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The Wire

Private equity deal news and insights from the London newsroom

Jan 13, 2025

 

MidEuropa preps Diagnostyka for IPO; EV tariffs create opportunities for PE in semiconductors

Good morning, Nina Lindholm here with the Europe Wire from the London newsroom.

 

The IPO market is experiencing positive momentum, some dealmakers say, although it has not yet fully reopened. MidEuropa is the latest private equity investor to try its luck with an IPO, as the firm has announced plans to list a Polish diagnostics services provider.

 

We then swap over to the world of semiconductors, as Lincoln International managing director Sibert Meulenbelt walks us through his thoughts on the segment.

 

IPO ahead

Bridgepoint’s Xavier Robert called the closed IPO market a problem that “is not going away” in his NEXUS 2025 preview interview with PE Hub. That’s not stopping some firms from trying. MidEuropa has announced plans to list diagnostic services provider Diagnostyka on the Warsaw Stock Exchange.

 

For more on that, check out the premium Wire coverage here.

 

Temporary measure

Semiconductors could become a trillion-dollar industry by 2030, according to various forecasts. I caught up with Lincoln International managing director Sibert Meulenbelt to learn more about the segment and what kind of opportunities and challenges it provides for private equity investors.

 

To read Meulenbelt's thoughts on the topic, check out the full Wire coverage here.

 

For more on tariffs’ impact on PE dealmaking, take a look at PE Hub editor-in-chief MK Flynn’s interview with West Monroe’s Brad Haller and Jeremy Tancredi.

 

That’s all from me this morning. MK Flynn will be with you with the US edition later today, and Craig McGlashan will be on the Europe Wire duty tomorrow morning.

 

Cheers,

Nina

 

 

Read the full Wire commentary on PE Hub ...

Today's must reads

> PE firms target clinical trial companies: 7 acquisitions More...
> Carlyle’s Stephen Wise: 'The market is set up well for exits and financing new deals' More...
> Global healthcare PE deal value soared to $115bn, finds Bain & Company More...
> Epiris' Owen Wilson wishes for 'focused transparency' in 2025 More...
> Churchill's Anne Philpott: 'Investors will flock to junior capital to lock in long-term, fixed rate return stability' More...

Also of note (may require subscriptions)

 

StepStone’s inaugural infra fund reaches final close oversubscribed at $1.2bn – exclusive: The fund, focused on co-investments, originally set out with a target of $750m. (Infrastructure Investor)

 

LACERA to commit over $2bn to real estate in 2025: The pension plan favors core assets and is launching an emerging manager program. (PERE)

 

Private equity fundraising in North America dips for third year in a row: Buyout, growth equity, venture capital, secondaries and other private equity funds raised $501bn as of December 31, down 21% from $631bn secured in 2023. (Buyouts)

 

Ares raises $2.3bn for life insurance firm: Aspida, which also sells annuities, has grown to $19bn in assets with support from Ares. (Private Debt Investor)

 

Taxonomy alignment correlated with higher stock returns, study claims: Study authors include two board members of EU standards body EFRAG. (Responsible Investor)

Deals

> Infranity to take majority stake in Nordic Re-Finance More...
> MidEuropa-backed Poland's Diagnostyka plans IPO More...
> ADIA and GIC take minority stakes in commercial fire protection firm Pye-Barker More...
> Consortium Brand Partners acquires home decor and furniture company Jonathan Adler More...
> InTandem Capital-backed Vivo Infusion snaps up Neurology Institute of San Antonio and Vista Infusions More...
> Palm Beach Capital invests in architecture firm MBI Companies More...
People
> Sterling Group-backed Tangent Technologies appoints Potthoff as CEO More...
> Odyssey promotes Hall and Hadis to managing principal More...
> ECI Partners kicks off 2025 with five promotions More...

They said it

“To benefit from this trend means investing somewhere in the supply chain, ideally in suppliers that serve multiple OEMs."

— Sibert Meulenbelt, managing director, Lincoln International, on the semiconductor segment

 

Today's letter was prepared by Nina Lindholm

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