Good morning, Hubsters, Craig McGlashan here with the Tuesday Wire. We’ve got a couple of chunky deals to start things off, with GTCR agreeing to carve out the commercial business unit of safety services provider ADT Inc and Carlyle signing an agreement to take a minority stake in engineering company Quest Global, from which Bain Capital and Advent International are exiting. Next up, Sherri Williams of The Raine Group tells PE Hub’s Rafael Cantonaboutthe resilience of the consumer segment before we look at KKR agreeing to buy publisher Simon & Schuster and Advent International inking a deal to buyfashion business Zimmermann. Safety first GTCR has agreed to acquire the commercial business unit of ADT Inc, a Boca Raton, Florida-based provider of critical safety services. Check out the full version of the Wire for the deal size and EV/EBITDA multiple. Engineering Carlyle has inked an agreement to acquire a significant minority stake in Quest Global, a Singapore-based engineering services company. Simple joys Plenty of column inches have been devoted over the last year to how consumers have had to cut spending as high inflation has hit their pockets. But according to Sherri Williams, partner and head of investor relations at New York merchant bank The Raine Group, the consumer sector is a bit more downturn-resistant than many give it credit for. Check out PE Hub’s Rafael Canton’s Q&A with Williams for more. Booked My small, discretionary spending tends to be on books – unfortunately at a faster rate than I can read – which flows nicely into a deal that has been receiving a lot of attention: KKR’s agreeing to acquire New York-based book publishing giant Simon & Schuster for $1.62 billion from Paramount Global. Read more on the deal in the subscriber version of the Wire. In fashion We’ve also heard about how luxury fashion has been downturn-proof – although unlike books, this isn’t a subject I can provide any wisdom on. But Advent International certainly seems to thinkthe sector is worth investing in. This morning, it agreed to acquire Zimmermann, an Australia-based luxury fashion brand. That’s all from me today – Chris Witkowsky will be with you tomorrow for Wire Wednesday. Cheers, Craig Read the full wire commentary on PE Hub ... |