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Private Equity News
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Shenandoah Switches Sponsors
- Shenandoah Industrial Solutions, a provider of infrastructure services, has been sold by KLH Capital to GenNx360 Capital.
- Shenandoah specializes in inspecting, cleaning, and rehabilitating stormwater and sanitary infrastructure through trenchless methods.
- KLH's involvement with Shenandoah began with a management-led buyout in February 2019 and saw significant growth during their ownership.
- GenNx360, an investor in North American-based companies, will support Shenandoah's growth strategy in the underground infrastructure services sector.
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Heartwood Exits UW Solutions
- Heartwood Partners is selling UW Solutions to Apogee Enterprises in a $240 million deal.
- UW Solutions specializes in surface-coated products for graphics and industrial flooring.
- Heartwood helped UW Solutions grow by investing in infrastructure and expanding manufacturing capabilities.
- The acquisition is expected to contribute $100 million in revenue with an adjusted EBITDA margin of 20% in 2026.
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Peprofessional
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One Whale of a Deal: Bessemer Buys W Services Group
- Bessemer Investors has acquired W Services Group, a provider of multi-site maintenance services.
- W Services Group specializes in vendor-managed facility maintenance services across North America, catering to multi-site clients in various sectors.
- W Services' senior management team, including CEO Matthew Whelan, will continue to lead the company in partnership with Bessemer.
- Bessemer Investors, a New York-based firm, makes equity investments in businesses operating in various industries, including business services, healthcare, and consumer goods.
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Peprofessional
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Kian Promotes Three
- Kian Capital Partners promotes Carter Fields to vice president and Thomas Bullock and Doyle Silvia to senior associates.
- Carter Fields joined Kian in 2019 and will lead diligence efforts as vice president.
- Thomas Bullock and Doyle Silvia joined Kian in 2022 and will take on more responsibility in transaction evaluation and partnering with management teams.
- Kian focuses on investments in companies with revenues of $10 million to $100 million, primarily in consumer, services, specialty manufacturing, and value-added distribution sectors.
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TechCrunch
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Image Credit: TechCrunch
The 13 biggest take-private PE acquisitions so far this year in tech
- Private equity firms have been increasingly active in the tech sector, providing alternative sources of liquidity, and take-private deals have been on the upswing in the past two years.
- 46 take-private deals belonging to the tech sector have closed so far in 2024.
- This article provides details on take-private acquisitions of product-centric companies valued at $1 billion or more in 2024.
- The list includes companies like Adevinta, Smartsheet, Squarespace, Nuvei, PowerSchool, Darktrace, and others.
- A majority of the companies on the list have been in the public markets and have shown strong growth prospects.
- Adevinta was acquired in a $13 billion deal by a consortium led by Permira and Blackstone.
- Vista Equity Partners and Blackstone acquired Smartsheet for $8.4 billion, after the company began trading publicly.
- Permira announced plans to acquire website builder Squarespace in May of this year in an all-cash deal valued at $6.9 billion.
- Canadian fintech Nuvei agreed to be taken private by Advent International in a deal worth $6.3 billion.
- Thoma Bravo led a consortium to acquire U.K. cybersecurity giant Darktrace in a $5.3 billion deal.
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Funded
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Augmodo Funded $5.3M for Wearable Tech in Real-Time Inventory Tracking
- Augmodo, a Seattle-based company, has raised $5.3 million in funding for its real-time inventory tracking platform that utilizes wearable technology.
- The funding round was led by Lerer Hippeau and included participation from Dunnhumby Ventures and other strategic angel investors.
- The funds will be used to enhance and scale Augmodo's platform, which offers real-time inventory and task-tracking, providing businesses with improved efficiency and data insights.
- Augmodo's unique integration of wearable technology with advanced software systems sets it apart from traditional inventory management systems.
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Funded
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Why is Quality Content Important for Your Business Growth?
- Creating high-quality content has become crucial in order to keep business flourishing and to avoid the risks that can damage brand image.
- High quality content is a foundation that promotes and endorses a business online.
