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22/12/2023

Private equity news for the day!!!

Alteryx has agreed to be acquired by Clearlake Capital Group and Insight Partners for $4.4 billion.

Alteryx, the data platform company that helps businesses turn raw data into actionable insights, has agreed to be acquired by private equity firms Clearlake Capital Group and Insight Partners in a massive $4.4 billion deal.

This move comes after months of speculation, and investors are definitely seeing a premium - the offer represents a 49% increase over Alteryx's pre-sale market cap and 29% higher than its recent closing price.

So, what's behind the move?

Growth potential: Alteryx has steadily grown its customer base to over 8,000, including major tech players like IBM and Salesforce Its cloud-based platform simplifies data analysis by combining several tasks into one user-friendly interface.

AI focus: Alteryx is actively investing in AI to automate data analysis tasks and build custom neural networks. This aligns with industry trends and could unlock new growth opportunities.

Private equity support: Clearlake and Insight have a proven track record of taking large tech companies private and accelerating their growth. This could mean increased resources and flexibility for Alteryx to pursue its ambitions.

What does this mean for the future of Alteryx?

The company expects the deal to close in the first half of 2024, and CEO Mark Anderson believes it will "provide increased working capital, industry expertise, and the flexibility as a private company to make investments that matter most to our customers."

Overall, this acquisition suggests continued industry interest in data analytics and AI solutions. It will be interesting to see how Alteryx evolves under its new ownership.



Feel free to add your own thoughts, questions, or insights about the deal in the comments!

27/10/2023

Private equity news for the day

EngageSmart, a leading provider of vertically tailored customer engagement software and integrated payments solutions, has agreed to be acquired by Vista Equity Partners for $4.0 billion in all-cash transaction.

The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions and receipt of customary regulatory approvals. Upon completion of the transaction, EngageSmart will become a privately held company.

EngageSmart CEO Bob Bennett said that the partnership with Vista and General Atlantic will enable the company to continue investing in innovation and people to drive growth.

Vista Equity Partners Co-Head of Flagship Fund and Senior Managing Director Michael F. said that the company looks forward to working with EngageSmart as they continue to innovate, scale and empower organizations to better serve their customers.

General Atlantic Managing Director and Global Head of Financial Services sector Paul Stamas said that the company believes this transaction is compelling for stockholders, and they look forward to continued partnership with the Engage Smart team alongside Vista to build on the Company’s success to date.

Advisors: Evercore is advising the Special Committee, with legal counsel provided by Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates. Goldman Sachs is exclusively advising Engage Smart, while Paul, Weiss, Rifkind, Wharton & Garrison LLP is the legal counsel for General Atlantic. Kirkland & Ellis LLP is representing Vista Equity Partners.

Financials: The deal, with Engage Smart stockholders receiving $23.00 per share, reflects a 23% premium over the unaffected closing price on October 4, 2023. After completion, Vista and General Atlantic will hold 65% and 35% of equity, respectively. The transaction, subject to regulatory approvals, is expected to close in Q1 2024.

09/09/2023

Top ten private equity firms in the world 🌎 by AUM

🇺🇸 Blackstone - $1.0 trillion
🇺🇸 Apollo - $598 billion
🇺🇸 KKR - $510 billion
🇺🇸 The Carlyle Group - $381 billion
🇺🇸 Bain Capital - $165 billion
🇺🇸 TPG Capital - $137 billion
🇺🇸 Thoma Bravo - $127 billion
🇺🇸 Silver Lake - $98 billion
🇺🇸 Vista Equity Partners - $96 billion
🇺🇸 Insight Partners - $90 billion

Source: Forbes (Sep 1 2033)

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