Key Takeaways
- • Blackstone Tactical Opportunities is exiting US skincare business ZO Skin Health through a $1.5bn enterprise value all-cash sale to Swiss dermatology group Galderma, implying roughly 4.5 times ZO's $330m sales in the 12 months to June 2026.
- • Sellers include Blackstone-managed funds and the Obagi family; completion is expected in Q4 2026 or early 2027.
- • Ares Management made a structured capital investment in a 1.9GW portfolio of UK flexible energy projects developed by Statera Energy, comprising battery storage, wind and solar at different development stages, according to Renewables.digital; no transaction value was identified.
- • Blackford Capital acquired Virginia-based electrical contractor EG Middleton via its Habco Partnership platform, expanding into the Mid-Atlantic with about 120 employees.
- • Ara Partners acquired a majority stake in Pacific Ag, a US agricultural residue harvesting business operating in more than 30 states; Ara managed $10.6bn at end-June.
- • Benefit Street Partners, part of Franklin Templeton, expanded its asset-backed finance platform via a seed portfolio of about $480m in originated commitments from Encina Lender Finance, with 14 Encina professionals joining.
Summary
Blackstone Tactical Opportunities is exiting ZO Skin Health, a US skincare business, through a $1.5bn enterprise value sale to Swiss dermatology group Galderma, according to AltAssets. The all-cash transaction will see Galderma acquire the business from shareholders including Blackstone-managed funds and the Obagi family. ZO generated $330m of sales in the 12 months to June 2026, implying a transaction value of about 4.5 times revenue. Completion is expected in the fourth quarter of 2026 or early 2027.
Ares Management has made a structured capital investment in a 1.9GW portfolio of UK flexible energy projects developed by Statera Energy, according to renewable energy transaction database Renewables.digital. The portfolio comprises battery storage, wind and solar projects at different development stages. The investment adds to institutional financing activity across UK power infrastructure as developers seek capital for storage and generation assets. A transaction value was not identified in the available reporting.
Blackford Capital has acquired Virginia-based electrical contractor EG Middleton through its mechanical, electrical and plumbing services platform Habco Partnership, expanding into the Mid-Atlantic region. Founded in 1920, E.G. Middleton employs about 120 people and specialises in electrical infrastructure for military, industrial and commercial customers, including the US Navy and Newport News Shipbuilding. The acquisition adds high-voltage power distribution, substation and shipyard infrastructure expertise to Habco's operations.
Ara Partners has acquired a majority stake in Pacific Ag, a US agricultural residue harvesting and logistics business, through its infrastructure strategy. Founded in 1998, Pacific Ag operates across more than 30 US states, collecting crop residues such as corn stover and wheat straw and supplying customers in the animal feed, dairy and mushroom-growing industries. The firm plans to support Pacific Ag's expansion across the US agricultural supply chain. Ara Partners managed $10.6bn in assets at the end of June.
Benefit Street Partners, the credit arm of Franklin Templeton, has expanded its asset-backed finance platform through a transaction with Encina Lender Finance involving a seed portfolio of about $480m of originated commitments, which a Franklin Templeton and BSP-backed fund acquired. The $480m figure refers to portfolio commitments, not the acquisition price. Fourteen Encina investment professionals joined the $97bn alternative credit manager, which said the enlarged platform now has about 100 investment professionals and capacity to originate more than $3bn annually.
Ares Management has made a structured capital investment in a 1.9GW portfolio of UK flexible energy projects developed by Statera Energy, according to renewable energy transaction database Renewables.digital. The portfolio comprises battery storage, wind and solar projects at different development stages. The investment adds to institutional financing activity across UK power infrastructure as developers seek capital for storage and generation assets. A transaction value was not identified in the available reporting.
Blackford Capital has acquired Virginia-based electrical contractor EG Middleton through its mechanical, electrical and plumbing services platform Habco Partnership, expanding into the Mid-Atlantic region. Founded in 1920, E.G. Middleton employs about 120 people and specialises in electrical infrastructure for military, industrial and commercial customers, including the US Navy and Newport News Shipbuilding. The acquisition adds high-voltage power distribution, substation and shipyard infrastructure expertise to Habco's operations.
Ara Partners has acquired a majority stake in Pacific Ag, a US agricultural residue harvesting and logistics business, through its infrastructure strategy. Founded in 1998, Pacific Ag operates across more than 30 US states, collecting crop residues such as corn stover and wheat straw and supplying customers in the animal feed, dairy and mushroom-growing industries. The firm plans to support Pacific Ag's expansion across the US agricultural supply chain. Ara Partners managed $10.6bn in assets at the end of June.
Benefit Street Partners, the credit arm of Franklin Templeton, has expanded its asset-backed finance platform through a transaction with Encina Lender Finance involving a seed portfolio of about $480m of originated commitments, which a Franklin Templeton and BSP-backed fund acquired. The $480m figure refers to portfolio commitments, not the acquisition price. Fourteen Encina investment professionals joined the $97bn alternative credit manager, which said the enlarged platform now has about 100 investment professionals and capacity to originate more than $3bn annually.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.