Good morning Hubsters. Michael Schoeck back with you from the New York newsroom. Dealmakers are hoping activity will pick up in the second half of the year. I’m starting to hear about more companies coming up for sale, suggesting the hope may be well founded. In that vein, we’ll highlight an aerospace, defense and government services-focused PE firm that is interviewing banks for the sale of a 2019 aerospace parts portfolio company. Next we’ll delve into my weekly companies for sale update, which highlights a bump up in companies to be testing the market in the near-term. And we’ll wrap it up with two new energy deals involving Texas upstream and midstream companies. Let’s kick off with a fresh company for sale scoop. Forging an exit Arlington Capital Partners is conducting a bake-off for the retention of an adviser to shop aerospace parts company Forged Solutions Group in the next few months, sources briefed on the matter told PE Hub. Arlington Capital declined to comment for this article. FSG did not respond to a request for comment. Subscribers to the premium version of the Wire can access the full story, with details on the company and other aerospace market valuations. Companies for sale rebound This year I’ve been briefed on more than 100 companies coming to the market by PE firms, founder-owned companies or strategic carveouts. At this time last year I had been briefed on 10 percent more companies coming to market. Premium Wire subscribers can read ongoing PE Hub companies for sale coverage, including scoops and weekly updates such as this. Got tips on a company coming to market? Shoot me a note at [email protected]. Deep in the heart of Texas With the majority of oil and gas PE deal activity said to be centered on the Permian Basin of Texas, it should come as no surprise that following the slow deal start to the year, two new energy deals should emerge with Permian players. In the first deal, NGP Energy Capital Management announced the formation of Greenlake Energy II, its second upstream oil producer since 2021 focused on the Delaware Basin stretch of the Permian formation. In the second energy deal, an investor group consisting of I Squared Capital and strategics MPLX and Enbridge announced the acquisition of a majority stake in the natural gas pipeline, Matterhorn Express Pipeline, from Devon Energy and Ridgemont Equity Partners. Upgrade to the premium version of the Wire for more details on the deals and additional energy deal briefs. That’s a wrap for me. Keep an eye out for the Europe edition of the Wire tomorrow from Irien Joseph and the US edition from John R Fischer.
Cheers,
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