Good morning, Hubsters. MK Flynn here with the Wire. Hope you had a good Barbenheimer weekend! The working week is off to a strong start, with a big exit just unveiled by Blackstone. Supply chain software continues to draw private equity interest – GTCR is buying a company in the sector from Warburg Pincus, and there’s a recent report on the trends driving deals in the industry. We’ve also got a look at how one PE firm is leveraging the movement to modernize the Internal Revenue Service. We’ll kick things off with the big exit. Recession-resilient sector Public Storage has agreed to acquire Simply Self Storage from Blackstone Real Estate Income Trust (BREIT) for $2.2 billion, as Iris Dorbian reports. The deal is expected to close in the third quarter. Subscribe to the premium version of the Wire to learn about how BREIT grew the company under its ownership – and also what it paid for the target a few years ago. Supply chain specialist Chicago-based GTCR has agreed to acquire Once For All, a compliance and supply chain management software provider based in Basingstoke, UK and Paris, from Warburg Pincus, as Irien Joseph reports. Warehouse management Harris Williams published a report highlighting trends driving deals the investment bank worked on in the sector recently, such as IKEA franchisor Ingka Group’s recent acquisition of Made4net from Thompson Street Capital Partners. Subscribe to PE Hub to learn about the areas of opportunities Harris Williams sees. IRS upgrade The federal government’s push to modernize the Internal Revenue Service over the next decade inspired IMB Partners to invest in eTelligent Group, Tarrus Richardson, the founder and chief executive of the Bethesda, Maryland-based private equity firm, told Obey Martin Manayiti in an interview about the deal, which was announced earlier in July. Upgrade to the premium version of the Wire to read more about the strategy. That’s all for today. Tomorrow, we’ll begin a new rotation on the Wire, with Craig McGlashan writing to you on Tuesdays. Craig is the editor of PE Hub Europe, but on Tuesday mornings, he’ll be focused on deals in North America. And on Wednesday’s, Buyouts’ Chris Witkowsky will continue to write to you. I’ll be back on Thursday. One more bit of “housekeeping:” I’ve got a new email address as of today. It’s mk.flynn@pei.group. Please reach out to me there! Happy dealmaking, MK Read the full wire commentary on PE Hub ... | 