Deals
New York-based private equity firm Lightyear Capital, has acquired Healthcare Benefit Solutions from Fidelity National Information Services (FIS) in a deal worth USD335m.
“FIS has built a market leading position in healthcare account processing and payment services, and this business continues to perform very well,” says Gary Norcross, president and chief operating officer of FIS. “TripleTree was retained to help us understand the considerations associated with the healthcare business. We ultimately made a decision to divest of the business. TripleTree provided us with good alternatives as our advisor and was a solid partner throughout the engagement until closing. The divestiture
AXA Private Equity, a European diversified private equity firm, has acquired Riemser Arzneimittel, an international specialty pharmaceutical company headquartered in Greifswald, Germany.
AXA Private Equity has acquired the shareholdings of Riemser’s founding Braun family and those of various minority stakeholders, including TVM Capital. The completion of the transaction remains subject to approval by the German competition authority.
Riemser operates internationally and has a primary focus on the sales, marketing and lifecycle management of pharmaceutical products for niche therapeutic markets with high medical need in the fields of oncology, anti-infectives and dermatology. In 2011, Riemser, which has around 500 employees on
MSC Care Management, a company backed by private equity firm Monitor Clipper Partners that serves post-discharge and post-injury workers’ compensation claimants, has completed its merger with One Call Medical, a provider of services that lead to faster, more efficient and more cost-effective resolution of claims.
MCP invested in MSC in 2005.
The merger, which was initially announced on 31 July 2012, combines two providers of specialised services that support the workers’ compensation industry. The merged companies will operate under the One Call Medical parent entity.
MSC president and chief executive Joe Delaney will assume the title of president of
The brisk acceleration in middle-market private equity deal volume seen in the last half of 2011 and the first quarter in 2012 stalled out somewhat in the second quarter of 2012, according to GF Data’s second-quarter report.
"Despite an unprecedented availability of capital, improved corporate performance in many sectors and anticipated increases in federal tax rates in 2013, completed deal volume in 2Q was less than expected," says Andrew T. Greenberg, GF Data’s chief executive and co-founder.
GF Data issues detailed reports, available to subscribers, on M&A transactions in the USD10m to USD250m value range completed by middle-market private equity
Raptor Consumer Partners, a consumer-focused growth equity firm, has partnered with obstacle racing series Spartan Race.
John Burns, managing director at Raptor Consumer Partners, will join Spartan Race’s board of directors.
In connection with RCP’s investment, Spartan Race will also work closely with Raptor Accelerator and Raptor Sports Properties, gaining access to their strong relationships and deep expertise in the sports industry.
The terms of RCP’s investment were not disclosed.
RCP’s investment in Spartan Race is the firm’s third investment in a rapidly expanding Boston-area market for growth stage companies. In 2012, RCP invested in a next generation food company,
Interface, a worldwide floor coverings company, has completed the previously announced transaction to sell its Bentley Prince Street business segment to an affiliate of Dominus Capital, a private equity investment firm.
The transaction was closed on terms and conditions consistent with those previously disclosed.
Interface is the world’s largest manufacturer of modular carpet, which it markets under the Interface, FLOR, and Heuga brands. The company is committed to the goal of sustainability and doing business in ways that minimise the impact on the environment while enhancing shareholder value.
Bentley Prince Street manufactures and markets award-winning broadloom, carpet tile and area
South East-based law firm Cripps Harries Hall has been advising on the recommended offer for Kent-based marketing communications agency, WFCA, by Porta Communications.
WFCA is a full-service marketing communications agency, delivering advertising, design, direct, digital and media solutions.
Valued at GBP1.49m, Tunbridge Wells-based WFCA will be acquired by Porta Communications, an international communications and marketing business, which is expanding through acquisition and start-up ventures.
Lead partner Nigel Stanford (pictured) says: “We are delighted to have advised WFCA plc on this very exciting deal and to have had another chance to demonstrate our ability to provide pragmatic, responsive and cost effective
Preqin research indicates that buyout funds are still carrying many portfolio companies purchased during the record-breaking buyout boom period of 2006-2007, with just 28 per cent of deals made in 2006 and 19 per cent made in 2007, having been fully exited by general partners.
Buyout GPs typically look to hold portfolio companies for three to five years in order to add value and then make a profitable exit for their investors, but the fact that many transactions made in 2007 and earlier are still not sold suggests that many GPs active during this period have held onto investments longer
HgCapital has sold Mercury Pharma, the UK-based speciality pharmaceutical company, to Cinven, the European private equity firm, for GBP465m.
Following the sale of Mercury Pharma, 20 per cent of invested capital will have been realised by the HgCapital 2009 vintage fund, HgCapital 6.
Since the start of the global economic downturn in Q3 2008, HgCapital has realised a total of 15 investments, returning approximately GBP1.6bn in proceeds to clients.
HgCapital’s 2006 vintage fund, HgCapital 5, has already returned more than 120 per cent of invested capital to date, from only five full and one partial exit including SLV (4.0x original
Illinois Tool Works’ (ITW) Decorative Surfaces business is to become a new, independent company operating as Wilsonart International, backed by Clayton, Dubilier & Rice (CD&R).
A fund managed by CD&R will invest USD395m in the new freestanding business to acquire a majority ownership stake. ITW will retain an ongoing ownership stake.
Wilsonart’s business units manufacture and distribute high pressure laminates (HPL) and other fine surfacing materials and components used in furniture, office and retail space, countertops, worktops and other applications. Its brands include a leading HPL brand in the US, Canada, Mexico and Germany and one of the best known
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