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AMERICAS

LongRange Capital and Mark Mastrov to acquire 24 Hour Fitness.

LongRange Capital, a private equity firm, and Mark Mastrov agreed to acquire 24 Hour Fitness, a privately owned and operated fitness center chain, according to press releases. Financial terms were not disclosed.

24 Hour Fitness is advised by Piper Sandler and Ropes & Gray. LongRange Capital is advised by RBC Capital Markets and Paul Weiss Rifkind Wharton & Garrison (led by Angelo Bonvino). Mark Mastrov is advised by AJB Law Group and Sidley Austin, according to press releases and MergerLinks data.

Antin to acquire Emsere from Gryphion.

Antin, a private equity firm, agreed to acquire Emsere, a clinical trial solutions partner specializing in the provision of medical devices and laboratory equipment, from Gryphion, a family investment platform, according to press releases. Financial terms were not disclosed.

Antin is advised by Macquarie Group, Loyens & Loeff and Brunswick Group (led by Tristan Roquet Montegon). Gryphion is advised by Moelis & Co and DLA Piper, according to press releases.

Veritas Capital to acquire a majority stake in GHX.

Veritas Capital, a private-equity firm, agreed to acquire a majority stake in GHX, a provider of data management solutions, according to press releases. Financial terms were not disclosed.

Veritas Capital is advised by Gibson Dunn & Crutcher and Prosek Partners. GHX is advised by Evercore, Cleary Gottlieb Steen & Hamilton and Highwire PR, according to press releases.

Grant Avenue completes the acquisition of PatientCare EMS.

Grant Avenue, a healthcare-focused private equity firm, completed the acquisition of PatientCare EMS, a provider of ground-based 911 emergency ambulance services and other critical healthcare logistics solutions, according to press releases. Financial terms were not disclosed.

Grant Avenue was advised by Citizens M&A, Lincoln International, McGuireWoods and Gasthalter & Co (led by Amanda Shpiner), according to press releases.

Blackstone completes the acquisition of the remaining stake in Air Control Concepts from Madison Dearborn Partners.

Blackstone, an American multinational private equity firm, completed the acquisition of the remaining stake in Air Control Concepts, a company that partners with and supports local commercial HVAC solutions providers, from Madison Dearborn Partners, an American private equity firm, according to press releases. Financial terms were not disclosed.

Blackstone was advised by Centerview Partners, RBC Capital Markets and Simpson Thacher & Bartlett. Sellers were advised by Kirkland & Ellis, according to press releases.

Southfield Capital-backed Kelvin Group completes the acquisition of PermaCold Engineering.

Southfield Capital-backed Kelvin Group, a provider of services in the field of industrial and commercial mission-critical mechanical services, completed the acquisition of PermaCold Engineering, a provider of engineered and constructed green refrigeration systems, according to press releases. Financial terms were not disclosed.

Southfield Capital and Kelvin Group were advised by Finn Dixon & Herling. Kelvin Group was advised by G2 Capital Advisors. Debt financing was provided by Crescent Capital Partners and Deerpath Capital Management, according to press releases.

Thoma Bravo-backed Majesco completes the acquisition of Vitech from CVC.

Thoma Bravo-backed Majesco, a provider of in cloud-native, AI-native software for the P&C and L&AH segments, completed the acquisition of Vitech, a provider of cloud-native benefits administration software, from CVC, a private equity and investment advisory firm, according to press releases. Financial terms were not disclosed.

Thoma Bravo and Majesco were advised by Kirkland & Ellis. Vitech was advised by RBC Capital Markets. CVC was advised by White & Case (led by Paul Pittman), according to press releases.

Cornell Capital-backed PureStar completes the acquisition of Emerald Textiles.

Cornell Capital-backed PureStar, an American provider of laundry services and linen management, completed the acquisition of Emerald Textiles, a provider of healthcare linen and laundry services, according to press releases. Financial terms were not disclosed.

Cornell Capital and PureStar were advised by Jefferies & Company and Davis Polk & Wardwell. Cornell Capital was advised by Joele Frank (led by Kate Thompson), according to press releases.

