Morning Hubs!
This is Chris, on for Wire Weds. Big stuff going on today!
Coming Elliott Management is leading a deal to move specialty chemicals business Opta Group out of an older Speyside Equity fund and into a continuation pool for more time and capital to grow the business. The deal is said to be in the range of $500 million, sources said. Jefferies is working as secondaries adviser on the transaction. Tests KKR recently completed its previously announced buyout of Industrial Physics, which aims to “protect the integrity of packaging, products, and materials for manufacturers, production lines, and laboratories all over the world,” as its website puts it.
PE Hub reporter Obey Martin Manayiti spoke with Brandon Brahm, a partner at KKR, and Barry Lyon, the newly appointed CEO of Industrial Physics, about the growth opportunities for the company. Read the full interview here on PE Hub.
First deal A new manager we’ve been tracking is Coalesce Capital, formed by ex-Warburg Pincus dealmaker Stephanie Geveda. The firm has been targeting $750 million for its debut fund.
Coalesce is announcing its first deal this morning. The firm is recapitalizing Examinetics, which provides occupational health compliance testing services. Coalesce is making the investment alongside existing Examinetics shareholder Freedom 3 Capital, according to a statement. Financing for the deal is being provided by the Bank of Montreal. Read more here on PE Hub.
In memoriam Sad news out of Apollo. The firm’s co-head of impact investing, private equity, Marc Becker, has died after battling pancreatic cancer. He was 51. Becker was employee number 14 at Apollo, having joined in 1996. Read more here on PE Hub.
That’s it for me. Have a great rest of your day! Hit me up with tips n’ gossip, feedback, rumors and signs and wonders at cwitkowsky@pei.group or find me on LinkedIn. Read the full wire commentary on PE Hub ... | 