Bain Capital related stories
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Apax Partners, Bain Capital, EQT, TPG May Pursue Clothing Chain Takko - SourcesTakko is expected to attract at least four buyout shops, people familiar with the matter told Reuters. Apax Partners, Bain Capital, EQT and TPG are preparing proposals to take one of the Garmany’s largest clothing chains from Advent International. A another source told Reuters an initial public offering is also being considered.
- Kirkland & Ellis Relocates Debolt To Hong Kong To Expand Asia PE Practice
Kirkland & Ellis International LLP relocated Partner Michel Debolt to Hong Kong from London. The move is designed to expand the firm’s private equity practice in Asia. Debolt advises private equity sponsors and their portfolio companies in Asia, Europe and North America. He focuses on mergers, acquisitions, joint ventures, interim and final liquidity realizations, equity restructurings and executive compensation, the firm said.
- Revealed! Bain, Carlyle, Thomas H. Lee To Get $500M Bite Out Of Dunkin'
Today, we’ve learned that Bain Capital, the Carlyle Group and Thomas H. Lee will be getting a $500 million dividend from Dunkin’ Brands. A few weeks ago, Dunkin’ Brands disclosed it was in the market to raise $2 billion-- via a $1.35 billion loan and $625 million in notes-- to fund a dividend /86546/bain-caryle-thl-expected-to-scoop-up-big-dividend-from-dunkin-brands/ to its PE backers. However, they didn’t specify how much it would be. Moody’s Investors Service kindly provided that information. Bain, Carlyle and Thomas H. Lee will be getting $500 million, or about one-fourth of the total Dunkin' is raising, according to a Nov. 11 report.
- Burlington Raising $1.5 Billion New Debt But Only 1/3 Goes to Bain Dividend
Earlier this week, I reported on Burlington Coat Factory’s plan to pay a dividend /87816/burlington-coat-ascend-pelican-join-pe-dividend-parade/ to its PE shareholders, namely Bain Capital. Burlington Coat Factory is raising $1.5 billion in new debt. The company is selling $500 million in unsecured notes and is in the market for a $1 billion term loan. Of the $1.5 billion, I’m hearing from a source that about $300 million will go to pay a dividend to Bain. The rest is expected to be used to repay debt. Bain acquired Burlington Coat Factory, which sells coats and women’s sportswear, in 2006 for $2.06 billion.
- HCA To Pay $2 Billion Dividend to PE Backers Including Bain, KKR
I'm trying to keep the dividend stories to a minimum but today's is too hard to resist. HCA Inc., which is owned by KKR and Bain Capital, is planning to pay a $2 billion dividend to its PE backers. Nashville-based HCA, a hospital operator, said Tuesday in its earnings release that it plans to make a $2 billion distribution in fourth quarter to the company's existing shareholders and holders of vested stock options. HCA said in a separate statement that it plans to sell $1.525 billion in notes, and use borrowings, to pay the dividend.
- Burlington Coat, Ascend, Pelican Join PE Dividend Parade
The list of PE-backed companies looking to pay large dividends to their shareholders continues to grow. Burlington Coat Factory, which is backed by Bain Capital, is in the market for a $1 billion loan http://www.loanconnector.com/loanconnector/AcceptContract.do to pay a dividend to its shareholders. JP Morgan is leading sale of the loan, according to Thomson Reuters Loan Pricing Corp. Bain acquired the Burlington Coat Factory, which sells coats and women’s sportswear, in 2006 for $2.06 billion. A Bain spokesman says that a portion of the loan will go to refinance debt. Ascend Learning, which is owned by Providence Equity, is also trying to raise roughly $400 million http://www.loanconnector.com/loanconnector/AcceptContract.do —including $390 million in loans and $40 million in revolving credit—to pay a dividend, LPC said. Ascend Learning is made up of Assessment Technologies Institute and Jones & Bartlett Learning.
- PETCO Raising $1.7 Billion For Dividend To Leonard Green and TPG
PETCO, which is owned by Leonard Green and TPG, has joined the payout parade. San Diego-based PETCO is in the market to raise about $1.7 billion http://www.loanconnector.com/loanconnector/LPC_LC2_Home.do which includes a $1.1 billion term loan and $625 million in junior debt, according to Thomson Reuters Loan Pricing Corp. Proceeds will be used to pay a dividend to sponsors Leonard Green and TPG, LPC said. Credit Suisse is leading the sale of the term loan, LPC said.
- Electrolytic Ozone Raises Series A Financing
Electrolytic Ozone, a company that develops compact ozone generators for health, food safety and medical uses, has inked an undisclosed amount in Series A financing. The Boston-based Electrolytic Ozone, which recently spun out of supermaterials supplier Elements Six Ltd, is backed by that company’s corporate venture fund, E6 Ventures. No details of the funding were released.
- Angelica Dumps Dividend For Acquisition
Here’s something new. Angelica Corp, which is owned by the former Lehman Brothers Merchant Banking, has pulled its planned dividend deal. Instead, Angelica, which provides outsourced linen management services to the U.S. healthcare industry, has told its lenders that it’s pursuing an acquisition http://www.loanconnector.com/loanconnector/LPC_LC2_Home.do according to my compadres at Thomson Reuters Loan Pricing Corp. Last week, Angelica was in the market for a $185 million loan that was three times oversubscribed, LPC said. Macquarie Capital was leading sale of the loan, which was intended to pay a dividend to shareholders and refinance existing debt, LPC said.