Middle Market Weekly Outlook

Good morning, all. Hope you didn’t step on any undiscovered eggs during the commute this morning.

Last week, research uncovered that the average PE fund life span now exceeds 13 years. The “unprecedented” length, which is an increase of the average life span of 11.5 years in 2008, is blamed on the general economic challenges and modest asset valuations over the same time period. The longer life span could explain why Q1’15 fundraising was so slow, with only 82 funds closing.

Transactions:

• Riverside Partners invests in R&D Altanova
• Fortune Brands to buy Norcraft
• Huron Capital mergers Bloomer Plastics and Optimum Plastics
• TowerBrook to acquire J. Jill
• Vista Equity Partners backs Lone Wolf Real Estate Technologies
• Stone Point buys Black Mountain
• Bridgepoint raises $4.3 billion for mid-market fund
• Norbord and Ainsworth complete merger
• Enterprise acquires City Car Club
• Arcus Hunting buys Obsession Archery
• Albireo Energy acquires Sky Technology
• San Francisco Equity Partners buys stake in Japonesque
• NewSpring invests in USPack Logistics
• Monroe Capital provides credit facility to Precision Toxicology
• Boston Scientific agrees to acquire Xlumena
• Leonard Green & Partners in talks to acquire Bass Pro Shops
• Patriot National acquires TriGen Insurance Solutions
• Babson Capital Management supports Blue Point Capital’s buy of Handi Quilter
• PE-backed buyout deals at highest level since crisis
• India Value raises $700 million fund
• Irving Place Capital completes Bendon acquisition

Opinions:

• There were 4 huge biotech mergers last week
• PE’s next frontier: Insurance BPO drives higher valuations
• PE is changing slower than you’ve heard
• Biggest banks absent from biggest deal of year
• Bad times for investment banker are here to stay
• Wall Street and Silicon Valley form an uneasy partnership
• Why investors should expect more mergers in 2015
• 5 things to know about pre-IPO stocks
• PE firms gaining muscle with gym deals
• Bad memories: PE funds go slow in India
• Lynn Tilton and her PE firm accused of defrauding investors
• PE deals poised for takeoff in Florida
• Concerns raised over direct investments
• Are pro sports teams a win for PE?
• Everywhere, hospitals are merging — but why should you care?
• Let’s not make a deal? PE dealmaking cools
• Why PE firms are looking at Groupon
• The biggest mergers & acquisitions in industrials

This week in history… The French government rules against the privatization of Renault (1986).