Middle Market Weekly Outlook

Good morning, all. PE Hub discusses the possible impacts of turmoil in Greece on private equity, with the general consensus that effects will be minimal. While hedge and credit funds were deemed more likely to worry about exposure effects in Greece, private equity sources claimed concern for possible ripple effects to investments in surrounding countries.

Meanwhile, Pitchbook released a visual breakdown of global PE in 2Q 2015. Statistics show a continued downward trend in capital raised, but fund count has grown for the first time since 4Q 2013. However, capital exited in North America is up 54% from 1Q, even though the number of exits is down.

Transactions

• RoundTable Healthcare buys TIDI Products
• Excelsior Capital buys Artissimo Designs
• Palladium acquires TransForce
• Harvest completes DCA acquisition from Quad-C
• Actis sells Mouka
• High Road Capital buys Ariad Communications
• Skyview Capital to buy Syncplicity from EMC
• Sun Capital exits stake in Italian restaurant chain Fazoli’s
• Verallia buyout financing on hold after Greek vote
• Baring’s Vistra buy backed with $700M leveraged loan
• GHJ&M recaps Stellar Materials

Opinions

• A visual recap of global M&A in 2Q 2015
• A visual breakdown of global PE activity in 2Q 2015
• Business coaching for senior executives at private equity backed companies
• Let’s make a deal–mega mergers drive the M&A frenzy
• Bankers hedge bets on M&A bonds in rocky markets
• Banks pocket handsome M&A fees as industry witnesses strongest quarter since the downturn
• Insurers choose their partners, so how big will the dance floor be?
• Sponsor loan volume dips along with LBOs
• Private equity sheds few tears over Greek tragedy
• CEOs, deals in focus at ‘summer camp for moguls’
• Private equity’s dirty little secret: why operating partners don’t make sense
• $32 billion of US deals at risk
• 3Q 2015 U.S PE Breakdown
• After meteoric rise, PE-backed IPOs return to earth
• How a chaotic greek exit could wipe out $1.4 trillion in M&A
• Unequal terms alienate smaller investors
• Obstacles in regulators’ push to reduce leveraged loans
• Private mid-market company earnings rose in Q2
• June M&A grew more than may, but less than April
• M&A debt needs pile up as bond-market pause belies upcoming deluge
• Wave of midstream M&A is coming

This week in history…In line with the Pentagon’s efforts to scuttle Lockheed Martin’s slated mega-merger with fellow defense giant Northrop Grumman, the administration announces plans to bring Lockheed to court on anti-trust charges (1998).