Two private equity firms--Texas Pacific and Silver Lake Partners--have gobbled up Sabre Holdings in a $5 billion dollar deal. The transaction is expected to close in the second quarter of next year. It is yet another feather in the cap of Texas Pacific--which has become on the biggest and most active players in the entire private equity world.
FYI: Sabre is a leading travel-booking service.
Dennis Berman is a reporter for The Wall Street Journal and covers the private equity world. He says it's "one big deal" and he says Texas Pacific is not done by any means when it comes to buying. The Wall Street Journal reports that Qantas Air and Harrah's could be on the private equity firm's radar screen. In "buying" Sabre--Texas Pacific and Silver Lake take on $500 million in debt--but Texas P. has some $30 billion assets under management.
Berman says to expect more private equity deals next year--and to look at the tech sector as one of the prime targets.