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The Wire May 26, 2021
Thoma takes victory lap for Riverside's Greenphire, VSS invests behind growth in Oracle ecosystem, KKR injects $55m in eSSENTIAL accessibility
Happy hump day, everybody!
In today’s headlines, Thoma Bravo unveiled its purchase of Greenphire, concluding a highly anticipated sale process launched earlier this year for the clinical trial payments technology business. Financial terms weren’t disclosed, however sources told PE Hub in January that existing investor Riverside Co hoped to fetch some $1 billion in a potential transaction. Recurring revenue stands at about $100 million, sources said at that time. One question was raised by sources in recent months. Would a financial sponsor... Read PE Hub’s brief on the deal and my previous coverage here.
In other news, VSS Capital Partners invested $20 million to $40 million in Centroid Systems, a managed cloud-services provider, according to people familiar with the matter. Elsewhere, KKR is investing behind an interesting business concept I’ve never really considered. The firm injected $55 million in eSSENTIAL Accessibility, which through its tech and software helps to ensure online equality against the backdrop of more than one billion people worldwide who are living with a disability.
Read the full wire commentary on PE Hub...
That's it for me. Have a great week ahead, and as always, hit me up at springle@buyoutsinsider.com with any comments, tips or just to say hello!
Also of note (may require subscriptions)
New frontiers: Scott Conners’ goal in helping found FlowStone Partners was simple: “democratize” private equity by providing a path for high-net-worth investors to access private equity investments without having to build a family office. Now, with about 300 investors and the FlowStone Opportunity Fund's pro forma value between $160 million and $170 million as of the beginning of April, Conners feels ready to look toward new frontiers. Read it here on Buyouts.
Newbie: GrowthCurve Capital, unveiled this week by founder Sumit Rajpal, ex-global co-head of Goldman Sachs’ merchant banking division, is preparing to launch an inaugural offering, sources told Buyouts. Read on Buyouts how much the fund is expecting to target.
Global push: HarbourVest Partners, headquartered in Boston, is opening its fifth office in Asia and its 11th worldwide, Private Equity International has learned. Check it out here.
PE Deals
They said it “Impact comes from thinking about where sustainability macro-themes intersect with where profitability is in the industry.” Megan Starr, Carlyle’s global head of impact, said during a panel at PEI Media’s Impact Investing Forum.
Today's letter was prepared by Sarah Pringle Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MOREPlease visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC.
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