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AMERICAS
Neuberger Berman-backed Marquee Brands to acquire Roots in a CAD161m deal.
Neuberger Berman-backed Marquee Brands, an American brand management company, agreed to acquire Roots, a Canadian heritage outdoor and lifestyle brand, in a CAD161m ($117m) deal, according to press releases.
Roots is advised by JP Morgan and Torys. Marquee Brands is advised by RBC Capital Markets, Raymond James, Greenberg Traurig and Miller Thomson. JM&A is advised by Fasken and Fazzari Partners. Debt financing is provided by BMO Capital Markets. Searchlight Capital is advised by Osler Hoskin & Harcourt, according to MergerLinks data and press releases.
CoStar Group, a provider of online real estate marketplaces, information, and analytics across the property markets, completed the acquisition of Zonda, a provider of new home construction data, homebuilder software, and residential real estate marketplaces, from MidOcean Partners, an alternative asset manager, for $800m, according to press releases.
Zonda was advised by Solomon Partners. CoStar Group was advised by Bank of America, Cyril Amarchand Mangaldas (led by Nivedita Rao, Arun Prabhu and Abe Abraham), Latham & Watkins (led by Daniel Rees). MidOcean Partners was advised by Houlihan Lokey and Gibson Dunn & Crutcher (led by Andrew M. Herman) and Prosek Partners, according to press releases and MergerLinks data.
Hull Street Energy, a company that invests in middle market energy companies, completed the acquisition of two power plants of Rockland Capital, an investment company that focuses on the acquisition, development, and optimization of companies and projects in the North American and European energy sector, according to press releases. Financial terms were not disclosed.
Hull Street Energy was advised by Investec, Santander and Troutman Pepper Locke (led by Wallace Bao, Steven Khadavi and Akshay Belani). Rockland Capital was advised by Houlihan Lokey, PEI Global Partners and Bracewell, according to press releases and MergerLinks data.
Mavis Tire Express Services, an independent tire and vehicle service providers, completed the acquisition of Pep Boys, a US automotive services company, from Icahn Enterprises, a diversified holding company, for $700m, according to press releases.
Mavis Tire Express Services was advised by Jefferies & Company, Bullard Law Group, Covington & Burling, and C Street Advisory. Icahn Enterprises was advised by Brown Rudnick, according to press releases and MergerLinks data.
Velocity Financial, a vertically integrated real estate finance company that primarily originates and manages business-purpose loans, agreed to acquire the operating platform of KKR-backed Toorak Capital, a business-purpose lending and asset management platform focused on residential real estate investors across the US and UK markets, for $62m, according to press releases.
Velocity Financial and KKR & Co are advised by Barclays, Morgan Lewis & Bockius and Simpson Thacher & Bartlett. Toorak Capital Partners is advised by Piper Sandler and Dechert, according to press releases.
FlightSafety International, a global aviation training company, agreed to acquire the commercial training solutions business of TJC-backed Acron Technologies, a mission-critical aerospace and defence technology platform, according to press releases. Financial terms were not disclosed.
FlightSafety International is advised by Baker McKenzie and APCO Worldwide. Acron Technologies is advised by Harris Williams & Co, RBC Capital Markets and Kirkland & Ellis, according to press releases.
Hidden Harbor Capital Partners, a private equity firm, completed the acquisition of Escape Fire Protection, a provider of fire protection and life-safety services, according to press releases. Financial terms were not disclosed.
Hidden Harbor Capital Partners was advised by Configure Partners and McDermott Will & Schulte. Debt financing was provided by Monroe Capital. Escape Fire Protection was advised by Hennepin Partners and DeWitt, according to press releases.
Industrial Physics, a global packaging, material, and coating test and measurement group, completed the acquisition of Vitrek, a designer and manufacturer of precision test and measurement solutions to diversified industrial manufacturers, from Branford Castle, a private equity and venture capital firm, according to press releases. Financial terms were not disclosed.
Industrial Physics is advised by Kirkland & Ellis and Lambert & Co (led by Christina Maldonado). Branford Castle Partners and Vitrek are advised by Stifel and Akerman, according to press releases.
