Latest news with #GoldmanSachs
Zawya
19 minutes ago
- Business
- Zawya
Goldman Sachs Alternatives buys majority stake in Mace unit
Mace Group, a global construction business headquartered in London, has announced majority investment in its key unit Mace Consult by Private Equity at Goldman Sachs Alternatives through a carve-out from Mace Group. Mace Consult is a critical delivery partner for the world's most complex and marquee infrastructure and built environment projects, including the Hudson Tunnel Project in New York, Qiddiya in Saudi Arabia and the New Hospitals Programme in the UK. The firm had generated AED3.4 billion ($925 million) of revenue in 2024 and employs more than 5,200 people across four global hubs: Europe, the Americas, Asia Pacific and the Middle East and Africa. Following the strategic Goldman Sachs deal, there is no change at the top as Davendra Dabasia will continue to lead Mace Consult as CEO of the independent business. "I am excited to lead Mace Consult on this next stage in our journey, working in close partnership with Goldman Sachs Alternatives. Our teams around the world have delivered exceptional growth over the past few years, and our new partnership will enable us to build on that to become the world's leading delivery consultant," stated Dabasia. "As a standalone business, we will be positioned to further support our global infrastructure and built environment clients by scaling up at pace in North America and enhancing our digital solution delivery for clients," he added. Over the last three decades, Mace Consult's expert teams have advised clients on the development and delivery of iconic programmes around the world; from global mega-events such as the London 2012 Olympic and Paralympic Games and Expo 2020 Dubai, to multi-billion dollar infrastructure investments such as the GO Expansion rail programme in Canada and the Reconstruction with Changes in Peru. A number of Mace Group's shareholders, including Executive Chair Mark Reynolds and Mace Group CEO Jason Millett, will retain a minority stake in Mace Consult and will work closely with Goldman Sachs Alternatives as members of the new Mace Consult Board. Mark Reynolds will be appointed Chair. Building on over a decade of sustained double-digit organic growth and an expansion into delivering major programmes across the Americas, Europe, Asia Pacific and the Middle East and Africa, the new partnership will see Mace Consult target strategic acquisitions to bolster its presence in key growth markets. Reynolds said: "This transaction is a key milestone in securing the long-term future of Mace Consult, enabling the next phase of growth for our global consultancy practice. The shareholders, the board and I are extremely proud of the progress we've made collectively to achieve this outcome." "Since 1990, and accelerating since the success of the London 2012 Olympics, Mace Consult has transformed the industries it serves, delivering to exceptional standards and redefining the boundaries of ambition. We have established a foundation to enable the business to flourish for decades to come," he added. Jose Barreto, Partner within Private Equity at Goldman Sachs Alternatives, said: "We are delighted to invest in Mace Consult and accelerate its growth trajectory as an independent business both organically and through strategic acquisitions." "Through the global Goldman Sachs network and value acceleration resources, we see the potential to support Mace in delivering critical client outcomes during this period of heightened uncertainty and transformation," noted Baretto. Alex Mass, Managing Director within Private Equity at Goldman Sachs Alternatives, said: "The long-dated trends of climate change, technological disruption, demographic shifts and urbanisation represent one of the fundamental project delivery challenges in history, requiring innovative management approaches, as demonstrated by Mace Consult over the years." "As an independent business, Mace Consult is distinctly positioned to support clients in unlocking the full potential of every project around the world - and we are proud to support the employees of Mace Consult in this journey," he added. Mace Group was advised by UBS (M&A) and Linklaters (Legal). Goldman Sachs Alternatives was advised by Lazard (M&A and Financing), Jefferies International Limited (M&A) and White & Case (Legal). The transaction is expected to close in 2025.-TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Yahoo
38 minutes ago
- Business
- Yahoo
Accelerant Holdings Announces Pricing of Upsized Initial Public Offering
ATLANTA, July 24, 2025--(BUSINESS WIRE)--Accelerant Holdings ("Accelerant") announced today the pricing of its upsized initial public offering of 34,461,152 of its Class A common shares, par value $0.0000011951862 per share (the "Common Shares"), at a price to the public of $21.00 per Common Share. The offering consists of 20,276,280 Common Shares offered by Accelerant and 14,184,872 Common Shares to be sold by certain of Accelerant's existing shareholders (the "Selling Shareholders"). In connection with the offering, certain of the Selling Shareholders have granted the underwriters a 30-day option to purchase up to an additional 5,169,172 Common Shares. Accelerant will not receive any proceeds from the sale of Common Shares by the Selling Shareholders. The Common Shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "ARX" on