I've been a business reporter for a while. I've covered Wall Street, venture capital and now private equity. I'm always looking for a scoop or something to talk about. I'm the eternal optimist and am still waiting for the Chicago Cubs to win the World Series. Yes, I believe.
Loan investors are fighting back against private equity attempts to get increasingly aggressive terms in financing their LBOs, Bloomberg reported citing a survey from Covenant Review. Several recent leveraged loans to finance buyouts, including for Whataburger Restaurants, Teneo Holdings, MyEyeDr and SnapAV, received major overhauls to investor protections known as covenants, the story said.
1 min read · 14 August 2019
Roark Capital is weighing the sale of Driven Brands Inc, which could fetch as much as $2 billion, Bloomberg is reporting. Roark is talking to advisers about running a Driven Brands auction, the story said. Roark acquired Driven Brands, an automotive services franchiser, in 2015.
1 min read · 14 August 2019
CityMD, which is backed by Warburg Pincus, has completed its merger with Summit Medical Group. The deal was announced in June.
4 min read · 14 August 2019
3 min read · 13 August 2019
Coller emerges as buyer on large Ares fund revamp; PE-backed WIRB-Copernicus gears up for sale; Vista Equity sells stake in Advanced to BC Partners
2 min read · 13 August 2019
Council Capital said Aug. 13 that it sold its stake in EspriGas to an entity affiliated with Kaltroco. Financial terms weren’t announced. EspriGas, of Atlanta, is a medical and industrial gas company that uses a network business model to manage the gas supply chain.
4 min read · 13 August 2019
H.I.G. Capital said Aug. 13 that it promoted Matt Hankins to managing director of the H.I.G. Advantage Fund.
2 min read · 13 August 2019
Brookfield Business Partners is buying Genworth Financial’s majority stake in Genworth MI Canada Inc. (Genworth Canada). The purchase price is C$2.4 billion ($1.8 billion). Genworth Canada is the largest private sector residential mortgage insurer in Canada.
7 min read · 13 August 2019
CIT Group Inc said Aug. 13 that it agreed to buy Mutual of Omaha Bank for $1 billion. The deal will be comprised mainly of cash and up to $150 million of CIT common stock. Mutual of Omaha, founded in 1909, insurance and financial products for individuals, businesses and groups throughout the United States.
7 min read · 13 August 2019
Scout24 is exploring a sale or spin-off of its autos platform after activist investor Elliot called for the company to sell the business, Reuters is reporting. AutoScout24 could fetch up to 2.5 billion euros ($2.8 billion), the story said.
1 min read · 13 August 2019
