| |
| |
| What's in store for PE in 2017? Share your thoughts for a chance at $300 |
| Last December, we released our first-ever Crystal Ball Report, drawing on your input as to what this year might hold for private equity dealmakers. Now, as 2016 draws to a close, we ask for your insight again.
In exchange for 10 minutes of your time taking our 2017 PE Crystal Ball Survey, you can enter your email for a shot at winning a $300 Amazon gift card. |
|
| All responses shall be aggregated anonymously and used solely for the production of the report. If you have any questions, reach out at reports@pitchbook.com. To access last year's Crystal Ball Report, click here. |
|
| | | | | | | Blackstone to take €1B puff off Solvay's cigarette filters business |
| Blackstone has agreed to a €1 billion sticker price for Acetow, the unit of Belgian chemicals group Solvay (BRU: SOLB) that makes material used in cigarette filters. That figure, inclusive of debt, represents a 7x EBITDA multiple, resulting in an estimated capital gain of €150 million for Solvay.
Blackstone's move comes even as Acetow's revenue dropped 16% in the last year to €542 million, according to Reuters, with over 90% of its revenue sourcing to cigarette filters. The deal is expected to close during 1H 2017. Solvay's stock closed up 2% for the trading day on the news at €110.55 per share.
Read about more of Blackstone's dealings here. |
|
| | | | | | | Our greatest hits: Sports |
| A recurring theme we've noticed throughout 2016 is the crossover between the worlds of sports and the private markets. Just in the past week or so, current and former players from Major League Baseball and the National Football League have announced new ventures that will pursue sports-related investments.
Those stories head the list below of our most popular articles involving sports: Click here to access all of our sports-related content. |
|
| | | | | | | | A “Shark Tank”-style exercise provides insight into deal structure and the state of the current M&A market. [BizTimes]
Go inside the secret meeting where Apple opened up about its AI research. [Quartz]
Why the private equity industry is embracing the quick flip. [Forbes]
Walking the fine line between automation and job elimination. [Vox] |
|
| | | |
|
|
| |
| Since yesterday, the PitchBook Platform added: | | 198 Deals | 1202 People | 411 Companies | 3 Funds |
| | |
|
|
| |
| |
| |
| |
| |
| |
| |
| |
| 2009 Vintage US Venture Funds with B2C Investments |
| | Median IRR | | | | Top Quartile IRR Hurdle Rate | | | | 0.25x Median DPI | 1.65x Median TVPI |
| | | | *IRR: net of fees | | 56 Funds in Benchmark » |
| | | |
|
|
| |
| Deals in Play & Announcements |
|
| Vista to acquire SunGard unit for $850M |
| | Vista Equity Partners has agreed to buy the SunGard Public Sector and Education unit of FIS (NYSE: FIS) for $850 million. With the transaction, the SunGard Public Sector will operate independently while SunGard Education joins Vista-backed Powerschool. Both companies provide software that helps school districts and municipalities meet administrative and public safety needs. |
|
| | | |
|
|
| |
| SBJ backs Troy Lee Designs |
| | Clothing | Corona, CA | PE Growth |
| Spanos Barber Jesse & Co. has invested in Troy Lee Designs, a provider of motorcycle and mountain biking gear and apparel. As part of the deal, TLD founder and former motocross racer Troy Lee will retain a significant ownership stake and continue to lead the company’s design team. In addition, TLD has brought on former Cycle Gear CEO and chairman Dave Bertram as CEO. |
|
| | | |
|
|
| |
| |
| KKR to buy Calvin Capital from Infracapital |
| | Commercial Services | Manchester, UK | Secondary Buyout |
| KKR has agreed to acquire Calvin Capital from Infracapital, the infrastructure investment division of M&G Investments. Founded in 2002, Calvin Capital finances the provision and installation of gas and electricity meters for energy companies in the UK. The deal is expected to close by the end of January. |
|
| | | | | | | PE-backed Harvest Hill to buy Nutrament from Nestle |
| | Beverages | Vevey, Switzerland | Corporate Divestiture |
| Harvest Hill Beverage, a Brynwood Partners portfolio company formed in 2014 to acquire Juicy Juice, has agreed to pick up another Nestlé (VTX: NESN) brand, the energy drink Nutrament. The deal is expected to close by the end of this year. Nestlé closed the trading day down 0.37% at CHF68.15 ($67.69) per share. |
|
| | | | | | | Cerberus to spend €50M on Staples' European business |
| | General Merchandise Stores | Amsterdam, Netherlands | Corporate Divestiture |
| Cerberus Capital Management has agreed to acquire the European business of office supplies retailer Staples (NASDAQ: SPLS). The deal is worth €50 million, according to Reuters, and is expected to close in 1Q 2017. Staples' European unit comprises retail, contract and online operations in 16 countries with annual sales of roughly €1.7 billion. The sale follows Office Depot's (NASDAQ: ODP) decision to exit its European business to AURELIUS at the end of September in response to antitrust issues that emerged in May over its proposed merger with Staples. |
|
| | | |
|
|
| |
| Altus, CVC to sell Rocla Concrete Tie to Vossloh for $117M |
| | Rail | Lakewood, CO | Acquisition |
| Altus Capital Partners and CVC Capital Partners have agreed to sell Rocla Concrete Tie for $117 million to Vossloh, a rail infrastructure company based in Germany. RCT produces concrete sleepers, low-vibration track blocks and level crossing panels at plants in the US and Mexico. It reported sales of $88.2 million for the year ending June 30. |
|
| | | | | | | Weston Presidio makes two exits |
| | | | | |
|
|
| |
| Z Capital eyes $1.3B for next fund |
| | Z Capital Partners is seeking as much as $1.25 billion for its latest fund, Z Capital Partners III, according to The Wall Street Journal. The firm, which raised $750 million for its most recent buyout vehicle in 2014, is expected to close fundraising by 2Q 2017. |
|
| | | | | | | KKR's tech fund totals $711M |
| | KKR has closed its Next Generation Technology Growth Fund on $711 million in capital commitments, including parallel vehicles and contributions from the firm’s affiliates. The fund is something of a first for the firm, as it will make investments of between $25 million and $80 million in tech, media and telecom companies based in North America, Europe and Israel at far earlier stages of development than is typical of the buyout behemoth. |
|
| | | |
|
|
| |
| Fazle Husain joins CVC as head of US healthcare |
| | | | | |
|
|
| |
| |
.jpg)
