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Vestar among PE-firms hungry for foodservice; SFW sells Micromeritics at ‘strong valuation’; GTCR-backed Cloudbreak snaps up Voyce

Good morning, Nina Lindholm here with the Friday Wire.

Shifting consumer tastes and increased spending have made private equity hungry for foodservice. This morning, we have a story featuring seven deals in the segment, featuring comments from Tim Alexander, a managing director at investment bank Harris Williams, who walks us through the tailwinds the sector is enjoying.

We then report on SFW Capital Partners completing the sale of Micromeritics Instrument Corporation to Spectris.We’ve got details including the deal size and multiple.

Next, we move over to healthcare services, where GTCR-backed Cloudbreak Health has announced the acquisition of a video remote interpretation services provider for the healthcare industry.

We’ll finish with news of EQT’s chief financial officer relocating.

Changing tastes

The outlook on M&A in foodservice is trending upwards, leading to a string of private equity deals in the sector, my colleague Rafael Canton writes.

Hungry for more? Make sure to check out Rafael’s full story, available here. It features firms such as Advent International and Wind Point Partners.

You can also find out more in the premium version of the Wire.

‘Strong valuation’

SFW Capital Partners has completed the sale of Micromeritics Instrument Corporation to Spectris.

For more on the deal, including the size and multiple, take a look at the full Wire coverage here.

Remote access

Health equity is the principle underlying a commitment to reduce and, ultimately, eliminate, disparities in health and in its determinants. Private equityhas identified an opportunity within that, as GTCR-backed Cloudbreak Health has acquired Voyce, a Sunrise, Florida-based tech-enabled language services provider.

To learn more about the deal, check out the full Wire coverage here.

Relocation

EQT’s chief financial officer Kim Henriksson will be relocating to New York for two years to help increase the firm’s presence in the US, PE Hub understands.

For EQT’s recent US activity, check out the premium version of the Wire.

That’s it from me. I’ll be with you once more next week.

Michael Schoeck will write to you on Monday as MK is on vacation.

Cheers,

Nina

Read the full Wire commentary on PE Hub ...

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Apollo’s clean transition equity team completes first deal: Apollo plans to deploy $50bn for climate solutions by 2027, having already invested over $40bn in energy transition and sustainability in the past five years, according to Olivia Wassenaar. (New Private Markets)

Will the ‘nice guy’ era of secondaries one day come to an end? A recent GP-led process that came across our desks suggests the collaborative nature of the secondaries market is alive and kicking – for now. (Secondaries)

The EIF favours specialist funds as it chases ‘policy alpha’: Investing with intent, the EIF seeks both monetary and political returns from the asset class, says head of infra Gabriele Todesca. (Infrastructure Investor)

They said it

“We have a robust pipeline of potential acquisition targets which supports our overall growth strategy and value proposition for our customers.”

— Ken O’Keefe, managing director and chief operating officer, Vestar