MSCP invests in services for homeowners; Patient Square launches platform for medical device makers

View this email online

MSCP invests in services for homeowners; Patient Square launches platform for medical device makers

Good morning, Hubsters. MK Flynn here with today’s Wire.

After torrential downpours all weekend, the sun is shining brightly in New York this morning.

Here’s hoping that First Republic Bank has found a safe harbor in JPMorgan Chase & Co. and that the deal marks the beginning of the end for this year’s wave of banking woes.

In private equity deals this morning, there are plenty of bright spots.

Catching my eye are three deals announced today:

• Morgan Stanley Capital Partners is betting on a pair of residential services providers.

• Patient Square Capital is launching a new platform for medical device makers.

• And Coral Tree Partners is bringing together two companies to form an integrated communications company.

Let’s get to those deals now:

Roof repair

PE Hub’s Obey Martin Manayiti was the first to report that Morgan Stanley Capital Partners (MSCP) has acquired two companies that provide services for homeowners. Read Obey’s story here.

Medical device makers

Patient Square Capital is investing $300 million to form Elevage Medical Technologies, a new portfolio company to support the growth of promising medical device companies.

Strategic communications

PE Hub has seen a spate of deals involving private equity investments in strategic communications companies lately.

In April, KKR said that it would make a growth investment in FGS Global, a global strategic advisory and communications consultancy based in New York.

Also in April, Broad Sky Partners announced a significant investment in Bully Pulpit Interactive, which is based in Washington, DC.

This morning, Coral Tree Partners, a Los Angeles-based private equity firm, announced it will combine Subject Matter and Kivvit to form a new national agency that combines strategic communications, data analytics and insights, government relations, digital strategy, creative content, and advertising services into a single integrated consultancy.

On that note, I’ll sign off. I’ll be back with more private equity deals tomorrow.

In the meantime, I’d love to hear from you. Reach out to me at [email protected]

Happy dealmaking,

MK

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Market tumult doesn’t faze Apollo's private equity co-heads David Sambur and Matt Nord, who have worked side by side for two decades and have seen it all. “The worse things are in the market, the more opportunities we see,” Nord said in a Q&A. (Buyouts)
Kian Capital, a lower mid-market manager based in Atlanta and Charlotte, raised $400 million for its third fund. (Buyouts)
Buyouts is out with its 2023 ESG special report, with the following stories:

• Five ways to master ESG in a new private equity landscape
• Greenbashing: Investors take hits from left and right on ESG
• How ESG credentials can fuel fundraising
• How technology can help the ESG data drive
• The rise of the circular economy

Wendy Norris, deputy chief investment officer for change and innovation at Australia’s Future Fund, is set to join plantation forestry company OneFortyOne as chief executive officer in June 2023. (Agri Investor)
Electric vehicles are key to the net-zero revolution, but the roads that they travel on also play a part. Stora Enso’s Heikki Lotti explains how. (Infrastructure Investor)