Good morning dealmakers, it’s Obey Martin Manayiti with the US edition of the Wire from the New York newsroom.
The exit market has been slow for some time, as many PE firms hang on to their portfolio companies, in hopes of improved selling terms. We have a couple of exits today representing different sectors. Many dealmakers are cautiously optimistic about the revival of the exit market, and we are following all the trends at PE Hub.
First, we look at Warburg Pincus’ recent sale of Sundyne to Honeywell. Stay tuned for some multiple details below, along with how trends such as onshoring helped scale Sundyne under Warburg ownership.
Next, Clearview Capital announced the sale of Result Partners, a vineyard management and development services provider serving the Oregon and Washington wine industries, to Atlas Vineyard Management.
Finally, Tinicum Holdings has agreed to sell Continental Disc Corporation, a Liberty, Missouri-based safety-critical pressure management provider to Baker Hughes for approximately $540 million.
And before we close, let’s look at the S&P data that shows four M&A deals with a transaction value of more than $10 billion that were announced worldwide in May, putting the second quarter's deal count one shy of the first-quarter total.
Exit strategy
Warburg Pincus closed the sale of Sundyne to Honeywell for $2.16 billion earlier in June in a deal that was closely watched by PE Hub. We were the first to report that the company was coming to market back in August 2024.
Upgrade to the premium version of the Wire to learn more about the multiples, including trends that helped scale Sundyne.
Clearview exits Result Partners
Clearview Capital announced the sale of Result Partners, a vineyard management and development services provider serving the Oregon and Washington wine industries, to Atlas Vineyard Management.
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Tinicum Holdings exits CDC for $540 million
Baker Hughes has agreed to acquire Continental Disc Corporation, a Liberty, Missouri-based safety-critical pressure management provider, from Tinicum Holdings for approximately $540 million.
Premium Wire subscribers have access to more, including insights from Michael Donner, a partner at Tinicum.
By the numbers
Four M&A deals with a transaction value of more than $10 billion were announced worldwide in May, putting the second quarter's deal count one shy of the first-quarter total, according to the S&P data.
Upgrade to the premium version of the Wire for more insights.
That’s it from me today. Craig McGlashan will bring you the Europe edition tomorrow, while Rafael Canton will write Wednesday’s US Wire.
Cheers,
Obey
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