Private Equity
Private equity firm Centerbridge Partners is preparing a sale of Ahead in a deal that could value the enterprise cloud solutions provider at more than US$3 billion including debt, according to people familiar with the matter. Centerbridge has interviewed banks to hire a financial adviser for the sale and is expected to launch a process later this summer, the sources said. Chicago-based Ahead is expected to generate US$2.5 billion in revenue this year, up from US$2.2 billion in 2021, with annual earnings before interest, taxes, depreciation and amortisation of more than US$230 million, the sources added.