ALPINE FINE FOODS acquired by KITWAVE GROUP

ntegrating Central Supplies into the Kitwave Group infrastructure secures a decisive logistical foothold in the UK chilled food landscape. This strategic maneuver establishes a complementary service offering that sits parallel to the group's industry-leading frozen operations, effectively removing the category friction for independent customers seeking a unified temperature-controlled supply chain. By unifying the target’s West Midlands technical operational depth with the group's national delivery framework, the organization constructs a comprehensive "multi-temp" platform optimized for high-frequency fulfillment

The buyout of Ital Express by Capza represents the transition of the commercial vehicle parts platform into its fifth institutional LBO cycle, marking a strict strategic shift toward programmatic cross-border M&A after a four-year holding period under Azulis Capital that focused exclusively on domestic organic expansion. This shareholding realignment involves the full exit of Société Générale Capital Partenaires, a partial equity roll-over from incumbent minor backers Azulis Capital and BNP Paribas Développement, and the entry of Crédit Agricole Nord-Est Partenaires to stabilize the funding structure

Midsona acquired 100% of the share capital of Alimentation Santé from Panzani SAS. The transaction was structured via a definitive share purchase agreement executed on a debt-free and cash-free basis, with the total consideration settled entirely in cash at closing. To finance the acquisition, Midsona secured a short-term bank bridge loan, which was later refinanced through an equity rights issue backed by its majority shareholder, Stena Adactum AB. This acquisition enabled the immediate integration of Alimentation Santé into Midsona's expanding European network as a standalone operating entity

IMCD signed an agreement to acquire 100% of E.T. HORN Company, purchasing all outstanding shares. The acquisition strengthens IMCD's US operations by adding HORN's established West and Southwest regional presence to its existing national platform, moving IMCD closer to full national US coverage with dedicated segment expertise. The transaction is financed from IMCD's available cash and existing credit facilities.

Equistone Partners Europe has acquired a majority stake in Groupe Bruneau from Weinberg Capital Partners. The transaction was structured as a secondary MBO designed to accelerate the group's geographical expansion and European footprint. As a premier French digital-native B2B distributor of workplace furniture, equipment, and office supplies, Groupe Bruneau leverages a high-performing e-commerce platform and state-of-the-art logistics infrastructure serving a highly loyal SME customer base. Equistone's investment thesis focuses on partnering with the incumbent management team to scale operations internationally, primarily driving growth through a programmatic buy-and-build and market consolidation strategy across the European workplace solutions sector

The transaction marks the third LBO for ECF Group, with Naxicap Partners acquiring a majority stake from Weinberg Capital Partners (WCP), Initiative & Finance, Salvepar, and Five Arrows. The deal followed a highly competitive auction process involving both financial sponsors (LBO France, Abénex, Florac, Gimv, Caravelle) and strategic bidders like Bunzl. The strategic rationale for Naxicap is to support the next phase of the group's international development and market consolidation. Since the previous LBO in 2011, the company successfully integrated the Australian leader Reward, significantly expanding its global footprint

The acquisition of the H B Clark by Kitwave signifies a major categorical advancement for the group’s Northern division. The strategic logic of this transaction hinges on a "sector-diversification" maneuver, merging the target’s technical operational depth in the alcoholic beverage market with the acquirer’s established logistics framework and national scale. This structural alignment provides the combined entity with the logistical hardware and category-specific talent necessary to address the increasing demand for consolidated supply solutions in the on-trade hospitality sector

The acquisition of GDD by Perrigo marks a definitive move toward the professionalization of the organization’s North American distribution framework. The strategic logic for this transaction centers on an "in-housing" maneuver, merging the target’s specialized logistical operational depth in the non-mass retail sector with the acquirer’s vast manufacturing and product portfolio. This structural alignment provides the combined entity with the logistical hardware and market-specific talent necessary to eliminate third-party dependencies and optimize the flow of OTC goods into fragmented institutional channels

The acquisition of Ital Express by Azulis Capital represents a secondary buyout facilitating the exit of LFPI Gestion after a six-year holding period dedicated to stabilizing the asset's core revenue base and broadening its product perimeter into light commercial vehicles. The ownership transition is designed to pivot the company from historical organic stability toward an aggressive capital deployment phase, focused on consolidating the highly fragmented domestic automotive and agricultural aftermarket through programmatic M&A

The acquisition of a majority stake in Ital Express by LFPI from CIC Finance represents a strategic ownership transition designed to unlock the next phase of the target's institutional growth after a highly successful three-year holding period that validated the scalability of its distribution model. The transaction secures full management continuity, with the leadership team reinvesting significantly alongside LFPI to capture fragmented market share in the industrial aftermarket distribution sector