Trilantic builds outdoor hardscaping platform; Lockheed Martin shops $1bn LP portfolio

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Trilantic builds outdoor hardscaping platform; Lockheed Martin shops $1bn LP portfolio

Morning Hubs!

This is Chris, on the Wire this morning. Hope your week is proceeding smoothly and with the minimum of distraction.

What have we got going today on this mid-week Wednesday?

Beautifying: We installed a patio in our backyard a few years ago, and it’s proven to be one of the best upgrades we did to our aging home. Once the weather turns even slightly warm, that patio becomes like an additional living room for our house.

So I found this story interesting – Trilantic Capital is building a platform focused on hardscaping since launching Outdoor Living Supply in 2020. Since launch, the platform made 14 add-on acquisitions, nine of them in 2022, writes Obey Martin Manayiti on PE Hub.

Trilantic’s most recent add-on was Tahoe Sand & Gravel, which distributes bulk materials, hardscapes and masonry supplies, last month.

“We think that [upgrading homes] was accelerated in covid,” said Charles Fleischmann, Trilantic partner, adding, “but it’s part of a much broader 10-to-20-year trend where people are thinking about the outside of their home as a natural extension of their homes.”

Read more here on PE Hub.

Cyber: Brighton Park Capital led a $40 million growth investment in DataVisor, an online fraud detection and risk management software provider for financial services and digital commerce companies.

Others participating in the funding round include existing investors NewView Capital and GSR Ventures. Read more here on PE Hub.

Portfolio: We’ve seen a few, choice LP portfolios out in the secondary market, even as secondaries activity has slowed amid a widening gap between buyer and seller expectations. Another one out there on the market is being shopped by Lockheed Martin’s pension, which is selling up to $1 billion in PE fund stakes. Read more here on Buyouts.

That’s it for today. Hit me up at [email protected] with tips n’ gossip, feedback or recommendations for mystery novels. I’m currently poring through Ruth Rendell’s oeuvre. Or find me on LinkedIn.

Read thefull wire commentaryon PE Hub …

Also of note (may require subscriptions)

The next year and a half will be all about patient capital and selectivity, BlackRock noted in its private markets outlook 2023 report. “Patience is our friend right now that the market is more likely coming our way from a price standpoint,” Lynn Baranski, managing director and global head of investments at BlackRock Private Equity Partners, told Private Equity International.

While solar developers avoided a worst-case scenario, the Department of Commerce’s decision to bolster tariffs on East Asian solar panel imports is set to have a negative effect on the industry. (Infrastructure Investor)

A new Atomico report finds 8 in 10 European entrepreneurs say fundraising is harder this year. Still, 45% say they are more confident in Europe’s ability to build global tech leaders than they were 12 months ago. (Venture Capital Journal)

"Carlyle is struggling to raise the $22bn it had targeted for what it hopes will be its largest fund, as it grapples with a succession crisis and a market downturn." (Financial Times)

"Microsoft Corp.’s $1 billion climate innovation fund is betting on a battery startup valued at more than $3 billion that is trying to dramatically improve power and charging time of electric vehicles." (Wall Street Journal)

"KoBold Metals, a startup backed by Bill Gates’s Breakthrough Energy Ventures that aims to use artificial intelligence to find metals needed for the electric-vehicle boom, agreed to invest $150 million to buy a controlling stake in a large, undeveloped copper deposit in Zambia." (Wall Street Journal)

"Julian Klymochko, CEO and CIO of Accelerate Fintech, joins BNN Bloomberg to discuss his M&A outlook for the new year. Klymochko says that yesterday's US$40 billion dollars' worth of deals shows that companies are still performing well and have cash to move around. He gives his predictions for how M&A and private equity will change in the new year." (Video)

"U.S. law firm Milbank said in a Tuesday statement that it will add a nearly-30-lawyer private equity team in London from Scottish corporate firm Dickson Minto early next year." (Reuters)