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Top Highlights
Apollo-backed New Home, a diversified asset-light homebuilder, agreed to acquire Landsea Homes, a residential homebuilder, for $1.2bn, according to press releases.
Landsea Homes is advised by Moelis & Co, Latham & Watkins (led by Charles Ruck, Michael Treska and Darren J. Guttenberg), Cornerstone Communications (led by Annie Noebel) and Mackintosh Investor Relations (led by Drew Mackintosh). New Home is advised by JP Morgan, RBC Capital Markets, Vestra Advisors, Wells Fargo Securities, Paul Weiss Rifkind Wharton & Garrison and Joele Frank (led by Tim Ragones), according to press releases and MergerLinks data.
Robinhood, an American financial services company, agreed to acquire WonderFi, a provider of digital asset products and services, for CAD250m ($179m), according to press releases.
WonderFi is advised by Canaccord Genuity, Financial Technology Partners, Origin Merchant Partners, PowerOne Capital Markets, Cassels Brock & Blackwell, Goodmans, Mintz Levin and Gagnier Communications (led by Riyaz Lalani). Robinhood is advised by JP Morgan and Davies Ward Phillips & Vineberg, according to press releases and MergerLinks data.
TSG Consumer Partners, an American private equity company, agreed to acquire EoS Fitness, a low-price premium fitness amenities operator, according to press releases. Financial terms were not disclosed.
EoS Fitness is advised by Piper Sandler, Robert W Baird, Milbank and Nuffer Smith Tucker (led by Melissa Rue). TSG Consumer is advised by Ropes & Gray (led by Sandy Boer) and Prosek Partners, according to press releases and MergerLinks data.
Deal Round up
AMERICAS
Blackstone in talks to acquire Texas and New Mexico utility TXNM Energy. ( Reuters)
Telefonica taps Citi to manage sale of Chile unit. ( Bloomberg)
LA Chargers in talks to sell stake to private equity firm Arctos. ( Bloomberg)
Hinge Health and investors target $437m in US IPO. ( Bloomberg)
Figma taps Morgan Stanley to lead IPO, with Goldman also on board. ( Bloomberg)
Northleaf closes infrastructure fund at $2.6bn hard cap. ( Press Release)
Denali Growth Partners raises $400m for second growth equity fund. ( Press Release)
EMEA
ABB considers $3.5bn sale of robotics unit as spinoff alternative. ( Bloomberg)
Samsung nears $1.5bn-plus acquisition of Germany’s FläktGroup. ( Bloomberg)
Iceland begins sale of Islandsbanki stake to reduce post-crisis holdings. ( Reuters)
German court rejects KNDS bid to block Triton from selling Renk shares. (Reuters)
Actis raises $1.7bn for second long-life infrastructure fund. ( Bloomberg)
APAC
Ant Group raises $246m from sale of 4% Paytm stake in block trade. ( Reuters)
Frasers Property explores privatization of Singapore-listed hospitality REIT. ( WSJ)
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AMERICAS
Apollo, an asset management firm, agreed to acquire a majority stake in PowerGrid Services, a provider of maintenance and construction services to electric utilities, from The Sterling Group, a private equity investment firm, according to press releases. Financial terms were not disclosed.
PowerGrid Services and The Sterling Group are advised by Lincoln International and Kirkland & Ellis. Apollo is advised by JP Morgan and Paul Weiss Rifkind Wharton & Garrison, according to press releases and MergerLinks data.
Silversmith Capital Partners, a growth equity investment firm, completed the investment in Rentsync, a rental housing software and data company, according to press releases. Financial terms were not disclosed.
Rentsync was advised by Software Equity Group and Borden Ladner Gervais. Silversmith was advised by Kirkland & Ellis (led by Christian A. Atwood) and Stikeman Elliott, according to press releases.
Investment firms T. Rowe Price, Alpha Wave Global, and Temasek led a $1.6bn round in Hub International, a global insurance brokerage and financial services firm, with participation from other new and existing investors, according to press releases.
Hub International is advised by Goldman Sachs, Morgan Stanley and Simpson Thacher & Bartlett (led by Naveed Anwar), according to press releases and MergerLinks data.
Argano, a digital services consultancy firm, completed the acquisition of Attentis Consulting, a salesforce healthcare consulting firm, according to press releases. Financial terms were not disclosed.
Argano was advised by Ernst & Young, Kirkland & Ellis and Edelman (led by Jessica Resnick-Ault), according to press releases.
Inverness Graham, a buyout firm focused on acquiring innovative, high-growth companies, completed the acquisition of Cognito Forms, an easy-to-use workflow automation solutions provider, according to press releases. Financial terms were not disclosed.