July 24, 2025, and the offering is expected to close on July 25, 2025, subject to the satisfaction of customary closing conditions. Morgan Stanley & Co. LLC is acting as lead left active bookrunner, Goldman Sachs & Co. LLC is acting as lead right active bookrunner, and BMO Capital Markets Corp. and RBC Capital Markets, LLC are acting as active bookrunners for the offering. Wells Fargo Securities, LLC, Piper Sandler & Co., William Blair & Company, L.L.C., Raymond James & Associates, Inc. and TD Securities (USA) LLC are acting as bookrunners. Citizens Capital Markets and FT Partners are acting as co-managers. The offering of Accelerant's Common Shares is being made only by means of a prospectus. When available, copies of the final prospectus relating to the offering may be obtained for free by visiting EDGAR on the U.S. Securities and Exchange Commission's (the "SEC") website at Alternatively, copies of the final prospectus may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or by email at prospectus@ Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, or by email at prospectus-ny@ BMO Capital Markets Corp., Attention: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, by telephone at (800) 414-3627, or by email at bmoprospectus@ RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, 8th Floor, New York, NY 10281, by telephone at (877) 822-4089, or by email at equityprospectus@ A registration statement on Form S-1 relating to the Common Shares was declared effective by the SEC on July 23, 2025. This press release does not constitute an offer to sell or the solicitation of an offer to buy Common Shares, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. ABOUT ACCELERANT Accelerant is a data-driven risk exchange connecting underwriters of specialty insurance risk with risk capital providers. Accelerant was founded in 2018 by a group of longtime insurance industry executives and technology experts who shared a vision of rebuilding the way risk is exchanged – so that it works better, for everyone. The Accelerant risk exchange does business across 22 different countries and more than 500 specialty insurance products. View source version on Contacts MEDIA CONTACT Chelsea Allisonchelsea@ 704.641.1710 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
3 hours ago
- Business
- Globe and Mail
McGraw Hill Announces Pricing of its Initial Public Offering
McGraw Hill, Inc. ('McGraw Hill'), a leading global provider of information solutions for education, today announced the pricing of its initial public offering of 24,390,000 shares of its common stock (the 'Common Stock') at a public offering price of $17.00 per share. The shares of McGraw Hill's Common Stock are expected to begin trading on the New York Stock Exchange under the ticker symbol 'MH' on July 24, 2025, and the offering is expected to close on July 25, 2025, subject to customary closing conditions. McGraw Hill will receive proceeds of approximately $385,697,545 million after deducting underwriting discount and commissions and estimated offering expenses and intends to use the net proceeds from the offering to repay a portion of the outstanding borrowings under its term loan credit facility. In addition, the selling stockholder identified in the registration statement has granted the underwriters a 30-day option to purchase up to an additional 3,658,500 shares (solely to cover over-allotments, if any) of McGraw Hill's Common Stock at the initial public offering price, less underwriting discounts and commissions. McGraw Hill will not receive any proceeds from the sale of shares by the selling stockholder if the underwriters exercise their option to purchase additional shares of Common Stock. Goldman Sachs & Co. LLC is acting as book-running manager for the proposed offering and as representative of the underwriters for the proposed offering. BMO Capital Markets, J.P. Morgan, Macquarie Capital, Morgan Stanley, Deutsche Bank Securities, and UBS Investment Bank are acting as bookrunners for the proposed offering. Baird, BTIG, Needham & Company, Rothschild & Co, Stifel, and William Blair are acting as co-managers for the proposed offering. The proposed offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from: Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282 (Tel: 866-471-2526) or by e-mail at prospectus-ny@ A registration statement relating to the Common Stock has been filed with, and was declared effective by, the U.S. Securities and Exchange Commission on July 23, 2025. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Common Stock, nor shall there be any sale of the Common Stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About McGraw Hill McGraw Hill is a leading global provider of education solutions for preK-12, higher education and professional learning, supporting the evolving needs of millions of educators and students around the world. We provide trusted, high-quality content and personalized learning experiences that use data, technology and learning science to help students progress towards their goals. Through our commitment to fostering a culture of innovation and belonging, we are dedicated to improving outcomes and access to education for all. We have over 30 offices across North America, Asia, Australia, Europe, the Middle East and South America, and make our learning solutions available in more than 80 languages.
