PE Hub has been exploring ways private equity portfolio companies are adjusting to the pandemic downturn, tweaking operations to help in the coronavirus fight and find ways to continue generating revenue.
Tritium Partners-backed RVshare experienced business decline like many other travel-related companies in the population lockdown. But more recently, the company has rebounded as Americans choose a different sort of vacation, taking their homes with them on the road, writes Karishma Vanjani on PE Hub.
The company furloughed one-third of its workers, downsized staff by 10 percent, renegotiated contracts and delayed payments with vendors to find relief as revenue dried up, Karishma said. The company also began renting its vehicles to doctors, immuno-compromised individuals, hospitals and utility companies, which the company called “relief bookings.” Read Karishma’s story here.
Martis Capital is selling Care Hospice, which provides end-of-life care, writes Sarah Pringle on PE Hub this morning. Care Hospice generates in the range of $40 million to $60 million Ebitda, depending on how add-on activity and integration of recent acquisitions are viewed, Sarah writes. Read her deal scoop here.
Blackstone Group is nearing its $4 billion target for its second GP stakes fund, writes Kirk Falconer on Buyouts. Blackstone has secured near the target and could go beyond the $4 billion. Read the story here.
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