HIG Capital, a private equity firm, agreed to invest in HBK, a US integrated accounting, tax, audit, consulting, technology and wealth management firm, according to press release. Financial terms were not disclosed.
HBK is advised by Houlihan Lokey and Levenfeld Pearlstein. HIG Capital is advised by William Blair & Co and Ropes & Gray, according to press releases and MergerLinks data.
TJC, a private equity firm specializing in ESG factors, agreed to invest in 3dB Labs, a company that develops specialized RF signal processing and analysis software and integrated hardware/software systems, according to press releases. Financial terms were not disclosed.
3dB Labs is advised by ArkMalibu and Robbins Kelly Patterson & Tucker. TJC is advised by Kirkland & Ellis and Prosek Partners, according to press releases.
Stone Point Capital, an alternative investment firm, completed the acquisition of the risk management business from Ever.Ag, an agri-food technology company, according to press releases. Financial terms were not disclosed.
Stone Point was advised by Sidley Austin and Prosek Partners. Ever.Ag was advised by William Blair & Co and Orrick Herrington & Sutcliffe, according to press releases.
Secovia Capital, a private equity firm, completed the acquisition of Ferrovia, a provider of contract management services intended for state departments of transportation, industrial railroad customers, utility providers and the pipeline industry, from Auxo Investment Partners, a lower middle market private investment firm, according to press releases. Financial terms were not disclosed.
Ferrovia was advised by BDO, Northborne Partners and Miller Johnson, according to press releases.
TowerBrook Capital Partners, a private equity firm, completed an investment in Rael, a women’s wellness brand focused on holistic cycle care, according to press releases. Financial terms were not disclosed.
Rael was advised by Jefferies & Company and Sidley Austin. TowerBrook Capital Partners was advised by Benesch Friedlander Coplan & Aronoff, according to press releases and MergerLinks data.
The Vistria Group, a private investment firm, agreed to acquire a majority stake in Curi Capital, an investment adviser and national wealth management firm, according to press release. Financial terms were not disclosed.
Curi Capital is advised Kilpatrick Townsend. The Vistria Group is advised by William Blair & Co and Winston Taylor, according to press releases and MergerLinks data.
Shore Capital Partners-backed Sweetmore Bakeries, a Chicago-based family of specialty SQF-certified bakeries, completed the acquisition of Fantasy Baking, a bakery manufacturer specialising in private label and branded baked goods supported by an in-house R&D lab, according to press releases. Financial terms were not disclosed.
Sweetmore Bakeries is advised by DLA Piper. Fantasy Baking is advised by Alantra and Brownstein Hyatt Farber Schreck, according to press releases.
T. Rowe Price to acquire F/m Investments from 1251 Capital Group.
T. Rowe Price, a US-based global asset management company, agreed to acquire F/m Investments, a fixed income investment advisory firm, from 1251 Capital Group, a financial services holding company, according to press releases. Financial terms were not disclosed.
F/m Investments is advised by Oppenheimer & Co and Fried Frank Harris Shriver & Jacobson. T. Rowe Price is advised by Dechert (led by Kenneth Young and Stephen Pratt), according to press releases.
Continuim Equity Partners, a private equity firm, completed the acquisition of a majority stake in Resodyn, a technology development and commercialization firm, according to press releases. Financial terms were not disclosed.
Continuim Equity Partners was advised by Chris Tofalli Public Relations (led by Chris Tofalli). Resodyn was advised by Liberty Ridge Advisors, according to press releases.
Linden Capital Partners, a private equity firm, completed the acquisition of ArtesRx, a behavioral health pharmacy platform, from Flexpoint Ford, a private equity investment firm, according to press releases. Financial terms were not disclosed.
ArtesRx was advised by Houlihan Lokey. Flexpoint Ford was advised by Joele Frank (led by Jonathan Keehner), according to press releases.
Rotunda Capital Partners-backed AirPro Diagnostics, a provider of automotive diagnostics, programming, scanning, and advanced driver assistance systems, completed the merger with Revv, a provider of AI-powered workflow software, according to press releases. Financial terms were not disclosed.
