Morning all Craig McGlashan here with the Europe Wire from the London newsroom.
Private equity is known for its adaptability and that’s clear from some of the deals we have to report today. Despite US tariffs kicking in for much of the world from this morning, GPs are still able to get deals away.
Of the big deals we report this morning, each has details that likely make them if not immune to knock-on effects from tariffs, at least better able to deal with them.
We also look at another sector that is facing a different future thanks to the new US administration’s shift in policy: energy.
The right chemistry
Strategic Value Partners (SVP) and Blantyre Capital have acquired OQ Chemicals, a global producer and merchant of oxo chemicals.
Read the premium version of the Wire to get analysis and details including the company's annual revenues.
Big exit
The private equity world had been hoping that the exit market would open up more this year, something that is now in doubt due to the uncertainty over tariffs.
But EQT is nearing a deal to sell Karo Healthcare, a Stockholm-headquartered company whose products include the E45 moisturizer, to KKR, PE Hub understands.
Read details including revenues and the company's main markets in the premium version of the Wire.
Unanimous support
Next, an example of a deal for a business that operates solely in the UK and Ireland.
An offer from KKR and Stonepeak Partners to take UK healthcare real estate investment trust Assura private has won unanimous backing from the company’s board this morning, beating out a rival offer from Primary Health Properties (PHP).
Details on the winning and losing offer are in the premium version of the Wire.
Renewing interest
Another big shift since the new US administration took power is a pivot away from sustainable energy. But private equity has again proven adaptable in the face of that change.
Find out how one European private equity firm that invests heavily in carbon-reduction technologies is adapting its strategy in the premium version of the Wire.
Looking at the wider European energy sector, there is a “new kind of optimism,” Nadine Amr, a London-based partner at law firm Vinson & Elkins, told PE Hub's Nina Lindholm in a deep dive into the subject yesterday.
We also reported yesterday that Federated Hermes had completed the acquisition of a majority stake in Rivington Energy Management.
That’s everything from me today. I’m off on holiday tomorrow and will be back on April 22. Irien Joseph and Sophie Rose will be filling in on Wire duty for me next week. Rafael Canton is on US Wire later today as usual, and Nina Lindholm has her usual Europe slot tomorrow.
Cheers,
Craig
Read the full Wire commentary on PE Hub ...
