Top Private Equity Acquisitions of the Month
In a series of significant moves, various companies have seen changes in their financial landscapes due to investments and potential takeovers.
Silver Lake and GIC have finalised a $1.7bn acquisition of monetization platform Zuora, taking the company private. According to Tien Tzuo, Founder and CEO of Zuora, this move will strengthen the company's ability to drive financial operations innovation and support evolving revenue models. Zuora serves over 1,000 clients, including General Motors, The New York Times, Caterpillar, and Zoom.
Meanwhile, in the healthcare sector, private equity firm BC Partners is reportedly preparing a takeover bid for Gerresheimer, a German medical packaging company. The deal, valued at approximately $4.1bn, is in its early stages, with Gerresheimer in discussions with private equity investors. Potential buyers include private equity firms Warburg Pincus, EQT AB, and KKR, with Warburg Pincus reportedly in talks with KPS Capital Partners for a possible joint bid.
The news of potential takeover interest sent Gerresheimer's shares surging as much as 15%. Similarly, speculation about a takeover bid of Pets at Home has led to a 14% increase in the company's shares on February 26.
In another notable development, KKR has acquired nearly 58% of Japan's Fuji Soft after a two-stage tender offer. The all-cash deal is valued at $10 per share, making it Japan's largest take-private deal this year.
Shares in Walgreens Boots Alliance (WBA) soared 11% in New York following reports of ongoing takeover discussions with private equity firm Sycamore Partners. However, the company has not yet confirmed these reports.
It's worth noting that the listed director of several of these entities matches the name of Michael Chang, BC Partners' New York-based co-head of healthcare. Chang is also linked to BC Partners' investment in US pet retailer PetSmart.
The acquisition of Zuora by Silver Lake and GIC follows Silver Lake's $400m strategic investment in 2022. Zuora's software helps businesses manage pricing, billing, payments, and revenue recognition.
These developments underscore the ongoing activity in the global markets, with private equity firms playing a significant role in shaping the future of various industries.
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