Morning all, Irien Joseph here with the Europe edition of the Wire from the London newsroom. Kicking off with a listicle in legal tech, where momentum is building fast. PE Hub has compiled a list of seven deals announced in the sector since January across North America and Europe. Then we have two new carve-outs to report in the UK: Advent has agreed to buy a 70 percent stake in Reckitt’s Essential Home portfolio, while Sullivan Street Partners is set to acquire the aerostructures business of Senior. We have the enterprise value of both the target businesses. And finally, let’s talk bolt-ons. This week alone, PE Hub reported 20 add-on deals across the US and Europe. Roll-up strategies The legal sector is quietly but steadily evolving as AI tools mature and legal tech adoption grows. Since January, PE Hub has reported seven PE deals in the legal tech segment across North America and Europe. Subscribe to the premium version of the Wire to find out why the legal tech sector is drawing PE interest, with insights from Goodwin’s Gemma Roberts on the opportunities and challenges. Read the full story to find out the seven PE-backed deals shaping legal tech. UK carve-outs Next up are two fresh carve-outs in the UK. Starting with the bigger deal: Advent International has agreed to buy a 70 percent stake in Reckitt’s Essential Home portfolio. Meanwhile, Sullivan Street Partners has agreed to acquire the aerostructures business of Senior. Read the premium version of the Wire to find out more about the UK carve-outs by Advent and Sullivan Street, including the value creation plans and enterprise values of the targets. Carve-outs continue to be attractive plays for private equity. There are potential higher returns on offer thanks to them being primary deals, Isabelle Pagnotta, partner and head of business services at London-headquartered Inflexion, told PE Hub in June. Add-on spree In this week’s roundup, we’re diving into 20 add-on deals reported by PE Hub across the US and Europe. Below are the deals we covered: AE Industrial-backed Case acquires IT services biz Ragnarok Frazier Healthcare-backed Knipper Health picks up medical benefit platform eBlu Solutions Inflexion-backedDSS picks up Proaction InternationalConsonance-backed Sellers Dorsey acquires health tech firm DignifiHealth TA-backed Rocscience acquires Italy’s 2SIInfinedi-backedCea Capa acquires Cis Maxwell Street-backed TIG buys Matrix ManagementMFG-backed CST Utilities snaps up Daystar Directional Drilling Core Industrial-backed PrecisionX Group buys Hudson Technologies PAI-backed Compleat Food Group buysFreshpak from Sun European GenNx360-backed PAGsnaps up Turner AviationWise Equity-backed Almac acquires Easy Lift Sovereign-backed Summit Group picks up R&H JerseyPSG-backed Zenchef to merge with CoverManager Bain Capital-backed Dessertsnaps up Williamette Valley Sullivan Street-backed UKAT closes acquisition of Providence Projects Eurazeo-backed Rydoo picks up SemineProvidence- and Searchlight-backed Hyve buys BHT Stone Point-backed Emperion to acquire PeerLinkMain sells majority stake in Inverid to Nordic-backed SignicatThat’s all from me for now. John R Fischer will bring you the US edition of the Wire in the New York morning and Craig McGlashan is filling in for Nina Lindholm on Monday’s Europe edition. Warmly, Irien Read the full Wire commentary on PE Hub ... |