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Top Highlights
Ambac Financial Group, an insurance holding company, agreed to acquire ArmadaCare, a supplemental health insurance program manager, from SiriusPoint, a global specialty insurer and reinsurer, for $250m, according to press releases.
SiriusPoint is advised by Jefferies & Company, Paul Hastings and Rein4ce (led by Sarah Hills). Ambac is advised by BMS Capital Advisory, Truist Securities, UBS and Norton Rose Fulbright. Debt financing is provided by Truist Securities, according to press releases.
Eagle Merchant Partners, an Atlanta-based private equity firm, completed the investment in ES Integrated, a provider of industrial cleaning, environmental, and waste services across the Southeastern United States, according to press releases. Financial terms were not disclosed.
ES Integrated is advised by Founders Advisors and Butler Snow. Eagle Merchant Partners is advised by Piper Sandler, King & Spalding and PR South (led by Thornton Kennedy). Debt financing is provided by Goldman Sachs, according to press releases.
Southern Cross Media, one of Australia's major media companies, agreed to merge with Seven West Media, an integrated media company, in a AUD209m ($137m) deal, according to press releases.
Southern Cross Media is advised by UBS. Seven West Media is advised by Barrenjoey Capital Partners (led by Luke Bentvelzen) and Herbert Smith Freehills Kramer, according to press releases.
Deal Round up
AMERICAS
Echostar shares jump on talks to sell spectrum to Verizon. (Bloomberg)
Coty reviews consumer beauty business as it pivots toward fragrances. ( Press Release)
Robo-Adviser Wealthfront files for IPO showing profit drop. ( IPO Filing)
EMEA
APAC
Alibaba mulls buying HK office for $900m. ( Bloomberg)
Zijin Gold soars 68% in HK debut after world's top IPO since May. ( Bloomberg)
India's Canara HSBC Life aims to raise $300m in IPO. ( Bloomberg)
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FINANCIAL ADVISORS
PR ADVISORS
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AMERICAS
Ares Management, an investment firm, agreed to invest in EP Wealth Advisors, a fee-only registered investment advisor, according to press releases. Financial terms were not disclosed.
EP Wealth is advised by Houlihan Lokey, William Blair & Co and Gregory FCA (led by Marissa Foy Comerford). Ares is advised by Jefferies & Company and Moelis & Co, according to press releases.
TIAA-backed Nuveen, an American asset management company, completed the acquisition of a majority stake in Ally Energy Solutions, a provider of turnkey energy management solutions, according to press releases. Financial terms were not disclosed.
Ally Energy Solutions was advised by FMI Capital Advisors and Dentons. Nuveen was advised by Gibson Dunn & Crutcher and Prosek Partners (led by Andrew Chironna), according to press releases.
KKR, a global investment firm, agreed to acquire a 50% stake in a 1.4GW solar portfolio in North America from TotalEnergies, a global integrated energy company, for $625m, according to press releases.
TotalEnergies is advised by JP Morgan, according to MergerLinks data.
Aware Super, an Australian pension fund, completed the acquisition of a 49% stake in US logistics platform from Goodman, an Australian integrated commercial and industrial property group, for $1.3bn.
Manifest Financial, the financial solutions platform built exclusively for creators, completed the acquisition of Nucreator, an AI-powered platform that helps content creators and talent managers proactively discover and secure brand partnerships, according to press releases. Financial terms were not disclosed.
Knox Lane-backed Spectrum Science, a company specializing in integrated marketing communications, completed the acquisition of Return on Focus, a strategic marketing organization focused on evidence-based brand positioning for pharmaceutical and biotechnology companies, according to press releases. Financial terms were not disclosed.
Wysa, a global AI-driven mental health platform, completed the acquisition of Kins, a US-based physical therapy services provider, according to press releases. Financial terms were not disclosed.
Credo Technology Group, a provider of high-speed connectivity solutions, completed the acquisition of Hyperlume, a developer of microLED-based optical interconnect technology, according to press releases. Financial terms were not disclosed.
