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Thoma Bravo sells Imperva for $3.6bn in hot cybersecurity market; RF makes legal play with Nextpoint investment

Good morning Hubsters, Craig McGlashan here with the Tuesday Wire.

We’ve got three deals for you today in sectors that have been in high demand all year.

Cybersecurity is first up, with Thoma Bravo agreeing to sell Imperva to Thales for $3.6 billion.

Next we switch to legal tech, as RF Investment Partners announces a growth investment in Nextpoint.

We then finish on the booming pet sector, where Apollo Global Management has agreed to invest in PetSmart, a pet retailer majority-owned by BC Partners and its co-investors.

Deal secured

Thoma Bravo has agreed to sell Imperva, a San Mateo, California-based data and application cybersecurity firm, to French multinational company Thales for $3.6 billion.

Subscribe to the full version of the Wire to find out the multiples on the deal as well as more of our coverage on this sector.

Legally speaking

RF Investment Partners has made a growth investment in Chicago-based Nextpoint, a legal tech company.

Private equity seems to be betting big on legal. Read the full version of the Wire to find out more.

Pet play

Apollo Global Management has agreed to make an investment in PetSmart, an omnichannel pet retailer in North America.

The boom in pet businesses seems to be a worldwide phenomenon. Check out the full version of the Wire to find out about one of the biggest deals in Europe.

I’ll need to finish there as my own cats are demanding food. Chris Witkowsky will be in the chair tomorrow.

Cheers,

Craig

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Monroe Capital will pay a $1 million penalty to the Securities and Exchange Commission, which alleged the middle market credit shop failed to properly disclose conflicts of interest related to SPACs sponsored by some of its personnel. (Buyouts)

LPs may be in store for some headaches, not to mention the potential for lower returns from their private equity portfolios, if proposed changes to federal pre-merger filing requirements are approved, sources told Buyouts.

At a time when private equity firms are facing challenges trying to complete buyouts, Brookfield Asset Management sees customization of capital – that is, debt and equity combos – as one of the key trends that will define the private capital landscape. Private Equity International recently caught up with Angelo Rufino, managing partner in the firm’s private equity group.

Proterra Investment Partners surpassed an initial target of $400 million to close the second iteration of its credit strategy over its $500 million hard-cap. (Agri Investor)

Global Infrastructure Partners has added a new partner to its infrastructure credit team with the hiring of Brian O’Connor. (Infrastructure Investor)

Generation Investment Management is backing a software company with a product intended to support the responsible use of artificial intelligence. (New Private Markets)

There is a “credit bonanza” under way, according to an executive search firm, and executives with the right credentials for credit fund management will be the ones striking gold. (Private Debt Investor)

Bridgepoint has closed its third direct lending fund with more than €3.4 billion of investable capital. (Private Debt Investor)

Italian venture firm United Ventures, which said it notched “10x” returns last year from the sales of e-sports company FaceIt and music data company Musixmatch, has held a first close on its third early-stage fund, which is targeting €150 million ($166 million). (Venture Capital Journal)

Two years after announcing its first close and making its initial investments, Supply Change Capital today reported a final close on $40 million for its inaugural fund, which is investing in the future of food and food systems. (Venture Capital Journal)