Bain Capital related stories
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Bain Capital raises $525M, hires new partnerJohn Connolly, former CEO of Institutional Shareholder Services, joins Boston firm
- A Few Surprises About the Year's Biggest Take-Private
Advent International, Bain Capital and Berkshire Partners today announced an agreement /63563/skillsoft-going-private-in-11-billion-deal/ to acquire Skillsoft (Nasdaq: SKIL), a Dublin, Ireland-based provider of e-learning and performance support SaaS solutions. The $1.1 billion deal is the year’s largest take-private, and represents a 10.66% premium over yesterday's closing price. The buyout firms secured debt financing from Morgan Stanley and Barclays Bank, which consists of a $40 million senior secured revolving facility, a $435 million senior secured term loan and a $240 million senior unsecured interim loan. That equates to a $385 million equity check, presumably split evenly between the three sponsors. On a conference call for the deal this morning, analysts and shareholders seemed unimpressed by both the price and the opportunity for a counterbid.
- SkillSoft Going Private in $1.1 Billion Deal
SkillSoft PLC (Nasdaq: SKIL), a Dublin, Ireland-based provider of e-learning and performance support SaaS solutions, has agreed to be acquired by Advent International, Bain Capital and Berkshire Partners. The deal is valued at approximately $1.1 billion, with SkillSoft stockholders to receive $10.80 per share (10.66% premium over yesterday's closing price). Credit Suisse Securities advised SkillSoft on the deal.
- peHUB Wire: Friday, February 12, 2010
Random Ramblings
- peHUB Wire: Friday, February 12, 2010
Random Ramblings
- Vodafone Will Not Bid for Kabel Deutschland
LONDON/FRANKFURT (Reuters) - British mobile phone giant Vodafone (VOD.L) has decided against bidding for Germany's largest cable televison operator Kabel Deutschland, leaving a cluster of private equity firms in the driving seat. "We reject media reports along these lines," a spokesman for Vodafone Germany said when asked if Vodafone was bidding. Reuters reported this week that private equity firms including Advent, BC Partners and Carlyle were set to submit offers and could team up because of the amount of equity that would be needed to launch a credible bid.
- Bain Capital Ventures Raises Fund, Hires Operating Partner
Bain Capital Ventures has quietly closed its fourth fund with $525 million in capital commitments. The Boston-based firm also has hired John Connolly, former CEO of Institutional Shareholder Services, as an operating partner focused on portfolio company management. A few notes: Fund: This vehicle comes in a bit larger than its $500 million predecessor (raised in 2007), but below the $750 million cap that BCV had listed in a regulatory filing last February. Unclear if BCV aimed for $750m and failed, or reevaluated due to: (a) The hellish fundraising environment, and (b) A realization that the current VC market has better early-stage opportunities than later-stage ones (BCV is stage-agnostic).