Latest news with #EQT
Yahoo
14 hours ago
- Business
- Yahoo
EQT and CPP Investments to acquire Neogov
EQT and Canada Pension Plan Investment Board (CPP Investments) have agreed to purchase Neogov, a provider of HR and compliance software for US public sector agencies, from Warburg Pincus and Carlyle. The deal places Neogov's valuation at over $3bn, inclusive of debt, as reported by Reuters from sources familiar with the matter. However, the financial specifics of the deal were not publicly disclosed by the involved parties. Neogov, which was established in 2000 and based in El Segundo, California, offers cloud-based human capital management solutions. The company is said to cater to approximately 10,000 public sector organisations across North America. Its software supports various stages of the employee lifecycle, from recruitment and onboarding to performance management and compliance monitoring. This ensures adherence to local policies and regulations. The company also runs a public sector job board in the US, and manages brands like PowerDMS and NEOED, which extend its services into public safety and education sectors. Warburg Pincus initially invested in Neogov in 2016, while Carlyle joined as a minority investor in 2021. Neogov CEO Shane Evangelist said: 'Local governments are the backbone of our communities. Our mission is to help them operate more efficiently and serve citizens more effectively. EQT and CPP Investments share our vision and bring the experience and capital to help us scale faster. 'Our priorities include advancing product innovation and AI capabilities to help public sector agencies drive increased efficiency and compliance adherence. EQT and CPP Investments' deep expertise in software and broad network of advisors will be instrumental to supporting Neogov's growth.' This acquisition will see EQT X fund being invested by 60-65% when considering closed or signed investments and announced public offers, less any anticipated syndication. EQT global technology team partner and co-head Arvindh Kumar said: 'We are excited to partner with Shane and the NEOGOV team, who are operators at the highest levels. The team brings a deep understanding of the challenges that public sector agencies face, and we're proud to support a company that has earned such trust in the public sector.' The completion of this transaction remains subject to customary conditions and regulatory approvals, with expectations to finalise in the coming months. Moelis & Company acted as the exclusive financial adviser for Neogov, with Willkie Farr & Gallagher providing legal counsel. EQT received exclusive financial advice from Jefferies, while legal counsel was provided by Ropes & Gray. "EQT and CPP Investments to acquire Neogov" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
CNA
17 hours ago
- Business
- CNA
Investment fund EQT aims to acquire Japan's Fujitec for $2.6 billion, Nikkei says
TOKYO :European investment fund EQT has decided to acquire Japanese elevator maker Fujitec through a tender offer worth more than 400 billion yen ($2.6 billion), the Nikkei business daily reported on Tuesday. Fujitec has been the target of activist investors, notably Hong Kong-based Oasis Management, which is currently its top shareholder with a stake of about 30 per cent. EQT's tender offer price is likely to be in the upper 5,000 yen range, compared with the closing price of 6,205 yen on Tuesday, the Nikkei said.
Reuters
17 hours ago
- Business
- Reuters
Investment fund EQT aims to acquire Japan's Fujitec for $2.6 bln, Nikkei says
TOKYO, July 29 (Reuters) - European investment fund EQT ( opens new tab has decided to acquire Japanese elevator maker Fujitec (6406.T), opens new tab through a tender offer worth more than 400 billion yen ($2.6 billion), the Nikkei business daily reported on Tuesday. Fujitec has been the target of activist investors, notably Hong Kong-based Oasis Management, which is currently its top shareholder with a stake of about 30%. EQT's tender offer price is likely to be in the upper 5,000 yen range, compared with the closing price of 6,205 yen on Tuesday, the Nikkei said.
Yahoo
a day ago
- Business
- Yahoo
EQT and CPP Investments to acquire NEOGOV, a provider of HR and compliance software for U.S. public sector agencies, from Warburg Pincus and Carlyle
The EQT X fund ("EQT") and Canada Pension Plan Investment Board ("CPP Investments") have agreed to acquire NEOGOV, which serves over 10,000 public sector agencies with purpose-built government HR and compliance software solutions NEOGOV's cloud-native solutions support the full employee lifecycle and help public sector agencies drive efficiency and stay compliant with local policies and regulatory frameworks EQT and CPP Investments will partner with CEO Shane Evangelist and the management team to accelerate growth and expansion, building upon their track records in the US software sector STOCKHOLM, July 28, 2025 /PRNewswire/ -- EQT announced today that the EQT X fund ("EQT") together with Canada Pension Plan Investment Board ("CPP Investments") have agreed to acquire NEOGOV (the "Company") from funds managed by Warburg Pincus and Carlyle. Founded in 2000 and headquartered in El Segundo, California, NEOGOV delivers purpose-built human capital management and public safety solutions to nearly 10,000 public sector organizations across North America. NEOGOV's cloud-native suite supports the full employee lifecycle – from recruitment and onboarding to performance management and compliance management – while helping agencies stay compliant with local policies and regulatory frameworks. "Local governments are the backbone of our communities. Our mission is to help them operate more efficiently and serve citizens more effectively. EQT and CPP Investments share our vision and bring the experience and capital to help us scale faster," said Shane Evangelist, CEO of NEOGOV. "Our priorities include advancing product innovation and AI capabilities to help public sector agencies drive increased efficiency and compliance adherence. EQT and CPP Investments' deep expertise in