Bain Capital related stories
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Debt of portfolio companies on ‘weakest links’ list at lowest levels since before the financial crisisThe number of private equity-backed companies listed in Standard & Poor’s ”weakest links” report published in May fell to 19 from 24 when the list was last reviewed by Buyouts. Simultaneously, the number of portfolio companies defaulting or filing for bankruptcy protection has risen to four.
Blackstone, Bain Capital-backed Michaels raises $473 mln in IPO: ReutersBlackstone Group and Bain Capital-backed Michaels Cos Inc said on Thursday it had raised about $472.6 million in its initial public offering after pricing shares at $17, the lower end of an expected range.
Riverside in Australia healthcare dealThe global firm has acquired Global Orthopaedic Technologies shortly after exiting Boost Juice.
MassPRIM goes large with venture capitalOne major limited partner, the Massachusetts Pension Reserves Investment Management Board, has gone large on pledging capital to venture capital this month.
MassPRIM goes large on venturePension fund commits to Sofinnova, Spark Capital, Ascent Venture and Charlesbank
Moody's: Default rate no worse in large buyouts than similar companiesSurprise! Large buyout shops, which typically shoveled huge amounts of debt onto their portfolio companies during the so-called bubble years, actually did OK in terms of default rates.
- Defaults no worse in PE portfolios, Moody's finds
Portfolio companies of large buyout shops, which typically carried huge amounts of debt during the so-called bubble years, actually fared no worse in terms of default rates than big debt issuers without financial sponsors, Moody’s Investors Service said
- Health Catalyst appoints Sorenson Capital's Bullock as board chair
Health Catalyst has named Fraser Bullock as chairman of the board of directors. Bullock replaces Dr. David A. Burton who is retiring as a board chairman but will remain as a senior vice president at Health Catalyst. Bullock is a co-founder and managing director at Sorenson Capital. Based in Salt Lake City, Health Catalyst is a provider of data and analytics that help healthcare organizations.
- Bain Capital Ventures closes $935 mln for new fund - NY Times
According to the New York Times http://dealbook.nytimes.com/2014/06/18/bain-capital-ventures-raises-935-million-to-back-growth-firms/?_php=true&_type=blogs&_r=0 Bain Capital Ventures has raised $935 million for a new fund, split between two parts. The publication reported that the fundraising was quick, having started in April and ended on June 6. The pool's focus will be on early-stage firms.
- Bain Capital's Consolidated Container Company acquires plastic recyclers
Bain Capital portfolio company Consolidated Container Company has acquired plastic recyclers Envision Plastics and Ecoplast Corporation from founders Massoud Rad and Parham Yedidsion. Terms of the transaction were not disclosed.