Medallia Ownership Transition
Medallia, the Tysons, Va.-based customer and employee experience platform, has entered into a recapitalization agreement that transitions ownership from Thoma Bravo to a lender group led by Blackstone, Apollo, and FS KKR Capital Corp. The deal marks the end of Thoma Bravo’s 2021 takeover, resulting in a total wipeout of its $5 billion investment—the second-largest private equity loss in history, according to Verdad Advisers.
The recapitalization provides $150 million in new capital to fund CEO Mark Bishof’s $500 million product and AI investment roadmap. The new ownership group, which held Medallia’s debt at a discount, chose this restructuring over injecting further capital into the firm. The transaction is expected to close by year-end, pending regulatory approval.
Infrastructure Incident in Omaha
In an unrelated event, the Blackstone District in Omaha, Nebraska, saw emergency evacuations on Sunday, June 21, 2026. A large sinkhole opened beneath the former Brother’s Lounge at 3812 Farnam Street, following the collapse of a wall in the vacant building. The Omaha Public Works Department was alerted at 8:20 a.m., leading to the temporary evacuation of residents from the nearby Colonial Hotel Apartments.