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| | | Qualcomm, NXP strike $38B deal |
| | Qualcomm (NASDAQ: QCOM) has agreed to acquire NXP Semiconductors (NASDAQ: NXPI) for $110 per share, representing an enterprise value of $47 billion and an equity value of about $38 billion.
The semiconductor hook-up creates a company to rival Intel and Samsung, as the chipmaking business pivots to... |
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| | | | | | | | | Becoming a ‘ChAMP’: How the US Navy’s methods guarantee companies can turn strategy into results |
| | PitchBook Dealmakers Column
By Harry Gray and Greg Calaman, graduates of the US Naval Academy and Senior Partners at The Lucas Group
As Naval Officers, we were trained to guarantee results are delivered on time, without fail, in mission-critical situations. This included everything from nighttime beach landings involving hundreds of vessels to the construction and operation of warships designed to carry thousands of crewmen. Despite the high-stakes stress of these situations, our Navy functions with a crispness unparalleled anywhere else in the world.
On the other hand, as consultants to private equity groups, we have seen operating companies fall flat in situations where leadership has the perfect strategy and the right people, but lacks a process to help them succeed.
So, how can organizations improve? Our numerous decades of working on growth strategy and performance improvement projects, and especially our leadership of complex operations in the military, led to the development of a new management consulting paradigm called ChAMP—the Change Acceleration and Management Program.
Click here to find out how ChAMP enables us to execute strategy.
This article represents the views of the author only and does not necessarily represent the views of PitchBook. |
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| | | | | | | | | | | Did a decades-long financial crisis help lead to the end of gladiator fights in ancient Rome? [Vocativ]
How diamonds could be the future of data storage. [The New York Times]
As his time in office winds down, Barack Obama is taking on the non-compete. [Reuters]
Professional athletes are notorious for spending millions of dollars at a breakneck pace. Detroit Lions defensive back Glover Quin is making sure his story is different. [ESPN] |
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| Since yesterday, the PitchBook Platform added: | | 275 Deals | 1239 People | 543 Companies | 5 Funds |
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| | | 2009 Vintage US Venture Funds with Healthcare Investments |
| | | Median IRR | | | | Top Quartile IRR Hurdle Rate | | | | 0.55x Median DPI | 1.78x Median TVPI |
| | | | *IRR: net of fees | | 55 Funds in Benchmark » |
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| Deals in Play & Announcements |
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| | | Oaktree to buy Trench Plate Rental in SBO |
| | | Commercial Services | Downey, CA | Secondary Buyout |
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| | | ATL, bcIMC pick up Pilot Freight Services |
| | | Logistics | Lima, PA | Buyout |
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| | | PE-backed ConvaTec raises £1.5B in London IPO |
| | | Medical Supplies | Greensboro, NC | IPO |
| ConvaTec (LON: CTEC) has raised nearly £1.5 billion in London's largest IPO of 2016, despite the medical products maker pricing its offering at 225 pence per share, at the bottom of its announced range. The company closed trading Thursday at 229p per share. Avista Capital Partners and Nordic Capital have both backed ConvaTec since 2008. |
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| | | | | | | | | | | | Financial Software | London, UK | IPO |
| Misys has scrapped its planned return to the public markets in the face of a soft European IPO environment. The news comes after the provider of banking software already cut about £1 billion from its proposed float three weeks ago, at which point CEO Nadeem Syed was expressing optimism about the company's prospects post-Brexit. Vista Equity Partners, which had hoped to raise up to £750 million with the IPO, has owned the company since completing a £1.25 billion take-private buyout in 2012. |
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| | | | | | | | | KKR loses Dutch head of client relationships |
| | | Jurcell Virginia has left KKR after more than four years with the firm, according to a Financial News report. He will be replaced as the head of client relationships for the Netherlands by James Marsh, who will relocate from New York to London as part of the move. Marsh has been with KKR since 2012. |
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| | | ZTO conducts year’s biggest US IPO, drops in trading debut |
| | | Logistics | Shanghai, China | IPO |
| ZTO Express (NYSE: ZTO), an ecommerce logistics business that ships packages for industry titans Alibaba and JD.com, has raised $1.4 billion in what’s believed to be the largest IPO on a US exchange so far this year. The company’s pre-IPO backers include Warburg Pincus and Sequoia. ZTO priced the offering at $19.50 per share, but the company’s stock opened at $18.40 and slipped to $16.57 by the end of Thursday in a lackluster first day. |
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| | | | | | | | | GTCR earns reported $2B on CAMP exit |
| | | Application Software | Merrimack, NH | Acquisition |
| GTCR has agreed to sell CAMP Systems International, the provider of a SaaS platform for managing and tracking aviation maintenance, to Hearst for a reported $2 billion. CAMP operates 12 offices around the world and claims its software serves more than 19,000 aircraft and 1,300 maintenance facilities. GTCR acquired the business from Warburg Pincus in 2012, reportedly for somewhere between $600 million and $700 million. |
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| | | | | | | | | Golden Gate completes medical supply exit |
| | | Medical Supplies | Hudson, WI | Corporate Acquisition |
| Golden Gate Capital has finalized the sale of Phillips-Medisize, an outsource provider of medical devices, pharmaceutical packaging and diagnostic products, to Molex (NASDAQ: MOLX). Golden Gate acquired Phillips-Medisize in an SBO during 2014. |
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| | | Gridiron Capital laces up $850M fund |
| | | Gridiron Capital has closed its third flagship buyout fund on $850 million, raising more for the new vehicle than its two predecessors combined. The firm invests mainly in the North American middle market with a focus on the manufacturing, services and consumer sectors. |
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| | | Blackstone yields bumper crop in 3Q |
| | | Like fellow industry juggernaut KKR earlier in the week, Blackstone has reported better-than-expected earnings for 3Q. With performance improving across all asset classes, the firm posted after-tax economic net income of $687 million for the quarter, a more than $1 billion turnaround from 3Q 2015. That equates to ENI of 57 cents per share, compared to analyst expectations of 48 cents. Blackstone’s private equity portfolio increased in carrying value by 3% during 3Q, while private equity AUM has increased 9% YoY to $99.7 billion. |
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