manoj.b@eempl.com
Golub Capital, one of the biggest middle market lenders, has become the latest firm to sell a minority stake to Dyal Capital, according to officials. Financial terms of the deal, which closed Friday, Aug. 3, were not available. Dyal is buying a stake in “the high teens” from Golub, a source said. Dyal’s stake is […]
Nearly three years since its last attempt at a sale, Confie is back on the auction block, four sources said. ABRY Partners, which owns Confie, is seeking bids in the double-digit range, like 10x-12x, for the insurance broker focused mainly on Hispanic consumers, two of the sources said. Evercore is advising, people said. The auction […]
TPG Capital is exiting Eze Software after a five-year hold. SS&C Technologies Holdings Inc said July 31 that it agreed to buy Eze for $1.45 billion cash. The deal is expected to close in Q4. Eze, Boston, provides trading software, mainly for hedge funds. It employs 1,050 people. The company produced 2017 adjusted Ebitda of $105 […]
L Catterton, the consumer-focused PE firm, will make roughly 10x its money with the sale of Zarbee’s Naturals, a source said. Johnson & Johnson Consumer Inc said July 30 that it agreed to buy Zarbee’s, which makes “family-safe” health and wellness products that are free from drugs, alcohol, gluten and dyes. Terms of the transaction, […]
Arbor Investments has settled on a buyer for Rise Baking. Olympus Partners is buying Rise Baking, according to a source and a July 20 post on the FTC site. Early-termination notices appear on the FTC site after the regulator has conducted an antitrust review of a deal. How much Olympus is paying for Rise is unclear. Arbor […]
KPS Capital Partners is making 4.5x its money with the sale of Expera Specialty Solutions LLC, a source said. Ahlstrom-Munksjö Oyj said July 23 that it agreed to buy Expera in a deal valued at $615 million. The Helsinki company said adding Expera would triple its sales in the U.S. and provide a platform for […]
Focus Financial Partners is expected to go public later this month, just a year since it was sold to KKR and Stone Point Capital. Focus Financial is seen pricing its initial public offering on July 25, a source said. IPOs typically trade the following day. The New York company is expected to trade on Nasdaq […]
Genstar Capital won the Cetera Financial Group auction, outbidding Lightyear Capital, which was long considered a shoo-in to snare the financial-advisory network. Cetera said July 18 that Genstar agreed to buy a majority of its holding company, Aretec Group. The deal was valued at $1.7 billion, people said. Cetera’s leadership team will retain a stake. The announcement ended a highly publicized […]
Diversification is the word at Platinum Equity, which plans to expand into credit. First, though, Platinum expects to get rolling with its latest buyout fund. The Los Angeles shop founded by Tom Gores expects to come to market with its fifth flagship this year, said Mark Barnhill, a Platinum partner and spokesman. Platinum will target at least […]
How much value do operating partners add to portfolio companies? Not much, according to a survey of CEOs and executives. Only a fifth (20 percent) of CEOs questioned by Blue Ridge Partners expect operating partners to add “significant” value when dealing with operational challenges this year. Roughly, half of CEOs said OPs would add “some […]