Week in Review: SuperReturn, Taxes, J. Crew

PE powerhouses gathered in Germany this week for the annual SuperReturn International. Carlyle’s Rubenstein generated some attention when he predicted that more private equity firms, especially smaller shops, would begin going public in the next few years. TPG even announced it was considering an IPO in the near future. Other predictions included the investment opportunities of Europe and the unlikeliness of US tax change for PE this year (an interesting prediction given Mr. Camp’s ongoing tax effort).

In other news, J. Crew is rumored to be talking with banks about a 2014 IPO.

Opinions:

• Healthcare carve-outs pique PE interests
• The so-called Blackstone Bill is resurrected
• Tech sector may see more big mergers in 2014
• If nonprofit mergers seem obvious, why aren’t there more?
• LPs putting their faith, and dollars, in PE
• General solicitation off to a slow (but promising) start
• What rising business valuations mean for your next move
• Why is an app worth as much as a small oil field?
• Chase for private equity talent picks up speed
• US healthcare provider M&A activity fueled by low margins and high compliance costs

Transactions:

• Enlightenment Capital invests in Vanguard Space Technologies
• Tower Three Partners invests in Paslin
• Drew Industries acquires Innovative Design Solutions
• XL Global to acquire Global Ag Insurance Services
• Birch Equity Partners invests in Tempo
• Pamlico backs Daxko
• Natural Gas Services invests $100 million in MS Energy Services

Member Spotlight

DelMorgan & Co., a Los Angeles-based investment bank, is excited to announce two recent transactions. In December 2013, the firm acted as the financial advisor to ActiveCare, Inc. More recently, the firm represented TNP and the SRT Shareholders Coalition in a settlement of its proxy fight in January 2014.

With over 75 years of combined experience and over $150 billion in successfully completed transactions, the professionals at DelMorgan focus on providing financial advice and assistance to companies, institutions, governments, and individuals around the world. The firm advises on M&A, capital raises, exit planning, and more.