EQT and PSP complete $3bn take private of Radius Global Infrastructure; plus PE market insights from Capstone

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EQT and PSP complete $3bn take private of Radius Global Infrastructure; plus PE market insights from Capstone

Good morning dealmakers, thank goodness it’s Friday.

It’s Obey Martin Manayiti here with the newsletter. We are capping off the week today with a look at a report from Capstone Partners that forecasts that the PE sector is ready to overcome its slow dealmaking pace, with growing momentum expected in Q1 2024.

I will also look at Aria Growth Partners’ investment in LesserEvil, an organic popcorn and salty snacks maker based in Danbury, Connecticut.

But let’s start with some infrastructure news first from EQT and PSP Investments, which completed the $3bn take-private of Radius Global Infrastructure yesterday.

Wireless telecommunication

EQT and PSP Investments announced yesterday the completion of their take-private of Radius Global Infrastructure, a Pennsylvania-based aggregator of real property interests underlying wireless telecommunications cell sites and other digital infrastructure assets.

The deal is valued at $3 billion.

Subscribe to PE Hub to read more about the deal.

State of the market

Capstone Partners, a Boston-headquartered investment bank, released a report yesterday that showed the extent to which the current macroeconomic situation has dampened the M&A market. But there is optimism in the near future.

Highlights include:

• M&A volume is likely approaching or has reached its trough, with deal volume declining 15.9 percent YOY in Q2.

• Middle market dealmaking (under $500 million in enterprise value) has remained more resilient than broader M&A markets, as total transaction volume across all deal sizes declined 24.8 percent YOY in Q2.

Looking further ahead, there could be more positives to come.

To learn more about insights from this report, upgrade to the premium version of the Wire.

More popcorn please

I love popcorn and I'm guessing you do too!

Earlier in the week, Aria Growth Partners made an investment in LesserEvil, a Danbury, Connecticut-based maker of organic popcorn and salty snacks.

Valor Equity, Invest Eco and Touch Capital also participated in the investment.

Reach out to me at [email protected].

That’s it for this week.

MK Flynn will be back with the newsletter on Monday.

Have a nice weekend,

Obey

Read the full Wire commentary on PE Hub ...

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