Read on...
Scroll down to read deal descriptions. Your suggestions and comments support the democratisation of M&A data. If you'd like to contribute to the future editions, drop us a line.
AMERICAS
A consortium of investors including PIF, Silver Lake and Affinity Partners agreed to acquire Electronic Arts, an American video game company, in a $55bn deal, according to press releases.
EA is advised by Goldman Sachs, Wachtell Lipton Rosen & Katz (led by Edward D. Herlihy, David Lam and Eric Feinstein) and FGS Global (led by Jenny Gore). PIF is advised by JP Morgan, Gibson Dunn & Crutcher, Kirkland & Ellis and FGS Global (led by Danya Al-Qattan). Silver Lake is advised by JP Morgan, Kirkland & Ellis, Latham & Watkins, Simpson Thacher & Bartlett and FGS Global (led by Danya Al-Qattan). Affinity Partners is advised by JP Morgan, Kirkland & Ellis, Sidley Austin and FGS Global (led by Danya Al-Qattan). Debt financing is provided by JP Morgan, according to press releases and MergerLinks data.
GTCR, a private equity firm, agreed to acquire Dentalcorp, a Canadian dental services provider, from L Catterton, a private equity firm, for CAD3.3bn, according to press releases.
Dentalcorp is advised by Canaccord Genuity, INFOR Financial, Blake Cassels & Graydon, McCarthy Tetrault and Weil Gotshal and Manges (led by Jakub Wronski). GTCR is advised by Moelis & Co, Goodmans, Latham & Watkins and Prosek Partners (led by Josh Clarkson). L Catterton is advised by Kirkland & Ellis and Stikeman Elliott, according to press releases.
Waystar, a provider of healthcare payment software, completed the acquisition of Iodine Software, an AI-powered clinical intelligence, from Advent, a private equity firm, for $1.25bn, according to press releases.
DB Insurance, a South Koreaan non-life insurer company, agreed to acquire Fortegra, a US-based specialty insurer from Tiptree, a US-based company that provides specialty insurance products, and Warburg Pincus, a private equity firm, for $1.65bn, according to press releases.
Fortegra is advised by Bank of America, Barclays, Ropes & Gray and Sidley Austin. DB Insurance is advised by Goldman Sachs and Latham & Watkins, 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.
JTB, a Japan travel solutions provider, completed the acquisition of Northstar Travel Group, a B2B travel industry events, media and information services company, from EagleTree Capital, a private equity firm, according to press releases. Financial terms were not disclosed.
Northstar Travel Group was advised by BrightTower (led by Amir Akhavan) and Jones Day (led by Andrew M. Levine and Emily Cai). JTB was advised by SMBC Nikko Securities, Mori Hamada & Matsumoto and Venable. EagleTree was advised by BrightTower (led by Amir Akhavan), according to press releases and MergerLinks data.
HIG Capital, a private equity and alternative assets investment firm, completed the acquisition of workwear business of Rentokil Initial, a pest control, hygiene and wellbeing services provider, for $465m, according to press releases.
HIG Capital was advised by Jefferies & Company and Santander. Rentokil Initial was advised by Goldman Sachs, Baker McKenzie (led by Marie-Françoise Bréchignac) and FTI Consulting (led by Richard Mountain), according to press releases and MergerLinks data.
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.
Artemis, a Boston-based private equity firm, completed the acquisition of Millrock Technology, a provider of lyophilization instrumentation and ancillary products, according to press releases. Financial terms were not disclosed.
Millrock was advised by Sperry Mitchell & Company and Seward & Kissel. Artemis was advised by Robert W Baird and Morgan Lewis & Bockius (led by Mark Opitz) , according to press releases and MergerLinks data.
Lovell Minnick, a private equity firm, agreed to acquire Merchant Industry, a fintech company, according to press releases. Financial terms were not disclosed.
Lovell Minnick is advised by Dechert and Prosek Partners. Merchant Industry is advised by MAPP Advisors and Vedder Price, according to press releases.
Pacific Avenue Capital, a middle-market private equity firm, completed the acquisition of the self service segment from LKQ Corporation, a provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles, for $410m, according to press releases.
