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| | | | | PitchBook Dealmakers Column
General market conditions remain positive, but new loan volume and M&A activity continued to trail prior-year levels in the third quarter. Find out why in the latest issue of BMO Sponsor Finance’s Transaction Trends.
Elsewhere, we take a look at what contributed to a decline in pricing. We also focus on how the market is reacting to the uncertainty in the current global interest rate environment, and what we may expect from the Federal Reserve in 2017.
To learn what’s behind these and other data points in middle-market deals, download the full issue of Transaction Trends. You can also contact Stephen R. Isaacs, Managing Director-Group Head, BMO Sponsor Finance at +1 (312) 461-6236 or [email protected].
This article represents the views of the author only and does not necessarily represent the views of PitchBook. |
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| | | | | | | | | | | Despite Brexit, the past six months for the private equity business of 3i Group have been nothing short of smashing. [Reuters]
Researchers have designed a wireless implant that allows paralyzed monkeys to walk again. [Quartz]
It’s not all bad news at Deutsche Bank. [Bloomberg]
A plea for Facebook to stop spreading lies. [The Intercept] |
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| Since yesterday, the PitchBook Platform added: | | 165 Deals | 1221 People | 456 Companies | 2 Funds |
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| | | 2006 Vintage US Buyout Funds with Energy Investments |
| | | Median IRR | | | | Top Quartile IRR Hurdle Rate | | | | 1.53x Median TVPI | $3.47B Average Amount Distributed |
| | | | *IRR: net of fees | | 44 Funds in Benchmark » |
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| | | Advent closes $3.8B inVentiv deal |
| | | Healthcare Services | Burlington, MA | Secondary Buyout |
| Advent International has completed its acquisition of a co-ownership stake in inVentiv Health, joining Thomas H. Lee Partners as an equal backer. The deal values inVentiv, a provider of professional services for the biopharmaceutical industry, at $3.8 billion. THL has backed the company since 2010. |
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| | | | | | | | | J.F. Lehman business goes Boom |
| | | Environmental Services | Gorham, ME | Add-on |
| | | | | | | | | | | | IT Consulting | Houston, TX | PE Growth |
| Riordan, Lewis & Haden has partnered with company management to complete an investment in Utegration, a provider of consulting, customization and implementation services for the utility industry. |
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| | | | | | | | | New Energy boosts Ygrene with $30M |
| | | Specialized Finance | Santa Rosa, CA | PE Growth |
| New Energy Capital Partners has invested $30 million in Ygrene Energy Fund, a provider of residential, commercial and multifamily financing for clean energy. The fresh capital brings the company’s PACE asset financing capacity to a reported $280 million. To date, Ygrene has been approved by 319 cities and counties in California, Florida, Georgia and Missouri. |
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| | | Permira backs Alter Domus |
| | | Accounting, Audit and Tax Services | Luxembourg City, Luxembourg | PE Growth |
| Permira has made a significant investment in Alter Domus, a provider of fund and corporate services to private equity managers, real estate firms and other clients in the finance industry. Founded in 2003 and operating on five continents, Alter Domus plans to use the funding for further international growth. |
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| | | | | | | | | | | | Recreational Goods | Stuttgart, Germany | Acquisition |
| EQT Partners has agreed to sell its stake in internetstores, an online retailer of bikes and outdoor equipment, to SIGNA Retail. EQT first backed internetstores in 2012, helping the company expand into seven new European countries. Markus Winter will become CEO of internetstores as part of the deal and founder René Marius Köhler will become chairman of the company's board. |
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| | | American Capital polishes off flooring exit |
| | | Building Products | Ontario, Canada | Corporate Acquisition |
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| | | MPE Partners II closes on $250M |
| | | Morgenthaler Private Equity has closed its oversubscribed second fund, which will focus on investments in the lower middle market. Founded in 2012, MPE seeks transactions valued between $25 million and $150 million with companies in the manufacturing and industrial sectors. |
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| | | Former Blackboard CEO joins THL |
| | | Thomas H. Lee Partners has announced the addition of Jay H. Bhatt as a managing director in the firm’s media, information services & technology group. Bhatt, who most recently worked as the CEO and president of edtech company Blackboard, will help the firm identify and execute new deals in the IT sector. |
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