MC Insider: Strategics trump private equities and a deal for thought

This private equity firm which has a mouth-watering IPO pipeline across sectors managed to trump strong competition from rival suitors and bag a sought-after consumer asset last year. The target firm is a household name with a Greek link and now we hear that the same financial sponsor is mulling a boutique dessert play to complement its existing menu. Any guesses?

Whispers on Deal Street suggest that a clutch of bidders is circling this asset in the industrials space, which shares its name with a regulatory body. The target’s overseas parent, which has faced litigation hurdles, is in exit mode, and we pick up that most of the suitors have emerged as strategics, rather than private equity funds. Final bids are expected soon for this process, which is being run by a US investment bank.