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The Wire March 10, 2021
Acacia-backed Red River runs sale process, L Catterton, Littlejohn-backed PatientPoint Health technologies surpasses $1b valuation Morning!
In today's auction news, IT services provider Red River, whose minority investor is Austin, Texas-based private equity firm Acacia Partners, has hit the market, sources familiar with the process told PE Hub. Read Milana Vinn’s full report for financial details and more.
New era: A merger rumored in the works since at least last fall has finally materialized. L Catterton-backed PatientPoint has joined forces with Littlejohn & Co’s Outcome Health, valuing what is now PatientPoint Health Technologies well in excess of $1 billion, according to sources with knowledge of the deal. Both companies have an interesting history. PatientPoint ran a formal sale process a couple years back...
Read the full wire commentary here...
That's it for today! As always, hit me up with any deal tips, people news or general feedback at springle@buyoutsinsider.com.
Also of note (may require subscriptions) Co-investments: Pennsylvania Public School Employees' Retirement System significantly increased its allocation to private co-investments, just months after cutting down its overall private equity target. Check it out on Buyouts.
Building the roster: Seaside Equity Partners, which in February closed an inaugural fund at $160 million, added to its bench with the hire of a former Leeds Equity Partners investment professional, a source told Buyouts. Read more here.
PE Deals
They said it
“The SPAC market has taken a real beating. If you have one or two more months of this where all of a sudden bonds look better… you’ll have a bunch of busted IPOs or mergers.”
Serial SPAC launcher Chamath Palihapitiya said on his podcast on Saturday, writes Bloomberg.
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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