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The Wire

Private equity deal news and insights from the London newsroom

Dec 9, 2024

 

Bain Capital’s Sessa expects increased deal volume in 2025; CVC in talks to take healthcare software biz private

Good morning, Nina Lindholm here with the Europe Wire from the London newsroom.

 

The European dealmaking dynamic is in focus this morning, as we hear from Bain Capital partner Ivano Sessa, who talks us through his 2025 outlook.

 

Take-private deals have been a recurring topic this year, and this morning, we have a fresh potential acquisition to look at. CVC Capital Partners is in advanced discussions to acquire a German healthcare software provider.

 

We stick with software to finish, with the news that Keensight Capital has agreed to acquire a European human risk management software vendor.

 

Positive momentum

Despite anemic economic growth in Europe, LBO deal activity in the region is experiencing a “good dynamic”, bolstered by lower interest rates, narrowing bid/ask spreads, and private equity firms looking to shift large portfolio companies, according to Ivano Sessa, partner at Bain Capital, who spoke to PE Hub’s Craig McGlashan in the latest of our 2025 Outlook pieces.

 

Premium subscribers can read more here.

 

The full interview, which includes Sessa’s thoughts on potential obstacles for dealmaking, can be found here.

 

Advanced talks

CVC Capital Partners is in advanced discussions with the founding family of CompuGroup Medical to take the Frankfurt-listed business private.

 

For more on that, including the deal value, take a look at the full Wire coverage here.

 

Safe and secure

With the increase in complexity and the number of cyber threats, businesses offering ways to minimize risks are of great interest to private equity. Keensight Capital is the latest to make a move in the segment, having agreed to acquire MetaCompliance, a European human risk management software vendor, from Tenzing.

 

To learn more about the deal, check out the premium Wire coverage here.

 

For more on private equity’s interest in cybersecurity, check out my colleague Irien Joseph’s take on the segment here.

 

That’s all from me this morning. MK Flynn will bring you the US edition later today, and Irien Joseph is in the Europe chair tomorrow, as we switch up the schedule due to vacations.

 

Cheers,

Nina

 

 

Read the full Wire commentary on PE Hub ...

Today's must reads

> Bain Capital’s Ivano Sessa: ‘Quietly confident’ on European dealmaking in 2025 More...
> Skepticism of PE-backed healthcare deals likely to continue under next FTC chair More...
> Private equity active in the infusion services market: 6 deals More...
> Automated software testing is gaining share, prompting GTCR's interest: Nelson Iginla More...
> Partners Group to build 'local clusters of scale' with Bluesea Hotels M&A More...

Also of note (may require subscriptions)

 

Will exit activity surge or sputter in 2025? Because of their significance to the private equity industry, there will be a lot of eyes on exit trends in the months ahead. (Buyouts)

 

Coller: Performance issues key factor in declining re-ups. The survey findings come as some LPs dial back their appetites for private equity due to performance concerns. (Private Equity International)

 

HSBC targets secondaries, co-investments with family office program: The program involves both GP-leds and LP-leds, Mathieu Forcioli, global and APAC head of alternatives for HSBC Global Private Banking, tells Secondaries Investor.

 

Roundtable: Infra secondaries – a buyer’s market. Infrastructure secondaries are enjoying a surge in dealflow and limited competition thanks to significant barriers to entry, seven specialists tell Infrastructure Investor. (Infrastructure Investor)

 

Northvolt’s bankruptcy offers a stern reminder to sustainability-minded investors. The troubles experienced by Europe's best-funded start-up show that investing in the energy transition is not as easy as it looks. (New Private Markets) 

Deals

> CVC Capital in talks to take CompuGroup Medical private More...
> Inflexion invests in darts company Nodor More...
> Silver Investment Partners-backed GPW Group adds on Orly Pharma More...
> Deutsche Beteiligungs invests in Great Lengths More...
> Keensight Capital to take majority stake in MetaCompliance from Tenzing More...
> Platinum Equity invests in HVAC/R components distributor Global More...
People
> O2 Investment Partners-backed Stronghouse Solutions appoints Colmone as CFO More...
> KKR names Andrew Williams as executive advisor More...
> HOOPP appoints former OMERS executive Wallace as CEO More...

They said it

“First and foremost, the leverage market is back with significant demand from investors, and interest rates have started to go down. This has created a good dynamic for LBO deal activity in Europe.”

— Ivano Sessa, partner, Bain Capital

 

Today's letter was prepared by Nina Lindholm

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