AirPro Diagnostics was advised by Jefferies & Company. Revv was advised by TD Cowen, according to press releases.
NVIDIA completed an investment in Blackstone-backed Lancium, an energy technology and infrastructure company, according to press release. Financial terms were not disclosed.
Lancium was advised by Vinson & Elkins (led by Michael P. Gibson), according to press releases and MergerLinks data.
Trident Management and Bluejay Capital-backed Priority Courier Experts, a same-day and next-day B2B delivery provider, completed the acquisition of Priority Dispatch, and Diamond Expedited, the delivery and logistics providers, according to press releases. Financial terms were not disclosed.
Priority Courier Experts was advised by RAM Communications (led by Ron Marguklis), according to press releases.
Eclipse, a venture capital firm, led a $250m Series C round in Muon Space, an American aerospace company, with participation from Galvanize, Google, Salesforce Ventures, Wellington Management, I Squared Capital, Woven Capital, Radical Ventures, Congruent Ventures, Costanoa Ventures, Activate Capital, ACME Capital, ArcTern Ventures and Overlap Holdings, according to press releases.
Muon Space was advised by Firm 19, according to press releases.
DAZN, a global sports entertainment platform, agreed to acquire EverPass Media, a US-based media and technology company that distributes live sports and entertainment content to commercial venues. The owners of EverPass, including RedBird Capital Partners, TKO Group Holdings and 32 Equity, will become minority shareholders in DAZN upon completion of the transaction, according to press releases. Financial terms were not disclosed.
JP Morgan Chase, a financial holding company, Andreessen Horowitz, a venture capital firm, and Carlyle, a private equity firm, led a $1bn Series C round in Castelion, a hypersonic defense contractor, with participation from Lightspeed Venture Partners, Lavrock Ventures, Altimeter, General Catalyst, Interlagos and T. Rowe Price Associates, according to press releases.
Manhattan West, a Los Angeles investment firm, led a $250m Series A round in Starcloud, a company that designs, builds, and deploys data centers in space, with participation from Benchmark, EQT, Soma, NFX, 776, NVIDIA, Cisco Investments, Cedar Capital, Goanna Capital and Standard Capital, according to press releases.
Qatar Investment Authority and Koch Disruptive Technologies led a $200m Series D round in Gatik, an autonomous freight technology company, with participation from Millennium Management, ARK Invest and Intact Private Capital, according to press releases.
Energize Capital and DCVC, the venture capital firms, led a $150m Series A round in Emerald AI, a software startup that optimises data centre energy consumption, with participation from NVIDIA, Samsung Ventures, Siemens, Aramco Ventures, Salesforce Ventures, GE Vernova, RWE, JERA Ventures, ADVentures, Sabanci Climate Ventures, In-Q-Tel, Radical Ventures, Energy Impact Partners, Lowercarbon Capital, Marunouchi Innovation Partners, Emerson Collective, The Olayan Group, the Temerty Group, John Doerr, Tom Steyer, Earthshot Ventures, Collective Global, and General Catalyst, according to press releases.
Atlanta Falcons explore minority stake sale to KKR’s Arctos Partners. ( Bloomberg)
The Atlanta Falcons are in talks to sell a 10% stake in the NFL franchise to KKR’s Arctos Partners.
If completed, the transaction would mark Arctos’ fourth investment in an NFL team, adding to its existing stakes in the Buffalo Bills, Los Angeles Chargers and Cleveland Browns.
Puck is in advanced talks for investment by RedBird Capital Partners at a $250m valuation. ( Reuters)
Puck is in advanced talks to receive an investment from RedBird Capital Partners in a deal that would value the newsletter startup at around $250m.
The transaction would involve existing institutional investors selling shares to RedBird, giving the media and entertainment investor a significant stake in the company. The investment would help fund Puck’s growth, although terms remain under discussion.
Carlyle‑backed YipitData is pursuing a sale that could top $2.5bn. ( Reuters)
YipitData, the Carlyle‑backed data analytics firm, is exploring a sale that could value the company at more than $2.5bn.
