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
Lone Star, a private equity firm, completed the acquisition of commercial and residential fire business from Carrier, an intelligent climate and energy solutions provider, for $3bn.
Summit Midstream, a growth-oriented limited partnership focused on owning and operating midstream energy infrastructure, completed the acquisition of Tall Oak Midstream, a large-scale gas gathering and processing system, from Tailwater Capital, a growth-oriented energy private equity firm, for $155m.
Summit Midstream was advised by Guggenheim Partners and Locke Lord. Guggenheim Partners was advised by Gibson Dunn & Crutcher. Tailwater Capital was advised by TPH&Co, Kirkland & Ellis and Joele Frank (led by Jonathan Keehner).
Astorg, a private equity firm with an extensive and successful track record in global healthcare investments, completed the acquisition of the IVF/ART product lines of Cook Medical, a family-owned medical device company. Financial terms were not disclosed.
Astorg was advised by Jefferies & Company, Stikeman Elliott, Weil Gotshal and Manges, Prosek Partners and Steele and Holt. Cook Medical was advised by JP Morgan.
CCMP Growth Advisors, a growth-oriented middle-market private equity firm, completed the acquisition of Combined Caterers, a premium event management and catering services provider. Financial terms were not disclosed.
Combined Caterers was advised by William Blair & Co and McGuireWoods. CCMP was advised by Piper Sandler, Stifel, Ropes & Gray and FGS Global.
Private equity firms Blackstone and Greater Sum Ventures completed an investment in Inhabit, a property management software solutions provider. Financial terms were not disclosed.
Inhabit was advised by Goldman Sachs and Jefferies & Company. Blackstone was advised by Guggenheim Partners and Weil Gotshal and Manges (led by Christopher Machera and Jenna McBain). Greater Sum Ventures was advised by Paul Weiss Rifkind Wharton & Garrison (led by Edward Ackerman and Megan Spelman).
Private equity firms Mubadala Investment Company, Norwest and HarbourVest, agreed to acquire a minority stake in Zelis, a provider of healthcare technology solutions, from private equity firms Parthenon and Bain Capital. Financial terms were not disclosed.
Zelis is advised by Goldman Sachs, JP Morgan and Kirkland & Ellis. Mubadala is advised by Evercore and Akin Gump Strauss Hauer & Feld.
SK Capital, a private investment firm, completed the acquisition of Spectra Confectionery, a Canadian decorative toppings and confectionary products manufacturer. Financial terms were not disclosed.
Spectra Confectionery was advised by Coldwater Corporate Finance. SK Capital was advised by Cascadia Capital and BackBay Communications (led by Jeremy Milner). Debt financing was provided by MidStar Capital and Stellus Capital Management.
KKR completed the acquisition of a 50% stake in FGS Global, a strategic communications and public relations firm, from WPP, a British multinational advertising and public relations company, for $1.7bn.
VSE, a provider of aftermarket distribution and repair services, completed the acquisition of Kellstrom Aerospace, a full-service aftermarket solutions provider of value-added distribution and technical services for the commercial aerospace engine aftermarket, from AE Industrial Partners, a private equity firm. Financial terms were not disclosed.
Kellstrom Aerospace was advised by Perella Weinberg Partners and Kirkland & Ellis. VSE was advised by Jefferies & Company and Jones Day (led by Lorne Cantor, Luis Velez and Joel May).
OMERS, a Canadian private equity firm, agreed to acquire Integris, a managed IT services provider, from Frontenac, a Chicago-based private equity firm. Financial terms were not disclosed.
Integris is advised by DLA Piper and Robert W Baird. OMERS is advised by Cravath Swaine & Moore.
