WCAS Revels In Point-Of-Sale Takeover

Welsh, Carson, Anderson & Stowe has agreed to acquire a majority stake in Revel Systems, the provider of a cloud-based point-of-sale system for retail clients. Scott Betts will take over as Revel CEO, replacing company founder Lisa Falzone. The company had raised more than $125 million in venture funding since its 2010 launch, including a $13.5 million investment from ROTH Capital Partners in 2015 at a $678 million valuation.

The announcement marks the culmination of talks that have surrounded Revel for the past six months, when reports emerged that IBM (NYSE: IBM) was in discussions to buy the business. A few weeks ago, meanwhile, a federal filing dated January 13 indicated that WCAS had acquired some stake in Revel. WCAS first backed the company in 2014, when it led a $100 million investment that valued Revel at $500 million.

Warren Buffett’s 2018 Activist Investment

Berkshire Hathaway Warren BuffettMost investors are aware of Warren Buffett's most high profile long-term investments. However, there is one long term investment that is often overlooked. Q2 2020 hedge fund letters, conferences and more This is building materials maker USG, which was owned by Berkshire Hathaway for more than 17 years before it was acquired in 2018. If Read More

The deal also represents a continuation of private equity’s increasing interest in fintech. Investors completed 78 PE deals in the sector last year, a decade high, according to the PitchBook Platform. It was the fourth straight year with an uptick in fintech activity, rising from a mere 39 deals in 2012.

Want more fintech info? Check out our analyst note predicting what 2017 has in store for the industry.

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