Private Equity

  • October 23, 2014

    Q&A With Carlton Fields' Seth Joseph

    Institutional investors ask probing questions and expect specific answers. There is an art to ensuring that these disclosures do not prejudice a company’s relationship with a particular customer or business partner, says Seth Joseph, a shareholder with Carlton Fields Jorden Burt PA and former general counsel of both public and pre-IPO tech companies.

  • October 23, 2014

    Dechert Reps PE-Backed Aqua Terra In Permian Basin Deal

    Private-equity backed Aqua Terra Water Management LP said Thursday that it will acquire two saltwater disposal facilities in Texas and a permit for a third in a deal advised on by Dechert LLP.

  • October 22, 2014

    TPG Paid Top Dollar In $394M Gelson's Buy, Arden Says

    Arden Group Inc. on Wednesday urged a California judge to toss a shareholder derivative suit alleging TPG Capital LP's $394 million purchase of Arden's luxury supermarket chain Gelson's stiffed shareholders to enrich Arden's board, arguing boardmembers got sole-bidder TPG to pay over market value.

  • October 22, 2014

    Boart To Recapitalize Under Deal With Centerbridge

    Distressed Australian oil drilling services provider Boart Longyear Ltd. on Wednesday announced a restructuring led by its largest shareholder, Centerbridge Partners LP, that will deleverage its balance sheet by $120 million and loosen the terms of its short-term financing.

  • October 22, 2014

    Don't Miss It: Hot Deals & Firms We're Following This Week

    With so much M&A news this week, you may not have seen some announced deals involving several law firms like WilmerHale, Greenberg Traurig and others. Here, Law360 takes a look at the ones you might have missed.

  • October 22, 2014

    UniTek To Swap Debt For Equity, Go Private In Ch. 11

    Troubled telecommunications installation provider UniTek Global Services Inc.’s private equity stakeholders have reached a deal to take the company private and restructure its debts through a forthcoming prepackaged bankruptcy plan.

  • October 22, 2014

    Deals Rumor Mill: Apollo Global, Advent, Sterigenics

    Apollo Global Management LLC is looking to raise between $2 billion and $3 billion for a second natural resources private equity fund, while Advent International Corp. and Avista Capital Partners are nearing a deal to buy Kremers Urban Pharmaceuticals Inc. from Belgium's UCB SA for as much as $2 billion.

  • October 22, 2014

    Market Drop Could Spell Opportunity For Deal-Hungry PE

    As the stock market struggles to find even ground, private equity investors in search of good deals may be in luck as trouble in the initial public offering market denies companies one way of raising cash and forces deal prices to fall.

  • October 22, 2014

    Prophet Equity Says Insurer Owes $15M For Ex-Worker's Suit

    Prophet Equity LP filed a $15 million suit against Twin City Fire Insurance Co. in Texas court Tuesday, for allegedly breaching a policy by refusing to pay the private equity fund after it was sued by a former employee.

  • October 22, 2014

    Market Rumors: Wingstop, Yodle, ECB

    Private equity-backed chicken wing chain Wingstop is cooking up a potentially $100 million initial public offering, while marketing software maker Yodle is reconsidering its plans for a public debut.

  • October 22, 2014

    SoftBank Leads $100M Financing For Indonesian Online Market

    Japanese telecommunications giant SoftBank Corp. on Wednesday continued its push to become the largest Internet company in Asia by leading a $100 million investment round in Indonesian online marketplace PT Tokopedia.

  • October 22, 2014

    Latham Pilots PR Firm's £200M Purchase Of Media Data Co.

    Private equity-backed public relations services provider Cision will acquire U.K.-based media data provider Gorkana Group Ltd. — its third big deal of the year — with advice from Latham & Watkins LLP, Cision said Wednesday.

  • October 22, 2014

    CVC Capital Sinks €700M Into Finnish Insulation Co.

    CVC Capital Partners has agreed to buy Finnish insulation supplier Paroc Group for €700 million ($890 million), aiming to fund the growth-minded company's penetration across Europe, it said Wednesday.

  • October 21, 2014

    Viamet Gets $60M In Private Financing After Nixing IPO

    Antifungal drugmaker Viamet Pharmaceuticals on Monday scrapped its plans for a $75 million initial public offering and instead opted to raise $60 million in private venture financing and spin off its prostate cancer unit.

  • October 21, 2014

    Deals Rumor Mill: Actavis, Siemens, Yahoo

    Actavis is one of multiple companies interested in buying Omega Pharma, which would be worth up to $5.1 billion, while Siemens is on the verge of divesting its hearing-aid business in a deal that could net the German engineering titan upwards of $2.6 billion.

  • October 21, 2014

    Medical Properties Trust Pays $897M For 40 Medical Assets

    Real estate investment trust Medical Properties Trust Inc. said Monday it is paying €705 million ($897 million) to buy and lease back 40 real estate assets from German post-acute care provider Median Kliniken Group, part of a deal in which the REIT and Waterland Private Equity will acquire Median.

