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Bain Capital takes PowerSchool private, plus 6 PE-backed bakery deals

Good morning dealmakers, thank goodness it’s Friday.

It’s Obey Martin Manayiti here with the newsletter.

We are starting this morning with the news that Bain Capital has agreed to take PowerSchool private.

Next, we will look at Greenbriar Equity Group’s recent acquisition of Sunvair Aerospace Group, and what the firm said attracted it to the deal.

And for the trend of the week, we have a listicle featuring a half dozen PE-backed deals focusing on bakeries.

I will conclude with a look at a recent KPMG first quarter report on the energy, natural resources, and chemicals (ENRC) sector, including what a partner at KPMG told PE Hub about PE’s appetite in the midstream segment.

Ed-tech

Bain Capital has agreed to acquire PowerSchool, a provider of cloud-based software for K-12 education based in Folsom, California.

Premium subscribers have access to more on this deal.

Aircraft MRO

A delay in new aircraft deliveries is helping drive an increased need for repair services in airlines’ existing fleets, according to Noah Blitzer, a managing director at Greenbriar Equity Group, following his firm’s recent acquisition of Sunvair Aerospace Group.

Upgrade to the premium version to get more on this deal.

Bakeries ripe for consolidation

Over the first half of 2024, there has been significant private equity interest in bakeries, writes my colleague Rafael Canton.

Rafael rounded up these six deals, and premium subscribers have access to all the deals.

Mid-stream segment

KPMG recently released 2024 first quarter report on energy, natural resources, and chemicals (ENRC) sector which shows a strong appetite for consolidation and asset acquisitions, specifically within the oil and gas (O&G) industry.

Premium subscribers have access to more, including insights from Brandon Beard, a deal advisory and strategy partner in KPMG’s energy, infrastructure and chemicals practice.

Click here for some of our coverage on this sector and more here.

That’s it for today. You can always reach me at obey.m@pei.group for news tips.

MK Flynn will be back with the newsletter on Monday.

Have a nice weekend,

Obey

Read the full Wire commentary on PE Hub ...

Also of note (may require subscriptions)

A Bermuda corporation launched by the late Robert Brockman, the man accused of running what has been called the largest individual tax fraud in US history, is exploring the sale of a portfolio of interests in funds and co-investments primarily managed by Vista Equity, two sources told Buyouts.

Things are looking brighter in the smaller side of PE: In a way, the 'exit' challenge gives emerging firms, smaller buyout shops and even first-timers an advantage over more established GPs. (Buyouts)

Summit Partners, a pioneer of growth equity investing, is looking to raise $9 billion for a 12th flagship offering. (Buyouts)

In a commentary on Private Equity International, editors Adam Le and Alex Lynn write that the US court of appeals decision to render null and void the SEC’s private fund rule doesn’t signal the end of efforts to better protect investors.

Impact investors are rethinking emerging markets’ ‘too risky’ reputation. Macro conditions, financial innovation and bountilful impact opportunity are changing investors' views of emerging markets. (New Private Markets)

Amid a revived broadly syndicated loan market, private debt firms must decide whether to keep competing. (Private Debt Investor)

Identity.vc, a Berlin firm focused on LGBTQ+ founders, has held a first close on €15 million for its inaugural fund, which is targeting €50 million. Identity.vc joins a small group VC funds focused on improving access to fundraising for LGBTQ+ entrepreneurs. Others include Chasing Rainbows of San Francisco; Colorful Capital of Chicago; Gaingels of New York; and Pride Fund 1 of Columbus, Ohio. (Venture Capital Journal)

They said it

“The component MRO sector has attractive long-term fundamentals underpinned by the growing fleet of aircraft globally, increased utilization of aging aircraft, and significant barriers to entry resulting from high technical complexity and stringent regulatory requirements.”

— Noah Blitzer, a managing director at Greenbriar Equity Group following his firm’s acquisition of Sunvair Aerospace Group.