American Securities, a New York-based private equity firm with over $27bn in AUM, has acquired NWN Carousel, a provider of cloud communications services, from middle market private equity firm New State Capital Partners.
Financial terms of the transaction have not been disclosed.
New State first invested in NWN Carousel in 2015. Under New State’s ownership, the provider tripled gross revenue to over $900m and was included in Inc 5000’s annual list of fastest growing private companies in the US for 2022 and 2023. According to a press release, NWN Carousel supports thousands of CIOs and IT leaders across the public and private sector to deliver hybrid workplace solutions for their employees through its integrated service offerings and proprietary Experience Management Platform.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Jefferies acted as financial advisor and Kirkland & Ellis served as legal counsel to American Securities. Harris Williams acted as financial advisors and Morgan, Lewis & Bockius served as legal counsel to NWN Carousel and New State.
Source: Private Equity Wire
Can’t stop reading? Read more
Blackstone consortium tables bid for $1.5bn UK aerospace supplier Senior
Blackstone consortium tables bid for $1.5bn UK aerospace supplier Senior Blackstone has joined a...
Neuberger Berman leads $500m Nvidia-backed Ayar Labs round at $3.75bn valuation
Neuberger Berman leads $500m Nvidia-backed Ayar Labs round at $3.75bn valuation Neuberger Berman...
Capital Group and KKR expand public-private push with first equity strategy
Capital Group and KKR expand public-private push with first equity strategy Capital Group and KKR...