Private equity
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Earlier this month this publication revealed that Aquiline was seeking a buyer for Accuserve.
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Sources said the process will target buyout firms and will not be open to trade bidders.
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The deal comes after Insurvia was seeking a new sponsor.
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The PE firm put SCM up for sale last year.
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Sources said that Jefferies and Waller Helms have the mandate.
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Last year, this publication revealed Rimkus had retained JPMorgan to run a strategic process.
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TIH CEO John Howard said the deal positions TIH for continued growth.
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Last year, this publication revealed that TPA SCM and Rimkus launched sales processes.
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Overall broking M&A activity decreased to 782 takeovers from 1,031 deals in 2022.
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Sources said that the retailer will be marketed off an Ebitda of $40mn-$45mn, pointing to a potential valuation in the $650mn-$750mn range.
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The executives were speaking after Truist reported Q4 organic growth of 7.3%, accelerating from 6.3% in Q3 and 5.6% in Q4 a year earlier.
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Sources said that the likeliest path for the business now is to prepare itself for an IPO, which would probably be unfeasible before 2025.
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