3G Capital to Take Tariff-Hit Skechers Private for $9.4 Billion

3G Capital will acquire footwear maker Skechers USA Inc.for $9.4 billion, marking a splashy return to dealmaking for the investment firm after nearly four years.

The take-private deal — a mix of cash and debt — was part of roughly $30 billion in M&A announced on Monday, suggesting dealmakers are itching to reverse a sharp slowdown that followed President Donald Trump’s April tariff announcements. The $5 billion in debt from JPMorgan Chase & Co. is also a sign that the leveraged finance markets are beginning to reopen.

The deal further suggests opportunities for private equity in tariff-hit sectors like ...