TPG Growth Closes First Defense-Related Deal
Last week, TPG Growth, along with Torch Hill Investment Partners, acquired ARTEL, a communications and IT services company. Financial terms of the deal weren't announced. The seller is Abbas Yazdani, ARTEL's founder, president and CEO, who will retain a significant minority stake, sources say. TPG led the investment but it's unclear how big their holding is. Torch Hill will have a minority position, persons say. Yazdani is staying as CEO of the company. The deal closed last Wednesday. RBC Capital Markets is leading a $95 million facility to back TGP/Torch Hill's buy of ARTEL, according to Standard & Poor's LCD.
6 June 2011•2 mins read
