A consortium led by Stephan Crétier and HPS completes the acquisition of a majority stake in GardaWorld from BC Partners at a $9.7bn valuation.

Read on...

Scroll down to read deal descriptions. Your suggestions and comments support the democratisation of M&A data. If you'd like to contribute to the future editions, drop us a line.

AMERICAS

Bain Capital completes the acquisition of Frontline Road Safety from Sterling.

Bain Capital, a private equity firm, completed the acquisition of Frontline Road Safety, a construction services company, from The Sterling Group, a private equity firm, according to press releases. Financial terms were not disclosed.

Frontline Road Safety was advised by Guggenheim Partners, Harris Williams & Co and Stanton PRM (led by Charlyn Lusk). Bain Capital was advised by Stifel, UBS and Kirkland & Ellis (led by Chris Thomas). Sterling was advised by Latham & Watkins (led by Bruce C. Herzog and Scott Miller), according to press releases and MergerLinks data.

Crestview Partners completes the acquisition of Smyth from Novacap.

Crestview Partners, a private equity firm, completed the acquisition of Smyth, a full-service provider of pressure sensitive labels, shrink sleeves, in-mold labels, glue-applied labels, and flexible packaging, from Novacap, a private equity firm, according to press releases. Financial terms were not disclosed.

Crestview was advised by Evercore, Gibson Dunn & Crutcher and Kekst CNC (led by Jeffrey Z. Taufield). Novacap was advised by Robert W Baird, Blake Cassels & Graydon and Fox Rothschild, according to press releases.

RealTruck completes the acquisition of Vehicle Accessories Group.

RealTruck, a global aftermarket product and accessory brand, completed the acquisition of Vehicle Accessories Group, a manufacturer of automotive dealer installed accessories to OEM manufacturers, according to press releases. Financial terms were not disclosed.

RealTruck was advised by William Blair & Co and Latham & Watkins (led by Alexandra Croswell Kelly). Debt financing was provided by Jefferies & Company and RBC Capital Markets, according to press releases and MergerLinks data.

Pacific General completes the acquisition of a majority stake in Lenwich.

Pacific General, a private investment firm, completed the acquisition of a majority stake in Lenwich, a premium sandwich brand, according to press releases. Financial terms were not disclosed.

Lenwich was advised by Pryor Cashman (led by Ronald B. Kremnitzer). Pacific General was advised by RSM International and Cravath Swaine & Moore (led by Jihyun Chung), according to press releases and MergerLinks data.

Huron completes the acquisition of Advancement Resources.

Huron, a global professional services firm, completed the acquisition of Advancement Resources, a research-based professional education company, according to press releases. Financial terms were not disclosed.

Huron was advised by Skadden Arps Slate Meagher & Flom (led by Shilpi Gupta), according to MergerLinks data.

Huron to acquire Halpin Partnership.

Huron, a global professional services firm, agreed to acquire Halpin Partnership, a management consultancy specializing in higher education fundraising, governance, and strategy, according to press releases. Financial terms were not disclosed.

Huron was advised by Skadden Arps Slate Meagher & Flom (led by Shilpi Gupta), according to MergerLinks data.

onsemi to acquire Allegro MicroSystems for $6.9bn.

onsemi, an American semiconductor supplier, offered to acquire Allegro MicroSystems, a global designer, developer, and fabless manufacturer of sensor ICs, for $6.9bn, according to press releases.

Khazanah Nasional Berhad led a $111m Series E round in Turing.

Khazanah Nasional Berhad, a Malaysian sovereign wealth fund, led a $111m Series E round in Turing, an AGI infrastructure company, with participation from WestBridge Capital, Sozo Ventures, UpHonest Capital, AltaIR Capital, Amino Capital, Plug and Play, MVP Ventures, Fortius Ventures, Gaingels, and Mastodon Capital Management, according to press releases.

Silver Lake and hedge funds are competing over the bid for Endeavor. (Bloomberg)

Silver Lake and hedge funds are at odds over the private equity firm's bid to acquire Endeavor Group, the company behind WWE and UFC. The conflict could ultimately be settled in court.

Silver Lake, which has a long-standing relationship with Endeavor, reached an agreement in April to buy out the company’s minority investors at $27.5 per share. The firm already holds a 71% voting stake in Endeavor, led by superagent Ari Emanuel.

Republican officials rethink BlackRock bans after Panama port deal. (Reuters)

BlackRock often a target of criticism from MAGA Republicans, may have gained some conservative credibility with its recent acquisition of two crucial ports on either side of the Panama Canal.

The $22.8bn deal with Hong Kong-based CK Hutchison, which includes these ports, was praised by US President Donald Trump. This move provides BlackRock and its CEO Larry Fink with political capital to regain favor with Republicans.

New Jersey City University to merge with Kean University to avoid closure. (Bloomberg)

New Jersey City University, facing severe financial challenges, is set to merge with Kean University to avoid closure. The decision follows years of budget deficits that have left the university struggling to remain operational.

