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Stadiums have been empty. Here's why Sixth Street is making a big bet on Legends, the company behind the New York Yankees and Dallas Cowboys luxury suites.

Dallas Cowboys owner Jerry Jones is a cofounder of Legends. Getty Images Sixth Street, a $50 billion global investment firm, made a majority investment in Legends, the hospitality management company launched by the owners of the New York Yankees and Dallas Cowboys.  Sixth Street will join the partnership group alongside Legends cofounders Jerry Jones and Hal Steinbrenner.  Legends is known for its luxury suites at sports and entertainment venues, including working with the New York Yankees...
Tags: London, Trends, Dallas Cowboys, Real Madrid, Airbnb, Goldman Sachs, Yankees, Wall Street Journal, New York Yankees, Silver Lake, Reuters, Steinbrenner, Hal Steinbrenner, Jerry Jones, New Mountain Capital LLC, New Mountain


New Mountain net lease real estate fund raises $533 mln

New Mountain Capital LLC said April 11 that its first net lease real estate fund closed on $533 million of equity capital commitments, including $447 million of third-party limited partner commitments and approximately $86 million from the GP. The target of New Mountain Net Lease Partners LP was $300 million to $350 million. PRESS RELEASE New Mountain Capital Announces $533 Million Net Lease Real Estate Fund New Mountain’s First Net Lease Fund Surpasses Fundraising Target NEW YORK–(BUSINESS WIRE...
Tags: New York, Trends, Funds, NMFC, New Mountain Capital LLC, Teddy Kaplan, New Mountain, New Mountain Finance Corporation NYSE, Steve Klinsky, Limited Partners, New Mountain Net Lease Partners LP, NMNLP New Mountain, NMNLP, New Mountain Net Lease Corporation, New Mountain Capital Any


PE-backed Western Dental acquires Guardian’s DSO

Western Dental Services, which is backed by New Mountain Capital LLC, has acquired Guardian Life Insurance Company’s dental service organization. No financial terms were disclosed. Cain Brothers provided financial advice to Guardian on the transaction. PRESS RELEASE The Guardian Life Insurance Company (“Guardian” or the “Company”) has sold its Dental Service Organization (“DSO”) to Western Dental Services (“Western Dental”). Western Dental is a portfolio company of New Mountain Capital, LLC (“Ne...
Tags: Texas, California, Alabama, Trends, Healthcare, M&a, DSO, Western U S, PE, KeyBanc Capital Markets, Cain Brothers, New Mountain Capital LLC, New Mountain, California Texas Arizona, Western Dental, Western Dental Services


New Mountain backs National HME

New Mountain Finance Corporation, a New Mountain Capital affiliate, has invested more than $20 million into National HME. Headquartered in Irving, Texas, National HME Inc is a provider of medical equipment solutions to the hospice market. PRESS RELEASE IRVING, Texas & NEW YORK–(BUSINESS WIRE)–National HME, Inc. (“NHME” or the “Company”), a leading provider of medical equipment solutions to the hospice market, today announced that it has expanded its existing relationship with New Mountain Financ...
Tags: New York, Trends, Healthcare, Company, The Company, Chris Temple, Irving Texas, PE Deals, NMFC, New Mountain Capital LLC, New Mountain, New Mountain Capital, ABB Optical, Andre Moura, New Mountain Finance Corporation, NHME


New Mountain invests in Beeline

New Mountain Capital has made an investment in Beeline, a provider of cloud-based vendor management solutions. No financial terms were disclosed. The deal is expected to close in August 2018. William Blair & Company and Lazard provided financial advice to Beeline on the transaction. UBS served as financial adviser to New Mountain Capital. PRESS RELEASE JACKSONVILLE, Fla. and NEW YORK, July 26, 2018 /PRNewswire/ — Beeline, a global leader in cloud software solutions that help Fortune 2000 compani...
Tags: New York, Trends, Ubs, Lazard, Ropes Gray LLP, Doug, Kirkland Ellis LLP, Jacksonville Fla, PE Deals, New Mountain Capital LLC, New Mountain, William Blair Company, Beeline, New Mountain Capital, Lars Johansson, Doug Leeby


New Mountain Capital supports MAG

New Mountain Capital has made an investment in Fairfax, Virginia-based MAG Aerospace, a provider of ISR solutions. No financial terms were disclosed. William Blair served as financial adviser to MAG Aerospace while Wells Fargo and Jefferies did likewise for New Mountain Capital. PRESS RELEASE FAIRFAX, Va. and NEW YORK, June 7, 2018 /PRNewswire/ — MAG Aerospace (“MAG”), a leading turnkey provider of ISR solutions, today announced that it has partnered with New Mountain Capital, LLC, a growth-orie...
Tags: New York, US, Trends, Canada, Atlantic, Nato, Fema, United Nations, Un, Jefferies, Caribbean, Joe, Wells Fargo, Fairfax, Ropes Gray LLP, William Blair


