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The Wire July 22, 2021
Linden Capital preps sale of Smile Doctors, Private equity astronaut makes maiden flight into the stars Happy Thursday!
Linden Capital is prepping a sale of Smile Doctors, an orthodontics-focused dental services organization, writes Sarah on PE Hub today. Smile Doctors’ scale gives it some advantages, but also places it solidly in an area where only a few buyers can realistically pick it up, sources said. Read it here on PE Hub.
And, we have a private equity astronaut! Mark Bezos, founder of HighPost Capital, ascended into the cosmos alongside his brother, Amazon founder Jeff Bezos. The New Shepard rocket traveled to a height of 66.5 miles in the trip that lasted just over 10 minutes, writes Kirk Falconer on Buyouts this morning. Mark Bezos launched HighPost in 2019 to invest in mid-market consumer businesses, alongside managing partner and CEO David Moross, who also founded Falconhead Capital. Read it here on Buyouts.
That’s it for today! Hit me up with tips n’ gossip, feedback or The Drama at [email protected] or find me on LinkedIn.
Read the full wire commentary on PE Hub...
Also of note (may require subscriptions)
Move: PA SERS alternatives investment chief, David Felix, has left the system, the latest example of a long-serving private equity chief moving on and taking with him a ton of institutional knowledge and relationships. PE is especially vulnerable to high team turnover, as the asset class requires a depth of experience because of its long fund life. Read it here on Buyouts.
Cyber: Audax Private Equity made a majority growth investment in security provider Flashpoint. Flashpoint was backed by Georgian Partners, Greycroft Partners, TechOperators, K2 Integrity, Jump Capital, Leaders Fund, Bloomberg Beta and Cisco Investments, many of which rolled a portion of their interests into the deal. Read it here on PE Hub.
Temp: Goldman Sachs invested $50 million in Phononic, which provides solid-state cooling and heating technology. Goldman joins previous investors Temasek, Franklin Templeton, Venrock, Oak Investment Partners and others. Read it here on PE Hub.
PE Deals
They said it “The reality, however, is that progress in energy efficiency has had the most significant impact, followed by switching from coal to gas. Renewables come in at number three. It will take effective battery storage to really shift the needle there.” Doug Kimmelman , ECP founder and senior partner, talks to Buyouts about the largest contributors to decarbonization.
Today's letter was prepared by Chris Witkowsky 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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