Teachers picks up U.S. private equity offering
Date: October 28, 2008
The Ontario Teachers Pension Plan showed it can handle more than BCE last week by picking up a $1-billion (U.S.) industrial cleaning company from a rival private equity fund.
In what’s expected to be an increasingly common transaction between fund managers with very different agendas, the deep-pocketed Teachers fund bought Aquilex Holdings from Harvest Partners, a New York-based fund that focuses on mid-market companies. While terms of the transaction were not released, sources say Atlanta-based Aquilex had an enterprise value (debt plus equity) of $1-billion.
Click here to read the full article in the Globe and Mail
Source: Globe & Mail
