TPG Capital is closing in on a deal to acquire technology-enabled homecare business Five Good Friends, which has shot past $100 million in gross revenue.
Street Talk can reveal TPG is the frontrunner in Five Good Friends’ auction of a majority stake at a $100 million-plus valuation. The eight-year-old business’ early backers, including QIC and stockbroker Morgans, mandated Record Point to shop about 45 per cent in July but have since expanded the up-for-grabs stake.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com