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Centerbridge sells majority Ahead stake to co-investor Berkshire Partners after two years

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Centerbridge Partners has sold its majority stake in enterprise cloud services company Ahead to co-investor Berkshire Partners, just two years after buying into the business.

Financial details of the deal were not disclosed, although a report from Reuters in July said majority owner Centerbridge was prepping a sale which could value the company at more than $3bn including debt.

Centerbridge and Berkshire Partners bought Ahead from fellow private equity house Court Square Capital Partners in a $1.3bn deal in August 2020.

Berkshire Partners becomes majority owner of the business following the new deal, with Centerbridge retaining a minority stake.

A statement from Centerbridge senior managing director Jared Hendricks and managing director Chris Litchford said, “The Ahead team has performed phenomenally during our time working together.

“We are gratified by the significant value creation that has occurred through our partnership with the Ahead team since investing in 2020 and look forward to continuing as an investor in the business.”

Ahead specialises in software and data engineering focused on modernising enterprise infrastructure.

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