Weil Advises PE Firm in Selling Stake as Part of $1.2B Deal

PSG Equity said it completed the sale of a minority stake in SevenRooms on June 16 to DoorDash as part of the food delivery service’s $1.2 billion acquisition of the customer relationship management technology company.

PSG didn’t disclose terms of the divestiture. The Boston-based private equity firm initially invested in SevenRooms in 2020 and said it helped the company expand to more than 13,000 venues and customers from 2,000 five years ago. Providence Equity Partners created PSG about a decade ago to focus on lower middle-market technology firms.