1208 - Notes de cours 5 PDF

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Informations sur l'industrie du Private Equity au mois d'Aout...

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1208 17/08/2021

GPI Capital buys stake in Hopper, pushing valuation to approximately $3.5bn; Gryphon Investors buys PPE manufacturer Happy Tuesday! Private equity firms have been increasingly looking downstream to invest in late-stage growth companies. I wrote a big piece about this trend just this month and today's newsletter talks about a deal within the growth space itself. GPI Capital led a $175 million Series G round in Hopper, a mobile-only travel booking application, with an aim to scale its customer service capabilities while expanding into other products and markets through acquisitions. The deal rationale for the firm was simple: The travel industry is witnessing a rebound and the company’s triple-digit growth in a challenging pandemic market was impressive, according to Khai Ha, managing partner at GPI Capital, now also a board member at Hopper. In just March this year, the company raised $170 million in Series F funding led by Capital One Financial. According to sources, this round valued the company at $3.5 billion and saw participation from investors like Glade Brook Capital, WestCap, Goldman Sachs Growth and Accomplice. [pehub.com/gpi-capital-buys-stake-in-hopper-pushingvaluation-to-approximately-3-5bn/]Read my story on PE Hub. Protective manufacturing platform: Gryphon Investor-backed Mechanix Wear, a designer and manufacturer of work gloves, announced today the acquisition of Chicago Protective Apparel, a 108-year-old, family-owned manufacturer of personal protective equipment company. The company manufactures flash protective clothing and PPE to keep workers safe from hazards. Gryphon made an investment in Valencia, Californiabased Mechanix Wear in August of last year. Mechanix specializes in automotive, construction, industrial, and tactical hand protection. Read the brief on PE Hub. Tell me what's happening on ground zero? At a summer BBQ event on Sunday, I met a PE firm recruiter. The source tells me that most firms are aggressively hunting for diverse talent - especially women. While this isn't new (something I've heard from another recruiter as well), I'm wondering about other efforts by PE firms to incorporate diversity in their firms.

Today's must reads > GPI Capital buys stake in Hopper, pushing valuation to approximately $3.5bn More... > JAB Investors’ NVA buys Ethos Veterinary Health in $1.65bn deal More... > Vance Street builds out defense tech platform, closes first add-on More... > Biden’s infrastructure bill: Not a game changer for clean-energy investors More...

OMERS performance: OMERS Private Equity, which underperformed in last year’s virus-roiled market, returned to double-digit territory in H1 of this year, thanks in part to a high-profile exit. Read on Buyouts. Rhône Group spin-out eyes debut fund: Px3 Partners, which stands for purpose, passion and performance, is understood to be seeking at least €750 million for its debut offering, according to two sources with knowledge of the matter. Read on PEI.

An ‘ever-changing’ market: North Sky Capital’s Scott Barrington shares his thoughts on the ongoing evolution of the sustainable investment landscape in the first of an interview series from New Private Market's Impact 20 ranking.

PE Deals > Nexa Equity makes majority growth investment in AutoReturn More... > Gryphon-backed Mechanix Wear adds on Chicago Protective Apparel More... > Market Square-backed Ontario Excavac sold to infra investor More... > TJC to buy Arclin from Lone Star Funds More... > Insight Partners invests in indie music distributor DistroKid More... > PE-backed Pavement Partners buys Dominion More... > Exponent buys Dennis Publishing More... > CVC Capital to buy Stock Spirits for about $1bn: Reuters More... > Mill Point-backed Anexinet to buy Light Networks More... > PE-backed GenServe acquires LJ Power More... > L Squared buys Crane 1 More... > PE-backed Spectra buys Galleon More... > Primus funds Bloomfire More... > HHC invests in vacation rental manager VTrips More... > Stelco completes C$398m rebuy of Lindsay Goldberg shares More... > Manulife’s Hancock affiliate acquires Maine timberland More... > Hyatt Hotels to buy ALG from KKR and KSL Capital for $2.7bn More... > SFW Capital-backed Caron completes acquisition of Bigneat More...

> MDF Commerce to acquire Parthenon-backed Periscope More... > Apiary Capital takes stake in MediaSense More... > Fundamental Advisor completes MMA Capital Holdings acquisition More... > Argan (Mauritius) and TA Associates to divest stakes in ACT to Partners Group More... > PE-backed Weco Manufacturing makes two add-on acquisitions More... > Clearlake invests in RSA Security More... > L Catterton to acquire hair extensions provider BIG More...

People > Palladium Equity hires one and promotes two More... > Langdon Park Capital Announces Hires of Real Estate Industry Leaders More... > Ara Partners hires two as associates More... > Hidden Harbor Capital Partners expands team with four hires More... > IMCO hires CPPIB’s Stoyanova as chief investment officer More... > Apollo appoints new operating partner More... > Hunter Streets appoints Pillai as senior advisor More... > PE-backed Aqua Leisure hires CFO More... > Fidelity Investments taps Scott as managing director for direct lending business More... > EY taps Stoffel as global private equity leader More......