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AMERICAS

Baker Tilly completes the merger with Moss Adams in a $7bn deal.

Baker Tilly, an advisory, tax and assurance firm, completed the merger with Moss Adams, an accounting, tax and consulting services provider, in a $7bn deal, according to press releases.

Moss Adams was advised by Deutsche Bank and Dechert (led by John LaRocca). Baker Tilly was advised by Simpson Thacher & Bartlett (led by Atif Azher) and Vedder Price. Debt provider was advised by Latham & Watkins (led by Paul Bonewitz), according to press releases and MergerLinks data.

First Reserve and Fortress Investment Group to acquire a majority stake in Island Energy Services from One Rock Capital Partners.

Private equity firms First Reserve and Fortress Investment Group agreed to acquire a majority stake in Island Energy Services, an industrial firm that specializes in rendering petroleum products and fuel marketing services to its clientele, from One Rock Capital Partners, a private equity firm, according to press releases. Financial terms were not disclosed.

Island Energy Services is advised by Evercore, Nomura, Latham & Watkins and Profile Advisors (led by Mike Geller). First Reserve is advised by Joele Frank (led by Jonathan Keehner), according to press releases and MergerLinks data.

Aveanna Healthcare completes the acquisition of Thrive Skilled Pediatric Care from Summit Partners.

Aveanna Healthcare, a diversified home care platform focused on providing care to medically complex, high-cost patient populations, completed the acquisition of Thrive Skilled Pediatric Care, a pediatric home care services provider, from Summit Partners, a private equity firm, according to press releases. Financial terms were not disclosed.

Thrive Skilled Pediatric Care was advised by Cantor Fitzgerald and Ropes & Gray (led by Timothy McCrystal, Thomas Fraser and Emily Karlberg). Aveanna Healthcare was advised by Edge Healthcare Partners, Bass Berry & Sims and Kekst CNC (led by Ross Lovern and Thomas J. Davies), according to press releases and MergerLinks data.

Integrum to invest in Stout.

Integrum, a private investment firm, agreed to invest in Stout, a global advisory firm, according to press releases. Financial terms were not disclosed.

Stout is advised by William Blair & Co, Ropes & Gray and Winston & Strawn. Integrum is advised by Simpson Thacher & Bartlett (led by Michael Chao and Marni Lerner). Debt providers are advised by Latham & Watkins (led by Stelios Saffos and Peter J. Sluka) according to press releases and MergerLinks data.

Thrust Capital-backed DCM completes the acquisition of Metcor.

Thrust Capital-backed DCM, a Canadian subcontractor specializing in aerostructure components, completed the acquisition of Metcor, a metal heat treatment services provider, according to press releases. Financial terms were not disclosed.

Metcor was advised by Raymond Chabot Grant Thornton and Bennett Jones. DCM was advised by Ernst & Young and Norton Rose Fulbright, according to press releases.

DispatchHealth completes the merger with Medically Home.

DispatchHealth, an urgent care center, completed the merger with Medically Home, a hospital in Boston, according to press releases. Financial terms were not disclosed.

Medically Home was advised by Cooley (led by Jeff Beuche). DispatchHealth was advised by MTS Health Partners, Polsinelli PC (led by Margaret Hillman) and Wilson Sonsini Goodrich & Rosati (led by Jason Breen and Matthew Dubofsky), according to press releases and MergerLinks data.

Haveli Investments to acquire Accommodations Plus International.

Haveli Investments, a technology-focused private equity firm, agreed to acquire Accommodations Plus International, a crew accommodations and travel technology solutions provider, according to press releases. Financial terms were not disclosed.

Accommodations Plus International is advised by Sidley Austin (led by Alexis A. Cooper and Roger Wilen). Haveli Investments is advised by JP Morgan, White & Case and Reevemark (led by Hugh Burns), according to press releases and MergerLinks data.

Quantum Health to acquire Embold Health.

Quantum Health, a consumer healthcare navigation and care coordination company, agreed to acquire Embold Health, a healthcare technology company, according to press releases. Financial terms were not disclosed.

Embold Health is advised by Raymond James and Mayer Brown. Quantum Health is advised by Kirkland & Ellis, according to press releases.

Roark completes the acquisition of Dave’s Hot Chicken.

Roark, an investment firm, completed the acquisition of Dave’s Hot Chicken, a fast casual restaurant chain, according to press releases. Financial terms were not disclosed.