Echostar shares jump on talks to sell spectrum to Verizon. ( Bloomberg)
EchoStar shares rose after reports that the satellite-TV company is in talks to sell part of its wireless spectrum to Verizon Communications.
The discussions center on EchoStar’s AWS-3 licenses, which are valuable for supporting 5G signals.
Coty reviews consumer beauty business as it pivots toward fragrances. (Press Release)
Coty has launched a strategic review of its consumer beauty business, as it shifts focus toward its more profitable fragrances division. The move follows a difficult US retail backdrop, where tariffs and cautious spending have led retailers to trim inventories and consumers to cut back on some beauty and skincare purchases.
Coty warned last month of a quarterly sales decline, citing weaker demand for its mass beauty lines. The company had previously invested heavily in the US mass beauty segment, but rising competition from cheaper online rivals has pressured performance, prompting a renewed emphasis on fragrances.
Robo-Adviser Wealthfront files for IPO showing profit drop. (IPO Filing)
Wealthfront, a robo-advisory firm, has filed publicly for an initial public offering amid a broader wave of fintech companies pursuing long-awaited market debuts, reflecting renewed investor interest in digital financial services.
The Palo Alto, California-based company reported net income of $60m on revenue of $175m for the six months ended July 31, compared with net income of $132m on revenue of $145m in the same period a year earlier.
EMEA
Buyers Edge Platform, a company specializing in data-driven insights and technology for the foodservice industry, completed the acquisition of Real Result, a Netherlands-based GPO focused on sustainable procurement practices in the foodservice and hospitality sectors, according to press releases. Financial terms were not disclosed.
Buyers Edge Platform was advised by INK inc PR (led by Ryan Gerding), according to press releases.
APAC
Towne Park, a provider of tech-enabled arrival through departure solutions, completed the acquisition of Frogparking, a New Zealand-based provider of cloud-based, AI-driven parking and asset management solutions, according to press releases. Financial terms were not disclosed.
Towne Park was advised by FGS Global (led by Bridget Stephan), according to press releases.
Accenture, a global professional services company, completed the acquisition of Aidemy, a Tokyo-based provider of AI and digital transformation services, according to press releases. Financial terms were not disclosed.
Arm Holdings, a British semiconductor and software design company, led a $250m Series C round in Rebellions, a pioneering AI chipmaker, with participation from Samsung Ventures, Pegatron, Lion X Ventures, Korea Development Bank and Korelya Capital.
Alibaba mulls buying HK office for $900m. ( Bloomberg)
Alibaba Group Holding is in discussions to acquire the upper 13 floors of One Causeway Bay in Hong Kong, in a deal valued at roughly HKD7bn ($900m). The transaction would expand the company’s footprint in the busy commercial district, adding to its existing offices.
Alibaba and its affiliates currently occupy 10 floors at Times Square in Causeway Bay, with the lease set to run until 2028, and the report noted the company is considering the upper floors as part of its longer-term expansion plans in the area.
Zijin Gold soars 68% in HK debut after world's top IPO since May. ( Bloomberg)
Zijin Gold International surged in its Hong Kong trading debut after completing its $3.2bn initial public offering, marking the world’s largest IPO since May and drawing significant attention from global investors.
Shares jumped 68% to close at HKD120.60, lifting the company’s valuation to HKD316.5bn ($41bn) and surpassing Chile-based Antofagasta among the world’s top copper miners. The debut marked the strongest opening day globally for an IPO of this scale since 2021.
India's Canara HSBC Life aims to raise $300m in IPO. ( Bloomberg)
Canara HSBC Life Insurance has kicked off investor roadshows ahead of an initial public offering planned for the first half of October 2025. The insurer, which is owned by Canara Bank, Punjab National Bank, and HSBC’s local insurance unit, is aiming to attract interest from both domestic and international investors.
The company is targeting up to $300 m in the IPO, though deliberations are ongoing and details such as the final size and timing could change, asking not to be identified because the information is private.
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