The potential transaction comes amid strong investor appetite for businesses with proprietary datasets — prized both for their ability to train AI models with differentiated insights and for the durable revenue streams that unique, hard‑to‑replicate data assets can generate even as AI reshapes broader technology usage.
Private‑equity owners explore exit from EverBank three years after acquisition. ( WSJ)
Florida‑based EverBank has been put up for sale three years after a consortium of private‑equity firms acquired the online lender.
The bank — a sponsor of the Jacksonville Jaguars’ stadium and a brand partner of quarterback Trevor Lawrence — may pursue an IPO if a sale cannot be agreed. The process has dragged on for months.
Shell draws Exxon interest in $8bn US chemical assets sale. ( FT)
Shell has attracted bids from ExxonMobil, LyondellBasell, Apollo Global Management and Kuwait Petroleum's chemicals arm for its US chemicals business, which could be valued at up to $8bn. The assets span four sites in Louisiana, Texas and Pennsylvania, including the Monaca complex, and bidders have submitted proposals for both the full business and selected assets.
The sale forms part of Shell’s effort to reduce exposure to underperforming chemicals operations and refocus on oil and gas. The potential valuation would represent a significant discount to the capital invested in the business, including roughly $14bn spent on the Monaca facility alone.
Hugging Face has been fielding M&A interest for a deal worth at least $13bn. ( Business Insider)
Hugging Face is exploring a potential sale that could value the AI developer platform at $13bn or more. The company has been working with a bank to gauge buyer interest, although no transaction has been agreed.
The startup operates a widely used platform for publishing, sharing and deploying AI models and was last valued at $4.5bn in 2023. Its investors include Lux Capital, Addition and Salesforce Ventures.
MassMutual Ventures commits to launch $150m Climate Technology Fund II. ( Press Release)
MassMutual Ventures has launched Climate Technology Fund II, a $150m venture capital fund focused on early-stage companies developing climate technology and artificial intelligence solutions for real assets.
The fund will invest in North American businesses operating across sectors including energy infrastructure, real estate and natural resources. Climate Technology Fund II follows MMV's inaugural climate technology fund and will target companies focused on energy systems, digital infrastructure and climate resilience.
EMEA
Radiology Partners, a technology-enabled radiology practice in the US, agreed to acquire Everlight Radiology, a company that provides remote radiology reporting services to hospitals and imaging clinics to support diagnostic and patient care needs, from Livingbridge, a private equity firm, according to press releases. Financial terms were not disclosed.
Radiology Partners is advised by Barclays, Rothschild & Co, Jones Day, Kirkland & Ellis and Jarrard Phillips Cate & Hancock, according to press releases.
Premius Capital, a European private equity firm, completed the acquisition of Plantexpand, a UK-based provider of outsourced maintenance, compliance and asset management for commercial vehicle fleets and specialist plant equipment, from Foresight Group, a private equity investment manager, according to press releases. Financial terms were not disclosed.
Plantexpand and Foresight Group were advised by Crowe Global, Accuracy, Grant Thornton, Birketts and Influential (led by Chris Barry), according to press releases.
Exponent, a UK-based private equity firm, agreed to invest in KTL, an Irish specialist provider of engineering services to the telecommunications and power sectors across Ireland and the UK, according to press releases. Financial terms were not disclosed.
KTL is advised by Capnua. Exponent is advised by IBI Corporate Finance, according to press releases.
VTC, an independent investment firm, completed the acquisition of Silbitz, a foundry group producing complex cast components for industrial applications, from Deutsche Beteiligungs, a German investment company, according to press releases. Financial terms were not disclosed.
DBAG was advised by Barclays, according to MergerLinks data.
KLAR Partners-backed Nimlas, a technical installation and building services company, agreed to acquire BMS & Green Tech Solutions, a building automation and energy management company, according to press releases. Financial terms were not disclosed.
RedBird Capital pitches investment in Prem Rugby. ( Sky News)
RedBird Capital Partners, the sports and media investment firm that owns AC Milan, has begun exploring a potential deal to become a major financial backer of English professional rugby.
