Dyal, Owl Rock explore strategic combination, Riverside Partners building cybersecurity services platform, York Capital makes growth investment in F1 Payments

Dyal Capital Partners is reportedly exploring merging with Owl Rock Capital Partners and Crossplane closes buyout of Griffin Dewatering.

We have a smattering of juicy M&A intel for you this morning. The market seems to be humming along as we careen precariously to the blessed end of 2020.

Water: Crossplane Capital was formed by ex-Prophet Equity managing directors Brian Hegi and Ben Eakes in 2018. The firm has been targeting $250 million for its debut fund.

The firm on Wednesday closed its acquisition of Griffin Dewatering, a Houston-based company that provides groundwater control services for civil and infrastructure, industrial, power and commercial construction projects. Read more here.

New platform: Riverside Partners is building a managed IT and cybersecurity services platform with the combination of two businesses, writes Milana Vinn. Riverside is combining Grade A and Convergence Networks and investing new equity in the platform to accelerate growth.

The platform focuses on helping small-to-medium businesses plan, manage, support, maximize and protect IT investments, Milana writes. Read more here.

Big news: This seems huge – Dyal Capital Partners is reportedly exploring combining with Owl Rock Capital Partners, the firms announced in a statement last night. The statement came after a story in WSJ by PE scoopster Miriam Gottfried and Cara Lombardo. Owl Rock, Dyal and Dyal backer Neuberger Berman would all have ownership stakes in the combined entity, the statement said.

WSJ said the deal will also include SPAC firm Altimar Acquisition Corp. What have you heard? Hit me up at cwitkowsky@buyoutsinsider.com.

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 cwitkowsky@buyoutsinsider.com.