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Ares and HPS secure $3bn debt for Carlyle’s Baxter kidney-care unit bid.
Eurazeo considers sale of $1bn software firm Elemica.
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CBIZ , a financial, insurance and advisory services provider, agreed to acquire Marcum LLP , an accounting and advisory firm, for $2.3bn.
"CBIZ and Marcum share a dedication to providing high-quality innovative professional services to our clients, and personalized, local client relationships supported by national resources. By joining forces, we will capitalize on our strengths and leverage our similar models to bring more diversified services and even greater subject matter expertise to our clients and attract new business. We both have a proven track record of growth through successful acquisitions, and we are excited to bring these two best-in-class organizations together," Jeffrey Weiner, Marcum Chairman & CEO.
CBIZ is advised by Perella Weinberg and BakerHostetler . Marcum is advised by Deutsche Bank and Dechert LLP .
Admiral Acquisition, a publicly-listed acquisition vehicle, completed the acquisition of Acuren , a North American provider of critical asset integrity services, from American Securities , a private equity firm, for $1.85bn.
"We are thrilled to embark on this new chapter as a public company, strengthened by the addition of our newly appointed board of directors led by Sir Martin E. Franklin and Robert A.E. Franklin. This transaction marks a significant milestone in our journey, enhancing our ability to drive growth within the TIC industry. Our robust capital structure and strategic vision position us to seize new opportunities and continue our trajectory of success," Talman Pizzey , Acuren CEO.
Acuren was advised by Harris Williams and Baird (led by Scot Berg , Mike Lindemann , David Steinkeler and Thomas Fetzer ). American Securities was advised by Prosek Partners and Weil, Gotshal & Manges LLP (led by Mike Lubowitz and Ryan Taylor ). Admiral Acquisition was advised by Jefferies , UBS , Greenberg Traurig, LLP and Collected Strategies (led by ed hammond and Dan Moore ). Financial advisors were advised by Latham & Watkins (led by Jesse Sheff , Jason Morelli and Ryan Maierson ). Debt financing was provided by Citi , Jefferies and UBS .
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Arctos Partners, LLC , a private investment firm, agreed to acquire Hayfin Capital Management LLP , an independent investment firm, from BCI British Columbia Investment Management, a provider of investment management services, for €1.3bn ($1.4bn).
“This is an exciting new chapter that will support Hayfin’s ongoing growth while preserving our core identity and operational autonomy. Arctos has a best-in-class, like-minded team that recognizes the enormous opportunity available to investors in the credit markets today, and their experience only enhances our ability to serve our investors, borrowers and sponsors. Our long-standing team is grateful to BCI for the last seven years of successful collaboration, and we look forward to a continued relationship with them as an investor in our products,” Tim Flynn , Hayfin Co-Founder and Chief Executive Officer.
Hayfin is advised by Goldman Sachs , Moelis & Company , Cleary Gottlieb Steen & Hamilton LLP , Kirkland & Ellis , Macfarlanes , and Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates . BCI is advised by Weil, Gotshal & Manges LLP .
Ares and HPS secure $3bn debt for Carlyle’s Baxter kidney-care unit bid. (FS)
A consortium of direct lenders, including Ares Management Corporation and HPS Investment Partners, LLC , is arranging a $3bn credit facility to support The Carlyle Group ’s potential acquisition of Baxter International Inc. ’s Vantive kidney-care division.
The financing package consists of a $2.5bn unitranche loan and a $450m revolver. Oaktree Capital Management, L.P. is also involved in providing part of the financing, while there is also a provision in the agreement allowing smaller lenders to take positions post-signing.
Eurazeo considers sale of $1bn software firm Elemica. (FS)
Eurazeo is considering a sale of Elemica in a deal that could value the supply-chain software provider at more than $1bn, Bloomberg reported.
The private equity firm has held initial discussions with potential advisers on the possible divestment. Deliberations are at an early stage and Eurazeo could decide to hold the asset.
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