RedBird is in early discussions with stakeholders including CVC Capital Partners, the majority owner of Global Sport Group, which holds the largest share in Premiership Rugby.
Princess of Wales's favourite handbag maker close to stake sale. ( Sky News)
Scottish luxury handbag brand Strathberry is nearing a deal to sell a significant minority stake to private equity firm Soho Square at a valuation of close to £100m ($136m). The transaction could be completed in the coming weeks.
Existing investor BGF, which invested £8m ($10.9m) in 2021 when Strathberry was valued at around £32m ($43.6m), is expected to sell its stake as part of the deal.
TGJones-owner Modella among potential suitors for Poundland. ( Sky News)
Poundland has attracted interest from potential buyers, including Modella Capital, as a sale process for the UK discount retailer progresses.
Modella Capital, which previously acquired Dealz, has been approached regarding a possible bid, although it has not yet committed to an offer. Discussions remain at an early stage and no transaction has been agreed.
Apollo, IFM and KKR said to be finalists in AB Ports stake sale. ( Bloomberg)
Apollo Global Management, IFM Investors and KKR have advanced to the final round of bidding for a majority stake in Associated British Ports, the UK’s largest port operator.
Canada Pension Plan Investment Board and Omers are seeking to sell their combined 64% stake in a transaction that could value the business at around £10bn ($13.6bn).
Arcus weighs £2bn sale of Workdry International. ( Bloomberg)
Arcus Infrastructure Partners is exploring a potential sale of Workdry International, a provider of water treatment and infrastructure services.
The investment firm is working with advisers to assess interest from prospective buyers. Workdry could be valued at £2bn ($2.7bn) or more, although discussions remain at an early stage and no transaction has been agreed.
Siemens Energy taps Goldman Sachs for steam turbine stake sale. (Bloomberg)
Siemens Energy is exploring a potential sale of a majority stake in its steam turbines business, attracting interest from several private equity firms.
CVC Capital Partners, EQT, Bain Capital, Brookfield and KKR are among the firms evaluating potential bids for the business, which could be valued at more than €10bn ($11.7bn). Siemens Energy is working with advisers as it prepares to solicit offers for the unit.
Aldermore auction intensifies as CVC moves into the process. ( Sky News)
The contest to acquire Aldermore is set to intensify next month, with private equity firms — including CVC Capital Partners — preparing to submit offers for the South African‑owned challenger bank caught up in the motor‑finance mis‑selling scandal.
CVC, which holds stakes in the RAC and Six Nations Rugby, has been laying the groundwork for a bid for several months.
Waterland and Giacom plot £1bn carve‑up of telecoms group Gamma. ( Sky News)
Waterland is in talks to acquire Gamma Communications and carve up the London‑listed telecoms group, with a plan to sell a substantial portion of the business to Giacom, the telecoms services company chaired by Matthew Riley and backed by private equity firm Inflexion.
British fund management giants vie to run £1bn Scale-Up Fund. ( Sky News)
M&G Investments and Schroders are among the firms competing to manage a new £1bn ($1.36bn) UK Scale Up Fund aimed at investing in promising British science and technology companies.
The government-backed vehicle will be funded by pension schemes including LPPI, Border To Coast, Railpen and Nest, with support from the British Business Bank. Other asset managers and early-stage investors have also applied to manage the fund.
APAC
Amwins Group, KKR and Dragoneer Investment Group to acquire Steadfast Group for AUD7.7bn.
Amwins Group, a global distributor of specialty insurance products and services, KKR and Dragoneer Investment Group, two investors, agreed to acquire Steadfast Group, a general insurance broker and underwriting agency group, for AUD7.7bn ($5.5bn), according to press releases.
Steadfast is advised by Citigroup, Insight Capital Advisors, JP Morgan and Mallesons. Amwins Group is advised by Gilbert + Tobin (led by Peter Cook), according to MergerLinks data and press releases.
Kedaara Capital, an operationally oriented private equity firm, completed a $200m investment in Tynor Orthotics, an Indian company that designs and manufactures orthopaedic supports, medical braces, and rehabilitation devices, according to press releases.
Kedaara was advised by o3 Capital, according to press releases.
