Providence Equity Partners has entered exclusive talks to buy French automotive data firm A2Mac1 for about $1.3bn, clinching one of Europe’s rare private equity buyouts in a tough financing market, two sources told Reuters.
Providence signed an exclusive agreement with A2Mac1’s owner Five Arrows Principal Investments last night, trumping rival bids from buyout funds EQT and TA Associates, the sources said.
The Rhode Island-based buyout firm focuses on media, communications, education and technology investments across North America and Europe and manages funds with $32 billion in aggregate capital commitments.
Read more: Reuters
