Take-privates — where a publicly traded company is acquired and de-listed from the stock exchange to allow restructuring without public market pressures — are growing in popularity. One reason for this trend is that some underperforming public companies are trading at discounted valuations, making them attractive targets for buyouts.
Indeed, 2025 proved to be a bumper year for take-privates, with NAMR and EMEA seeing record-breaking volumes. In the U.S. alone, there were 26 take-private deals in the first half of the year, including the landmark acquisition of global footwear brand Skechers by 3G Capital. J.P. Morgan acted as the lead arranger for the $6.5 billion debt sale, which marks the footwear industry’s biggest buyout to date.
More recently in September, J.P. Morgan advised a consortium of private equity investors — including Saudi Arabia’s Public Investment Fund (PIF), Silver Lake and Affinity Partners —on the $55 billion buyout of American video game company Electronic Arts. The transaction marked the largest all-cash sponsor take-private in history. As part of the deal, J.P. Morgan was the sole provider of $20 billion in committed debt financing, representing the largest ever non-investment grade debt financing underwritten by a single firm.
This trend is further exemplified by the recent take-private of Sealed Air, the U.S. packaging company best known for inventing bubble wrap. J.P. Morgan acted as financial advisor to private equity firm CD&R in the $10.3 billion acquisition, and also provided committed financing. “The Sealed Air transaction reflects the growing popularity of take-private deals, as investors increasingly seek opportunities to unlock value and drive transformation in established companies,” Whidden noted. “We’re seeing strong interest from financial sponsors who recognize the potential for strategic growth and innovation through transactions like this, which bring together industry leaders and long-term capital.”