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.

See the article here:
H.I.G. Capital-backed Surgery Partners unveils IPO

Kinetic Technologies buys VC-backed Akros Silicon

Kinetic Technologies has acquired Silicon Valley-based Akros Silicon, a provider of energy management ICs. No financial terms were disclosed. Akros Silicon’s backers included Technology Partners, U.S. Venture Partners, Levensohn Venture Partners and SPM Capital. PRESS RELEASE SUNNYVALE, Calif., Sept. 28, 2015 /PRNewswire/ — Kinetic Technologies, a high-performance analog and mixed-signal semiconductor company focused on developing power management solutions for computing, consumer, industrial, and communications markets, announced the acquisition of Akros Silicon, a leading supplier of intelligent energy management ICs, which integrate high-voltage digital isolation and discrete components into a single device. Terms of the asset transaction were not disclosed. The Power-over-Ethernet market continues to grow and the specifications continue to evolve, enabling new and higher power applications for the future. “We are excited to have the Akros team join Kinetic”, said Kin Shum, CEO of Kinetic Technologies. “They have proven themselves by creating an impressive amount of intellectual property which has enabled a leading position in the PoE market and beyond. The acquisition is consistent with Kinetic’s strategy of acquiring and developing leading edge technology which supports the company’s system architecture expertise. We see the Akros products to be a perfect addition to Kinetic’s broadening product portfolio.” For more information, please visit http://www.kinet-ic.com. About Kinetic Technologies: Kinetic Technologies designs, develops and markets proprietary high-performance analog and mixed-signal power management semiconductors for consumer, computing, industrial and communication markets. The company’s product offering consists of integrated circuits that transform, regulate, deliver and monitor the power consumed by analog and digital semiconductors and other electronic loads. The company develops application-specific products to take care of the power management needs in devices such as mobile phones, smartphones, tablet computers, netbooks, GPS and MID, as well as serving a wide range of industrial, computing and communication product segments. Kinetic Technologies, a Cayman Corporation, has R&D centers in Silicon Valley and Asia, with operations and logistics based in Asia. For more information, please visit www.kinet-ic.com. About Akros Silicon: Headquartered in Silicon Valley, Akros Silicon provides leading edge, intelligent energy management ICs. Akros’ disruptive silicon technology makes it possible to integrate multiple ICs, high-voltage isolation and discrete components into a single device, thus enabling electronic OEMs to develop cost-effective and energy-efficient solutions.

See the original post here:
Kinetic Technologies buys VC-backed Akros Silicon

Carlyle to buy 51% of PA Consulting

The Carlyle Group has agreed to buy a 51 percent stake in PA Consulting Group. The deal values PA at $1 billion. London-based PA is a consulting, technology and innovation firm. PRESS RELEASE LONDON, Sept. 29, 2015 /PRNewswire/ — PA Consulting Group (PA), a consulting, technology and innovation firm and global alternative asset manager The Carlyle Group (NASDAQ: CG), today announced that they have signed an agreement for Carlyle to invest in PA for a 51 percent shareholding of the company. The investment values PA at $1Billion and is expected to close in December 2015, subject to regulatory and pension approvals and a shareholder vote scheduled for November 2015. PA is a leading consulting, technology and innovation firm that has made the difference for businesses, governments and communities worldwide since 1943. PA has produced impressive results before and since the financial crisis and is successfully delivering on an ambitious growth strategy across Europe, the Americas and the Middle East. The partnership with Carlyle will enable PA to build on this success and to accelerate its growth plan through geographic expansion and the acquisition of consultant teams and smaller firms. Importantly, the investment will allow PA to retain independence, alongside current culture, brand and values. The continued share ownership by PA employees is a key feature of the transaction. Capital for this investment will come from Carlyle Europe Partners IV (CEP IV), a European upper-mid market buyout fund. CEP IV has made four other investments in European companies as of September 1, 2015. Alan Middleton, CEO of PA Consulting, said, “PA has made the difference for our clients and communities worldwide for over 70 years. Carlyle’s global reach, business connections and M&A experience will support a step-change in our rate of growth and allow us to continue to maintain our independence and track record for high quality innovation and delivery for our clients.” Marcus Agius, Non-Executive Chairman of PA, commented, “Carlyle have an established reputation for building value through developing the investments they make and our discussions have born fruit because the PA team have recognized a cultural affinity between the two groups. Both of us recognize the value of partnership and, in particular, the sharing of value created.” Eric Kump, Managing Director of Carlyle Europe Partners, said, “PA is at the inflection point of a new growth phase, and we are excited to support the leadership’s ambitious plans.” Alex Stirling, Director of Carlyle Europe Partners, “The consulting sector is going through an exciting phase of development. We have long admired PA’s renowned reputation for delivering exceptional results to clients in both public and private sectors, and for scaling world class innovation from its Technology Center in Cambridge. We are delighted Alan and the team have agreed to partner with us and are excited about our future together as we look to grow the business globally.” About PA Consulting Group PA is an employee-owned firm of over 2,500 people, operating globally from offices across North America, Europe, the Nordics, the Gulf and Asia Pacific. Our specific expertise is in energy and utilities, financial services, health, life sciences, consumer and manufacturing, government, defense and security, transport and logistics. Our deep industry knowledge together with skills in management consulting, technology and innovation allows us to challenge conventional thinking and deliver exceptional results with lasting impact. www.paconsulting.com PA Make the Difference case studies http://www.paconsulting.com/case-studies/makingthedifference/ About The Carlyle Group The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $193 billion of assets under management across 128 funds and 159 fund of funds vehicles as of June 30, 2015. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,700 people in 35 offices across six continents. Web: www.carlyle.com Videos: http://www.carlyle.com/news-room/corporate-videos_new Tweets: www.twitter.com/onecarlyle Podcasts: www.carlyle.com/about-carlyle/market-commentary

