Warburg Pincus related stories
All articles and analysis
Slideshow: Top Performing VC-backed Chinese IPOsQihoo 360 Technology Co. Ltd. hit the cover off the ball http://www.reuters.com/article/2011/03/30/us-qihoo-ipo-debut-idUSTRE72T3UB20110330 in its market debut yesterday. The VC-backed Chinese Internet company priced at $14.50 and soared more than 130% to $34 by the close of the day. As impressive as that was, Qihoo is not the top performing VC-backed Chinese IPO since the start of 2010, according to Thomson Reuters (publisher of this blog). See our slideshow to find out who's No. 1, and where Qihoo ranks in the top 10.
- Warburg Pincus Buys Rural/Metro Corp.
Private equity firm Warburg Pincus will acquire Rural/Metro Corp., a provider of ambulance and private fire protection services. The firm will pay $17.25 per share for the company, a 37% premium over its closing price on March 25. The deal is expected to close at the end of June 2011.
- Shanghai Motels Sees Second Round Bids
Private equity firms have teamed up with several listed hotel chains in the second round of bidding for Chinese hotel group Shanghai Motel Management Co., Reuters reported. China Lodging Group Ltd bid with Bain Capital LLC, General Atlantic and local private equity firm CDH Investments, Reuters said. The Carlyle Group and Warburg Pincus are also reportedly teaming up with hotel chains in competing bids.
- Warburg Pincus’ Cortview Capital Adds New Shops
Cortview Capital Securities, the Warburg Pincus portfolio company, has added new offices in Atlanta, GA; Bellevue, WA; Memphis, TN; and metropolitan Chicago (Sycamore, Il). The company’s CEO and president, Michael Lacovara, said the move is part of the company’s strategy to continue its expansion and offer more opportunities to middle market clients.
- Kosmos Energy Lines Up Debt Financing
Kosmos Energy, which is backed by private equity firms the Blackstone Group and Warburg Pincus, is lining up a bank group to secure $2 billion of seven-year debt in advance of its planned initial public offering, Reuters reported. Kosmos Energy is the owner of 23.9% of the Jubilee oil field in Ghana.
- Spigit Seals $10M From Warburg Pincus
Spigit, a provider of “collaborative innovation management software,” has sealed $10 million in fresh capital from private equity firm Warburg Pincus. The newest funding brings Warburg Pincus’ investment in the company to $20 million, and Spigit’s total funding to $26 million. The money will help Spigit expand its customer base, and bolster its development and sales and marketing.
- VC-Backed Nexus Dx Adds Nemmers to Board
San Diego-based Nexus Dx Inc. has named Joseph Nemmers Jr. to its board of directors. Nemmers is the principal in a private consulting practice specializing in the pharmaceutical and medical device industries, and serves as an advisor to Warburg Pincus. Nexus is backed by investors including Bay City Capital, Kleiner Perkins Caufield & Byers, Prolog Ventures and Warburg Pincus.
- Warburg, Vestar Near $1B Deal for Triton Container
Warburg Pincus LLC and Vestar Capital Partners are close to a deal to buy Triton Container International Ltd from the Pritzker family, Reuters reported. The value of the deal could reach as high as $1 billion. Negotiations are in the “final stage,” Reuters reported.