PE Today: CVC Exits Theramex, Estancia Invests in Financial Services

Read the top headlines from Monday, March 28, 2022 below:

CVC Capital Partners Exits Theramex with Sale to Carlyle and PAI

CVC Capital Partners is exiting women’s health business Theramex with a sale to Carlyle Group and PAI Partners, according to reports. The buyers did not disclose financial terms of the deal, though previous reports in Bloomberg said Carlyle and PAI were nearing a $1.4 billion deal. CVC first acquired the business in 2017 from Teva Pharmaceutical Industries, later rebranding it to Theramex. PAI, based in Paris, said it plans to help drive “organic and inorganic growth initiatives” with Theramex, while Carlyle said it would support the business’s global expansion.

Estancia to Take Majority Stake in Combined R&T, TBS Entity

R&T, which provides deposit and liquidity solutions to financial intermediaries, and TBS, a financial technology firm servicing banks, have reached an agreement to merge, and private equity firm Estancia Capital Partners will hold majority ownership in the combined entity. Estancia first invested in R&T in 2021, which “inspired both management teams to discuss the strategic possibilities of combining companies and capitalize on compelling market opportunities by providing even more services to the combined firms’ clients,” according to Estancia co-founder and managing director Takashi Moriuchi.

Freshfields Advises H.I.G. WhiteHorse on Acquisition Financing for Waterland

Freshfields Bruckhaus Deringer is advising H.I.G. WhiteHorse on acquisition financing it is providing to Waterland Private Equity for its investment in the RUF Group, according to an announcement by Freshfields. The RUF Group is a Germany-based bed supplier. Waterland is acquiring two of its brands, RUF|Betten and BRUNO, from their current owner NORD Holding. Waterland said it aims to fuel further growth via strategic acquisitions.