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Banks and private credit firms compete for PowerSchool buyout

Private Equity Wire

Private credit lenders and banks are vying to offer debt financing for a potential acquisition of US education software provider PowerSchool Holdings, according to a report by Bloomberg citing people with knowledge of the matter.

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Bain Capital Eyes $6bn Exit for Varsity Brands

Private Equity Insights

Bain has been interviewing investment banks to hire financial advisers that will help the private equity firm come up with a plan to cash out on its majority stake in Varsity Brands, the sources said. Varsity Spirit sells cheerleader uniforms and apparel, and also hosts educational camps, clinics and competitions.

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Top 25 Lower Middle Market Investment Banks | 2024

Axial

Axial is excited to release our 2024 Lower Middle Market Investment Banking League Tables. To assemble this list, we reviewed the deal-making activities of 400+ investment banks and advisory firms that met the qualifications to be considered for league tables last year.

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Transcript: Joe Barratta of Blackstone

The Big Picture

BARATTA: They had bought a bunch of educational publishing assets, including U.S. It is a rapidly growing economy, with a highly educated workforce, that with supply chain dynamics now moving toward Southeast Asia and India. RITHOLTZ: — firms or private equity firms? BARATTA: Yeah. So it’s been a great asset class.

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Transcript: Ken Kencel

The Big Picture

We’re going to look at a buyout and look at the pricing, look at the structure. They really weren’t in the investment banking business, and they looked at the opportunity there and said, gee, we should really have a high yield business and a financing business. KENCEL: It’s the investment banking affiliate.

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Transcript: Victor Khosla, Strategic Value Partners

The Big Picture

Let’s just start with your educational background. That whole distressed debt department at city 00:06:31 [Speaker Changed] Banks are wanting to sell? I work for a really senior guy in the investment bank. Early nineties was the start of the modern high yield leverage buyout business done at scale.

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Transcript: Steven Klinsky

The Big Picture

And what was interesting was the first leveraged buyout of a public company happened when I was in graduate school. KLINSKY: In 1979, it was the first leveraged buyout of a public company. We had sold the family business, maybe buy another family business one day through a leveraged buyout. RITHOLTZ: Oh, really? KLINSKY: Yeah.