Calera Capital completes the acquisition of ReVamp.

Calera Capital, a middle-market private equity firm, completed the acquisition of ReVamp, a residential floor coating and vinyl fence installers, according to press releases. Financial terms were not disclosed.

Calera Capital was advised by Baker McKenzie, Simpson Thacher & Bartlett and Prosek Partners (led by Mickey Mandelbaum), according to press releases.

Gemspring Capital completes the acquisition of TRG.

Gemspring Capital, a private equity firm, completed the acquisition of TRG, a global managed services provider specializing in enterprise mobility, industrial mobility, and technology solutions, according to press releases. Financial terms were not disclosed.

Gemspring Capital was advised by Kirkland & Ellis. TRG was advised by Guggenheim Partners and Jones Day (led by David Schindelheim), according to press releases and MergerLinks data.

BGB Group completes the acquisition of Hayden Consulting Group.

BGB Group, a company specializing in transforming science, completed the acquisition of Hayden Consulting Group, a consulting firm, according to press releases. Financial terms were not disclosed.

BGB Group was advised by MP Law LLP. Hayden Consulting Group was advised by Clearsight Advisors and Morgan Lewis & Bockius, according to press releases.

Planet First Partners led a $130m round in Photonic.

Planet First Partners, a private equity firm, led a $130m round in Photonic, a provider of distributed quantum computing, with participation from Royal Bank of Canada, TELUS, BCI and Microsoft, according to press releases.

Photonic was advised by Evercore and Interprose, according to press releases and MergerLinks data.

Karman to acquire Seemann Composites and MSC for $220m.

Karman, an American fabricator of space and defense systems, agreed to acquire Seemann Composites, a manufacturer that provides advanced composite solutions and technologies, and MSC, a machinery manufacturing company, for $220m, according to press releases.

Olaplex said to attract takeover offer from Germany’s Henkel. (Bloomberg)

Henkel has made a takeover offer for Olaplex, whose shares have plunged more than 90% since its IPO. Olaplex and Henkel are in talks, and a deal could be reached within weeks. Olaplex shares jumped over 36% on the news, Advent remains its largest shareholder.

AbbVie denies media reports of talks to buy Revolution Medicines. (Reuters)

AbbVie denied being in talks to buy Revolution Medicines, countering reports of advanced deal discussions. Revolution’s shares fell after the denial.

The rumored deal implied a value near $20bn. AbbVie also trimmed its 2025 earnings outlook due to a $1.3bn R&D charge.

Millicom shows interest in buying Telefonica’s Chile unit. (Bloomberg)

Millicom has shown interest in bidding for Telefónica’s Chilean unit as it looks to enter the market, a move that could add a new competitor to the country’s telecom sector if it proceeds.

The Tigo-branded operator has been expanding across Latin America, agreeing over the past year to acquire several Telefónica assets in the region — including in Colombia, Ecuador and Uruguay — as the Spanish group scales back its presence outside Brazil.

EMEA

EU antitrust regulators to decide on Google's Wiz deal by February 10. (Reuters)

EU antitrust regulators are set to decide by February 10 whether to approve Alphabet’s $32bn acquisition of cybersecurity firm Wiz, its largest deal to date, following a review by the European Commission after Alphabet announced the transaction last year as part of its push to strengthen cybersecurity capabilities and bolster its competitiveness in cloud computing against Amazon and Microsoft.

Wiz is advised by Barclays, Goldman Sachs (led by Pawan Tewari), JP Morgan, Morgan Stanley, Cravath Swaine & Moore (led by Noah Joshua Phillips), Fenwick & West (led by Michael Brown) and Slaughter & May (led by Jonathan Slade). Alphabet is advised by Freshfields Bruckhaus Deringer. Google is advised by Bank of America (led by Stewart Barry) and Cleary Gottlieb Steen & Hamilton (led by Leah Brannon). Bank of America is advised by Sullivan & Cromwell, according to press releases and MergerLinks data.

Varsity completes the investment in Trialbee.

