Comvest buys retailer Old Time Pottery

Comvest Partners has acquired Old Time Pottery, a Murfreesboro, Tenn-based retailer of home goods and furnishings. No financial terms were disclosed. Harris Williams advised Old Time Pottery on the transaction. PRESS RELEASE RICHMOND, Va.–(BUSINESS WIRE)–Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Old Time Pottery, Inc. (Old Time Pottery), a retailer of home goods and furnishings, to Comvest Partners (Comvest). The transaction was led by Glenn Gurtcheff, Tim Alexander, Brant Cash, and Rami Fetouh of Harris Williams & Co.’s Consumer Group. “Old Time Pottery has consistently offered customers a truly differentiated shopping experience, as demonstrated by the success of its stores regardless of the local competitive set, geographic region, or retail center type,” said Glenn Gurtcheff, managing director in Harris Williams & Co.’s Consumer Group. “There are tremendous opportunities for further expansion of Old Time Pottery’s footprint and we look forward to seeing the company’s continued growth in partnership with Comvest.” “We continue to see strong demand for growing retail concepts like Old Time Pottery,” added Tim Alexander, managing director in the firm’s Consumer Group. “Consumers are attracted to discount merchandise and Old Time Pottery is delivering the types of returns on new units that experienced retail investors like to see. The market and company dynamics came together to create a compelling investment opportunity.” Headquartered in Murfreesboro, TN, Old Time Pottery is a leading discount retailer of home furnishings with stores in 10 states throughout the Southeast and Midwest regions of the country. Since its founding in 1986, Old Time Pottery has offered customers the broadest product selection in its categories, a differentiated shopping experience, and a compelling customer value proposition. Comvest Partners, with $1.3 billion of assets under management, provides flexible financing solutions to lower-middle market companies through its equity and debt funds, often meeting time-critical and complex funding requirements. Since 2000, Comvest Partners has invested more than $1.9 billion of capital in over 130 public and private companies. Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services. Harris Williams & Co.’s Consumer Group has completed more than 100 transactions in recent years across a variety of verticals, including branded consumer products; consumer services; food, beverage and agribusiness; and restaurant and retail. For more information on Harris Williams & Co.’s Consumer Group and other recent transactions, visit the Consumer Group’s section of the Harris Williams & Co. website. Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.

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Comvest buys retailer Old Time Pottery

Breast implants seller Sientra debuts IPO

Santa Barbara, Calif-based Sientra, a seller of breast implants, has raised $75 million for its IPO after pricing its 5 million shares at $15 per share. The stock began trading Wednesday on the NASDAQ under the ticker symbol “SIEN.” Piper Jaffray and Stifel are serving as lead underwriters. Sientra’s backers include OrbiMed Advisors, Clarus Ventures, Abingworth Management, Goldman Sachs and TIAA-CREF. PRESS RELEASE Santa Barbara, CA – October 28, 2014 – Sientra, Inc. (NASDAQ: SIEN), a medical aesthetics company, announced today the pricing of its initial public offering of 5,000,000 shares of common stock at a public offering price of $15.00 per share, before underwriting discounts and commissions. In addition, Sientra has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock at the same price. The shares are expected to begin trading on the NASDAQ Global Select Market on October 29, 2014 under the ticker symbol “SIEN”. The offering is expected to close on November 3, 2014, subject to customary closing conditions. Piper Jaffray and Stifel are acting as joint book-running managers for the offering. Leerink Partners and William Blair are acting as co-managers. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 28, 2014. The offering will be made only by means of a prospectus. Copies of the final prospectus related to the offering, when available, may be obtained from Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at (800) 747-3924, and by e-mail at prospectus@pjc.com; or from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, by telephone at (415) 364-2720, or by email at syndprospectus@stifel.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Sientra Headquartered in Santa Barbara, California, Sientra is a medical aesthetics company committed to making a difference in patients’ lives by enhancing their body image, growing their self-esteem and restoring their confidence. The Company was founded to provide greater choice to board-certified plastic surgeons and patients in need of medical aesthetics products. The Company has developed a broad portfolio of products with technologically differentiated characteristics, supported by independent laboratory testing and strong clinical trial outcomes. The Company sells its breast implants and breast tissue expanders exclusively to board-certified and board-admissible plastic surgeons and tailors its customer service offerings to their specific needs. The Company also offers a range of other aesthetic and specialty products.