LKQ was advised by Jefferies & Company and Wachtell Lipton Rosen & Katz (led by Mark Stagliano). Financial advisor was advised by White & Case (led by Denise A. Cerasani), according to press releases and MergerLinks data.
TMX Group, a Canadian financial services company, completed the acquisition of Verity, a buy-side investment research management system, data, and analytics provider, from Resurgens Technology Partners, a tech-focused private equity firm, according to press releases. Financial terms were not disclosed.
Verity was advised by Solomon Partners and DLA Piper. Resurgens was advised by Profile Advisors (led by Edward Lopez), according to press releases.
QHP Capital, an investment company, completed the investment in Vector Clinical Trials, a dedicated clinical research site network, according to press releases. Financial terms were not disclosed.
Vector was advised by Cantor Fitzgerald. QHP Capital was advised by Ropes & Gray, according to press releases and MergerLinks data.
AMG, a global asset management company, agreed to invest in BBH Credit Partners, a new subsidiary of Brown Brothers Harriman, according to press releases. Financial terms were not disclosed.
AMG is advised by Paul Weiss Rifkind Wharton & Garrison (led by David Hepp and Matthew Collin). BBH is advised by Prosek Partners (led by Brian Janson), according to press releases and MergerLinks data.
KSL Capital Partners, an alternative investment firm, completed the acquisition of The Westin Hilton Head Island Resort & Spa, according to press releases Financial terms were not disclosed.
KSL Capital was advised by Joele Frank (led by Jonathan Keehner) , according to press releases and MergerLinks data.
Frontenac, a private equity firm, agreed to invest in Beckway, a specialized consulting firm, according to press releases Financial terms were not disclosed.
Beckway is advised by Clearsight Advisors (led by Joel Kallett) , according to press releases and MergerLinks data.
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.
KKR explores $7bn sale of stake in Canada's Pembina Gas Infrastructure. ( Reuters)
KKR is exploring a sale of its 40% stake in Pembina Gas Infrastructure, with the holding in the Canadian midstream operator expected to be valued at about $7bn. The investment firm formed the joint venture in 2022 with Pembina Pipeline.
Pembina Gas Infrastructure owns natural gas and natural gas liquids transportation, processing and storage assets across western Canada. Discussions are ongoing and may not result in a finalized transaction.
Josh Harris's firm in talks to take control of Aga cooker business. ( FT)
Billionaire US investor Josh Harris’ firm could take control of the business behind Aga cookers, the cast-iron stoves popular in British farmhouse kitchens. Harris’s new vehicle, 26North, is in talks to acquire a controlling stake in Middleby’s residential kitchen equipment unit.
Middleby, facing pressure from activist investor Garden Investments, plans to spin off the division into a joint venture. Discussions are ongoing, and no final agreement has been reached.
BlackRock’s GIP nears $38bn takeover of utility AES. ( FT)
BlackRock-owned Global Infrastructure Partners is nearing a $38bn deal to acquire utility group AES, in what would rank among the largest infrastructure takeovers of all time. GIP, a specialist in infrastructure investments, owns stakes in London’s Gatwick Airport and major pipeline networks in the US and Middle East.
The transaction would value AES at around $38bn including debt. Talks are at an advanced stage, though no final agreement has been reached and discussions could still collapse. If completed, the deal would significantly expand GIP’s global utility portfolio and strengthen its position in the energy infrastructure sector.
Softbank and Ark Investment circle Tether funding round. ( Bloomberg)
SoftBank Group and Ark Investment Management are among potential backers in a major funding round that could solidify Tether Holdings’ position as one of the world’s largest private companies. The deal would mark a significant step in bringing outside capital to the stablecoin issuer.
The two technology-focused investors are part of a group of high-profile names in early discussions to provide funds to Tether. It would be the company’s largest search yet for external investment.
EMEA
Antin Infrastructure Partners, a private equity firm, agreed to acquire a majority stake in Swiftair Group, a provider of aircraft leasing and air transportation solutions for time-critical cargo, according to press releases. Financial terms were not disclosed.
