Morning all, Craig McGlashan here with the Europe Wire from the London newsroom.
We double up on medical diagnostics this morning, first as Archimed’s Vincent Guillaumot talks us through his firm’s sale of Diesse and reveals plans for another play in the sector.
Next, we look at MidEuropa’s listing of Polish medical diagnostics services provider Diagnostyka as well as reports of Carlyle looking to list a chemicals business in the US. The ability of the European IPO market to offer exit routes this year was a subject we covered in depth yesterday.
We then consider potential winners and losers from the US government’s proposed tariffs, courtesy of comment from Datasite’s Merlin Piscitelli.
Finally, we’ve got a trio of GPs opening new offices: Tower Peak Partners, Inflexion and Adams Street Partners.
Expansion options
Archimed is eyeing another diagnostics company after selling Italian business Diesse for €125 million, managing partner Vincent Guillaumot told PE Hub’s Sophie Rose.
Read more, including how Archimed grew Diesse and where the firm sees further growth potential for the business, in the premium version of the Wire.
Going public
Sticking with diagnostic company exits, yesterday I wrote about how many GPs were skeptical about the European IPO market as a route to exit this year, with other options such as continuation vehicles and dividend recaps looking more attractive.
MidEuropa howeverlooks happy with the IPO market, after it listed its portfolio company Diagnostyka, a Krakow-headquartered medical diagnostic services provider,on the Warsaw Stock Exchange on Friday.
Read about the listing performance in the premium version of the Wire.
Another trend I looked at in the piece yesterday was GPs taking European companies to the US to list. It appears that Carlyle is following that route with Amsterdam-headquartered specialty chemicals producer Nouryon, with Bloomberg citing sources familiar with the matter that the GP has filed confidentially for a US IPO of the business. Carlyle declined to comment on the report when approached by PE Hub.
What’s your take on the European IPO market? Open for business or just for a few select names? Get in touch at [email protected]
Tariff talk
The US has announced a 25 percent import tax on all steel and aluminum, following an earlier announcement of 25 percent tariffs on goods from Canada and Mexico – since postponed – and an additional 10 percent tax on Chinese goods.
The tariff proposals could “significantly reshape the M&A landscape this year, creating both challenges and opportunities across sectors,”said Merlin Piscitelli, EMEA chief revenue officer at virtual data room provider Datasite, in a note seen by PE Hub.
Find out Piscitelli's views on which sectors stand to benefit and which strand to lose in the premium version of the Wire.
Location, location, location
A trio of private equity firms have opened new offices.
Read which and where in the premium version of the Wire.
We looked in depth at the advantages of having local offices in this roundup piece late last year.
That’s a wrap for me. Obey Martin Manayiti will write to you from the New York newsroom later today and I’ll be back with you from London tomorrow.
Cheers,
Craig
Read the full Wire commentary on PE Hub ...
