Morning all, Craig McGlashan here with the Europe Wire from the London newsroom.
We’ve got some apt breakfast reading for you, as we speak to Seven2 partner Bruno Candelier about his firm’s exit from Europe Snacks and why the private equity firm is bullish on the food and beverage sector.
Next we look at what seems to be a bit of a resurgence in European IPOs, with BC Partners-backed academic publisher Springer Nature setting the price on its listing. I’d love to get readers’ thoughts on whether the IPO market is reopening fully for private equity exits – send them over to me at craig.m@pei.group
Conversely, we’re also seeing some take-private deals appear, where General Atlantic is looking to buy a UK digital learning company. That also gives us the opportunity to revisit some other recent education deals.
Finally, we look at logistics, where Abris Capital Partners-backed Alsendo has made a push into the Baltic region.
Food for thought
Seven2 expects a rebound in food and beverage M&A next year with the second half of 2024 coming in slightly below expectations so far, partner Bruno Candelier told PE Hub’s Sophie Rose. The firm is looking for new investments in the sector after agreeing to sell Europe Snacks to One Rock Capital Partners after a 10-year hold.
Read the premium version of the Wire to find out why Seven2 expects more deals in the sector, more on the exit from Europe Snacks as well as potential obstacles for the food and beverage industry.
Public plays
There are more signs of life in the European IPO market, opening up a welcome exit option for private equity firms.
German academic publisher Springer Nature, which includes private equity firm BC Partners among its investors, has set a price on its IPO.
Read more in the premium version of the Wire.
That comes after MCH Private Equity-backed Europastry, a premium quality frozen bakery products business, last week launched an IPO. We also covered a report from EYlast weekthat found IPO proceeds in EMEIA were up by 45 percent in the third quarter compared with a year earlier.
Class apart
Maybe it’s because the summer is over and the new academic year is well underway, but this has been a super-busy month for education deal activity.
General Atlantic has sounded out London-headquartered digital learning and talent management business Learning Technologies Group (LTG) about a potential take-private, the companies said on Friday.
Find out more about the potential deal in the premium version of the Wire, as well as other education deals we've covered this month.
Iris Dorbian looked into why the sector was so hot in this deep dive at the start of the month.
Baltic push
Abris Capital Partners-backed Alsendo has acquired Lithuania’s Visas Transportas, owner of Siusk24 and Cargobooking.
Right, that’s it from me today. MK Flynn will be on US duty in the New York morning later today, while Nina Lindholm will be in the Europe chair tomorrow.
Cheers,
Craig
Read the full Wire commentary on PE Hub ...
