JLL Partners related stories
All articles and analysis
MedVance Institute Switches SponsorsGeneration Partners has sold MedVance Institute to Education Affiliates Inc., a portfolio company of JLL Partners. No financial terms were disclosed. MedVance provides medical and allied health-related career training at campuses in Florida, Texas, Louisiana and Tennessee.
- Builders FirstSource Forges Recap Agreement
Builders FirstSource Inc. (Nasdaq: BLDR), a residential construction company, has agreed to a recapitalization that would include a $205 million common stock rights offering and debt exchange. The offering would be backstopped by existing shareholders JLL Partners and Warburg Pincus, which hold a combined 49.9% stake.
- peHUB Wire: Tuesday, October 20, 2009
This is Erin filling in for Dan while he’s moderating panels at the Quebec City Conference
- peHUB Wire: Tuesday, October 20, 2009
This is Erin filling in for Dan while he’s moderating panels at the Quebec City Conference
- Five More Bankrupt Companies That Earned Their Private Equity Backers a Return
In the context of the New York Times private equity take-down, I think most peHUB readers would say that there is value created by private equity firms. It's also safe to say that buyout bosses are just as capable of destroying value. Taking it a step further, I'm of the opinion that while that dividend recap may take some risk off the table, they are generally not necessary. I also agree with Dan ../../../../../../51979/next-lbo-verse-much-like-the-first/ that management fees are an abomination. With that out of the way, here are examples of five more buyout-backed companies which underwent a dreaded dividend recap and ended up in bankruptcy. There isn't necessarily a straight line from recap to bankruptcy, nor is there a clear case that the company wouldn't have failed on its own apart from private equity involvement. But it sure doesn't look good. In some cases, the firms re-invested in the company, possibly to avoid a clawback if the fund from which the investment came from ends up underwater.
- Investors Sue To Stop Builders FirstSource Recap
JLL Partners and Warburg Pincus are facing an investor lawsuit in opposition to their plan to recapitalize Builders FirstSource Inc. (Nasdaq: BLDR). The two firms currently hold a combined 49.9% stake in the residential construction company, and have agreed to both a $75 million rights offering at $2 per share and a debt-for-equity swap. The suit claims the recap would not be in the best interest of the company or its other shareholders.
- peHUB Wire: Friday, September 25, 2009
Random Ramblings
- peHUB Wire: Friday, September 25, 2009
Random Ramblings