Advance Auto Parts looks for a new driver | Weekly Summary | Transitions
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November 7, 2012
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Advance Auto Parts looks for a new driver
Auto-parts retailer Advance Auto Parts may be prepping to sell itself. The company has hired the deal-advisory arm of the Blackstone Group to help with the process. News last week of the possible sale increased the company's share price 14% to $81. The New York Times/DealBook blog (11/1)
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In This Issue
Weekly Round-Up
Weekly Summary
The private-equity industry is eyeing its next big leveraged buyout, as reports have surfaced that Advance Auto Parts has hired the Blackstone Group's deal-advisory arm to help with a potential sale. The company's share price spiked to its highest point since May, putting the value of the company at roughly $6 billion. With a buyout costing potentially as much as $7 billion, many believe several private-equity firms would have to join together on the deal. Advance Auto Parts has 3,460 stores in the U.S. and was founded in 1929.

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Transitions
CalPERS has named Cheryl Eason as its chief financial officer, a newly created position to oversee the financial and risk-management operations of the pension fund. Eason was most recently a vice president for the British Columbia Pension.

CVC Capital Partners has appointed James Schiro as a senior adviser to the firm. Schiro will become a member of CVC's U.S. and global financial institutions' advisory boards.

Landmark Partners veteran James McConnell, who has worked at the firm for 23 years, is moving to the London office to run European private-equity activities.

Mid Europa Partners has promoted Michelle Capiod to partner. Capiod joined the Central and Eastern European focused-firm in 2003 from Merrill Lynch.
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Trends
Private-equity activity dips in emerging markets
Private-equity investment and fundraising decreased in emerging markets in the first three quarters of 2012. According to the Emerging Markets Private Equity Association, investment in such markets was down about $5 billion compared with the same period a year earlier. Reuters (11/6)
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Bain expects rebound in Southeast Asia
A partner at Bain & Co. expects private-equity activity in Southeast Asia to pick up in the next year. Citing Bain research, he said general partners would increase bets in Southeast Asia as the interest in China and India continues to wane. Bloomberg Businessweek (11/6)
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Video
Privcap talks collaborative investing
Source: Privcap
Industry experts discuss the culture that must be in place at a firm for collaborative investing to thrive. Privcap (free registration required)
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Deals
PE-backed RedPrairie to acquire JDA Software
Business-software company RedPrairie, owned by New Mountain, has agreed to acquire supply-chain logistics specialist company JDA Software in a $1.9 billion deal. RedPrairie will pay $45 per share for JDA. The new company will be led by JDA's chief executive, while the remainder of the board will be composed of RedPrairie's directors, including Tim Pawlenty, a former governor of Minnesota and former Republican candidate for president. The New York Times/DealBook blog (11/1)
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OTPP smiles with latest investment in dental company
The Ontario Teachers' Pension Plan will acquire Heartland Dental Care, a U.S. dental practice management company, for $1.3 billion. The pension plan is acquiring the company from CHS Capital Partners, having outbid KKR, Apax Partners and Madison Dearborn Partners. Reuters (11/5)
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Nike in deal to sell Cole Haan
Athletic-gear company Nike is reportedly close to a deal to sell its Cole Haan line to Apax Partners for $500 million. Cole Haan was put on the chopping block six months ago, when Nike announced its intention to sell the brand. Nike is in the process of refocusing on its core business of athletic shoes and apparel. The New York Times/DealBook blog (11/5)
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Sovereign Wealth Funds
Cameron to Middle Eastern SWFs: Come to the U.K.
U.K. Prime Minister David Cameron pitched British alternative energy projects to some of the most influential sovereign wealth funds in the Middle East during a recent trip. Cameron suggested there was robust opportunity for Middle Eastern investors in U.K. wind farms. He also hinted at a possible sale of British-made Typhoon jets to Middle Eastern countries. Bloomberg Businessweek (11/6)
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Fundraising
AXA eyes $600 million Asian fund
With a target between $500 million and $600 million, AXA Private Equity has launched a fundraising vehicle that will invest across Asia. AXA has over $300 million in commitments already and hopes to reach a final close in nine to 12 months. Fox Business (11/6)
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SmartQuote
Success is often just an idea away."
-- Frank Tyger,
American cartoonist, columnist and humorist
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