The board of UK-based card payment processing business PaySafe has unanimously recommended that shareholders accept the Blackstone and CVC Capital Partners take-private bid for the company, valuing its equity at £2.96bn.
Deal is the first investment for the GP's recently opened Midlands office
Deal ends a five-year holding period for Cornerstone, which acquired Infoniqa SQL in 2012
Craig Hopwood joins the GP's northern team from HSBC, where he was a director
Lexington was previously reported to be considering acquiring up to €1.2bn in secondary commitments