Welcome to our dedicated page for The Carlyle Group news (Ticker: CG), a resource for investors and traders seeking the latest updates and insights on The Carlyle Group stock.
The Carlyle Group Inc. reports developments as a global investment firm that deploys private capital through Global Private Equity, Global Credit, and Carlyle AlpInvest. Company news commonly covers financial results, fee-related earnings, fundraising, inflows, distributable earnings, shareholder updates, capital allocation, and share repurchase activity.
Carlyle updates also include partnerships that broaden private-market access for wealth and retirement channels, activity involving private equity, credit, real estate, and infrastructure strategies, and financing or transaction developments tied to its investment platform and portfolio companies.
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.
On May 9, 2022, White Mountains Insurance Group (NYSE: WTM) announced the sale of NSM Insurance Group for $1.775 billion to Carlyle (NASDAQ: CG). The deal is expected to increase White Mountains' adjusted book value per share by approximately $280 and boost its undeployed capital from $0.4 billion to $1.7 billion. The transaction, set to close in the second half of 2022 pending regulatory approval, is seen as beneficial for both White Mountains' shareholders and NSM's management, facilitating NSM's growth with Carlyle's expertise.
3Q Digital has announced a definitive agreement to merge with DEPT®, creating a global powerhouse in digital marketing. The combined agency will consist of 3,000 specialists and manage over $3 billion in digital media spending across 180+ markets. This merger aims to enhance client experiences through integrated services and innovative technology. The transaction, subject to regulatory approval, is expected to close in Q2 2022. Post-merger, 3Q Digital will be rebranded as 3Q/DEPT™, providing a unified tech stack for clients.
AZZ Inc. has announced the acquisition of Sequa Corporation's Precoat Metals division for approximately $1.28 billion, which adjusts to $1.13 billion after tax benefits. Precoat, the leading independent provider of metal coil coating solutions in North America, generated $700 million in revenue and $137 million in adjusted EBITDA for 2021. The acquisition aligns with AZZ's strategy to enhance its metal coatings offering, expecting to be accretive to earnings in the first year. AZZ also raised its fiscal 2022 revenue guidance to $890 million to $910 million.
Compana Pet Brands, formerly Manna Pro Products, unveils a new corporate identity to reflect its growth in the pet care sector. With over 90.5 million U.S. households owning pets, Compana emphasizes its commitment to enriching pets' lives through a diverse range of quality products. The company has acquired 15 brands in five years, contributing to nearly half of its growth. Compana's sustainability initiatives aim to positively impact communities and the environment. Owned by Carlyle, Compana's portfolio includes brands in dog, cat, and various other pet categories.
On February 2, 2022, Rock Mountain Capital and The Olayan Group announced the acquisition of a 48% stake in PurposeBuilt Brands, previously held by Carlyle (NASDAQ: CG). Carlyle's exit was facilitated through this transaction, allowing TA Associates and company management to retain a 52% ownership stake. PurposeBuilt Brands, known for its specialty cleaning products, has celebrated 41 consecutive years of growth. The investment is expected to support further expansion and innovation in eco-friendly product lines.
On February 1, 2022, Carlyle (NASDAQ: CG) announced the completion of its acquisition of Involta, a leader in hybrid IT, cloud computing, and data center services. This strategic investment aims to enhance Involta's capabilities in delivering innovative hybrid cloud solutions and to support growing digital infrastructure needs. Involta's CEO emphasized the commitment to leveraging new capital for growth while maintaining exceptional customer service and operational excellence across its nationwide locations.
NineDot Energy announced a strategic investment from Carlyle (NASDAQ: CG) aimed at developing over 400 megawatts of clean energy systems by 2026. This investment will enhance local power infrastructure, providing reliable energy to thousands of New York households and businesses. The funds will support NineDot’s battery storage projects in areas like Queens, Staten Island, and Long Island, aligning with New York’s goal of achieving 100% clean energy by 2040 and a target of 6,000 MW of energy storage by 2030. This move emphasizes the role of battery storage in decarbonizing the electric grid.