Good morning, Hubsters. MK Flynn here in New York with the US edition of the Wire. Today marks the last day of the first half of the year. At the risk of dating myself, I’ll quote Jerry Garcia and his bandmates: “What a long, strange trip it’s been.” Despite the many uncertainties dealmakers faced, some folks managed to close deals. In the coming weeks, PE Hub will be highlighting the completed deals from H1 that we found significant. We’d love to get your input: What are the most important completed deals of the year so far? Send me your thoughts at mk.flynn@pei.group A couple of deals were announced today that highlight some of the themes that have been playing out in the market: the proliferation of data centers, and the increasing popularity of single-asset CVs in a challenging exit environment. We’ll take a quick look at those, below. Speaking of exits, PE Hub reporter Iris Dorbian took a close look at the Sterling Group’s sale of Artisan Design Group, a provider of flooring, cabinets and countertops, to retailer Lowe’s for $1.3 billion. We’ll start with that inside the exit story. One-stop shop The dealmaking climate may be sluggish right now, but for the Sterling Group, 2025 has been a whirlwind of exits, writes PE Hub reporter Iris Dorbian. Among Sterling’s recent exits, one stands out for its scale, strategic buyer and price: the early June sale of Artisan Design Group, a Dallas-based provider of flooring, cabinets and countertops, to retailer Lowe’s for $1.3 billion. Premium subscribers to the Wire may learn all about the deal based on Iris’ conversation with Sterling partner Kent Wallace, including how uncertainty around tariffs played a role in Lowe’s winning the deal over private equity would-be buyers. Data center power move Advent International has agreed to acquire a majority stake in LayerZero Power Systems, an Aurora, Ohio-based manufacturer of static transfer switches, power distribution units and other power management products for data centers and other applications. Premium subscribers to the Wire will find out about the factors fueling the deal. Exit strategy: Single-asset CV We’re continuing to see more single-asset continuation vehicles in today’s challenging exit environment. Earlier today, DevCo Partners announced it has closed a €521 million single-asset continuation vehicle to support Vexve. Headquartered in Sastamala, Finland, Vexve offers valve services for energy infrastructure. Upgrade to the premium Wire to find out more. Coming up: NEXUS 2026 Before signing off, I’d like to mention that we’re already hard at work on NEXUS 2026, which will be held February 22-25 at the JW Marriott Orlando, Grande Lakes, and we’d love to receive your input on who you’d like to see on stage for keynote speakers? Send your ideas to me at mk.flynn@pei.group Tomorrow, Craig McGlashan will bring you the Europe edition of the Wire, and Obey Martin Manayiti will bring you the US edition. Happy dealmaking, MK Read the full Wire commentary on PE Hub ... |