The number of entities at risk of default climbed to a 10-month high in the three-month period to mid-November, according to Standard & Poor’s. At the same time, Buyouts found another uptick in the number of such companies with a U.S.-based financial backer.
After two years of sluggish deal making in the technology industry, participants in a survey are “modestly bullish” that the pace of mergers and acquisitions will pick up in 2014, according to a report by the law firm Morrison & Foerster.
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Carlyle Group LP is preparing an initial public offering or a sale of PQ Corp that could value the specialty chemical company at up to $3 billion, including debt, people familiar with the matter told sister news service Reuters.
Veronis Suhler Stevenson has fired back against a group of former employees who left to work for another buyout shop, filing a lawsuit accusing them of breach of contract, violations of their duties of loyalty and fiduciary duties, and demanding $10 million in exemplary damages in addition to clawbacks of salary and carried interest.
The Allstate Corporation has launched its first private equity emerging manager program with $100 million to be invested over three years, according to Edgar Alvarado, the company’s head of real estate equity, sister news service peHUB reported.
British fashion and accessories retailer Cath Kidston and its private equity majority owner TA Associates have hired investment bank UBS to consider the firm’s strategic options which could include a sale or partial sale of the business, sister news service Reuters reported.
Aramark Holdings, one of the big club deals from the last decade, is slated to go public next week, sister news service peHUB reported. The IPO would give Aramark’s private equity investors a path to exit, but the food service provider will enter the public markets saddled with much debt.
Centerview Partners, the New York investment bank co-founded by big ticket deal-maker Blair Effron, is quietly moving ahead with plans to raise sector-focused private equity funds aimed at the technology and consumer businesses, according to two people familiar with the firm.
Tomkins Plc, a private equity-owned manufacturer of auto parts and building products, has hired Bank of America Merrill Lynch, Goldman Sachs Group and Morgan Stanley to lead an initial public offering that could value the company at as much as $7 billion, people familiar with the matter told sister news service Reuters.
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