Bain, Cinven fork out $4.7bn for Euro chem biz

The Wire

Feb. 9, 2021

Bain Capital, Cinven carve-out Swiss-based Lonza unit, BC Partners' Appgate unveils $1bn merger, Wells Fargo bets on telepsychiatry

Happy Tuesday!

In today's news, Appgate, a cybersecurity company backed by BC Partners and Medina Capital, said it will enter the public markets by merging with Newton Lane Marketing, a shell company led by the prior owner of Washington Capitals. The deal values the combined company at $1 billion. In another big check, Bain Capital and Cinven will spend $4.7 billion, including debt, to buy the specialty ingredients unit of Lonza Group, a Swiss chemicals business providing ingredients for disinfectants and personal care products.

Lastly, Wells Fargo Strategic Capital is leading a $24 million growth equity investment in Array Behavioral Care, betting on the long-term growth and adoption of telepsychiatry everywhere from the hospital setting to home. It was through WFSC Managing Director Rodney Altman's first-hand experience as a physician that...

Read the full wire commentary on PE Hub.

That’s it for today. Have a great week ahead, and as always, hit me up with feedback, gossip and tips or whatever you have to say at [email protected] or find me on LinkedIn.

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Secondaries news: Ardian has emerged as lead investor on New Mountain’s massive continuation fund deal, sources told Buyouts. New Mountain’s GP-led deal is one of the high-profile secondaries deals to hit the market post-lockdown.