Yahoo
3 hours ago
- Business
- Yahoo
McGraw Hill Announces Pricing of its Initial Public Offering
COLUMBUS, Ohio, July 23, 2025--(BUSINESS WIRE)--McGraw Hill, Inc. ("McGraw Hill"), a leading global provider of information solutions for education, today announced the pricing of its initial public offering of 24,390,000 shares of its common stock (the "Common Stock") at a public offering price of $17.00 per share. The shares of McGraw Hill's Common Stock are expected to begin trading on the New York Stock Exchange under the ticker symbol "MH" on July 24, 2025, and the offering is expected to close on July 25, 2025, subject to customary closing conditions. McGraw Hill will receive proceeds of approximately $385,697,545 million after deducting underwriting discount and commissions and estimated offering expenses and intends to use the net proceeds from the offering to repay a portion of the outstanding borrowings under its term loan credit facility. In addition, the selling stockholder identified in the registration statement has granted the underwriters a 30-day option to purchase up to an additional 3,658,500 shares (solely to cover over-allotments, if any) of McGraw Hill's Common Stock at the initial public offering price, less underwriting discounts and commissions. McGraw Hill will not receive any proceeds from the sale of shares by the selling stockholder if the underwriters exercise their option to purchase additional shares of Common Stock. Goldman Sachs & Co. LLC is acting as book-running manager for the proposed offering and as representative of the underwriters for the proposed offering. BMO Capital Markets, J.P. Morgan, Macquarie Capital, Morgan Stanley, Deutsche Bank Securities, and UBS Investment Bank are acting as bookrunners for the proposed offering. Baird, BTIG, Needham & Company, Rothschild & Co, Stifel, and William Blair are acting as co-managers for the proposed offering. The proposed offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from: Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282 (Tel: 866-471-2526) or by e-mail at prospectus-ny@ A registration statement relating to the Common Stock has been filed with, and was declared effective by, the U.S. Securities and Exchange Commission on July 23, 2025. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Common Stock, nor shall there be any sale of the Common Stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About McGraw Hill McGraw Hill is a leading global provider of education solutions for preK-12, higher education and professional learning, supporting the evolving needs of millions of educators and students around the world. We provide trusted, high-quality content and personalized learning experiences that use data, technology and learning science to help students progress towards their goals. Through our commitment to fostering a culture of innovation and belonging, we are dedicated to improving outcomes and access to education for all. We have over 30 offices across North America, Asia, Australia, Europe, the Middle East and South America, and make our learning solutions available in more than 80 languages. View source version on Contacts Investors:Danielle Zack Media:Tyler Reed(914) Cathy McManus(646) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 hours ago
- Business
- Yahoo
Why Analysts Favor The Unloved Energy Stocks
Although the outlook on oil prices and demand has become increasingly uncertain in recent months, analysts continue to recommend the underperforming energy stocks as a good bet for investors. Energy has the highest share of the stocks with 'buy' recommendations of all 11 sectors of the S&P 500, according to ratings from Wall Street analysts compiled by Bloomberg. Many experts cite the cheap valuations of the energy sector and the pro-oil and gas policies of the Trump Administration as key drivers of future stock growth. Moreover, energy commodities could offer protection against inflation, which could accelerate due to President Trump's chaotic on-and-off trade and tariff policies. 'Historically, energy generated the strongest real returns across assets when inflation surprised to the upside,' Goldman Sachs said last year. The investment bank's analysis found that inflation surprises to the upside usually boost real returns for commodities, and lower returns for equities and bonds. This summer, Wall Street analysts believe that energy stocks can stage a rebound in the coming energy sector in the S&P 500 index boasts the highest proportion of stocks rated 'buy' by analysts—74%, per the data compiled by Bloomberg. Information technology is the second most recommended sector, with 65% of stocks rated 'buy' by analysts. The average for all S&P sectors is about 50% buy-rated stocks. This suggests that the Street is more bullish on energy overall than on Big Tech as a whole. A key reason for this is that the energy sector looks very cheap in terms of stock price to earnings ratio. It's actually the cheapest of all 11 sectors. 'The thesis that some people have is that multiples and valuations are very, very low right now,' Leo Mariani, analyst at Roth Capital Partners, told Bloomberg in an interview. Low valuations and the past underperformance are setting the stage for a comeback of the oil and gas stocks, according to analysts. For example, sell-side analysts forecast energy stocks will grow by about 16% over the next 12 months, double the expected rise of the S&P 500 index, and the second-highest growth rate among the 11 sectors, trailing only behind health care, Bloomberg's data show. So far this year, the energy sector has underperformed the S&P 500, with a gain of 3.16% year to date, compared to a 7.3% rise for the broader index as of July 22. The Oil & Gas E&P subsector has underperformed even more, losing 6.52% year to date. The 1-year return for the subsector is a negative 16.95%, compared to a 14.62% return of the S&P 500. Despite the Street's bullish view on the energy sector, investors seem unconvinced. Uncertainty about oil demand and prices is trumping the power of the inflation hedge attributed to commodities. Moreover, fluctuating and lower oil prices would stifle earnings at oil and gas companies. 'Earnings growth might struggle if oil prices continue to fall on the heels of both relatively weak demand and a continued recovery in supply,' analysts at the Schwab Center for Financial Research (SCFR) wrote last week in a monthly outlook on the 11 S&P 500 sectors. 'While Energy tends to be cyclical and to do well when the Federal Reserve is cutting rates slowly, global commodity prices (particularly oil) fall under pressure if growth continues to slow.' SCFR has had a Marketperform rating on all sectors since the first major tariff blitz in early April. 'Until we have more clarity on trade policy we are cautious about asserting an Outperform or Underperform view on any sector,' the analysts wrote. Major oil companies themselves have warned of lower earnings for the second quarter on the back of the decline in oil and gas prices compared to early this year and this time last year. By Tsvetana Paraskova for More Top Reads From this article on
