Blackstone Tactical Opportunities is exiting US skincare business ZO Skin Health through its $1.5bn enterprise value sale to Swiss dermatology group Galderma.
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.
A transaction value was not identified in the available reporting.