Cognito Forms was advised by Canaccord Genuity. Inverness Graham was advised by Paul Hastings, according to press releases.
TriGate Capital, a real estate investment manager, completed the acquisition of Perkins Rowe, a mixed-use lifestyle center, according to press releases. Financial terms were not disclosed.
TriGate Capital was advised by Jones Day (led by Conrad Steele). Debt financing was provided by Eastwest Bank, according to press releases and MergerLinks data.
Brandlive, a video platform, completed the acquisition of MediaPlatform, a provider of secure, scalable live video solutions, according to press releases. Financial terms were not disclosed.
MediaPlatform was advised by Piper Sandler, according to press releases and MergerLinks data.
Ferrari Agroindústria, a company engaged in the processing and sale of agricultural products, and Agromen Sementes, a biotechnology company producing and developing sorghum and corn seeds, agreed to acquire Leme sugarcane mill from Raízen, a Brazilian energy company, for BRL425m ($75m), according to press releases.
Matthews International, a manufacturer and marketer of memorialization products, branding and automation solutions, completed the acquisition of The Dodge Company, a provider of funeral products including embalming chemicals, instruments and urns, for $57m, according to press releases.
White Cap, a distributor of specialty construction supplies and safety products, agreed to acquire Raider Hansen, a distributor of tools, safety and equipment, according to press releases. Financial terms were not disclosed.
Blackstone in talks to acquire Texas and New Mexico utility TXNM Energy. ( Reuters)
Blackstone’s infrastructure investment arm is in discussions to acquire TXNM Energy, a utility focused on Texas and New Mexico.
Talks on structuring a potential agreement are ongoing, though a final deal has not yet been confirmed.
Telefonica taps Citi to manage sale of Chile unit. ( Bloomberg)
Telefonica has appointed Citigroup to oversee the sale of its Chilean subsidiary, Telefonica Chile, as part of its broader strategy to reduce exposure in Latin America.
Following several quarters of losses, the Spanish telecom group is also working with Rothschild and Santander to exit additional Spanish-speaking Latin American markets.
LA Chargers in talks to sell stake to private equity firm Arctos. ( Bloomberg)
The Los Angeles Chargers are in discussions with Arctos Partners to sell a minority stake in the NFL franchise.
If completed, the deal would make the Chargers the third NFL team to partner with a private equity firm following recent rule changes allowing institutional investors to hold minority stakes.
Hinge Health and investors target $437m in US IPO. ( Bloomberg)
Hinge Health, a digital physical therapy provider, along with investors including Tiger Global Management and Insight Partners, is aiming to raise up to $437m through a US IPO.
According to a filing with the US Securities and Exchange Commission, the company is offering 8.52m shares, with existing shareholders selling an additional 5.14m shares. The shares are being marketed at a price range of $28 to $32 each.
Figma taps Morgan Stanley to lead IPO, with Goldman also on board. ( Bloomberg)
Figma, the design software company backed by Index Ventures and Kleiner Perkins, has appointed Morgan Stanley to lead its planned initial public offering, which could rank among the year’s largest.
The company has also enlisted Goldman Sachs for the listing. Figma, which filed confidentially for an IPO in April 2025, could go public as early as this year.
Northleaf closes infrastructure fund at $2.6bn hard cap. ( Press Release)
Northleaf Capital Partners has closed its latest infrastructure fund, Northleaf Infrastructure Capital Partners IV, at its hard cap of $2.6bn, surpassing the original $2.25bn target.
This marks Northleaf’s largest infrastructure vehicle to date, reflecting the growth and performance of its mid-market platform. The fund is backed by over 70 institutional investors from 14 countries and has completed 37 investments so far.
Denali Growth Partners raises $400m for second growth equity fund. ( Press Release)
Denali Growth Partners has closed its second growth equity fund, Denali Growth Partners Fund II, with $400m in limited partner commitments, surpassing its $350m target.
The fund attracted strong interest from both existing and new investors.
EMEA
The European Commission has given the green light to Abu Dhabi National Oil Company's takeover of German chemical firm Covestro, removing a major regulatory obstacle for the acquisition to move forward.
According to the Commission, the deal does not pose any threats to market competition. This is because the two companies operate largely at different stages within the chemical and petrochemical industries.
HIG Capital, a global private equity firm, agreed to acquire a 73.8% stake in ALA, a logistics and engineering services provider in the aerospace and defense sectors, from AIP Italia, a holding company owned by Fulvio Scannapieco and Vittorio Genna, according to press releases. Financial terms were disclosed.
AIP Italia is advised by Mediobanca, Boccia & del Giudice and Gianni & Origoni. HIG Capital is advised by UniCredit. Debt financing is provided by UniCredit, according to press releases and MergerLinks data.
