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The Wire Nov. 8, 2021
OEP creates 'acquirer of choice' in wood products with simultaneous deals, Gryphon invests in efficacious skincare company Revision Goodier Morning!
Simultaneously acquiring and uniting a pair of complementary assets is a popular PE strategy aimed at starting out with more meaningful scale. One Equity Partners is one firm that likes this approach.
Marking its latest new platform investment, OEP bought and merged two businesses to create what it believes will be a front-runner in wood processing equipment, aftermarket parts and consumables – a segment ripe for growth with lumber demand high and ESG top of mind. The New York private equity firm completed the joint acquisitions of USNR and Wood Fiber Group to create a combined company with projected 2021 revenues greater than $500 million Read Aaron Weitzman’s full report on PE Hub.
Elsewhere, Gryphon Investors is investing for a third time in the skincare products and services and what it describes as its first in the physician dispensed skincare category. Gryphon is buying Revision Goodier -- which includes Revision Skincare and Goodier Cosmetics -- and “represents a bullseye opportunity for Gryphon and leverages our proactive focus of investing behind leading efficacious skincare brands,” according to Matt Farron, partner and head of Gryphon’s Consumer Group. Read PE Hub's brief on the deal.
That’s it for me! Have a great week ahead, hubsters! As always, write to me at springle@buyoutsinsider.com with any tips, gossip or feedback.
Read the full wire commentary on PE Hub...
Also of note (may require subscriptions) Life sciences: Wall Street Journal writes that Blackstone is investing as much as $250 million in U.K. biotechnology company Autolus Therapeutics PLC to fund the final stages of development of a new therapy to treat a serious form of leukemia. The investment is a bet on Autolus’s model of cell therapy, as well as indicative of a broader bullishness on the part of the unit and Blackstone on investing in the U.K., where it has found lower valuations and less competition. Read it on WSJ.
Environment: Investors should focus decarbonisation efforts on their portfolio exposure where they have the best understanding of high-emissions assets to account for incomplete environmental measurements, according to CalPERS’ Anne Simpson. Simpson said that “a eureka moment” during CalPERS’ ongoing efforts to reduce carbon emissions from its $480 billion portfolio occurred when the LP zeroed in on 100 companies out of its 10,000 holdings that were responsible for 85 percent of total emissions. Read and listen to more on New Private Markets.
Secondaries: Hamilton Lane has launched its sixth secondaries fund, less than a year after closing the fifth. The $88 billion asset manager, ranked 13th on the most recent SI 50, disclosed the launch during its earnings call last week. The sixth program is anticipating a first close in the first quarter of next year. Then it will have 24 months to finish its raise. Read more on Secondaries Investor.
PE Deals
They said it “Focus where it matters. Pay attention to where you can make a difference." CalPERS’ Anne Simpson, who leads board governance and sustainability at the California pension investor, told New Private Markets during a video interview.
Today's letter was prepared by Sarah Pringle Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MOREPlease visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC.
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