Good morning, Nina Lindholm here with the Europe Wire from the London newsroom.
While deals are still getting done, the processes are slower, several sources have told me. This has not shaken some dealmakers’ resolve in the market. This morning, we hear from Ardian’s Thibault Basquin what the firm’s approach is to transacting in an environment where buyers remain cautious.
Next, we have an exit, as Main Capital has sold a digital identity verification software business to a Nordic Capital-backed company.
Shifting our focus to food and logistics, with Mutares agreeing to acquire a Spanish transportation company operating across the food supply chain.
We finish with something sweet. Eurazeo has entered exclusive discussions to sell a European confectionery and chocolate business.
Continued momentum
Ardian has doubled down on its operational value creation program for its portcos amid a dealmaking environment where buyers remain cautious, Thibault Basquin, co-head and CIO of Buyout, toldme. But while deal processes are taking longer, the French PE house considers the opportunity set in Europe to be strong for those with local relationships.
The Paris-based investor’s recent deal activity includes an agreement to acquire French renewable energy company Akuo and the sale of a 35 percent stake in independent chemical-focused storage business LBC.
I caught up with Basquin to learn about Ardian’s outlook for the second half of the year. You can learn more in the premium edition of the Wire.
To learn more about what subsectors Ardian finds appealing and what Basquin’s thoughts are on the exit market, check out the full interview.
Verifying identities
Exits are also trudging along, despite the caution among buyers. Main Capital Partners has sold its majority stake in Inverid, a near field communication-based digital identity verification software provider, to Nordic Capital portfolio company Signicat.
To find out how Main has grown the company since acquisition, check out the full Wire coverage.
Food to go
Moving away from tech to fuel the week with a couple of food-related deals. First up, Mutares has agreed to acquire Lineage Spain Transportation (Fuentes) from Lineage Group.
Want to find out Fuentes' planned revenues for 2025? Take a look at the premium Wire coverage.
Sweet deal
To finish, we have Eurazeo entering discussions to sell CPK, a European confectionery and chocolate business, to Ferrara Candy Company.
To find out the expected proceeds to Eurazeo's balance sheet, take a look at the full Wire coverage.
That’s all from me this morning. MK Flynn will bring you the US edition later today, while Craig McGlashan is on Europe duty tomorrow morning.
Cheers,
Nina
Read the full Wire commentary on PE Hub ...
