Jon Korngold, Blackstone Group, private equity, growth equity, General Atlantic

Blackstone eyes dating apps, other recession-resistant assets after MagicLab deal

Blackstone Group — after its investment in MagicLab (an owner of dating app Bumble)—sees opportunity in other online marketplaces, according to Jon Korngold, senior managing director and head of the firm’s growth equity team. Last week, Blackstone announced it is taking a control position in MagicLab, a parent company for the women-centered dating platform Bumble and […]

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Carbonite draws final bids from PE firms

Update: On Monday, Nov. 11, OpenText announced it would acquire Carbonite for $23 a share in a cash deal. Including debt, the transaction values Carbonite at $1.42 billion. Multiple PE firms are circling the sale of Carbonite, a Nasdaq-listed data protection company, which is accepting final bids, five sources familiar with the process told Buyouts. […]

private equity career
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Wells Fargo industrials banker to join Goldman’s mid-market group

Wells Fargo industrials banker Casey Rentch joined Goldman Sachs as the bank seeks to capture a larger share of the middle-market advisory and financing market. Rentch, who spent 14 years at Wells Fargo, will join Goldman Sachs next week as a managing director focused on the industrial sector, out of Atlanta. He will be part of […]

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Q&A with David Friedland and Pete Lyon of Goldman Sachs on mid-market push

Goldman Sachs launched a dedicated middle-market advisory and financing effort earlier this year, pushing into the market for companies—sponsor and non-sponsor backed—with enterprise values of $500 million to $2 billion. Goldman expects more than 100 bankers to work on the middle-market team, called Cross Markets Group. Three senior bankers, David Friedland, Will Bousquette and Rob […]

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Riverside to grow its EdTech platform post-merger

Riverside Company wants to build out its education technology platform after the recent merger of OmniUpdate and Destiny Solutions. Earlier this week, Riverside acquired OmniUpdate, an internet content management system (CMS) provider for higher education clients. As part of the deal, the firm simultaneously merged OmniUpdate with Destiny Solutions, a provider of student lifecycle management […]

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Quilvest Private Equity explores options for Command Alkon

Quilvest Private Equity is weighing options for Command Alkon, a construction software and supply chain provider, three sources familiar with the process told Buyouts. William Blair will be advising Command Alkon on the potential sale, the people said. Quilvest Private Equity, the PE arm of global asset manager Quilvest Group, may kick off the sale […]

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In a high-priced world, PE firms turn to joint control in software

Last year, Hg approached TA Associates to acquire Access Group, a U.K.-based business management software provider. TA was not interested in fully exiting the company. But the two firms hit on a novel idea that appears to be gaining popularity in today’s high-priced market. Boston-based TA chose to sell a 50 percent stake in the […]

HGGC, Rich Lawson, PartnerConnect
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After Monotype’s take-private, HGGC continues looking at public markets for deals

HGGC is looking for more deals in the public market after the firm completed its third take-private in a two-year stretch. The firm closed its acquisition of publicly listed Monotype Imaging Holdings in October. The $825 million take-private of the typeface developer, which owns rights to popular fonts such as Times New Roman and Helvetica, […]

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Advent to sell P2 Energy six years after the deal with Vista

P2 Energy Solutions, backed by Advent International, is looking for a new owner in a deal that could value the company between $1.3 billion and $1.5 billion, four sources familiar with the company told Buyouts. The sale process is likely to kick off early next year, one of the sources said. William Blair will be […]

Blackstone, New Mountain Capital, JDA Software, private equity
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KKR-backed Epicor comes off market

KKR & Co pulled the process for Epicor Software after bids came in below expectations, sources familiar with the process told Buyouts. KKR, advised by Barclays, was expected to fetch between $4 billion and $5 billion for Epicor, Buyouts reported in August. The process, which kicked off in the summer, attracted the interest of both […]

proptech, property, real estate, venture capital,
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Insight Partners weighs sale of InhabitIQ that could fetch $1.8 bln

Insight Partners is weighing a sale of property-management-software provider InhabitIQ in a deal that could draw almost $1.8 billion, three sources familiar with the process told Buyouts. Multiple tech bankers have pitched to advise the company on its sale, sources said. The seller is likely to award a mandate in a few weeks, they said. […]

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AKKR preps sale of Energy Services Group

Accel-KKR is looking to sell Energy Services Group (ESG), three sources familiar with the process told Buyouts. The process will kick off in 2020, one of the sources said. ESG, based out of Norwell, Massachusetts, is a software-as-a-service provider of business process solutions in the retail energy industry. The company providers SaaS tools for transaction management, […]

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Huron Capital to expand recession-resistant facility services focus with more add-ons

As the environment turns more uncertain, some private equity firms are targeting companies that they consider resistant to downturns because of the product or service they provide. Huron Capital, based in Detroit, Michigan, is pursuing such a strategy. The firm is looking for more add-on acquisitions in facility services to build up its three existing […]

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Warburg Pincus kicks off sale of travel-tech company Accelya

Warburg Pincus put software analytics company Accelya on the block, people familiar with the company told Buyouts. Marketing materials for the company have been sent out and the deal could value the company up to $1.5 billion, the people said. Evercore is advising the company on its sale, they said. In August, Bank of America […]

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Warburg Pincus puts RS Energy on the block

Warburg Pincus is looking for a buyer for RS Energy Group, a provider of analytics and data-driven energy intelligence, people familiar with the process told Buyouts. The sale process is in the early stages, and it’s unclear when first-round bids are due, the people said. Credit Suisse is advising the company on the sale, they […]

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Carlyle adds chief digital officer to drive innovation in portfolio companies

Carlyle Group hired Matt Anderson as its chief digital officer to drive innovation and growth in Carlyle’s portfolio companies, the firm told Buyouts. Anderson joined Carlyle from Arrow Electronics, where he was a president and chief digital officer, on Sept. 30. Anderson will be responsible for development and implementation of digital transformation strategies to help […]