M&A

Journalist Megan Greenwell — who is writing a book on private equity for Dey Street Books titled VAMPIRE COUNTRY — interviews KKR’s co-head of global private equity Pete Stavros on the firm’s pending acquisition of Simon & Schuster. In contrast to facile clickbait like the Atlantic’s recent piece, Greenwell gets details from Stavros about KKR’s expectations, and the workings of their employee ownership plan. Broadly, Stavros says, “We would not invest in a company where the strategy is to get profit dollars up by firing people. We just wouldn’t do that…. we’re not buying into an investment thesis where we’re […]

The planned sale of RBmedia by KKR to H.I.G. Capital closed last week. In the announcement, it was disclosed that another tech-focused private equity firm, Francisco Partners, had “partnered” with H.I.G. Capital in the purchase. Francisco Partners executives Matt Spetzler and Jason Brein said in the release: “We are excited to partner with H.I.G. to help usher in RBmedia’s next phase of growth as the audiobook industry continues to expand. Francisco Partners has extensive experience in audio and content publishing, technology and media and we believe audiobooks are at a positive inflection point. Working together, our capital and operating insights […]

In alignment with previous news reports, private equity firm TPG will exit their 13-year involvement at CAA in a deal to sell their 53 percent stake to Artemis, the Pinault family’s investment company. (According to earlier reports, the deal is worth approximately $7 billion.) The transaction is expected to be completed later this year, “subject to the satisfaction of customary closing conditions.” CAA’s leaders Bryan Lourd, Kevin Huvane, and Richard Lovett have “each made long-term commitments to continue leading the agency and will remain” as co-chairs. After the deal closes, Lourd is expected to be named CEO. Singapore-based investment firm […]