New Mountain to sell Medical Specialties Distributors

c PRESS RELEASE New Mountain Capital Agrees to Sell Medical Specialties Distributors to McKesson New York, NY – April 25, 2018 – New Mountain Capital, LLC (“New Mountain”), a growth-oriented investment firm that currently manages more than $20 billion in assets, today announced that it has agreed to sell Medical Specialties Distributors (“MSD”) to McKesson Corporation. New Mountain acquired MSD in December 2013. MSD’s enterprise value approximately tripled during New Mountain’s ownership driven ...
Tags: New York, Trends, M&a, McKesson, Tom Burke, New Mountain Capital LLC, New Mountain, MSD, McKesson New York NY, McKesson Corporation New Mountain, Bert Notini, Andre Moura, Simpson Thacher Bartlett LLP Morgan Stanley Co LLC, Total Enterprise Solution


New Mountain bacs Censeo and Advance Health

New Mountain Capital has acquired a majority ownership stake in two companies: Dallas-based CenseoHealth, a provider of prospective health assessments for health plans and healthcare delivery organizations; and Chantilly, Virginia-based Advance Health, a provider of prospective health assessment. No financial terms were disclosed. Goldman Sachs was financial adviser to Censeo while TripleTree provided financial advice to Advance Health. And, Deutsche Bank served as financial adviser to New Mount...
Tags: New York, Trends, Healthcare, Dallas, Goldman Sachs, Medicare Advantage, Kirkland Ellis LLP, Advance, Chantilly Virginia, Ballard Spahr LLP, PE Deals, New Mountain Capital LLC, New Mountain, Bass Berry Sims PLC, Brian Wise, New Mountain Capital


New Mountain backs Censeo and Advance Health

New Mountain Capital has acquired a majority ownership stake in two companies: Dallas-based CenseoHealth, a provider of prospective health assessments for health plans and healthcare delivery organizations; and Chantilly, Virginia-based Advance Health, a provider of prospective health assessment. No financial terms were disclosed. Goldman Sachs was financial adviser to Censeo while TripleTree provided financial advice to Advance Health. And, Deutsche Bank served as financial adviser to New Mount...
Tags: New York, Trends, Healthcare, Dallas, Goldman Sachs, Medicare Advantage, Kirkland Ellis LLP, Advance, Chantilly Virginia, Ballard Spahr LLP, PE Deals, New Mountain Capital LLC, New Mountain, Bass Berry Sims PLC, Brian Wise, New Mountain Capital


New Mountain backs Cytel

New Mountain Capital has made an undisclosed investment in Cytel Inc. Cain Brothers & Company LLC served as financial adviser to Cytel. Based in Cambridge, Massachusetts, Cytel is a provider of analytical software and services for the life sciences sector. PRESS RELEASE Cambridge, MA and New York, NY – November 1, 2017 – Cytel, Inc., the leading global provider of innovative analytical software and services to the life sciences industry, today announced that it has partnered with New Mountain Ca...
Tags: New York, Trends, Healthcare, Fda, Company, The Company, Matt Holt, Patel, North America Europe, Kyle Peterson, PE Deals, Latham Watkins LLP, Cain Brothers Company LLC, New Mountain Capital LLC, New Mountain, New Mountain Capital


New Mountain to buy DRB from Prairie Capital

New Mountain Capital LLC is buying DRB Holdings LLC from Prairie Capital LP. Financial terms weren’t announced. DRB, of Akron, Ohio, provides devices and software for the car wash industry. BlackArch Partners provided financial advice to DRB and Prairie Capital, while Kirkland & Ellis LLP served as legal counsel to DRB and Prairie Capital. Willkie Farr & Gallagher LLP provided legal counsel to New Mountain Capital. PRESS RELEASE Akron, OH, and New York, NY, October 9, 2017 – DRB Holdings LLC (“D...
Tags: New York, Trends, Bill, Akron, DRB, Akron Ohio, Chicago Illinois, Kirkland Ellis LLP, Akron OH, PE Deals, New Mountain Capital LLC, New Mountain, Pete Masucci, Prairie Capital, BlackArch Partners, New York New Mountain


