Bain Capital related stories
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LPs may seek to dismantle Lehman buyout fundFate of $3.3B unknown since Lehman Brothers filed bankruptcy
- Apparent Networks Raises $12 Million
Apparent Networks Inc., a Wellesley, Mass.–based provider of IT performance management solutions, announced that it has raised $12 million in Series C funding. Egan-Managed Capital led the round, and was joined by return backers Bain Capital Ventures, JMI Equity and Business Development Bank of Canada. The round closed last November, and brings Apparent’s total venture capitalization up to around $36 million.
- Weekly Downgrade Wrap-up
As usual, I have a week and a day’s worth of Moody’s and S&P downgrades on PE-backed companies. This week, there were nine new ones, including two backed by Warburg Pincus and two from Bain Capital. (Apologies for the delay as I was out Friday and Monday) Company: Rafaella Apparel Group Sponsor: Cerberus Capital Management Downgrade: S&P announced a corporate credit rating downgraded from 'CCC' from 'B-'.The outlook is negative. Highlights: “We estimate that leverage may increase to over the 11.5x area (assuming debt levels do not increase significantly from current levels) if revenues decline by about 13% for fiscal 2009 from fiscal 2008 levels and EBITDA margins remain in the low single digits, which may reduce Rafaella's net income covenant cushion.”
- S&P Downgrades Clear Channel Ratings
Standard & Poor’s has cut the corporate credit rating of Clear Channel Communications from B to B-, and also cut its issue-level ratings. Both ratings remain on S&P CreditWatch. Clear Channel was acquired last year by Bain Capital and THL Partners.
- PlumTree to focus on IT-enabled services
Dallas firm has big-name experience on its side
- peHUB Wire: Monday, February 23, 2009
Random Ramblings
- peHUB Wire: Monday, February 23, 2009
Random Ramblings