| | | H.I.G. Capital strikes $580m deal for Vistria’s St. Croix Hospice, Frontenac sets out to consolidate managed IT services market, Bain Capital hits target for tech fund with nearly $1.1bn, plans to keep raising | | | | Monday, October 19, 2020 | | | | | Morning!
Frontenac acquired and merged Domain Computer Services and Tier One Technology Partners, deploying capital from its $325 million Fund XI, writes Karishma Vanjani on PE Hub this morning.
While covid-19 shook the roots of many retail and hospitality businesses, tech-enabled services have been a benefactor of this virtual environment.
“The businesses outsource IT services to [small and mid-sized business] clients with 25 to 150 employees, which is really the last thing a company is going to cut off especially during covid-19,” Joseph Rondinelli, principal at Frontenac said. Read it here on PE Hub. |
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| | | Top Scoops | | | | H.I.G. Capital won the auction for St. Croix Hospice from Vistria Group, writes Sarah Pringle on PE Hub. Vistria acquired the end-of-life care provider out of its Fund I and II, initially buying its majority stake from Clearview Capital in 2017. Read it here. |
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| | Have a great day! Reach me with your thoughts, tips, gossip, whatever at cwitkowsky@buyoutsinsider.com, on Twitter or find me on LinkedIn.
HOUSEKEEPING
Wanted: VCJ’s Rising Stars
It’s that time of the year. Over at Venture Capital Journal, editor Alastair Goldfisher and the team are looking for nominations for their second annual Rising Stars list. VCJ is seeking to identify the most talented and up-and-coming professionals in the venture capital community. Click here for more information on how you can submit your favorite Rising Star. | | |
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