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Top Highlights
3B BlackBio Dx, a biotechnology company, completed the acquisition of Coris Bioconcept, a company that develops, manufactures, and markets rapid diagnostic test kits, from Avacta Group, a biotechnology company that focuses on the development and commercialization of innovative cancer therapies and diagnostics, according to press releases. Financial terms were not disclosed.
SMG Capital, an investment company, completed the acquisition of Fabergé, a luxury brand, from Gemfields, a miner and marketer of coloured gemstones, for $50m, according to press releases.
SMG Capital was advised by DLA Piper. Gemfields was advised by Panmure Liberum (led by Scott Mathieson), Dyens & Co, Investec and DWF, according to MergerLinks data and press releases.
Cordiant Capital-backed Cordiant Digital Infrastructure, a company that provides digital infrastructure and trust services, completed the acquisition of BT Ireland, a telecommunications service provider that offers a wide range of network, cloud, and communication services, according to press releases. Financial terms were not disclosed.
Deal Round up
AMERICAS
Mumtalakat and CYVN to take full ownership of McLaren Racing. ( Sky News)
UK regulator opens probe into Greencore’s £1.2bn Bakkavor deal. ( CMA)
Aberdeen in exclusive talks to sell Finimize. ( Sky News)
Monte dei Paschi may raise Mediobanca bid with cash sweetener. ( La Repubblica)
Banco de Fomento Angola launches record IPO. ( Bloomberg)
Saudi delivery firm Ninja prepares for potential IPO. ( Bloomberg)
Naguib Kheraj shortlisted to become next HSBC chairman. ( Sky News)
APAC
Cheng family weighs $1.3bn capital injection into New World Development. ( Bloomberg)
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AMERICAS
Sycamore Partners, a private equity firm, completed the acquisition of CareCentrix, a home-centered care company that coordinates care for health plans, patients, and providers, according to press releases. Financial terms were not disclosed.
Sycamore Partners was advised by Joele Frank (led by Michael Freitag), according to MergerLinks data and press releases.
BravoTran, a payables automation platform for international freight forwarders, completed the acquisition of Keystroke.io, a specialized accounts receivable automation provider, according to press releases. Financial terms were not disclosed.
BravoTran was advised by Flanigan Communications (led by Dyana Flanigan), according to press releases.
The Advanced Manufacturing Company of America, an electronic components manufacturing services provider, completed the acquisition of Cal-Draulics, an engineering-focused supplier of high-precision hydraulic products for aerospace, according to press releases. Financial terms were not disclosed.
Amca was advised by Shedd Capital, according to press releases.
CapVest, a mid-market private equity firm agreed to acquire a majority stake in STADA, a healthcare and pharmaceuticals company specializing in consumer healthcare, generics and specialty pharmaceuticals, from Bain Capital and Cinven, a private equity firms, according to press releases. Financial terms were not disclosed.
CapVest is advised by Canson Capital Partners, Centerview Partners and ReputationInc (led by Ben Valdimarsson). Cinven is advised by JP Morgan, according to MergerLinks data and press releases.
Fullcast, a sales performance planning and execution platform, completed the acquisition of Ebsta, a revenue intelligence platform, according to press releases. Financial terms were not disclosed.
Mumtalakat and CYVN to take full ownership of McLaren Racing. ( Sky News)
Mumtalakat and CYVN are set to buy out the minority stakes in McLaren Racing held by MSP Sports Capital and other investors, in a deal valuing the Formula One team at more than £3bn ($4bn). The transaction marks a lucrative exit for the investors who helped rescue McLaren’s parent company during the pandemic.
The deal will see McLaren Group’s existing owners — Bahrain’s Mumtalakat sovereign wealth fund and Abu Dhabi-based CYVN — acquire the remaining 30% of McLaren Racing they do not already control.
UK regulator opens probe into Greencore’s £1.2bn Bakkavor deal. ( CMA)
The CMA had signaled in July that it was considering whether the £1.2bn ($1.62bn) deal could reduce competition in the UK or other markets.
Aberdeen in exclusive talks to sell Finimize. ( Sky News)
Aberdeen, the FTSE-250 asset management group, is in exclusive talks to sell Finimize, the investment insights platform it acquired for £87m ($118m) just four years ago. The move comes as the firm’s new chief executive continues to unwind parts of his predecessor’s strategy.
The identity of the preferred buyer remains unclear, though sources said London-listed marketing group Brave Bison was among those that had previously explored a deal.
Monte dei Paschi may raise Mediobanca bid with cash sweetener. ( La Repubblica)
The lender may consider adding a cash component to the bid in a move aimed at securing more than 50% of Mediobanca’s shares.
Banco de Fomento Angola launches record IPO. ( Bloomberg)
Banco de Fomento Angola, the country’s second-largest lender by assets, has begun selling shares in what could become Angola’s biggest-ever initial public offering.
Shares are being offered at between $44.8 and $54.3, with 2% reserved for employees, CFO Francisca Ferrao Costa said. The sale of a 29.75% stake could raise up to $239m, valuing the bank at about $801m.
Saudi delivery firm Ninja prepares for potential IPO. ( Bloomberg)
Saudi Arabia-based quick delivery company Ninja is seeking to hire investment banks to advise on a potential initial public offering that could take place as soon as next year.
The firm has invited proposals from prospective underwriters and financial advisers for the planned deal.
Naguib Kheraj shortlisted to become next HSBC chairman. ( Sky News)
City veteran Naguib Kheraj, a former deputy chairman of Standard Chartered and ex-Barclays finance chief, is among the candidates being considered to succeed Sir Mark Tucker as chairman of HSBC.
Kheraj has been shortlisted as one of a small group of contenders to take the helm of Europe’s largest bank.
APAC
TPG, an alternative asset management firm, completed a $150m investment in Hero Electronix-backed Tessolve, a semiconductor engineering services company, according to press releases.
Tessolve was advised by Jefferies & Company. TPG was advised by Rothschild & Co, according to press releases.
Intertek Group, a multinational company that provides testing, inspection, and certification services to a wide range of industries, completed the acquisition of Envirolab, a company that offers a wide array of environment testing and analytical services to support investigations of inorganic and organic contaminants and pollutants, according to press releases. Financial terms were not disclosed.
Intertek Group was advised by DGA Group (led by Jonathon Brill), according to MergerLinks data and press releases.
Lingong Group, a Chinese manufacturer specializing in construction and mining equipment, completed the acquisition of a 70% stake in SDLG, an international construction equipment manufacturer and service provider, from Volvo, a manufacturer of trucks, buses and construction machinery, for SEK8bn ($846m), according to press releases.
Cheng family weighs $1.3bn capital injection into New World Development. ( Bloomberg)
The Cheng family, controlling shareholders of New World Development, is considering injecting fresh capital into the debt-laden Hong Kong builder as soon as the end of this year.
The family of billionaire Henry Cheng is prepared to contribute around HKD10bn ($1.3bn) and is seeking a partner to provide a similar amount in exchange for an equity stake. The plan under discussion would form a joint venture to boost New World’s liquidity, though details of the deal’s size and structure remain subject to change.
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