S&P Global Market Intelligence offers our top picks of global private equity news stories and more published throughout the week.
Exit strategy
KKR & Co. was among the firms in the news this week looking to sell portfolio companies. KKR's European vending machine operator, Selecta Group BV, and Switzerland-based IT consultancy firm, SoftwareONE AG, are both slated to launch IPOs this month to raise at least CHF1 billion each, several sources with knowledge of the transactions told Reuters.
The alternative asset manager is also exploring options for German defense company Hensoldt GmbH. KKR is preparing a possible flotation of as much as 30% of shares in Hensoldt, or selling it to another defense company or investor for €2 billion, Reuters reported.
Antin Infrastructure Partners is considering the sale of Netherlands-based Eurofiber BV, which could be valued at more than €1.5 billion, Bloomberg reported, citing people with knowledge of the matter.
In the U.S., GI Partners LLC and TA Associates Management LP are exploring options for real estate software provider MRI Software LLC, which could fetch between $2.5 billion and $3.5 billion in a sale, Crain's Cleveland Business reported, citing a report from PE Hub Buyouts.
And in India, Blackstone Group Inc. could look to exit its newly formed Indian automotive components joint venture Sona Comstar via an IPO within the next two years, Livemint reported, citing Sona Comstar Chairman Sunjay Kapur.
Going public
EQT Partners AB confirmed that it plans to IPO on Nasdaq Stockholm with an aim to raise proceeds of at least €500 million. The firm said the offering will comprise about 20% of its total share capital. Reuters previously reported that the firm had brought on JPMorgan and SEB as global coordinators and Goldman Sachs, Morgan Stanley, UBS and Nordea as joint book runners for the offering.
To market, to market
* KKR expressed interest in purchasing ticket marketplace StubHub Inc., which is being sold by e-commerce giant eBay Inc., Bloomberg reported, citing people familiar with the matter. Other parties reportedly interested in the business, which could be worth around $3 billion, include Silver Lake Partners and Vivid Seats Ltd., a portfolio company of GTCR LLC and Vista Equity Partners LLC.
EBay corporate campus in Berlin.Source: The Associated Press |
* Technology investors including Naspers Ventures, Tiger Global Management LLC and the SoftBank Vision Fund, a fund managed by SoftBank Investment Advisers (UK) Ltd., have held discussions with Dream11 Fantasy Pvt. Ltd. to purchase a stake in the India-based online fantasy cricket game platform, two sources briefed on the matter told The Times of India.
* TPG Sixth Street Partners, which is one of the owners of AirTrunk Pte Ltd., is seeking a new investor to help fund the data center operator's growth strategy in the Asia-Pacific region, sources told The Australian Financial Review's Street Talk.
* Private investment firms are among those that expressed interest in a stake in Williams Advanced Engineering Ltd., the engineering unit of Williams Grand Prix Holdings PLC, Sky News reported, citing unnamed sources.
* German escalator and elevator manufacturer thyssenkrupp AG has put its elevator business up for sale, and private equity firms are on the list of potential investors contacted by the company. Reuters reported that KONE Oyj is considering partnering with a private equity firm to make a bid.
* Kedaara Capital Investment Managers Ltd. is in discussions to acquire about $100 million of shares in Indian eyewear retailer Lenskart Solutions Pvt. Ltd. in a deal that could value the company at $1 billion, The Economic Times of India reported, citing people familiar with the matter.
A SoftBankSource: The Associated Press |
Restructuring plans
* EQT Credit, the credit arm of EQT, and Brigade Capital Management LP became the largest shareholders of Monitronics International Inc. as the security company emerged from bankruptcy after the completing its restructuring plan.
* Triton's plan to place Galapagos Holding SA into administration in the U.K., which would force through a planned financial restructuring of the Luxembourg-based industrial company, has been blocked by a group of junior creditors, people with knowledge of the matter told The Wall Street Journal.
It's a deal
* Lindsay Goldberg LLC has agreed to purchase Swiss pharmaceutical packaging company Bilcare Research AG, two people close to the matter told Reuters.
* An Impilo AB-arranged investor group is buying the Euro Accident Health and Care Insurance Sweden operation of National General Holdings Corp. for $138 million.
* Carlyle Group LP will purchase a majority stake in video interviewing software company HireVue Inc.
* TPG Capital Management LP agreed to acquire CollabNet Inc. from Vector Capital Management LP.
Fundraising
* L Catterton Partners is aiming to collect $4.0 billion for its ninth private equity fund.
* Lindsay Goldberg pulled in about $2.87 billion for Lindsay Goldberg V LP.
* Freeman Spogli & Co. closed its eighth fund with $1.85 billion in capital commitments.
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