| |
| |
| US PE firms dial back pace of investing in Canada |
|  | | click to read our analysis |
|
|
In 2015, no fewer than 159 private equity firms with headquarters in the US cut a deal with a Canadian company, a clear high for the decade. That pace has slowed considerably in 2016 alongside a larger decline in Canadian PE activity, with 105 US firms active within the country through the end of October.
The drivers of the decline are... |
|
| | | | | | | Apollo-backed Athene raises $1.1B in IPO |
| | A slow year for IPOs has received a December boost, as Athene (NYSE: ATH), a retirement services provider backed by Apollo Global Management, sold 27 million shares for $40 each ahead of its public market debut Friday. The offering raised about $1.1 billion and reportedly valued the company at... |
|
| | | | | | | | Sometimes, you’ve got to make a big bet to get in the game. Ben Hunt on why investors should act strongly on their beliefs. [Epsilon Theory]
The Chinese government is taking on clickbait. [Medium]
Google makes so much money, the company never had to worry about financial discipline—until now. [Bloomberg]
Private equity’s next destination? South African rugby. [Channel NewsAsia] |
|
| | | |
|
|
| |
| Since yesterday, the PitchBook Platform added: | | 98 Deals | 577 People | 215 Companies | 1 Funds |
| | |
|
|
| |
| |
| |
| |
| |
| |
| 2007 Vintage US Venture Funds with Energy Investments |
| | Median IRR | | | | Top Quartile IRR Hurdle Rate | | | | 0.63x Median DPI | 1.53x Median TVPI |
| | | | *IRR: net of fees | | 49 Funds in Benchmark » |
| | | |
|
|
| |
| |
| Incline seals rubber deal |
| | Commercial Products | St. Louis, MO | Buyout |
| | | |
|
|
| |
| |
| Stone Canyon nearing $2B packaging add-on from CD&R |
| | Plastic Containers & Packaging | Brühl, Germany | Secondary Buyout |
| Stone Canyon Industries has entered exclusive talks to acquire packaging business Mauser through portfolio company BWAY for more than $2 billion, the Wall Street Journal reports. Clayton Dubilier & Rice has backed Mauser, a maker of steel drums, plastic bottles and other large containers, since 2015. Stone Canyon has backed BWAY, meanwhile, since acquiring the industrial packaging supplier from Platinum Equity for $2.4 billion in August. |
|
| | | | | | | KKR eyes German market researcher |
| | KKR has agreed to launch a voluntary public tender offer of €43.50 per share to purchase a minority stake in GfK (FRA: GFK), a German provider of market and consumer information and analytics to corporate clients. That figure represents a 44% premium to the company’s average share price for the three months prior to the announcement. The deal is conditional on holders of at least 18.5% of GfK shares accepting the offer, meaning a minimum investment of €293 million from KKR. |
|
| | | | | | | | | Building Products | Lokeren, Belgium | Secondary Buyout |
| | | | | | | EQT, Summit exchange IVC ownership |
| | Healthcare Services | Bath, UK | Secondary Buyout |
| EQT has agreed to use its sixth flagship buyout fund to acquire Independent Vetcare, a provider of veterinary services operating 290 sites in the UK and an online pharmacy. Summit Partners has backed the business since 2014. The sale is expected to close early next year. |
|
| | | | | | | PE-backed Jeyes to sell three companies to Henkel |
| | Household Products | Cambridge, UK |
| Jeyes Group, a Strategic Value Partners portfolio company, has agreed to sell three of its home care brands—Jeyes, Bloo and Parozone—to Henkel. Founded in 1877, Jeyes manufactures and distributes home and garden cleaning products. SVP has owned a majority stake in Jeyes since 2011. |
|
| | | | | | | BVCA taps Pantheon's Helen Steers for chair |
| | | | | |
|
|
| |
| PE-backed Ichor prices IPO below range |
| | Fiberoptic Equipment | Fremont, CA | IPO |
| Ichor (NASDAQ: ICHR), a portfolio company of Francisco Partners, has priced its initial public offering of 5.9 million shares at $9 apiece, well below the range of $12 to $14 initially announced by the designer and maker of fluid delivery subsystems for the semiconductor market. The company’s stock experienced a minor bump in its first day of trading, though, finishing Friday up 8.5% at $9.77 per share. |
|
| | | |
|
|
| |
| Apollo brings on Gary Parr |
| | | | | |
|
|
| |
| |
.jpg)
