Greg's Feed
Nov 26, 2014

Exclusive: Apollo Global in the lead to acquire Presidio: sources

By Greg Roumeliotis and Nadia Damouni

(Reuters) – Apollo Global Management LLC (APO.N: Quote, Profile, Research, Stock Buzz) is in advanced talks to acquire Presidio Inc in a deal that could value the information technology consulting company at close to $1.3 billion, including debt, according to people familiar with the matter.

Apollo, a New York-based private equity firm, has outbid other buyout firms, as well as Sirius Computer Solutions Inc, a portfolio company of Thoma Bravo LLC, in the auction for Presidio, the sources said this week.

Nov 20, 2014

FMC taps Goldman, BofA for $1.5bn alkali chemicals unit sale

Nov 20 (Reuters) – Diversified chemical company FMC Corp
said on Thursday it has tapped Bank of America Corp
and Goldman Sachs Group Inc to help with the sale
of its alkali chemicals unit, which sources said could fetch
around $1.5 billion.

The Philadelphia, Pennsylvania-based chemical maker
announced its intention to sell the alkali chemicals business on
Sept. 8, when it unveiled a deal to acquire Cheminova A/S, a
wholly owned subsidiary of Auriga Industries A/S for
$1.8 billion.

Nov 20, 2014

Exclusive – Bain, Hellman, Thoma Bravo compete for Riverbed: sources

By Greg Roumeliotis, Nadia Damouni and Liana B. Baker

(Reuters) – Bain Capital LLC, Hellman & Friedman LLC and Thoma Bravo LLC are among the private equity firms vying for Riverbed Technology Inc, a network equipment maker with a market capitalization of $3.1 billion, according to people familiar with the matter.

The buyout firms submitted expressions of interest for Riverbed this week, the people said. The San Francisco-based company is preparing to send more detailed information to prospective buyers in the coming weeks, the people added.

Nov 18, 2014

Exclusive: KKR, CD&R prepare joint bid for PetSmart – sources

NEW YORK (Reuters) – Buyout firms KKR & Co LP (KKR.N: Quote, Profile, Research, Stock Buzz) and Clayton, Dubilier & Rice LLC (CD&R) have teamed up to take PetSmart Inc (PETM.O: Quote, Profile, Research, Stock Buzz) private for more than $7.5 billion, people familiar with the matter said on Tuesday, as the auction for the pet food retailer heats up.

KKR and CD&R are planning to submit a joint bid for PetSmart next month, the people said. Apollo Global Management LLC (APO.N: Quote, Profile, Research, Stock Buzz) and BC Partners Ltd are also separately considering offers, the people added.

Nov 18, 2014

KKR, CD&R prepare joint bid for PetSmart -sources

NEW YORK, Nov 18 (Reuters) – Buyout firms KKR & Co LP
and Clayton, Dubilier & Rice LLC (CD&R) have teamed up
to take PetSmart Inc private for more than $7.5
billion, people familiar with the matter said on Tuesday, as the
auction for the pet food retailer heats up.

KKR and CD&R are planning to submit a joint bid for PetSmart
next month, the people said. Apollo Global Management LLC
and BC Partners Ltd are also separately considering
offers, the people added.

Nov 18, 2014

Exclusive: Blackstone chases Buffett with ‘core’ private equity

NEW YORK (Reuters) – Blackstone Group LP has reached out to its biggest fund investors about investing in a new investment vehicle with a longer investment horizon than the typical 10-year private equity fund, according to people familiar with the matter.

Dubbed “core” private equity, this vehicle would invest in slower-growing but safer companies, use less debt in buyouts and charge investors lower fees than most private equity funds, these people said. Blackstone is seeking as much as $2 billion apiece from five to six of its biggest public pension fund and sovereign wealth fund investors for the strategy, the people said.

Nov 18, 2014

Blackstone chases Buffett with ‘core’ private equity

NEW YORK, Nov 19 (Reuters) – Blackstone Group LP has
reached out to its biggest fund investors about investing in a
new investment vehicle with a longer investment horizon than the
typical 10-year private equity fund, according to people
familiar with the matter.

Dubbed “core” private equity, this vehicle would invest in
slower-growing but safer companies, use less debt in buyouts and
charge investors lower fees than most private equity funds,
these people said. Blackstone is seeking as much as $2 billion
apiece from five to six of its biggest public pension fund and
sovereign wealth fund investors for the strategy, the people
said.

Nov 11, 2014

Vista Equity takes unusual risks with private equity fund

Nov 11 (Reuters) – Vista Equity Partners has worked in an
unusual clause in its contracts with private equity fund
investors that gives it more financing flexibility and a leg up
in leveraged buyouts, but also carries more risks for it and its
investors, according to people familiar with the matter.

The agreement allows Vista to temporarily finance large
corporate buyouts just with the cash from its $5.8 billion fund,
as against using both debt and equity to buy companies. Under
the right circumstances, this flexibility allows Vista to be
nimble in auctions and secure the best possible debt financing
after it has clinched a deal.

Nov 11, 2014

Exclusive: Clear Channel mulls sale of European assets – sources

By Liana B. Baker and Greg Roumeliotis

(Reuters) – The debt-laden parent of outdoor advertising company Clear Channel Outdoor Holdings (CCO.N: Quote, Profile, Research, Stock Buzz) is exploring options for its European outdoor advertising business after receiving offers from private equity firms, according to four people familiar with the matter.

CVC Capital Partners Ltd is among the buyout firms that have approached Clear Channel with an offer for its European outdoor advertising assets, which could be worth as much as $3 billion, the people said in recent days. Clear Channel may decide to hold on to these assets, the four people added.

Nov 11, 2014

Clear Channel mulls sale of European assets -sources

Nov 10 (Reuters) – The debt-laden parent of outdoor
advertising company Clear Channel Outdoor Holdings is
exploring options for its European outdoor advertising business
after receiving offers from private equity firms, according to
four people familiar with the matter.

CVC Capital Partners Ltd is among the buyout firms that have
approached Clear Channel with an offer for its European outdoor
advertising assets, which could be worth as much as $3 billion,
the people said in recent days. Clear Channel may decide to hold
on to these assets, the four people added.