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Swedish private equity firm EQT is in talks with Dechra Pharmaceuticals over a possible £4.6 billion cash bid, in a deal backed by the Abu Dhabi Investment Authority, according to a report by The Times. A takeover of Dechra, the FTSE 250 veterinary drugs company, would cap a rollercoaster period for the group, which was briefly promoted to the FTSE 100 after its shares soared on a pandemic-driven pets boom but which have halved since a peak two years ago.
Dechra is led by Ian Page, who has been chief executive since soon after the Cheshire-based company was listed in 2000.
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Now is the time for private equity managers to invest in new systems. Managers can take advantage of the slower pace of transaction to set a software transition in motion. Ryan Keough, chief revenue officer at Allvue Systems, outlines the benefits of such a shift.
Can you outline the industry trends which have been driving growth and development within your firm over the past year?
Advancing private equity regulation has been contributing to the growth of our firm in the last few years. When more regulation is in place, access to data becomes more important than ever,
Clearlake Capital Group and Symphony Technology Group have agreed to sell risk management cloud software provider Archer Technologies to Cinven.
The deal is expected to close in the middle of 2023 subject to customary closing conditions and regulatory approvals. The terms of the transaction were not disclosed.
Founded in 2000 and headquartered in Overland Park, Kansas, Archer is a leading provider of integrated risk management cloud software solutions with products that encompass compliance, governance, security, audit and ESG.
STG acquired Archer in 2020 as a part of its purchase of RSA Security from Dell Technologies, and subsequently partnered with Clearlake in
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
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