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The Wire June 1, 2021
KKR, CD&R buy Cloudera for ~$5.3b, RiverGlade, Thurston, prep oral surgery platform for sale, New Mountains' DRB Systems starts auction Good morning, readers!
Hope everyone had a beautiful Memorial Day weekend. Today we have a big tech deal announcement. Clayton, Dubilier & Rice and KKR acquired Cloudera, an enterprise data cloud company, through a take-private, all cash transaction valued at approximately $5.3 billion.The deal, expected to close in the second-half, adds to KKR's and CD&R's list of technology-related businesses, according to the press release.
New opportunities: In the healthcare space, U.S. Oral Surgery Management, backed by RiverGlade Partners and Thurston Group, is gearing up for a sale, people told PE Hub's Sarah Pringle. Moelis has been hired to advise on an upcoming process, sources said. Read more on PE Hub. On the tech front, New Mountain Capital has kicked off a sale process for DRB Systems, a point-of-sale and hardware provider for the car wash industry, sources familiar with the matter told PE Hub. DRB Systems, based in Akron, Ohio, provides software and hardware innovations tailored to the car wash industry. DRB is working with...Check out the full report on PE Hub.
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That’s it for today! As always, don't hesitate to hit me up at [email protected] with tips, comments or just to say hello!
Also of note (may require subscriptions) 'You are hired': Aksia TorreyCove has hired Trevor Jackson as a senior portfolio advisor, Buyouts has learned. Although Aksia TorreyCove is a private equity consultant for LACERS, Jackson, who has more than 20 years of investment experience, will be working across asset classes. Read it on Buyouts.
PEI 300: Private Equity International’s list of the world’s biggest private equity firms, based on how much capital they raised over the last five years is up. Blackstone retains the top spot, with a five-year fundraising total of $93.2 billion – $13 billion more than KKR which was hot on its heels. Check out the list on PEI.
Applications accpeted: New York City Office of the Comptroller is looking for a new head of private equity. The Bureau of Asset Management, overseeing $250 billion in assets on behalf of five city pension systems, posted $250,000 to $265,000 as the salary range for the position, reported PrivateEquityCareer.com. Check out the posting here.
PE Deals
They said it “Volatility brings great opportunity. We shouldn’t be afraid of inflation or volatility because it does create opportunities.” Denise Le Gal, chair of the UK’s Brunel Pension Partnership, said at the virtual conference, said at PEI’s Women in Private Markets Networking Day.
Today's letter was prepared by Karishma Vanjani 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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