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Levine Leichtman eyes up to $3.3bn for flagship fund. (FS)
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Clayton, Dubilier & Rice , a private equity firm, completed the acquisition of a 51% stake in the industrial businesses of Roper Technologies, Inc. , an American diversified industrial company, for $2.6bn.?
“This is the final step in Roper’s divestiture strategy to reduce the cyclicality and asset intensity of our enterprise. We have created a meaningfully enhanced and higher-quality go-forward portfolio of market-leading businesses that is better positioned to deliver higher and more resilient organic growth, an improved working capital profile, and strong cash conversion. Selling a majority interest in these industrial businesses will provide Roper with significant upfront cash, while maintaining the ability to receive additional cash proceeds from the future exit of our minority interest,” Neil Hunn, Roper Technologies President and CEO.
Clayton, Dubilier & Rice was advised by BMO Capital Markets , 法国巴黎银行 , J.P. 摩根 , 瑞穗实业银行 , Natixis Partners , RBC Capital Markets , 瑞银集团 , Debevoise & Plimpton (led by? Uri Herzberg ?and? Kevin Rinker ). Roper Technologies was advised by Evercore , 众达律师事务所 (led by? Bill Zawrotny ) and Gasthalter & Co. LP (led by? Mark Semer ). Debt financing was provided by BMO Capital Markets , 法国巴黎银行 , 瑞穗实业银行 , Natixis Partners , RBC Capital Markets and 瑞银集团 .
Sitio Royalties , a shareholder returns-driven company focused on large-scale consolidation of high-quality oil & gas mineral and royalty interests, completed the merger with Brigham Royalties , a publicly traded mineral acquisition company, in a $4.8bn deal.
"Our merger with Brigham Minerals brings together two complementary businesses that are aligned in every key way, and further advances the business plan that Sitio outlined earlier in the year following the merger of Sitio’s predecessor companies. Both companies are focused on asset quality, maintain disciplined acquisition underwriting standards, understand the benefits of scale, and prioritize shareholder alignment in our approaches to capital allocation and best-in-class governance. We have been particularly impressed with the asset portfolio that the Brigham team has built and their track record of delivering consistent results every quarter since they became public," Chris Conoscenti, Sitio CEO.
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Brigham Minerals was advised by 高盛 and Vinson & Elkins (led by? Lande Spottswood ?and? Doug McWilliams ). Goldman Sachs was advised by Cleary Gottlieb Steen & Hamilton LLP (led by?James Langston). Sitio Royalties was advised by 瑞信 , Davis Polk & Wardwell LLP and Kekst CNC . Credit Suisse was advised by Alston & Bird (led by? Stuart Rogers ).
Hitachi , a Japanese multinational conglomerate corporation headquartered in Chiyoda, Tokyo, completed the acquisition of the remaining 20% stake in Hitachi Energy , a sustainable energy firm, from 阿西布朗勃法瑞公司（ABB） , a pioneering technology company, for $1.7bn.
"We are pleased with the progress of Hitachi Energy, and we look forward to supporting the Hitachi Energy 2030 Plan, as announced during Hitachi Investor Day 2022," Yoshihiko Kawamura, Hitachi Executive Vice President and Executive Officer, CFO.
Hitachi was advised by 瑞银集团 . ABB was advised by 富而德律师事务所 (led by? Stephen Hewes ).?
MBK Partners , a private equity firm, completed the acquisition of a 99.5% stake in 美迪特 , a 3D dental scanner and solutions provider, from Unison Capital Inc. , a private equity firm, for $1.89bn.
"We have shared a common view of developing Medit into a globally renowned digital dental platform operator by building an ecosystem encompassing not just dental scanners, but medical teams, dealerships, solutions and devices. We are pleased to partner with Medit," MBK Partners.
Unison Capital was advised by 花旗 .?
Levine Leichtman eyes up to $3.3bn for flagship fund. (FS)
Levine Leichtman Capital Partners, LLC is back in the market with a seventh flagship buyout offering set to bring in $3.3bn.
At $3.3bn, Fund VII would be the largest pool in Levine Leichtman’s nearly four-decade history. It would be 32 percent larger than Fund VI, closed in 2019 at $2.5bn.
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