Content about Private equity firms

August 17, 2012

A report by the Wall Street Journal said that Warburg Pincus and TPG, the private-equity owners of Neiman Marcus Group Inc., are looking for an exit.

Dallas -- A Thursday report by the Wall Street Journal said that Warburg Pincus and TPG, the private-equity owners of Neiman Marcus Group Inc., are looking for an exit.

The firms paid $5.1 billion for Neiman Marcus seven years ago; the company is currently valued, according to analysts, at about $4 billion.

July 24, 2012

Private equity firm Clayton, Dubilier & Rice said it has exited its investment in Sally Beauty Holdings with $1.9 billion in proceeds.

New York -- Private equity firm Clayton, Dubilier & Rice said Monday it has exited its investment in Sally Beauty Holdings with $1.9 billion in proceeds.

CD&R sold all of its 86 million Sally common shares at an average price of $22.68. In 2006, CD&R invested $571 million to acquire 47.5% of Sally Beauty Holdings, from The Alberto-Culver Co. in a leveraged spin-off transaction. All remaining shares were spun off to then-current Alberto-Culver shareholders.

 

July 13, 2012

Darden Restaurants announced that it has agreed to acquire Yard House USA, Inc. for $585 million in an all-cash transaction from private equity firm TSG Consumer Partners LLC.

Orlando, Fla. -- Darden Restaurants announced that it has agreed to acquire Yard House USA, Inc. for $585 million in an all-cash transaction from private equity firm TSG Consumer Partners LLC. Yard House operates 39 restaurants in 13 states.

The brand will become part of Darden's Specialty Restaurant Group, which includes The Capital Grille, Bahama Breeze, Seasons 52 and Eddie V's.

July 10, 2012

Private equity firm Brentwood Associates has acquired a majority stake in Sundance Holdings Group ("Sundance Catalog").

Los Angeles -- Private equity firm Brentwood Associates has acquired a majority stake in Sundance Holdings Group ("Sundance Catalog").

Sundance Catalog, founded by Robert Redford in 1989 and headquartered in Salt Lake City, Utah, is a multichannel direct marketer and specialty retailer of women's apparel and accessories, jewelry and home furnishings. Selling shareholders, including ACI Capital and Webster Capital, will retain a minority ownership stake, and the business will remain under the leadership of current president and CEO Matey Erdos.

July 9, 2012

Private equity firm Golden Gate Capital has provided Coldwater Creek with a five-year, $65 million senior secured term loan.

Sandpoint, Idaho -- Private equity firm Golden Gate Capital has provided Coldwater Creek with a five-year, $65 million senior secured term loan. The retailer also announced the completion of an amendment to its $70 million revolving credit facility with Wells Fargo Capital Finance, which matures on May 16, 2016.

July 5, 2012

Christopher & Banks Corp. said it had received a takeover offer from private equity firm Aria Partners.

Plymouth, Minn. -- Christopher & Banks Corp. said Tuesday it had received a takeover offer from private equity firm Aria Partners. The value set on the retailer is approximately $64 million.

The retailer said it will review the offer.

Aria currently owns 4% of Christopher & Banks shares.
 

June 22, 2012

Edible Arrangements announced a strategic partnership with private equity firm Catterton Partners, which includes a capital investment toward expanding the Edible Arrangements brand globally.

Wallingford, Conn. -- Edible Arrangements announced on Friday a strategic partnership with private equity firm Catterton Partners, which includes a capital investment toward expanding the Edible Arrangements brand globally. 

Terms of the transaction were not disclosed.

In addition, Edible Arrangements founder and CEO Tariq Farid said that Catterton Partners brings significant resources in areas from strategy to customer relations to supply chain management, which will accelerate the company's ability to reach new levels of growth.

June 8, 2012

The Fisher family, the founders of Gap Inc. have acquired a stake in high-end riding-gear and apparel company Ariat International Inc.

New York -- The Fisher family, the founders of Gap Inc. have acquired a stake in high-end riding-gear and apparel company Ariat International Inc.

The Fisher family, along with Ariat management, purchased the firm from LNK Partners and Brentwood Associates. Terms of the sale were not disclosed.
 

June 8, 2012

Private equity firm Madison Dearborn Partners has purchased Things Remembered from Bruckmann, Rosser, Sherrill & Co. (BRS) and GB Merchant Partners for $295 million.