NJCU, a public university located in Jersey City across the Hudson River from New York City, has been grappling with a deteriorating fiscal situation. The merger with the larger state institution is seen as a necessary step to secure its future and stabilize higher education options in the region.

EMEA

EU regulators to decide on $15.4bn DSV, Schenker deal. (Reuters)

EU antitrust regulators will rule on Danish logistics company DSV’s €14.3bn ($15.43bn) acquisition of German rival Schenker by April 8.

DSV announced the acquisition of Schenker, the logistics arm of German state rail operator Deutsche Bahn, in September last year. The deal is set to create the world's largest logistics company.

DSV Panalpina is advised by BNP Paribas, Goldman Sachs (led by Tibor Kossa), HSBC (led by Steffen Wurm), KPMG, PwC, Freshfields Bruckhaus Deringer (led by Heiner Braun and Friedrich von der Heydt-von Kalckreuth), Moalem Weitemeyer Bendtsen (led by Jakob Skafte-Pedersen) and Brunswick Group. Deutsche Bahn is advised by Morgan Stanley (led by Jens Maurer), Cravath Swaine & Moore (led by Aaron Gruber), Hengeler Mueller (led by Georg A. Frowein and Hans-Jorg Ziegenhain) and Khaitan & Co (led by Rabindra Jhunjhunwala), according to press releases and MergerLinks data.

One Rock-backed Constantia completes the acquisition of a 57% stake in Aluflexpack from Montana and Xoris for $204m.

One Rock Capital-backed Constantia Flexibles, a producer of flexible packaging, completed the acquisition of a 57% stake in Aluflexpack, a packaging producer, from Montana Tech Components, an industrial group, and Xoris, an investment holding company, for $204m, according to press releases.

Aluflexpack was advised by IFBC. One Rock was advised by Prosek Partners. Constantia was advised by Jefferies & Company, Bar & Karrer (led by Mariel Hoch), Latham & Watkins and Wolf Theiss (led by Zeno Grabmayr). Montana was advised by MP Corporate Finance, Freshfields Bruckhaus Deringer (led by Frank Rohling) and Walder Wyss (led by Urs Gnos), according to press releases and MergerLinks data.

AlTi Global to acquire Kontora.

AlTi Global, a global wealth and alternatives manager, agreed to acquire Kontora, a multi-family office and asset management company, according to press releases. Financial terms were not disclosed.

Kontora is advised by Herax and PXR Legal. AlTi is advised by Ernst & Young, Milbank and Prosek Partners (led by Georgia Brown and Emily Roy), according to press releases.

Slate completes the acquisition of 45 grocery properties for €420m.

Slate, a global alternative investment platform targeting real assets, completed the acquisition of 45 grocery properties located in Germany for €420m ($450m), according to press releases.

Slate was advised by Goodwin Procter, KPMG, Gleeds and REDEFINE Group, according to press releases.

Miner Kenmare rebuffs takeover attempt by former executive. (Bloomberg)

Kenmare Resources shares jumped as much as 52% after the titanium minerals producer rejected a takeover offer from a consortium led by Oryx Global Partners and former managing director Michael Carvill.

The Dublin-based miner’s board unanimously dismissed the non-binding proposal of £5.30 ($6.8) per share, stating that it undervalued the company and its future prospects.

Kenmare Resources is advised by Davy Corporate Finance (led by Ivan Murphy), Peel Hunt (led by Ross Allister) and Rothschild & Co (led by Ravi Gupta), according to press releases.

SELP completes the acquisition of six assets from Tritax EuroBox for €470m.

SEGRO European Logistics Partnership, a 50:50 joint venture between SEGRO and PSP Investments, completed the acquisition of a portfolio that totals 370k sq m of fully-leased, highly reversionary, modern logistics space, from Tritax EuroBox, a property investment company, for €470m ($488m), according to press releases.

SELP was advised by FTI Consulting (led by Richard Sunderland), according to press releases.

Mehiläinen completes the acquisition of InMedica from INVL Baltic Sea Growth Fund.

Mehiläinen, a medical and health services provider, completed the acquisition of InMedica, a healthcare network, from INVL Baltic Sea Growth Fund, a buyout fund, according to press releases. Financial terms were not disclosed.

InMedica was advised by Jefferies & Company, according to MergerLinks data.

DNB to acquire a 15% stake in Eksportfinans for $69m. (Reuters)

DNB, a Norwegian financial services group offering banking, financing and investment services, agreed to acquire a 15% stake in Eksportfinans, a company offering long-term financing for the Norwegian export sector, for $69m, according to Reuters.

Fraud prevention software firm Riskified explores sale. (Reuters)

Riskified, a provider of e-commerce fraud prevention software, is exploring strategic options, including a potential sale, after receiving takeover interest.

The New York-based company, which has roots in Israel, is working with investment bank Qatalyst Partners to assess approaches from interested buyers. Discussions are ongoing, and no final decision has been made.