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Breast implants seller Sientra debuts IPO

TPG hires Lazard to sell Australian energy retailer Alinta for about $3.5 bln, say sources-Reuters

(Reuters) – TPG Capital Management LP has hired investment bank Lazard Group LLC to sell Australian gas and electricity retailer Alinta Energy in a deal worth about A$4 billion ($3.54 billion), three sources close to the transaction said. The sale process is expected to commence in early 2015, the sources told Reuters on Wednesday. In 2011, the U.S. private equity giant took Alinta private in a A$2.1 billion debt-for-equity swap. In recent months, TPG has been reported to be considering its exit options. TPG has not decided whether to sell Alinta via a private sale or a share market listing, said two of the sources, declining to be identified due to the sensitivity of the matter. Energy firms are featuring strongly in Australia’s biggest year of M&A activity since 2011, with Cheung Kong Infrastructure Holdings Ltd’s A$2.37 billion purchase of gas pipeline company Envestra Ltd and AGL Energy Ltd’s A$1.5 billion acquisition of two state-owned power stations among the largest of the year. Private equity exits are also driving up Australian M&A activity. TPG’s half-owned hospital company Healthscope Ltd raised A$2.26 billion in the country’s biggest share market listing of the year to date. In a statement, an Alinta spokeswoman confirmed the Lazard appointment and said the company’s owner is “exploring future ownership options for the company”. “This process was always intended as part Alinta Energy’s private equity ownership structure,” she added. TPG declined to comment. The sale of Alinta, which sells gas to 700,000 customers in the state of Western Australia and electricity in South Australia and Victoria states, as well as owning eight power stations and a gas pipeline, comes as Australian governments plan their own sales of energy infrastructure. From 2015, the government of New South Wales state plans to sell a half stake in its electricity distribution network for about A$20 billion and the government of Queensland state plans to raise A$33 billion selling pipelines, ports and power generators.

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TPG hires Lazard to sell Australian energy retailer Alinta for about $3.5 bln, say sources-Reuters

Restaurant operator J. Alexander’s files for IPO-Reuters

(Reuters) – J. Alexander’s Holdings Inc, a casual-dining chain operator backed by Fidelity National Financial Inc, filed with U.S. regulators on Tuesday for an initial public offering of its common shares. The company operates the J. Alexander’s and Stoney River Steakhouse and Grill chains across 14 states in the United States, offering contemporary American cuisine. The Nashville, Tennessee-based company listed Stephens Inc, KeyBanc Capital Markets Inc and Stifel, Nicolaus & Co among underwriters to the IPO. The IPO filing, which included a nominal fundraising target of about $75 million, did not reveal how many shares the company planned to sell or their expected price. The final size of the IPO could be different. The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The company, whose competitors include Del Frisco’s Grill, The Palm and Ruth’s Chris Steak House, intends to list its common stock on the New York Stock Exchange under the symbol “JAXH”. J. Alexander’s will join the list of casual dining chains, including El Pollo Loco Holdings Inc and Zoe’s Kitchen Inc, that have listed this year. Shares of El Pollo Loco and Zoe’s Kitchen are trading above their IPO price. Habit Restaurants Inc, a fast-food chain known for its burgers, has also filed for an IPO, earlier this month. (

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Restaurant operator J. Alexander’s files for IPO-Reuters

