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Badia Spices draws bids from private equity; why Partners Group and other PE firms like eye care

Good morning, Hubsters. MK Flynn here with the US edition of the Wire, coming to you from the New York newsroom.

This morning, we’ve got a scoop from senior reporter Michael Schoeck: Badia Spices has received two bids from private equity players, three sources told Michael.

Scroll down for details about the competitive sale process for the family-owned Hispanic food specialist. Coincidentally, yesterday marked the beginning of National Hispanic Heritage Month, which runs from September 15 through October 15.

Also today, we’re featuring John R Fischer’s look at PE dealmaking in eye care, a subsector of healthcare that has generated hundreds of deals over the last five years. John spoke with folks from global advisory firm Stout about the trends driving deals in ophthalmology.

Finally, I’ll have a preview of an event I’m speaking at later in the week.

Chef’s choice

Family-owned Hispanic food specialist Badia Spices has received two bids from private equity players, three sources told PE Hub senior reporter Michael Schoeck.

To learn which PE players have made bids, upgrade to the premium version of the Wire.

Michael writes often about companies coming to market, based on intel from confidential sources. If you’ve got a tip for Michael, send it to him at [email protected].

Windows to the soul

Ophthalmology has seen over 330 PE-backed physician practice management (PPM) transactions over the last five years, according to global advisory firm Stout’s newly released report, Eye Care Industry Outlook 2024. Despite higher interest rates, strong ancillary service add-on potential continues to attract PE to the space.

To learn more, PE Hub healthcare reporter John R Fischer spoke with Stout’s Nick Janiga, managing director, and Daniel Levin, director, about the opportunities and how private equity is helping these businesses scale.

Premium subscribers may read their conversation:

Dear Reader

We’d love to hear from you – either with leads on PE deal news and trends or with feedback on PE Hub, including our recently expanded Europe coverage. Send email to me at [email protected].

Tomorrow, Nina Lindholm will bring you the Europe edition of the Wire, and Craig McGlashan will bring you the US edition.

And on Wednesday, I’ll be talking with Thomas Holzheu, chief economist Americas, Swiss Re Institute, at PEI’s Private Debt Investor New York Forum 2024.

The Federal Reserve is expected finally to begin raising interest rates, and Holzheu will share insights on that topic and other economic issues affecting dealmakers.

I hope to see you there!

Happy dealmaking,

MK

Read the full Wire commentary on PE Hub ...

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They said it

“I don’t think that 25 or 50 basis points is necessarily going to make a big difference, but if we do have several rate cuts over the next couple of months, we should start to see buyers and sellers become more active in the market.”

— Daniel Levin, director, Stout, about conditions for dealmaking in ophthalmology