The Priory goes Private (Equity): UK rehab clinics sold in £1bn deal
The Priory Group, operators of the UK’s best-known rehab clinics, has been bought by private equity outfit Waterland. Acadia, the American owners of the Group, confirmed the offload before US markets opened. It will merge the two businesses and create what Waterland say will be “Europe’s leading rehabilitation and mental health services providers” The deal […]
Acadia to sell UK unit for $1.47 bln
Acadia Healthcare Company Inc said on Wednesday it would sell its UK business operations to Waterland Private Equity for about 1.08 billion pounds ($1.47 billion). The company expects the sale to result in proceeds of about $1.35 billion, it said. ($1 = 0.7357 pounds). Source: Reuters Image Source: National Real Estate Investor
How selling to yourself became private equity’s go-to deal
The pandemic has helped make a previously niche set of transactions more mainstream Private equity firms have a new set of buyers for their portfolio companies: themselves. Blackstone, EQT, BC Partners and Hellman & Friedman are among the buyout groups to have sold companies to funds that they control this year, or made plans to do so. […]
REE Automotive in negotiations for a $3-4 billion Nasdaq SPAC merger
The list of Israeli companies mulling entering Nasdaq via a SPAC continues to grow, with REE Automotive, which develops modular platforms for electric vehicles, in negotiations to go public at a valuation of between $3-4 billion, a source told Calcalist under the condition of anonymity. The negotiations have been ongoing for the past three months […]
Private equity firm Permira to buy majority stake in Boats Group
Private equity firm Permira said on Tuesday it will acquire a majority stake in online classifieds marketplace Boats Group from Apax Partners funds. The financial details of the deal were not disclosed. The deal for Boats, which mainly serves the recreational marine industry, is expected to close in the first quarter of 2021. Miami-headquartered Boats […]
Investor PAG hunts for billion-dollar private equity deals in Japan
Asia-focused fund adds two specialists to scoop up noncore ops in corporate overhauls Hong Kong-based investment firm PAG looks to build up its private equity portfolio in Japan through deals worth hundreds of millions to a few billion dollars each, as Japanese companies increasingly divest noncore operations. PAG welcomes two Japanese investment veterans in January as […]
EU ambassadors approve provisional application of Brexit trade deal
BRUSSELS (Reuters) – Ambassadors of European Union governments in Brussels approved on Monday the provisional application from Jan 1, 2021 of the EU-Britain trade deal struck last week. “EU Ambassadors have unanimously approved the provisional application of the EU-UK Trade and Cooperation Agreement as of January 1, 2021,” the spokesman for the German EU Presidency […]
Qualtrics files IPO papers, aiming for valuation of up to $14.4 billion after spinning out of SAP
Qualtrics is about to go public, for real this time. The cloud software vendor, which SAP acquired two years ago on the eve of a planned IPO, filed its paperwork with the Securities and Exchange Commission on Monday to carry on as an independent company. The initial pricing range of $20 to $24 a share would value Qualtrics […]
Private equity firm’s SPAC TZP Strategies Acquisition files for a $250 million IPO
ZP Strategies Acquisition, a blank check company formed by TZP Group targeting the tech, business, and consumer sectors, filed on Monday with the SEC to raise up to $250 million in an initial public offering. The New York, NY-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists […]
Wall Street Poised for $11 Billion in Buybacks With Fed Decision
The six biggest U.S. banks will be able to buy back as much as $11 billion of their own shares in the first quarter of next year after the Federal Reserve gave lenders the green light to resume purchases. The central bank’s show of confidence released late Friday followed a second round of 2020 stress […]
