H.I.G. Capital-backed Surgery Partners unveils IPO

Surgery Partners, a portfolio company of H.I.G. Capital, has rolled out its IPO after pricing its 14.29 million shares at $19 per share. The stock began trading Thursday on the NASDAQ under the ticker symbol “SGRY.” BofA Merrill Lynch, Goldman Sachs and Jefferies LLC are serving as lead underwriters. Surgery Partners is surgical services provider. PRESS RELEASE NASHVILLE, Tenn., Sept. 30, 2015 (GLOBE NEWSWIRE) — Surgery Partners, Inc. (the “Company”), a leading healthcare services company, today announced the pricing of its initial public offering (“IPO”) of 14,285,000 shares of common stock at a public offering price of $19.00 per share. The underwriters have also been granted an option to purchase up to 2,142,750 secondary shares from certain of the Company’s stockholders at the public offering price less underwriting discounts and commissions. The Company’s common stock is expected to begin trading on the NASDAQ Global Market under the ticker symbol “SGRY” on October 1, 2015. The offering is expected to close on October 6, 2015, subject to customary closing conditions. BofA Merrill Lynch, Goldman, Sachs & Co. and Jefferies LLC will be acting as joint book-running managers and representatives of the underwriters for the offering. Citigroup, Morgan Stanley, Credit Suisse Securities (USA) LLC, Raymond James & Associates, Inc. and RBC Capital Markets will be acting as joint book-runners, and Stifel will be acting as co-manager. A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on September 30, 2015. The offering is being made only by means of a prospectus. A copy of the final prospectus related to the offering will be filed with the SEC and copies may be obtained, when available, by contacting (i) BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, or by email at dg.prospectus_requests@baml.com, (ii) Goldman, Sachs & Co., 200 West Street, New York, NY 10282, Attn: Prospectus Department, or by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com, or (iii) Jefferies LLC, Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Surgery Partners Surgery Partners is a leading healthcare services company with a differentiated outpatient delivery model focused on providing high quality, cost effective solutions for surgical and related ancillary care in support of both patients and physicians. Founded in 2004, Surgery Partners is one of the largest and fastest growing surgical services businesses in the country, with a portfolio of 99 surgical facilities comprised of 94 ambulatory surgery centers and 5 surgical hospitals across 28 states.

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H.I.G. Capital-backed Surgery Partners unveils IPO

Trive Capital Fund II raises $500mln

Trive Capital Management LLC said Monday that it second fund closed at its $500 million hard cap. Fund II surpassed its $400 million target. The pool will invest in lower middle market companies headquartered in North America. PRESS RELEASE DALLAS, TEXAS Trive Capital Management LLC (“Trive”), the Dallas, Texas-based investment firm, is pleased to announce the final closing of Trive Capital Fund II LP and Trive Capital Fund II (Offshore) LP (together, “Fund II”) with $500 million of capital commitments. Fund II reached its hard-cap in three months and was substantially oversubscribed from its initial $400 million target. “We have a very supportive group of global institutional investors that enabled us to have a quick and efficient fund closing. We believe the significantly over-subscribed fund drew interest from investors attracted to our deep value investing approach, quality of the Trive team and Fund I success to date deploying an operationally-focused investment strategy,” commented Conner Searcy, Managing Partner of Trive. “The close of Fund II caps a busy year for Trive during which we completed three platform investments, four dividend recapitalizations, a successful portfolio company exit and significantly expanded our team.” Fund II’s investment focus will be in lower middle market companies which Trive believes possess transformational upside and would benefit from an operationally-focused partner. Trive also expects to continue to execute on its disciplined approach and seek out special situation investment opportunities across various industry sectors. “Trive’s collaborative, hands-on operational model brings a skill set we believe is absent in many lower middle market businesses, increasing the velocity of shareholder value creation,” commented Chris Zugaro, Partner at Trive. ABOUT TRIVE Trive (www.trivecapital.com) is a Dallas, Texas-based private equity firm focused on investment opportunities in companies headquartered in North America. Trive utilizes a proven operational approach to identify actionable value creation opportunities that allow businesses, shareholders and employees to realize their full long-term potential. * * * * *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 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. Forward-Looking Statements This release may contain forward-looking statements relating to future financial results, business expectations and business transactions. Actual results may differ materially from those predicted as a result of factors over which Trive has no control. Except as required by applicable law, Trive undertakes no obligation to publicly update or revise any forward-looking statements.

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Trive Capital Fund II raises $500mln

Cision prepares bid for UBM’s PR Newswire: Reuters News

(Reuters) — Cision, a provider of public relations software and intelligence, is working on a bid to acquire press release distributor PR Newswire Association LLC, according to people familiar with the matter. Cision, owned by private equity firm GTCR LLC, is participating in an auction run by British communications and events company UBM Plc (UBM.L), which owns PR Newswire, the people said this week. Cision faces competition for PR Newswire and there is no certainty it will prevail, the people added. The sources asked not to be identified because the deliberations are confidential. Cision and UBM declined to comment, while PR Newswire and GTCR did not respond to requests for comment. Reuters reported earlier this year, based on sources, that UBM was looking to sell PR Newswire for more than $700 million. UBM is looking to sell PR Newswire so it can focus on increasing the company’s market share in trade shows and events. It bought trade show company Advanstar Communication Inc for $972 million last year. Based in Chicago, Cision has several products serving PR professionals and journalists. It owns a service called “Help a Reporter Out,” that matches experts with journalists, and PRWeb, a competing service to PR Newswire. GTCR has been acquiring several companies in the public relations software space recently. Last year it bought Cision and merged it with peer Vocus. It subsequently used Cision to acquire Gorkana Group Ltd, a media intelligence and data insights service provider. PR Newswire had revenue of 195.8 million pounds ($300.6 million) in 2014, accounting for 26 percent of UBM’s total revenue and down 3 percent from 2013. Its adjusted operating profit was 44.8 million pounds, down 1.8 percent.