Swiftair is advised by Morgan Stanley, CMS Legal and Llorente Y Cuenca (LLYC) (led by Valvanera Lecha). Antin is advised by Banco Bilbao Vizcaya Argentaria (BBVA), Deutsche Bank, Perez Llorca and Brunswick Group (led by Tristan Roquet Montegon), according to press releases and MergerLinks data.
Prosus-backed OLX, an online classifieds company, agreed to acquire La Centrale, an autos classifieds platform, from Providence Equity Partners, a specialist private equity investment firm, for €1.1bn ($1.3bn), according to press releases
La Centrale is advised by NewCap (led by Nicolas Merigeau). OLX is advised by Bank of America and A&O Shearman. Providence is advised by Goldman Sachs (led by Clif Marriott), Kirkland & Ellis and FGS Global (led by Charlie Chichester).
Hayfin, an alternative asset management platform, completed the acquisition of Gropius Passagen, a shopping centre, from Nuveen, an investment management firm, and Unibail-Rodamco-Westfield, a commercial real estate company, according to press releases Financial terms were not disclosed.
Hayfin was advised by JLL Corporate Finance, Gleiss Lutz (led by Tim Weber) and Macfarlanes. Nuveen was advised by Ambas Financial Services, CBRE Group and HauckSchuchardt Drees & Sommer , according to press releases and MergerLinks data.
KKR, a private equity firm, completed the acquisition of Infobric, a provider of software solutions for the European construction industry, from Summa Equity, an investment firm. Financial terms were not disclosed.
KKR, a private equity firm, completed the acquisition of a minority stake in ADNOC Gas Pipeline, an integrated gas company, according to press releases. Financial terms were not disclosed.
Epiris begins £700m sale of Pure Cremation. ( Sky News)
Private equity firm Epiris, the owner of Pure Cremation, has launched a sale process that could value the UK funeral provider at up to £700m ($938m). Pure Cremation operates the country’s busiest crematorium and is one of Britain’s largest funeral providers.
Advisers to Epiris, which bought the company from its founders in 2023, have begun approaching potential bidders to gauge interest in the business as the auction gets underway.
Ontario Teachers' eyes Logoplaste exit at $2bn valuation. ( Bloomberg)
Ontario Teachers' Pension Plan Board is exploring a sale of Portuguese packaging maker Logoplaste, which could be valued at more than €1.7bn ($2bn). The Canadian pension fund holds a 60% stake in the company and has appointed banks to advise on a potential sale of the entire business.
A transaction could be completed as soon as 2026, though discussions are ongoing and no final decision has been made. The move highlights growing investor interest in packaging and industrial manufacturing assets in Europe.
Elliott explores $4bn sale of UK’s Ark Data Centres. ( Reuters)
Elliott Investment Management is exploring strategic options for Ark Data Centres, including a potential sale that could value the UK-based firm at more than £3bn ($4bn).
Claire’s UK on brink of rescue deal with Modella Capital. ( Sky News)
Modella Capital and Interpath Advisory are close to finalising a deal to take over the British operations of Claire’s, the accessories retailer. The agreement is expected to follow the appointment of Interpath as administrator to the company’s UK and Irish arms.
While the transaction would rescue the business, it is likely to result in significant store closures and job losses across Claire’s high street network as the new owners restructure the chain.
APAC
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.
Tata Capital targets $1.7bn in India’s biggest 2025 IPO. ( Bloomberg)
Tata Capital plans to raise up to INR155bn ($1.7bn) in an initial public offering, set to be India’s largest listing this year.
Tata Sons and International Finance Corporation will sell 475.8m shares priced INR310 ($2.61) and INR326 ($2.74) each. At the top end, Tata Capital would be valued at about $16bn.
Kedaara Capital raises $300m continuation fund. ( Bloomberg)
Kedaara Capital has raised $300m for its first continuation vehicle, transferring partial stakes in Lenskart Solutions and Care Health Insurance to the new fund.
The Mumbai-based private equity firm manages more than $6bn in assets.
|
