How'd ProOne owner, Quadrangle, fare in deal?
According to PE Hub's Dan Primack, not bad. From his blog:
So, the total Quadrangle investment was $115 million, and it stands to pocket more than $182 million from the sale to GTCR. A source familiar with the situation puts Quadrangleâ€™s IRR at around 38 percent. Not stratospheric, but pretty damn good for what has effectively been a PIPE from day one. Moreover, the $15.50 per share sale price represents more than a 100% premium to Protection Oneâ€™s trading price prior to a January announcement that it had retained J.P. Morgan to explore strategic alternatives (13.3% premium to Fridayâ€™s closing price).Here's the link to Primack's whole entry.