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The Wire

Private equity deal news and insights from the London newsroom

Apr 3, 2025

 

Tariff prep tips; Partners in single-asset continuation deal; Extens-backed Imagine Human makes add-on

Good morning, Nina Lindholm here with the Europe Wire from the London newsroom.

 

As the world wakes up to the latest tariff announcement from the US, this morning seems an apt time to collate thoughts from dealmakers PE Hub has interviewed on the topic. We have snippets from interviews with TSG Consumer Partners, Cinven and Advent International.

 

Next, we have waste management deal, as Partners Group has agreed to acquire a “significant” minority stake in a business in Spain as part of a single-asset continuation fund deal.

 

To finish, we have an add-on deal by Extens-backed Imagine Human.

 

Tariff tension

The US announced a new set of tariffs yesterday via an executive order. As we wait for concrete actions, I wanted to gather some thoughts from dealmakers regarding tariffs PE Hub has reported on.

 

To learn how firms such as TSG Consumer Partners, Advent International and Cinven have prepared for tariffs, check out the premium Wire.

 

PE Hub is keen to hear your thoughts on the latest tariff announcement. Drop me a line at nina.l@pei.group for comments or to organize a chat.

 

Holding on

Stepping away from consumer and moving over to biogas. Partners Group has agreed to acquire a “significant” minority stake in Gestcompost, an organic waste treatment manager in Spain.

 

For details on what makes Spain a great destination for this deal, take a look at the full Wire coverage.

 

Spain's positive tailwinds have attracted other PE firms too. Just last week, PE Hub listed nine recent deals in the country.

 

Adding on

Let’s finish with one more deal. Extens portfolio company Imagine Human Group has acquired Saphir Consult and its product Qualipro, a software for managing quality, occupational health and safety, environmental (QHSE) certifications.

 

Check out the premium Wire to learn how Extens plans to grow Imagine Human.

 

That’s all from me this morning. Michael Schoeck will write to you late with the US edition, while Irien Joseph is on Europe duty tomorrow.

 

Cheers,

Nina

 

 

Read the full Wire commentary on PE Hub ...

Today's must reads

> Partners Group acquires board seats as part of single-asset deal More...
> ATL Partners vets buyout interest in live entertainment logistics provider, sources say More...
> Leonard Green runs two continuation fund processes across five assets, sources say More...
> Pro team prices are soaring, and PE firms are eager to get in on the game More...
> Intra-European healthcare deals: A complex process More...

Also of note (may require subscriptions)

 

Plannera emerges to guide alts-hungry Saskatchewan pensions: Plannera was launched last year in part to advise on decisions about allocating capital to private equity and other alternative asset classes, a top priority for its two largest Saskatchewan pension clients. (Buyouts)

 

APAC’s fundraising slowdown gives LPs more room to breathe: Funds are taking 20 months on average to close in the current environment, according to Private Equity International’s 2024 Fundraising Report.

 

Green energy – it’s all about the money: Renewables takes the shine off fossil fuels as LCOE data confirms green energy as the cheaper option for new capacity almost everywhere. (Infrastructure Investor)

 

Coller snaps up $1.6bn LP-led credit portfolio from American National: Credit transactions accounted for 8% of the total $89bn LP-led volume last year, according to a report from Evercore. (Secondaries Investor)

 

Prologis’s public-private juggling act: Being a public REIT with a private capital business will require adeptly managing potential conflicts between the two. (PERE)

Deals

> Partners Group acquires board seats as part of single-asset deal More...
> Bessemer Investors-backed Tencarva buys Atlantic Valve More...
> Extens backs Imagine Human’s acquisiton of Saphir Consult More...
> ATL Partners vets buyout interest in live entertainment logistics provider, sources say More...
> Summit Partners makes majority growth equity investment in Simply.TV More...
> SeaFort-backed Mable Health snaps up Anderson Orthopedics More...
People
> Oryx Global appoints Michael Ho as partner More...
> BGF adds Rory McPherson to its Scotland team More...
> Cornerstone names Tomasz Dąbrowski as managing partner More...

They said it

“Anticipated tariffs have driven a stockpiling of certain inputs for hard goods and that can give you price protection for a period. After those supplies wear off, you get a price shock.”

— Beth Pickens, managing director and head of London, TSG Consumers Partners

 

Today's letter was prepared by Nina Lindholm

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