Belden completes the acquisition of the RUCKUS Networks Business from Vistance Networks for $1.846bn.

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AMERICAS

Ecolab completes the acquisition of CoolIT Systems from KKR and Mubadala Investment for $4.75bn.

Ecolab, a company specializing in water, hygiene, and infection prevention solutions and services, completed the acquisition of CoolIT Systems, a company specializing in scalable liquid cooling solutions, from KKR, an investment firm, and Mubadala Investment, a sovereign investor managing a global portfolio, for $4.75bn, according to press releases.

CoolIT Systems was advised by Morgan Stanley (led by Christopher Khouri, Ben Teasdale, and William Dotson), Robert W Baird (led by Dale Rudow, Jon Fitzsimmons, Tom Lacy, Mike Lindemann, and Mike Barina), Bennett Jones (led by Colin Perry and John Mercury), and Kirkland & Ellis (led by Ben Hardison and John D. Pitts). Ecolab was advised by Citigroup (led by Sameer Singh and Eric Jetter) and Covington & Burling, according to press releases and MergerLinks data.

Presidio completes the acquisition of the Canyon Creek assets from Vortus Investments-led seller group for $83m.

Presidio, a yield-focused, differentiated oil and gas operator, completed the acquisition of the Canyon Creek assets from Vortus Investments-led seller group, for $83m, according to press releases.

Presidio was advised by Opportune, Latham & Watkins (led by Nick S. Dhesi, John Stavinoha, and Chris Heasley), and ICR Inc. Vortus Investments was advised by Akin Gump Strauss Hauer & Feld, Conner & Winters, and Holland & Knight, according to press releases and MergerLinks data.

Hitachi Rail completes the acquisition of Clever Devices.

Hitachi Rail, a rolling stock and railway signalling manufacturing company, completed the acquisition of Clever Devices, a provider of Intelligent Transportation Systems for transit agencies, according to press releases. Financial terms are not disclosed.

Clever Devices was advised by Fried Frank Harris Shriver & Jacobson (led by John M. Bibona). Hitachi Rail was advised by JP Morgan and Ropes & Gray (led by David Harris and Ariel Deckelbaum), according to MergerLinks data and press releases.

Bank7 to acquire a 71% stake in Century Financial Services Corporation.

Bank7, a banking organization focused on commercial and retail financial services, agreed to acquire a 71% stake in Century Financial Services Corporation, a New Mexico-based bank holding company for Century Bank, according to press releases. Financial terms were not disclosed.

Bank7 is advised by Keefe Bruyette & Woods and Nelson Mullins Riley & Scarborough, according to press releases.

Renk to acquire David Brown Defence from Stellex Capital Management.

Renk, a company specializing in propulsion and transmission technologies for military platforms, agreed to acquire David Brown Defence, a manufacturer of high‑precision gearboxes for naval and land defense applications, from Stellex Capital Management, a private equity firm, according to press releases. Financial terms were not disclosed.

ElevenLabs in talks on tender offer at $22bn valuation. (Bloomberg)

ElevenLabs has begun preliminary discussions with investors about a secondary share sale that would allow employees to cash out, potentially valuing the AI startup at around $22bn.

The tender offer, which could roughly double the company’s valuation since its February funding round, is expected to take place by September. They cautioned that the process remains early and could shift.

Lockheed seen as frontrunner to acquire Ultra Maritime in a $3.5bn deal. (FT)

Lockheed Martin has become the leading contender to acquire Advent‑owned naval technology firm Ultra Maritime in a deal valued at about $3.5bn, as defence companies pursue military‑tech assets amid conflicts stretching from Ukraine to Iran.

Lockheed has pulled ahead of other US and European strategic bidders for Ultra Maritime, a unit of Advent’s Cobham Ultra focused on anti‑submarine systems.

GFL Environmental weighs take‑private deal amid interest from buyout firms. (Bloomberg)

GFL Environmental is weighing a possible take‑private deal after attracting interest from buyout firms.

They said the North American waste‑management company has been consulting advisers in recent months after receiving early approaches from investment firms.

Jersey Mike’s, Cumberland Farms join expanding US IPO pipeline. (Bloomberg)

Blackstone‑backed Jersey Mike’s Subs and convenience‑store operator Cumberland Farms have filed for US IPOs, adding to the widening pipeline of new listings beyond the artificial‑intelligence sector.

Jersey Mike’s, based in Tinton Falls, New Jersey, reported 2025 revenue of $724m, up about 11% from $653m the prior year. The franchise model helped lift adjusted EBITDA to $339m last year from $263m a year earlier.

EG’s gas‑station operator Cumberland Farms files for US IPO. (Bloomberg)

Cumberland Farms, the gas‑station and convenience‑store operator, has filed for a US IPO, adding to a surge of new listings that has driven a record start to the year.

The Charlotte‑based company, which will be owned by parent EG Group, reported a net loss of $95m on nearly $4bn in revenue in the first quarter, compared with net income of $3m on $3.73bn in revenue a year earlier.

EMEA

IQM went public via a SPAC merger with RAAQ in a $1.8bn deal.

IQM, a specialist in full-stack superconducting quantum computers, went public via a SPAC merger with RAAQ, a special purpose acquisition company, in a $1.8bn deal, according to press releases.

IQM was advised by JP Morgan, Rothschild & Co (led by Marcel Gleichmann), TD Cowen, Borenius (led by Eino Järnroos and Juha Koponen), Cooley (led by Christopher Hutter), and Blueshirt Group. Financial advisors were advised by DLA Piper and Sullivan & Cromwell (led by Mario Schollmeyer and RuiHui (Rachel) Yu). RAAQ was advised by Cohen & Company Capital Markets, TD Cowen, Conyers Dill & Pearman, Krogerus, and Perkins Coie, according to press releases and MergerLinks data.

