Bain Capital related stories
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- Benihana Goes Up for Sale, Middle Market PE Likely Interested
We now have the next public restaurant deal. Benihana, which just settled a proxy fight, has hired Jefferies & Co. to sell the company. But don't expect any big PE firms, like KKR or Apollo Management, to be interested. This is a smaller play geared more to middle-market buyout shops. Miami-based Benihana is pretty small. In August, the company reported that first quarter revenue increased by 5% to $100.8 million for the time period ended July 18. Income from operations stood at $2.5 million while net income was $1.3 million for the time period. The company’s market cap is currently $108.2 million.
- UniCredit CEO Set To Resign While Pioneer's Possible Sale Looms
It's been a while since I've posted anything on UniCredit's (possible) sale of Pioneer Investments. Today, Alessandro Profumo, UniCredit's CEO, is expected to step down due http://online.wsj.com/article/SB10001424052748703989304575504150684266866.html?mod=rss_whats_news_us&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+wsj%2Fxml%2Frss%2F3_7011+%28WSJ.com%3A+What%27s+News+US%29&utm_content=Google+Reader to a power struggle at Italy's largest bank. It looks like Libya has increased its stake in UniCredit and that's causing problems http://www.bloomberg.com/news/2010-09-20/unicredit-ceo-profumo-may-offer-to-step-down-from-italian-bank-at-meeting.html with some banking foundations that also own UniCredit shares, according to Bloomberg. Libya's combined interest total about 7.6%. (Here's a Q&A from my compadres at Reuters explaining why http://www.reuters.com/article/idUSLDE68K0SE20100921 the Libyan investments are causing such a stink).
- Boston Heart Lab raises $10m; names new CEO
Bain Capital Ventures has invested $10 million after a Series C round of fund-raising by Boston Heart Lab, a company that works on diagnostics for patients with heart disease. Boston Heart Lab has also named Susan Hertzberg as new chief executive. Hertzberg is the former president of the North American division of the French medical company Ipsogen.
- Excellere Looks Close To Selling MedExpress
Excellere Partners appears close to selling MedExpress Urgent Care to General Atlantic. MedExpress, of Morgantown, W.V., provides outpatient urgent care services, like minor surgery and digital x-rays. News of the possible sale appeared on the FTC web site last week. It's not clear how much General Atlantic is spending.
- peHUB Wire: Wednesday, September, 15, 2010
Editor's Note: Today's guest column comes from Rob Morris, managing partner of buyout shop Olympus Partners.
- peHUB Wire: Wednesday, September, 15, 2010
Editor's Note: Today's guest column comes from Rob Morris, managing partner of buyout shop Olympus Partners.
- Firms throng to China to launch yuan funds
TPG, Carlyle, Blackstone leading the efforts
- Russell, Expected To Be Sold, Hires Key Execs
Russell Investments, which is expected to go up for sale, has recently filled three senior posts. In May, Russell tapped David Tenney to be managing director of business growth and development, a spokeswoman says. Tenney is the former co-head of America's research at Goldman Sachs & Co. He was COO of global investment research at Goldman before he retired in December 2007, an official says. Last month Russell announced http://www.russell.com/News/Press_Releases/PR20100803_McMurrayStrom.asp that John McMurray had been hired as chief risk officer to lead the global risk management department within Russell's office of the Chief Legal Officer. McMurray was previously chief risk officer for the Federal Home Loan Bank of Seattle. Russell also hired Erik Strom as director of government & community relations. Strom was in a similar role at the Federal Home Loan Bank of Seattle.