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Advent chairman optimistic after ‘balanced’ year; Ronin Equity to add-on to power equipment platform

This is Chris, on for Wire Wednesday.

• Ronin Equity to add-on WoodMaxx to Detail K2

• Advent had ‘balanced’ year, with about $8bn of realizations

• Even as M&A improves, exits to remain impaired

Power tools

Ronin Equity Partners just announced an add-on to its Detail K2 outdoor power equipment distributor, writes Michael Schoeck on PE Hub this morning. Ronin is acquiring power equipment maker WoodMaxx using a $25 million term loan facility, Schoeck writes. Read more here on PE Hub.

Balance

Advent International had a “balanced year” with around $8 billion of realizations and about the same amount of deployment, according to David Mussafer, chairman and managing partner at the firm. Mussafer chatted with Private Equity International’s Madeleine Farman on the sidelines of PEI Group’s NEXUS 2024 event earlier this month. Watch our video of the interview here on PE Hub.

Exits down

An improving outlook for M&A does not mean that exit activity will start to strengthen, which will be essential to re-ignite fundraising for future dealmaking. While the dealmaking outlook appears to be improving, exits are likely to remain hamstrung from pressures across the three traditional pathways to liquidity for private equity firms, according to Hugh MacArthur, global chairman of the private equity practice at Bain & Co.

That’s it for me! Have a great rest of your Wednesday. Hit me up with tips n’ gossip, feedback or just to chat at christopher.w@pei.group or find me on LinkedIn.

Read the full wire commentary on PE Hub ...

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They said it

“This year, hopefully, we’ll see more realizations than new investments as we’re seeing some of those opportunities… unlock.”

— David Mussafer, chairman and managing partner of Advent International, on the firm’s outlook.