A Blackstone-led investor group has recapitalized Medallia, marking one of private equity’s most crushing losses. The deal sees Thoma Bravo hand Medallia to lenders after its investment struggled to bounce back.
Medallia’s recapitalization caps a unexpected wipeout for private equity, with stakeholders seeing everything evaporate. Sources say the string of such deals a ‘catastrophic trend’ for the industry.
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