Blackstone to Buy Interior Logic for $1.6 Billion in Housing Bet
Deal preempts the company’s planned IPO filed last month. Interior Logic provides design technology to homebuilders. Blackstone Group Inc. is buying Interior Logic Group Inc. for about $1.6 billion including debt, preempting the company’s initial public offering and bolstering a bet on single-family housing. Private equity funds managed by Blackstone are acquiring the interior-design technology […]
KKR closes on $4.7B Global Atlantic deal adding $90 billion of Assets Under Management
KKR completes its previously announced acquisition of Global Atlantic Financial, one of the U.S.’s largest fixed rate and fixed annuity providers, in a transaction that’s expected to add around $90B to KKR’s assets under management. KKR acquired 60% of Global Atlantic in a transaction valued at approximately $4.7B. Driven principally by three reinsurance block transactions, […]
ZQ Capital Sells Surgical Specialties For About $800 Million
China-focused private equity firm ZQ Capital sold a U.S. medical device manufacturer to buyout firm GTCR for about $800 million including debt, people familiar with the matter said. A consortium led by ZQ Capital, founded by a pair of former Barclays Plc and JPMorgan Chase & Co. bankers, and Vivo Capital, sold Surgical Specialties Corp. […]
TaylorMade Golf up for sale by private equity firm
Three-plus years after KPS Capital Partners acquired TaylorMade Golf from Adidas for $425 million, the equipment manufacturer could be on the verge of changing hands once again. According to a New York Times report, the New York City-based private equity firm has tapped Morgan Stanley to run a sale of TaylorMade. When reached for comment […]
Sequoia, GIC Invest in TPG’s Novotech at $2.3 Billion Valuation
Sequoia Capital and Singapore sovereign fund GIC are among investors that agreed to buy a stake in clinical research and testing provider Novotech from TPG, people with knowledge of the matter said. Kaiser Foundation Hospitals also plans to invest in Novotech, according to the people, who asked not to be identified because the information is […]
TSB sale remains on table after it suffers £200m loss
TSB swung into the red last year as the bank was hit by the impact of the coronavirus pandemic. The loss of £204.6 million was a sharp reversal on a £46 million profit in 2019 and came as TSB took £90.6 million in restructuring charges, while impairments rose to £164 million from £60.5 million previously. […]
L Catterton Said to Rival CVC Capital in Race for Birkenstock
LVMH-backed buyout firm weighs bid for iconic sandal maker. Takeover could be agreed in coming months, sources say. L Catterton, the buyout firm with links to the luxury French fashion house LVMH, has joined the race to buy the iconic sandal-maker Birkenstock, according to people familiar with the matter. The firm is competing with private […]
Thomson Reuters Announces Closing of Sale of Refinitiv to London Stock Exchange Group
Thomson Reuters today announced that it and private equity funds affiliated with Blackstone have closed the sale of Refinitiv to London Stock Exchange Group plc (LSEG) in an all-share transaction. Refinitiv is Thomson Reuters former Financial & Risk business, a majority interest in which was sold to Blackstone’s consortium in October 2018. Thomson Reuters and […]
Luminate Capital Partners sells AMTdirect to MRI Software
Luminate Capital Partners, a private equity firm investing in growth software companies, has sold AMTdirect, a provider of lease accounting, lease administration, and facilities management software, to MRI Software. Jeff Ralyea, Chief Executive Officer of AMTdirect, says: “Over the last few years, the Luminate team has partnered with AMTdirect to deliver cloud-based solutions to leading […]
Japan’s Showa Denko to sell aluminium business to Apollo
Japan’s Showa Denko KK said on Thursday it would sell its aluminium business to U.S. investment fund Apollo Global Management as the materials maker steps up efforts to divest assets. Specifically, Showa Denko said it plans to sell its aluminium rolling business for electronic components as well as the aluminium can business. The company did […]
