European Event-Driven Analyst

Jesus Rodriguez Aguilar

Jesús is an Insight Provider (Event-driven) on the Smartkarma network, where he looks across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations. He has served as Economic and Business Advisor at the Spanish Congress in Madrid. Prior to that, he has worked in the City of London: as a Credit Analyst at Bloomberg; Event-driven associate at former boutique European Research; and doubled as Special Situations and Equity-linked VP (convertible bonds) at Merrill Lynch. Jesús has an MBA from the London Business School, a BA (Hons.) degree in Economics from the Complutense University in Madrid, and a BA (Hons.) in Law from U.N.E.D., also in Madrid.

Ridgeview/Pinewood Technologies: Back in the Driver's Seat

Ridgeview/Pinewood Technologies: 3p to Go

Pinewood Technologies: Apax Takes the Wheel

Event-Driven

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<li>
Rule 2.8 reset: Apax has formally walked under Rule 2.8, restricting a return until 13 August 2026. The 500p take-private is off the table, removing near-term M&amp;A optionality.</li>
<li>
Premium unwind in progress: At 436.5p, the stock still embeds residual bid premium. Precedent suggests 70–90% premium retracement, implying a likely near-term clearing range around 405–410p.</li>
<li>
Re-Anchor to fundamentals: At ~12.2x FY27E EBITDA, valuation is converging toward public SaaS levels. A move into 390–410p would likely present more asymmetric risk/reward for fundamental accumulation.</li>
</ul>



Rule 2.8 reset: Apax has formally walked under Rule 2.8, restricting a return until 13 August 2026. The 500p take-private is off the table, removing near-term M&amp;A optionality.

Premium unwind in progress: At 436.5p, the stock still embeds residual bid premium. Precedent suggests 70–90% premium retracement, implying a likely near-term clearing range around 405–410p.

Re-Anchor to fundamentals: At ~12.2x FY27E EBITDA, valuation is converging toward public SaaS levels. A move into 390–410p would likely present more asymmetric risk/reward for fundamental accumulation.


Pinewood: Bid Break, Premium Reset – Where Does It Clear Now?