Duke Street’s sale of employee benefits company Xafinity to Advent International marks the second major secondary buyout in as many days. With the buyout market currently a dichotomy between cash-rich and exit-starved managers, SBOs could be set to rocket. Deborah Sterescu reports.
Founders of the online Alpine tourism platform will continue to hold a stake in the business
Company intends to use the fresh capital to further boost its expansion across Europe and scale up its team
Sale process was initiated by Courtepaille's PE sponsor Intermediate Capital Group, which filed for a receivership procedure in July
Switzerland-headquartered Hermes Capital Group acquired Mattenbach in November 2019