Private Equity
Thoma Bravo has made a "substantial" investment in SRS Software. Financial terms were not announced. Montvale, N.J.-based SRS provides electronic health record technology and services for physicians.
2 min read · 02 January 2013
To end 2012, we have the year's top apps, the worst footnote (which comes from GE) and and the weird 46-year history of the term "Fiscal Cliff." And we all hope U.S. Secretary of State Clinton feels better.
1 min read · 31 December 2012
Great Point Partners has completed a dividend recap of Health Systems International, according to a Dec. 27 statement. Great Point, a Greenwich, Conn.-based PE firm, did not disclose financial terms of the dividend recap. However, Great Point said that the transaction was an "attractive opportunity" for HSI's shareholders, which include company management and GPP's LPs. Indianapolis-based Health Systems provides outsourced medical cost management services for self-insured corporations and insurance companies.
2 min read · 31 December 2012
Main Street Capital Corp. said Monday it completed two investments totaling $35.1 million. Main Street invested $21.1 million in Bond-Coat, of Odessa, Texas. Bond-Coat provides external casing and tubing coating for corrosion prevention and cement adhesion. Main Street also provided $14 million to Marine Shelters Holdings, which does business as LoneStar Marine Shelters. Galveston, Texas-based LoneStar is a marine building fabricator specializing in high blast rated and high fire rated buildings for the offshore oil and gas industry.
2 min read · 31 December 2012
Warburg Pincus has acquired JHP Pharmaceuticals for $195 million. The seller is Morgan Stanley Principal Investments. JHP's current management team will continue to hold an interest. Parsippany, N.J.-based JHP specializes in sterile injectable products. Morgan Stanley & Co. advised JHP.
4 min read · 31 December 2012
The year is swiftly coming to a close and while fiscal cliff negotiations continue in Congress, we do have some good news. The value of global announced private equity-backed mergers actually increased in December, according to data from Dealogic.
2 min read · 31 December 2012
Advanstar Global has completed its previously announced buy of ENK International for $155 million. ENK organizes fashion events in New York, Las Vegas, Europe and Asia. Advanstar is backed by Anchorage Capital Group, Ares Management, and Veronis Suhler Stevenson. GE Capital, RBS Citizens and U.S. Bank provided debt financing for the deal.
3 min read · 31 December 2012
LodgeNet Interactive Corp. said Monday that a syndicate formed by a Colony Capital affiliate has agreed to provide $60 million of new capital via a recap. The deal will be implemented through an expedited Chapter 11 bankruptcy proceeding. Once the process concludes, the Colony syndicate will have a controlling stake in LodgeNet, which provides interactive media and connectivity services to hospitality and healthcare businesses. The Colony syndicate will invest $60 million in exchange for all of the new shares of common stock of LodgeNet Interactive. Unsecured creditors of LodgeNet will be paid in full for any pre-petition claims at the conclusion of the Chapter 11 process. The deal also calls for LodgeNet and DIRECTV to operate as strategic partners within the hospitality and healthcare markets. Miller Buckfire, a unit of Stifel Financial, FTI Consulting and Moorgate Securities served as financial advisors to LodgeNet. Guggenheim Securities acted as financial advisor to Colony.
8 min read · 31 December 2012
Insurance deals may have provided some welcome M&A relief this year, but the same can't be said for financial services transactions as a whole. This year, private equity investment in financial services plunged by nearly 47% in terms of deal value.
3 min read · 21 December 2012
Last week, we discovered which private equity firm was the biggest dealmaker. Now it's time for the largest PE deals of the year. Global PE-backed M&A totaled $267 billion so far in 2012, a 12% drop from 2011, according to preliminary data from Thomson Reuters. Private equity-backed mergers targeting the U.S. reached roughly $137 billion year-to-date, a 7% decline from 2011.
2 min read · 21 December 2012
