Abry backs Kevin Hart; a look at GTCR’s heal thcare services play in The Leaders Strategy

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Abry backs Kevin Hart; a look at GTCR’s healthcare services play in The Leaders Strategy

Good morning, Hubsters. MK Flynn here with the Wire.

Now that Twitter’s board has decided Elon Musk’s $44 billion take-private deal is too good to pass up, the controversial entrepreneur has his work cut out for him. It’s sure to be fascinating to watch what happens next.

New era in comedy. Announced this morning, actor and comedian Kevin Hart has launched a new media company with backing from Abry Partners.

The new company, called HartBeat combines his previous production companies Laugh Out Loud and HartBeat Productions. Boston PE firm Abry has invested $100 million for a 15 percent stake in the company, valued at $650 million, according to people with knowledge of the deal, reports the New York Times.

The Leaders Strategy. Chicago PE firm GTCR recently launched a new platform investment in healthcare, deploying its well-known The Leaders Strategy and teaming up with Kelly McCrann, who has over 30 years of experience in the healthcare services industry, serving most recently as CEO of EyeCare Partners.

PE Hub reporter Aaron Weitzman spoke with Sean Cunningham, managing director and co-head of healthcare at GTCR, about the new company, called Avryo Health Services.

Read the whole story here.

GTCR announced some news this morning. The firm’s portfolio company Dreamscape has made a strategic investment in Sqad, an advertising research, analytics, and media planning software company. GTCR formed Dreamscape with marketing technology veterans Scott Knoll, David Hahn and Michael Iantosca.

Going local. For private equity firms whose portfolio companies have factories in North America, the snarled global supply chain may be a blessing. Case in point: After just 18 months of ownership, Lincolnshire Management sold Schumacher Electric – which is headquartered in Dallas and has a factory in Mexico – to Ripple Industries in a deal announced last week.

Managing director Tom Callahan told PE Hub reporter Obey Martin Manayiti that Lincolnshire achieved its goals ahead of schedule.

For more, read the whole story.

Editor’s notes. This week is ACG’s InterGrowth conference for middle-market dealmakers in Las Vegas. Aaron’s covering the conference for PE Hub. If you’re there, drop him a note at aaron.w@peimedia.com.

And finally, I want to welcome aboard David Wansboro, who joins PE Hub today as assistant reporter in the UK. Previously, David served as senior investment researcher at With Intelligence. Based in Cardiff, David will be focusing on European private equity deals – so introduce yourself and send him press releases at david.wansboro@peimedia.com.

That’s all for now.

All the best until tomorrow,

MK

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Also of note (may require subscriptions)

The flourishing renewables industry in the United States has a new bud, which has seen rapid growth recently after a series of federal land auctions. (Infrastructure Investor)

Private equity adviser Triago has appointed co-head of Americas Matt Swain as its global chief executive. In the newly established role, Swain, 27, will head a team of 42 across New York, London, Paris and Dubai. (Private Equity International)

Goldman Sachs Asset Management, the primary investing area within Goldman Sachs, hired Andre Alfaro as a managing director, private equity, Buyouts has learned.