Advent International

Money Moves

Lead buyer in Heidrick take‑private and active consolidator across sectors

Before the market opened on December 11, Ares Management — a private-credit powerhouse with nearly $600 billion under management — slid into the S&P 500, replacing Kellanov. Kellanov completed its $35.9 billion sale to Mars that day.

Updated 6 days ago

Money Moves

Co-owner of TK Elevator; selling to Kone

Finland's Kone has agreed to buy Germany's TK Elevator for €29.4 billion, a deal that would collapse the elevator industry's long-standing 'Big Four' into three players. The combined company would maintain roughly 3.2 million elevators and escalators worldwide and generate about €20.5 billion in annual revenue, with roughly 65% coming from service and modernization contracts—the stable, recurring-fee side of the business that drives margins and makes this portfolio the strategic prize.

Updated Apr 30

Money Moves

Controlling shareholder exiting investment

Olaplex went public in September 2021 at a valuation north of $15 billion, riding a wave of consumer enthusiasm for its patented bond-repair hair treatments. Four and a half years later, after lawsuits alleging hair loss, a banned ingredient scandal, and relentless competition, German consumer goods conglomerate Henkel agreed to buy the company for $1.4 billion—roughly a tenth of what it was once worth.

Updated Mar 26