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Apollo to acquire Panasonic Automotive; 5 deals show the PE opportunity in warehouse automation

Good morning dealmakers. Happy holiday weekend to those who celebrate.

It’s Obey Martin Manayiti here with the newsletter.

Today I am looking at Alpine Investors-backed Axcel Learning platform which is breaking into healthcare sector with the acquisition of KMK Optometry.

I will also look at five recent deals that show how e-commerce is fueling warehouse automation.

But first let’s look at the news this morning that Apollo has agreed to acquire a majority stake in Panasonic Automotive Systems Corporation.

Panasonic Automotive

Apollo has agreement to acquire a majority stake in Panasonic Automotive Systems Corporation, an internationally known maker of integrated cockpit systems and in-vehicle electronics from Panasonic Holdings Corporation in a transaction valued at a total enterprise value of ¥311 billion. (~$2 billion.)

The premium version of the Wire has more on this deal.

Optometry

PE Hub was the first to report yesterday that Axcel Learning, a portfolio company of Alpine Investors, is expanding its scope and breaking into the healthcare education industry through the acquisition of KMK Optometry, a provider of test preparation and coaching services.

Axcel is a professional education platform launched in 2022.

Upgrade to the premium version of the Wire to learn more about this deal.

Smartening up warehouses

The continuing rise of e-commerce is fueling private equity interest in companies that help manage warehouses more efficiently.

E-commerce is expected to account for more than 20 percent of US retail sales by 2027, expanding at an over 10 percent CAGR, according to a Harris Williams report.

PE Hub has rounded up five recent deals that exemplify the trends.

That’s it for today. As always, you can reach me at obey.m@pei.group.

MK Flynn will be back with more on Monday.

Have a nice weekend,

Obey

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

The fundraising market has been brutal, but that didn’t stop a new firm launched by two Kleiner Perkins veterans from closing on $300 million for its debut fund and beating its target by $100 million. (Venture Capital Journal)

Climate tech venture capital firm World Fund has closed its debut vehicle on €300 million. The fund received backing from the European Investment Fund, KfW Capital, BPI France, PwC Germany, Wiltshire Pension Fund and the UK Environment Agency Pension Fund, among others. (Agri Investor)

BlackRock’s acquisition of Global Infrastructure Partners exemplifies the rise of infrastructure, but the asset class still requires persistent long-term capital to cater to an abundance of opportunities, IFM Investors says. (Infrastructure Investor)

Active private real estate investors are buying up assets from owners under pressure. But they are less fixated on bargains. (Private Equity Real Estate)

The next wave of programmatic secondaries sellers: Kaiser Permanente has returned to the secondaries market with its third billion-plus portfolio in three years. As first-timers come to market, the secondaries market is hopeful more LPs will take a regular approach in the years to come. (Secondaries Investor)

They said it

“Meanwhile, due to labor challenges including rising wages and an aging workforce, there’s also a greater urgency for warehouses to invest in technology that maximizes productivity and reduces the reliance on skilled professionals.”

— Eric Logue, a managing director of Harris Williams’ industrials group, said in relation to the trend fueling warehouse automation PE backed deals.