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Top Highlights
Battery Ventures-backed VertiGIS, a provider of enterprise spatial asset management solutions, agreed to acquire 1Spatial, a software and solutions provider that focuses on managing, improving, and integrating spatial data, for £87.1m ($117m), according to press releases.
1Spatial is advised by Cavendish Corporate Finance (led by Jonny Franklin-Adams), Panmure Liberum (led by Bidhi Bhoma), Travers Smith and Alma Strategic Communications (led by Caroline Forde). Battery Ventures and VertiGIS are advised by Raymond James (led by Junya Iwamoto) and Latham & Watkins, according to press releases.
Energy Fuels, a producer of uranium, rare earth elements, and other critical materials, agreed to acquire Australian Strategic Materials, a producer of REE metals and alloys, for $299m, according to press releases.
Energy Fuels is advised by Goldman Sachs, Dentons, Dorsey & Whitney and Herbert Smith Freehills Kramer. Australian Strategic Materials is advised by Moelis & Co and A&O Shearman, according to press releases.
Jacmel Partners-backed Arora Engineers, a global infrastructure solutions firm, completed the acquisition of J.A. Watts, a Chicago-based program and construction management firm, according to press releases. Financial terms were not disclosed.
Jacmel Partners was advised by Willkie Farr & Gallagher (led by Mark Getachew and Emerson Girardeau) and AEC Advisors. Arora Engineers was advised by Willkie Farr & Gallagher. Debt financing was provided by Brightwood Capital Advisors. J.A. Watts was advised by Stout Capital and Huck Bouma, according to press releases and MergerLinks data.
Deal Round up
AMERICAS
Engie inks sector-first biomethane supply deal with PepsiCo UK. ( Reuters)
Cenovus considers selling some Alberta assets valued around CAD3bn. ( Reuters)
Berkshire may shed 27.5% Kraft Heinz stake. ( Reuters)
EMEA
Qiagen said to weigh strategic options amid fresh interest. ( Bloomberg)
Italy's GEDI enters exclusive talks with Gruppo SAE to sell La Stampa. ( Reuters)
Giant Kazakh field diverts oil to local market due to CPC bottlenecks. ( Reuters)
Tankmaker KNDS is said to pick banks for IPO in Frankfurt, Paris. ( Bloomberg)
French skincare firm L’Occitane is said to pick banks for US IPO. ( Bloomberg)
McLaren stake hints at broad remit for Abu Dhabi’s newest fund L’imad. ( Bloomberg)
APAC
Inspira Global to buy controlling stake in Burger King India operator RBA as Everstone exits. ( Reuters)
Platinum is said to mull sale of Hong Kong lingerie, swimwear firm Hop Lun. ( Bloomberg)
Chevron plans to finalise Singapore oil assets sale in Q1. ( Reuters)
Blackstone said to plan $500m India IPO for PGP Glass. ( Bloomberg)
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COMPANIES
INVESTORS
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AMERICAS
Highlander Partners, a Dallas-based private investment firm, completed the acquisition of a majority stake in Tapatio, a prominent American hot sauce brand. The Arnold Companies also invested a significant minority stake alongside Highlander Partners, and the Saavedra family will retain a minority stake in Tapatio, according to press releases. Financial terms were not disclosed.
Tapatio was advised by Stout Capital. Highlander Partners was advised by Katten Muchin Rosenman. Debt financing was provided by JP Morgan and NMP Capital, according to press releases.
Smithfield Foods, an American pork producer and food-processing company, offered to merge with Nathan's Famous, an American company operating a chain of fast-food restaurants, in a $450m deal, according to press releases.
Smithfield Foods is advised by Goldman Sachs and Hunton Andrews Kurth. Nathan's Famous is advised by Akerman and Jefferies & Company.
Kohlberg-backed Worldwide Clinical Trials, a mid-sized, global contract research organization providing full-service drug development solutions, agreed to acquire Catalyst Clinical Research, a global contract research organization providing specialized clinical trial solutions, from QHP Capital, a private equity firm, according to press releases. Financial terms were not disclosed.
Catalyst Clinical Research is advised by Bank of America and Smith Anderson. Worldwide Clinical Trials is advised by Greenberg Traurig, according to press releases.
Trinity Hunt Partners-backed Argano, a global digital services consultancy firm, completed the acquisition of Advantco International, a technology company that provides software integration products and consulting services, from Montage Partners, a people-first private equity firm, according to press releases. Financial terms were not disclosed.
Advantco International was advised by Envoy Capital Advisors and Holland & Knight. Argano was advised by Kirkland & Ellis, according to press releases.
Cordatus Capital, a private equity firm, and Red Dot Buildings, a provider of specializes in providing pre-engineered metal building systems and services, completed the acquisition of East Texas Architectural Sheetmetal, a company that manufactures metal building components, including purlins, roof and wall panels, and trim, according to press releases. Financial terms were not disclosed.
