Published by Global Banking & Finance Review®
Posted on February 13, 2026
1 min readLast updated: February 13, 2026
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Apax Partners withdrew its $792M offer for Pinewood Technologies due to challenging market conditions, affecting the firm's share price.
Feb 13 (Reuters) - Private equity firm Apax Partners withdrew its offer for British automotive service provider Pinewood Technologies <PINE.L> on Friday, citing prevailing challenging market conditions.
Apax Partners had proposed to buy Pinewood Technologies in a $792 million deal in late January, which had sent the shares of the London-listed firm up nearly 30%.
On January 29, Pinewood Technologies said that it was in discussions to finalize a 500 pence per share offer from the private equity firm, if a formal offer was tabled on or before February 26. The company, which offers a cloud-based platform for car dealerships and manufacturers, had already received multiple takeover bids from London-based Apax Partners.
Apax did not specify what challenging market conditions made it walk away from its offer, while Pinewood did not comment on Apax's statement immediately when contacted by Reuters.
(Reporting by Unnamalai L and Akshaya V in Bengaluru; Editing by Alan Barona)
Private equity refers to investment in companies that are not publicly traded on a stock exchange. Investors typically buy shares of private companies to gain control and improve their value before selling them for profit.
An acquisition is a corporate action in which one company purchases most or all of another company's shares to gain control. This can be done through cash, stock, or a combination of both.
Market conditions refer to the various factors that influence the performance of financial markets, including economic indicators, investor sentiment, and supply and demand dynamics.
Equity represents ownership in a company, typically in the form of shares. It reflects the value of a company after all liabilities have been deducted from its assets.
An investment is the allocation of resources, usually money, in order to generate income or profit. Investments can take various forms, including stocks, bonds, real estate, and more.
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