New York -- Private equity firm Madison Dearborn Partners has purchased Things Remembered from Bruckmann, Rosser, Sherrill & Co. (BRS) and GB Merchant Partners for $295 million.

June 5, 2012

The Boston-based private equity firm Thomas H. Lee Partners has agreed to acquire a majority stake in Party City Holdings Inc., Rockaway, N.J., in a deal valued at $2.69 billion.

New York -- The Boston-based private equity firm Thomas H. Lee Partners has agreed to acquire a majority stake in Party City Holdings Inc., Rockaway, N.J., in a deal valued at $2.69 billion.

May 29, 2012

Bombay & Co. Inc. has selected TD Retail Card Services, a unit of TD Bank, to create and administer its private label credit card.

Mahwah, N.J. -- Bombay & Co. Inc. has selected TD Retail Card Services, a unit of TD Bank, to create and administer its private label credit card.

Under the agreement, TD will direct all facets of the program for the Toronto-based company’s 50 stores located in Alberta, British Columbia, Newfoundland, Nova Scotia, Ontario and Quebec. The new Bombay & Co. credit card will offer consumers a full menu of deferred interest and equal pay programs.

May 7, 2012

Barneys New York said that it has reached an agreement with its largest lender, Perry Capital, and other lenders to significantly reduce the retailer’s debt and improve its capital structure.

New York -- Barneys New York said that it has reached an agreement with its largest lender, Perry Capital, and other lenders to significantly reduce the retailer’s debt and improve its capital structure. Under the arrangement, Perry Capital has become the majority owner of Barneys. Under a debt-for-equity swap with Perry Capital, as well as other lenders, Ron Burkle's Yucaipa Cos and current owner Istithmar World, the chain's long-term debt will fall to $50 million from $590 million. The deal makes Perry Capital the majority owner of Barneys.

April 11, 2012

Private equity firm Oak Hill Capital Partners has acquired an 80% ownership stake in the 25-store natural food chain Earth Fare.

New York -- Private equity firm Oak Hill Capital Partners has acquired an 80% ownership stake in the 25-store natural food chain Earth Fare. The deal values the company at $300 million.

February 1, 2012

The Pep Boys — Manny, Moe & Jack, has agreed to be taken private by private equity firm The Gores Group for about $791 million. The total transaction, including debt, is valued at about $1 billion.

Philadelphia -- The Pep Boys — Manny, Moe & Jack, has agreed to be taken private by private equity firm The Gores Group for about $791 million. The total transaction, including debt, is valued at about $1 billion.

Under the terms of the buyout, the Los Angeles-based Gores Group will pay Pep Boys shareholders $15 a share, 24% above the closing price on Friday.

January 30, 2012

The Talbots is in buyout talks with the private-equity firm Sycamore Partners, according to the Boston Herald.

New York City -- The Talbots is in buyout talks with the private-equity firm Sycamore Partners, according to the Boston Herald. The retailer signed a confidentiality agreement on Friday with the New York-based Sycamore, its second largest shareholder with 10% of the company, according to documents filed with the U.S. Securities and Exchange Commission, the report said.

January 11, 2012

Buyout firm The Blackstone Group and real estate investment trust DDR Corp. will buy 46 shopping centers owned by EPN Group for $1.43 billion, which includes the assumption of at least $945 million in debt.

Beachwood, Ohio -- Buyout firm The Blackstone Group and real estate investment trust DDR Corp. will buy 46 shopping centers owned by EPN Group for $1.43 billion, which includes the assumption of at least $945 million in debt.

Blackstone Real Estate Partners VII, an affiliate of Blackstone, will own 95% of the joint venture. DDR will own 5% and invest $150 million in preferred stock with a fixed dividend rate of 10%.

December 20, 2011

Talbots Inc. has rejected a buyout offer from private-equity firm Sycamore Partners its biggest shareholder, saying the bid “substantially” undervalues the company.

New York City -- Talbots Inc. has rejected a buyout offer from private-equity firm Sycamore Partners its biggest shareholder, saying the bid “substantially” undervalues the company. The bid was valued at approximately at $205.2 million.

Sycamore is Talbots biggest shareholder, with a 9.9% in the company. In a statement, Talbots called the proposal inadequate and said it will explore its strategic options to help maximize value for its shareholders. The retailer did not set a deadline for when its review will end.

