Private equity deal news and insights from the London newsroom

Pet care thrives on long-term megatrend, says Columna Capital; Carlyle closes SNP deal

Morning all, it’s Irien Joseph bringing you the Europe edition of the Wire from the London newsroom.

We are stepping away from this week’s tariff talk and diving into some industry trends. First up: pet care.

Thanks to the growing trend of pet humanization, spending in this sector has increased. Columna Capital’s Rory Devlin shares his take on the European pet care industry and where he sees growth opportunities.

In tech news, Carlyle has wrapped up its acquisition of Germany’s SNP Schneider-Neureither & Partner, a player in digital transformation services.

Lastly, the energy sector is looking active with PE Hub reporting eight deals this week, aligning with the outlook from industry insiders featured in Nina Lindholm’s latest energy article.

Fundamental change

The European pet care market is riding a long-term wave of growth, fueled by evolving social dynamics, Rory Devlin, managing partner and co-founder of investment firm Columna Capital, told PE Hub.

Subscribe to the premium version of the Wire to find out the key growth drivers in the sector and areas of investment opportunities.

Recent deals in the sector include: Bonnefield Financial’s investment in animal health company Solvetand PAI Partners agreeing to acquire animal health products and services distributor Nuzoa from Abac Capital.

Public-to-private

Carlyle Group has completed the take-private acquisition of SNP Schneider-Neureither & Partner.

Read the premium version of the Wire to find out SNP’s revenues and other details.

Bullish on energy

In this week's deal highlights, we are focusing on the energy sector with PE Hub reporting eight deals across Europe and the US.

Mubadala Energy takes minority stake in Kimmeridge’s SoTex
CDPQ’s Verene Energia to acquire Equatorial’spower transmission unit
Sandbrook and PSP Investments to sell Havfram in €900m deal
Braemont Capital-backed Loenbro scoops up Stewart Electric
Lime Rock-backed San Jacinto Mineral sells Pennsylvania Marcellus Shale assets
Aberdeen Investments, Arjun Infrastructure up stake in Spain’s fiber network operator
Federated Hermes buys majority stake in Rivington Energy Management
CVC buys 49 percent stake in biogas operator Balance

That’s all from me. John R Fischer will be with you in the New York morning with the US edition and Nina Lindholm will bring you the Europe edition of the Wire on Monday as usual.

Warmly,

Irien

Read the full Wire commentary on PE Hub ...

Today's must reads

Also of note (may require subscriptions)

Private equity’s key tenets will be put to the test under Trump: The industry, which is not immune to volatility and shocks, is inherently better positioned to manage those shocks than other asset classes. (Private Equity International)

Is the rise of CVs creating a ‘black hole’? Amid the widespread adoption of continuation funds, an LP’s ability to roll into a fund is becoming more important. (Secondaries)

Falling short is the new normal: In this environment any fund close – even below target – is cause for celebration. (New Private Markets)

Quality of earnings reports may help funds manage volatility: Given the current market chaos, private fund managers may find some confidence in the deep analysis of the risk reports. (Private Funds CFO)

Bonnefield backs livestock pharmaceuticals company Solvet: The Canadian firm deployed capital from its 2023-vintage Bonnefield Agribusiness Fund. (Agri Investor)

“This pet mega trend, through which the pet population and discretionary spending has grown significantly, is due to a fundamental societal change where families are smaller, pets are considered an important part of the family.”

— Rory Devlin, managing partner and co-founder, Columna Capital, on the pet care sector

Today's letter was prepared by Irien Joseph

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