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TPG to sell Chinese hospital operator; CVC to acquire aerospace parts maker

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TPG to sell Chinese hospital operator; CVC to acquire aerospace parts maker

S&P Global Market Intelligence offers our top picks of global private equity news stories and more published throughout the week.

It's a deal

* TPG Capital Management LP affiliates and Shanghai Fosun Pharmaceutical (Group) Co. Ltd. are among the United Family Healthcare shareholders selling the private Chinese hospital operator to New Frontier Corp. for about $1.44 billion in a cash-and-stock deal.

* CVC Capital Partners Ltd. is buying aerospace parts manufacturer Ontic Engineering and Manufacturing Inc. from BBA Aviation PLC for about $1.37 billion.

* Antin Infrastructure Partners agreed to acquire the U.S. district energy portfolio of optimized resource management group Veolia for $1.25 billion.

SNL Image

Veolia is selling its U.S. district energy portfolio to Antin.

Source: Associated Press

* EQT Partners AB and the Canada Pension Plan Investment Board is purchasing a majority stake in Waystar Inc. from Bain Capital Private Equity LP in a deal valuing the cloud-based revenue cycle technology company at $2.7 billion.

* Equistone Partners Europe Ltd. will acquire a majority interest in Bulgin, a U.K.-based developer of environmentally sealed engineered solutions, from Elektron Technology PLC for £105 million.

* GTCR LLC is acquiring Vyve Broadband LLC from BBH Capital Partners and the broadband assets of Eagle Communications Inc. in separate transactions.

* Thoma Bravo LLC agreed to purchase consumer insights and data analytics company J.D. Power.

* TA Associates Management LP-affiliated funds agreed to acquire Wealth Enhancement Group LLC from Lightyear Capital LLC-affiliated funds.

* Gilde Buy Out Partners BV-managed funds agreed to sell Vienna-based Powerlines Group GmbH to Engie SA subsidiary Engie Ineo, formally known as INEO SA.

Carlyle quests

* Carlyle Group LP Co-CEO Kewsong Lee said on the firm's second-quarter earnings call that it expects a significant improvement in its ownership base as it converts into a full C-corporation on Jan. 1, 2020.

* The investor will stop the operations of its $4 billion energy credit unit amid the recent departures of team co-heads David Albert and Rahul Culas, people with knowledge of the matter told Bloomberg News.

On the block

* Bridgepoint Advisers Ltd. is aiming to fetch up to €2 billion on the potential sale or listing of dialysis clinic operator Diaverum, sources close to the matter told Reuters.

* Colony Capital Inc. is in discussions with Dalian Wanda Group Corp. Ltd. for a minority stake in film studio Legendary Entertainment, Bloomberg reported, citing people familiar with the matter.

* Leoni AG is looking to attract interest in its wires and cables unit and has reached to several potential bidders including private equity firms Triton, Bain Capital LP and KKR & Co., people close to the matter told Reuters.

Deal breaker

* BlackRock Inc. ceased discussions with Pamplona Capital Management LLP in relation to the former's acquisition of an additional stake in cybersecurity firm Cofense Inc., The Wall Street Journal reported, citing people familiar with the matter.

* A nonbinding buyout offer from a Comcast Corp.-led consortium, which also includes Blackstone Group Inc., was rejected by Zee Entertainment Enterprises Ltd. as the latter decided to sell up to an 11% stake to another investor.

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CEC Entertainment CEO Tom Leverton and members of the San Antonio Chamber of Commerce at the ribbon-cutting of Chuck E. Cheese's grand reopening in San Antonio.
Source: Associated Press

IPO zone

* Permira Holdings Ltd. is expected to exit Synamedia after at least three years, which could then lead to an IPO of the U.K.-based video software provider, Reuters reported, citing Chairman Abe Peled.

* Thoma Bravo-backed software company Dynatrace Inc. debuted on the New York Stock Exchange on Aug. 1 and priced its IPO at $16 per share.

* CEC Entertainment Inc. scrapped its IPO plans following its parent Queso Holdings Inc.'s decision to terminate its merger agreement with Leo Holdings Corp. The controlling shareholder of Queso is an entity owned by funds managed by Apollo Global Management LLC affiliates.

* EMR Capital Pty. Ltd. is considering an IPO of its four copper mining assets across Australia, Zambia and Chile, Reuters reported, citing CEO Jason Chang.

Capital commitments

* Welsh Carson Anderson & Stowe closed its 13th fund with $4.3 billion of capital commitments, The Wall Street Journal reported, citing people familiar with the matter.

* Glendower Capital LLP collected $2.7 billion for its fourth global secondary fund.

* Advent International Corp. is close to raising $2 billion for its latest technology fund, Reuters reported, citing people familiar with the matter.

Sector intelligence

Banking US community banks see earnings slide in Q2

Energy SoCalGas asks CPUC to pause safety probe over Aliso Canyon cancer 'conflict'

ESG Climate change poses new threat to US cities' long-term creditworthiness

Fintech Israeli fintech builds on 'growth-funding ecosystem,' attracts foreign investors

Healthcare Experts: Ebola a concern, but pandemic flu, 'disease X' more worrisome

Insurance 'Strong' broker/agency pipelines point to another record year for M&A

Metals Tartana Resources eyeing near-term base metals production after August IPO

Real estate New liquid products reviving nontraded REIT market

Retail, consumer products, gaming and leisure Retailers' seasonal hiring plans face labor pressure

Technology, media and telecommunications The business case for protecting the technology behind 'deepfakes'