software and broad network of advisors will be instrumental to supporting NEOGOV's growth." "We are excited to partner with Shane and the NEOGOV team, who are operators at the highest levels. The team brings a deep understanding of the challenges that public sector agencies face, and we're proud to support a company that has earned such trust in the public sector," said Arvindh Kumar, Partner and Co-Head of EQT's Global Technology Team. Tyler Parker, Managing Director in the EQT Private Equity advisory team, added: "It's rare to find a software company that is so well-loved by its customers, and we look forward to partnering with NEOGOV to continue to modernize public sector operations and deliver impactful technology to those on the front lines of civic service." "NEOGOV is a leading software platform with distinct customer offerings that is poised for growth due to increasing demand from its customers across North America. Together with its strong management team, the Company is a good fit for our strategy to invest in high-quality software companies. We look forward to supporting the Company in this next phase of development alongside EQT and the management team," said Sam Blaichman, Managing Director, Head of Direct Private Equity, CPP Investments. With this transaction, EQT X is expected to be 60 – 65 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication). The transaction is subject to customary conditions and approvals and is slated for completion in the coming months. Moelis & Company LLC served as exclusive financial advisor and Willkie Farr & Gallagher served as legal counsel to NEOGOV. Jefferies LLC served as exclusive financial advisor and Ropes & Gray served as legal counsel to EQT. Contact EQT: EQT Press Office, press@ CPP Investments: Asher Levine, Public Affairs & Communications, alevine@ T: +1 929 208 7939NEOGOV: Scott Jensen, Vice President of Marketing, sjensen@ This information was brought to you by Cision The following files are available for download: PR_EQT CPPI NEOGOV_25.07.28 DSC03016 View original content: Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Globe and Mail
a day ago
- Business
- Globe and Mail
EQT Falls 4% Despite Q2 Earnings Beat Driven by Upstream Operations
EQT Corporation EQT reported robust second-quarter 2025 earnings, backed by its core upstream operations. Despite this, the stock price has lost nearly 4% since its earnings release on July 22. The leading natural gas producer is now undervalued, and its current affordability is reflected in its trailing 12-month enterprise value-to-EBITDA (EV/EBITDA) ratio of 8.47, significantly lower than the industry 's 10.83. EQT's Upstream Business EQT is a leading producer of natural gas in the United States, with a primary focus on the Appalachian region. At its current drilling pace, the natural gas producer has sufficient locations to continue operations for more than three decades. The company expects its drilling and upstream operations to yield consistently good results, particularly during the drilling of new wells. It currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Robust Q2 Earnings EQT reported second-quarter 2025 adjusted earnings from continuing operations of 45 cents per share, which beat the Zacks Consensus Estimate of 44 cents. The bottom line increased from the year-ago reported loss of 8 cents. Adjusted operating revenues increased to $1,599 million from $1,183 million in the prior-year quarter. However, the top line missed the Zacks Consensus Estimate of $1,793 million. The strong quarterly earnings were driven by higher sales volume and increased average realized prices. Q2 Operations Favorable In the June quarter, EQT produced 568.2 billion cubic feet (Bcfe) of natural gas, higher than 507.5 Bcfe in the prior-year quarter. The production volumes, however, marginally missed our estimate of 569.3 Bcfe. Natural gas contributed about 94% of the total production, amounting to 534.4 Bcf. Although this was slightly below our estimate of 535.3 Bcf, it increased from the previous year's 474.1 Bcf. The year-over-year growth was driven by strong well performance. Also, the upstream player reported an average natural gas price, including cash-settled derivatives, at $2.69 per Mcf, higher than $2.16 in the prior-year quarter. Earnings Update for XOM & CVX Two other energy giants, Exxon Mobil Corporation XOM and Chevron Corporation CVX, are slated to release second-quarter results on Aug 1, 2025. XOM disclosed in an 8-K filing that it expects earnings to be hurt sequentially by lower oil and natural gas prices. With exploration and production activities contributing mostly to XOM's bottom line, a weaker commodity pricing environment in the June quarter of this year is a concern. Softer commodity prices are expected to hurt XOM's upstream business, as the energy giant forecasts that lower oil prices will sequentially decrease its upstream earnings by $800 million to $1.2 billion. A change in gas prices will reduce its upstream profit by $300 million to $700 million. Thus, it can be assumed that ExxonMobil's second-quarter results are going to take a hit. The Zacks Consensus Estimate for XOM's earnings for the June quarter is pegged at $1.46 per share, suggesting a decline of almost 32% year over year. Coming to Chevron's story, the Zacks Consensus Estimate of CVX's earnings for the second quarter is pegged at $1.66 per share, suggesting a decline of almost 35% year over year. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They include Stock #1: A Disruptive Force with Notable Growth and Resilience Stock #2: Bullish Signs Signaling to Buy the Dip Stock #3: One of the Most Compelling Investments in the Market Stock #4: Leader In a Red-Hot Industry Poised for Growth Stock #5: Modern Omni-Channel Platform Coiled to Spring Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%. Download Atomic Opportunity: Nuclear Energy's Comeback free today. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Chevron Corporation (CVX): Free Stock Analysis Report Exxon Mobil Corporation (XOM): Free Stock Analysis Report
