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AMERICAS

GHK Capital completes the acquisition of Rogers Building Solutions.

GHK Capital, a private equity firm, completed the acquisition of Rogers Building Solutions, a provider of specialty mechanical HVAC, according to press releases. Financial terms were not disclosed.

Rogers Building Solutions was advised by Fifth Third Securities and Neal Gerber & Eisenberg. GHK Capital was advised by Citizens Bank, William Blair & Co and Weil Gotshal and Manges, according to press releases.

Brightstar Capital Partners completes the acquisition of Analyte Health.

Brightstar Capital Partners, a private equity firm, completed the acquisition of Analyte Health, a technology-driven, direct-to-consumer digital health company, according to press releases. Financial terms were not disclosed.

Analyte Health was advised by Intrepid Investment Bankers and Kastner Gravelle. Brightstar Capital Partners was advised by JP Morgan, Kirkland & Ellis and Prosek Partners, according to press releases.

SunCoke Energy completes the acquisition of Phoenix Global for $325m.

SunCoke Energy, a high-quality coke processing and handling company, completed the acquisition of Phoenix Global, a provider of molten slag, metal scraps, raw materials, and finished products handling and transportation services, for $325m, according to press releases.

Phoenix Global was advised by Moelis & Co and Gibson Dunn & Crutcher (led by Quinton C. Farrar). SunCoke Energy was advised by Evercore and Latham & Watkins (led by Jason Morelli and Rachel Ratcliffe), according to press releases and MergerLinks data.

Caleres completes the acquisition of Stuart Weitzman from Tapestry for $105m.

Caleres, a portfolio of consumer-driven footwear brands, completed the acquisition of Stuart Weitzman, a global luxury footwear brand, from Tapestry, a house of iconic accessories and lifestyle brands, for $105m, according to press releases.

Caleres was advised by Bank of America and Bryan Cave Leighton Paisner. Tapestry was advised by Morgan Stanley and Latham & Watkins (led by Leah R. Sauter and Charles Ruck), according to press releases and MergerLinks data.

Amphenol to acquire connectivity and cable solutions business from CommScope for $10.5bn.

Amphenol, a producer of electronic and fiber optic connectors, cable and interconnect systems such as coaxial cables, agreed to acquire connectivity and cable solutions business from CommScope, a network infrastructure provider, for $10.5bn, according to press releases.

Amphenol is advised by JP Morgan, Latham & Watkins and H/Advisors Abernathy (led by Dan Scorpio and Abigail Ruck), according to press releases.

Auction Technology to acquire Chairish for $85m.

Auction Technology, a digital marketplace business, agreed to acquire Chairish, an online marketplace, for $85m, according to press releases.

Auction Technology is advised by Deutsche Numis (led by Nick Westlake), JP Morgan and Teneo (led by Arthur Rogers), according to press releases.

EdgeCo completes the acquisition of Axios Advisory.

EdgeCo, a provider of solutions for financial intermediaries and their clients, completed the acquisition of Axios Advisory, a financial services and products provider, according to press releases. Financial terms were not disclosed.

EdgeCo was advised by Haven Tower Group (led by Brandon Blackwell and Lorene Yue), according to press releases.

ATL and BCI-backed Valence Surface Technologies to acquire CIL Metal Finishing & Electroplating.

ATL and BCI-backed Valence Surface Technologies, an aerospace surface finishing platform, agreed to acquire CIL Metal Finishing & Electroplating, a provider of surface treatment, according to press releases. Financial terms were not disclosed.

Valence Surface Technologies is advised by Gasthalter & Co (led by Nathaniel Garnick), according to press releases.

Corgan to acquire Dyer Brown.

Corgan, an architecture and design firm, agreed to acquire Dyer Brown, an architecture and interior design company, according to press releases. Financial terms were not disclosed.

Corgan is advised by Morrissey Goodale, according to press releases.

Descartes completes the acquisition of Finale Inventory for $55m.

Descartes, a provider of logistics and supply chain management solutions, completed the acquisition of Finale Inventory, an e-commerce inventory management software company, for $55m, according to press releases.

Nonantum Capital-backed Helix Traffic to acquire Highway Safety Services.

Nonantum Capital-backed Helix Traffic, a provider of traffic safety solutions, agreed to acquire Highway Safety Services, a traffic control company, according to press releases. Financial terms were not disclosed.

Foxconn agrees $375m Lordstown plant sale to pivot towards data centres. (Reuters)

Foxconn has agreed to sell its former car factory in Lordstown, Ohio, for $375m, including machinery, while retaining use of the site to manufacture a broader range of products aligned with its strategic priorities.

The company, which produces data center equipment for Nvidia and assembles iPhones for Apple, did not specify which products it plans to manufacture at the facility. However, it highlighted significant growth in its cloud and networking product business.

Schroders writes off stake in US real estate lender A10 Capital. (Bloomberg)

Schroders has written off its stake in US commercial real estate lender A10 Capital, five years after acquiring a 20% interest in the Idaho-based firm.

A10’s other investors include Gemspring Capital, which holds a controlling stake, as well as H.I.G. Capital and BlackRock.

Energy tech firm Lummus confidentially files for US IPO. (Reuters)

Lummus Technology has confidentially filed for a US initial public offering, as it positions itself to benefit from renewed momentum in domestic energy production.

The energy solutions company was acquired in 2020 by a unit of The Chatterjee Group and Rhone Capital from McDermott International in a deal valued at $2.7bn.

