Dealmaking

PE HUB First Read

First Read begins the day with news that US Steel is temporarily laying off 200 workers in Michigan, Elanco Animal Health agrees to buy Bayer's veterinary drugs in a $7.6 bln deal and Trump dismisses recession fears but floats stimulus ideas.

PE veteran André La Forge joins Champlain Financial as advisory partner

Champlain Financial Corp has recruited André La Forge as an advisory partner. La Forge joins from Entrepreneur Capital, an investor in lower mid-market opportunities in Québec and Ontario.

Centerbridge invests in GoHealth after renegotiating terms of ~$1.5 bln transaction

The previously anticipated agreement assigned GoHealth a total enterprise value of around $1.5 billion, which included a close to $1.4 billion upfront consideration and a potential earnout.

Sunny River-owned FSP buys Georgian Bay Fire & Safety

Fire Safety & Protection LLC (FSP) has acquired Georgian Bay Fire & Safety Ltd, an Owen Sound, Ontario-based life safety and property protection business. Terms weren't disclosed. Established in 1969, Georgian operates more than 60 vehicles to service fire, security and communication systems for Ontario commercial and residential customers. FSP, an Atlanta-based fire and life safety company, said the acquisition advances its goal of building a strong presence in North America. FSP was formed in 2018 by Sunny River Management, a U.S. family office private equity investor.

CalPERS hits highest PE commitment level post-GFC

The US's largest public pension made $4.3bn of commitments in the first half of the year.

Israeli autotech industry has shifted into drive

Israel’s auto tech venture ecosystem is humming and startups are on pace surpass the $527 million raised in 2017.

Blackstone’s growth unit hires ex-Navab, ex-Carlyle exec Ram Jagannath to run healthcare efforts

During his 12 years at Carlyle Jagannath worked broadly across the healthcare sector, most recently as a managing director

PE HUB Wire Highlights, 8.20.19

Who pays the adviser fee in a fund revamp?, CalPERS PE overhaul and media issues

How Gaw Capital is expanding its private equity exposure

The Hong Kong-based real estate investment firm started investing in real estate-related operating companies from its own balance sheet two years ago.

Boston’s Great Hill Partners wins auction for Pareto Captive

Pareto, which helps midsize businesses mitigate employee benefit costs, was expected to command a more than $200 million valuation.