Sat.Oct 14, 2023 - Fri.Oct 20, 2023

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Valuation Disconnects Driving a Spike in Earnouts

Private Equity Professional

Amid a material drop in deal volume, the 2023 private M&A market is seeing more and bigger earnouts. Earnouts can help bridge valuation gaps as strategic buyers get more active. Higher interest rates and uncertainty over future Fed rate increases are key drivers in the disconnect of valuation expectations. The 2023 M&A market to date… This content is for members only.

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Why Solar Power Stocks Flamed Out on Friday

The Motley Fool

Bad news that led to a massive sell-off in shares of solar power inverter manufacturer SolarEdge (NASDAQ: SEDG) also burned investors in related solar power stocks Friday. Through 11:35 a.m., solar power installers Sunrun (NASDAQ: RUN) , Sunnova Energy International (NYSE: NOVA) , and SunPower (NASDAQ: SPWR) were down 9.4%, 11.1%, and 13.4%, respectively.

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MPE Partners invests in fasteners manufacturer Mid-States

PE Hub

Mid-States was founded in 1973. The post MPE Partners invests in fasteners manufacturer Mid-States appeared first on PE Hub.

Investing 234
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KKR-backed Crosby Merges with Kito to Form New $1bn Brand

Private Equity Insights

US based lifting tackle, equipment and accessories manufacturer Crosby has announced that the company will adopt the Kito Crosby brand as it merges the Crosby business with Kito, which it acquired last May. The merger was transacted by a cash tender offer by Crosby for all 21 million shares in Kito for $21 per share -a total of $442m, which represents a premium of 64.3 percent over the closing price and a 61 percent premium.

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Stop Betting Against America

A Wealth of Common Sense

There’s this guy on Twitter, Paul Fairie, who does these threads using old newspaper clippings to show how the stuff we worry about today is the same stuff people have been worrying about for decades. There was one called a brief history of we are raising a generation of wimps. Every older generation thinks this (and will always think this…it’s called progress).

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A Famed Gymnast Is Crowdfunding to Pay Her Medical Bills. Here's How to Secure Affordable Health Insurance and Avoid That Fate

The Motley Fool

Image source: Getty Images In the 1980s, Mary Lou Retton was a household name. The star gymnast was a member of the U.S. Olympic team, and in 1984, she took home a gold medal for her performance in the all-around competition. You'd think someone in that position wouldn't have to worry about covering their bills in the event of a hospital stay. But Retton is 1 of 25.3 million Americans who unfortunately don't have health insurance.

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CVC Capital Partners in Talks to Buy European Payments Firm Nexi for $9.4bn

Private Equity Insights

Nexi SpA jumped as much as 19% after people with knowledge of the matter said CVC Capital Partners is in the early stages of considering a potential bid for European payments firm. The buyout group has been evaluating Nexi for some time, the people said, asking not to be identified because the information is private. Shares in Nexi hit an intraday record in early trading on Wednesday.

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More than 50,000 companies to report climate impact in EU from 2024 after pushback fails

Financial Times: Moral Money

Rightwing attempt to block the adoption of new sustainability rules is voted down

Companies 145
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Why Okta Stock Got Crushed Friday

The Motley Fool

Shares of Okta (NASDAQ: OKTA) slumped on Friday, losing as much as 13.9%. By the time the market closed, the stock was still down 11.64%. The catalyst that sent the cybersecurity specialist lower was reports that a hacker had -- once again -- infiltrated its system. How hackers gained access In an alert posted on its website, Okta revealed that an unidentified hacker (or group of hackers) had gained access to files "certain Okta customers" had uploaded to the company's support system.

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FVLCRUM snaps up tech systems integrator AITC

PE Hub

Womble Bond Dickinson served as legal counsel to FVLCRUM on the transaction. The post FVLCRUM snaps up tech systems integrator AITC appeared first on PE Hub.

Legal 227
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Bad Returns in the Market Aren’t Always Bad

A Wealth of Common Sense

The tax man Bill Sweet joined me on today’s show again to answer questions about expected returns in the stock market, changing income brackets and your finances, getting a late start on tax-deferred savings and borrowing from your portfolio. The post Bad Returns in the Market Aren’t Always Bad appeared first on A Wealth of Common Sense.

