Agnico Eagle, a gold miner, completed the merger with Kirkland Lake Gold, a Canada-based gold mining, development, and exploration company, in a $24bn deal. Agnico Eagle and Kirkland Lake Gold shareholders own approximately 54% and 46% of the combined company, respectively.
"The transaction creates a company with a strong platform of people, assets and financial resources to continue to build and operate a long term sustainable and self-funding business. Kirkland Lake is an excellent cultural fit with Agnico Eagle, and we look forward to working together to further grow our business through exploration, mine development and optimization of our high-quality asset base. Over time, we believe that the gold industry will continue to evolve and consolidate and with this transaction we are well-positioned to take advantage of high-quality opportunities and be a true Canadian mining champion," Sean Boyd, Agnico Eagle CEO.
Kirkland Lake Gold was advised by BMO Capital Markets, CIBC World Markets, Maxit Capital, Cassels Brock & Blackwell and Fasken. Agnico Eagle was advised by Bank of America, TD Securities, Trinity Advisors Corporation and Davies Ward Phillips & Vineberg. Financial advisors were advised by Shearman & Sterling.
Carlyle-backed Syniverse, a provider of mission-critical mobile platforms for carriers and enterprises, terminated the agreement to go public via a merger with M3-Brigade Acquisition II, a SPAC, in a $2.85bn deal.
"We are disappointed that recent changes in market conditions made it impossible to consummate our proposed merger, but Syniverse is a great company with a strong management team and we are confident that it has a very bright future," Mohsin Y. Meghji, MBAC CEO.
Republic Services, an American waste disposal company, agreed to acquire US Ecology, a provider of environmental solutions offering treatment, recycling and disposal of hazardous, non-hazardous and specialty waste, for $2.2bn.
"We are pleased to have reached this agreement with Republic Services, an established leader in the industry, recognized for its commitment to safety, sustainability and superior customer service," Jeff Feeler, US Ecology Chairman, CEO and President.
US Ecology is advised by Barclays, Houlihan Lokey and Dechert. Barclays is advised by Sullivan & Cromwell. Republic Services is advised by Moelis & Co and Davis Polk & Wardwell.
Equitable Bank, a Canadian bank which primarily provides residential and commercial real estate lending services, agreed to acquire Concentra, a provider of lending and investment solutions, for $371m.
"We are delighted to join Equitable in its Challenger Bank quest. This powerful combination of capabilities and services is right for our employees, customers and community partners and creates opportunity for our team to excel as part of an award-winning Canadian bank that shares our commitment to innovation," Don Coulter, Concentra President and CEO.
Concentra is advised by Morrison Park Advisors, National Bank Financial and Torys. Equitable Bank is advised by RBC Capital Markets, TD Securities and Bennett Jones.
Onex, an investment manager founded in 1984, agreed to invest in Analytic Partners, a cloud-based, managed software platform. Financial terms were not disclosed.
"We feel incredibly privileged that Nancy has chosen us as her partner to continue building Analytic Partners. The company's GPS Enterprise managed software solution, supported by its proprietary ROI Genome dataset and analytical capabilities, have allowed Analytic Partners to provide a compelling value proposition to its customers and we expect this to continue. We are extremely enthusiastic about the company's prospects as the need to accurately assess the effectiveness of marketing campaigns will continue to grow which, combined with the opportunity to further leverage Analytic Partners' capabilities across a wider range of end markets and geographies, presents a compelling value creation opportunity over the coming years," Kosty Gilis, Onex Managing Director.
Analytic Partners is advised by Goldman Sachs, Willkie Farr & Gallagher and Wit Strategy. Onex is advised by Latham & Watkins.
Insight Partners-backed CM Group, a portfolio of martech companies focused on multichannel digital marketing, completed the merger with Vector Capital-backed Cheetah Digital, a family of global marketing technology brands. Financial terms were not disclosed.
"Our merger with Cheetah Digital means CM Group will be well positioned to meet the needs of customers of all sizes and shapes, and we will continue to be their marketing technology partner as they grow by delivering the right technology at the right time, tailored to their industry and built for the scale at which they operate. By keeping each CM Group product distinct and focused on specific verticals or market segments, we deliver superior solutions, expertise, and outcomes for customers when compared to the large volume of generalist solutions in the market today," Wellford Dillard, CM Group CEO.