Thoma Bravo to sell Sparta Systems to New Mountain

New Mountain Capital will acquire Hamilton, New Jersey-based Sparta Systems, a provider of cloud and on-premise quality management software. The seller is Thoma Bravo. No financial terms were disclosed. Lazard served as exclusive financial adviser to Sparta on the transaction while William Blair & Company did likewise for New Mountain Capital. The deal is expected to close in the third quarter of this year. PRESS RELEASE HAMILTON, N.J. and NEW YORK, July 17, 2017 /PRNewswire/ — Sparta Systems In...
Tags: Asia, Europe, New York, San Francisco, Trends, Chicago, Lazard, Hamilton, Sparta, Eileen, Kirkland Ellis LLP, Thoma Bravo, PE Deals, New Mountain Capital LLC, New Mountain, William Blair Company


New Mountain buys OneDigital Health and Benefits

New Mountain Capital LLC has acquired a majority of OneDigital Health and Benefits. Financial terms weren’t announced. Fidelity National Financial Ventures is the seller. OneDigital, of Atlanta, is an employee benefits-only company. TripleTree advised OneDigital. PRESS RELEASE ATLANTA–(BUSINESS WIRE)–OneDigital Health and Benefits (“OneDigital”), the nation’s largest employee benefits-only company, announced today that it signed a definitive agreement to partner with New Mountain Capital, LLC (“...
Tags: New York, America, Trends, Atlanta, PE Deals, New Mountain Capital LLC, New Mountain, New Mountain Capital, Pete Masucci, OneDigital Health, OneDigital Health and Benefits Financial, Fidelity National Financial Ventures, New York City New Mountain, OneDigital, Adam Bruckman, Robert Mulcare


New Mountain invests in Legends Hospitality

New Mountain Capital LLC has invested in Legends Hospitality LLC. Financial terms weren’t announced. New Mountain will own a minority of Legends, while the deal values the company at $700 million, according to press reports. With offices in New York and Los Angeles, Legends is a stadium management company that provides services to facilities including Yankee Stadium, AT&T Stadium, nearly 40 Live Nation venues and One World Observatory. The New York Yankees and Dallas Cowboys reportedly own a maj...
Tags: New York, Los Angeles, Trends, Indianapolis, Dallas Cowboys, New York Yankees, Yankee Stadium, Seth, Michael Rapino, PE Deals, New Mountain Capital LLC, New Mountain, New Mountain Capital, Legends Hospitality LLC, Los Angeles Legends, One World Observatory The New York Yankees


Why Shares of TRC Companies, Inc. Popped 46% Today

Shares of TRC Companies, Inc. (NYSE: TRR) jumped as much as 46% today after the engineering and construction company agreed to go private. At 12:15 p.m. EDT, the stock is trading within a few pennies of its daily high. Investment manager New Mountain Capital, LLC has agreed to buy TRC Companies in an all-cash transaction for $17.55 per share. The press release announcing the transaction said it anticipated the deal will close by June 30, 2017, which is a short turnaround for a deal this size. ...
Tags: Finance, TRC Companies Inc, Industrials, New Mountain Capital LLC, TRC Companies, 10% Promise, Travis Hoium, TRR, TRC Companies Inc NYSE, 38d32a46-162f-11e7-a2a6-0050569d4be0


New Mountain to acquire TRC Companies

New Mountain Capital has agreed to acquire TRC Companies for $17.55 per share. Houlihan Lokey Capital Inc is providing financial advice to TRC on the deal while Covington & Burling LLP is providing legal advice. Also, Barclays is serving as M&A adviser to New Mountain and Kirkland & Ellis LLP is providing legal advice. The deal is expected to close before June 30, 2017. Based in Lowell, Massachusetts, TRC Companies is an engineering, environmental consulting and construction management firm that...
Tags: New York, Trends, Nyse, Kirkland Ellis LLP, Lowell Massachusetts, TRC, Covington Burling LLP, PE Deals, New Mountain Capital LLC, New Mountain, Houlihan Lokey Capital Inc, TRR, TRC Companies Inc NYSE, TRC s Board of Directors TRC, U K TRC, Chris Vincze


New Mountain invests in Island Medical Management

New Mountain Capital has invested in Island Medical Management LLC. Financial terms weren’t announced. Hauppauge, New York-based Island Medical provides outsourced healthcare practice management services to emergency departments, hospitalist programs, and hospital-based urgent care centers. PRESS RELEASE ISLAND MEDICAL MANAGEMENT PARTNERS WITH NEW MOUNTAIN CAPITAL New Mountain Capital provides growth capital to leading provider of outsourced healthcare practice management services Hauppauge, NY ...
Tags: New York, Trends, United States, New York Ny, Hauppauge NY, PE Deals, New Mountain Capital LLC, New Mountain, Hauppauge New York


