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Top Highlights
Private equity firms 65 Equity Partners and Inflexion agreed to invest in Kee Safety, a provider of safety systems and solutions, according to press releases. Financial terms were not disclosed.
Kee Safety is advised by Grant Thornton, Rothschild & Co, Clifford Chance, Freshfields Bruckhaus Deringer, Gateley, Thinking Legal, Code & Co, Aon Securities, Marsh, strategy& and ERM Group. 65 Equity Partners and Inflexion are advised by PricewaterhouseCoopers, Latham & Watkins (led by Paul Dolman), Travers Smith (led by Tom Hartwright and Adam Orr), G3, AJ Gallagher, CIL Management Consultants and KPMG, according to press releases and MergerLinks data.
DAZN, a sports streaming and entertainment platform, completed the acquisition of a majority stake in Foxtel, an Australian pay television company—operating in cable television, direct broadcast satellite television, and IPTV streaming services, from News Corp, a global diversified media and information services company, and Telstra, an Australian telecommunications company, according to press releases.
Hope Bancorp, the holding company of Bank of Hope, completed the merger with Territorial Bancorp, the stock holding company of Territorial Savings Bank, in a $79m deal, according to press releases.
Hope Bancorp was advised by D.A. Davidson & Co and Greenberg Traurig. Territorial Bancorp was advised by Keefe Bruyette & Woods (led by Pat McJoynt-Griffith), Luse Gorman and Joele Frank (led by Barrett Golden) , according to press releases and MergerLinks data.
Deal Round up
AMERICAS
Brookfield set to acquire Colonial Pipeline in $9bn-plus deal. ( Reuter)
Ecopetrol plans SierraCol acquisition to expand oil reserves. ( Bloomberg)
SmartStop Self Storage REIT raises $810m in US IPO. ( Bloomberg)
PGIM Real Estate raises $2bn for Global Data Center Fund. ( Press Release)
EMEA
Brookfield revives talks on potential Grifols offer. (Bloomberg)
UniCredit explores options beyond Agricole deal amid BPM tensions. (Bloomberg)
Credit Agricole approved to lift Banco BPM stake to 19.8%. (Bloomberg)
APAC
Esquire Financing weighs stake sale at $1bn valuation. ( Bloomberg)
Dongfeng Motor and Changan Auto in merger talks. ( Reuters)
Delay in CK Hutchison port deal raises concerns over China’s influence in Hong Kong. ( Reuters)
CGV considers IPO of theater technology unit CJ 4DPlex. ( Bloomberg)
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AMERICAS
AeroVironment announced that its shareholders have approved the issuance of common stock for the company’s pending acquisition of BlueHalo. The approval was granted at a special meeting of stockholders held on April 1, marking a key step toward completing the transaction, according to press releases.
Converge Technology Solutions Corp. announced an amendment to its previously disclosed arrangement agreement with an affiliate of H.I.G. Capital, initially dated February 6, 2025, according to press releases.
Under the revised terms, H.I.G. will acquire all outstanding common shares of Converge at a cash price of CAD6.00 ($4.2) per share—an increase from the earlier offer of CAD5.50 ($3.8)—excluding shares held by certain investors who will participate through rollover equity agreements.
Converge Technology Solutions is advised by Canaccord Genuity, Houlihan Lokey, Origin Merchant Partners and Goodmans. HIG Capital is advised by Stikeman Elliott and Weil Gotshal and Manges (led by Tana Ryan and Navneeta Rekhi) , according to press releases and MergerLinks data.
RPC, a provider of a broad range of specialized oilfield services and equipment, completed the acquisition of Pintail Completions, a provider of oilfield wireline services in the Permian basin, for $245m, according to press releases.
May River Capital, a private equity firm, completed the acquisition of Global Pump Solutions, a pump manufacturer, from CECO Environmental, a provider of environmental and industrial equipment, according to press releases. Financial terms were not disclosed.
May River Capital was advised by TD Securities and Paul Hastings. CECO Environmental was advised by EC M&A and Koley Jessen, according to press releases.
The Quality Group, a sports nutrition, supplements and health food company, agreed to acquire RAW Nutrition, a sports nutrition company, according to press releases. Financial terms were not disclosed.
RAW Nutrition is advised by Lazard, Fredrikson & Byron and Jack Taylor PR. The Quality Group is advised by Rothschild & Co, according to press releases.
Comcast, a media company, completed the acquisition of Nitel, a Chicago-based managed services provider specializing in network-as-a-service solutions, from Cinven, a private equity firm, according to press releases. Financial terms were not disclosed.
Nitel was advised by Jefferies & Company. Comcast was advised by Davis Polk & Wardwell (led by Brian Wolfe). Cinven is advised by Joele Frank (led by Jonathan Keehner) , according to press releases.
