Warburg Pincus related stories
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KKR In Second Deal For Pharma ResearchKohlberg Kravis Roberts & Co has agreed to acquire ReSearch Pharmaceutical Services Inc from private-equity peer Warburg Pincus LLC, sister news service Reuters reported, marking KKR’s second announced investment in a global contract research organization in as many months.
Growth Equity Gains Traction With LPsIn a move reflecting broad industry trends, the New York City Public Pension Funds system continued its shift in its investment focus toward growth capital investments and away from venture capital this summer.
- Valeant Closes $8.7B Buy of PE-Backed Bausch + Lomb
Montréal-based Valeant Pharmaceuticals International Inc. (NYSE: VRX and TSX: VRX) has completed its acquisition of eye care specialist Bausch + Lomb Holdings Inc. from U.S. private equity firm Warburg Pincus, which acquired the Rochester, New York-based company in 2007. Valeant in May agreed to pay US$8.7 billion in cash, of which around US$4.5 billion would go to Warburg Pincus and other investors, and around US$4.2 billion would be used to repay Bausch + Lomb's debt.
- MEG Energy Appoints Eric Toews to CFO Spot
Calgary-based oil sands developer MEG Energy Corp. (TSX: MEG) has appointed Eric Toews to the position of CFO. Toews joined the company from BMO Capital Markets, where he held the position of managing director with a focus on the energy sector. MEG Energy completed a $700 million initial public offering in 2010, but continues to have private equity investors, including the Caisse de dépôt et placement du Québec, KERN Partners and Warburg Pincus.
- Reuters: IPO Likely Neiman Marcus Option as Underwriters Chosen
Neiman Marcus has appointed a syndicate of banks for a possible initial public offering, two people familiar with the matter said on Monday, in the latest sign that the high-end department store is leaning towards a listing over pursuing an outright sale, Reuters reported.
- Warburg-Backed Ambulance Co. In Chapter 11
Ambulance operator Rural/Metro Corp, owned by buyout shop Warburg Pincus, filed for Chapter 11 bankruptcy with the aim of cutting its debts after it missed an interest payment in July, according to court filings.
- Reuters: U.S. Ambulance Operator Rural/Metro Files for Bankruptcy
Ambulance operator Rural/Metro Corp, owned by private equity firm Warburg Pincus, filed for Chapter 11 bankruptcy with the aim of cutting its debts after it missed an interest payment in July, Reuters reported citing court filings.
- KKR to Acquire RPS from Warburg Pincus
Global investment firm KKR said Wednesday that it has inked an agreement to buy ReSearch Pharmaceutical Services from Warburg Pincus. No financial terms were disclosed. Citigroup acted as exclusive financial advisor to RPS for the transaction while Credit Suisse, Jefferies and UBS Investment Bank served as financial advisors to KKR. Also, debt financing will be provided by Credit Suisse, Jefferies, UBS Investment Bank, Citigroup and KKR Capital Markets. When the transaction closes, which is expected to be in the third quarter of 2013, RPS will merge with PRA International, another recent KKR acquisition. Headquartered in Fort Washington, Penn., RPS is a global contract research organization.
Triago: Global Fundraising on Pace to Hit $356B in 2013, Best Since 2008Triago, in its quarterly report, says 2013 is shaping up to be the best for PE exits and fundraising since the crisis.
- Sponsors Vie For CPG, Maker Of Building Supplies
TPG Capital LP, Warburg Pincus LLC, Ares Management LLC and Berkshire Partners LLC are competing for building products maker CPG International Inc, whose sale could fetch as much as $1.5 billion, four people familiar with the matter told sister news service Reuters.