Happy Tuesday, everybody!
Yesterday, our team had its first official happy hour. With bars packed all around us, it felt like New Yorkers want to make the most of this summer! But for a large number of private equity players, it seems like summertime has equated to making an HVAC investment. I've covered multiple HVAC PE deals in the past few months, but Partners Group's announced acquisition of Reedy Industries is arguably the most notable - at least in terms of scale. Deerfield, Illinois-headquartered Reedy - one of the largest service providers in the US - has been aggressively growing. Just yesterday, Reedy announced its 15th add-on acquisition since it was bought by seller Audax Private Equity in 2019. Partners Group will now join an ever-growing list of PE firms building out national HVAC platforms. Read PE Hub's brief here.
Podcast alert: While we are all noting the rush of capital into the private equity industry, I don't see enough talk about risks that come along with that. Buyouts' Chris Witkowsky sat down (virtually) with Igor Rozenblit, former co-head of the SEC’s private funds unit, to talk about the biggest regulatory risks facing PE firms today, including the proliferation of new products and the compliance and disclosure issues that go along with that growth. Listen to the podcast on Buyouts.
Read the full wire commentary on PEHub...
That's it for me! Have a great week ahead everyone, and as always, hit me up at karishma.v@peimedia.com with any feedback, tips or just to say hello!