Private equity companies Frazier Life Sciences and Deep Track Capital, led a $115m Series D funding in Maze Therapeutics, a clinical-stage biopharmaceutical company, with participation from Janus Henderson Investors, Logos Capital, Third Rock Ventures, ARCH Venture Partners, Matrix Capital Management, GV, General Catalyst, Andreessen Horowitz, Foresite Capital, Woodline Partners, Casdin Capital, Piper Heartland Healthcare Capital, Moore Strategic Ventures.
Maze Therapeutics was advised by JP Morgan and 1AB (led by Dan Budwick).
Align Capital Partners, a private equity firm, agreed to acquire MKB Company, a manufacturer of erosion control, pollution prevention and stormwater management. Financial terms were not disclosed.
Align Capital is advised by McCarthy Lebit Crystal & Liffman. MKB Company is advised by Calfee Halter & Griswold.
Berkshire Partners, a private equity firm, completed an investment in RJW Logistics, a provider of retail logistics solutions for consumer packaged goods brands. Financial terms were not disclosed.
RJW Logistics was advised by Harris Williams & Co. Berkshire Partners was advised by Jefferies & Company.
TPG, a private equity firm, led a $2bn investment in Veeam, an IT services firm, with participation from Temasek and Neuberger Berman.
Veeam is advised by Morgan Stanley and Willkie Farr & Gallagher.
Pacolet Milliken, a sustainability-focused family-owned investment firm, completed the acquisition of Anderson Wind Farm, a wind farm, from Goldman Sachs Asset Management, a private equity firm. Financial terms were not disclosed.
Pacolet Milliken was advised by Vinson & Elkins.
KPS Capital Partners, an American private equity firm, agreed to acquire Crane Composites, a fiberglass reinforced plastic composites designer and manufacturer, from Crane, an American industrial products company, for $227m.
KPS Capital Partners is advised by Paul Weiss Rifkind Wharton & Garrison.
Private equity firms Future Positive and Lowercarbon Capital led a $150m Series B round in Heirloom, a direct air capture company, with participation from Japan Airlines, Mitsubishi Corporation, Mitsui, MOL Switch, Quantum Innovation Fund, Siemens Financial, Ahren Innovation Capital, Breakthrough Energy Ventures, Carbon Direct Capital and MCJ Collective.
Heirloom was advised by JP Morgan.
Insight Partners, a private equity firm, led a $106m Series C round in Cleerly, an AI-enabled digital care platform, with participation from Battery Ventures, a private equity firm.
Insight Partners was advised by Willkie Farr & Gallagher (led by Matthew Haddad).
Mubadala Capital, an alternative asset management subsidiary of Mubadala Investment Company, agreed to acquire a 42% stake in Silver Rock, a credit-focused asset management firm. Financial terms were not disclosed.
Trinity Investments shows interest in acquiring Sunstone REIT. ( Bloomberg)
Trinity Investments has shown interest in acquiring Sunstone Hotel Investors.
The firm reportedly considered offering approximately $13 per share for Sunstone, based in Aliso Viejo, California. However, the companies are not currently engaged in active discussions.
Historically, Trinity Investments has worked with Gibson, Dunn & Crutcher and JLL Corporate Finance, according to MergerLinks data.
Real Estate firm Proprium Capital Partners explores a sale. ( Bloomberg)
Proprium Capital Partners, a real estate investment firm managing over $4bn in assets, is evaluating strategic options, including a potential sale.
The firm has engaged an adviser to reach out to prospective buyers. No final decisions have been made regarding the structure of any transaction, and Proprium may ultimately decide against pursuing a deal.
Carlyle-backed Abingworth launches $1.5bn clinical trials fund. ( FT)
Carlyle-backed investor Abingworth is tapping investors for a fund worth up to $1.5bn to bankroll clinical trials, as it pioneers partnerships with big pharmaceutical companies for a share of royalties from new drugs.
The UK-based life sciences investor is planning to finance as many as eight late-stage trials with the new fund. Carlyle, the private equity group which bought Abingworth in 2022, will also invest in the fund as a limited partner.
