Assisted Living's going-private deal could include debt financing

By Angela McDaniels

Tacoma, Wash., Feb. 26 - Assisted Living Concepts, Inc. agreed to be acquired by private investment firm TPG Capital, LP, and the parties have a financing letter that allows for debt financing, according to an 8-K filing with the Securities and Exchange Commission.

Stockholders will receive $12.00 per class A share and $12.90 per class B share. Based on the number of shares outstanding as of Oct. 31, the transaction is valued at $278.25 million.

Assisted Living Concepts will become a subsidiary of Aid Holdings, LLC, an affiliate of TPG Capital. Aid Holdings has an equity financing commitment from TPG Partners VI, LP to fund the merger.

The transaction is subject to shareholder and regulatory approvals, but it is not subject to a financing condition.

Assisted Living Concepts operates senior living residences and is based in Menomonee Falls, Wis.

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