Varsity, a healthcare services private equity investment firm, completed the investment in Trialbee, a patient recruitment platform specializing in patient recruitment services, according to press releases. Financial terms were not disclosed.

Varsity was advised by Piper Sandler and Prosek Partners (led by Mickey Mandelbaum), according to press releases.

Bregal Sagemount completes the investment in Redgate Software.

Bregal Sagemount, a growth-focused private capital firm, completed the investment in Redgate Software, a provider of database management solutions, according to press releases. Financial terms were not disclosed.

Redgate Software was advised by Shea & Co and DLA Piper, according to press releases.

I Squared Capital to acquire Ramudden from Triton.

I Squared Capital, a private equity firm, agreed to acquire Ramudden, an international provider of traffic management and infrastructure safety, from Triton, a private equity firm, according to press releases. Financial terms were not disclosed.

Triton is advised by Deutsche Bank and Goldman Sachs, according to press releases and MergerLinks data.

KKR and Oak Hill Capital to invest $1.9bn in Global Technical Realty.

KKR and Oak Hill Capital, private equity firms, agreed to invest $1.9bn in Global Technical Realty, a European built-to-suit data center platform, according to press releases.

GTR is advised by RBC Capital Markets, according to press releases and MergerLinks data.

Galp, Mubadala-owned Moeve explore Iberian downstream tie-up. (Bloomberg)

Galp Energia and Mubadala-owned Moeve are in early talks to merge their Iberian filling stations and refining operations, potentially forming separate joint ventures for retail and industrial activities.

The companies are exploring the formation of two joint ventures—one centered on retail operations and the other on industrial activities.

AI21 co-founder says firm held early talks with Nvidia and others. (Bloomberg)

AI21 Labs, a Tel Aviv-based AI startup, held preliminary discussions with Nvidia and other companies, though Co-Founder Amnon Shashua said no deal is imminent.

Banks vie to provide €4.5bn debt for Advent’s InPost bid. (Bloomberg)

Banks are competing to provide up to €4.5bn ($5.3bn) in debt for a potential Advent International-led takeover of Polish parcel locker operator InPost, marking a major deal in the 2026 M&A and leveraged finance market.

Several lenders have reached out to the private equity firm.

Czech defence firm CSG weighs launch of Amsterdam IPO as soon as next week. (Reuters)

Czech defence firm CSG is considering an Amsterdam IPO as soon as next week, potentially raising over €3bn ($3.5bn) by listing 15% of its shares.

The company is weighing market conditions before proceeding.

APAC

Savoria to acquire tea business in Indonesia from Unilever.

Savoria, a prominent food and beverage company, agreed to acquire tea business in Indonesia from Unilever, a British-Dutch transnational consumer goods company, according to press releases. Financial terms were not disclosed.

Chinese teahouse chain Chagee to explore Hong Kong listing. (Bloomberg)

Chinese tea brand Chagee Holdings is weighing a potential Hong Kong listing, as more companies flock to raise capital in the Asian financial center.

The company has begun preliminary discussions with banks about a possible share offering that could bring in several hundred million dollars, potentially as soon as this year. Chagee already trades in the United States, where its IPO last year made then-30-year-old CEO Zhang Junjie a billionaire.

UI Boustead to seek $700m Singapore IPO in March. (Bloomberg)

UI Boustead REIT is preparing for a Singapore IPO as early as March, targeting around SGD900m ($700m) in proceeds.

The real estate investment trust arm of Boustead Singapore is expected to start marketing the offering to investors as soon as next month. They added that talks are still underway and that the size and timing of the deal remain subject to change.

Baillie Gifford, GIC to buy shares in MiniMax’s $619m Hong Kong IPO. (Bloomberg)

Baillie Gifford and Singapore sovereign wealth fund GIC are among the investors purchasing shares in MiniMax Group’s HKD4.8bn ($619m) initial public offering in Hong Kong.

Demand from institutional investors was robust, with orders exceeding 70 times the shares on offer and more than 460 institutions taking part. The Chinese artificial-intelligence company priced the IPO at the top end of its marketing range, with institutional bids—excluding the cornerstone allocation—surpassing available shares by over 70 times.

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