NEWS & VIEWS

Global private equity and venture capital news and research

Elderly residence provider stockholders back TPG Capital take-private

17 May 2013

elderly_bowls_170sqUS buyout house TPG Capital has moved a step closer to a $278m takeover for elderly residence provider Assisted Living Concepts after the majority of the company’s stockholders backed the deal.

More than 80 per cent of the voting power of ALC’s common stock backed the sale to the buyout house for $12 per class A share and $12.90 for each class B share.

The deal had previously been unanimously approved by the company’s board of directors.

ALC and its subsidiaries operate 210 senior living residences comprising more than 9,300 resident units across 20 states.

The deal is expected to be completed in the summer.

Earlier this year fellow private equity giant The Carlyle Group acquired Monarch Place Piedmont, a 149-unit assisted living community in Oakland, California.

Equity for the investment came from the firm’s dedicated $2.25bn real estate investment fund, Carlyle Realty Partners VI.

Copyright © 2013 AltAssets

FUNDRAISING & INVESTOR RELATIONS


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014