The Wire

Feb. 9, 2021

Bain Capital, Cinven carve-out Swiss-based Lonza unit, BC Partners' Appgate unveils $1bn merger, Wells Fargo bets on telepsychiatry 

 

Happy Tuesday!

 

In today's news, Appgate, a cybersecurity company backed by BC Partners and Medina Capital, said it will enter the public markets by merging with Newton Lane Marketing, a shell company led by the prior owner of Washington Capitals. The deal values the combined company at $1 billion. In another big check, Bain Capital and Cinven will spend $4.7 billion, including debt, to buy the specialty ingredients unit of Lonza Group, a Swiss chemicals business providing ingredients for disinfectants and personal care products.

 

Lastly, Wells Fargo Strategic Capital is leading a $24 million growth equity investment in Array Behavioral Care, betting on the long-term growth and adoption of telepsychiatry everywhere from the hospital setting to home. It was through WFSC Managing Director Rodney Altman's first-hand experience as a physician that... 

 

Read the full wire commentary on PE Hub.

 

That’s it for today. Have a great week ahead, and as always, hit me up with feedback, gossip and tips or whatever you have to say at karishma.v@peimedia.com or find me on LinkedIn.

 

Note to Readers: It's that time of year ... for the 21st time, the editors of PE Hub and Buyouts honor exceptional buyouts with our Deal of the Year Awards.

Winners are chosen in seven categories: Deal of the Year, Large-Market Deal of the Year, Middle-Market Deal of the Year, Small-Market Deal of the Year, Turnaround of the Year, International Deal of the Year, and Secondaries Deal of the Year.

Go here for more information and to read about rules and methodology. Also check out past winners. Last year, New Mountain took the crown with its exit of Equian.

If you have additional questions, email Private Equity Editor Chris Witkowsky at cwitkowsky@buyoutsinsider.com.

 

 

Also of note (may require subscriptions)

Secondaries news: Ardian has emerged as lead investor on New Mountain’s massive continuation fund deal, sources told Buyouts. New Mountain’s GP-led deal is one of the high-profile secondaries deals to hit the market post-lockdown.