Dave’s Hot Chicken was advised by North Point Advisors and Fika Collective (led by Joshua Levitt). Roark was advised by Paul Weiss Rifkind Wharton & Garrison (led by Jeffrey D. Marell), according to press releases and MergerLinks data.

McKesson completes the acquisition of a 70% stake in Community Oncology Revitalization Enterprise Ventures from Florida Cancer Specialists & Research Institute for $2.49bn.

McKesson, a company that distributes pharmaceuticals and provides health information technology, completed the acquisition of a 70% stake in Community Oncology Revitalization Enterprise Ventures, a business and administrative services organization, from Florida Cancer Specialists & Research Institute, an independent medical oncology practice, for $2.49bn, according to press releases.

Community Oncology Revitalization Enterprise Ventures was advised by Paul Weiss Rifkind Wharton & Garrison (led by Thomas V. de la Bastide III). McKesson was advised by Davis Polk & Wardwell (led by Alan F. Denenberg). Florida Cancer was advised by JP Morgan, according to press releases and MergerLinks data.

Mercer Advisors completes the acquisition of Full Sail Capital.

Mercer Advisors, a national Registered Investment Advisor, completed the acquisition of Full Sail Capital, a wealth management firm, according to press releases. Financial terms were not disclosed.

Full Sail Capital was advised by Hue Partners. Mercer Advisors was advised by StreetCred PR (led by Will Ruben), according to press releases.

ONEOK completes the acquisition of the remaining 49.9% stake in Delaware G&P from NGP XI Midstream for $940m.

ONEOK, an American oil and gas midstream operator, completed the acquisition of the remaining 49.9% stake in Delaware G&P, a company owning natural gas gathering and processing facilities in the Delaware Basin, from NGP XI Midstream, a holding company, for $940m, according to press releases.

EMEA

Franklin Templeton to acquire a majority stake in Apera Asset Management.

Franklin Templeton, a global investment management organisation, agreed to acquire a majority stake in Apera Asset Management, a pan-European mid-market private debt investor, according to press releases. Financial terms were not disclosed.

Apera is advised by Debevoise & Plimpton (led by Geoffrey P. Burgess) and Kepler Communications (led by Charlotte Balbirnie). Franklin Templeton is advised by Brunswick Group, according to press releases and MergerLinks data.

TPG Rise Climate to acquire a majority stake in Aurora Energy Research.

TPG Rise Climate, the climate investing platform of global alternative asset management firm TPG, agreed to acquire a majority stake in Aurora Energy Research, a global provider of power market forecasting and analytics for critical investment and financing decisions, according to press releases. Financial terms were not disclosed.

Aurora Energy Research, CGE Partners and 22C Capital are advised by Arma Partners. Aurora Energy Research is advised by Latham & Watkin (led by Paul Dolman). CGE Partners is advised by Greenbrook (led by James Madsen), according to press releases and MergerLinks data.

IRH to acquire a 56% stake in Alphamin Resources from Tremont for $367m.

IRH, a global mining company, agreed to acquire a 56% stake in Alphamin Resources, a mining and metals company engaged in the production and sale of tin concentrate, from Tremont, an investment holding company, for $367m, according to press releases.

Tremont is advised by Pangea Group (led by Pierre Joubert), according to press releases.

Brookfield plans $9.9bn AI data centre investment in Sweden. (DealStreetAsia)

Brookfield Asset Management is planning to invest up to SEK95bn ($9.9bn) to develop an artificial intelligence-focused data centre in Sweden.

The project, located in Strängnäs, west of Stockholm, is expected to generate over 1k permanent jobs and approximately 2k construction jobs over a 10-15 year period.

Hong Kong’s MTR shows interest in £4bn sale of Eversholt Rail. (Bloomberg)

Eversholt Rail, the UK rolling stock company owned by CK Infrastructure Holdings, has drawn early interest from potential buyers including Hong Kong-based railway operator MTR.

CKI is targeting a valuation of around £4bn ($5.4bn) for the business as suitors continue evaluating the opportunity.

Mitie in talks to acquire Marlowe. (Reuters)

UK outsourcing firm Mitie Group is in discussions to acquire smaller rival Marlowe, pushing Marlowe’s shares up 13%.

Mitie, which delivers services including security, cleaning, and engineering to both public and private sector clients, must make a formal offer or withdraw by July 2025 under UK takeover regulations.

