Morning all, Craig McGlashan bringing you the Europe Wire from the London newsroom.
We’re focusing on take-privates this morning, starting with a deep dive into Archimed’s acquisition of aesthetics business Jeisys Medical. Chairman and managing partner Denis Ribon talks us through why Archimed was attracted to the business and the sector.
Next we look at a report from investment bank Peel Hunt about an uptick in bids for UK listed companies – although with surprisingly little activity from private equity.
One UK take-private has completed though – Thoma Bravo’s move for cybersecurity company Darktrace. Away from take-privates, other deal completions we look at this morning include General Atlantic wrapping up its acquisition of Actis, a global investor in sustainable infrastructure, and Warburg Pincus and Temasek completing their acquisition of London-based insurance intermediary Specialist Risk Group.
Switching to new deals, the Riverside Company has agreed to invest in Pure11, a German distributor of consumables for cleanrooms and other controlled environments.
Skin-deep dive
Archimed’s private ownership of Jeisys Medical will provide the agility needed in the fast-moving skincare field as aesthetics takes market share from cosmetics, Denis Ribon, chairman and managing partner, told PE Hub’s Nina Lindholm.
Find out why in the premium version of the Wire.
For more on why private equity is so attracted to the aesthetics sector, check out Irien Joseph’s interview with Charterhouse Capital Partners’ Cédric Barthélemyabout his firm’s investment in Skin Tech Pharma Group.
Where’s the PE?
Sticking with take-privates, where a new report from UK investment bank Peel Hunt has found that there are 19 ongoing bids for FTSE350 companies, which it reckons is a record – but that activity from private equity buyers has been surprisingly low, given the roughly $4 trillion of dry powder the sector has available.
Read the premium version of the Wire to find out why Peel Hunt believes that situation will change.
In the Darktrace
One of the ‘ongoing’ take-privates mentioned in the report has just become a closed one. Thoma Bravo has completed its acquisition of UK cybersecurity company Darktrace.
Infra tie-up
Speaking of completions, General Atlantic has wrapped up its acquisition of Actis, a global investor in sustainable infrastructure.
And in another deal completion, Warburg Pincus and Temasek have completed their acquisition of London-based insurance intermediary Specialist Risk Group.
Cleanrooms
The Riverside Company has agreed to invest in Pure11, a German distributor of consumables for cleanrooms and other controlled environments, from its founders.
OK that’s all from me today. Stay tuned for Rafael Canton on the US Wire later today, while I’ll be back on Europe duty tomorrow.
Cheers,
Craig
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