Home / Business and Economy / Private Equity Eyes Bill Holdings in Major Acquisition
Private Equity Eyes Bill Holdings in Major Acquisition
6 Feb
Summary
- Bill Holdings is in acquisition talks with private equity firm Hellman & Friedman.
- Activist investors have pressured Bill Holdings due to competition and spending.
- Westbrook Partners is selling luxury Ritz-Carlton hotels in key US cities.
Hellman & Friedman is reportedly in discussions to acquire business payments company Bill Holdings Inc., signaling a significant potential buyout in the financial software industry. These discussions, which have been ongoing in recent weeks, come as Bill Holdings also faces interest from other private equity firms. Despite recent stock performance improvements and an enhanced full-year forecast, the company's shares have experienced a substantial decline over the past year.
Bill Holdings, which offers payment and expense-management services to small and midsize businesses, has been under scrutiny from activist investors, including Starboard Value LP, Elliott Investment Management, and Barington Capital Group. These pressures stem from challenges such as decreased customer spending and intense market competition.
In separate news, Westbrook Partners is actively selling luxury Ritz-Carlton hotels in New York and Washington D.C., capitalizing on continued strong demand for affluent travel experiences. The Ritz-Carlton New York has reportedly been sold to lodging investor Gencom, and a deal for the Ritz-Carlton Washington D.C. with Trinity Investments is nearing completion. This trend highlights the resilience of the luxury hotel market, which has shown robust revenue growth compared to the broader US hotel sector.
Both Gencom and Trinity have a history of acquiring high-end hospitality assets, indicating continued investor confidence in prime luxury properties. Westbrook Partners, a firm with substantial investment history, has been a notable seller of assets recently.
