The Wire

Dec. 7, 2021

Permira agrees to take-private of Mimecast at $5.8bn valuation, Astara promotes Tannenbaum to partner

Morning!

Email: Permira agreed to a take-private of email security company Mimecast at an equity valuation of about $5.8 billion. The firm will buy all outstanding ordinary shares of Mimecast at $80 per share. The transaction includes a 30-day “go shop” period expiring Jan. 6.

Promote: Astara Capital promoted Lindsey Tannenbaum to partner. Tannenbaum joined Astara from Brightstar Capital in May, according to her LinkedIn profile.

Have a great rest of the day! Hit me up with tips n’ gossip, feedback or just to share thoughts at cwitkowsky@buyoutsinsider.com or over on LinkedIn.

Read the full wire commentary on PE Hub...

Also of note (may require subscriptions)

Buyout firm "Thoma Bravo's rise from a niche investor with barely a few billion dollars in assets a decade ago has bucked most industry conventions." (Financial Times)

The FT's Helen Thomas has an op-ed arguing that the "push to get UK pensions money into private equity is flawed."

"Greycroft is raising a pair of funds, including its first-ever pool that could total $1 billion, according to people familiar with the situation." (WSJ Pro)

"MTIP, a Swiss healthtech investor, raises $250 million for its second fund [...] much larger than its debut vehicle, a $65 million 'proof of concept' pool raised in 2016." (WSJ Pro)

They said it

“I knew the world is not short of capital. But [it’s short] of good companies.”

— Michael Ranson, Astara founder, talks to PE Hub in February about the founding of the firm.

Today's letter was prepared by Chris Witkowsky

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