The Carlyle Group Inc. Stock Price, News & Analysis

Involta announced the appointment of Gary Wojtaszek to its Board of Directors following the company's acquisition by Carlyle (NASDAQ: CG). Wojtaszek brings extensive experience in the data center and technology sector, previously leading CyrusOne during significant growth. Involta plans to leverage his expertise to expand its data center services and enhance its operational capabilities. Under the board's guidance, Involta aims to address the increasing digital infrastructure demands of enterprise clients across the nation.

Truist Insurance Holdings, a subsidiary of Truist Financial Corporation (NYSE: TFC), announced its acquisition of BenefitMall, the largest benefits wholesale general agency in the U.S., from Carlyle (NASDAQ: CG). This strategic move will add approximately $150 million in annual revenue to Truist's wholesale division. The acquisition aims to diversify client solutions and enhance the overall client experience. The deal is expected to close in Q3 2022, pending customary conditions. BenefitMall, with over 40 years of experience, serves more than 140,000 businesses across the country.

The Carlyle Group (Nasdaq: CG) announced the departure of CEO Kewsong Lee as part of a mutual agreement with the Board, effective August 7, 2022. Bill Conway, co-founder and Non-Executive Co-Chairman, will serve as Interim CEO while a search committee seeks a permanent successor. The company emphasized its strong position with $376 billion in assets under management and reaffirmed its 2022 Fee Related Earnings target of $850 million. The transition aims to maintain momentum and enhance value for shareholders amidst macroeconomic challenges.

On August 1, 2022, White Mountains Insurance Group (NYSE: WTM) announced the completion of its sale of NSM Insurance Group to investment funds affiliated with Carlyle (NASDAQ: CG). This strategic move indicates a focus on optimizing its portfolio, although the company remains in a quiet period before releasing its second-quarter earnings. The transaction's details, including financial terms, were not disclosed, but it reflects White Mountains' ongoing efforts to enhance its market position.

Unison, a prominent provider of procurement and contract management software, is set to receive a majority investment from Madison Dearborn Partners (MDP). This investment will facilitate Unison's growth and software innovation in the government contracting sector. Existing investor Carlyle will sell its majority stake but will maintain a minority position. With over 200,000 end users, Unison serves all 15 U.S. cabinet-level agencies. The transaction is expected to close in Q3 2022, positioning Unison for accelerated development in federal government software solutions.

Abrigo has appointed Ravi Nemalikanti as its new Chief Technology Officer, effective immediately. He will guide the company's technology strategy and product development priorities. Nemalikanti's prior experience includes leading digital banking at NCR Corporation and a 14-year tenure at Thomson Reuters, where he held leadership roles across various sectors. His appointment aims to enhance Abrigo's innovative capabilities and competitive advantage in the financial technology sector, serving over 2,300 financial institutions in the U.S.

GTCR-backed Resonetics acquires Agile MV, enhancing capabilities in medical device development.

The acquisition aligns with Resonetics' strategy to lead in micro-manufacturing for interventional medical devices. Agile specializes in the rapidly growing electrophysiology and interventional cardiology markets. This marks Resonetics' tenth acquisition since GTCR's investment in 2018, reflecting a commitment to expanding capabilities and serving interventional medical device companies effectively.

CNSI has announced the formation of a new Board of Directors following its acquisition by Carlyle (NASDAQ: CG) in December 2021. The board includes industry experts like Donna Morea (Chair), Lawrence B. Prior III, Penny Thompson, and Tom Weston, who bring extensive experience in government technology and healthcare. CEO Todd Stottlemyer expressed optimism about leveraging this expertise to enhance CNSI's market position and accelerate key investments for state and federal healthcare clients.

AZZ Inc. has completed its acquisition of Precoat Metals, a division of Sequa Corporation, for approximately $1.28 billion. Precoat is a leading provider of metal coil coating solutions in North America, generating $700 million in sales and $137 million in adjusted EBITDA for the year ending December 31, 2021. This acquisition strengthens AZZ's position in the coatings market, expected to drive growth and profitability as they integrate Precoat into their operations. The move aligns with AZZ's strategy to expand their metal coatings offering and enhance operational scale.