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Blackstone to sell Japan supplement maker Alinamin to MBK for $2.2bn. (FS)
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Blue Owl Capital , an alternative asset management firm, completed the acquisition of Kuvare Holdings , a boutique investment management firm, for $1bn.
"The creation of Blue Owl Insurance Solutions represents a significant moment in Blue Owl's journey. Our acquisition of KAM allows us to provide broader solutions to the multi-trillion-dollar insurance market at scale. KAM's capabilities in investment grade credit and real estate strategies supplement Blue Owl's existing strength in these asset classes and further accelerate our ability to bring differentiated products and strategies to the market for Kuvare and third-party insurance clients," Doug Ostrover, Blue Owl Co-CEO.
Blue Owl Capital was advised by Ardea Partners , BMO Capital Markets , Bank of America , Deutsche Bank , Goldman Sachs , Greenhill & Co. , Mizuho , Morgan Stanley , PJT Partners , Truist Securities and Kirkland & Ellis . Kuvare was advised by J.P. Morgan , RBC Capital Markets and Sidley Austin LLP .
Thoma Bravo , a software investment firm, completed the acquisition of Everbridge , a provider of critical event management and national public warning solutions, for $1.8bn.
“This is an exciting step forward for Everbridge and we are thrilled to begin our next chapter alongside Thoma Bravo. We share a common vision for the future of Everbridge that we expect will see us strengthen and grow our platform, further enable product innovation and invest in our talented team. As part of Thoma Bravo, we believe we will be better able to advance our mission of helping our customers navigate an increasingly complex threat landscape and drive accretive, long-term growth for our company,” David Wagner, Everbridge President and CEO.
Everbridge was advised by Qatalyst Partners , Cooley LLP (led by Kevin Cooper and Jamie Leigh ) and Joele Frank (led by Daniel Katcher ). Thoma Bravo was advised by Kirkland & Ellis (led by Cole Parker, Corey Fox , Brad Reed and Jeremy Mandell ) and FGS Global (led by Elizabeth Micci ).
Sentinel Capital Partners , a private equity firm, completed the acquisition of Industrial Fire business of Carrier HVAC , a provider of innovative heating, ventilating and air conditioning (HVAC), refrigeration, and fire & security technologies, for $1.42bn.
"We continue to make great progress on our planned business exits, with today marking the second completed sale of Carrier's portfolio transformation process. We expect to close the Commercial Refrigeration sale by the end of the third quarter of this year, and the sale process of Commercial and Residential Fire is progressing as expected. I want to extend my personal thanks to the Industrial Fire employees for their contributions to the business and our customers over the years," David Gitlin, Carrier Chairman & CEO.
Sentinel Capital Partners was advised by Citi and CMS (led by Johan Svedberg). Carrier was advised by Goldman Sachs , J.P. Morgan , Linklaters (led by Anna Mitchell ).
Aquiline , a private equity firm, completed the acquisition of a majority stake in Isio , a provider of actuarial & consulting, pensions administration, investment advisory, employee reward and benefits and wealth advisory services, from Exponent, a private equity firm. Financial terms were not disclosed.
"Isio is a business we have admired and got to know well, not simply as an investment, but first as our advisor and then our partner. We have been particularly impressed by the depth of their expertise in creating better outcomes for clients. It has delivered impressive organic growth and successful expansion through strategic M&A. We look forward to working with Isio's management team to continue to develop their offering, diversify the business, and support them in further accelerating growth," Igno van Waesberghe, Aquiline Managing Partner.
Aquiline was advised by RBC Capital Markets and Herbert Smith Freehills . Exponent was advised by Evercore and Macfarlanes . Isio Group was advised by Liberty Corporate Finance , Proskauer Rose LLP , Macfarlanes (led by Alex Edmondson ) and Evercore .
Blackstone to sell Japan supplement maker Alinamin to MBK for $2.2bn. (FS)
Private equity firm Blackstone is nearing a deal to sell Japanese supplement maker Alinamin Pharmaceutical Co., Ltd. to North Asian buyout fund MBK Partners for JPY350bn ($2.17bn), Reuters reported.
The acquisition represents a strategic step for MBK Partners to enhance its presence in the pharmaceutical sector across Asia. MBK Partners plans to increase Alinamin's value using its experience in consumer goods.
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