Good morning, Nina Lindholm here with a special combined Europe and US Wire from the London newsroom as the New York office is shut due to Juneteenth observance.
We kick things off with a potential upcoming sale, as Lone Star Funds is expected to test the market later this year for a global manufacturer of pumps, valves, mixers, filters and heat products, three sources briefed on the matter told PE Hub’s Michael Schoeck.
Sticking with the topic of active and potential deal processes. Speaking at a media roundtable, François Feuillat, partner at law firm Bracewell, explained how energy dealmakers have adjusted to uncertainty around tariffs and what sort of deals we might see in the coming months.
To finish, let’s take a look at an exit route that might be slowly gaining momentum: IPOs. Blackstone-backed international gambling company has announced its intention to go public. We also take a look at EQT portfolio company Enity’s recent listing.
Testing the waters
Seasoned US Wire readers will be familiar with my colleague Michael Schoeck’s recurring item on companies for sale. Let’s delve into his latest reporting.
Lone Star Funds is expected to test the market later this year for SPX Flow, one of the largest global manufacturers of pumps, valves, mixers, filters and heat products, three sources briefed on the matter told Michael.
To learn more about the potential sale, including advisers Lone Star has enlisted, take a look at the premium Wire.
More flexibility
Bracewell is seeing an upsurge in energy deal activity in Europe, although deal completions remain modest, François Feuillat, partner, said at a media roundtable attended by PE Hub. Bracewell's London office is exclusively dedicated to the energy sector.
Check out the premium Wire to learn what types of deals Feuillat expects in the coming months and how deal negotiations have changed.
Amanda Tonsgaard, partner and head of investor relations at AIP Management, told PE Hub recently that tariffs introduce “another layer of complexity” into an already challenging environment for energy infrastructure.
Law firm Vinson & Elkins’ Nadine Amr and Alex Lee also spoke to PE Hub about a slowdown in investment decisions.
IPOs in
Several sources I’ve spoken to have sounded hopeful about the IPO market picking up speed, but were hesitant to make firm predictions, considering the beating the public markets have taken recently.
A couple of big PE firms have opted for the listing route for their portcos in the last week. Blackstone-backed Cirsa Enterprises, an international gaming platform, has announced its intention to launch an IPO.
Over in the Nordics, EQT portfolio company Enity, a specialist mortgage provider, began trading on Nasdaq Stockholm on 13 June.
For price details and revenues, head over to the premium Wire.
Is this a sign for more IPO activity on the horizon? Send me your thoughts on [email protected].
That’s all from me. Irien Joseph will write to you next with the Europe Wire, while John R Fischer is in the US chair, as the normal Wire schedule resumes tomorrow.
Cheers,
Nina
Read the full Wire commentary on PE Hub ...
