Transactions

Genstar Exits IAS Platform

Genstar has closed the sale of Innovative Aftermarket Systems, a provider of automotive finance and insurance products, to publicly traded iA Financial Group. Innovative Aftermarket Systems (IAS) provides automotive warranties, vehicle services contracts, training, and other related software and services. The company is headquartered in Austin, Texas with additional offices in Oklahoma City, Oklahoma and…

Riverside Exits ActivStyle

The Riverside Company has agreed to sell ActivStyle, a distributor of consumable medical supplies with an emphasis on incontinence products, to publicly traded AdaptHealth. ActivStyle is headquartered in Minneapolis with branch locations in Iowa, Illinois, and Ohio. The company, led by CEO Gayle Devin, serves more than 65,000 patients across 48 states. Riverside acquired ActivStyle…

Inverness Graham Buys KICTeam

Inverness Graham has acquired KICTeam, a maker of consumable products used to clean and maintain electronic devices. KICTeam specializes in the manufacture of cleaning tools, technologies, and agents that are used to clean technical devices such as electronic card readers, ATMs, and point POS devices that are involved in payment, currency, image processing, and printing.…

Apax Buys Preferred Stock of KAR

Apax Partners has agreed to purchase $550 million of perpetual convertible preferred stock of publicly traded KAR Global. KAR Global (NYSE: KAR) operates used vehicle auctions and provides vehicle remarketing services in the United States, Europe, Canada, Mexico, and the United Kingdom. The company operates through two segments, ADESA Auctions which sells used vehicles through…

Carlyle Funds Adams Outdoor

The Carlyle Group has provided a debt financing package to Adams Outdoor Advertising, one of the largest independent providers of outdoor advertising in the United States. Privately-held Adams Outdoor is an operator of billboard advertising products in 12 markets across 8 states in the Midwest, Mid-Atlantic and Southeast regions of the country. The company, led…

Apollo Makes Another Non-Control Deal

Apollo Global Management will purchase $1.75 billion of convertible preferred stock of Albertsons Companies, one of the largest food and drug retailers in the United States. Albertsons has been a portfolio company of New York City-based Cerberus Capital Management since 2006. Albertsons is an operator of grocery and drug stores with more than 2,200 food…

News

Eaton: Denominator Effect Overblown

Eaton: Denominator Effect Overblown

A new report from Eaton Partners indicates that most institutional investors are remaining with their private market allocations despite increased stress from the COVID-19 pandemic. According to a recent survey,…

Aquiline Beats Target

Aquiline Beats Target

Aquiline Capital Partners has closed its fourth private equity fund, Aquiline Financial Services Fund IV LP, with more than $2 billion in commitments, exceeding its target of $1.5 billion. Aquiline’s…

Apollo Closes on New $1.75 Billion

Apollo Closes on New $1.75 Billion

Apollo Global Management has closed on $1.75 billion in commitments for Apollo Accord Fund III B LP, part of the firm’s dislocated credit strategy. Commitments for the new fund were…

Spectrum Equity Closes Fund IX at $1.5 Billion

Spectrum Equity Closes Fund IX at $1.5 Billion

Spectrum Equity has held a final close of Spectrum Equity IX LP at its hard cap of $1.5 billion. In addition, the firm closed its second Discretionary Overage Program at…

Gridiron Adds Operating Pro

Gridiron Adds Operating Pro

Gridiron Capital has added Tracy Streckenbach to its team as a new operating partner. Ms. Streckenbach will be active evaluating new business opportunities and working with portfolio company management teams…

PPC Forms Dream Team Advisory Board

PPC Forms Dream Team Advisory Board

Chicago-headquartered Pritzker Private Capital has formed the Pritzker Advisory Board and recruited eight executive leaders as its first members. Pritzker Private Capital (PPC) acquires North America-based middle-market companies that have…

Cowen Closes New Healthcare Fund

Cowen Closes New Healthcare Fund

Cowen Healthcare Investments, part of the investment management division of publicly traded Cowen, has held a final closing of Cowen Healthcare Investments III LP with $493 million of capital. The…

New Platform

Inverness Graham Buys KICTeam

Inverness Graham Buys KICTeam

Inverness Graham has acquired KICTeam, a maker of consumable products used to clean and maintain electronic devices. KICTeam specializes in the manufacture of cleaning tools, technologies, and agents…

Apax Buys Preferred Stock of KAR

Apax Buys Preferred Stock of KAR

Apax Partners has agreed to purchase $550 million of perpetual convertible preferred stock of publicly traded KAR Global. KAR Global (NYSE: KAR) operates used vehicle auctions and provides…

Carlyle Funds Adams Outdoor

Carlyle Funds Adams Outdoor

The Carlyle Group has provided a debt financing package to Adams Outdoor Advertising, one of the largest independent providers of outdoor advertising in the United States. Privately-held Adams…

Apollo Makes Another Non-Control Deal

Apollo Makes Another Non-Control Deal

Apollo Global Management will purchase $1.75 billion of convertible preferred stock of Albertsons Companies, one of the largest food and drug retailers in the United States. Albertsons has…

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