Bain Capital related stories
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Private equity interested in the Body Shop: Financial TimesThe Body Shop has attracted interest from a handful of private equity firms, according to the Financial Times. CVC, Carlyle, Advent and Bain Capital are among the buyout groups expected to place offers, the story said. L’Oréal, which owns the Body Shop, is hoping to receive as much as 1 billion euros ($1 billion) for the British skincare retailer, the FT said. Lazard is advising on the process; bids are expected Friday, the story said.
- Bain, Cinven pay up to win backing for Stada deal: Reuters
Buyout groups Bain Capital and Cinven won an auction for German drugmaker Stada (STAGn.DE) on Monday after a surprisingly large increase on a previous bid valued the company at about 5.3 billion euros ($5.6 billion), Reuters reported.
- Bain, Cinven to take over Stada in €5.3bn deal
The Frankfurt-listed pharmaceutical company has accepted the pair’s offer of €66 a share.
Penfund backs launch of Aveanna with $75 mln investmentCanadian private equity firm Penfund has made a US$75 million second-lien debt investment in Aveanna Healthcare, an Atlanta, Georgia-based pediatric home healthcare company serving medically fragile children. Aveanna, which is owned by U.S. private equity firms Bain Capital, J.H. Whitney Capital Partners and other investors, including Penfund, was launched in a merger last month. The transaction brought together PSA Healthcare and Epic Health Services. PSA previously secured /canada/2016/9/3361999/ US$53.5 million in financing from Penfund. The Toronto-based investor raised $724 million for its fifth mid-market fund /canada/2016/10/penfunds-fifth-mid-market-fund-closes-above-hard-cap-raising-724-mln/ in 2016.
- Flow snaps up $16 mln Series A
Flow, a global ecommerce platform, has closed $16 million in Series A financing. Bain Capital Ventures led the round with participation from Fung Capital and Forerunner Ventures.
RBC, JPMorgan lead Canadian equity advisory in first quarter: ReutersRoyal Bank of Canada, JPMorgan and Bank of Montreal took the top three positions advising on Canadian equity issues in the first quarter, Reuters reported, citing data released by Thomson Reuters. The volume slipped about 13 percent to $12.9 billion (US$9.6 billion) from year-earlier levels, the figures showed. However, initial public offerings rebounded after a lackluster 2016, with private equity-backed Freshii Inc and Canada Goose Holdings Inc listing on the Toronto Stock Exchange.
- CVC appoints senior advisor in Japan
Former General Electric CEO Yoshiaki Fujimori will join the London-headquartered firm as it ramps up investments in Japan.
Canada's IPO market bounces back in 2017's first quarter: PwCCanada’s initial public offering (IPO) market began 2017 strongly, according to a survey by PwC. Following a "dismal" performance /canada/2017/1/aritzias-400-mln-ipo-among-few-highlights-in/ last year, combined domestic exchanges saw six new equity issues worth $571 million in Q1 2017, which reflects the second-best initial quarter result in the past decade. February's offering /canada/2017/2/klass-capital-wins-bet-as-freshii-raises-more-than-125-mln-in-tsx-debut/ by health-food restaurant chain Freshii Inc, backed by Klass Capital, and March's offering /canada/2017/3/3439704/ by luxury outerwear brand Canada Goose Holdings Incs, backed by Bain Capital, were among the headline IPOs. PwC said it expects to see additional offerings from private equity-backed Canadian companies later this year.
- Ford Foundation commits $1bn to impact investing
The US’s second largest foundation will allocate the capital to impact funds that have attractive financial and social returns.