Good morning, Hubsters. Michael Schoeck here with the Thursday Wire.
Blackstone reported earnings today, and president Jonathan Gray suggests the dealmaking logjam may be lifting. Now feels “like something of an inflection point,” he told the Wall Street Journal.
Speaking of Gray, he’s one of the keynote speakers at PEI Group’s upcoming NEXUS 2024 conference in March. Other keynoters include Oaktree’s Howard Marks and Carlyle’s David Rubenstein. Plus, PE Hub’s MK Flynn will host a Fireside Chat with Thoma Bravo’s Orlando Bravo. You can register for NEXUS here.
Today, we’re looking at aerospace aftermarket parts investments. PE firms have made investments in parts and equipment manufacturers providers, as Obey Martin Manayiti notes this week in an interview with Core Industrial Partners.
Grab the popcorn, because Iris Dorbian has an interview with AUA Private Equity Partners on the mid market sponsor’s recent acquisition of Weaver Popcorn.
Last, we’ll hear from public relations firm H/Advisors Abernathy, which published its juicy annual “M&A Leaks Report.”
But before we get to all that, let’s take a look at a compelling consumer brand deal just announced this morning.
Remember “Suzy ChapStick”?
ChapStick, the classic lip balm promoted by ski champ Suzy Chaffee, has returned to US ownership.
Yellow Wood Partners portfolio company Suave Brands today announced the acquisition of ChapStick, which is based in Richmond, Virginia, from UK-based Haleon, in a transaction worth about $430 million.
For more details on the transaction, including financials, subscribe to the premium version of the Wire to read more.
Aerospace aftermarket
Post-pandemic air travel is attracting PE firms such as Core Industrial Partners to invest in the aftermarket sector for the aviation industry. Earlier this month Core made a platform investment in Aviation Concepts, a provider of rotatable components to the aftermarket commercial aviation industry.
“Since the pandemic has waned, air traffic has significantly rebounded,” managing partner John May said. “We are seeing near record highs of new production orders for aircraft.”
Upgrade to the premium version of the Wire to read more.
Weaver Popcorn
My colleague Iris Dorbian interviewed AUA Private Equity Partners about the PE sponsor’s flavor profile for family-operated businesses, including Van Buren, Indiana-based Weaver Popcorn, a multi-generational popcorn snack company formed in 1928.
Weaver reached an inflection point before AUA entered the scene. There was no succession plan beyond the current fourth generation managing the company. Weaver needed guidance and support.
For more background on the family-run business, upgrade to the premium version of the Wire.
Scoop this!
This week H/Advisors Abernathy published its fourth annual “M&A Leaks” report, which tracks dealflow of M&A deals leaked in the news before deal announcements. Despite fewer M&A deals in 2023, the deal market slowdown spurred only 24% of announced transactions to be leaked by news outlets.
Upgrade to the premium version of the Wire to learn more.
That’s it for me this week. Obey Martin Manayiti will be back with you tomorrow for the Friday Wire.
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