TPG Capital has formally withdrawn its offer to acquire InvoCare almost a month after Australia’s largest listed funeral company said the private equity firm’s AUD1.8 billion ($1.2bn) buyout proposal was too low, according to a report by The Financial Review. TPG and InvoCare have been in dialogue since TPG submitted an offer of AUD12.65 per share which represented a 41% premium to the company’s share price prior to the bid. But the PE firm, which now holds a 19.9% stake in the business having acquired the holdings of several institutional investors including Aware Super, has now formally withdrawn its offer.

TowerBrook Capital Partners, a London and New York-based private investment firm and the first mainstream private equity firm to be certified as a B Corporation, has made the first investments as part of its impact strategy.

The volume of venture capital and private equity investment in Spain hit a new record high of €9.24 billion across 958 investments in 2022, according to the latest data from SpainCap, with international funds making a record €7.406 million of investments. Domestic private funds meanwhile, made €1.685 million of investments across 592 investments, while domestic public funds provided €147 million in 144 investments.  Over the course of the year, 15 megadeals (more than €100m) were closed, while mid-market transactions (€10m-€100m) accounted for 33% of the total volume invested, with 114 investments made in 2022.   Divestment (at cost) amounted to

Global infrastructure investment manager Squared Capital, through its ISQ Global Infrastructure Fund III, is to acquire Enva, an environmental services platform providing specialised, and regulated waste management services in the UK and Ireland. The deal is part of I Squared’s investment strategy to build a diverse portfolio of waste processing and recycling, industrial waste-to-energy, and wastewater treatment assets in the Americas, Europe, and Asia-Pacific. That portfolio also includes US-based VLS Environmental Solutions and Australia-based Soilco, as well as an industrial-waste-to-energy plant in Taiwan and multiple wastewater treatment facilities in China. Enva conducts waste collection, processing, and resource recovery at 34

A&M Capital Europe, a London-based middle-market private equity investment firm with €650 million of assets under management, has acquired a majority stake in World of Sweets and Bobby’s, from Sculptor Capital Management, Inc.

US private equity firm Olympus Partners has agreed to acquire a majority ownership stake in International Wire Group Holdings from Atlas Holdings for a purchase price “slightly in excess of” $900 million. Atlas, which acquired IWG in April 201, will continue as an investor in the company.  Following the close of the transaction, which is expected to happen in the second quarter of 2023, longtime industry specialist Gregory J Smith will continue as president and chief executive officer of IWG.  Headquartered in Camden, New York, IWG is the largest non-vertically integrated copper and copper-alloy wire products manufacturer in the United

Sureserve Group PLC has agreed to a £214.1 million takeover by Cap10 4NetZero Bidco Ltd, a new company indirectly owned by funds managed and/or advised by private-equity firm Cap10 Partners LLP, according to a report by ProActive Investors.

TOP STORY: Abrdn is considering individually offloading a batch of private equity businesses, which collectively hold about $12 billion of investments, after failing to find a single buyer to acquire the entire portfolio, according to a report by Reuters.

Private investment firm GI Partners is to take infrastructure and environmental solutions provider Atlas Technical Consultants private in an all-cash deal valued at around $1.05 billion, including debt, according to a report by Financier Worldwide. Under the terms of deal, GI Partners will pay Atlas shareholders $12.25 per share in cash, which represents a premium of approximately 124% over the company’s unaffected closing share price of $5.47 on 30 January 2023.  Upon completion of the transaction, which has been unanimously approved by Atlas’ board of directors and is expected to close in the second quarter of the year, the company’s