Bain Capital related stories
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Huntsman Gay and Vista Equity Recap SunquestPrivate equity firms Huntsman Gay Global Capital and Vista Equity Partners have recapitalized Sunquest Information Systems, a provider of laboratory information systems. Huntsman Gay led the recap. Vista Equity Partners has owned Sunquest since 2007, and says it will retaining a significant stake in the business. Financial terms of the deal were not released.
- Bain Capital Agrees to Buy Dutch Firm IMCD
Buyout shop Bain Capital will buy Rotterdam-based chemical distributor IMCD, Reuters reported. The deal values the Dutch company 650 million euros ($857.5 million), Reuters said. Bain was reportedly in the second round of bidding for IMCD. Other bidders, including New Mountain Capital and Cinven, dropped out of the running. IMCD is owned by AAC Capital, the former private equity arm of ABN Amro, Reuters said.
- PE Firms Interested in Beckman Coulter
A slew of buyout shops, including Blackstone Group, Apollo Global Management, Kohlberg Kravis Roberts & Co., TPG Capital and Bain Capital, are all interested in buying diagnostics and medical instruments company Beckman Coulter, Reuters reported. Beckman Coulter is considering selling itself, Reuters reported, adding that the company hired Goldman Sachs to help it weigh options. Beckman Coulter is based in Brea, Calif., and has a market capitalization of roughly $4 billion.
- Bain, CVC in Running for Japanese Supermarket Chain
Bain Capital, CVC Capital Partners, and financial firm Orix Corp. have been short-listed as bidders for Japanese supermarket chain Seijo Ishii Ltd, Reuters reported. The company, which has been valued at roughly 30 billion yen ($358 million), is owned by buyout shop Advantage Partners. Final bids are due early next year, Reuters said.
- Apax in Exclusive Talks for Danish Company ISS
Beating out bids from rival buyout shops, Apax Partners is now in exclusive talks to buy Danish cleaning company ISS, Reuters reported. ISS is currently owned by Goldman Sachs and Swedish private equity firm EQT. The deal, valued at about $8.5 billion, could become Europe’s largest buyout since the credit crisis, Reuters said. ISS is one of the world’s largest facilities services companies, with more than 500,000 employees.
- Bain, Advent Pour $311 Million into WorldPay
The private equity owners of U.K.-based payment processing company WorldPay will pour 200 million pounds ($311 million) into the company, adding 250 new jobs, Reuters reported. The Royal Bank of Scotland sold all but 20% of the company to Advent International and Bain Capital in a buyout that closed on Wednesday. The two firms aim to beef up the company’s management team and add the new jobs over the next six months, Reuters said.
Success of Groupon Inspires ImitatorsDespite Groupon’s dominant market share and continued growth, clones of the group buying site continue to spring up and attract venture capital
- Seagate Buyout Falls Apart in Favor of Buyback Plan
A potential $9 billion buyout of Seagate Technology fell apart Monday, and the hard disk maker will instead move ahead with a share buyback plan, Reuters reported. Seagate had been the target of private equity firm TPG Capital, Reuters said. The firm, however, backed away after it was unable to sign on another private equity firm to partner in the deal.
- Burlington Pulls $1.5 Bln Loan Deal So Bain Dividend Is Off
Last week, I was in Dallas for the Buyouts conference and there was much talk about all the dividend recaps companies are taking. Some think all the recaps means there's a bubble in the high yield market while others believe PE firms are being smart about the payouts they're getting. There have been several dividend recaps recently, including HCA's plans to pay a $2 billion dividend /87901/hca-to-pay-2-billion-dividend-to-pe-backers-including-bain-kkr/ to its shareholders (KKR and Bain Capital). Dunkin' Brands is also raising $2 billion to fund a $500 million dividend /88131/revealed-bain-carlyle-thomas-lee-to-get-300m-bite-out-of-dunkin/ to its PE backers (Bain, Carlyle and Thomas H. Lee). Still, not all deals gets done. Consider Burlington Coat Factory, which is owned by Bain Capital. Burlington was planning to raise /88035/burlington-raising-15-billion-new-debt-but-only-13-goes-to-bain-dividend/ $1.5 billion in new debt, which included $500 million in notes and a $1 billion term loan. About $300 million was expected to go to Bain via dividend.
- CLSA Capital Plans To Sell Everlife, Hires An Adviser - Reuters
CLSA Capital Partners plans to sell Everlife in a deal that could be worth up to 70 billion yen ($840 million), Reuters reported citing sources. CLSA hired Bank of America Merrill Lynch as an adviser and to sounding out interest from other private equity firms and strategic investors, three people with direct knowledge of the matter said. CLSA Capital is Credit Agricole SA's private equity business. Everlife is a Fukuoka, Japan-based food supplement maker.