GTCR, a private equity firm, agreed to acquire JMG Group, a UK insurance broker, according to press releases. Financial terms were not disclosed.
GTCR is advised by Jefferies & Company, Morgan Stanley, Kirkland & Ellis (led by Jacob Traff) and Prosek Partners (led by Josh Clarkson), according to press releases and MergerLinks data.
Syrena Real Estate, a real estate investment and management firm, completed the acquisition of Zaułek Piękna office building from Manova Partners, an international property investment manager, according to press releases. Financial terms were not disclosed.
Manova Partners was advised by Greenberg Traurig (led by Karol Lewandowski), according to press releases and MergerLinks data.
King Street Capital Management, a global alternative asset manager, completed the €400m ($445m) investment in Room00, a high-end hostels company, according to press releases.
Room00 was advised by Cuatrecasas Goncalves Pereira (led by Diana Rivera), according to press releases and MergerLinks data.
Exxaro, a South African diversified resources mining company, agreed to acquire a portfolio of manganese assets from Ntsimbintle, a mining investment company, and OM Holdings, a manganese and silicon metals company, for ZAR11.67bn ($639m), according to press releases.
Jeito Capital, a global investment company, led a €132m ($147m) Series B round in Azafaros, a clinical-stage biotechnology company treating rare lysosomal storage disorders, with participation from Forbion, Seroba, Pictet, Schroders Capital and BGV, according to press releases.
QIAGEN, a global provider of Sample to Insight solutions, agreed to acquire Genoox, a provider of AI-powered software offering cloud-based tools for genomic data interpretation in clinical and research settings, for $80m, according to press releases.
KatRisk, a climate catastrophe risk modeling software provider, completed the acquisition of Gamma, a location intelligence and property risk solutions provider, according to press releases. Financial terms were not disclosed.
ABB considers $3.5bn sale of robotics unit as spinoff alternative. ( Bloomberg)
ABB is weighing a potential sale of its robotics division, valued at over $3.5bn, as an alternative to its previously announced spinoff plan.
The Swiss industrial group is nearing the appointment of advisers for both the potential sale and the planned listing.
Samsung nears $1.5bn-plus acquisition of Germany’s FläktGroup. ( Bloomberg)
Samsung Electronics is in the final stages of negotiations to acquire FläktGroup, a European heating and cooling specialist, in what would be its largest overseas deal in eight years.
Samsung is working toward an agreement with Triton Investment Advisers, which owns FläktGroup, with the German firm valued between $1.5bn and $2bn.
Iceland begins sale of Islandsbanki stake to reduce post-crisis holdings. ( Reuters)
Iceland has launched the sale of nearly half its 45.2% stake in Islandsbanki as part of efforts to unwind its holdings from the 2008 financial crisis.
Bookrunners placed a 20% stake in the bank up for sale on behalf of the government, with a focus on domestic retail investors. The offering may be expanded to include the full stake depending on demand.
German court rejects KNDS bid to block Triton from selling Renk shares. ( Reuters)
A Frankfurt court has dismissed a request by Franco-German defence contractor KNDS to block private equity firm Triton Partners from selling shares in German tank gearbox manufacturer Renk.
The legal action was part of an ongoing dispute over a share transfer agreement, as KNDS aims to increase its stake in Renk.
Actis raises $1.7bn for second long-life infrastructure fund. ( Bloomberg)
Actis, now owned by General Atlantic, has secured $1.7bn for its second long-life infrastructure fund focused on emerging markets.
The firm has already deployed nearly half of the capital from Actis Long Life Infrastructure Fund 2 and has a near-term deal pipeline exceeding $2bn.
APAC
Partners Group, a global private markets investment manager, agreed to acquire a majority stake in Digital Halo, a digital infrastructure investment and operating platform, for $400m, according to press releases.
Ridley, a provider of premium quality, high-performance animal nutrition solutions, agreed to acquire fertiliser distribution business of Incitec Pivot, a manufacturer of industrial explosives, chemicals, and fertilizers for the mining and agriculture sectors, for $300m, according to press releases.
Ridley is advised by UBS, according to press releases and MergerLinks data.
Ant Group raises $246m from sale of 4% Paytm stake in block trade. ( Reuters)
Ant Group has sold 25.5m shares in Indian fintech company Paytm through a block trade, raising $246m.
The shares were sold at INR823.10 ($9.69) each, representing a 4% stake and a 5% discount to Paytm’s previous closing price of INR866.05 ($10.21).
Frasers Property explores privatization of Singapore-listed hospitality REIT. ( WSJ)
Frasers Property is considering a privatization offer for Frasers Hospitality Trust, its Singapore-listed hospitality real estate investment trust.
Talks are in the early stages, and there is no certainty that a deal will be finalized.
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