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The Wire

Private equity deal news and insights from the London newsroom

Nov 26, 2024

 

Keensight Capital in physical security software deal; RedBird’s Bishop Street picks up insurer

Good morning, Nina Lindholm here with the Europe Wire from the London newsroom.

                                                                                                         

Heightened threats such as civil unrest and geopolitical tensions highlight the need for good security systems. Cybersecurity deals are a common occurrence here at PE Hub, but this morning we kick off with a deal that converges physical security and software, as Keensight Capital acquires a minority stake in a physical security information management software business.

 

We then switch to a different type of security, insurance. RedBird Capital Partners portfolio company Bishop Street Underwriters is set to acquire a London-based specialty-focused managing general agent.

 

We’ll finish with a traffic management deal, with Equistone-backed Buko adding on Hooke Holdings.

 

Safe and secure

We kick off with a deal in the security segment this morning, as Keensight Capital has acquired a minority stake in Advancis Software & Services, a global physical security information management software provider, alongside founders Hartmut Noell and Jan Meiswinkel.

 

For more on the deal, check out the premium Wire coverage here.

 

Multi-jurisdictional

Switching over to insurance next. RedBird Capital Partners portfolio company Bishop Street Underwriters will acquire Landmark Underwriting, a specialty-focused managing general agent in the London insurance market.

 

To learn more, take a look at the full Wire coverage here.

 

Road safety

As the temperatures drop here in the UK and the roads get icy, what better way to finish than a traffic management deal. Equistone Partners Europe portfolio company Buko Traffic & Safety has acquired Hooke Holdings, the parent of the operating subsidiary and brand Hooke Highways, a traffic management provider.

 

Take a look at the premium Wire coverage to learn more.

 

That’s all from me. Obey Martin Manayiti will bring you the US edition of the Wire later today, and Craig McGlashan will be with you tomorrow with the Europe Wire.

 

Cheers,

Nina

 

Read the full Wire commentary on PE Hub ...

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Today's must reads

> EQT's Eric Liu: FTC leadership change likely to improve dealmaking, but heightened attention on PE will remain More...
> Exclusive: Arlington Capital acquires medical manufacturer Team Tech from Clearlake More...
> Triton sees ‘big potential’ in MacGregor’s aftermarket business More...
> Occupational health pulls in PE backing: 7 deals More...
> 15 fintech deals: Private equity capitalizes on AI opportunity More...

Also of note (may require subscriptions)

 

Australian superfund regulators increase unlisted asset scrutiny: APRA will soon publish a review into how superfunds value unlisted assets, with ASIC supporting the work as it considers systemic risk to the wider financial system. (Private Equity International)

 

Border to Coast’s Smith: This is the right time to buy: With its partner funds around £850m underweight to UK real estate, the LGPS pool is poised to begin deploying from its latest vehicle, says head of real estate Alistair Smith. (PERE)

 

MSCI tables stricter weapon screening, biodiversity and human rights exclusions: US index and data giant will also adopt new oil and gas exclusions in response to EU regulatory expectations. (Responsible Investor)

 

Blackstone, EQT Corp form $3.5bn joint venture: Manager will refinance $2.8bn of EQT’s debt and get an equity interest in the natural gas firm valued at $8.8bn. (Private Debt Investor)

 

Firms leveraging AI for compliance tasks: Firms are using AI to review marketing materials and legal docs, manage compliance tasks and assist with risk management. (Private Funds CFO)

Deals

> Keensight Capital takes minority stake in Advancis More...
> RedBird-backed Bishop Street to acquire UK's Landmark Underwriting More...
> Accel-KKR-backed Vitu buys Dealertrack registration and titling businesses More...
> Sagewind Capital makes eighth govtech deal with Aechelon More...
> Mubadala Capital to take CI Financial private for $3.4bn More...
> Blackstone to buy energy group EQT’s midstream assets for $3.5bn More...
People
> Brightstar names Charles Yoon as partner to lead new lower mid-market strategy More...
> Red Dog Equity-backed Mammoth Holdings taps Emerson as president and COO More...
> Transom Capital taps Goldstein as IR and marketing head More...

They said it

“Having a multi-jurisdictional footprint is a core strategy for us and we’re looking forward to leveraging Bishop Street’s existing platform and distribution relationships to drive organic and inorganic growth in the UK and other global markets with the Landmark team.”

— Mike Zabik, partner, RedBird, on the acquisition of Landmark Underwriting

 

Today's letter was prepared by Nina Lindholm

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