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Source: blogs.wsj.com --- 53 days ago
It was in June 2007 that people close to Madison Dearborn Partners were telling Deal Journal that the private-equity firm had decided it wanted to move beyond the middle market and into the deep waters where the big boys hang out. In preparation, it targeted the $10 billion mark for its next fund. Now, MDP is [...] ... Source: www.freep.com --- 7 days ago
Dearborn Divine Child 39, Madison Heights Bishop Foley 20 ...
Source: chicagobusiness.com --- 52 days ago
(Crain’s) — Choppy fundraising waters for investment firms are forcing Madison Dearborn Partners LLC to trim its latest private-equity fund to $7.5 billion from an initial target of $10 billion. A source close to the firm, Chicago’s largest private-equity shop, said its institutional ... ... Source: chicagobusiness.com --- 11 hours ago
A deal that once looked shrewdly timed for Madison Dearborn Partners LLC, last year's $6.3-billion acquisition of Nuveen Investments Inc., is turning out to be just the opposite. Chicago's biggest private-equity firm inked the Nuveen deal the largest-ever leveraged buyout in the ... ... Source: www.thealarmclock.com --- 2 days ago
MessageLabs, out of in Gloucester in the UK, has sold to Symantec for $695M. MessageLabs sells anti-spam on a software as a service model with more than 8M end users at more than 19K clients running the gamut from small business to the Fortune 500. Symantec has been running its own SaaS outfit called Symantec Protection Network, and MessageLabs will be folded into that. The company raised at least $58.9M in funding, including $36M from Catalyst and Madison Dearborn in 2000. MessageLabs did about $145M in revenue during fiscal year 2008, and says it grew by more than 20% over the prior fiscal year. View - site... ... Source: www.bloggingstocks.com --- 1 day ago
Filed under: Other issues , Deals , Private equity , ALLTEL Corp (AT) , Avaya Inc (AV) , Goldman Sachs Group (GS) The trend of private equity firms buying out high tech companies continues. According to Bloomberg News , Silver Lake Partners and TPG will take Avaya Inc. (NYSE: AV ) private for $8.2 billion -- the biggest LBO of a computer networking firm ever. Investors will receive $17.50 a share. That's 4.7% more than yesterday's closing price and 28% more than before speculation about a purchase surfaced on May 29. This is the latest in a string of high tech LBOs. Recent ones include: Acxiom Corp. (NASDAQ: ACXM ), this computer and database services provider, said May 16 it's being bought by Silver Lake and ValueAct Capital Partners LP for about $2.24 billion. Alltel Corp. (NYSE: AT ) this fifth-biggest U.S. wireless service, agreed May 21 to be bought by TPG and Goldman Sachs Group Inc. (NYSE: GS ) for $27.5 billion. CDW Corp (NASDAQ: CDWC ) agreed on May 30 to be acquired by Madison Dearborn Partners LLC for $7.3 billion. I am not sold on the competitive advantages that will result from this deal. Maybe there's some overhead to be cut but I question how much private equity is willing to invest in R&D to jump start Avaya's product pipeline. Peter Cohan is president of Peter S. Cohan & Associates , a management consulting and venture capital firm. He also teaches management at Babson College and edits The Cohan Letter . He has no f ... Source: chicagobusiness.com --- 87 days ago
(Crain’s) — Madison Dearborn Partners LLC’s efforts to raise money for a new private-equity fund is falling short of expectations. Only $4 billion has been raised out of a target of $10 billion, says a source familiar with Madison Dearborn’s fundraising efforts. The company had hoped to ... ... Source: www.bloggingstocks.com --- 46 days ago
Filed under: Deals , Private equity Launched in 1992, private equity firm Madison Dearborn Partners, LLC ("MDP") has grown into a powerhouse. The firm invests in a wide array of industries such as communications, consumer, financial services, health care and so on. However, MDP is now feeling the pressures from the credit crunch. In raising its next fund, investors have been fairly lukewarm. Instead, MDP is now planning to raise a mere $7.5 billion . The original goal was $10 billion. Actually, when compared to the 1990s, this is still a pretty big fund and will generate juicy fees. What's more, MDP is likely to get some nice valuations on deals, which should benefit investors over the long haul. Although, things are far from done. MDP has raised about $4 billion so far, and if the markets continue to be rocky, even the $7.5 billion target could be elusive. Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements . He also operates MergerBook.com . Permalink | Email this | Linking Blogs | Comments ...