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Cision prepares bid for UBM’s PR Newswire: Reuters News

PE-backed Performance Food Group prices IPO

Virginia-based food products distributor Performance Food Group Company has priced its IPO of 14.5 million shares at between $22 and $25 per share. The stock will list on the New York Stock Exchange under the ticker symbol “PFGC.” Credit Suisse Securities (USA) LLC, Barclays Capital Inc., Wells Fargo Securities LLC and Morgan Stanley & Co. LLC are serving as the lead underwriters. PFGC is backed by Wellspring Capital Management and Blackstone Group. PRESS RELEASE RICHMOND, Va.–(BUSINESS WIRE)–Performance Food Group Company (“PFGC”) today announced it has commenced its initial public offering of 14,500,000 shares of its common stock. PFGC is offering 12,777,325 shares and certain selling stockholders are offering 1,722,675 shares. The initial public offering price is currently expected to be between $22.00 and $25.00 per share. Certain selling stockholders have also granted the underwriters a 30-day option to purchase up to 2,175,000 additional shares at the initial public offering price. PFGC’s common stock has been approved for listing on The New York Stock Exchange under the symbol “PFGC.” Credit Suisse Securities (USA) LLC, Barclays Capital Inc., Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for the offering. Blackstone Capital Markets, BB&T Capital Markets, Guggenheim Securities and Macquarie Capital are acting as co-managers for the offering. A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering may be obtained from: Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, by telephone at 1-800-221-1037, or by email at newyork.prospectus@credit-suisse.com; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847, or by emailing: Barclaysprospectus@broadridge.com. About Performance Food Group Company Through its family of leading foodservice distributors – Performance Foodservice, Vistar and PFG Customized – Performance Food Group Company (PFGC) markets and distributes approximately 150,000 food and food-related products from 68 distribution centers to over 150,000 customer locations across the United States. PFGC’s 12,000+ associates serve a diverse mix of customers, from independent and chain restaurants to schools, business and industry locations, hospitals, vending distributors, office coffee service distributors, big box retailers and theaters. The company sources its products from over 5,000 suppliers and serves as an important partner to its suppliers by providing them access to the company’s broad customer base.

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PE-backed Performance Food Group prices IPO

Long Ridge exits Portware

FactSet Research Systems has agreed to acquire Portware LLC for a cash consideration of $265 million. Portware, which was backed by Long Ridge Equity Partners, is a provider of financial information and analytics. PRESS RELEASE NORWALK, Conn., Sept. 22, 2015 (GLOBE NEWSWIRE) — FactSet Research Systems Inc. (NYSE:FDS) (NASDAQ:FDS), a leading provider of integrated financial information and analytical applications to the global investment community, today announced that it has agreed to acquire all the issued and outstanding membership interests of Portware, LLC (www.portware.com) for cash consideration of $265 million. FactSet will fund the acquisition with an expansion of its existing revolving credit facility. Following regulatory review, the transaction is expected to close before the end of FactSet’s first fiscal quarter. Portware is an award-winning, multi-asset execution management system (“EMS”) that is trusted by the world’s largest asset managers. With global clients that stretch across North America, Asia and Europe, Portware delivers products, services, and solutions that transform the way financial institutions analyze, communicate, and execute investment ideas. Portware achieves its success through its highly customizable EMS and its Alpha Vision analytics. Portware embeds its solutions in the middle of each client’s trading ecosystem as it integrates tightly with other key components. Portware emphasizes automation of simpler trades to free traders to focus on adding more value to the most complex trades. “Portware is a highly innovative firm, with keen insight into the trading ecosystem, and strong recent success in the market. We are thrilled to welcome this talented group of individuals,” said Phil Snow, CEO of FactSet. “Portware’s tools and expertise in trading are an exciting complement to our current offerings. We are excited to enhance the productivity of FactSet users as we integrate Portware into adjacent workflows within our client base.” “Portware’s explosive growth over the last three years, despite the difficult environment, is a testament to our strategy and vision for the industry, and we’re excited to bring our proven innovation and people to join the FactSet family,” said Alfred Eskandar, CEO of Portware. “Like FactSet, we believe in putting our clients first and constantly thinking of ways to enhance the client experience. We’re confident that our similar cultures and commitment to excellence will result in a collaborative environment for our people and an incredible opportunity to develop new and exciting products for the industry.” About FactSet FactSet, a leading provider of financial information and analytics, helps the world’s best investment professionals outperform. More than 62,000 users stay ahead of global market trends, access extensive company and industry intelligence, and monitor performance with FactSet’s desktop analytics, mobile applications, and comprehensive data feeds. FactSet has been included in FORTUNE’s Top 100 Best Companies to Work For, the United Kingdom’s Great Places to Work and France’s Best Workplaces. FactSet is listed on the New York Stock Exchange and NASDAQ (NYSE: FDS | NASDAQ: FDS). Learn more at www.factset.com, and follow us on Twitter: www.twitter.com/factset. About Portware Founded in 2000, Portware, LLC is the financial industry’s leading developer of broker-neutral, automated trading solutions for global equities, futures, options and FX. With offices in New York, London, Hong Kong, and Hyderabad, Portware works in partnership with its clients to create highly integrated solutions to streamline workflow and increase operational efficiencies on trading desks worldwide. Portware’s flagship product, Portware Enterprise, is a fully customizable trade management and execution system for single stock, portfolio, basket, automated and algorithmic trading. For more information, please visit www.portware.com.

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Long Ridge exits Portware