Cordatus Capital was advised by Foley & Lardner. East Texas Architectural Sheetmetal was advised by BoyarMiller, according to press releases.
BV Investment Partners, a private equity firm, completed the acquistion of the managed repair division of Alacrity Solutions, a North American provider of outsourced insurance services, according to press releases. Financial terms were not disclosed.
Alacrity Solutions was advised by Dentons and Evercore, according to press releases.
Prime Capital Financial, an independent financial services firm, completed the acquisition of Bradshaw Rogers Financial Partners, a planning-led wealth management firm, according to press releases. Financial terms were not disclosed.
Prime Capital Financial was advised by Gregory FCA. Bradshaw Rogers Financial Partners was advised by Alaris Acquisitions, according to press releases.
Main Post Partners, a private equity firm, completed the acquisition of HomeWell Care Services, a national franchise provider of in-home care for seniors and homebound individuals, according to press releases. Financial terms were not disclosed.
HomeWell Care was advised by Boxwood Partners. Main Post Partners was advised by Chris Tofalli Public Relations (led by Chris Tofalli), according to press releases.
Renovus Capital Partners-backed BlueRidge Life Sciences, a specialized consulting and services platform, completed the acquisition of Design Science, a specialized human factors engineering and user-interface design consultancy, according to press releases. Financial terms were not disclosed.
Renovus Capital Partners was advised by Gasthalter & Co (led by Mark Semer and Alex Jeffrey), according to press releases.
Avista Capital Partners-backed Taconic Biosciences, a biotechnology company specializing in genetically engineered mouse and rat models, completed the acquisition of TransCure bioServices, a provider of preclinical research services using humanized mouse models, according to press releases. Financial terms were not disclosed.
Taconic Biosciences was advised by ENTENTE Network of Companies (led by Katie Morris), according to press releases.
Brogent Technologies, an innovative company specializing in simulation-based entertainment, agreed to acquire Flyover, an immersive flying theater attraction brand, from Pursuit Attractions and Hospitality, a company that offers inspiring and unforgettable attraction and hospitality experiences in iconic places, according to press releases. Financial terms were not disclosed.
Flyover is advised by Jive PR + Digital (led by Jalila Singerff), according to press releases.
Engie inks sector-first biomethane supply deal with PepsiCo UK. ( Reuters)
Engie has secured a 10‑year agreement to supply biomethane to PepsiCo UK, marking the first biomethane deal between a producer and a food industry company in Britain.
PepsiCo UK will purchase 60 gigawatt hours of biomethane annually from Engie’s newly built anaerobic digestion plant in Northern England.
Cenovus considers selling some Alberta assets valued around CAD3bn. ( Reuters)
Cenovus Energy is considering a sale of its conventional oil and gas assets in the Deep Basin of Alberta as it seeks to reduce debt following its acquisition of MEG Energy.
The company has contacted potential buyers to assess interest in assets that could be valued at around CAD3bn ($2.17bn). The plans remain at an early stage, and Cenovus may choose to retain the assets.
Berkshire may shed 27.5% Kraft Heinz stake. ( Reuters)
Berkshire Hathaway may divest its 27.5% stake in Kraft Heinz, pointing to a possible exit from an investment it has held for more than a decade.
The potential transaction would involve 325.4m shares, a holding large enough to reshape Kraft Heinz’s shareholder base if sold.
EMEA
Elliott Investment Management, a private equity firm, completed the investment in Stratolaunch, a hypersonics technology accelerator with comprehensive testing capabilities, according to press releases. Financial terms were not disclosed.
Cerberus Capital was advised by Davis Polk & Wardwell. Elliott Investment Management was advised by Bank of America and Debevoise & Plimpton (led by Benjamin Collins-Wood and Kevin M. Schmidt). Stratolaunch was advised by Citigroup, according to press releases and MergerLinks data.
Citira, a circular tire management group, completed the acquisition of Tyrefix, a provider of plant tyre repair and replacement services in the UK, from Literacy Capital, a closed-end investment company, for £14.7m ($19.7m), according to press releases.
Literacy Capital was advised by Deutsche Numis (led by Hugh Jonathan) and MHP Group (led by Reg Hoare), according to press releases.
IK Partners, a private equity firm, completed the investment in Trustmoore, a global corporate services company providing legal and financial administration, according to press releases. Financial terms were not disclosed.
IK Partners was advised by Nomura, according to MergerLinks data.
Foxtons Group, a real estate agency, completed the acquisition of FleetMilne, a Birmingham-based letting agency and estate agent specializing in property investment and property management, according to press releases. Financial terms were not disclosed.
AE Industrial Partners-backed United Building Solutions, a provider of heating, ventilation, and air conditioning services across the United States, completed the acquisition of DFW Mechanical Group, a full-service commercial and industrial mechanical contractor serving clients across Texas, Oklahoma, Georgia, and Florida, according to press releases. Financial terms were not disclosed.
