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The Wire April 15, 2021
Abry's SambaSafety readies sale, Hellman & Friedman, Carlyle-backed PPD bought by Thermo Fisher for $17.4b
Morning, hubsters!
In today’s headlines, we've got Thermo Fisher's $17.4 billion acquisition of PPD, with the publicly-traded pharma services giant continuing to prove a winning investment for its largest shareholders, Hellman & Friedman and Carlyle Group. With today's deal, PPD's equity value is up 11x since 2011, when the pair of firms first invested, a source told PE Hub. Stay tuned for more on the deal!
And - shocker - another PE-backed tech company is headed to the auction block. Abry Partners is preparing for a sale of SambaSafety, a provider of driver risk management and insurance software, sources familiar with the situation told PE Hub. Houlihan Lokey is engaged for sell-side advice, although the process has yet...
Read the full wire commentary on PE Hub...
Have a great rest of the week ahead, and as always, hit me up with your questions, comments or tips at springle@buyoutsinsider.com.
Also of note (may require subscriptions) Specialist: Crosspoint, a first-time firm that just closed its debut pool on $1.3 billion, plans to build out a concentrated portfolio that will give it time and space to work operational changes to its portfolio companies that require that kind elbow grease. Read more here.
Strong performance: Investment Management Corp of Ontario, recently formed to help public sector funds scale and tap into private markets, generated a one-year net return of 34.2 percent from its PE investments last year, according to an annual report. IMCO was launched in 2016 to pool and invest Ontario public sector fund assets, taking as a model systems like Caisse de dépôt et placement du Québec, Buyouts writes. Check it out here.
Mega: Thermo Fisher Scientific is nearing a deal to buy pharmaceutical-testing company PPD Inc. for more than $15 billion, Wall Street Journal reports. Read it here.
PE Deals
They said it “If you’re a new fund, you need a reason to exist. There’s enough capital in the world … what you need is an idea and experience … to show how you’re different to get LPs excited.” ugh MacArthur, head of global private equity at Bain & Co., told Buyouts in a recent interview.
Today's letter was prepared by Sarah Pringle Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MOREPlease visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC.
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