manoj.b@eempl.com
Warburg Pincus is in talks to buy Procare Software from TA Associates, four sources said. Warburg is paying $550 million, one of the people said. Procare, Medford, Oregon, provides child-care-management software for more than 30,000 child-centered businesses including day-care companies, preschool programs and drop-in centers. Mary Armstrong, a Warburg spokeswoman, declined comment. TA put Procare […]
Oprah Winfrey has invested in True Food Kitchen, a health-driven restaurant chain backed by Centerbridge Partners. Terms weren’t disclosed. Centerbridge will remain controlling shareholder of True Food. Unlike her partnership with Weight Watchers International, Winfrey will not serve as a True Food spokeswoman. Instead, the media mogul is joining True Food’s board and will consult […]
Hooters of America again has gone up for sale, nearly three years after calling off its last process, three sources said. Piper Jaffray is advising on the auction, two of the people said. It’s unclear how much Hooters is seeking. Hooters was last up for sale in 2015; Piper Jaffray also advised at that time, Buyouts […]
Highlander Partners LP, which owns brands Jolly Rancher and Milk Duds, is continuing its push into gummy sweets with its acquisition of Queen City Candy. Financial terms of the deal, announced July 6, weren’t disclosed. Queen City, Greendale, Indiana, makes candies such as gummy bears, neon worms, peach rings and gum drops. Vince Klee is […]
Ascensus, the retirement-plan provider backed by Genstar Capital and Aquiline Capital Partners, could be on its way to a new owner. Genstar and Aquiline have hired Barclays and JP Morgan to find a buyer for Ascensus, three sources said. Ascensus could sell for 15x Ebitda, one of the sources said. It’s unclear when first-round offers […]
Warburg Pincus stands to make more than 6x its money with the sale of Gordian after a six-year hold, according to a source. Fortive Corp said July 2 that it agreed to buy Gordian, the Greenville, South Carolina, provider of construction-cost data, software and services, for about $775 million. Fortive said it expected Gordian to […]
Two processes in the consumer sector are producing two very different results: In one, private equity firms are triumphing over strategics, while the other struggles after a lead banker departed. Arbor Investments’ sale of Rise Baking looks to be in the home stretch. The Chicago PE firm received multiple bids for the company with the […]
Revolution Dancewear, a provider of tutus and tap shoes, has waltzed its way to a new private equity owner. Audax Private Equity said June 28 that it acquired the Niles, Illinois, supplier of costumes and apparel, including leotards, ballet shoes and tights, to more than 12,000 dance-studio customers. Terms weren’t disclosed. Incline Equity Partners and […]
Banks are taking a harder line when lower-middle-market companies run into trouble, an executive told Buyouts Insider’s PartnerConnect Midwest conference. Banks used to be willing to work with companies but have become more difficult, said Lester Alexander III, a partner with lower-middle-market PE firm Jefferson Capital Partners. Now, lenders are a “little quicker” to pull the trigger […]
Accel and 83North doubled down on Celonis, injecting another $50 million into the process mining startup. Other investors of the B round include veteran software executive Alex Ott and Carsten Thoma, co-founder of Hybris. Celonis previously raised $27.5 million in 2016 with the same investors. The current B round values Celonis at $1 billion. “It feels […]