  • October 21, 2014

    Ropes Reps Berkshire In Deal For Info. Management Co.

    Boston-based private equity firm Berkshire Partners said on Tuesday that it has agreed to acquire data protection and record-keeping service provider Access Information Management for an undisclosed amount in a deal advised on by Ropes & Gray LLP.

  • October 21, 2014

    5 Ways To Keep A Dual-Track Process From Going Off The Rails

    Recovering capital markets and booming M&A activity continue to lure companies to a dual-track process that lets them consider an initial public offering while they explore an outright sale. But while there's plenty of upside attached to either outcome, a company and its advisers have to play their cards the right way to cash in.

  • October 21, 2014

    Deutsche AWM Rakes In $1.7B For Latest PE Fund

    Deutsche Asset & Wealth Management announced the closing of its third secondary market-focused fund on Tuesday, and said it will use the nearly $1.7 billion raised to acquire private equity fund interests and other assets in the secondary market.

  • October 21, 2014

    Blackstone Forms New Renewable Energy Company

    As oil prices tumble, private equity giant Blackstone Group LP said on Tuesday that it is back to a different kind of energy: renewable.

Expert Analysis

  • New Lessons From Rural/Metro II For M&A Parties, Advisers

    Peter J. Rooney

    The Delaware Court of Chancery’s decision this month in the case of Rural/Metro Corp. Stockholders Litigation awarding nearly $76 million in damages against a seller’s financial adviser highlights the difficult strategic questions nonsettling defendants face by proceeding alone to trial, including whether to put on trial the conduct of the settling defendants, say attorneys with Orrick Herrington & Sutcliffe LLP.

  • NY Court Limits Rights Of Assignees, Indenture Trustees

    David M. Zensky

    A New York state court decision in Cortlandt St. Recovery Corp. v Hellas Telecommunications will complicate the ability of noteholders to pursue a fraudulent conveyance action — one of several reasons the decision is concerning, say attorneys with Akin Gump Strauss Hauer & Feld LLP.

  • Know The Collateral Consequences Of Financial Reg Action

    Eben P. Colby

    Understanding the collateral consequences of enforcement proceedings at the hands of the U.S. Securities and Exchange Commission or any other financial industry regulator can provide a valuable tool for proactively negotiating with the regulator and avoiding pitfalls arising from a failure to disclose, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • New Jurisdictional Issues When Moving To Quash A Subpoena

    Steven Luxton

    The Nevada federal court's recent ruling in Agincourt Gaming LLC v. Zynga Inc. is an important reminder that a nonparty wanting to challenge a civil subpoena should consider carefully the appropriate jurisdiction in which to file a motion to quash under recently enacted Rule 45, say Steven Luxton and Brad Nes of Morgan Lewis & Bockius LLP.

  • Canada's Proposed Takeover Bid Rules Are Target-Friendly

    Ralph Shay

    Newly proposed amendments to Canada's takeover bid legislation would address long-standing concerns that the current regulatory regime tilts the playing field too far in favor of hostile bidders, says Ralph Shay of Dentons Canada LLP.

  • 10 Things You Must Know Before Engaging In Crowdfunding

    Eliza Sporn Fromberg

    "Accredited crowdfunding" platforms offer the tantalizing possibility of raising funds with the click of a button, but it is vital to consider the regulatory scheme under which the platform operates and its managerial and financial resources, among other factors, say Eliza Sporn Fromberg, counsel at Day Pitney LLP, and Norbert Mehl, CEO of Global i Ventures.

  • Who Runs My Joint Venture?

    Sean A. Bryan

    It is common for investment funds and other entities, whether in the form of a limited liability company or limited partnership, to have boards of advisers or otherwise provide for consultation with nonmanaging equity owners. The partnership or operating agreement should be explicit in granting authority, if any, or disclaiming authority, as is more customary, says Sean Bryan of Akin Gump Strauss Hauer & Feld LLP.

  • What Litigators Can Learn From Novelists

    Michael H. Rubin

    Many legal briefs are written in impenetrable jargon and begin with an introduction telling the court what it already knows, using words that stem from the 18th century, such as “hereinafter.” Instead, we should approach briefs the way novelists approach their writing, says Michael Rubin of McGlinchey Stafford PLLC.

  • Start To Think About Entering China's Health Care Market

    Tim Stratford

    After the news this past July that German hospital operator Artemed had signed a framework agreement to establish the first wholly foreign-owned hospital in the Shanghai Pilot Free Trade Zone, foreign investors anxious for an opening into China’s tightly regulated health care sector may have further reason for optimism, say attorneys with Covington & Burling LLP.

  • Encouraging Gas Development In China — A Work In Progress

    Vincent X. Wang

    Recent Chinese regulatory measures are but a first step in establishing a regime that will encourage foreign investment in midstream gas infrastructure by private investors. More attention needs to be paid to establishing a platform that offers fair rules of play for private businesses seeking to compete with powerful state-owned monopoly players, say Barbara Jost and Vincent Wang of Davis Wright Tremaine LLP.