The Private Equity World in 2024: A Deep Dive into the Latest Take-Private Deals
In 2024, the private equity landscape has been bustling with activity, providing a lucrative source of liquidity for technology startups and scale-ups seeking an exit strategy. Recent reports by TechCrunch have highlighted some significant take-private deals that have been reshaping the market. Let's delve into some of the most notable transactions that have taken place so far this year.
1. Adevinta: $13 billion
Adevinta, a Norwegian media group that spun out its classifieds platform as a standalone business, was acquired by private equity firms Permira and Blackstone for a whopping $13 billion. This deal closed in May, marking a significant move in the private equity space.
2. Smartsheet: $8.4 billion
Enterprise software company Smartsheet, which saw a resurgence in its market value after a rough patch, was taken private by Vista Equity Partners and Blackstone for $8.4 billion. The acquisition is expected to conclude by the end of the fiscal year.
3. Squarespace: $6.9 billion
UK-based private equity firm Permira acquired website builder Squarespace in an all-cash deal valued at $6.9 billion. The proposed take-private deal is set to close in the fourth quarter of 2024.
4. Nuvei: $6.3 billion
Canadian fintech company Nuvei entered into an agreement to be taken private by Advent International for $6.3 billion. This deal is expected to close by late 2024 or early 2025.
5. PowerSchool: $5.6 billion
K-12 education software provider PowerSchool is being taken private by Bain Capital in a $5.6 billion transaction. The deal is set to conclude in the second half of 2024.
6. Darktrace: $5.3 billion
UK cybersecurity giant Darktrace is set to go private in a $5.3 billion deal led by Thoma Bravo. The acquisition is expected to close by the end of 2024.
7. Alteryx: $4.4 billion
Data analytics software provider Alteryx was taken private in a $4.4 billion deal by Clearlake Capital Group and Insight Partners. The transaction closed in March 2024.
8. EngageSmart: $4 billion
Customer engagement software provider EngageSmart was acquired by Vista Equity Partners for $4 billion. The deal closed in January, with EngageSmart now undergoing a rebranding.
9. Rover: $2.3 billion
Pet-sitting marketplace Rover was acquired by Blackstone for $2.3 billion, marking a significant move in the pet industry. The transaction closed in February.
10. Everbridge: $1.8 billion
Critical event management software company Everbridge was acquired by Thoma Bravo for $1.8 billion. The deal concluded in July, making Everbridge a private entity once again.
In conclusion, these take-private deals are reshaping the private equity landscape in 2024, with significant investments being made in technology, cybersecurity, education, and customer engagement sectors. These transactions can have a significant impact on the companies involved, their shareholders, and the broader market. As an investor, staying informed about such deals can help you make informed decisions about your investment portfolio.