Petco beats IPO share price

Pet retailer Petco Health and Wellness Company Inc. said on Wednesday it sold shares in its initial public offering at $18 apiece, above its target range, to raise about $864 million.

Petco, which is owned by the CPP Investments and private equity firm CVC Capital Partners, had aimed to sell 48 million shares at a target range of $14 to $17 per share.

Founded in 1965 as a mail-order veterinary supplies business, Petco first went public in 1994. In 2000, the PE firms TPG and Leonard Green & Partners acquired Petco, taking it private in a $600 million deal. Petco went public for a second time in 2002. Four years later, in 2006, TPG and Green bought Petco for a second time, again taking it private in a $1.7 billion deal. In early 2016, TPG and Green sold Petco to CVC and CPPIB for $4.6 billion.

CVC Agrees to sell Kount to Equifax

CVC Capital Partners announced that the CVC Growth Fund has signed a definitive agreement to sell Kount, a provider of Artificial Intelligence-driven fraud prevention and digital identity solutions, to global data and analytics company Equifax in a deal valued at $640 million.

“Kount was an industry leader when the CVC Growth Fund invested, and since then the company has gone from strength to strength under CEO Brad Wiskirchen’s leadership, more than tripling revenue during the investment period,” said Jason Glass, Partner at CVC Growth Partners.

Formed in 2007, Kount’s best-in-class fraud prevention solutions protect the customer journey and digital innovations for over 9,000 brands globally. The Company has earned recognition as a leader in digital fraud prevention, with over 13 years of data informing its advanced Machine Learning (ML) and AI-based models.

Conair Corporation in advance talks with Spectrum brands and CVC Capital Partners

Spectrum Brands, Inc and private equity firm CVC Capital Partners are in advanced talks to acquire hair-dryer maker Conair Corporation, according to people with knowledge of the matter.

The deal could value Conair at about $2 billion, the people said, asking not to be identified because the information is private. The suitors aim to reach an agreement within weeks, though negotiations could still fall apart, the people said.

Any transaction will add to the $8.3 billion of deals involving appliance makers announced over the past 12 months. Royal Philips is also selling its home appliance arm, which makes everything from coffee makers to air purifiers. CVC was among several large buyout firms that initially expressed interest in the Philips unit, but the Dutch company shortlisted a clutch of Asian suitors.