December 5, 2011

Roundy's Supermarkets Inc., which operates 158 supermarkets under several banners in three states, expects to raise $230 million through an initial public stock offering.

New York City -- Roundy's Supermarkets Inc., which operates 158 supermarkets under several banners in three states, expects to raise $230 million through an initial public stock offering.

The Milwaukee-based Roundy's is currently owned by Chicago private equity firm Willis Stein & Partners. The number of shares to be offered and the price have not yet been determined.

November 18, 2011

Mattress Firm Holding Corp. raised about $105.6 million after pricing its initial public offering at the top of its expected range.

New York City -- Mattress Firm Holding Corp. raised about $105.6 million after pricing its initial public offering at the top of its expected range.

The retailer priced the IPO of 5.6 million shares at $19 each. It had expected shares to sell initially for $17 to $19 each.

Mattress Firm said it will use most of the offering's net proceeds — about $95 million after expenses — to repay $84.4 million in debt and pay fees to its biggest shareholder, Boston private equity firm J.W. Childs.

November 4, 2011

The Great Atlantic & Pacific Tea Co. said Friday that it has secured a $490 million financing package from Ron Burkle’s Yucaipa Cos., Mount Kellett Capital Management and investment funds managed by Goldman Sachs.

Montvale, N.J. -- The Great Atlantic & Pacific Tea Co. said Friday that it has secured a $490 million financing package from Ron Burkle’s Yucaipa Cos., Mount Kellett Capital Management and investment funds managed by Goldman Sachs.

The combination debt and equity financing, which is subject to court approval, will allow the grocer to emerge from Chapter 11 bankruptcy protection early in 2012.

October 13, 2011

Global private equity firm Advent International announced that Thomas Ryan, former chairman and CEO of CVS Caremark Corp., has joined the firm’s Operating Partner Program.

Boston -- Global private equity firm Advent International announced that Thomas Ryan, former chairman and CEO of CVS Caremark Corp., has joined the firm’s Operating Partner Program. He will advise and work closely with Advent’s investment professionals to identify attractive opportunities and generate post-investment value at retail and healthcare companies globally.

Ryan, who joined CVS Caremark in 1974 as a pharmacist, was appointed chief executive in 1994.

October 11, 2011

Discounter 99 Cents Only Stores said Tuesday it has agreed to be acquired by a group of investors including its founding family, Ares Management and Canadian Pension Plan Investment Board for $1.6 billion in cash.

Commerce, Calif. -- Discounter 99 Cents Only Stores said Tuesday it has agreed to be acquired by a group of investors including its founding family, Ares Management and Canadian Pension Plan Investment Board for $1.6 billion in cash.

The announcement ends a months-long sales process, which started with a takeover offer from Leonard Green & Partners in March.

September 30, 2011

Private equity firms Leonard Green & Partners and CVC Capital Partners on Friday completed their $2.8 billion acquisition of BJ's Wholesale Club.

Westborough, N.H. -- Private equity firms Leonard Green & Partners and CVC Capital Partners on Friday completed their $2.8 billion acquisition of BJ's Wholesale Club. The move, which takes the chain private, sets the stage for a stock delisting, effective Monday before the markets open.

The deal was announced in late June after months of speculation. BJ’s shareholders approved the buyout on Sept. 9. The chain currently operates 190 warehouse clubs in 15 states.
 

September 22, 2011

Sur La Table has been acquired by Investcorp, a global asset management firm.

New York City -- Sur La Table has been acquired by Investcorp, a global asset management firm. The Seattle-based retailer, which specializes in kitchen goods, operates 86 stores nationwide.

Investcorp acquired Sur La Table from the Behnke family and investment firm Freeman Spogli & Co., who will both remain as investors in the kitchen goods retailer. Terms of the deal were not disclosed. No management changes are expected.

September 21, 2011

BJ’s Wholesale Club reduced the size and increased the rate on $2.18 billion of loans backing its buyout by Leonard Green & Partners LLP and CVC Capital Partners, Bloomberg reported.

New York City -- BJ’s Wholesale Club reduced the size and increased the rate on $2.18 billion of loans backing its buyout by Leonard Green & Partners LLP and CVC Capital Partners, Bloomberg reported.

The retailer cut a first-lien piece by $50 million to $1.075 billion, the report said, citing a source who declined to be identified.