Good morning, Nina Lindholm here with the Europe Wire from the London newsroom.
Interest rates and how they will impact private equity dealmakers are our opening topic this morning. My colleague Sophie Rose caught up with industry experts from Elliot Davis, Clifford Chance and Raymond James and compiled five lessons interest rates have taught us.
Next, we delve into a take-private in the works, as EQT, alongside First Kraft, has made an offer for Swedish business applications provider Fortnox.
We’ll finish with 65 Equity Partners making its first European deal.
Lessons learned
Changing interest rates have impacted dealmaking, and past cycles have taught dealmakers many lessons, my colleague Sophie Rose writes.
To learn what Elliot Davis director Matt Wolf predicts the future for interest rates to look like, take a look at the premium Wire.
You can also check out Sophie’s story for more.
In private
Moving over to a take-private. EQT and First Kraft have made a Skr54.9 billion ($5.5 billion; €5.0 billion) offer for Fortnox, a Stockholm-listed accounting and business software company, which the company's board has unanimously recommended to shareholders.
For Fortnox's EV and EBIT multiples and more, check out the full Wire coverage.
First step
Let’s finish with a bit of healthcare. 65 Equity Partners has invested in HAS Healthcare Advanced Synthesis, an international developer and producer of active pharmaceutical ingredients (APIs), high-potency active pharmaceutical ingredients (HPAPIs) and anticancer compounds.
To learn which business HAS plans to acquire with 65 Equity's backing, take a look at the premium Wire.
That’s all from me this morning. Make sure to check out our US edition of the Wire later today, written by MK Flynn. It will feature our Women in PE special report – you certainly won’t want to miss it.
Craig McGlashan will be on Europe duty tomorrow morning.
Cheers,
Nina
Read the full Wire commentary on PE Hub ...