While terms of the IPO were not disclosed, the filing comes amid a broader rebound in US listing activity, supported by stronger investor appetite in recent months.

CoinDesk owner Bullish seeks up to $629m in IPO. (Bloomberg)

Bullish, a digital asset exchange operator and owner of CoinDesk, is aiming to raise up to $629.3m through a US initial public offering.

The Cayman Islands-based company plans to offer 20.3m shares at a price range of $28 to $31 each. At the top end of the range, Bullish would command a market value of approximately $4.2bn.

Silversmith secures $1.7bn for fifth buyout fund. (Private Equity Wire)

Silversmith Capital Partners has closed its fifth fund, raising $1.7bn in capital commitments for Silversmith Capital Partners Fund V.

The raise includes $1.6bn from limited partners and $110m from the Silversmith team, bringing the firm’s total capital commitments to more than $5bn over the past decade. Fund V will continue Silversmith’s strategy of backing bootstrapped entrepreneurs in growth-stage technology and healthcare companies, with over 70% of the firm’s capital typically deployed as the first institutional investor.

Kirkland & Ellis served as legal counsel for the fund formation.

KKR and Capital Group to launch hybrid equity fund combining public and private investments. (PE Insights)

KKR and Capital Group are preparing to launch a new hybrid equity fund aimed at giving US investors exposure to both public and private markets, amid growing demand for access to alternative assets.

The fund, Capital Group KKR US Equity+, is expected to debut in early 2026, pending regulatory approval. Structured as an interval fund, the vehicle will allocate around 60% of its assets to listed equities, with the remaining 40% targeting private equity investments sourced by KKR.

EMEA

Nucleus Network to acquire Hammersmith Medicines Research.

Nucleus Network, an early phase clinical research company, agreed to acquire Hammersmith Medicines Research, an early phase clinical trial organisation, according to press releases. Financial terms were not disclosed.

Nucleus Network is advised by Mighty Spark Communications (led by Dani Stoltzfus), according to press releases.

KKR-backed Clinisupplies to acquire renew insert portfolio from Renew Medical.

KKR-backed Clinisupplies, a manufacturer and supplier of medical appliances, agreed to acquire renew insert portfolio from Renew Medical, a manufacturer of continence products, according to press releases. Financial terms were not disclosed.

Clinisupplie is advised by FGS Global (led by Alastair Elwen), according to press releases.

Oakley Capital to acquire a majority stake in Brevo for £22m.

Oakley Capital, a private equity firm, agreed to acquire a majority stake in Brevo, a customer relationship management company, for £22m ($29m), according to press releases.

Investcorp explores sale of Saudi Arabian IT firm NourNet. (Bloomberg)

Investcorp is exploring a potential sale of Saudi-based information technology firm NourNet, amid rising investor interest in digital infrastructure assets in the kingdom.

The alternative asset manager is working with HSBC on the possible transaction. Deliberations are ongoing, and a final decision has not yet been made.

MasOrange, Vodafone Spain and GIC join forces to create Spain’s largest fibre optic company. (Press Release)

MasOrange, Vodafone Spain and GIC have signed an agreement to establish a joint fibre optic network company in Spain, FibreCo, with stakes of approximately 58%, 17% and 25%, respectively.

The new venture will combine around 12m premises and 5m customers from MasOrange and Vodafone Spain into a single fibre network dedicated exclusively to the two operators. Both companies will continue to maintain and operate the respective networks they contribute to FibreCo.

The transaction is subject to regulatory approvals and is expected to close in the fourth quarter.

Regional & City Airports forms strategic partnership with ICG. (Press Release)

Regional & City Airports has entered into a new partnership with global alternative asset manager ICG, following over a decade of collaboration with Rigby Group. The transaction is expected to close later this month.

ICG’s European Infrastructure team will support RCA’s continued expansion across its airport, cargo, and executive aviation operations, while also helping to accelerate sustainable aviation initiatives. RCA, which operates Bournemouth, Exeter, and Norwich Airports as well as XLR Executive Jet Centres, is set to enter a new growth phase with its strategic priorities unchanged.

APAC

Lincoln Electric completes the acquisition of Alloy Steel Australia.

Lincoln Electric, a manufacturer of welding equipment and consumables, completed the acquisition of Alloy Steel Australia, a manufacturer of maintenance and repair solutions, according to press releases. Financial terms were not disclosed.

Mitsubishi to acquire a 20% stake in Thai Union.

Mitsubishi, a global integrated business enterprise, agreed to acquire a 20% stake in Thai Union, a seafood producer, according to press releases. Financial terms were not disclosed.

BlueScope leads consortium for Whyalla options. (Press Release)

BlueScope Steel will lead an international consortium bidding for the Whyalla steelworks in South Australia, exploring the potential to convert the site into a low-carbon steel manufacturing hub.

The consortium includes South Korea’s POSCO, Japan’s Nippon Steel and Indian multinational JSW Steel. A non-binding, indicative expression of interest outlining possible options for the Whyalla assets has been submitted.

China aviation giant mulls spinoff of two financial units. (Bloomberg)

Aviation Industry Corporation of China, the country’s largest state-owned aviation conglomerate, is considering spinning off its securities and trust units to address debt challenges.

AVIC has held discussions with state-owned China Merchants about the potential transaction. The company controls AVIC Trust and AVIC Securities through its subsidiary.

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