Warburg Pincus related stories
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Tornier BV Trims IPO Size To $183.8Million From $205 Million – ReutersWarburg Pincus-backed Tornier B.V. expects to raise up to $183.8 million when it goes public on Nasdaq, which is lower than the $205 million initial public offering previously planned, Reuters reported. Tornier is a Netherlands-based medical device company. It expects its IPO of 8.8 million shares will be priced at the range of $19 to $21 each.
- Kosmas Energy Seeks To Raise $500 Million Via IPO – Reuters
Kosmos Energy plans to raise up to $500 million through an initial public offering, Reuters reported. Kosmos, which is backed by Blackstone Group and Warburg Pincus filed its plan with the Securities and Exchange Commission. The Hamilton, Bermuda-based company said Credit Suisse, Citigroup and Barclays Capital will underwrite the IPO. The filing did not specify how many shares will be sold in the offering.
- Oaktree Capital Mulling Sale, Other Options For Stock Spirits - Reuters
Oaktree Capital Management plans to start the auction of Stock Spirits this month, sources told Reuters news. Two people familiar with the matter said the Los Angeles-based firm has not definitively decided to sell the European company, and is considering an initial public offering. Stock Spirits produces Polish vodka Czysta de Luxe and Czech plum brandy. It previously hired Credit Suisse to advise it on strategic options.
- BAE Systems To Cancel Auction For Its Platform Solutions Unit - Reuters
BAE Systems Plc plans to cancel the proposed sale of its Platform Solutions unit, Reuters reported. A source close to the company told Reuters that BAE has decision to keep the division. People familiar with the matter earlier told Reuters that General Electric, Eaton Corp. and Warburg Pincus submitted final bids for the subsidiary of the U.K. defense contractor.
- Warburg Pincus Asset Buys Saas Firm
Warburg Pincus’ Wall Street Systems will acquire the corporate treasury manager service belonging to Thomson Reuters. The entity, called Tresura, will be integrated into Wall Street Systems’ existing treasury management solutions with an emphasis on cash management. The international private equity firm controls a majority stake in Wall Street Systems.
- Warbug Pincus Completes $150M Investment In National Penn, Now Owns 16.4% Stake
National Penn Bancshares Inc. (Nasdaq: NPBC) received the rest of the $150 million investment Warburg Pincus LLC of New York agreed to put in the Pennsylvania-based bank holding company. Warbug Pincus now owns about 16.4 percent of the National Penn. The latest investment was worth $86.7 million and it purchased about 14.3 million new issued shares of National Penn. In October, Warburg Pincus made an initial investment of $63.3 million.
- Trover Sale Generates 4.2X Return for Tailwind
The New Year seems bright for Tailwind Capital which recently completed the sale of Trover Solutions and acquired two other companies. In late December, Tailwind sold Trover to ABRY Partners. Tailwind, a New York PE firm, received $60 million at the close, according to a Jan. 7 letter to LPs obtained by peHUB. Tailwind expects to receive another $7 million in future escrow distributions, the letter said. Tailwind has also realized $45 million in dividends from Trover via debt recaps in 2005 and 2007.
- PE Deals Surged in 2010 While Fundraising Still Sucks
Private equity deals may have rebounded in 2010 but fundraising certainly didn’t. According to Preqin, 484 PE funds achieved a final close in 2010 and raised just $225 billion, the lowest amount since 2004. Fundraising was supposed to improve in fourth quarter but that didn’t work out. Only 92 funds reached a final close in the time period, raising just $32 billion, Preqin says. This is down from the 195 funds in fourth quarter 2009 that raised $59.6 billion.
- peHUB First Read
Selling: British defense contractor BAE Systems is dealing http://uk.reuters.com/article/idUKTRE7034EM20110104 its platform solutions division, possibly to PE firm Warburg Pincus Buying: And, the Atheros-Qualcomm deal http://www.reuters.com/article/idUSTRE70351920110104 Growing: At CES, they’re talking about another year of double-digit growth http://blogs.barrons.com/techtraderdaily/2011/01/04/ces-heading-toward-1-trillion-in-electronics-sales/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+barrons%2Ftechtraderdaily%2Ffeed+%28BARRONS.com+Blog%3A+Tech+Trader+Daily%29 for consumer electronics sales Trading: Overseas, stocks did not impress http://www.foxbusiness.com/markets/2011/01/05/futures-head-south-ahead-adp-report/ the Euro weakened and U.S. futures are headed lower
- PE-Backed Kosmos Energy Names CEO
Oil exploration and production firm Kosmos Energy, which is backed by buyout shops Blackstone Group and Warburg Pincus, has named Brian Maxted to the post of chief executive, Reuters reported. Maxted previously served as chief operating officer. The company also named independent director John Kemp III to the post of chairman, Reuters said.