Phillips 66, an energy manufacturing and logistics company, completed the acquisition of EPIC NGL, a natural gas liquids pipelines, fractionation facilities and distribution systems operator, for $2.2bn, according to press releases.
EPIC NGL was advised by Jefferies & Company. Phillips 66 was advised by Wachtell Lipton Rosen & Katz (led by Gregory Ostling) , according to press releases.
McKesson, a diversified healthcare services provider, completed the acquisition of an 80% stake in PRISM Vision, a provider of general ophthalmology and retina management services, from Quad-C, a private equity firm, for $850m, according to press releases.
McKesson was advised by Citigroup and Davis Polk & Wardwell (led by Patrick E. Sigmon) , according to press releases.
Tinicum, a private investment firm, agreed to acquire Aerospace Products Group, a supplier of complex, highly engineered tube and duct assemblies for use primarily in commercial and military aircraft platforms, from Leggett & Platt, an American diversified manufacturer, for $285m, according to press releases.
Leggett & Platt is advised by Lazard and Freshfields Bruckhaus Deringer, according to press releases.
INEOS Energy, an energy company, completed the acquisition of Gulf of Mexico business of CNOOC, a global energy company, according to press releases. Financial terms were not disclosed.
INEOS was advised by Firstlight PR. CNOOC was advised by Porda Havas, according to press releases.
Kensington, a Canadian alternative asset management firm, completed the acquisition of venture capital investment business from ONE9, a venture capital firm, according to press releases. Financial terms were not disclosed.
Kensington was advised by Boulevard Public Relations (led by Jodi Echakowitz) , according to press releases.
Eaton, an intelligent power management company, completed the acquisition of Fibrebond, a designer and builder of pre-integrated modular power enclosures for data center, industrial, utility and communications customers, for $1.4bn, according to press releases.
Gainsight, a customer success and product experience software, completed the acquisition of Skilljar, a learning management software, according to press releases. Financial terms were not disclosed.
Brookfield set to acquire Colonial Pipeline in $9bn-plus deal. ( Reuters)
Brookfield Asset Management is finalizing a deal to acquire Colonial Pipeline, the largest fuel transportation network in the US, for over $9bn including debt.
The New York-based firm has reportedly emerged as the winning bidder in an auction process led by the pipeline’s five owners over the past several months. The terms remain confidential.
Ecopetrol plans SierraCol acquisition to expand oil reserves. ( Bloomberg)
Ecopetrol, Colombia’s state-owned oil company, is considering acquiring SierraCol, the country’s largest independent oil producer, to boost its reserves and production.
Carlyle is looking to sell SierraCol for $1.5bn after buying it from Occidental Petroleum in 2020 for about $825m.
SmartStop Self Storage REIT raises $810m in US IPO. ( Bloomberg)
SmartStop Self Storage REIT raised $810m in its US initial public offering, pricing shares in the lower half of its marketed range.
The California-based company sold 27m shares at $30 each. It had originally marketed the shares at $28 to $36 before narrowing the range to $28 to $35 ahead of the listing.
Circle has filed for a long-anticipated initial public offering, revealing steady revenue growth from its stablecoin business.
The company reported net income of $156m on $1.68bn in revenue for 2024, compared with $268m in net income on $1.45bn in revenue the previous year, based on its filing with the US Securities and Exchange Commission.
PGIM Real Estate raises $2bn for Global Data Center Fund. ( Press Release)
PGIM Real Estate has completed fundraising for its first Global Data Center Fund, securing $2bn in capital from a broad base of international investors.
The fund follows a build-fill-sell strategy focused on low latency hyperscale assets, aiming for opportunistic returns. Since its initial close in July 2023, it has been assembling a geographically diverse portfolio across key data center markets in North America, Asia Pacific and Europe.
EMEA
A minority shareholder has criticized Prosus’s €4.1bn ($4.3bn) offer for Just Eat Takeaway, calling it significantly below fair value.
BDL Capital Management, which holds about 2.18% of Just Eat’s shares, said the €20.3 ($21.9) per share offer undervalues the Amsterdam-based food delivery company. The Paris-based firm made the statement in an effort to disrupt the deal.
Just Eat Takeaway is advised by Gleacher Shacklock, Lazard, Morgan Stanley, De Brauw Blackstone Westbroek (led by Gaby Smeenk, Frank Hamming and Helen Gornall), Freshfields Bruckhaus Deringer (led by Hanneke Rothbarth and Jan Willem van der Staay) and Confidant Partners. Prosus is advised by Goldman Sachs (led by Clif Marriott), A&O Shearman (led by Olivier Valk and Tim Stevens), Davis Polk & Wardwell, Skadden Arps Slate Meagher & Flom (led by Ingrid Vandenborre), Brunswick Group and FGS Global , according to press releases and MergerLinks data.
Centerbridge is seeking to cancel its agreement to acquire an Italian bank from Oaktree, following a crisis triggered by allegations the lender financed companies tied to the mafia.