CM Group was advised by Jefferies & Company, Willkie Farr & Gallagher and Riley Strategic. Cheetah Digital was advised by Paul Hastings.
Aeromexico, the flag carrier airline of Mexico, agreed to acquire the remaining 49% stake in the PLM loyalty program from Aimia, an investment holding company with a focus on long-term investments in public and private companies, for $405m.
"We want to thank our joint venture partner, Aeromexico, for their collaboration in achieving the best outcome for all stakeholders. Aeromexico has been a valued and trusted partner since 2010, and we applaud them, and the PLM leadership team for continuing to successfully navigate an unprecedented period in the travel industry. We wish Aeromexico continued success as they emerge from the bankruptcy process as a significantly strengthened airline, supported by its loyalty program," Phil Mittleman, Aimia CEO.
Betterment, the largest independent digital investment advisor in the US, agreed to acquire Makara, an innovative manager of cryptocurrency portfolios. Financial terms were not disclosed.
The acquisition will provide consumers and financial advisors the ability to invest in expert-built, diversified crypto portfolios alongside their existing investments, through an easy-to-use customer experience they have come to expect from Betterment.
Capstreet-backed Credit Bureau Connection, a provider of credit report and compliance solutions, completed the acquisition of Dealer Safeguard Solutions, a SaaS provider of compliance and workflow solutions for the automotive retail industry. Financial terms were not disclosed.
"I have known Doug and DSGSS for many years, and have seen the immediate value the platform delivers to their impressive client list, and I am confident our two companies are a natural fit. While both CBC and DSGSS have experienced consistent growth, there are still significant organic growth opportunities in the auto and adjacent industries that we can better capture by working together. We welcome Doug and the entire DSGSS team, and we are excited to work together," Mike Green, CBC Founder and CEO.
Credit Bureau Connection was advised by Lambert & Co.
US Orthopaedic Partners, the network for private orthopaedic practices in the Southeastern United States, completed the acquisition of Southern Orthopaedic Surgeons, a provider of orthopaedic care. Financial terms were not disclosed.
"On behalf of all the physician partners at Southern Orthopaedic Surgeons, we are excited to partner with the USOP management team and join the high-quality physicians that USOP's platform has already assembled to date," Roland Hester, Southern Orthopaedic Surgeons Managing Member.
US Orthopaedic Partners was advised by Ink Link Marketing.
Lightspeed Venture Partners, a venture capital firm, led a $101m Series A financing round in Seismic Therapeutic, a biotechnology company advancing machine learning for immunology drug development, with participation from Polaris Partners, Boxer Capital and Samsara Biocapital.
“We are leading the next generation of immunology drug development with Seismic’s platform. By integrating machine learning throughout the biologics drug discovery process, we are powered by a systematic and programmable approach to design superior biologics from initial discovery and therapeutic design through to manufacturability,” Jo Viney, Seismic Therapeutic Founder, President and CEO.
Seismic Therapeutic was advised by The Yates Network.
Moonbug Entertainment, a producer of “Cocomelon,” the most popular kids’ show on Netflix, completed the acquisition of Little Angel, a network of kids-focused YouTube channels. Financial terms were not disclosed.
“We are putting it into our machine. We’ll create more content, we’ll internationalize it and we’ll start distributing it on global platforms," Rene Rechtman, Moonbug CEO.
Undisclosed purchaser to acquire Rare Pediatric Disease Priority Review Voucher of BioMarin Pharmaceutical for $110m.
An undisclosed purchaser agreed to acquire Rare Pediatric Disease Priority Review Voucher of BioMarin Pharmaceutical, a global pharmaceutical company, for $110m.
"We are pleased to announce the sale of the PRV and plan to direct the proceeds from this voucher sale towards additional investment in an already robust pipeline of investigational therapies for people with genetic diseases," Jean-Jacques Bienaimé, BioMarin Pharmaceutical CEO.
BioMarin Pharmaceutical is advised by Jefferies & Company.
New York pension fund plans to sell half of its shale companies. (FS)
New York's state pension fund will sell $238m worth of stock and debt it holds across 21 shale oil and gas companies including Chesapeake Energy, Hess and Pioneer Natural Resources, saying they have not shown they are ready to move to a low-emissions economy, Reuters reported.
The fund will keep another 21 shale companies including CNX Resources and EQT.
