Providence beats out PE major rivals in talks for €1.4bn A2Mac1 buyout


Providence Equity Partners has reportedly entered exclusive talks to buy French automotive data firm A2Mac1 in a €1.4bn deal, beating out interest from a pair of fellow private equity majors.

The prospective deal comes five years after Rothschild’s European private equity arm Five Arrows Principal Investments bought the company in a deal worth over €200m.

EQT and TA Associates have also been in the running to buy the company from Five Arrows, Reuters said, citing two unnamed sources.

It added that Five Arrows would keep a minority stake in A2Mac1 following the proposed deal.

A2Mac1 provides vehicle data and analysis tools and benchmarking services to the car industry.

Reports emerged late last year that Providence was heading back into the fundraising market eyeing up to $6bn for its latest flagship fund.

Providence raised more than $6bn for the final close of its eighth flagship fund three years ago, above its $5bn target.

The firm had previously raised $12bn raised for its sixth fund in 2006, near the height of the private equity buyout boom before the onset of the global financial crisis squeezed fund sizes.

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