Source: cdobs.com --- 97 days ago
The closely watched buy-out of BCE , the Montreal telecommunications group, is set to proceed with its key terms intact following an agreement, announced on Friday between the purchasers and a group of banks to provide financing for the $34bn deal. The transaction, led by the Ontario Teachers Pension Plan and two US private-equity firms, Providence Equity and Madison Dearborn, is the biggest leveraged buy-out in history. ... Source: www.bloggingbuyouts.com --- 88 days ago
Filed under: Rumors , Raising money , Madison Dearborn Partners , Private equity industry Madison Dearborn Partners LLC isn't letting the current environment get in the way of fund raising, at least not according to a report in The Deal . The private equity firm is looking overseas and is including sovereign wealth funds for a new private equity fund of up to $10 billion. This also notes that the first round of the fund closed at $4 billion in mid-April with investments from existing limited partners. But there are also reported problems in the ability to raise funds if the sources are accurate. The Deal is citing a "a well-placed source." Perhaps a memo should be passed out around the firm with the mere message, "Loose lips sink ships." Read | Permalink | Email this | Linking Blogs | Comments ... Source: www.theglobeandmail.com --- 87 days ago
Madison Dearborn Partners LLC will soon get a call from Jim Leech at Ontario Teachers Pension Plan looking for the money that[amp]nbsp;the[amp]nbsp;U.S.-based fund promised as part of the BCE Inc. buyout, but writing the cheque for the 9 per cent stake[amp]nbsp;may be tougher than expected for Madison - Follow link to read full post ... Source: dealbreaker.com --- 88 days ago
Madison Dearborn Partners attempt to raise a fresh $10 billion has faltered, with investors committing just $4 billion, according to Bloomberg's Jason Kelly and Jonathan Keehner. The aim, at this point in the fund raising campaign, was to have raised at least $5 billion, according to "the people" who say this kind of thing to reporters. Although profits at the Madison Dearborn's portfolio companies are said to be ahead of this years targets, the firm has been stung by a dearth of investor interest in private equity and some high profile setbacks. Chief executive officer John Canning Jr. stepped down in November. Pierre Foods, in which Madison Dearborn invested $142 million in equity four years ago, filed for bankruptcy yesterday. Moody's last month lowered its rating outlook for Yankee Candle, which Madison Dearborn bought for $1.4 billion last year. Another 2007 acquisition, the $5.75 billion purchase of asset manager Nuveen Investment, has also run into trouble as the company's profits and assets under management have fallen. Madison Dearborn Misses Target Amid Nuveen, Yankee Candle Woes [Bloomberg] ... Source: www.thedeal.com --- 38 days ago
The nation's second-largest pension fund, the California State Teachers' Retirement System, appears to have lost some its appetite for private equity. The Wall Street Journal is reporting that CalSTRS scaled back its commitment to the Blackstone Group LP's latest fund to $250 million after putting $1.7 billion in the predecessor fund. CalSTRS' decision to scale back its commitment may be indicative of a wider feeling amongst limited partners that the credit crunch will sap LBO activity for some time to come. Although private equity firms continue to raise multibillion-dollar investment vehicles in 2008, they haven't been able to match the torrid fundraising pace set during the days of easy credit. According to Private Equity Analyst, the industry raised $85.5 billion in the first half, a drop off from the $108 billion secured in the same period of 2007. A number of top-tier firms have fallen short of their targets this year. Kohlberg Kravis Roberts & Co. has seen two funds fall short of the goal this year, and Madison Dearborn Partners pulled back the target for its latest fund to $7.5 billion, from $10 billion. In spite of CalSTRS' change in sentiment, Blackstone was still able to close the largest buyout fund ever with $21.5 billion. The firm likely has plenty of other investors hoping to get into a top-tier fund, but if pension funds really are changing their outlook about private equity's prospects, the effect will hit smaller ... Source: www.biofind.com --- 20 days ago