Microsoft might acquire Mandiant.
Microsoft is considering a deal to buy cybersecurity firm Mandiant, Reuters reported. The talks may not result in an offer.
A deal to buy Mandiant would help Microsoft beef up its products that protect its clients from cybersecurity threats. The software giant bought two smaller cybersecurity companies in 2021 and would spend $20bn on cybersecurity over the next five years.
Byron Allen is going to bid for Denver Broncos.
Media mogul Byron Allen is preparing a bid for the Denver Broncos, a move that if successful would make him the first Black majority owner of a National Football League team, Bloomberg reported.
“NFL commissioner Roger Goodell and New England Patriots owner Robert Kraft came to me in November of 2019 and asked me to take a good look at buying an NFL team,” Byron Allen, Allen Media Group Chairman and CEO.
OceanSound Partners closes new fund at $780m. (FS)
OceanSound Partners, a New York-based private equity firm that pursues control investments in technology and technology-enabled services companies, closed its debut fund on $780m, surpassing a target of $550m.
The vehicle will support the firm's strategy of investing in middle-market tech and tech-enabled services companies that serve the government and enterprise end markets. OceanSound typically makes investments of $75m to $300m.
Walker & Dunlop, a provider of financing services to owners of commercial real estate, agreed to acquire GeoPhy, a commercial real estate technology company, for $290m.
"This acquisition is a game-changing investment for Walker & Dunlop, as it dramatically accelerates the growth of our technology capabilities in two areas of the market where we have the ability to disrupt the commercial real estate services industry. As our current JV partner in Apprise, we are well acquainted with the GeoPhy team and their capabilities. Actionable technology — that makes our bankers and brokers more insightful and capable — is what has differentiated Walker & Dunlop, and the acquisition of GeoPhy immediately enhances our capabilities," Willy Walker, Walker & Dunlop Chairman and CEO.
GeoPhy is advised by Houlihan Lokey, Biesheuvel Jansen Advocaten and Wilson Sonsini Goodrich & Rosati. Walker & Dunlop is advised by JP Morgan, Arnold & Porter Kaye Scholer and Stibbe.
Komplett, a Norwegian e-commerce company, agreed to acquire NetOnNet, a consumer products retailer, for $431m.
"We are very pleased to announcethe combination of Komplett and NetOnNet, two attractively positioned companies with complementary strengths. As a combined unit, the companies will become even better positioned to leverage their strong consumer brands and proven scalable business models to continue delivering attractive profitable growth. In addition, increased scale will contribute towards material value creation among other through realising significant cost synergies that are mainly related to sourcing improvements," Nils K. Selte, Komplett Chairman.
NetOnNet is advised by Carnegie Investment Bank, BAHR and Gernandt & Danielsson. Komplett is advised by SEB Corporate Finance, Setterwalls Advokatbyra, Thommessen and First House.
Inflexion, a mid-market private equity firm, agreed to acquire enviolo, a provider of e-bike components. Financial terms were not disclosed.
"The enviolo team has created an innovative product offering which makes cycling more appealing and comfortable to the growing number of cyclists turning to it as a social, healthy activity and an environmentally friendly method of transportation in cities around the world. The team is incredibly driven and we look forward to working with them to grow their excellent business further both in the local Dutch market and internationally," Simon Turner, Inflexion Managing Partner.
Enviolo is advised by Lazard and Ropes & Gray. Inflexion is advised by Stepstone, Latham & Watkins and NautaDutilh.
Oriola-backed Kronans Apotek, a Swedish pharmacy company, agreed to merge with Euroapotheca-backed Apoteksgruppen, a pharmacy chain, in an $800m deal.
"We are delighted to publish the planned merger of Oriola's Kronans Apotek and Euroapotheca's Apoteksgruppen, creating significant synergy opportunities in the pharmacy business. The contemplated transaction is a logical step in Oriola's transformation and consequently Oriola will focus on its societal role as an infrastructure company of pharmaceuticals distribution and providing services to pharmaceutical companies and pharmacies. With this common venture, during the next 2-3 years the new company will concentrate in capturing the synergies," Panu Routila, Oriola Chairman of the Board.
Oriola is advised by Nordea Bank, Hannes Snellman, Railo Partners and Hill+Knowlton Strategies.
