In this article, we will emphasize the leading private equity investors in Southern Europe and Eastern Europe. Many of those transactions have occurred in the commercial products and commercial services sectors. Moreover, Audax is working to build out its portfolio of under-the-radar middle-market businesses. That said, this is little known to the wider public. Among the platforms the firm has been conducting add-ons with this year are Colony Hardware, which distributes tools to job sites. Furthermore, these include Imperial Dade, which sells disposable foodservice products and janitorial supplies; and Reedy Industries, provider of HVAC services.
Most notable this year has been HarbourVest’s stake in Hub International. Moreover, that is a global insurance brokerage that Hellman & Friedman acquired a majority interest in at a $4.4 billion valuation in 2013. Last year, Altas Partners bought into Hub at a $10 billion-plus valuation. In yet another instance of the insurance industry attracting heavy add-on attention, Hub has completed 18 platform acquisitions. According to PitchBook data, in the US in 2019, making for a significant portion of HarbourVest’s activity.
Genstar Capital has been busy backing add-ons in the insurance space That said, a trend that indicates just how active some private equity firms have been in attempting to consolidate the industry. The most acquisitive insurance company in Genstar’s portfolio is Alera Group It is a provider of various insurance, employee benefits, and other services that the firm helped create in 2017. Already this year, it’s sealed 10 separate takeovers, per PitchBook data.
Most Active in Central & Eastern Europe and Southern Europe
Mercer Advisors, another Genstar portfolio company, has also had a busy year, conducting more than a half-dozen add-ons of its own. Over the summer, reports emerged that Genstar was seeking a sale of the company. Later, in September, the firm and co-investor Lovell Minnick Partners sold a portion of their stake in Mercer to Oak Hill Capital as part of a recapitalization.
Leading private equity investor are according to Pitchbook; Ardian and high on the list Investindustrial.
Breaking down their deals even further, the most active firms tended to invest largely in B2B and IT deals Moreover, accounting for 160 of these firms’ 251 total deals or nearly 64% of deals, as indicated by the pie chart. This is a small step up from private equity as a whole, which invested 58% in the two sectors.
Read more about venture capital investors, in our recent blog post on leading venture capital investors.