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Home > Finance > Apax Partners walks away from Pinewood deal, citing tough market conditions

Apax Partners walks away from Pinewood deal, citing tough market conditions

Published by Global Banking & Finance Review®

Posted on February 13, 2026

1 min read

Last updated: February 13, 2026

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Tags:equity market conditions investment private equity acquisition

Quick Summary

Apax Partners withdrew its $792M offer for Pinewood Technologies due to challenging market conditions, affecting the firm's share price.

Apax Partners Abandons Pinewood Technologies Acquisition Amid Market Struggles

Apax Partners Withdraws Acquisition Offer

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.

Details of the Proposed Deal

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%.

Market Conditions and Reactions

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.

Company Responses

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)

Key Takeaways

•Apax Partners withdrew its $792 million offer for Pinewood Technologies.
•The proposed deal had increased Pinewood's share price by 30%.
•Market conditions were cited as the reason for the withdrawal.
•Pinewood Technologies had multiple takeover bids from Apax.
•No specific market challenges were detailed by Apax.

Frequently Asked Questions about Apax Partners walks away from Pinewood deal, citing tough market conditions

1What is private equity?

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.

2What is an acquisition?

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.

3What are market conditions?

Market conditions refer to the various factors that influence the performance of financial markets, including economic indicators, investor sentiment, and supply and demand dynamics.

4What is equity?

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.

5What is an investment?

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.

Apax Partners Withdraws Acquisition Offer

Details of the Proposed Deal

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%.

Market Conditions and Reactions

Company Responses

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)

Key Takeaways

•Apax Partners withdrew its $792 million offer for Pinewood Technologies.

•The proposed deal had increased Pinewood's share price by 30%.

•Market conditions were cited as the reason for the withdrawal.

•Pinewood Technologies had multiple takeover bids from Apax.

•No specific market challenges were detailed by Apax.

Frequently Asked Questions

1What is private equity?

2What is an acquisition?

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.

3What are market conditions?

Market conditions refer to the various factors that influence the performance of financial markets, including economic indicators, investor sentiment, and supply and demand dynamics.

4What is equity?

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.

5What is an investment?

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.