Morning all, Craig McGlashan here with the Europe Wire from the London newsroom.
The elevator industry has been attracting private equity interest over the last few weeks, so we start with news that LDC-backed Deltron Group has made a string of add-ons.
Turning to aviation, we have KKR and Skip Capital agreeing to buy a majority stake in an Australian airport operator.
Next, we have news of Clayton, Dubilier & Rice-backed UK supermarket chain Morrisons entering a sale and leaseback agreement.
Sticking with the UK, there was a big deal in the legal sector, with Investcorp acquiring Stowe Family Law from Livingbridge.
Finishing up, we have some positive figures on European IPOs from EY.
Lift up
We’ve got a deal that’s of particular interest to me because the elevator in my building is undergoing renovation.
LDC-backed Deltron Group has acquired five complementary businesses to promote growth across the UK, the company said this morning, and more could be on the way.
Find out more in the premium version of the Wire.
Lift off
KKR and Skip Capital have agreed to acquire a stake in Queensland Airports from the Infrastructure Fund, managed by Macquarie Asset Management, State Super and Australian Retirement Trust.
More details in the premium version of the Wire.
Leaseback
Clayton, Dubilier & Rice-backed UK supermarket chain Morrisons this morning said it had signed a ground rent financing deal.
Details including the size in the premium version of the Wire.
Law move
Investcorp has acquired Stowe Family Law, a family law business in the UK, from Livingbridge.
IPO optimism
What better way to finish than with some exit news.
The global IPO market showed signs of “cautious optimism” in the third quarter, according to a new report from EY.
Find out more in the premium version of the Wire.
IPOs of private equity-backed companies in Europe we’ve covered in depth this year include Triton Partners’ IPO of drive product manufacturer Renk Group.
Right, that’s it from me today. Michael Schoeck will bring you the US Wire later today, while Irien Joseph will be in the Europe chair tomorrow.
Cheers,
Craig
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