Main shareholders of Wacker Neuson explore potential sale. (Bloomberg)

Major shareholders of Wacker Neuson are exploring a potential sale of the German construction equipment manufacturer.

Several top investors have engaged an adviser to assess interest in their stakes. Private equity firms are among the parties currently evaluating the company.

Reckitt explores new options to advance Air Wick unit sale. (Reuters)

Reckitt is considering alternative strategies to move forward with the sale of its Essential Home business, which includes Air Wick fresheners and Cillit Bang cleaners, after receiving bids below expectations.

The company remains committed to pursuing a sale, with private equity firm Advent still in discussions for the assets.

Mayfair explores options for Luxembourg-based property platform atHome. (Bloomberg)

Mayfair Equity Partners is weighing strategic options for atHome Group, a Luxembourg-based property classifieds platform, following inbound interest from potential investors.

The London-based private equity firm is nearing the appointment of a bank to support the review. A potential deal could value the business at several hundred million euros.

UniCredit withdraws request to suspend government terms on Banco BPM bid. (Reuters)

UniCredit has withdrawn its request for a court to suspend conditions imposed by the Italian government on its takeover bid for Banco BPM, in an effort to facilitate ongoing discussions with the Treasury.

Italy invoked its "golden powers" to set specific terms for the proposed acquisition, citing national security concerns. UniCredit has indicated the conditions are unworkable and may ultimately lead to abandoning the deal.

Stada in sale talks with two private equity firms, IPO also on table. (Reuters)

German pharmaceutical company Stada is in discussions with two private equity firms regarding a potential sale.

If the talks do not result in a transaction, owners Bain Capital and Cinven may pursue an initial public offering as early as October 2025.

Novo Banco shareholders clear path for potential €1bn IPO. (Bloomberg)

Shareholders of Novo Banco have approved measures required for a potential initial public offering of the Portuguese lender, which is majority-owned by US private equity firm Lone Star.

The agenda at the shareholder meeting included approving the admission of shares to trading and amending the bank’s articles of association. These steps serve as a condition precedent for the IPO, though their implementation remains subject to a final decision by the selling shareholders.

APAC

Sona Comstar completes the acquisition of the railways equipment division from Escorts Kubota for $190m.

Sona Comstar, a global provider of mobility technology solutions, completed the acquisition of the railways equipment division from Escorts Kubota, a supplier of critical components for railways, for $190m, according to press releases.

Sona Comstar was advised by Ernst & Young, KPMG and Shardul Amarchand Mangaldas & Co (led by Abhishek Guha). Escorts Kubota was advised by Mitsubishi UFJ Morgan Stanley Securities, according to press releases and MergerLinks data.

FAB, Barclays and Standard Chartered complete the $750m investment in Adani Airports. (DealStreetAsia)

First Abu Dhabi Bank, a financial services company, Barclays, a British universal bank, and Standard Chartered, a British multinational banking and financial services company, completed the $750m investment in Adani Airports, an airport operator, manager and developer, according to DealStreetAsia.

IOI Properties to acquire the remaining 50.1% stake in South Beach development from CDL for SGD834.2m.

IOI Properties, a Malaysian property developer, agreed to acquire the remaining 50.1% stake in South Beach joint venture from CDL, a Singaporean multinational real estate operating organization, for SGD834.2m ($648m), according to press releases.

Allegion completes the acquisition of Novas.

Allegion, a security and access solutions designer and manufacturer, completed the acquisition of Novas, an architectural door hardware provider, according to press releases. Financial terms were not disclosed.

Virgin Australia targets $443m IPO as Bain trims stake. (Bloomberg)

Virgin Australia, controlled by Bain Capital, is set to relist through an AUD685m ($443m) initial public offering, capitalizing on improving investor sentiment despite recent trade tensions.

Bain is offering a 30% stake in the airline at AUD2.90 ($1.93) per share. The pricing values Virgin at about seven times its projected earnings for the year ending June 2025, compared to Qantas Airways, which trades at roughly ten times expected earnings for the same period.

Miniso hires JP Morgan and UBS for Top Toy’s Hong Kong IPO. (Bloomberg)

Miniso Group has appointed JP Morgan and UBS to lead the planned initial public offering of its unit Top Toy in Hong Kong.

Ahead of the listing, Miniso is also seeking new investment in Top Toy from potential investors, including sovereign wealth funds.

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