Steve Gelsi
Apax Fund VIII listed as buyer Amalco specializes in metal fabrication Deal gets clearance from antitrust regulators Apax Partners set plans to buy New Jersey-based American Aluminum Company (Amalco) a family-run business founded in 1910, for an undisclosed price, according to a filing. It’s the latest in a string of deal-making for Apax, including an undisclosed stake in weight loss […]
With more GPs striking out on their own, LPs face the daunting task of evaluating deal-makers’ track records. In private equity, success has many fathers, while failure is an orphan. That’s how one GP described the challenging art of portraying and confirming track record when landing a new job, spinning out a new firm or […]
Hanson Building Products seeks add-on deal Lone Star purchased Hanson for $1.4 bln in March Moody’s keeps debt rating unchanged Hanson Building Products will increase its debt by $240 million for its acquisition of Cretex Concrete, a rapid add-on deal inked just a few months after Lone Star Funds purchased Hanson for up to $1.4 billion. Lone Star announced […]
CD&R chalks up lucrative exit price AmeriSourceBergen pays up for growth Debt markets for deals become less generous It’s no wonder buyout pros continue to shy away from many deals as cash-rich strategic players pay up for growth. In one high-profile example of a frothy price, drug wholesaler AmerisourceBergen earlier this month agreed […]
GPs avoiding income tax on management fees Industry group says IRS doesn’t have power to change rule Four key Democratic senators support IRS move Private equity firms are lining up to fight a new regulation proposed by the Internal Revenue Service to stem the use of waivers that allow income from management fees to be taxed at […]
Firm adds on U.S.-based StrongView HGGC aims for rapid growth, takes aim at bigger rivals Firm looks to repeat success of Hybris HGGC is set to spend $180 million to buy U.S.-based email specialist StrongView and combine it with its European marketing automation platform, Selligent, according to a person familiar with the deal. With an […]
Firm to float two $500 mln CLOs a year Antares to also invest in CLO equity Lender searching for treasurer, CIO Antares Capital plans to float about $1 billion in collateralized loan obligations (CLO) a year starting in the fourth quarter, as it gears up as a unit of the Canada Pension Plan Investment Board. Antares, which […]
NSSK headed up by Jun Tsusaka, TPG veteran Two other ex-TPG execs on senior NSSK team Firm closed two deals in less than a yea Tokyo-based NSSK, founded by TPG veterans, is preparing a formal fundraising effort for a $500 million debut fund later this year, according to a source. NSSK, which stands for Nippon Sangyo Suishin Kiko, is […]
Company operates on a 12.2x debt-to-EBITDA ratio Ohio business may benefit from uptick in construction Associated Materials faces semi-annual debt payments of $39 mln Associated Materials Inc, the building products specialist owned by Hellman & Friedman, faces an “elevated risk of default” and may miss a key debt payment in the coming year despite an […]
Terms of settlements not disclosed Riverside Co “excited to be moving forward” VSS had withheld compensation from trio Veronis Suhler Stevenson has ended a legal battle over the departure of three credit-focused executives who joined rival Riverside Co to launch a credit business. VSS agreed to dismiss two suits with prejudice and without costs, according to […]