Private equity deal news and insights from the London newsroom

HGGC wins major shareholder backing for Inspired take-private; KKR drops out of GlobalData race; Eurazeo plans cross-border M&A for 3P

Morning all, Craig McGlashan here with the Europe Wire from the London newsroom.

US private equity firms have found the London Stock Exchange a solid source of deals over the last few years and the trend shows no sign of slowing down.

This morning, HGGC won the backing of London-listed Inspired’s largest shareholder for its potential £129 million take-private of the energy and sustainability advisor.

It’s not all plain sailing for US firms as they visit the UK, however. KKR has just dropped out of the race for GlobalData, a data, insights and analytics platform, leaving ICG as the sole interested party.

Elsewhere, Eurazeo is plotting cross-border M&A for its latest potential acquisition, a software publisher specializing in procurement and post-procurement for public-sector institutions.

Triton meanwhile has exited a Danish taxi company, while we have an update – including the MoM – on Charterhouse Capital Partners’ exit from artisanal gelato and pastry ingredients company Casa Optima.

Private equity backing

California-based private equity firm HGGC has won support for its possible £129 million ($174 million; €154 million) take-private of UK-based Inspiredfrom thecommercial energy and sustainability advisor’s largest shareholder.

Find out more on the support in the premium version of the Wire.

Ending talks

Speaking of take-private tussles, KKR has said it will not make a firm offer for GlobalData, a data, insights and analytics platform listed in London.

European scaling

Eurazeo is looking at cross-border M&A for a potential new acquisition.

Read details on the potential deal in the premium version of the Wire.

Joining the fleet

Triton has agreed to sell its portfolio company Dantaxi, a taxi company, to Uber Technologies.

Return details

Now an update on an exit we covered yesterday, Charterhouse Capital Partners' sale of Casa Optima, a global player in the artisanal gelato and pastry ingredients market.

Read the premium version of the Wire for the MoM.

That’s everything from me today. Rafael Canton will write to you with the US Wire later today and Nina Lindholm is in the Europe chair tomorrow.

Cheers,

Craig

Read the full Wire commentary on PE Hub ...

Today's must reads

Also of note (may require subscriptions)

Swiss private bank Julius Baer looks to expand private markets exposure: The bank has onboarded a greater number of private markets evergreens amid a rising focus on exit liquidity, executive director Jason Ng tells Private Equity International.

Wafra’s Capital Constellation targets $1.5bn for latest GP stakes fund: Since its inception in 2018, Capital Constellation has deployed more than $2bn to minority investments in 19 emerging managers, sources told Buyouts.

KKR aims for record haul for third pan-Asia infra fund: KKR intends to raise the largest APAC infrastructure fund on record, beating Fund II’s haul of $6.4bn. (Infrastructure Investor)

SV Health Investors beats target for dementia-focused fund: The fund’s strategic and impact-oriented LPs include big pharma names such as Pfizer, Bristol Myers Squibb, AARP and Alzheimer’s Research UK, which are excited by improved scientific understanding of dementia that promise to increase clinical trial successes. (Venture Capital Journal)

EFM’s longevity in forestry is paying off handsomely: The firm has not previously raised a $100m-plus closed-end vehicle but is now in market with two distinct vehicles that have a combined $500m target. (Agri Investor)

“3P is a perfect match to our ambition to support European software champions in both their organic and external growth. We now look forward to supporting the group by leveraging Eurazeo’s network, resources and experience, especially in cross-border M&A.”

— Clément Morin, managing director small-mid buyout, Eurazeo

Today's letter was prepared by Craig McGlashan

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