Bain Capital related stories
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The Weather Company to Pay $600 Mln Dividend to Sponsors, Including Bain and BlackstoneThe Weather Company plans to pay a $600 million dividend to shareholders, including Bain and Blackstone.
Banker Sees Strong Chemical M&A BrewingThe Valence Group’s Anton Ticktin, who’s been focused on mergers and acquisitions in the chemical sector since the late 1990s, ranks 2013’s deal prospects as bullish, with major private equity players wading in.
- Arden to Sell Atrium and Arden Reinsurance to Enstar Group
Bermuda-based catastrophe reinsurer Arden Holdings Ltd. has agreed to sell its remaining subsidiaries, Atrium Underwriting Group Ltd. and Arden Reinsurance Company Ltd. to Enstar Group Ltd. Atrium will be acquired for approximately $183 million while Arden Reinsurance will be acquired for approximately $79.6 million. Both transactions are expected to close by the end of 2013. Among Arden's early investors were The Blackstone Group, Texas Pacific Group, Thomas H. Lee Partners, Oak Hill Capital Partners, Olympus Partners, Bain Capital, SAB Capital and Eton Park Capital Management.
- Bain Capital's Guitar Center Tangled Up In S&P Blue
Standard & Poor’s cut its debt rating on Bain Capital portfolio company Guitar Center Holdings Inc. as the music retailer purchased during the height of the 2007 buyout boom struggles with “weak operating trends.” S&P reduced its rating on the Westlake Village, Calif.-based company, including its corporate credit rating, to ‘CCC+’ from ‘B-‘.
Sponsor-Backed IPO Market On Fire; More Deals QueuedNavigating the collapse of Lehman Brothers, the worst economic downturn since the 1930s, the European debt crisis, the fiscal cliff and other woes, U.S.-based buyout shops still managed to raise $69.8 billion through 206 initial public offerings of portfolio companies from 2007 to May 20, 2013, according to an estimate based on Thomson Reuters data.
Fundraising Report: Matrix Wraps Up Fund X in AprilScales goes past target, Inisght raises large fund and has more planned plus other fundraising news from the previous month
- PE-Backed BRP Raises $262.3M from IPO
Valcourt, Québec-based Bombardier Recreational Products Inc. (BRP), which develops, manufactures and distributes power-sports vehicles, has completed its initial public offering of subordinate voting shares at a price of $21.50 per share, raising gross proceeds of around $262.3 million. The company's subordinate voting shares are listed on the Toronto Stock Exchange under the symbol "DOO". BRP was acquired for $960 million in 2003 by Bain Capital, the Caisse de dépôt et placement du Québec and members of the Bombardier family.