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Women in PE, Class of 2024; plus Thoma Bravo ups offer for Everbridge

Good morning dealmakers, thank goodness it’s Friday.

It’s Obey Martin Manayiti here with the newsletter this morning.

We are kicking off this Women’s History Month by looking at the work done by female private equity professionals. As our norm, we have a series of stories for the Women in PE, Class of 2024. I have more on this below.

But let’s start with the latest news this morning that Thoma Bravo increased its take-private offer for Everbridge.

And for our Friday listicle, we’re rounding out the week with a look at seven PE backed deals in restoration services.

Amended terms

Thoma Bravo has amended the terms of its previously announced offer to take Everbridge, a Burlington, Massachusetts-based enterprise software firm, private.

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Women in PE, Class of 2024

This month is Women’s History Month, during which will be highlighting Women in PE from the Class of 2024. I will debut with Beth Lesniak, a managing director at Norwest Equity Partners. 

Lesniak has had an interest in finance and investing since childhood, when she recalls scanning through the stock pages in the newspaper, she told PE Hub’s MK Flynn.

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As good as new

Private equity firms see many opportunities in restoration services. Businesses in the category repair or restore properties that have been damaged due to factors such as a fire or natural disaster, writes my colleague Rafael Canton.

Orangewood Capital Partners is one of the firms picking up opportunities in the restoration space. The firm acquired a control equity investment in Servpro West Coast DRT, an Encino, California-headquartered provider of property cleaning, restoration and reconstruction services.

Premium subscribers have access to all the seven deals.

That’s it for today. MK Flynn will be back with more on Monday.

Have a nice weekend,

Obey

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Platinum Equity, in the market with a sixth flagship buyout fund, rolled out a second dedicated offering for lower mid-market investing. (Buyouts)

Buyouts’ 2024 Manufacturing & Industrials report explores a sector at the nexus of some of the top issues of our time.

It’s not just the $30bn-price tag attached to the Brookfield-Intel JV that lands the Canadian asset manager the deal of the year in Infrastructure Investor's annual awards, but also the firm’s contribution to the current trend of onshoring supply chains.

Private Equity International is also out with its annual PEI Awards, celebrating the best and most successful firms in private equity.

Private Debt Investor has a report exploring the dynamics driving many of today’s most popular private debt strategies — from distressed debt to sponsored buyouts, and from leveraged loans to climate finance.

Blackstone and Barclays have entered into a strategic partnership in which Barclays Bank Delaware will sell Blackstone $1.1 billion of credit card debt. (Private Debt Investor)

Why tech talent is flocking to Europe: A surge of investment in climate- and sustainability-focused companies in Europe has swelled the ranks of tech and non-tech workers eager to join such companies, while rising quality of life considerations are influencing where people choose to work. (Venture Capital Journal)

They said it

“I grew up outside of Chicago in a middle-class setting with absolutely no one in the financial world in my family. There was no career awareness or ‘on-ramp’ waiting to be handed to me.”

— Beth Lesniak, a managing director at Norwest Equity Partners, on her journey in PE