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Bain Capital is one of several private equity firms set to bid for software and IT managed services platform provider ConnectWise, according to a report by CRN.
ConnectWise, which has more than 3,000 employees globally, was bought by private equity firm Thoma Bravo is 2019 in a deal estimated at around $1.5 billion. Six of ConnectWise’s eight board members are from Thoma Bravo.
Bain is now one of the strongest candidates lining up a potential bid for the Tampa, Florida-based company, according to multiple sources familiar with the matter.
“Bain has been very aggressive,” said one unnamed source, who valued
Private equity giant Thoma Bravo’s plan to buy software company Qualtrics and merge it with rival company Medallia was thwarted by antitrust concerns, according to a report by the Financial Times.
Qualtrics was ultimately sold to private equity firm Silver Lake and the Canada Pension Plan Investment Board in a deal announced last month for $12.5 billion, or $18.15 per share.
Thoma Bravo had tabled a potentially higher-price transaction, but the deal was scuppered due to concerns about a possible lengthy review from US antitrust regulators.
Media reports suggest the private equity firm has also seen delays in its planned
Private equity firm Lee Equity Partners and investment firm Twin Point Capital have partnered with GetWireless to acquire TESSCO Technologies, a wireless infrastructure technology distributor, manufacturer, and solutions provider serving commercial companies, in a cash merger deal valued at around $161.4 million.
Under the terms of the merger agreement between GetWireless, a value-added distributor of cellular solutions that connect the Internet of Things (IoT), and TESSCO, all outstanding shares will be acquired for $9.00 in cash, resulting in an enterprise value of approximately $161.4 million.
Last year, Lee Equity and Twin Point Capital, owners of Canadian wireless telecom distributor Alliance,
Pan-European private capital manager Metric Capital Partners has partnered with growth investor Scope to invest in high-end Danish toy brand Maileg.
The deal – whose value is undisclosed – is Metric Capital’s third investment in the Nordics since 2013. The most recently published financials for Maileg last year were €35 million in revenues, and €12 million in EBITDA.
Established in 1999, and headquartered in Herning, Denmark, Maileg designs artisanal, hygge toys, reminiscent of older times. Its toy range includes mice in matchbox beds and small dollhouses. The investment in Maileg will help grow the business in the UK and internationally,
Global alternatives manager ICG, which manages $74.5 billion of assets across private equity, private debt, real assets, and credit, has hired Ryan Croteau as managing director, consultant relations, in its New York office.
Croteau joins ICG from Sun Life Capital Management, where he served as head of consultant relations, leading the design and implementation of the firm’s Consultant Relations Programme across the US and Canada.
Before joining SLC Management in 2017, Croteau spent more than a decade at Standish Mellon Asset Management, most latterly as Senior Consultant Relations Manager.
In his new role at ICG, he will work as part
Blackstone has closed its latest global real estate fund, Blackstone Real Estate Partners X, with $30.4 billion of capital commitments — the largest real estate or private equity drawdown fund ever raised.
The private equity giant’s three opportunistic real estate strategies – Global, Asia, Europe – now have $50 billion of capital commitments.
Blackstone – the world’s largest alternative investment firm with $951 billion AUM – has delivered a 16% net IRR on over $100 billion of committed capital in the BREP global funds over more than 30 years.
As macro trends evolve, Blackstone Real Estate shifted its portfolio away
Public-to-private transactions and carve-out deals within the private equity healthcare space tripled last year amid an increasingly challenging market landscape, according to a report by Institutional Investor.
Citing a new study by Bain & Company, it noted inflation and uncertainty are now pushing PE firms to do all-equity and club deals and other creative strategies within healthcare.
Public-to-private deals and carve-outs grew from 12% of all private equity healthcare deals in 2021 to almost half – 46% – last year. In contrast, PE firms buying private companies directly shrank from about 50 percent of all deals in 2021 to less
ESG considerations have a key role to play in private equity investment practice, with 52% of LP fund investors believing GP compensation should be directly linked to ESG goals, a new industry sentiment survey shows.
The report, ‘The Cost of Playing the Game: The Brackendale Private Equity LP Sentiment Survey H1 2023 in Partnership with IQ-EQ’ found that decarbonisation is the most popular target listed by LPs, who underline the importance of having tangible key performance indicators relating to specific strategies and portfolio companies.
The Brackendale report canvased opinion on private equity compensation levels from leading insurance firms, pension companies,
Global investment bank Houlihan Lokey has hired David Kelnar as a managing director in its Capital Markets Group to spearhead its equity private placement capability in Europe. He is based in the firm’s London office.
Based in London, Kelnar will focus on providing equity solutions, including growth capital and structured equity, for the firm’s corporate and financial-sponsor-backed clients in the region, working closely with the US Equity Private Placements team, led by Sean Fitzgerald in New York.
Kelnar joins from Numis, where he spent three years as a Managing Director and Head of Growth Capital Solutions. Prior to this, Mr. Kelnar
Internet and computer software companies drew the largest share of private equity capital into India in Q1– but its share fell from 75% to 58% year-on-year as overall PE investments slumped, according to data published by Refinitiv.
Private equity inflows plunged 75.4% to $2.2 billion in the first quarter, making it the sixth consecutive quarter of decline, amid global macroeconomic and geopolitical headwinds
The $2.2 billion of inflows represents the lowest private equity investment in India since 2018, when it stood at $1.7 billion. On a sequential basis, the Q1 decline was 31.9% year-on-year when it was $3.2 billion, and
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