Founded in 2011 in Chennai, AGS Health provides outsourced billing, coding, and revenue cycle services for US healthcare systems. The company was initially acquired by Baring Private Equity Asia in 2019, before becoming part of EQT's portfolio through its $7.5bn takeover of BPEA in 2022. Since then, AGS has shifted its global headquarters to Washington, DC, launched operations in the Philippines, and grown to over 12,000 employees. It currently services more than 150 hospitals and healthcare systems across the United States. The proposed sale is part of EQT's broader strategy to realise gains from legacy BPEA investments and would mark a significant exit for its Asia platform. It also reflects heightened private equity interest in healthcare business process outsourcing and tech-enabled solutions, driven by increasing operational complexity and digital transformation in the US healthcare market. Subscribe to our Newsletter to increase your edge. Don't worry about the news anymore, through our newsletter you'll receive weekly access to what is happening. Join 120,000 other PE professionals today....
Enterprise technology spending in the United States has been growing by 8 percent per year on average since 2022.1'Forecast: Enterprise IT spending by vertical industry market, worldwide,' Gartner, multiple years. This surge is not surprising, given the increasing role technology plays in how businesses function and create value. The issue lies in what companies are getting for that spend, and the track record on that score is mixed. While analysis linking tech spend to labor productivity is notoriously inexact, labor productivity has grown by close to 2 percent over the same period of time (Exhibit 1).2'Forecast: Enterprise IT spending by vertical industry market, worldwide,' Gartner, multiple years; US Bureau of Labor Statistics data. Data further show that the relationship between IT spend levels and labor productivity varies by sector, creating more uncertainty. The communications, media, and services sector, for example, has sustained growth of greater than 4 percent in productivity while increasing IT spend by almost 9 percent per year. The retail sector, meanwhile, has demonstrated an almost 4 percent increase in productivity, while seeing IT spend drop more than 1 percent annually (Exhibit 2).3'Forecast: Enterprise IT spending by vertical industry market, worldwide,' Gartner, multiple years; US Bureau of Labor Statistics data....
The deal marks a new phase of growth for True Religion, with the investor group aiming to accelerate the brand's international expansion through a focused strategy on digital transformation and omnichannel retail. Founded in Los Angeles in 2002, True Religion built its reputation on distinctive stitching and high-end denim craftsmanship. It has since diversified its product offering across menswear, womenswear, and childrenswear, with strong retail and e-commerce presence globally. Borletti Group, led by Maurizio Borletti and Paolo De Spirt, brings deep experience in fashion and lifestyle investing, with prior stakes in department stores Rinascente and Printemps. The firm's involvement reflects growing private equity interest in resilient mid-market fashion brands with global scalability and consumer recognition. Subscribe to our Newsletter to increase your edge. Don't worry about the news anymore, through our newsletter you'll receive weekly access to what is happening. Join 120,000 other PE professionals today....
The newly combined business, headquartered in Tallahassee, Florida, will be led by Greg Berard, former CEO of Converge, with Jeff Dobbelaere, previously President of Mainline, assuming the role of President and COO. The merger provides H.I.G. with an enhanced platform to serve large corporate clients in high-demand digital transformation sectors. 'We're accelerating investments in areas like AI, cybersecurity, hybrid cloud, app modernization, data, and managed services,' said Berard. Dobbelaere added that the combined entity strengthens client relationships and broadens access to partner ecosystems. The formation of Pellera follows a string of tech sector moves by H.I.G., including the recent acquisition of Quisitive Technology Solutions, a Microsoft Cloud and AI-focused firm, and a strategic investment in GetixHealth, which supports revenue cycle management for healthcare providers. H.I.G. has also remained active on the exit front, selling Soleo Health to Court Square Capital and WindRose Health Investors earlier this year. Beyond the US, the firm continues to expand in Europe, with recent investments in logistics real estate in France, a Cambridge-based innovation hub, and a German industrial automation company....