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What Else Might be Driving Sentiment?

The Big Picture

One of my favorite responsibilities as chief investment officer at Ritholtz Wealth Management is the quarterly conference call I do for our clients. I run through 30 charts in 30 minutes that explain where we are in the economic cycle, what markets are doing, and what it means to their portfolios. I like to finish with a thought-provoking, often “investing-adjacent” idea they might not have previously considered.

Education 140
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1 AI Stock to Buy and Forget

The Motley Fool

One of the biggest trends in recent years is the proliferation of artificial intelligence (AI), creating new opportunities for savvy investors to ride on for the next few years. But not all opportunities are created equal, and the casualties of AI companies will be high. Thus, investors should be cautious with their investment choice in this area, focusing solely on companies best positioned to win in the long run.

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Providence Equity-backed KPA snaps up dealer compliance software firm ComplyNet

PE Hub

KPA is a provider of environmental health and safety and sales finance and insurance solutions. The post Providence Equity-backed KPA snaps up dealer compliance software firm ComplyNet appeared first on PE Hub.

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Bain Capital’s ambitions to create US-Japan chip champion in jeopardy

Financial Times M&A

Kioxia and Western Digital merger opposed by South Korean chipmaker SK Hynix

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The Worst Case Scenario For the Housing Market

A Wealth of Common Sense

People have been predicting a housing market crash ever since prices took off like a rocketship early in the pandemic. Housing is a bubble! Just wait for all of the Airbnb hosts that are forced to sell! Rising mortgage rates mean housing has to crash! It’s the big short all over again! Who knows maybe housing prices will fall or even crash eventually.

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Why Virgin Galactic Stock Dropped Friday Morning

The Motley Fool

Shares of Virgin Galactic (NYSE: SPCE) tumbled 2.9% through 10 a.m. ET on Friday after Truist cut its price target on the space tourism stock by two-thirds -- from $3 all the way down to just $1 a share. In a note this morning, The Fly described Truist's move as mere collateral damage from the bank's broader feeling that aerospace stocks are being stressed and that airplane production this year is looking about 7% weaker than predicted.

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Hastings Equity expects to make add-on deals for utility consulting group Celerity

PE Hub

Hastings acquired Celerity Consulting Group in 2021 and added on Clear Path earlier in 2023. The post Hastings Equity expects to make add-on deals for utility consulting group Celerity appeared first on PE Hub.

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Japan’s acute labour shortages fuel a long-awaited domestic consolidation

Financial Times M&A

A series of so-called ‘acqui-hires’ are a sign of changing dynamics in Japanese dealmaking

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The Price of Success

A Wealth of Common Sense

Like many retirees, Henry Flagler decided to spend his later years on the sunny beaches of Florida. However, Flagler wasn’t there to relax and drink Pina Coladas. No, the former oil tycoon was there to build up the coastlines, railroads, and cities before Florida was even a destination. Flagler was a partner of John Rockefeller’s at Standard Oil.

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2 Stocks to Buy and Hold Forever

The Motley Fool

"In fact, when we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever." -- Warren Buffett The advantage of holding a stock forever is the uninterrupted growth of the stock's value over many decades. And if you buy a stock with the intention of holding it forever, you're naturally going to invest in a company you like.

Financing 246
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LMP invests in medical billing service ACU-Serve

PE Hub

Jim Knight, founder and CEO of ACU-Serve, will continue to lead ACU-Serve. The post LMP invests in medical billing service ACU-Serve appeared first on PE Hub.

Investing 216
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Dollars Are For Spending & Investing, Not Saving

The Big Picture

“I need the US Dollar to be a store of value between the time I make it until I spend it, invest it, pay my taxes with it, or give it away. It does that splendidly.” 1 Today, we’re going to look at a perennial (un)favorite #chartfail. To be more precise, I want to discuss the type of chart that reflects a fundamental misunderstanding of the nature of money, currency, spending, investing, and taxes.