Red UK Holdco, an affiliate of Centerbridge, filed a case in London asking the court to confirm its right to terminate the deal to buy Banca Progetto with immediate effect. The filing claims the bank failed to resolve anti-money laundering issues before the deal was signed in September.
Banca Progetto is advised by Image Building. Centerbridge Partners is advised by JP Morgan, Kitra Advisory, Greenberg Traurig, Linklaters and Kekst CNC. Oaktree Capital is advised by Morgan Stanley, White & Case and FGS Global, according to press releases and MergerLinks data.
Greencore, a manufacturer of convenience food, to acquire Bakkavor, an international food manufacturing company specialising in fresh prepared foods, for $1.6bn, according to press releases.
MDA Space, a mission partner to the rapidly expanding global space industry, agreed to acquire SatixFy, a provider of next-generation satellite communication solutions, for $193m, according to press releases.
SatixFy is advised by TD Cowen, Goldfarb Seligman & Co and Sullivan & Worcester. MDA Space is advised by Citigroup and Norton Rose Fulbright, according to press releases and MergerLinks data.
Mehiläinen, a healthcare and social care provider in Finland, agreed to acquire Regina Maria, a private healthcare company in Romania, and MediGroup, a healthcare company in Serbia, from MidEuropa, a private equity firm, according to press releases. Financial terms were not disclosed.
Mehiläinen is advised by Jefferies & Company and White & Case (led by Petr Panek). Hellman & Friedman is advised by Kirkland & Ellis (led by Keir MacLennan) MidEuropa is advised by Rothschild & Co, according to press releases and MergerLinks data.
AP Moller Holding, a privately held investment company, agreed to acquire Svitzer, a Denmark-based global towage and marine services provider, for $1.3bn, according to press releases.
Phoenix Beverages, a beverage producer with a rich legacy in brewing, soft drink manufacturing, and spirits distribution, agreed to acquire a 54.4% stake in Seychelles Breweries, a beverage company in the Seychelles, from Diageo, a British multinational alcoholic beverage company, according to press releases. Financial terms were not disclosed.
Brookfield revives talks on potential Grifols offer. ( Bloomberg)
Brookfield Asset Management has reopened discussions with the main shareholder of Grifols over a possible bid for the Spanish blood-plasma company, following a failed attempt in 2024.
Talks with the Grifols family, which holds a majority stake, are ongoing. It remains uncertain whether Brookfield will proceed with a formal offer.
UniCredit explores options beyond Agricole deal amid BPM tensions. ( Bloomberg)
UniCredit is considering alternatives to its agreement with Credit Agricole’s asset management arm, as tensions grow over the French bank’s stance on its takeover bid for Banco BPM.
Italy’s second-largest bank is reviewing potential replacements for Amundi once its current sales partnership expires in about two years.
Credit Agricole approved to lift Banco BPM stake to 19.8%. ( Bloomberg)
Credit Agricole has received approval from the European Central Bank to increase its stake in Banco BPM to just under 20%, strengthening its role in the ongoing consolidation of Italian finance.
The French lender plans to take physical delivery of all Banco BPM shares tied to its derivatives position, raising its stake to 19.8% from the current 9.9% held through financial instruments.
APAC
Qualcomm, an American multinational semiconductor and telecommunications equipment company, completed the acquisition of VinAI division from Vingroup, a Vietnamese conglomerate company, according to press releases. Financial terms were not disclosed.
Esquire Financing weighs stake sale at $1bn valuation. ( Bloomberg)
The owners of Esquire Financing are considering selling a stake in the Manila-based lender, targeting a valuation of up to $1bn.
Founder Rajan Uttamchandani, his family, and Crescent Point Capital, backed by Ares Management, are working with an adviser on a potential sale of a significant minority stake.
Dongfeng Motor and Changan Auto in merger talks. ( Reuters)
Chinese automakers Dongfeng Motor and Changan Auto are in advanced discussions to merge their operations.
Both companies, controlled by the central government, have held detailed talks on the potential combination and have informed their foreign partners about the ongoing discussions.
Delay in CK Hutchison port deal raises concerns over China’s influence in Hong Kong. ( Reuters)
A delay in finalizing CK Hutchison’s planned sale of its Panama port operations to a US group has added to concerns about Beijing’s influence over Hong Kong and the region’s exposure to global tensions.
The agreement was expected to be signed by April 2, based on the March 4 announcement, but sources indicated the signing would be pushed back, noting the date was not a firm deadline. CK Hutchison has not commented on the delay.
CGV considers IPO of theater technology unit CJ 4DPlex. ( Bloomberg)
South Korean cinema chain CGV is exploring an initial public offering of its theater-effects affiliate CJ 4DPlex.
Talks are still in the early stages, and CGV has not yet decided on a timeline or the size of the potential capital raise.
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