Bain Capital related stories
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Huntsman Gay Invests in Associated Diversified ServicesHuntsman Gay Global Capital has invested in Associated Diversified Services. Terms of the deal weren't disclosed. Associated Diversified, of Hartselle, Ala., is a powerline construction and maintenance company. Huntsman Gay Global is a middle market PE firm.
- Silver Lake's Hutchins Praises TARP; Downplays Idea of Joining Obama Administration
Glenn Hutchins believes that the Troubled Asset Relief Program in the U.S. was one of the most successful emergency measures taken by the government to address the recent financial crisis. But don’t expect the Silver Lake Partners co-founder and co-CEO to join the Obama administration. “TARP very clearly stabilized the financing sector,” said Hutchins, who was speaking Tuesday at the Quebec City conference. While he holds TARP in high regard, Hutchins, co-founder of Silver Lake, said he knows that the program is wildly unpopular in the U.S. He also noted, during a Q&A session, that a survey found that torture is more popular than TARP. “One of the most powerful tools is the most unpopular,” he said.
- TxVia Raises $27.5 Million Led By Oak Investment Partners
New York-based TxVia, which develops payment-processing technology, has raised $27.5 million in Series D financing. Oak Investment Partners led the round, with participation by Bain Capital Ventures, Espirito Santo Ventures and Village Ventures. With the latest investment, TxVia has now raised more than $55 million. Oak Investment Partners has offices in Westport, Conn.; Palo Alto, Calif.; and Minneapolis.
- Bain, Caryle, THL Expected To Scoop Up Big Dividend From Dunkin' Brands
Though I’m in Quebec for the Quebec City Conference, I couldn’t resist the news that Dunkin’ Brands is raising about $2 billion, at least part of which is earmarked to fund a dividend to its PE shareholders. Dunkin’ Brands, which is owned by Bain Capital, the Caryle Group and THL Partners, said Monday that it’s in the market for a $1.3 billion loan. The company is also raising $625 million in senior notes, according to the statement http://www.prnewswire.com/news-releases/dunkin-brands-announces-proposed-financing-105667118.html
- Bain Capital Affiliate Commences $65.40/Share Tender Offer For Gymboree
Bain Capital Partners LLC’s Giraffe Acquisition Corp. commences its tender offer for Gymboree Corp. The bid is for $65.40 a share, or a total of $1.8 billion. The deal was previously unanimously approved by Gymboree’s board. Gymboree is a specialty retailer with 1,037 stores, as of Oct. 2.
- Dell, Seagate, FIS Make Barron's Top Dozen LBO Candidates
Last week, the media went into overdrive on the supposed PE takeover of Yahoo. Now, the speculation has turned to what company may be next on the LBO menu. Luckily, Barron’s has compiled a list http://www.smartmoney.com/investing/stocks/12-potential-leveraged-buyout-candidates/?page=2 of the top dozen LBO candidates. PE firms need to do deals because they are sitting on tens of billions of commitments from institutional investors and will be forced to free investors from those commitments if they don’t invest the funds, the story said. There’s also been a lot of talk http://blogs.wsj.com/privateequity/2010/09/30/the-private-equity-industrys-10-billion-question/ about how a $10 billion deal is possible now (although we haven’t see it yet).
- Bain interested in Saudi financial services companies
Bain Capital has announced that it is interested in investing in financial services companies in the Middle East, particularly in Saudi Arabia, which has a fast-growing population and a strong economy. According to Steve Pagliuca, managing director, "There are large capital sources here but the region itself is intriguing - Saudi Arabia specifically is building five or six cities the size of Boston which is going to take an enormous amount of economic might to do that."
- POST Integrations Goes On The Block, CEO Denies Sale: UPDATE
POST Integrations is the latest payment processor to go on the block with an unrealistic valuation, banking sources say. Phoenix-based POST Integrations, which provides credit card processing services for hotels across the nation, has hired Citadel as its financial adviser. POST has about $20 million EBITDA and is seeking bids of 12x, according to three people with knowledge of the situation. Mary Gerdts founded POST in 1991 and is currently the company’s CEO and president. POST’s customers include Hilton Hotels and Interstate Hotels.
- TPG Growth buys a stake in Schiff Nutrition
Private equity firm TPG Growth has acquired a 25 percent stake in Schiff Nutrition International, a Utah-based manufacturer of private label vitamins and health foods, for $48.8 million. Schiff bought 7.487 million shares of Class B common stock, which automatically converted to Class A common stock on a one-to-one basis. TPG executives William E. McGlashan, Jr. and Matthew T. Hobart, will now join the Schiff board.