| AGIC-backed Ritedose preps sale, CD&R exits Solenis at $5.25b valuation, Ex-Lindsay Goldberg partner launches firm Happy Tuesday!
We are back with your daily rundown on private equity news and here are some deals that made headlines. Just in, CD&R is selling Solenis, a global chemical provider to water treatment industries, to Platinum Equity at a $5.25 billion enterprise value. As part of the transaction, Solenis will merge with Sigura Water, an existing Platinum Equity portfolio company acquired in 2019, for a total combined transaction value of ~$6.5 billion, according to the press release posted on PE Hub. Elsewhere, KPS yesterday announced the sale of industrial components manufacturer DexKo to Brookfield Business Partners for $3.4 billion. Under the four-year-long ownership, the Michigan-based vehicle part maker completed 15 acquisitions. Read the brief on PE Hub.
Read the full wire commentary on PE Hub...
That’s it for me! As always hit me up with your questions, feedback and gossip at karishma.v@peimedia.com
DEADLINE APPROACHING: Calling all next-gen firms and their investors! We need your participation in our fifth-annual survey of emerging managers and survey of emerging manager investors. As thanks, we'll make sure you get a complimentary copy of the "Emerging Manager Report 2021," based on these surveys (once it's published this fall). All responses are kept confidential. The survey deadline is July 16.
Also of note (may require subscriptions) Mega: Wall Street Journal reports that Clayton Dubilier & Rice has struck a deal to buy Fort Dearborn Co. and Multi-Color Corp. and merge the label manufacturers. The deal, which WSJ reported earlier Friday, values the combined company at around $6 billion including debt, according to people familiar with the matter. Read it here.
Team building: Investec has made additions to its fund solutions team as it continues to build its presence in NAV lending, secondary financing and fund hedging. According to a statement, Olivia Blundell joins from Rabobank, with experience in leverage and structured finance, and Nicola Rodrigues joins from Eight Advisory, where she advised PE clients on transactional due diligence. Read who else joined the firm on Secondaries Investor.
Threats: At a Congressional hearing in May, the chief executives of Wall Street’s six largest banks were asked to name the greatest threat to their companies and the wider financial system. The most popular answer was “cybersecurity.” The issue has grown more urgent in recent years because of an increase in nation-state cyberattacks against critical infrastructure, such as the cyberattacks by Russia that took out part of Ukraine’s electric grid and the WannaCry worm linked to North Korea that hit the hospital and shipping industries. Read more on The New York Time's Dealbook.
PE Deals 
They said it “I think everybody believes an institution can be taken out...[but] the degree of risk, I think, is really not well understood systemically.” Greg Rattray, the former director of cybersecurity at the National Security Council and a former chief information security officer for JPMorgan, speaks to NYT's Dealbook.
Today's letter was prepared by Karishma Vanjani Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. Please visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC. 
London | New York | Hong Kong PEI Media Group Ltd is registered in England no.6135779 Registered office: 7th Floor, 100 Wood Street, EC2V 7AN
To update your PE Hub email preferences, or to unsubscribe, click here. |