Here is the original post:
Carlyle to buy 51% of PA Consulting

Ares Management and Harvest Partners buy Valet Waste

Ares Management LP and Harvest Partners LP have acquired Tampa-based Valet Waste, a provider of amenity services for the multifamily housing sector. The seller was New Mountain Capital LLC. No financial terms were disclosed. Robert W. Baird & Co. acted as financial advisor to Valet Waste on the transaction. PRESS RELEASE LOS ANGELES & NEW YORK–(BUSINESS WIRE)–The Private Equity Group of Ares Management, L.P. (NYSE:ARES) and Harvest Partners, LP announced today that funds managed by each have acquired Valet Waste from investment funds affiliated with New Mountain Capital, LLC. Terms of the transaction were not disclosed. Based in Tampa, Valet Waste is a leading national provider of value-added amenity services to the multifamily housing industry. Valet Waste provides five nights-per-week doorstep waste and recycling collection for more than 400 management companies and owner groups servicing more than 665,000 units across 34 states. The company also offers complementary maintenance services to the multifamily housing industry including nightly maintenance, apartment cleaning, apartment turns and porter services through its Maintenance Plus offering, which launched in 2014. “Valet Waste is a leader in its industry, with a longstanding track record of delivering high-quality service to its customers and providing a top-rated amenity to residents. We are excited to partner with the Valet Waste management team and look forward to supporting the company in its next phase of growth.” said Matt Cwiertnia, Partner in the Private Equity Group of Ares Management. “We are delighted to join Ares and the senior management team as long-term investors in the company,” said Michael DeFlorio, Senior Managing Director of Harvest Partners. “Shawn and his team have built a truly unique business that provides exceptional value to customers and residents. We are excited to invest alongside this first class team to build upon Valet Waste’s leadership position in the market and expand services more broadly across the multifamily housing industry.” “New Mountain Capital has played a vital role in growing Valet Waste during its ownership period – and we thank them for a very successful partnership,” said Shawn Handrahan, President and CEO of Valet Waste. “With the growth opportunities in front of us, this is an opportunity to take the next step and further our position as a market leader in amenity and maintenance services to the multifamily housing industry. We look forward to working with our new partners at Ares and Harvest as they share our vision for long-term growth.” “It was a pleasure to work with the Valet Waste management team as they defined the market, built their business and achieved significant sustainable growth,” said Bert Notini, Managing Director of New Mountain Capital. “We wish Valet Waste continued success in its next stage of expansion.” Proskauer Rose LLP acted as legal advisor to Ares Management and Harvest Partners. White & Case LLP acted as legal counsel to Harvest Partners. Robert W. Baird & Co. acted as a financial advisor and Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal advisor to Valet Waste. About Valet Waste: Since 1995, Valet Waste has been the Multifamily Housing Industry’s leading provider of five-nights-per-week doorstep trash and recycling collection. It currently services over 440 management companies and owner groups throughout the multifamily housing industry that represent over 3.4 million units nationwide. Valet Waste offers the most requested resident amenities and services along with unparalleled and proven customer satisfaction. Its fully insured and uniformed professional valets collect waste and recyclables from residents’ doorsteps and manage multifamily communities’ on-site trash issues by streamlining waste from the doorstep to the dumpster with our proven systems. About Ares Management, L.P. Ares is a publicly traded, leading global alternative asset manager with approximately $88 billion of assets under management as of June 30, 2015 and more than 15 offices in the United States, Europe and Asia. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles. Ares believes each of its four distinct but complementary investment groups in Tradable Credit, Direct Lending, Private Equity and Real Estate is a market leader based on assets under management and investment performance. Ares was built upon the fundamental principle that each group benefits from being part of the greater whole. Visit www.aresmgmt.com for more information. About Harvest Partners, LP Founded in 1981, Harvest Partners, LP (www.harvestpartners.com) is a leading New York-based private equity investment firm pursuing management buyouts and recapitalizations of middle market companies in North America. Harvest focuses on acquiring profitable companies in the business services and consumer, healthcare services, industrial services, and manufacturing and distribution sectors. This strategy leverages Harvest Partners’ 35 years of experience in financing organic and acquisition-oriented growth companies. For more information, please visit www.harvestpartners.com. About New Mountain Capital, LLC New Mountain Capital is a New York-based alternative investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with over $15 billion in aggregate capital commitments. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com.

See original here:
Ares Management and Harvest Partners buy Valet Waste

Comcast to buy 51 percent of Universal Studios Japan for $1.5 billion: Reuters

(Reuters) — U.S. cable company Comcast Corp said on Monday it has agreed to buy a 51 percent stake in Osaka-based theme park operator USJ Co for $1.5 billion. Comcast said in a statement Goldman Sachs Group Inc, Seoul-based private equity firm MBK Partners and others will retain a 49 percent stake in USJ, the operator of Universal Studios Japan. The deal gives USJ an enterprise value of $6.2 billion, Comcast said. Comcast owns Universal Studios and as well as Universal Theme Parks through its NBCUniversal unit.

More:
Comcast to buy 51 percent of Universal Studios Japan for $1.5 billion: Reuters