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Vista to take Model N private for $1.25bn; Alpine launches a new platform

Good morning, Hubsters.

The week is starting strong with a big take-private healthcare IT deal from Vista.

And earlier this morning, PE Hub was the first to reveal a new platform investment from Alpine Investors.

Later this week, I’ll be at Private Equity International’s Investor Relations, Marketing & Communications Forum.

Take private

Vista Equity Partners announced earlier today that it is acquiring Model N, a provider of revenue optimization and compliance software for pharmaceutical, medtech and high-tech companies, in an all-cash transaction valued at approximately $1.25 billion.

Upgrade to the premium version of the Wire for more details, including other take-private deals Vista has done.

Rebuilding

Alpine Investors announced earlier today the launch of Guardian Restoration Partners, a platform company focused on partnering with and building home restoration businesses. In tandem with the platform launch, Denver-based Guardian will announce it has acquired three restoration services businesses named DryLux Restoration, Dry Kings Restoration and Midwest Restoration. All three add-on deals have closed.

In an exclusive interview, PE Hub’s Rafael Canton caught up with Alpine partner Daniel Cohen and Guardian CEO Bruno Slosse about the restoration services sector and their plans to grow Guardian.

Subscribers to the premium version of the Wire may read more.

PE Hub has seen a slew of PE investments in restoration services in 2024. In March, we highlighted seven deals in the category, including activity from Orangewood Partners, Summit Partners and Sun Capital Partners.

Coming up

On Wednesday, Private Equity International will kick off the annual Investor Relations, Marketing & Communications Forum in New York.

Highlights will include the keynote fireside chat with Ernesto Anguilla, Partner, Head of Communications & Public Affairs, Bain Capital, moderated by Devin Banerjee, Senior Managing Editor, Industry News and Community, LinkedIn.

On Thursday, I’ll be there, moderating a panel about the opportunities and challenges of investor relations, marketing and communications in today’s private equity industry with:

• Mary Armstrong, Managing Director, Global Head of Marketing & Communications, General Atlantic

• Jeffrey Kauth, Managing Director, Global Public Affairs, Blackstone

• Andrew Tirbeni, Managing Director, Client Relations and Capital Raising, EQT Group

I look forward to seeing many of you there!

Feel free to reach out to me at mk.flynn@pei.group.

Craig McGlashan will be with you on the Wire tomorrow.

Don’t forget to wear your ISO-certified eclipse glasses this afternoon!

Cheers,

MK

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Stonepeak is gearing up to launch its second renewable energy fund with a target of $5 billion, sources have told Infrastructure Investor.

Laura Grattan, a dealmaker with Crosspoint Capital, left the firm last year, the latest professional to leave the firm’s investment team that has bulked up with experienced operators. Crosspoint had been raising its second fund, which was said to have collected around $900 million, sources told Buyouts. It’s not clear if Fund II has held a final close on its $1.5 billion target. 

From higher interest rates to challenges in commercial real estate, a host of factors have conspired to push more borrowers into financial distress in recent months. And with a significant maturity wall looming, investors in the evolving opportunistic credit and distressed debt space could be ideally positioned to step in. A new report from Private Debt Investor takes an in-depth look at the key trends reshaping the opportunistic credit space.

Whitehorse Liquidity Partners of Toronto has rebranded to Dawson Partners as the firm embarks on a global expansion. (Secondaries Investor)

They said it

“Model N is a pioneer in revenue management solutions for the life science and advanced technology industries. They’ve built a strong reputation through a straightforward formula – offering mission-critical products to help maximize revenue growth within some of the most important and innovative companies in the world.”

— Michael Fosnaugh, co-head of Vista’s Flagship Fund and senior managing director, on taking Model N private