Vestar Capital Partners related stories
All articles and analysis
PE-Backed Tervita Closes $850M RefinancingTervita Corp. has closed refinancing deals totaling approximately C$850 million. One of the transactions involved a US$650 million offering of senior secured notes, and the other a C$200 million offering in senior secured notes (both due in 2018). The Calgary-based environmental and energy services company announced in January that it intended to refinance existing senior credit facilities due to mature in 2014. Tervita was taken private for C$3.5 billion in 2007 by CAI Private Equity, Goldman Sachs Capital Partners, Kelso & Co., Vestar Capital Partners, OSS Capital Management and other investors.
- PE-Backed Tervita to Refinance Credit Facility
Tervita Corp. will refinance its existing senior secured credit facilities due in 2014. The announcement came on the heels of a decision by Moody's Investors Service to change its outlook http://www.moodys.com/research/Moodys-changes-Tervitas-outlook-to-negative--PR_264426 for the Calgary, Alberta-based company from stable to negative, citing declining EBITDA in recent quarters. Moody's said the company must improve earnings and significantly reduce leverage. Tervita was taken private in 2007 by a consortium of private equity firms, including CAI Private Equity, Goldman Sachs Capital Partners, Kelso & Co., Vestar Capital Partners, and OSS Capital Management.
- Vestar requests extension on Fund VI
Vestar’s limited partners are considering the firm’s request to continue marketing its sixth fund on a reduced $2bn target through April 2013.
- Vestar founder: Private equity overcrowded
Despite $385bn in dry powder, a weak exit environment does not bode well for private equity managers stuck with unrealised, pre-crisis assets, according to Vestar founder Norman Alpert.
- Vestar shuts down Europe strategy
The firm, which closed its Milan office earlier this year, has exited all but two of its European investments as it focuses on its core investment strategy, the US market.
- Investors settle Del Monte lawsuit
Shareholders in the food group have won an $89.4m settlement that challenged the buyout of Del Monte Foods.
- KKR reacquaints itself with Del Monte
In the largest LBO this year, three firms have agreed a $5.3bn deal for Del Monte, maker of Contadina pasta sauce and pet food Meow Mix.
- Vestar acquires HealthGrades for $294m
The New York-based firm has purchased a controlling stake in the healthcare ratings organisation at a price of $8.20 per share.
- Vestar Capital exits healthcare company
The New York-based firm has sold its stake in Joerns Healthcare, one of three companies Vestar spun out of Sunrise Medical since acquiring it in 2000.
- THL partially exits Michael Foods for $1.7bn
Thomas H Lee will sell most of its stake in Michael Foods to GS Capital Partners, giving the company its third PE sponsor.