PE HUB Wire Highlights, 1.5.19


Photo of Luisa Beltran, PE HUB Senior Editor, courtesy of Buyouts Insider.

L Catterton invests in Femme; When PE execs shrug off disappointment to launch their own firms

Happy Year of the Pig, everyone. It’s a beautiful day in NYC, which is incredible considering last week.

Not much news today. Chris has a story on Alex Navab, the former head of KKR’s Americas private equity business, who may launch his own fund. Last year, KKR announced its leadership succession, tapping Joe Bae and Scott Nuttall to become co-presidents and co-COOs. They left out Navab, who then launched Navab Holdingswith a commitment from Goldman Sachs.

Personally, I applaud people who rise from the ashes of disappointment and move on. Navab doesn’t seem like he’s resting on his laurels. Who else has done this? See Chris’s story to find out how much Navab is seeking.

Fintech: The circle of life is hitting the payments sector. There aren’t many small cap payments companies left in the U.S. for private equity to buy, I’m hearing. This comes after Repay was sold to Thunder Bridge, a blank check company. (The sale valued Repay at $653 million.)

“There are lots of payments companies that make $3 million, $4 million, $5 million or $10 million EBITDA but you need to roll those up to be sold,” a source said.

Last year, I was hearing that large U.S. buyout shops were having to hunt for payments deals in Europe. Just wondering if this trend is continuing. Which companies are still available? Email your thoughts to me at [email protected]

DealsL Catterton has invested in Femme – Laboratório da Mulher. Financial terms weren’t announced. Femme, of São Paulo, offers women diagnostic gynecology, ultrasound, fetal medicine, breast imaging, genetics, pathology lab and blood tests. See our brief here.

Wynnchurch Capital has acquired Boss Industries LLC, which provides power take-off and engine driven rotary screw air technology that is used in compressors and vapor recovery systems. Check out our brief here.

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