Vacation rental management company Vacasa said on Thursday it plans to list on the Nasdaq through a merger with a blank-check firm backed by private equity giant TPG, in a deal that gives Vacasa an equity valuation of $4.5bn.
The deal with TPG Pace Solutions Corp will result in cash proceeds of nearly $485 million for Vacasa.
Founded in 2009, Vacasa lists, cleans and manages homes on sites such as Airbnb Inc, as well as on its own platform. Vacasa’s investors include Silver Lake and Riverwood Capital.
Subscribe to our Newsletter to increase your edge. Don’t worry about the news anymore, through our newsletter you’ll receive weekly access to what is happening. Join 120,000 other PE professionals today.
SPACs are special purpose acquisition companies that use money raised through an initial public offering to take a private company public.
On closing of the deal, Vacasa will trade under the symbol “VCSA”.
Source: Reuters
Can’t stop reading? Read more
Carlyle and Goldman Sachs open private credit funds to Willow users with $10,000 minimum
Carlyle and Goldman Sachs open private credit funds to Willow users with $10,000 minimum Carlyle,...
EQT, PAI, and Stone Point shortlisted for €2bn takeover of Castik-backed Global Group
EQT, PAI, and Stone Point shortlisted for €2bn takeover of Castik-backed Global Group EQT, PAI...
CAIS Advisors unveils retail vehicle giving investors a stake in elite sports and media
CAIS Advisors unveils retail vehicle giving investors a stake in elite sports and media Eldridge...