Carlyle / Peloton Computer EnterprisesWA-20003

Parties

Summary

The Carlyle Group Inc., via CG Panther Parentco, L.P., proposes to acquire non-voting preferred equity and warrants in Peloton Computer Enterprises Ltd. The warrants would provide up to approximately 14% of Peloton's fully-diluted equity. Peloton supplies software to exploration and production operators in the upstream oil and gas industry.

Acquisition details

The Carlyle Group Inc. ( Carlyle ) is a global investment firm headquartered in Washington DC, USA, with assets under management across three business segments: (i) Global Private Equity (including corporate private equity and real estate funds); (ii) Global Credit (including liquid credit, illiquid credit and real assets credit); and (iii) Carlyle AlpInvest (including primary, secondary, and co-investments, commingled funds, and separately managed accounts). Peloton Computer Enterprises Ltd. ( Peloton ) is a global supplier of software predominantly used by exploration and production ( E&P ) operators in the upstream oil and gas industry. E&P is an early phase in the oil and gas industry concerned with locating and extracting raw materials. Carlyle, via its controlled investment vehicle (CG Panther Parentco, L.P., Panther ), proposes to acquire non-voting and non-convertible preferred equity in Peloton, as well as warrants that (if exercised) would provide Carlyle with up to c. 14% of the fully-diluted equity in Peloton (pro forma for the transaction). Carlyle will ultimately (via Panther) hold only (i) preferred equity and (ii) warrants amounting up to c. 14% holding of common equity interests in Peloton on a lookthrough basis.