Deal Cover: TPG and Francisco acquire New Relic; The Elanders agree to buy Kammac
Deal cover is updated as of 4pm ET.
– TPG Capital LP and Francisco Partners Management LP have completed the all-cash acquisition of monitoring platform New Relic Inc. For $87.00 per share, representing a stock valuation of approximately $6.5 billion. Catalyst Partners was financial advisor to New Relic, and Latham & Watkins LLP was legal advisor. Morgan Stanley & Co. LLC is the lead financial advisor to Francisco Partners and TPG. Goldman Sachs & Co. also LLC, JP Morgan Securities LLC and Moelis & Co. advised the companies. Davis Polk & Wardwell LLP, Paul Hastings LLP and Kirkland & Ellis LLP were legal advisors to Francisco Partners and TPG.
– Nordic Capital has agreed to purchase a majority stake in IntegriChain Inc., which provides pharmaceutical technology, data, consulting and outsourcing solutions, from Accel-KKR LLC. The deal is expected to close before the end of the year. Morgan Stanley & Co. LLC and Harris Williams LLC are the financial advisors to IntegriChain, while Evercore is the financial advisor to Nordic Capital.
– Elanders AB has agreed to acquire all shares of contract logistics company Kammac Ltd. The purchase price will be paid in two parts: one at the time of acquisition and the other as dividends in 2025. Among the sellers is Pi Labs (Manager) Ltd. Clean Growth Investment Management and Kiilto Ventures, according to S&P Global Market Intelligence data.
– SAP SE has completed the acquisition of LeanIX GmbH, an enterprise architecture management platform. The sellers include Insight Venture Management LLC, Iris Capital Management SAS, Founder.org, Capnamic Ventures Management GmbH and Deutsche Telekom Capital Partners Management GmbH, according to S&P Global Market Intelligence data.
– Clas Ohlson AB (publ) has completed the acquisition of Spares Nordic AB, which provides parts and accessories for electronics, from Verdane, according to data from S&P Global Market Intelligence.
– Pamlico Capital Management LP announced a strategic growth investment in Beck Technology Ltd., a pre-construction platform for contractors. President Stuart Carroll, CTO Mike Boren and the rest of the Beck Technology management team as well as founder and Chairman Peter Beck will retain ownership in the company. Shea & Co. She is the exclusive financial advisor to Beck Technology.
Actuarial consulting firm Lewis & Ellis Inc. Partnered with Novacap to support its strategic growth and innovation initiatives. Piper Sandler & Co. is the exclusive financial advisor and Faegre Drinker Biddle & Reath LLP was legal advisor to Lewis & Ellis. Foley & Lardner LLP provided legal advice to Novacap.
– Macquarie Capital Principal Finance has agreed to acquire Camin Cargo Control Holdings Inc, a provider of independent testing, inspection and certification services for the energy industry, from Metalmark Capital. The deal is expected to close by the end of the year. Kirkland & Ellis was the legal advisor and Strata Partners was the financial advisor to Macquarie Capital Principal Finance.
For more private equity deals, read our latest In Play report, which looks at potential private equity-backed mergers and acquisitions, including rumored transactions, each week.