Value Add

Private equity operators on the move this week.  👏👏 Luke Zaientz has joined VC firm Rally Ventures as an operating partner. Previously, he was the chief strategy officer for IMG Academy, which was sold to PE firm EQT for $1.3 billion. Ardian has hired two new operating partners: Helen Lee Bouygues, a former McKinsey partner who has worked on more than 25 business transformation projects, and Richard Wolman who has spent 30+ years working with PE firms on operating models. Derek Wenger joined Craft Equity as an operating partner and head of transformation. Previously, he worked at the consultancy Kearney. Follow for more PE operations insights at www.ValueAddPE.com

The #BankofJapan's pivot to raise #interestrates could put an end to a four-year rally in #PE #buyout activity in #Japan. https://lnkd.in/eQDdNzVd

TowerBrook Capital Partners L.P. has finished a months-long battle with New Mountain Capital to #takeprivate their shared asset, R1 RCM, for a whopping $8.9 billion #jointventure with Clayton Dubilier & Rice. Plus: Sixth Street acquires Enstar Group, Apollo Global Management, Inc. takes U.S. Silica Company private, and #PE firms hold onto #tech assets for longer periods. Read more in our weekly briefing:

#Privateequity involvement in #healthcare has been controversial for many operational reasons — we can now add #digitalinnovation to the list. By Isabel O'Brien with insights from Duff Bourassa, MBA of E78, Todd Zigrang of Health Capital Consultants, and more. #cybersecurity #ransomware #cyberattacks #consolidation #datasecurity

Apollo Global Management, Inc. is betting on #gaming again — is the $6.3B #deal gambler’s fallacy, or will the firm learn from its past mistakes? Read more in this week’s briefing:

2024 has seen a renewed interest in #midmarket #PE deals. Successful post-facto value creation, though, will rely on buyout firms’ ability to navigate #humancapital needs. by Isabel O'Brien with insights from BluWave, LP; Kyle Johnson; National Center for the Middle Market; Rede Partners LLP; and AlixPartners. #valuecreation #dealmaking #duediligence

This week's #briefing: KKR is reducing its stake in Japanese #semiconductor manufacturer Kokusai Electric. Also, Platinum Equity to acquire Héroux-Devtek, Qatalyst Partners seeks buyer for $6.6 billion Smartsheet, and Madison Dearborn Partners, LLC exits LinQuest. Read more ⬇

In our latest private equity case study, we examine the operational improvements Blackstone implemented after Catalent's $3.3 billion carve-out from Cardinal Health. The company was recently acquired by Novo Holdings for $16.5 billion. Read: https://lnkd.in/eYUfcdfG

It's been a rough few years for Envestnet, but Bain Capital and Reverence Capital see a path to growing the fintech company through M&A. Read this week's briefing: https://lnkd.in/efRV-F-J

“Not all capital is created equal." Casey Myers, partner at Edison Partners, spoke with Value Add's Isabel O'Brien about using an operations platform to differentiate the PE firm in the lower middle-market. Subscribers can read here: https://lnkd.in/eTQT8y8r