Verizon Media Marketing $1.5 Billion of Loans to Fund Apollo LBO
Verizon Communications Inc.’s media division is tapping the U.S. leveraged loan market to fund its $5 billion leveraged buyout by Apollo Global Management Inc. The two new loans, which have a tenor of six years, are sized at $750 million apiece, according to a person with knowledge of the matter. One portion is a so-called “high-yield style term loan […]
UDG Healthcare takeover moves closer as private equity firm makes £2.8bn bid
The US private equity firm Clayton, Dubilier & Rice has moved a step closer to its takeover of UDG Healthcare after raising its offer to £2.8bn and winning backing from big shareholders. CD&R has increased its offer to £10.80 a share as signalled last week, after its earlier bid of £10.23 a share in May […]
TA Associates launches Revalize cloud-software platform for manufacturers
TA Associates, has formed a new cloud-based platform called Revalize. With over 8,000 customers today, Revalize empowers manufacturers to elevate buying experiences, accelerate sales cycles, and streamline manufacturing through purpose-built software. The company offers a full suite of specialised, mission-critical software solutions built to simplify customer processes and reduce friction throughout the entire revenue operations […]
Israel’s ironSource trades in New York after $11 billion SPAC merger
Israeli mobile adtech firm ironSource went public on the New York Stock Exchange on Tuesday after closing its merger with a blank-check company backed by U.S. private equity firm Thoma Bravo. The public debut comes three months after the announcement of the merger with Thoma Bravo Advantage, a special purpose acquisition company (SPAC), and marks […]
Oakley agrees sale of ACE Education to Groupe Amaury
Oakley Capital’s Oakley Capital Private Equity III (Fund III) and other co-investors have reached an agreement to sell their stakes in ACE Education (ACE) (formerly AMOS), a private vocational higher education platform in France and Spain. The exit will generate a gross return on investment of c2.1x MM and c27 per cent IRR to Fund […]
Blackstone seals $6bn Home Partners deal
Private equity giant Blackstone Group has agreed to acquire Home Partners of America in a deal worth $6bn. The transaction is expected to close in the third quarter of 2021. Home Partners of America is no stranger to private equity investment, having previously received backing from KKR & Co. and BlackRock. In recent years, Home […]
Rockwell Buys Plex for $2.22 Billion in Industrial-Cloud Deal
Rockwell Automation Inc. is acquiring closely held Plex Systems for $2.22 billion in cash to boost its offering of cloud services to customers ranging from automakers to warehousing and logistics firms. The acquisition will be financed with a combination of cash and debt and is expected to close in the quarter ending in September, Rockwell said Friday in […]
Warburg Is Said to Mull Possible $4 Billion Duravant Sale
Warburg Pincus, one of the world’s largest private equity firms, is considering options including a sale that could value food processing and packaging equipment company Duravant at more than $4 billion, according to people with knowledge of the matter. The New York-based private equity firm has held preliminary talks with advisers about running an auction for Duravant […]
VW makes pricey joyride with Europcar bid
Herbert Diess is struggling to stay in his lane. While the Volkswagen boss is facing soft sales in China, Paris-listed Europcar Mobility has rejected a 2.2 billion euro offer, Bloomberg reported on Wednesday. VW was last circling around the car rental firm a year ago, before the indebted company’s hedge fund-backed restructuring. There may be […]
Kuwait’s $134 billion pension fund has record gain in turnaround
Kuwait’s Public Institution for Social Security had its best ever annual performance, emerging as a new regional investment powerhouse despite political deadlock in the country. The $134 billion pension fund, which owns a quarter of U.S. private equity firm Stone Point Capital, recorded 20.9% growth in assets in the year ended March 31, according to […]
