Middle Market Weekly Outlook

Axial
July 13, 2015

Tags

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).