NNS Holding to acquire OCI Global in a €865m deal.

NNS Holding, the family office for Nassef Sawiris, offered to acquire OCI Global, a producer and distributor of hydrogen-based products, in a €865m ($990m) deal, according to press releases.

OCI Global is advised by AXECO Corporate Finance, Alvarez & Marsal, Rabobank, Rothschild & Co, A&O Shearman, De Brauw Blackstone Westbroek (led by Casper Nagtegaal), Freshfields and Wakkie+Perrick, according to MergerLinks data and press releases.

Kraken Robotics completes the acquisition of Covelya Group for $615m.

Kraken Robotics, a Canadian marine technology company specializing in high-resolution subsea imaging and power solutions for underwater applications, completed the acquisition of Covelya Group, an international provider of mission-critical underwater technology solutions, for $615m, according to press releases.

Kraken Robotics was advised by Desjardins, Scotiabank, and Gowling WLG. Financial advisors were advised by Goodmans. Covelya Group is advised by Piper Sandler and Osborne Clarke, according to press releases and MergerLinks data.

A.P. Moller to acquire Ocean Yield from KKR.

A.P. Moller, an investment company, agreed to acquire Ocean Yield, a ship leasing platform, from KKR, a global investment firm, according to press releases. Financial terms were not disclosed.

KKR is advised by Simpson Thacher & Bartlett (led by Jiaying Zhang), according to MergerLinks data.

Lone Star Funds to acquire Contitech from Continental for €4bn.

Lone Star Funds, a private equity firm, agreed to acquire Contitech, a company focused on industrial components including conveyor belts and air springs, from Continental, a global automotive and industrial manufacturing company, for €4bn, according to press releases.

Saipem–Subsea7 merger moves into a Phase 2 review. (Press Release)

The ACCC has determined that Saipem’s planned merger with Subsea7 could significantly reduce competition and will therefore undergo a full Phase 2 review.

Saipem is a global engineering and construction provider serving the oil and gas sector across offshore and onshore projects.

iCON Infrastructure set to acquire Northern Fiber in a lender‑driven rescue deal. (Bloomberg)

Lenders to Northern Fiber Holding, the distressed German fiber‑network operator once owned by UBS Asset Management, are close to sealing a sale of the business to iCON Infrastructure as they work to head off an insolvency.

All creditors — who together have extended over €300m in financing — must sign off on the transaction. Norddeutsche Landesbank Girozentrale had been the final holdout, resisting an extension of the standstill agreement that lapsed at the end of June.

Top investors oppose £5.7bn bid for DCC. (FT)

Major shareholders have come out against the £5.7bn ($7.6bn) takeover proposal for DCC, arguing the offer undervalues the FTSE 100 company’s long‑term growth potential.

KKR and Energy Capital Partners — part of Bridgepoint — recently raised their bid to £65.25 ($83) per share in cash plus £1.47 ($1.96) in dividends, but investors say the revised terms still fall short.

Next prepares takeover offer for Harvey Nichols. (Reuters)

British retailer Next is preparing a takeover bid for luxury department‑store chain Harvey Nichols.

Goldman leads first‑half M&A activity as EMEA dealmaking accelerates. (Reuters)

Goldman Sachs expanded its share of M&A advisory work across Europe, the Middle East and Africa in the first half of 2026, securing its largest market share in nearly ten years.

Regional dealmaking reached $676bn in the period — more than double 2025 levels and the highest in 19 years — supported by a more permissive regulatory environment.

Czech billionaire Strnad weighs buying a 14% stake in Pirelli. (Bloomberg)

Czech billionaire Michal Strnad is in discussions to acquire a minority stake in Pirelli from its largest shareholder, a move that could ease scrutiny over China’s influence at the Italian tiremaker.

Strnad is negotiating with Sinochem to buy a 14% holding in Pirelli, with approvals from Beijing among the potential obstacles.

Crédit Agricole lifts its Banco BPM stake to 29.3% amid heightened deal activity in Italy. (Bloomberg)

Crédit Agricole has lifted its holding in Banco BPM to 29.3%, strengthening its position in Italy’s financial sector amid a wave of deal activity.

APAC

BlueFive Capital led a $3bn funding round in Kling AI.

BlueFive Capital, an alternative investment firm, led a $3bn funding round in Kling AI, an AI-powered video generation company, with participation from CPE, Guofang Investment, Tencent, CITIC Securities, Alibaba, Tencent, and Baidu, according to press releases.

Blackstone, CVC and MUFG are among the investors considering a stake in Vietnam’s MoMo. (Reuters)

Blackstone, CVC Capital Partners and Japan’s MUFG are among the firms submitting bids for a stake in Vietnamese fintech company MoMo, as the company advances plans for a partial sale.

MacRitchie plans to sell up to $200m worth of shares in India’s PB Fintech. (Reuters)

MacRitchie Investments is looking to sell as much as $200m in shares of PB Fintech, the parent of Policybazaar and Paisabazaar.

Carlyle hires banks for $400m India IPO of its RCM business. (Bloomberg)

Carlyle has tapped JM Financial and Goldman Sachs to advise on a potential IPO of its India‑based healthcare revenue‑cycle management unit, Knack RCM.

Carlyle is weighing a share sale that could raise up to $400m, with a possible launch later this year or in early 2027. Additional banks may be brought in as the process advances.

Londian Wason files for a US IPO. (Reuters)

Chinese copper‑foil producer Londian Wason New Energy Tech filed for a US IPO, aiming to tap rising demand from electric‑vehicle manufacturers.

The US new‑issue market is rebounding toward deal sizes last seen five years ago, with companies taking advantage of strong equity conditions as investors work through a busy slate of closely watched offerings.

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