Air France-KLM ready to meet Portuguese government's conditions for TAP privatisation. (Reuters)

Air France-KLM has held positive discussions with the Portuguese government regarding its potential participation in the privatization of flag carrier TAP, CEO Ben Smith said on March 6.

Air France-KLM would move forward with the plan if the timing and conditions align, adding that the group would be committed to preserving TAP’s brand, network, and local jobs. Air France-KLM, Lufthansa, and British Airways owner IAG have all expressed interest in the privatization, which the Portuguese government aims to complete this year.

Irish hotel operator Dalata shares surge on potential sale plans. (Press Release)

Dalata Hotel Group saw its biggest stock surge since 2020 after announcing a strategic review that could lead to a potential sale of the business.

The Dublin-based company has appointed Rothschild & Co as a financial adviser but stated that it has not yet received any approaches or entered discussions with potential buyers.

Pepco Group receives interest from potential Poundland buyers. (Reuters)

Pepco Group has received interest from potential buyers for its struggling 825-store Poundland business in Britain.

CEO Stephan Borchert stated that there are interested parties as the company evaluates strategic options to separate Poundland from the Warsaw-listed group, including a possible sale.

Microsoft to invest about $300m more in AI infrastructure in South Africa. (Reuters)

Microsoft will invest an additional ZAR5.4bn ($296.8m) in artificial intelligence infrastructure in South Africa, Vice Chair and President Brad Smith announced on March 6.

Microsoft will cover the cost of technical certification exams for 50k individuals in high-demand digital skills. In January, Microsoft revealed plans to invest around $80bn in fiscal 2025 to develop data centers for AI model training and the deployment of AI and cloud-based applications.

Klarna to file for $1bn-plus IPO as soon as next week. (Bloomberg)

Klarna is planning to raise at least $1bn through a US initial public offering and is set to file publicly as soon as next week.

The payments company aims to price the IPO in early April and is targeting a valuation of over $15bn for its listing on the New York Stock Exchange.

Novo Banco may do its IPO in the second quarter at the earliest. (Bloomberg)

Novo Banco, the Portuguese lender majority-owned by Lone Star, said its planned initial public offering could take place in the second or third quarter of this year.

CEO Mark Bourke stated that if the capital structure is optimized in time, the IPO could happen in the second quarter. If the process takes longer, the listing may be pushed to the third quarter, following the summer.

APAC

Partners Group to invest AUD1.2bn in GreenSquareDC.

Partners Group, a Swiss-based global private equity firm, agreed to invest AUD1.2bn ($755m) in GreenSquareDC, an Australian company providing sustainable, affordable, and scalable AI Data Centre solutions, according to press releases.

GreenSquareDC is advised by Berkeley Advisory, RBC Capital Markets and Norton Rose Fulbright. Partners Group is advised by Alvarez & Marsal and Clifford Chance, according to press releases.

A.P. Moller Capital to acquire a 40% stake in AC Logistics from Ayala.

A.P. Moller Capital, an infrastructure fund manager, agreed to acquire a 40% stake in AC Logistics, a logistics company offering supply chain, freight forwarding and contract logistics solutions, from Ayala, a Philippine conglomerate, according to press releases. Financial terms were not disclosed.

Blackstone taps Citigroup to raise $200m for India deal. (Bloomberg)

Blackstone, one of India’s largest landlords, is working with Citigroup to raise at least $200m to finance its acquisition of South City Mall in Kolkata.

The fundraising effort is part of Blackstone’s strategy to expand its retail property portfolio in India. Discussions are ongoing, and details may still evolve.

Top Asian gummy candy maker seeks to raise up to $131m. (Bloomberg)

Yupi, one of Asia’s top gummy candy makers, plans to raise up to INR2.14tn ($131m) through a share sale, making it one of Indonesia’s largest IPOs this year.

The company aims to offer up to 854m shares at a price range of INR2.1k ($24) to INR2.5k ($29) each. Proceeds from the offering will be used to construct a new plant and support working capital.

Japan’s Seven & i appoints Stephen Dacus as its first foreign CEO. (DealStreetAsia)

Seven & i, a Japanese operator of 7-Eleven, has announced a CEO change and plans for a business restructuring amid a $47bn foreign takeover bid.

Lead outside director Stephen Dacus will replace Ryuichi Isaka as chief executive on May 27, marking the first time a foreign executive will lead the company.

China plans ‘aircraft carrier-sized’ govt guidance fund to pool $137.9bn into AI, quantum tech. (DealStreetAsia)

China is establishing a large-scale national government guidance fund aimed at pooling nearly CNY1tn ($137.9bn) in long-term private and public capital to invest in advanced technologies, including AI and quantum computing.

The fund is designed to attract regional and private investment to support early-stage, small-scale hard tech developers with a long-term perspective.

Daily Review

Connect the World of Dealmakers