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The Wire

Nov. 22, 2021

RiverGlade exits controlling stake in U.S. Oral Surgery to Oak Hill, CCMP eyes secondary on BGIS, Truck Hero in busy market

Happy Monday!

News today includes RiverGlade Capital, which is exiting its controlling stake in U.S. Oral Surgery, which it formed in 2017, to Oak Hill Capital. RiverGlade grew the company to include 48 oral surgery practices and 141 surgeons working with patients at 124 clinics across 18 states. Read it here.

Also, CCMP is working on a process for two portfolio companies in its third fund: BGIS, which provides facility management services; and Truck Hero, which provides aftermarket accessories for pick-up trucks and jeeps.

The deal would allow limited partners in CCMP’s third fund, which closed on $3.6 billion in 2014, to either cash out of their interests in the two assets or reinvest in the continuation fund being formed to hold the companies longer. Read more here on Buyouts.

That’s it for me! Hit me up with tips n’ gossip, feedback and thoughts cwitkowsky@buyoutsinsider.com or over on LinkedIn.

Read the full wire commentary on PE Hub... 

Also of note (may require subscriptions)

More of a good thing: California Public Employees' Retirement System wants more private equity. During its investment committee meeting Monday, the board of the largest public pension system in the US approved raising CalPERS' private allocation target to 13 percent, up from 8 percent. (Buyouts)

Deeper impact: Private markets – specifically early-stage private equity – is seen [by wealth clients] as the most natural way to create impact," James Gifford, head of impact advisory at Credit Suisse, tells New Private Markets. "Clients have become more aware of the societal challenges and see the benefit of doing well by doing good.

Private call: "KKR has launched a more than €33bn offer to take Telecom Italia private in what would be one of the largest private equity buyouts of a European company in history." (Financial Times)