Private equity firm Hillhouse is near a deal to buy a stake in Goldman Sachs-backed testing and inspection group LRQA, underscoring deal activity in the TIC sector.
Goldman Sachs is explicitly named as a backer of LRQA, indicating it holds an equity stake in the firm. Hillhouse nearing a stake purchase could valorize Goldman's investment, potentially triggering a profitable partial or full exit. However, without deal details, the direct financial impact on Goldman remains uncertain.
Goldman Sachs is a backer of LRQA, meaning it holds an equity stake, though the article does not specify the size or nature of the investment.
If Goldman Sachs sells part of its stake at a premium, it could book a gain, but without disclosed terms the impact on GS stock is likely muted.
Private equity firm Hillhouse is closing in on a deal to acquire a stake in LRQA, a testing, inspection and certification company that counts Goldman Sachs among its backers. The transaction would expand Hillhouse's portfolio in the TIC sector and could provide a partial exit for Goldman Sachs. Financial terms and the size of the stake were not disclosed.
According to the Bloomberg article, Hillhouse is in advanced talks to buy a stake in LRQA, but no final agreement has been reached yet.
LRQA is a testing, inspection, and certification (TIC) company, though the article does not detail its specific services.