United Kingdom: Aurora Capital Group Completes Acquisition of Porex Corporation.Byline: sanjayV03 Aurora Capital Group ("Aurora"), a Los Angeles-based private equity firm with over $2.0 billion of assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. , today announced that it has completed the acquisition of Porex Corporation ("Porex" or the "Company"), formerly a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of HLTH HLTH Health HLTH WebMD Corporation (stock abbreviation, AMEX) Corporation (Nasdaq: HLTH), for $142 million in cash and senior secured debt. Gerald L. Parsky, Chairman of Aurora Capital Group, said, "We look forward to working with Porex's management team and talented employees to build upon the Company's past achievements. Aurora is committed to helping Porex expand its strong market position in porous plastics and further enhance its materials science expertise in support of its global customer base." John T. Mapes, Managing Partner of Aurora Capital Group, added, "We are pleased with the successful completion of our acquisition of Porex. Importantly, this transaction, which follows our acquisition of RecoverCare and MedaSTAT, marks Aurora's second platform acquisition to close since the summer. Our investment discipline during the surge in private equity transactions of recent years has allowed us to capitalize on attractive opportunities today. Aurora's increased acquisition pace is a testament to our enthusiasm about the current investing environment." As previously announced, in August 2009 Aurora completed the purchase and merger-of-equals transaction to combine RecoverCare, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , and MedaSTAT USA, LLC, to create a leading provider of wound care and bariatric Bariatric Pertaining to the study, prevention, or treatment of overweight. Mentioned in: Malnutrition treatment solutions for acute and post-acute care markets. Additionally, Aurora portfolio companies have executed six portfolio company tuck-in acquisitions in 2009, with two transactions completed by each of Anthony International, a leader in the U.S. commercial refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. industry and the world's largest manufacturer of specialty glass, Mitchell International, a leading provider of information services See Information Systems. and technology solutions designed to automate and optimize the automobile insurance claims and workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. claims processes, and NuCO2 Incorporated, the nation's largest and sole national provider of bulk CO2 equipment rental and refill solutions. ABOUT AURORA CAPITAL GROUPAurora is a Los Angeles-based private equity firm managing over $2.0 billion that utilizes two distinct investment strategies. Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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