Good evening,

For years we’ve been hearing about private equity’s mounting war chest and dry powder balance, so perhaps we shouldn’t be surprised that today we’re heavily focused on PE deals.

While public M&A takes a bit of a breather, PE’s still very active and trying to lock down acquisitions and/or divestments in the coming month or two, so deals can complete by year’s end.

In Street Talk tonight, we look at who’s bidding for tyre distributor Tyremax, which is expected to fetch more than $500 million at auction.

Bain Capital, which has a similar business in the US, appears to be well-placed.

We have also spotted Affinity Equity Partners having a very early look at Quadrant PE’s TEEG, while Next Capital has wrapped up its acquisition of Compare Club.

Happy reading,

Anthony Macdonald, Sarah Thompson and Kanika Sood
Street Talk editors