New Mountain to merge portfolio companies Avantor and NuSil

Avantor Performance Materials and NuSil Technology LLC, which are both backed by New Mountain Capital, have agreed to merge. No financial terms were disclosed for the deal that’s expected to close in late September. The newly combined company will be named Avantor and provide performance materials and solutions for the biotech, pharmaceutical, medical device, diagnostics, aerospace and defense and semi-conductor sectors. PRESS RELEASE CENTER VALLEY, PA and CARPINTERIA, CA–(Marketwired – August 3...
Tags: Usa, New York, Trends, M&a, North America, Baker, Matt Holt, Carpinteria, New Mountain Capital LLC, New Mountain


Blackstone challenges Honeywell with JDA financing plan: Reuters

(Reuters) — Blackstone Group LP (BX.N) has offered a financing plan to help debt-laden U.S. supply chain management company JDA Software Group Inc, giving it an alternative option to selling itself to Honeywell International Inc (HON.N), people familiar with the matter said. The move illustrates how Blackstone, the world’s largest private equity firm, pursues innovative ways to secure deals when traditional leveraged buyouts are less attractive financially amid competition from companies such as...
Tags: Trends, Blackstone, Reuters, Honeywell, JDA, PE Deals, New Mountain Capital LLC, New Mountain


Blackstone challenges Honeywell with JDA financing plan, say sources: Reuters

Blackstone Group LP (BX.N) has offered a financing plan to help debt-laden U.S. supply chain management company JDA Software Group Inc, giving it an alternative option to selling itself to Honeywell International Inc (HON.N), people familiar with the matter said. The move illustrates how Blackstone, the world’s largest private equity firm, pursues innovative ways to secure deals when traditional leveraged buyouts are less attractive financially amid competition from companies such as Honeywell. ...
Tags: Trends, Blackstone, Reuters, Honeywell, JDA, PE Deals, New Mountain Capital LLC, New Mountain, Blackstone Group LP BX N


Honeywell explores acquisition of JDA Software: Reuters

(Reuters) — Honeywell International Inc is in talks to acquire JDA Software Group Inc, in a deal that could value the U.S. supply chain management software company at around $3 billion, including debt, according to people familiar with the matter. The acquisition would illustrate how Honeywell, a U.S. diversified industrial conglomerate, is keen to boost its automation portfolio after it agreed last month to acquire Intelligrated Inc, a U.S. distribution systems and logistics company, for $1.5 b...
Tags: Trends, M&a, Reuters, Honeywell, Scottsdale Arizona, Moody s Investors Service, Reuters Honeywell International Inc, New Mountain Capital LLC, New Mountain


New Mountain-backed MSD appoints Burke as CEO

MSD, a portfolio company of New Mountain Capital, has named Tom Burke as CEO. Previously, Burke worked at Cardinal Health where he most recently was the senior vice president and general manager of the innovative delivery solutions division. Also, he is the former CEO of Novis Pharmaceuticals. Based in Stoughton, Massachusetts, MSD is a provider of supply chain, medical device management and technology solutions that speed the transition of care from acute care to low-cost alternate sites. PRESS...
Tags: New York, Beck, Trends, ISO, People, Gm, Tom, Jim, Burke, SVP, Tom Burke, Cardinal Health, New Mountain Capital LLC, New Mountain, Stoughton Massachusetts


New Mountain backs skin care products maker Topix

New Mountain Capital has made an undisclosed investment in Topix Pharmaceuticals Inc. Based in Amityville, New York, Topix is a maker of skin care products. PRESS RELEASE AMITYVILLE, N.Y. & NEW YORK–(BUSINESS WIRE)–Topix Pharmaceuticals, Inc., a leading provider of innovative therapeutic and cosmetic skin care products, today announced that it has partnered with New Mountain Capital, LLC, a growth-oriented investment firm that currently manages over $15 billion in assets. Headquartered in Amityv...
Tags: New York, Trends, GMP, Topix, PE Deals, New Mountain Capital LLC, New Mountain


New Mountain hires Kaplan as MD

New Mountain Capital LLC hired Teddy Kaplan as a managing director. Kaplan will head New Mountain’s efforts to add net lease real estate to the firm’s existing range of credit and yield offerings.  Previously Kaplan was a managing director in the net lease real estate group of Angelo, Gordon & Co. PRESS RELEASE NEW YORK – February 11, 2016 – New Mountain Capital, LLC (“New Mountain”), a firm which manages approximately $15 billion of private equity, public equity and credit assets, announced tod...
Tags: New York, People, Kaplan, NMFC, New Mountain Capital LLC, Teddy Kaplan, New Mountain, Angelo Gordon Co PRESS, Net Lease Real Estate group of Angelo Gordon Co, Angelo Gordon, Carey Inc, New Mountain Finance Corporation NYSE, Steve Klinsky