NHI buys five facilities
Posted on November 20, 2009 at 8:08 amNational Health Investors has acquired four assisted-living centers in Michigan and another in Illinois for about $28 million. The seller, Kansas-based Bickford Senior Living, is leasing back the buildings for 15 years. NHI (Ticker: NHI) has shelled out nearly $90 million on acquisitions so far this year.
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Local firm in on Birmingham apartments acquisition
Posted on November 19, 2009 at 10:50 am
Low-profile investment firm Carter-Haston has partnered with an Ohio company to acquire a 414-unit apartment complex on the south side of Birmingham. The two companies paid Colonial Properties Trust almost $25 million for the 15-year-old property.
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Payment venture raises equity, debt for $37M buy
Posted on November 18, 2009 at 8:21 am
Pace Payment Systems, an ambitious Burton Hills-based payment processing company, has raised almost $19 million in debt and equity, money that will help it merge with a California company. Pace is led by former Prime Office Products CEO Paul Christians and backed by Claritas Capital. Check out its site here.
SEE ALSO: Pace’s SEC filing detailing its offering
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Rash joins M&A fray in Ohio
Posted on at 7:57 amMarty Rash’s RegionalCare Hospital Partners has submitted a bid to buy Clinton Memorial Hospital in Wilmington, Ohio, which also is talking to a joint venture that includes LifePoint.
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Two local firms in Knoxville apartment deal
Posted on November 17, 2009 at 12:31 pm
Josh Flory reports that First Management Services has paid fellow Nashville development company Covenant Capital more than $6 million to buy out its stake in a West Knoxville apartment complex.
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Pharos in RFID acquisition
Posted on November 16, 2009 at 3:07 pmPrivate-equity firm Pharos Capital, which has offices here and in Dallas, has acquired a Kansas-based company specializing in radio frequence identification systems for the logistics market.
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Rash’s target sets a timeline
Posted on at 10:55 am
Coffee Health Group, the holding company for some North Alabama hospitals former Province CEO Marty Rash wants to buy, has hired Shattuck Hammond to help it hammer out a plan and a timeline that will focus on “marrying the ideals of Coffee to potential buyers.”
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Psych Solutions primes the pump
Posted on at 8:07 amHaving already signaled its intent to ramp up acquisitions, Psychiatric Solutions has filed a shelf registration devoted to funding future purchases of about $100 million and another, more overarching shelf with a lot of info still be filled in.
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PureSafety ready to buy
Posted on November 10, 2009 at 2:18 pmWorkforce software provider PureSafety is now working with Avondale Partners in its search for acquisition targets. The Franklin-based company, which employs 100 people locally and moved to Cool Springs earlier this year, made its most recent buy in December 2008, when it acquired Unique Software Solutions.
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Quorum prepares to hand off Arkansas hospital
Posted on November 6, 2009 at 9:56 am
Sparks Hospital in Fort Smith, Ark., has agreed to sell itself to Health Management Associates for about $138 million, which means the two Quorum Health Resources who have been managing the 492-bed facility will soon be on their way back to the CHS home office in Brentwood.
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Go on, book that Vegas trip
Posted on November 4, 2009 at 8:12 am
That’s almost what the investment community is saying to Gaylord Entertainment CEO Colin Reed, who on Tuesday put Sin City on a short list of cities his company may buy its way into.
A good chunk of the hotel/resort operator’s third-quarter earnings call Tuesday focused on Las Vegas, where a bunch of glitzy properties are struggling — or as Reed put it, “operating way below their pro formas” of six or seven years ago. Several analysts pushed Reed to clarify his recently floated strategic option of buying such a troubled property to add to his portfolio.
Generating an appropriate return is priority No. 1, Reed said, and such a return will have to come primarily from serving one of the company’s core customer groups — associations that rotate their meetings around the country each year. Half of those groups, Reed added, will never go to Vegas. The other half wants to be there regularly — and they could be enough to tip Gaylord’s M&A scales in the coming year or so, when Reed thinks the market will really hit bottom.
“I don’t think we should get into too much detail, but we’ve been consistent in telling people over the years that people rotate out of our system to go to Vegas,” Reed said. “Is it a market that interests us? It is. There are probably as well five, six, seven other markets in the United States that interest us as well.”
Investors seem plenty interested, too. Gaylord shares (Ticker: GET) jumped almost 8 percent Tuesday. Put a good chunk of that down to the company’s solid cost controls and the improving performance of its D.C.-area property, but also consider it a sign that the market is confident Reed and his team will soon find something to their liking in the Nevada desert.
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Another heady buy for Genesco
Posted on at 7:40 am
The Nashville-based retailer has acquired Sports Fan-Attic, a chain of 37 stores in seven states, adding another headwear brand to an arsenal it’s been building up since 2004. The companies aren’t disclosing the deal’s price just yet, but if Sports Fan-Attic’s valuation is in line with Genesco’s deals for Hat World and Hat Shack, it was worth about $13 million to Genesco, whose shares (Ticker: GCO) fell almost 2 percent after hours Tuesday.
“We see great long-term potential for growing the Sports Fan-Attic store base, and look forward to bringing Genesco’s collective strength in the mall real estate market and our experience in managing new store growth to that process.”
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Parent of local data center to be acquired
Posted on November 3, 2009 at 11:01 am
The board of Nuvox, a telecommunications company targeting businesses, has agreed to sell the company to Arkansas-based Windstream for more than $600 million. Nuvox this past summer opened a new Nashville data center east of Bicentennial Mall.
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HIMSS absorbs Nashville medical biz
Posted on October 30, 2009 at 8:04 am
The Chicago-based Healthcare Information Management Systems Society, a nonprofit membership group, has acquired Nashville’s Medical Banking Project. Read about how the project will bring together health care IT and banking here.
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Gaylord mulls the M&A route
Posted on October 29, 2009 at 7:36 amThe recession has Gaylord execs scanning the luxury hotel landscape for properties it could acquire and expand into full-fledged resorts. At an investor conference yesterday, Senior VP of Finance Mark Fioravanti told investors about 50 hotels around the country would fit the bill.
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