Apax Global Alpha Ltd - closed-ended investment company giving investors access to Apax funds - Notes Apax X Fund, in which company is a limited partner, buys majority ownership stake in US-based professional tree, shrub and lawn care provider SavATree.
As a result, Apax Global to invest about EUR23 million in SavATree. Deal to close in fourth quarter.
"Apax X, in partnership with SavATree's leadership team, will strive to accelerate the company's already impressive growth trajectory both organically and through strategic M&A, while continuing to deliver the highest level of customer care and service," company adds.
Current stock price: 212.50 pence
Year-to-date change: up 10%
By Paul McGowan; paulmcgowan@alliancenews.com
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Apax Global Alpha (APAX)