Altus benefitting from trade environment, says partner Thomas Groh; Hg buys A-Lign from Warburg Pincus

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Altus benefitting from trade environment, says partner Thomas Groh; Hg buys A-Lign from Warburg Pincus

Good morning dealmakers, it’s Obey Martin Manayiti with the US edition of the Wire from the New York newsroom.

First, our H2 Q&A series with private equity thought leaders continues this morning with Thomas Groh, a partner at Altus Capital Partners, a firm that invests in the US manufacturing sector. Groh shared how Altus is navigating the tariff environment, how valuations are changing in the manufacturing sector and how the firm is preparing for the second half of 2025, among other themes. I will share some excerpts below.

Next, we have a few deal news this morning. First, Welsh, Carson, Anderson & Stowe made a majority investment in AIA Contract Documents, a risk management and workflow platform for the architecture, engineering and construction industry. We have more detail about WCAS’ co-investors, including what Christopher Hooper, general partner at the New York based firm, said about the deal.

Finally, London headquartered Hg will acquire a majority stake in A-Lign, a Tampa-based provider of technology-enabled cybersecurity compliance services from Warburg Pincus.

Robust US manufacturing sector for PE investors

While the roller coaster of tariff announcements has created uncertainty for overall M&A, some private equity firms say they are benefiting from the focus on domestic sourcing and manufacturing. PE Hub’s ongoing series of Q&As with private equity thought leaders continues now with Thomas Groh, a partner at Altus Capital Partners, a firm that invests in the US manufacturing sector. Groh shared how the firm is navigating the tariff environment, how valuations are changing in the manufacturing sector and how the firm is preparing for the second half of 2025.

Upgrade to the premium version of the Wire to read some excerpts.

Architecture

Welsh, Carson, Anderson & Stowe has made a majority investment in AIA Contract Documents, a Washington, DC-based risk management and workflow platform for the architecture, engineering and construction industry.

Premium subscribers to the Wire can learn more about the deal.

Architecture has caught the attention of PE investors recently. PE Hub rounded five deals last year and we expect to see more activity in the sector going forward.

Cybersecurity

London headquartered Hg is acquiring a majority stake in A-Lign, a Tampa-based provider of technology-enabled cybersecurity compliance services from Warburg Pincus.

Upgrade to the premium version of the Wire for more.

That’s it from me today. Craig McGlashan will bring you the Europe edition tomorrow, while Rafael Canton will write Wednesday’s US Wire.

Cheers,

Obey

Read the full Wire commentary on PE Hub ...

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Deals

They said it

“We expect more actionable opportunities in the second half of this year, particularly as visibility improves.”

— Thomas Groh, a partner at Altus Capital Partners, said in a Q&A about opportunities in the manufacturing sector.

Today's letter was prepared by Obey Martin Manayiti

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