Warburg Pincus related stories
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Warburg Pincus Planning New Buyout FundNew York-based Warburg Pincus is planning to raise a new buyout fund, Reuters reported, citing a news story by Bloomberg. The firm has reportedly invested more than 80% of its current $15 billion pool, which was raised in 2008, Reuters wrote.
- Dentsply Beats Out PE Firms for AstraZeneca Unit
Dentsply International beat out a number of private equity firms to buy AstraZeneca’s dental implants and medical devices unit, Reuters reported. Dentsply is paying $1.8 billion in cash for the unit, Astra Tech. The unit, with revenue last year of $535 million, is the third largest dental implants maker in the world, Reuters said. A number of prominent firms were interested in buying Astra Tech, including Bridgepoint, Cinven, PAI Partners and Warburg Pincus.
- Warburg Pincus to Deal Camp Systems
NEW YORK, June 20 (Reuters) - Private equity firm Warburg Pincus is seeking to sell Camp Systems International, a software provider for business aircraft that could be worth $500 million to $600 million, three people familiar with the matter said. Credit Suisse will advise on the sale of Camp Systems, which has about $60 million in earnings before interest, taxes, depreciation and amortization (EBITDA) and could go for about 10 times EBITDA, two of these people said....
- Laredo Buys Broad Oak Energy
Laredo Petroleum will acquire fellow Warburg Pincus portfolio company Broad Oak Energy in a deal valued at $1 billion, the companies announced Friday. The transaction is expected to close at the beginning of July. Broad Oak Energy is an oil and gas exploration and production company focused on the Permian Basin of West Texas. It was formed in 2005 and funded by Warburg Pincus in 2006. Laredo was formed in 2006 and is based in Tulsa, Oklahoma.
- Providence, Warburg Take Small Win on $1.15B Telcordia Deal
Providence Equity Partners and Warburg Pincus are exiting Telcordia Technologies after six years. Ericsson said today that it is buying the telecom services provider http://www.ericsson.com/news/1523267 for $1.15 billion cash. Piscataway, N.J.-based Telcordia provides mobile, broadband and enterprise communications software and services. It produced $739 million revenue for the fiscal year ended Jan. 31, 2011. Providence and Warburg acquired Telcordia in 2005 for $1.35 billion. Each PE firm put in $150 million equity for a combined $300 million, a source says. The rest of the deal was paid using debt.http://www.persi.state.id.us/documents/3Q10AlternativeInvestmentReport.pdf
- Velvet Energy Gets PE Backing
Warburg Pincus, Trilantic Capital Partners and ZAM Ventures are backing newly formed oil and gas exploration and production company Velvet Energy, the company announced Wednesday. Terms of the investment were not released. CIBC World Markets Inc. acted as financial advisor to Velvet Energy. Velvet Energy is focused on exploration in the Western Canadian Sedimentary Basin region.
- European LP News, June 2011
CDC sees rising returns amidst controversy; HarbourVest makes bid
- PE-Backed Ceres Plans $100M IPO--CORRECTED
Agricultural biotechnology company Ceres Inc., whose shareholders include Warburg Pincus and Monsanto Co., has filed to raise up to $100 million in an initial public offering, Reuters reported. Boston, Massachusetts-based company will use the proceeds for seed production, general corporate purposes and acquisitions. Barclays Capital and Goldman Sachs will be the underwriters.
- Warburg Stands to Make 3x Money on Wall Street Systems Sale, More on Iron Data--UPDATED
I have more info on the Wall Street Systems sale. Yesterday, I reported that ION Trading, which is backed by TA Associates, was buying Wall Street Systems /104940/warburg-deals-wall-street-systems-to-ta-associates/ Warburg Pincus owns a majority of the company. The PE firm expects to make make more than 3x its investment on the sale of Wall Street Systems, a person says. Wall Street Systems is selling for north of $500 million, two sources say. Deutsche Bank is advising on the sale, sources say.
- Warburg Deals Wall Street Systems To TA Associates
For those with Skype overload, /104912/microsoft-buys-skype/ here's a financial technology deal. Several sources are telling me that Warburg Pincus is selling Wall Street Systems to ION Trading, which is owned by TA Associates. It wasn't clear how much TA is paying. Wall Street Systems, with headquarters in New York and London, provides treasury, trading and settlement solutions and services to financial institutions, corporations and central banks. The company has 700 employees and 14 offices globally.