Apax Partners, a private equity firm, agreed to acquire Odin Groep, an information technology company, from Fortino Capital, a Benelux-based B2B software and IT investor. Financial terms were not disclosed.
"We are pleased to become the next shareholder of Odin Groep alongside its experienced management team. The Group is uniquely positioned among the market leaders in the Netherlands and has a proven track record of organic and inorganic growth. We will be able to mobilize financial and human resources to support their future growth and cement their leadership position in the market, notably via M&A," Damien de Bettignies, Apax Partner.
Komax, a globally active technology group, agreed to acquire the wire processing business unit of Metall Zug, a Swiss industrial holding company. Financial terms were not disclosed.
The transaction will be carried out through a 'quasi-merger' in which Komax Holding will issue new shares in the course of a capital increase and allocate these to Metall Zug in exchange for the shares of wire processing business unit.
The Board of John Menzies has rejected the $636m offer from Agility Public Warehousing after reviewing it with its financial advisers, having concluded that the proposal is entirely opportunistic, conditional and that the terms fundamentally undervalue Menzies and its future prospects
"The proposal is highly opportunistic and comes at a time when the full impact of management actions is not yet reflected in Menzies valuation and underlying volumes have yet to return to pre-pandemic levels," Philipp Joenig, Chairman and CEO John Menzies.
John Menzies is advised by Goldman Sachs and FTI Consulting.
Morgan Stanley Capital Partners-backed Comar, a premier supplier of custom medical devices and assemblies and specialty packaging solutions, completed the acquisition of Automatic Plastics, a contract manufacturer of injection molded products primarily for the medical device and pharmaceutical sectors. Financial terms were not disclosed.
"We have proudly served our customers for the last five decades and cannot wait to provide more for them in the future as a part of Comar. From the beginning we have trusted in Comar, their capabilities, and most importantly, their culture. They know how to partner with companies, mentor teams, and empower them to drive growth. We truly believe Comar will bring the focus and resources necessary to elevate APL to the next level of performance," Al Lawless, APL Managing Director.
Main Capital Partners, a strategic private equity firm, completed the investment in biomedion, a GxP data cloud platform provider. Financial terms were not disclosed.
"The number and complexity of regulations will only increase in the coming years and many companies are not yet equipped for this rapidly increasing scrutiny. biomedion offers an immediate solution to address and solve these requirements," Dirk Aulike, biomedion CEO.
Warburg Pincus, a private equity firm, led a $150m Series D financing round in Scandit, a Swiss barcode scanning firm, with participation from Atomico, Forestay Capital, G2VP, GV, Kreos, NGP Capital, Schneider Electric, Sony Innovation Fund and Swisscom Ventures.
"We see a huge amount of long-term potential as the market for smart data capture is in its infancy and Scandit is the market leader," Flavio Porciani, Warburg Pincus Managing Director.
Greenoaks Capital led a €100m ($115m) Series B round in Vivid Money, the Berlin-based financial platform, with participation from Ribbit Capital and SoftBank Vision Fund 2.
The funds will be used to extend Vivid's investment and banking offerings, focusing on turning Vivid's ecosystem into a community where customers come to bank, save, invest, learn, and manage all money-related matters. The fundraising will enable a hiring push across the company's European offices to improve the product, enhance marketing, and build out the application's educational features.
Russia's MTS and Korea's KT to partner on data centres.
MTS, Russia's largest mobile operator, signed a deal with South Korea's KT to develop data centres, AI-based solutions and media content projects, Reuters reported.
MTS is one of several Russian companies developing services beyond its core business, including MTS Bank, e-commerce and streaming service KION. In December it signed a deal to acquire biometrics company VisionLabs.
Siemens Energy believes business will not recover soon.
Siemens Gamesa, a maker of offshore wind turbines, is suffering from supply chain issues that have hit several industries as well as problems with its new 5X onshore turbine, prompting three profit warnings in nine months, Reuters reported.
"In the current market environment the solution to the problem cannot be achieved in a few months," Christian Bruch Siemens Energy CEO.
OLB is in talks to hire banks for IPO. (FS)
Private equity Apollo-backed German lender Oldenburgische Landesbank in talks with investment banks about an initial public offering that could take place as soon as this year, Bloomberg reported.
The primary goal of the board and the owners is an IPO, subject to market environment, Stefan Barth, OLB Chief Executive Officer, said. OLB will hire investment banks by the end of March.
