Vestar to Acquire HealthGrades for $8.20 per Share, $294M Aggregate Price

HealthGrades, Inc. has agreed to be acquired by an affiliate of Vestar Capital Partners V, L.P. for $8.20 per share, representing a 32% premium over its 30-day average closing stock price. The total purchase price for the equity is approximately $294 million. The deal is expected to close in the third quarter of 2010.

Affirma Capital, a Singapore-headquartered private equity firm, has agreed to acquire an entire portfolio of South Korean waste processing assets from Equis Development Pte. for approximately 400 billion won ($294 million). The deal, announced on June 17, 2025, includes Circular Energy Korea (CEK), Korea’s third-largest waste incineration company [1].

Equis, also based in Singapore, initially considered selling a minority stake in CEK but opted for a full exit from its Korean waste asset portfolio following a proposal from Affirma. CEK specializes in waste recovery and energy generation, operating facilities in the Yeosu Industrial Complex, Changwon, and Jeonju. It also sells heat energy generated from waste incineration to nearby industrial plants [1].

Affirma Capital plans to close the CEK deal by the third quarter of this year. The acquisition will deepen Affirma's presence in Korea's waste management sector and strengthen its position in the country's rapidly evolving environmental infrastructure market. Affirma has a history of managing substantial waste management assets in Korea, including its 2024 acquisition of Jentec, Korea's leading landfill operator, and a 2020 investment in EMC Co. [1].

References:
[1] https://www.kedglobal.com/private-equity/newsView/ked202506170008