Download PDF Introduction Once seen as too unpredictable, consumer brand leveraged buyouts have grown in popularity over the past two decades. Fashion cycles and shifts in consumer preferences increase the risk of such buyouts, as cash flow generation is, in general, less certain. Yet deals such as Permira’s acquisition of Read more…
Download PDF Introduction Commercial sports, from football to ice hockey, have captivated fans across the globe and it is no surprise that this has turned the heads of investors. The industry has seen ever-growing revenues coming from broadcasting rights, merchandising and sponsorship deals. Consequently, sports franchises have become an attractive Read more…
Download PDF Introduction Grindr [GRND:NYSE], an online dating app targeted towards the LGBTQ+ community, went public on November 18, 2022 after completing a merger with Tiga Acquisition Corp., a Special Purpose Acquisition Company (SPAC), at an initial post-transaction enterprise value of $2.1bn. The leading social network for the LGBTQ+ community Read more…
Download PDF Introduction In 2010, it was a head-scratcher as to why FIFA would pick Qatar as the 2022 World Cup host. A single football stadium, scorching heat, and a national team ranked 96th in the FIFA world ranking. FIFA’s own technical committee rated it the worst of all bids Read more…
Download PDF Introduction On November 11th, crypto trading startup FTX filed for bankruptcy protection in the US just three days after admitting to being unable to meet $5bn in customer withdrawals. Sam Bankman-Fried, a 30-year-old trader and founder of the crypto exchange, resorted to filing in a Delaware federal court Read more…
Download PDF Introduction The second biggest cosmetics company by revenue in the world, Estée Lauder [NYSE: EL] has announced on November 15 that it has signed an agreement to buy the fashion house Tom Ford brand for $2.8bn making it the largest acquisition within the luxury world this year. The Read more…
Download PDF Introduction On November 10th 2022, Origin Energy Ltd. [ASX : ORG], received and backed an $11.8bn takeover bid from a consortium led by Canada’s Brookfield Asset Management [NYSE : BAM] and private equity firm EIG Global Energy Partners. The business is to be split up, with Brookfield acquiring Read more…
Download PDF Introduction On October 31st, Thermo Fisher Scientific [TMO: NYSE], one of the global leaders in the supply of scientific instrumentation, announced that it had entered a definitive agreement to acquire The Binding Site Group, a Birmingham-based specialty diagnostics firm. European private equity firms Nordic Capital and Five Arrow Read more…
Download PDF Introduction On October 27th, Elon Musk – the richest person in the world with a net wort of almost $200bn – finalized the acquisition of the social media company Twitter, Inc, for a total enterprise value of approximately $44bn. Musk is the co-founder and CEO of Tesla [TSLA Read more…
Download PDF Introduction On November 1 Johnson & Johnson, an American multinational which develops medical devices and is ranked 36 in the fortune 500 companies with yearly sales of $98.3bn, announced its proposal to acquire AbioMmed [ABMD: NASDAQ], a cardiovascular technology group. The acquisition, worth $16.6bn, will make Johnson & Read more…
Download PDF Introduction On November 1, 2022, Poseidon Acquisition Corp. entered into a definitive agreement to acquire Atlas Corporation (NYSE: ATCO) in an all-cash deal of nearly $10.9bn (about €10.9bn). The investment vehicles backed by David L. Sokol, Chairman of Atlas’ Board of Directors, affiliates of the Washington Family, Canadian Read more…
Download PDF Introduction On the 31st of October 2022, Emerson [EMR: NYSE] announced a definitive agreement under which it would sell a majority stake in its Climate Technologies company to private equity funds managed by Blackstone [BX: NYSE] in a deal valued at $14bn. Emerson will keep a non-controlling ownership Read more…
Download PDF Introduction On the 28th of September 2022, Shell acquired the Nigerian-owned renewable energy company Daystar Power. This purchase represents a bold move for Shell since it is its first acquisition of a power company in Africa. This deal may be what Daystar Power needs to handle the recent Read more…
Download PDF Introduction On the 26th of October, Intel’s Mobileye made its debut on the NASDAQ (MBLY:NASDAQ), offering c. 46.26m Class A shares, about 6% of the total shares outstanding (816m). The stock opened at $26.71, more than 27% higher than the IPO Price of $21/share: this brought Mobileye to Read more…
Download PDF Introduction Today, private equity funds are facing a major challenge. General partners can no longer rely on multiple expansion and leverage to boost fund returns. As interest rates are being hiked to combat surging inflation, debt is harder to assume, and valuations are coming down across the board. Read more…