SoftBank plans IPO for its chip designing business.
Masayoshi Son said Arm is entering a “golden period” of high demand for the chips it helps create in smartphones, electric vehicles and computer-server farms operated by the likes of Amazon.com.
AD Ports Group raised $1bn before public debut. (FS)
Abu Dhabi’s AD Ports Group, owned by sovereign wealth fund ADQ, raised $1.1bn in proceeds from its primary issuance and would list its shares on the bourse, DealStreetAsia reported.
AD Ports Group, which operates ports, logistics and industrial zones, claims the funds raised would be used to grow organically and via acquisitions, as the company plans to expand both locally and internationally.
Shares in Volkswagen and its top investor rise on Porsche listing hopes.
Hopes for more clarity around a possible listing of Volkswagen's luxury Porsche division lifted shares in Europe's largest carmaker, Reuters reported.
Volkswagen shares rose as much as 7.2% while those in Porsche, which holds a 31.4% stake in the carmaker, were up as much as 8.3%, taking the top two spots in Germany's benchmark blue-chip DAX index.
Mizuho Bank, a Japanese bank, led a $131m Series B financing round in Tonik Financial, the parent company of the Philippiness' first neobank Tonik.
"The partnership with Mizuho will provide Tonik with enhanced access to the international wholesale funding markets and world-class managerial talent, as well as serve as a fantastic platform for our future international expansion," Greg Krasnov, Tonik CEO and Founder.
Blackstone, an American multinational private equity, TPG, a private equity investment firm, and ChrysCapital, an India focused investment firm, led a $300m Series F funding round in Xpressbees, a Pune-based logistics startup.
"Xpressbees is playing an important role in India's booming e-commerce sector, which is still at an early stage and has a long runway of development. We look forward to leveraging Blackstone's deep expertise and global network in logistics and e-commerce to accelerate Xpressbees's growth," Mukesh Mehta, Blackstone Senior Managing Director.
SoftBank Group, a Japanese multinational conglomerate holding company, Prosus Ventures, a venture investing arm of Prosus, and Goldman Sachs, a global investment banking, securities and investment management firm, led a $300m funding round in ElasticRun, an India and Southeast Asia-focused e-commerce logistics startup.
With this, the Pune-based startup hase become the sixth company to enter to the unicorn club this club.
Foxconn will start to invest in the Indonesia EV sector.
Taiwan-based Foxconn will launch an $8bn investment in Indonesia in the third quarter of this year to manufacture electric vehicles and batteries, Reuters reported.
The iPhone assembler will build a factory on 200 hectares of an industrial zone in Batang in Central Java to make battery cells, cathode precursor and telecommunication spare parts in addition to the vehicles, Investment Minister Bahlil Lahadalia told a forum.
SoftBank says stake sale is not connected to Alibaba's US filing.
Japan's SoftBank Group said there was no link between Alibaba registering a US share facility and any specific plans to sell down its stake in the Chinese e-commerce giant, Reuters reported.
"The registration of the ADR conversion facility, including its size, is not tied to any specific future transaction by SBG," SoftBank.
KKR, Bain and Baring are bidding for Hitachi Transport System. (FS)
Buyout firms including KKR , Bain Capital and Baring Private Equity Asia are among shortlisted bidders for Hitachi’s minority stake in its transportation unit, Bloomberg reported.
Others that have made it to the next stage of bidding include Blackstone. The Japanese industrial conglomerate has been working with a financial adviser to field interest for its 40% stake in Hitachi Transport System.
KKR plans to fund Animoca Brands. (FS)
KKR is set to become the latest Wall Street name to back metaverse company Animoca Brands, taking the Hong Kong startup’s latest funding round to about $500m, Bloomberg reported.
The buyout giant is among several investors in talks to join Animoca’s most recent financing at a pre-money valuation of more than $5bn. That adds to the $359m first tranche of the funding round, announced in January and involving investors including George Soros and the Winklevoss twins.
GBA Fund targets to raise $257m for new fund.(FS)
AEF Greater Bay Area Fund, backed by Alibaba Entrepreneurs Fund, aims to make the final close by mid-2022 with as much as $257m, DealStreetAsia reported.
The fund raised $50m currently, while the total commitment it has received stands at over $150m.
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