Investing 136
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Quadria Capital Raises $500m for Third Healthcare Fund

Private Equity Insights

Singapore- and New Delhi-based private equity firm Quadria Capital has marked the first close of its third investment vehicle. The healthcare-focussed investor hit the close at approximately 60% of the base amount of $800m, it said in a statement on Wednesday. Quadria has a hard cap of $1bn for this vehicle. It has raised about $480-$500m so far. It had received commitments from both existing and new investors that include institutional investors, insurance and pension funds, development finance

Capital 130
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Tesla Earnings: 7 Metrics You Should See

The Motley Fool

Tesla (NASDAQ: TSLA) stock is down 3% in after-hours trading on Wednesday as of 6:13 p.m. ET, following the electric-vehicle (EV) pioneer's release of its third-quarter 2023 results. The stock's decline is largely attributable to the fact that the quarter's revenue and earnings both missed Wall Street's consensus estimates. The following is an overview of Tesla's third quarter, centered on seven key metrics. 1.

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Stengel Hill Architecture secures investment from Godspeed

PE Hub

FMI Capital Advisors and Fultz Maddox Dickens PLC provided legal advice to SHA while Latham & Watkins LLP acted as legal advisor to Godspeed Capital. The post Stengel Hill Architecture secures investment from Godspeed appeared first on PE Hub.

Legal 213
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What You Need to Earn to Own a Home

The Big Picture

click for ginormous chart While I am wrapped up working on a few projects today, I wanted to share this map/chart/table showing US real estate prices relative to income. A lot of factors drive home prices — available supply, mortgage rates, inflation, salary/income growth, demand, etc. Its not as simple as many make it out to be. It has also become obvious that the big shortage of single-family homes housing prices has kept prices elevated (although there are some signs that some aspiratio

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EQT explores $2.1bn sale of data management firm Rimes

Private Equity Insights

EQT AB has chosen Evercore Inc. to help with a potential sale of data management company Rimes Technologies, people with knowledge of the matter said. The Swedish investment firm and its adviser are working to gauge interest in Rimes, which could be valued at as much as $2.1bn, according to the people. A formal sale process could kick off early next year, they said.

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1 Excellent Retirement Savings Account You'll Wish You'd Opened Sooner

The Motley Fool

Are you one of the millions of U.S. residents doing some sort of side work to supplement your regular income? Or perhaps a "gig" job is your primary source of income. Maybe you're a contractor with just one customer. Nearly half of all Americans are doing something on the side to make extra money. And it's important to understand this alternative employment doesn't exclude you from retirement savings options that most conventional corporate employees have.

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Ardian’s Audiotonix eyes large add-ons; RedBird-backed Obra attracts Aquarian investment

PE Hub

Godspeed Capital invests in an architecture and interior design firm. The post Ardian’s Audiotonix eyes large add-ons; RedBird-backed Obra attracts Aquarian investment appeared first on PE Hub.

Investing 213
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Graycliff Hits Fund V Hardcap

Private Equity Professional

Graycliff Partners has closed the firm’s fifth lower middle market private equity fund, Graycliff Private Equity Partners V LP (Fund V). The firm’s new fund was oversubscribed and closed at its hard cap of $600 million in limited partner commitments in a single closing and included significant additional capital commitments from Graycliff’s partners and employees… This content is for members only.

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Blackstone, Brookfield,KKR & Antin Vie for Partners Group $9.5bn Stake in Techem

Private Equity Insights

Brookfield Infrastructure Partners and Antin Infrastructure Partners are among several bidders vying for a stake in German metering firm Techem, four people familiar with the matter told Reuters. Private equity fund Partners Group wants to sell its majority stake for as much as $9.50bn, but offers may be closer to 7bn euros, the people said, speaking on condition of anonymity.

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Tesla (TSLA) Q3 2023 Earnings Call Transcript

The Motley Fool

Image source: The Motley Fool. Tesla (NASDAQ: TSLA) Q3 2023 Earnings Call Oct 18, 2023 , 5:30 p.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Elon Musk [Audio gap] ramp-up of new factories, and we believe there's still meaningful room for improvement there. Regarding Autopilot and AI, our vehicle has now driven over 0.5 billion miles with FSD beta, full self-driving beta, and that number is growing rapidly.

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PE-backed Mercer Advisors buys wealth management firm Kingfisher Capital

PE Hub

Based in Denver, Mercer Global Advisors is a wealth management firm. The post PE-backed Mercer Advisors buys wealth management firm Kingfisher Capital appeared first on PE Hub.

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