Vestar Capital Partners related stories
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Cancer treatment firm 21st Century Oncology files for bankruptcy: Reuters21st Century Oncology Holdings Inc, which bills itself as the world's largest operator of cancer treatment centers, filed for Chapter 11 bankruptcy on Thursday, citing changes in insurance reimbursement rates and uncertainty caused by political changes, Reuters reported.
Vestar, CPPIB-backed 21st Century Oncology files for bankruptcy21st Century Oncology Holdings Inc, a U.S. provider of integrated cancer care services, has agreed to a debt restructuring plan with its senior lenders and bondholders. The deal is expected to reduce the company's net debt by more than US$500 million and include US$75 million in debtor-in-possession (DIP) financing from a group of investors. 21st Century said it plans to implement the restructuring through a Chapter 11 process. 21st Century was acquired in 2008 by U.S. private equity firm Vestar Capital Partners. In 2014, Canada Pension Plan Investment Board invested /canada/2014/9/cppib-invests-325-mln-in-vestars-21st-century-oncology-holdings/ US$325 million in the business.
- Vestar funds Edward Don & Company
Vestar Capital Partners has made an investment in Woodridge, Illinois-based Edward Don & Company, a provider of food service equipment and supplies. No financial terms were disclosed. Wells Fargo Securities LLC served as financial adviser to Edward Don & Company. The Don family and some senior management will retain a "significant" ownership stake in the company. The deal is expected to close in the first quarter of this year.
- Vestar Capital promotes Stephens
Vestar Capital Partners said Feb. 6 that it promoted John Stephens to co-head of the firm’s Business Services and Industrial Products Group, while Ben Funk was named vice president and Jonathan Williams was appointed a senior associate.
- HP SCF invests in Vestar-owned Roland Foods
Harvest Partners SCF LP has led a $125 million recapitalization of and minority investment in New York City-based Roland Foods, an importer of specialty food products. Roland Foods is a portfolio company of Vestar Capital Partners, which will retain its majority stake in Roland as a result of this transaction. Wells Fargo Securities LLC provided financial advice to Vestar while William Blair & Company did likewise for HP SCF.
- EQT completes take-private acquisition of Press Ganey
EQT has completed its previously announced take-private buyout of Press Ganey Holdings Inc for $40.50 in cash per share. The seller was Vestar Capital Partners. As a result of the closing, Press Ganey has stopped trading on the New York Stock Exchange. Barclays and Goldman Sachs provided financial advice to Press Ganey while BofA Merrill Lynch did likewise for EQT. Press Ganey is a a performance analytics provider for healthcare companies.
- Bridge Growth closes debut fund, names chairman
The growth-oriented firm raised $410m after fundraising for about three years.
- Vestar exits Sun Products for $3.6 bln
Vestar Capital Partners has closed its previously announced sale of Sun Products, a maker of laundry and household products, to Henkel Consumer Goods Inc for $3.6 billion. Morgan Stanley & Co LLC provided financial advice to Sun Products on the transaction.