Private equity firm Centerbridge Partners is preparing a sale of Ahead Inc in a deal that could value the enterprise cloud solutions provider at more than $3bn including debt, according to people familiar with the matter.
Chicago-based Ahead is expected to generate $2.5bn in revenue this year, up from $2.2bn in 2021, with annual earnings before interest, taxes, depreciation and amortization of more than $230m, the sources added.
Centerbridge acquired a majority stake in Ahead from buyout firm Court Square for $1.3bn in August 2020. At the time, Berkshire Partners also took a minority stake in Ahead.
Read more: Reuters
