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The Wire Nov. 30, 2020
Carlyle's MedRisk explores sale, New Mountain shops large GP-led deal, and the largest M&A deal of the year Note to readers: This report is being sent again as tech issues prevented some readers from receiving this morning's email.
Good afternoon!
Hope everyone soaked in the long holiday weekend, however traditional or non-traditional you managed.
January often marks a period in which many healthcare businesses kick off sale processes or bankers and management teams pre-market portfolio companies. Fireside chats are held back-to-back at the famous J.P. Morgan Global Healthcare Conference in San Francisco.
But with the Woodstock of healthcare going virtual, why wait to kick off your sale process when you can hop on Zoom at any hour of any day? Already we’re seeing some businesses that see no reason. (I assume the same goes for non-healthcare assets).
One example is Carlyle Group's MedRisk, a provider of physical rehab services for the workers’ compensation industry. The business expects to field first round bids before year-end with the aim of signing a deal early 2021, sources familiar with the process told me recently.
...Read the full Wire commentary on PE Hub.
As always, write to me at springle@buyoutsinsider.com with any tips, feedback or just to say hello.
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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) SPAC attack: Advent intends to revive a sale of Netherlands software business Unit4 NV after fielding takeover interest from a blank-check company, people familiar with the matter told Bloomberg.
Rising the ranks: The women of private equity are increasingly turning to professional networks, both internal and external, in their quest for mentorship, WSJ writes.
PE Deals
They said it
“If you’re a business, you might be a bit more wary about taking on staff again ... You might make do with overtime for a while. Households might behave more cautiously. If that’s the case, you run the risk of economic scarring further down the line.” Ben May, a global economist at Oxford Economics in London, told the New York Times, speaking to the challenges ahead as the economy works towards recovery.
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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