H.I.G. readies Sportfive sale; Bain to seek Rocket Software bids

S&P Global Market Intelligence presents In Play Today, a periodic summary of potential private equity deal activity, including rumored transactions. This summary is based on information obtained on a best-efforts basis and may not be inclusive of all potential deal activity.

– Bain Capital LP and Kohlberg Kravis Roberts & Co. LP have reportedly engaged in exploratory talks to acquire a controlling stake in Aakash Educational Services Ltd. from Think and Learn Private Ltd., doing business as Byju's. The Carlyle Group Inc. is said to be among the private equity firms open to backing a bid for the India-based test preparation company from its former CEO, Aakash Chaudhry, who sold his stake in the business in 2021. However, a spokesperson told The Economic Times that Byju's is not exploring a sale for Aakash Educational Services.

– H.I.G. Capital LLC is in early-stage deliberations to sell sports marketing business Sportfive SA possibly in 2024, Reuters reported. Citi was hired to help with the sale exploration, people familiar with the matter reportedly told the news outlet.

– KKR is among the prospective bidders for a portfolio of recreational vehicle loans held by Bank of Montreal, Bloomberg News reported. People with knowledge of the matter reportedly said the portfolio has a face value of at least $5 billion.

– Bain Capital is evaluating a potential sale for Rocket Software Inc. and will solicit interest in the enterprise software business in 2024, Bloomberg reported. Rocket's value could exceed $5 billion, including debt, according to the report.

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