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Leonard Green, TPG and others complete take-private acquisition of Life Time Fitness

An investor group led by Leonard Green & Partners and TPG has closed its previously announced take-private buy of Chanhassen, Minnesota-based health club chain Life Time Fitness Inc. The deal is valued at more than $4 billion. Also, LNK Partners and Bahram Akradi, chairman and CEO of Life Time, were among the transaction’s key investors. As a result of the acquisition’s completion, Life Time has stopped trading on the New York Stock Exchange.

Insight Venture Partners-backed Planview names Chynoweth as EVP and CFO

Planview, a portfolio company of Insight Venture Partners, has hired Vic Chynoweth as executive vice president and chief financial officer. Previously Chynoweth worked at TPG-owned Vertafore Inc where he served as vice president of finance and accounting. Based in Austin, Texas, Planview is a provider of portfolio management and project collaboration solutions.

209 Views

TPG to invest in Poundworld

TPG has agreed to acquire a majority stake in Poundworld Retail Ltd. No financial terms were disclosed. Based in the UK, Poundworld is a value variety retailer.

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peHUB First Read

First Read starts your week with news that TPG is planning on buying Cushman & Wakefield for about $2 billion, Uber’s latest funding puts it at a $50 billion valuation and China’s smartphone market slows in the first quarter.

293 Views

Cushman & Wakefield to merge with DTZ

Cushman & Wakefield and DTZ have agreed to merge. Financial terms weren’t announced. The new real estate services company will have revenues over $5.5 billion, more than 43,000 employees and will manage more than 4 billion square feet globally on behalf of institutional, corporate and private clients, a statement said. DTZ, a Chicago property services firm, is owned by TPG Capital, PAG Asia Capital and Ontario Teachers’ Pension Plan.

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Infinidat raises $150 mln from TPG at $1.2 bln valuation — Corrected

Infinidat said it raised $150 million in a deal led by TPG Growth that values the company at a post money valuation of $1.2 billion, according to a press release. The round is the company’s second and brings total money raised to $230 million. The enterprise storage vendor will use the money to expand globally and meet customer demand.

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