U.S. Renal Fails To Find Buyer, Pays $137.5 Mln Dividend to Sponsors (Including Cressey & Co.)
U.S. Renal Care, which is backed by several sponsors including Cressey & Co., failed to find a buyer earlier this year and is now paying a dividend to its shareholders, four sources say. Plano, Texas-based U.S. Renal Care, which provides outpatient dialysis services, was up for sale during the spring, three people say. U.S. Renal was looking to sell for multiples that were “pretty lofty,” one source says. The company was looking for bids in the 8-9x range and the market was offering 6-7x, the source says. One banker says U.S. Renal received lots of offers but decided to pass.
9 June 2011•2 mins read
