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The Wire Feb. 8, 2021
Audax-backed Gastro Health, Insight Partners' Thycotic ready for sales, Deal Award deadline appraches Morning!
It’s the Monday after Super Bowl Sunday, but just another day of virtual private equity dealmaking. Plus, a new physician practice management company and IT security software business heading to market.
But first, quick reminder for all readers -- deadline for Deal of the Year submissions is coming up quick. We need all submissions by Feb. 12, which will give us enough time for our vetting process. To answer a FAQ, we ask for as much information as possible, including financials. We keep all information confidential; in the case of winners, we get back to the firm to find out exactly what info we can use in our write up of the winning deal.
For more information, go here to download the official rules and regs. You can send all submissions to Chris Witkowsky at [email protected].
A comeback?: After a year in which the healthcare market didn’t see much traditional physician practice management platform activity of scale, Audax Private Equity is gearing up for a sale of...
Read the full wire commentary on PE Hub.
That’s it for today. Have a great week, and as always, write to me with feedback, gossip and tips or whatever at [email protected] or find me on LinkedIn.
Note to Readers: It's that time of year ... for the 21st time, the editors of PE Hub and Buyouts honor exceptional buyouts with our Deal of the Year Awards. Winners are chosen in seven categories: Deal of the Year, Large-Market Deal of the Year, Middle-Market Deal of the Year, Small-Market Deal of the Year, Turnaround of the Year, International Deal of the Year, and Secondaries Deal of the Year. Go here for more information and to read about rules and methodology. Also check out past winners. Last year, New Mountain took the crown with its exit of Equian. If you have additional questions, email Private Equity Editor Chris Witkowsky at [email protected].
Also of note (may require subscriptions) Under fire: Alan Pardee, a co-founder of placement firm Mercury Capital Advisors who left last year, is suing one of his partners, claiming he was bringing in white males like himself and sidelining minorities and women, according to a recent lawsuit. Mercury denied what it called the “meritless claims” in a statement to Buyouts. Read more here.
Guilty: Former TPG executive William McGlashan Jr. has agreed to plead guilty for his role in the Varsity Blues college admissions scandal, heading off a trial that was slated to begin later this year, WSJ Pro writes.
SPAC talks: Matterport, a maker of software for virtual walk-throughs of properties, is in advanced talks to go public through a merger with blank check company Gores Holdings VI Inc., people familiar with the matter told Bloomberg. The transaction is set to value the combined entity at more than $2 billion, one person told the media outlet.
PE Deals
They said it “They’re perceived as a kingmaker,” she said. “Anytime they do a deal, people automatically assume it’s good quality.” Kristi Marvin, founder of data and research provider SPACInsider.com and a former banker, told WSJ Pro, speaking to Credit Suisse’s involvement advising on SPACs mergers.
Today's letter was prepared by Sarah Pringle Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MOREPlease visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC.
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