- Educational content plays an important role in educating audience about services and offerings.
- High-quality content fuels SEO and helps attract potential customers.
- Social media is one of the easiest ways to connect with potential customers and can be fueled by high-quality content that enables companies to retain the target audience.
- Entrepreneurs can't deny the significance of digital marketing strategies as well as high quality content when it comes to business growth.
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Pymnts
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Report: JPMorgan Chase Says Private-Equity Backed IPO Market Is Favorable
- The IPO market for companies backed by private equity firms is heating up, according to JPMorgan Chase.
- Firms seek to lower their debt loads or provide existing investors an opportunity to cash in.
- Four US listings, including StandardAero, are set to go public this month.
- Despite outpacing last year's figures, annual IPO proceeds are expected to be 20% to 25% below normal.
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Pymnts
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3 Things to Know as Private Credit Heads Toward a $2 Trillion Industry
- The private credit market is booming, estimated to top $2 trillion at present.
- Marquee names in finance, such as JPMorgan Chase and Citigroup, are forming alliances and investing billions of dollars in private credit.
- Banks are seeking new customers through private credit as competition from nonbank entities and FinTechs intensifies.
- Regulators are monitoring the risks associated with the growing private credit market.
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Peprofessional
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Balmoral Makes Big Move in Nano-Automation
- Balmoral Funds has acquired the engineer-to-order business of DWFritz Automation from Sandvik AB.
- DWFritz specializes in customized nano-automation systems and precision metrology equipment.
- The acquisition excludes DWFritz's ZeroTouch metrology platform.
- Balmoral Funds aims to drive growth and innovation at DWFritz through technology upgrades and strategic support.
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Peprofessional
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Gallant Closes $406 Million Second Fund
- Gallant Capital Partners has closed Gallant Capital Partners Fund II LP with $406 million of capital.
- The fund's limited partners include existing investors and a new group of global institutional investors.
- Gallant Capital makes control investments in technology, industrial, and business services companies.
- Since its founding, Gallant has completed over 30 transactions and Fund II has closed on two platform investments and five add-on acquisitions.
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Guardian
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Image Credit: Guardian
Private equity firms ploughing billions into fossil fuels, analysis reveals
- Private equity firms have invested over $1tn in the energy sector since 2010.
- These firms often fund fossil fuel projects outside the public eye, resulting in significant greenhouse gas emissions.
- The investments are made using public sector workers' retirement savings.
- The lack of transparency and potential climate impacts pose risks to pension fund beneficiaries.
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TechCrunch
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Airship wants to build better sales tools for HVAC contractors
- Airship is building a point-of-sale software for HVAC contractors to provide them with knowledge on incentive programs, rebates, and increase their sales.
- The software aims to be intuitive and easy to adopt for HVAC contractors who may still rely on manual methods of conducting business.
- Airship plans to target private equity-backed HVAC rollups by offering an enterprise-grade solution.
- The company has raised $4 million in pre-seed funding and announced a partnership with service software unicorn ServiceTitan.
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Peprofessional
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ATIS not OTIS. Thompson Street Acquires Elevator Platform
- Thompson Street Capital Partners has invested in ATIS, a provider of elevator and escalator safety inspections, consulting, and managed services.
- ATIS offers government-mandated inspections, condition assessments, design consulting, and elevator asset management services.
- ATIS also provides specialized services like real estate due diligence assessments and hydraulic oil testing.
- Thompson Street Capital Partners plans to support ATIS with investments in sales and marketing, new service offerings, and strategic acquisitions.
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LP First Launches Power Utility Services Platform
- LP First Capital has acquired REI Utility Services, a provider of joint-use management services to electric distribution co-operatives.
- REI's services include joint-use management, pre-attachment contract management, field analysis, permitting, make-ready engineering, post-attachment pole audits, inspections, and ongoing regulatory support.
- REI serves electric co-operatives in multiple states and aims to become a leading power utility services provider.
- LP First Capital, a private equity firm, partnered with REI to build a power utility services platform, focusing on culture-first founders and management teams.
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