Investor group completes Porterbrook acquisition

AIMCo, Allianz Capital Partners, EDF Invest and Hastings have closed its buy of Porterbrook, a UK-based rolling stock leasing company. No financial terms were disclosed. PRESS RELEASE CALGARY, Oct. 29, 2014 /PRNewswire/ – A global consortium including Alberta Investment Management Corporation (“AIMCo”), Allianz Capital Partners (“ACP”), EDF Invest and Hastings Funds Management (“Hastings”) completed the acquisition of Porterbrook Rail Finance Limited (Porterbrook), the UK rolling stock company. Porterbrook is one of three main rolling stock companies (ROSCOs) in the UK that owns and leases a fleet of passenger and freight rolling stock to Train Operating Companies and Freight Operating Companies under long term contracts. It owns 32 per cent of total passenger rolling stock in the UK. “We are excited by the growth opportunities Porterbrook presents. With continued urbanisation, rail passenger demand is expected to increase further, which will drive continued demand for existing and new rolling stock”, said the Consortium. “Porterbrook fits well with our investment strategies as long-term investors.” London, October 23, 2014 About Alberta Investment Management Corporation Alberta Investment Management Corporation is one of Canada’s largest and most diversified institutional investment fund managers, managing an investment portfolio of approximately C$80 billion. AIMCo was established in 2008 to invest for superior long-term investment results for its 27 pension, endowment and government clients in Alberta, including the Alberta Heritage Savings Trust Fund. About Allianz Capital Partners Allianz Capital Partners is the Allianz Group’s in-house investment manager for alternative investments investing only the capital of Allianz insurance companies. With offices in Munich, London, New York and Singapore Allianz Capital Partners manages around EUR 10 billion of alternative assets. The investment focus is on direct investments in infrastructure and renewable energy as well as private equity fund investments. ACP’s investment strategy is targeted to generate attractive, long-term and stable returns while diversifying the overall investment portfolio for the Allianz Group insurance companies. About EDF Invest Created in July 2013, EDF Invest is the unlisted investment arm of EDF’s Dedicated Assets, the asset portfolio which covers its long-term nuclear decommissioning commitments in France. EDF Invest targets three asset classes: Infrastructure, Real Estate and Private Equity. Its Infrastructure portfolio already includes a 50% stake in RTE, the French electricity transmission company, as well as a 20% stake in TIGF, the French gas transport and storage company acquired in 2013 from Total. About Hastings Hastings is a specialist manager dedicated to transforming global infrastructure investment opportunities to deliver long-term value for its investors. With almost two decades of experience, it is one of Australia’s longest-running infrastructure managers. From its headquarters in Melbourne, Hastings has built a global footprint with offices in Sydney, Singapore, London and New York now collectively employing approximately 100 professional staff. It currently manages approximately A$9.2 billion across a number of funds and mandates. Hastings’ clientele totals some 70 institutional investors. The Hastings asset portfolio predominantly comprises utilities, airports, toll roads and seaports in Australia, the UK, Europe and the US. The primary focus is on building a diversified portfolio of equity and debt-based infrastructure investments. The Hastings team covers asset finance, business development, client services, portfolio construction, origination, and infrastructure investing. Hastings’ investment in Porterbrook is being made by Utilities Trust of Australia, The Infrastructure Fund and a separately managed account, which are all managed by Hastings.

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Investor group completes Porterbrook acquisition

MTS recaps Celerion

MTS Health Investors has recapitalized Celerion. No financial terms were disclosed. Celerion is a provider of clinical study solutions to pharmaceutical and biotechnology clients conducting early clinical research. PRESS RELEASE LINCOLN, Neb.–(BUSINESS WIRE)–Celerion announces the successful recapitalization of its business through investment by MTS Health Investors, LLC, the New York-based healthcare private equity firm. MTS has partnered with management and will provide capital to support future growth. With operations throughout North America, Europe and Asia, Celerion provides comprehensive clinical study solutions to pharmaceutical and biotechnology clients conducting early clinical research. The company serves its clients through its global network of owned facilities with a focus on Applied Translational Medicine to support early drug development decisions. “We are excited to partner with MTS as we enter the next phase of our growth. With a strong scientific foundation and commitment to excellence, we have worked to create a market-leading reputation and platform with unique and diversified capabilities to meet the needs of the pharmaceutical industry,” said Susan Thornton PhD, President and CEO at Celerion. “With MTS’s investment we will be provided with additional tools and resources to grow our customer base, drive value to our clients, and explore new pathways for growth.” “MTS has spent a significant amount of time evaluating the outsourced pharmaceutical services sector and believes that Celerion represents an ideal investment platform as a market-leader in early clinical research through Proof-of-Concept studies,” said Curtis S. Lane, Partner at MTS. “Celerion’s leadership has built a company with a stellar reputation and a track record of providing unmatched service and rapid turnaround times to its pharmaceutical and biotechnology clients. We look forward to partnering with the company to provide additional financial and operational resources and to pursue new opportunities for growth.” About Celerion Celerion, a leader in early clinical research, delivers Applied Translational Medicine. Celerion applies our expertise and experience to translating information gained in research discoveries, to knowledge of drug action and effect in humans to support early drug development decisions and the clinical pharmacology labelling of new medicines. With over 40 years of experience and 750 global clinic beds (including 24 in-hospital), Celerion conducts and analyzes First-in-Human, clinical Proof-of-Concept, cardiovascular safety (TQT, robust QT), ADME and NDA-enabling clinical pharmacology studies. Celerion provides expertise on modeling and simulation, study design, medical writing (protocols and reports), clinical data sciences, biostatistics, and PK/PD analysis as well as small and large molecule bioanalytical assays through clinical drug development. Regulatory, drug development and program management complement Celerion’s service offerings. For more information please visit www.celerion.com. About MTS MTS Health Investors, LLC, located in New York, is a healthcare private equity firm that makes investments in operating companies within the healthcare industry. MTS targets companies that provide differentiated and cost-effective solutions in the healthcare and pharmaceutical services industry as well as low-technology manufacturing sectors of the healthcare industry. For further information, please visit www.mtshealthinvestors.com.

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MTS recaps Celerion