Another long time VWR sales person left the company. from what I have seen, the average sales rep must be only about 26 now. 8t also seems they hire students right out of school or former fisher people. I hear that VWR sales are flat and in some areas declining. maybe it is a good time for Madison Dearborn to do a totally independent questionare for sales people to get a better handle on what the problem is at VWR and why turnover is so high. Senior management doesn't seem to have a clue and doesn't have the answers. ... Source: lbo.djnewsletters.com --- 87 days ago
... Source: www.cardboardconnection.com --- 7 days ago
Former Disney CEO Michael Eisner has some big plans for The Topps Company and they go beyond cards and collectibles. Eisner, whose Tornante Company, along with Madison Dearborn Partners, finalized a $385 million purchase of Topps last October after winning a year long legal battle with Upper Deck. Eisner sees the Internet as the [...] ... Source: www.privateequityanalyst.com --- 83 days ago
... Source: www.pehub.com --- 52 days ago
We’ve talked a lot about fundraising woes in the mega-markets, including problems for such brand-names as Blackstone Group and Clayton, Dubilier & Rice. But we’ve focused the most of Madison Dearborn Capital Partners, which has been trying to secure $10 billion for its sixth effort. Well, no longer. As LBO Wire first reported this morning, the [...] ... Find more results for Madison Dearborn on RSSMicro.com |
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Yesterday, Forbes revealed a new list of the 400 Richest Americans . To be listed, an individual was required to have a net worth of at least $1.3 billion. Curiously, the following six billionaires on the list have a "tie-in" with Cisco or its competition: Michael Krasny - net worth: $1.6 billion Founder of CDW a Cisco Gold Partner Forbes duly notes: Auto dealer's son started used computer sales operation in kitchen after his $3, 3-line ad in the Chicago Tribune to sell old IBM generated high demand. Turned $300 profit on second sale. Founded Computer Discount Warehouse 1984; company became one of world's most profitable resellers of tech products. Retired 2001; company bought by private equity firm Madison Dearborn Partners for $7.3 billion last October. Donated more than $350 million in CDW shares to charity. John Morgridge - net worth: $1.6 billion Chairman emeritus of Cisco Forbes duly notes: U. of Wisconsin grad started career at Honeywell, joined networking firm Cisco as president and chief executive in 1988. Took the company public 2 years later. Increased sales from $5 million to more than $1 billion in 6 years. Stock soared dramatically during the tech bubble. Firm briefly the world's largest; market cap was $555 billion in 2000 but dwindled to $70 billion by the end of 2002 as the bubble burst. Became chairman emeritus 2006. Fortune continues to falter; stock down 38% since last August. With wife, Tashia, has donated $50 mil ...
Madison Dearborn's efforts to dive into the deep end of the leveraged buyout pool may be coming up a bit short as the firm reportedly has scaled back the target for its latest fund to $7.5 billion from $10 billion, according to Dow Jones' Private Equity Analyst . Issues about Madison Dearborn's ability to reach their initial target arose months ago as the firm's limited partner base began questioning the size of the fund and whether a vehicle that was 54% larger than its predecessor could be invested in an environment where leveraged debt has disappeared. In July, The Deal's Christine Idzelis wrote about potential fund raising issues for the vehicle. In mid-April, [Madison Dearborn] made a first close of around $4 billion, a source said, with most of its existing limited partners investing. Other sources, however, have suggested fund raising has not gone as smoothly as might have been anticipated, owing to concerns from some investors that the firm appears to have invested an earlier fund, a $6.5 billion pool raised in 2006, at a rapid pace and at the peak of the market. While $7.5 billion is no small sum, Madison Dearborn's decision is further evidence of the trouble even top name firms are having in closing new mega-funds in light of the slow down in private equity deal making. Even top-tier buyout shop Kohlberg Kravis Roberts & Co. has seen two funds fall short of the goal this year. A domestic fund closed with $17.6 billion i ...