Deals
Sidewinder Drilling, a Houston-based land drilling company controlled by private equity firm Avista Capital Partners, is to acquire Union Drilling.
Sidewinder’s wholly-owned subsidiary, Fastball Acquisition, is to acquire all outstanding shares of common stock of Union Drilling for USD6.50 per share, net to the seller in cash, without interest and less any applicable withholding taxes, as of the expiration of the tender offer.
The tender offer expired at 12:00 Midnight on 2 November 2012.
The depositary for the tender offer has advised that, as of the offer’s expiration, 16,405,502 shares of common stock of Union Drilling had been validly tendered
Humana has acquired Certify Data Systems, a specialist in health information exchange (HIE) technology.
Terms of the transaction have not been disclosed.
Hospitals, physicians and laboratories across the nation have adopted the HealthLogix Enterprise HIE platform from Certify. The platform provides two-way sharing of clinical information across disparate electronic health record systems (EHRs), connecting healthcare providers and allowing them to share relevant patient health information in real-time.
“Humana remains focused on leveraging the power of technology to provide a more coordinated patient experience for our members that will enable quality, affordable health care,” says Brian LeClaire, senior vice president and
A fund managed by Blackstone on behalf of its private equity investors, Blackstone Capital Partners V, has completed its purchase of GCA Services Group from Nautic Partners and other minority shareholders.
Credit Suisse and Morgan Stanley acted as M&A advisers to Blackstone and provided financing for the transaction. Simpson Thacher & Bartlett acted as legal counsel to Blackstone.
Robert W Baird acted as lead financial adviser to GCA and Jefferies co-advised the company. Calfee, Halter & Griswold acted as legal counsel to GCA.
AXA Private Equity has participated in the EUR20m capital increase of the online travel agency Bravofly.
Proceeds of the fundraising have been used to finance the acquisition of Rumbo, a Spanish online travel company.
Founded in 2004, Bravofly allows internet users to search, compare and book airline tickets from low-cost and traditional carriers worldwide. Since AXA Private Equity’s first investment in 2010, Bravofly’s global turnover has more than doubled.
The acquisition of Rumbo allows Bravofly to consolidate its positioning and reinforce its presence in over 20 countries worldwide. With the acquisition of Rumbo, the group has now reached a global
MIddle market private equity firm The Sterling Group has completed the acquisition of the Dexter Axle business from Tomkins Industries, a subsidiary of Pinafore Holdings.
The investment is Sterling’s fourth investment in its third fund, an USD820 million fund raised in 2010. Dexter is the second business Sterling has acquired from Tomkins in the last fourteen months.
Dexter is a leading designer and manufacturer of trailer axle, brake, and suspension assemblies and related replacement parts and components for use primarily in the industrial and utility trailer and RV markets in North America. "For over 50 years, Dexter has provided customers
First Investors Financial Services Group has completed its previously announced merger with an affiliate of private equity firm Aquiline Capital Partners.
The total consideration to be received by the former holders of First Investors securities will be approximately USD100 million. First Investors, which is now a wholly-owned subsidiary of a company controlled by Aquiline Capital Partners, has ceased trading of its common stock on the OTC Pink Sheets.
Former shareholders of First Investors will receive instructions shortly for surrendering their stock certificates to Wells Fargo Bank, National Association, who will act as paying agent with respect to the merger. Each
Mindbody, a provider of online business management software to the beauty, health and wellness industry, has completed a USD35m investment round led by Institutional Venture Partners (IVP).
The company’s existing investors, Catalyst Investors and Bessemer Venture Partners (BVP), also participated in the latest investment.
The capital raised will be used to accelerate Mindbody’s international expansion and ongoing product development. Mindbody currently serves over 21,000 health, wellness and beauty-based businesses in 80 countries worldwide.
Mindbody’s SaaS business management solution helps local businesses manage all aspects of their operations within a single system, from web scheduling and staff management, to
Private equity firm GTCR has acquired Premium Credit from MBNA Europe, a subsidiary of Bank of America.
Premium Credit is a provider of payment facilitation and financing services in the UK and Ireland.
GTCR is partnering with new chief executive Andrew Doman and existing management of Premium Credit to recapitalise the company and further invest in the company’s technology and services offerings going forward. Total asset value was approximately GBP900m (USD1,450m).
Founded in 1988, Premium Credit works in partnership with a diverse network of insurance brokers and carriers to enable businesses and individuals to pay insurance premiums in instalments rather
Euro Choice II, the private equity investment programme focusing on the European market, has sold its majority stake in SENIOcare, a long-term care group in Switzerland, to funds managed by private equity investment group Waterland.
Founded in 1983, SENIOcare has 26 nursing homes across Switzerland and over 1,000 residents cared for by over 1,000 full or part-time employees. In 2012, SENIOcare will achieve a turnover of about CHF100m.
Since the investment in late 2007, SENIOcare has seen substantial growth in sales and earnings through focused business development and a re-organisation of the company to tackle growth.
“Management and staff have
TowerBrook Capital Partners has acquired a majority interest in Vistage International, the world’s largest for-profit peer-advisory membership organisation of chief executives and business executives.
With more than 16,000 members in 15 countries, Vistage delivers leadership development and business value to CEOs and key executives in the US and around the world through a professionally-facilitated peer-advisory process, one-on-one coaching and mentoring, content from experts, and connectivity forums.
Vistage was founded in 1957 as TEC (The Executive Committee), a forum for business leaders to share their issues and experiences to help each other generate better decisions and results for their companies. Today,
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