Private equity is cleaning up its messes in public markets. They’re buying back unloved businesses floated as little as a few years ago on the cheap, and backing themselves to squeeze more money out of the same assets.
The big case globally is European pathology group Synlab, floated by PE investor Cinven at €18 ($30) a share in May 2021 and mostly bought back at €10 earlier this year.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