United Building Solutions was advised by Stanton PRM (led by Matthew Conroy), according to press releases.
Allworth Financial, a national full-service registered investment advisory firm, completed the acquisition of Grunden Financial Advisory, a company that offers wealth management, financial planning, and investment management services, according to press releases. Financial terms were not disclosed.
Grunden Financial Advisory was advised by Hue Partners, according to press releases.
Qiagen said to weigh strategic options amid fresh interest. ( Bloomberg)
Qiagen is evaluating strategic options, including a possible sale, following renewed takeover interest.
The molecular testing firm is working with advisers as its supervisory board reviews preliminary approaches. Qiagen has held discussions in recent weeks with several potential buyers, including US strategic firms.
Italy's GEDI enters exclusive talks with Gruppo SAE to sell La Stampa. ( Reuters)
Italian media group GEDI has entered into exclusive talks with regional publisher Gruppo SAE to sell the newspaper La Stampa.
In December 2025, GEDI, owned by Agnelli family holding company Exor, drew attention from the Italian government after announcing discussions with Greek media group Antenna regarding the sale of its Italian news operations, which include la Repubblica and a portfolio of radio broadcasters.
Giant Kazakh field diverts oil to local market due to CPC bottlenecks. ( Reuters)
Oil from Kazakhstan’s Kashagan field has been redirected to the domestic market for the first time due to bottlenecks at the Black Sea terminal that handles most of the country’s crude exports.
The Caspian Pipeline Consortium, which transports about 80% of Kazakhstan’s oil exports, reduced volumes after equipment at the Russian Black Sea terminal was damaged in drone attacks at the end of November 2025.
Tankmaker KNDS is said to pick banks for IPO in Frankfurt, Paris. ( Bloomberg)
KNDS has selected banks for an initial public offering as it moves ahead with plans to tap strong investor demand for defense stocks.
The Amsterdam‑based tankmaker has appointed Bank of America, Deutsche Bank, Goldman Sachs and Societe Generale as global coordinators for the offering. KNDS aims to list in Frankfurt and Paris as early as June or July. France’s government holds a significant stake in the company.
French skincare firm L’Occitane is said to pick banks for US IPO. ( Bloomberg)
L’Occitane Groupe, the skincare retailer taken private by owner Reinold Geiger in 2024, is considering an initial public offering in the US as early as this year.
The company is working with JP Morgan and Morgan Stanley on the potential listing.
McLaren stake hints at broad remit for Abu Dhabi’s newest fund L’imad. ( Bloomberg)
Abu Dhabi has moved the owner of McLaren Automotive and its stake in Chinese electric vehicle maker Nio Inc. under state‑owned L’imad Holding, expanding the remit of the emirate’s newest investment vehicle.
CYVN Holdings, a mobility‑focused investment firm owned by the government, has been transferred to L’imad as part of an effort to strengthen the entity and streamline the management of selected Abu Dhabi investments under a single structure.
APAC
Jardine Matheson, a multinational conglomerate, completed the acquisition of 11.96% stake in Mandarin Oriental, a multinational hospitality and management group, for $502m, according to press releases.
Mandarin Oriental was advised by Morgan Stanley and Brunswick Group (led by Tom Burns), according to press releases and MergerLinks data.
Inspira Global to buy controlling stake in Burger King India operator RBA as Everstone exits. ( Reuters)
Restaurant Brands Asia said on Tuesday that Inspira Global will invest up to INR34.2bn ($375.1m) for a controlling stake in the operator of Burger King India, as private equity firm Everstone exits its position.
The announcement comes as fast‑food chains face challenges in boosting sales in India, where they compete with price‑sensitive consumers and lower‑cost local rivals.
Platinum is said to mull sale of Hong Kong lingerie, swimwear firm Hop Lun. ( Bloomberg)
Platinum Equity is considering strategic options for lingerie and swimwear maker Hop Lun, including a potential sale.
The firm has held early discussions with prospective advisers to prepare for a possible transaction. Hong Kong‑based Hop Lun could be valued at up to $1bn.
Chevron plans to finalise Singapore oil assets sale in Q1. ( Reuters)
Chevron plans to finalize a deal in the first quarter to sell its oil refining and distribution assets in Singapore as it enters a final round of discussions with Eneos and Glencore.
The assets on offer include Chevron’s stake in a refinery, a terminal, and retail stations in Singapore. The company is also seeking to include retail stations in Cambodia and Malaysia in the transaction.
Blackstone said to plan $500m India IPO for PGP Glass. ( Bloomberg)
Blackstone is considering an initial public offering of Indian glass packaging maker PGP Glass in Mumbai that could raise up to $500m.
The firm is in discussions with banks regarding the proposed share sale and is seeking a valuation of up to $4bn.
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