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KarpReilly in first round sale process for Stio; Brigade and Macellum team up to buy Family Dollar for $1 bn

Hello, Hubsters! Rafael Canton here with the US edition of the Wire from the New York newsroom. We have several topics to touch on this morning.

We’ll begin with a scoop. KarpReilly is in the first round of a sale process for outdoor apparel brand Stio that could see the company sell to a strategic or private equity firm, three sources briefed on the matter told PE Hub.

Next, we have Brigade Capital Management and Macellum Capital Management acquiring Family Dollar from Dollar Tree for $1 billion.

After that, we have a deep dive into Bluestone Equity Partners-backed RWS Global acquiring Harmony Helpers.

We’ll finish with a report from Accenture. Dealmakers are utilizing AI in the some parts of the dealmaking process, but not in all of it, according to a survey of 650 M&A and PE professionals.

Outdoor recreation

Let’s kick off with a scoop in the consumer segment. KarpReilly is in the first round of a sale process for outdoor apparel brand Stio that could see the online retailer of hiking jackets and outdoor recreational equipment sell to a strategic or private equity firm, three sources briefed on the matter told PE Hub.

Premium subscribers of the Wire can learn more about the sale process.

Buying at discount

Switching to a freshly announced deal. Brigade Capital Management and Macellum Capital Management will acquire Family Dollar from Dollar Tree for $1 billion.

Subscribe to the premium version of the Wire to learn more about the deal from this morning.

Value in live experiences

RWS Global, a producer of live entertainment shows and a portfolio company of Bluestone Equity Partners, announced earlier in March that it acquired Harmony Helper, a Mount Laurel, New Jersey-based vocal rehearsal app. PE Hub’s Iris Dorbian chatted with Bluestone to learn more about the deal.

PE Hub’s Sophie Rose also recently investigated trends driving private equity interest in live entertainment.

Subscribe to the premium version of the Wire to learn more about Bluestone-backed RWS Global’s deal to acquire Harmony Helper.

Leveraging tech

Let’s finish up with technology. Dealmakers are utilizing AI in some of their dealmaking process, but not in all stages of it, according to a report from Accenture. The report looks at how dealmakers are leveraging tech, AI and generative AI into dealmaking processes. The firm surveyed 650 M&A and PE professionals for the report, which focuses on 12 different stages of the deal lifecycle.

Premium subscribers of the Wire can gain access to the report and also see the statistics that stood out to me.

If you have any questions, thoughts, or want to chat about deals in the tech, consumer or sports sectors, please email me at [email protected].

Tomorrow, Nina Lindholm will be with you for the Europe edition of the Wire and Michael Schoeck will bring you the US edition.

Cheers,

Rafael

Read the full Wire commentary on PE Hub ...

Also of note (may require subscriptions)

Ventura County Employees’ Retirement Association is expected to accelerate its private equity pacing, remaining cautiously optimistic about growing private equity distributions despite the uncertainty brought on by tariffs. (Buyouts)

Managers in the UK and Europe are more likely to use continuation funds as an exit path over the next 24 months, a report from Investec has found. (PE Hub)

Canada hopes pensions will flock to airports: In March, the Canadian government announced that select operations at its national airports will become eligible for private investment. Experts foresee an attractive opportunity for investors with prior airport experience. (Infrastructure Investor)

Through its GP staking business, Capricorn Investment Group has invested in Closed Loop Partners. In the latest episode of The New Private Markets Podcast, investment director Marie-Céline Damnon talks through the strategy and the deal.

Deals

They said it

“We think there’s tremendous value with live entertainment experiences. Part of our investment thesis is to find high-growth, high-barrier-to-entry businesses.”

— Bobby Sharma, founder and managing partner of Bluestone on live entertainment experience in the firm’s add-on deal for Harmony Helper

Today's letter was prepared by Rafael Canton

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