Advent to acquire a majority stake in NZCR Group from Waterman Capital.
Advent, a private equity firm, agreed to acquire a majority stake in NZCR Group, a clinical trials and medical research organisation, from Waterman Capital, a private company investor, according to press releases. Financial terms were not disclosed. 1
Advent is advised by Teneo, according to press releases.
Hengdian Group, one of China's largest private enterprises, agreed to acquire a 67% stake in Jiali Industry, a vehicle lighting manufacturer, for $215m, according to press releases.
KKR, an investment firm, agreed to acquire Ci FLAVORS, a Japanese beauty and lifestyle company that manages and develops personal care brands, from L Catterton, an American private equity firm, Yanagi Capital Partners, a Japanese consumer brands-focused private equity firm, and eBeatuy Group, a digital e-commerce service provider. Financial terms were not disclosed.
EQT Holdings Limited says it has received an unsolicited, indicative and non‑binding takeover proposal from BGH Capital, which is seeking to acquire 100% of EQT’s outstanding shares via a scheme of arrangement at an indicative price of AUD24.75 ($17.74) per share in cash, adjusted for any dividends declared or paid.
ChrysCapital-backed KIMS in talks to acquire stake in Renova Hospitals for $52m. ( Deal Street Asia)
Krishna Institute of Medical Sciences (KIMS) is in advanced discussions to acquire a stake in Renova Hospitals, an oncology-focused healthcare provider operating hospitals and care centres across southern India.
The transaction is understood to be in its final stages and could value Renova Hospitals at approximately INR 5bn ($52m). The deal would expand KIMS's presence in specialised healthcare services, including cancer treatment and related medical care.
Partners Group exits bubble-tea brand Gong Cha after Bain buyout. ( Bloomberg)
Partners Group will exit its private credit investment in Gong Cha following Bain Capital’s acquisition of the Taiwanese bubble-tea chain from TA Associates.
The Swiss asset manager has agreed to be fully repaid on financing it provided in 2019, when it committed more than $200m to support TA Associates’ acquisition of Gong Cha and also took a minority equity stake.
Avaada said to plan public filing for $800m India IPO. ( Bloomberg)
Avaada Electro is preparing to publicly file for an Indian IPO that could raise up to $800m, with the filing potentially coming as early as August. The solar manufacturing company is backed by Brookfield Renewable Partners.
ICICI Securities, Axis Capital, HSBC, IIFL Capital Services and Bank of America have been appointed to manage the potential offering. Avaada Electro is the solar manufacturing arm of Avaada Group.
Alibaba‑backed Dexmal seeks a $3bn valuation in new funding round. ( Bloomberg)
Chinese robotics startup Dexmal is pursuing a valuation of roughly CNY20bn ($3bn) in its current funding round, reflecting strong investor appetite for companies pushing advancements in physical artificial intelligence.
The discussions remain underway and follow an earlier round that included Chinese AI lab Z.AI (Zhipu), founder Tang Wenbin told Bloomberg News during the World Robot Conference in Beijing. Dexmal said the new raise comes after late‑2025 funding led by Alibaba Group and NIO Capital.
Azalea raises over $1bn across three private equity offerings. ( Press Release)
Azalea Investment Management has secured more than $1bn across three private equity vehicles, including a $526m final close for Altrium Private Equity Fund III, a $210m first close for Altrium Co-Invest Fund II and more than $350m in initial commitments for its new evergreen fund, Azalea All Access.
The Temasek-owned manager is targeting global mid-market buyouts, secondaries and co-investments, while the evergreen vehicle offers monthly subscriptions and quarterly redemptions. The fundraising drew commitments from institutional investors, private banks, family offices and high-net-worth individuals across Asia and other international markets.
Granite Asia raises $500m for private credit fund. ( Bloomberg)
Granite Asia has raised more than $500m for its Asia-focused private credit strategy, exceeding the initial capital committed when the fund launched in mid-2025.
The Libra Hybrid fund attracted investors including Temasek subsidiary Aranda Principal Strategies, DBS Private Bank, Khazanah Nasional and the Indonesia Investment Authority.
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