Europe edition, free version

View this email online 

 
 

The Wire

Private equity deal news and insights from the London newsroom

Sep 4, 2024

 

Exit timing key in Europe as LPs seek liquidity; Oakley’s logistics biz in first bolt-on; Inflexion makes double hire

Good morning, Hubsters.

 

I’m Craig McGlashan, PE Hub Europe editor, here in the London newsroom, with the Europe edition of the Wire.

 

Apologies for the delay in today's posting.

 

Today is a big day for us: PE Hub and PE Hub Europe have merged into a single, unified PE Hub platform, as part of our commitment to providing you with a richer, more comprehensive view of the private equity deals landscape. It’s a win-win for our whole audience: PE Hub readers gain access to our in-depth coverage of European PE dealmaking, and PE Hub Europe readers gain access to our in-depth coverage of North American PE dealmaking.

 

Beginning today, you’ll receive two editions of the Wire each weekday.

 

First to hit your inbox is this Europe edition (formerly called Dealflow). Timed to London’s morning, the Europe edition is produced by the London newsroom and features PE deals with targets in Europe.

 

Later, you’ll receive the US edition, timed to New York’s morning, produced by the New York newsroom and featuring PE deals with targets in North America. In a few hours, PE Hub editor-in-chief Mary Kathleen (MK) Flynn will bring you today’s US edition.

 

In both editions, you’ll find the latest PE dealmaking insights, key transactions and expert analysis from across North America and Europe.

 

Speaking of additions (pardon the pun), we’ve also grown the PE Hub team here in London, with Sophie Rose coming aboard as a reporter this week. Sophie joins us from Alliance News. You can reach her at sophie.rose@pei.group.

 

To showcase our European coverage, today we’re spotlighting our Europe Outlook series. Reporter Nina Lindholm has compiled highlights from our recent series to deliver insights from Ardian, Bain Capital, Blackstone and Oakley Capital and others.

 

Elsewhere this morning, Irien Joseph has a fresh deal to report, as Oakley Capital portfolio company Alerce buys a fleet management business in Madrid.

 

Meanwhile, we’re not the only ones expanding our team. Irien reports on UK mid-market private equity firm Inflexion making a couple of hires.

 

If you want to get in touch with any of the London team, please drop us an email.

Craig McGlashan – craig.m@pei.group

Nina Lindholm – nina.l@pei.group

Irien Joseph – irien.j@pei.group

Sophie Rose – sophie.rose@pei.group

 

Under pressure

LPs’ growing need for liquidity is leading European GPs to be particularly attentive to distributed to paid-in capital (DPI) and the timing of their exits, writes Nina Lindholm.

 

Find out why in the premium version of the Wire.

 

First bolt-on

Oakley Capital portfolio company Alerce will acquire a fleet management and telematics SaaS provider in Iberia, writes Irien Joseph.

 

More details in the premium version of the Wire.

 

Double hire

Inflexion has appointed a pair of partners.

 

Find out who in the premium version of the Wire.

 

Right, that’s it from me today. MK Flynn will write to you later today in the New York morning with the US edition, and I’ll be back tomorrow with another newsletter from Europe.

 

Speak then.

 

Craig

 

Exciting news

PE Hub and PE Hub Europe have merged into a single, unified PE Hub platform, as part of our commitment to providing you with a richer, more comprehensive view of the private equity deals landscape. It’s a win-win for our whole audience: PE Hub readers gain access to our in-depth coverage of European PE dealmaking, and PE Hub Europe readers gain access to our in-depth coverage of North American PE dealmaking. simply log in to the PE Hub platform, using your PE Hub or PE Hub Europe account email address, to access the latest dealmaking insights, key transactions, and expert analysis from across both regions.

 

Whether you’re looking to stay on top of the market or find your next big opportunity, our richer, more comprehensive deals coverage will keep you ahead of the curve.

 

Reach out to subscriptions@pei.group to book a no-obligation tour of PE Hub’s newly expanded deals coverage.

 

Read the full Wire commentary on PE Hub ...

Today's must reads

> Back to school: Private equity dealmakers are bullish again on education More...
> Pressure from LPs among the factors facilitating exits, European dealmakers say More...
> Carlyle seeks SAP players in Western Europe and US to bolster Seidor More...
> Exclusive: Invidia's Jo Natauri talks new hires and decision to start her own firm More...
> Kian-backed PARC Auto could double in locations by next year More...

Also of note (may require subscriptions)

 

Carry tax increase in the UK: Anarchy for PE or a new reality? In this podcast, Michael Graham, a partner at law firm DLA Piper who specialises in tax for private funds, discusses what a rise in carried interest tax rates could mean for the industry. (Private Equity International)

 

LPs foot the bill for ‘last mile’ legal costs in fund stake transfers: Transfer agreements are seen as a $100,000 'copy and paste job' by some and 'complex legal contracts' that law firms are losing money on by others. (Buyouts)

 

Is the UK water sector uninvestable? A new regulatory period looms but attracting much needed capital when ‘investors can earn a higher return with much less risk’ elsewhere will be an uphill struggle. (Infrastructure Investor)

 

Partners Group seeks to straddle ‘co-existing’ markets: Andrew Bellis, head of private debt at Partners Group, discusses the complementary nature of the broadly syndicated loan and private debt markets. (Private Debt Investor)

 

Flagship Pioneering looks to add food production to its bow: The human health specialist has established a quartet of food value chain companies focused on improving the sector’s sustainability and now wants to move upstream. (Agri Investor)

Deals

> Agricultural solutions provider Exacto lands investment from Skyline and S2G More...
> HCPI-backed Prince Industries buys manufacturer Keystone Precision & Engineering More...
> TPG Rise Climate snaps up climate tech firm Miratech More...
> Hg acquires fintech firm Ncontracts More...
> Orthotics brands provider Foundation Wellness grabs investment from Bansk Group More...
> Audax Strategic Capital invests in Charterhouse-backed Amtivo More...
People
> Attain Capital taps Wynn as strategic advisor More...
> AEI promotes Lusczakoski to principal More...
> Rotunda Capital invests in Lehman Pipe and Supply Inc More...

They said it

“We are seeing more attractive bids for assets – but it will take time, and markets are still recovering compared to the highs we witnessed a few years ago.”

— Juergen Pinker, senior managing director, Blackstone

 

Today's letter was prepared by Craig McGlashan

Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article.

FIND OUT MORE
 

London | New York | Hong Kong | Tokyo | Sydney

PEI Group Ltd is registered in England no.6135779

Registered office: 5th Floor, 100 Wood Street, EC2V 7AN

LinkedInTwitter
 

To update your PE Hub email preferences, or to unsubscribe, click here.