Morning all, Craig McGlashan here with the Europe Wire. It’s a busy morning in the London newsroom. First up we interview Leon Capital about its investment alongside Nuveen Private Equity Impact in climate and sustainability consultancy Longevity Partners, a deal being announced later today. Next, we speak to Bridgepoint Development Capital’s Matt Legg about his firm’s add-on plans for supply chain management business Achilles Information. Sticking with Bridgepoint, the company has just agreed a recommended cash acquisition of Eckoh, a data security company for customer contact centers. Elsewhere in data, Bain Capital is buying a stake in AQ Compute, the data center subsidiary of private investment company Aquila Group. Switching sectors, ECI Partners has invested in pensions trusteeship and governance services provider Independent Governance Group. We’ve got more premium clothing news, as Palladio Holding portfolio company Nice Footwear has made two acquisitions. Finally on deals, Cinven has agreed to sell a another minority stake in Synlab, a medical diagnostic services and specialty testing provider. And of course, it’s Budget day here in the UK and private equity firms will be wondering whether chancellor Rachel Reeves has tricks or treats in store ahead of Halloween. Will there be a hike in capital gains tax? We covered a report from accountancy and business advisory firm Lubbock Fine a little while back suggesting that UK M&A jumped in part because entrepreneurs wanted to cash out before any potential rises. The other thing keeping PE up at night is a rumoured change to carried interest taxation – check out this note from our colleagues from Private Equity International for more on that. Going green Leon Capital and Nuveen Private Equity Impact have made a majority investment in Longevity Partners, a climate and sustainability consultancy for the real estate and infrastructure sectors, the firms will announce later today. PE Hub spoke to Leon Capital to find out the drivers behind the deal and its growth plans for the business. Find out details in the premium version of the Wire. Supply chain demand Bridgepoint is looking at more potential add-ons for Achilles Information, as it hopes to boost its name in the supply chain management industry, Matt Legg, partner at Bridgepoint Development Capital, told PE Hub’s Sophie Rose. Read more in the premium version of the Wire. Data protection Meanwhile, Bridgepoint has just reached agreement on a recommended cash acquisition of Eckoh, a data security company for customer contact centers. Details, including the size of the offer, EBITDA multiple and estimated premium, are available in the premium version of the Wire. (Note: Bridgepoint owns PEI Group, the publisher of PE Hub.) Big on data From data protection to the booming data center market, where Bain Capital is buying a stake in AQ Compute, the data center subsidiary of private investment company Aquila Group. Pension play ECI Partners has invested in Independent Governance Group (IGG), a professional pensions trusteeship and governance services provider. Foot forward Palladio Holding portfolio company Nice Footwear has made two acquisitions: Corrado Maretto and Dyva. Private equity has been placing bets on premium clothing businesses lately. Permira agreed a few days ago to buy a minority stake in K-Way, a French premium outerwear brand. Minority sale Cinven has agreed to sell a minority stake in Synlab, a medical diagnostic services and specialty testing provider, to financial investor Elliott Advisors. Read about some of Cinven's other recent Synlab deals in the premium version of the Wire. Right, that’s all from me today. I’m on holiday tomorrow (I need one after covering so much this morning!) so Nina Lindholm will bring you the Europe Wire, while Michael Schoeck will bring you the US Wire later today as usual. Cheers, Craig Read the full Wire commentary on PE Hub ... |