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PE’s interest in pest control grows; Platinum Equity in generic pharma deal

Good morning, Nina Lindholm here with the Friday Wire.

Before we begin, just a quick note to say that there will be no Wire on Monday due to Labor Day.

A hunt for predictable sectors has led private equity to go after pest control businesses, according to Capstone Partners’ Ben Wasik. This morning, we explore the trends around pest control deals, as my colleague Michael Schoeck has collected eight recent deals into one story.

We then switch from pests to pharma, as Platinum Equity has snapped up a controlling stake in a Mumbai-based generic pharmaceutical business.

To finish, I compile some of our recent listicles for some weekend reading.

Controlling critters

Growth in the pest control market within the business services industry has prevailed despite macro trends and inflationary pressure, my colleague Michael Schoeck writes.

Michael delved into the reasons behind private equity’s interest in the pest control sector and compiled eight deals from the segment into one story. You can find it here.

Pharma play

Platinum Equity has acquired a controlling stake in Inventia’s core Oral Solid Dosage  business.

For more on the deal, including Platinum’s plans for Inventia, take a look at the premium Wire coverage here.

ICYMI

As Friday is a day for listicles, I thought I’d compile a list of our recent ones here for ease of access. In addition to today’s pest control story, the topics range from food and beverage to data centers, rare diseases and radiology – there’s plenty to choose from.

• Opportunity for innovation: 7 private equity deals in foodservice

• Drink up: 5 PE-backed beverage deals

• AI drives demand for data centers: 7 private equity deals

• PE firms scan radiology market for investments: 7 recent deals

• Rare disease pharma incentives enticing PE: 7 recent deals

That’s all from me today. This also concludes my Friday Wires as Obey Martin Manayiti will be back with you from next week. Craig McGlashan will write to you on Tuesday after Labor Day.

Cheers,
Nina

In case you missed it

PE Hub is broadening its scope with new, in-depth coverage of European deals. Tune in, Wednesday, September 4, for the latest insights, key transactions, and expert analysis from across the European private equity landscape.

Whether you’re looking to stay on top of the market or find your next big opportunity, our expanded European deals coverage will keep you ahead of the curve.

Reach out to [email protected] to book a no-obligation tour of PE Hub’s newly expanded deals coverage.

Read the full Wire commentary on PE Hub ...

Also of note (may require subscriptions)

Half of all institutional limited partners active in the North American private equity market are overallocated to the asset class. That is according to Buyouts data for January through late August of this year. Fifty percent of LPs were found to be overallocated to private equity, while one-third were underallocated and a modest 16 percent were at their target allocations.

Orange County Employees Retirement System is considering a move to expand its co-investment program to include other private market assets. (Buyouts)

Secondaries Investor is out with this year’s list of the most impressive secondaries professionals aged under 36, which saw the highest number of submissions (~400) in the ranking’s history. The 10 people who made this year’s list scored the highest across the three main criteria, while also displaying the elusive X-factor.

As the summer lull draws to a close, New Private Markets takes look at the state of sustainability in private markets through the prism of data from research and reports covered so far this year.

The changes LPs want to see in continuation funds: Private Equity International's upcoming special report on the secondaries market shows the future looks bright for this burgeoning asset class – though investors have a list of improvements they’d like to see.

How much lawyers make from legal documents may not be the number-one topic on your mind as we approach the end of summer. Secondaries Investor's report into the rising cost of transfer agreements in LP secondaries sales suggests it should be.

Can speciality finance tempt German LPs? It’s a topic that will be under consideration at Private Debt Investor's upcoming PDI Germany Forum: the likelihood of risk-averse investors being tempted by private debt’s ‘next big thing.’

They said it

“Privately owned pest control companies are increasingly looking for liquidity for a variety of reasons including retirement, difficult markets, scale disadvantages and most important the feeding frenzy of multiples driving attractive valuations.”

— Ken Wasik, co-head of investment banking and head of consumer products group, Capstone Partners