The fundraising effort comes after Abingworth signed two royalty deals with large pharmaceutical and biotech companies earlier this year, and as the fund plans to return around $500mn to investors in a year in which the biotech venture capital sector has struggled. The latest fund is likely to close by the first half of next year.
EMEA
CVC Capital Partners, a Luxembourg-based private equity and investment advisory firm, completed the acquisition of Therakos business of Mallinckrodt, a global specialty pharmaceutical company, for $925m.
One Rock Capital, a private equity firm, completed the acquisition of Europe Snacks, a private label manufacturer of savory snacks for the European market. Financial terms were not disclosed.
One Rock Capital was advised by Natixis Partners, Spayne Lindsay & Co, Latham & Watkins (led by Gaetan Gianasso and Simon Lange) and Prosek Partners. Debt financing was provided by Barclays, Goldman Sachs, Natixis Partners, Rabobank, Raiffeisen and Santander.
KPS Capital, a private equity firm, agreed to acquire the composites business of INEOS, a British multinational conglomerate, for €1.7bn ($1.8bn).
KPS Capital is advised by Paul Weiss Rifkind Wharton & Garrison (led by Angelo Bonvino, William Aitken-Davies and Rohan Dey). Debt financing is provided by Barclays, Citigroup, Goldman Sachs, Intesa SanPaolo and MUFG Bank. INEOS is advised by Piper Sandler and Slaughter & May.
KKR, a global investment firm, and Baupost, a hedge fund agreed to acquire 33 Marriott international hotels in the UK from Abu Dhabi Investment Authority, a sovereign wealth fund. Financial terms were not disclosed.
KKR is advised by DLA Piper, Ropes & Gray and Simpson Thacher & Barlett. Abu Dhabi Investment Authority is advised by Hamilton Pyramid, Eastdil Secured and Burges Salmon. Debt financing is provided by Eastdil Secured and KKR Capital Markets.
Thoma Bravo, a software investment firm, completed the acquisition of a majority stake in USU Product, a provider of software and service solutions for IT and customer-service management. Financial terms were not disclosed.
Thoma Bravo was advised by Raymond James, Kirkland & Ellis and FGS Global (led by Liz Micci). USU Product was advised by RSM International, Guggenheim Partners and Heuking Kuhn Luer Wojtek. Debt financing was provided by HSBC and Morgan Stanley.
Intermediate Capital Group, a private equity firm, agreed to acquire a minority stake in Lomond, a real estate services provider. Financial terms were not disclosed.
Lomond is advised by Clearwater and Womble Bond Dickinson. ICG is advised by LEK Consulting, DC Advisory, Deloitte, Paul Weiss Rifkind Wharton & Garrison and Proskauer Rose.
US private equity firm General Atlantic has reached an agreement to acquire Learning Technologies Group for £802.4m ($1bn). The investment reflects a bet on growing corporate training needs as businesses adapt to the rise of artificial intelligence.
LTG, known for offering corporate training solutions such as mobile apps and training videos, has faced challenges due to the swift advancement of generative AI and a shift among companies toward reducing costs by moving away from custom content creation.
Gersh, a global entertainment and sports agency, completed the acquisition of You First, a Spanish sports and entertainment agency. Financial terms were not disclosed.
You First was advised by Clearwater, CMS and Main Legal. Gersh was advised by Houlihan Lokey. Crestview Partners was advised by Davis Polk & Wardwell.
EQT, a Swedish private equity firm, agreed to acquire ju:niz Energy, a German advanced large-scale battery storage systems developer and operator. Financial terms were not disclosed.
EQT is advised by UBS, Gibson Dunn & Crutcher, Norton Rose Fulbright and McKinsey & Company.
Eternis, a wholly-owned family business active in the fragrance and flavour industry, completed the acquisition of Sharon Personal Care, a global supplier of innovative ingredient solutions for a broad range of personal care products, from Tene Investment Funds, a private equity firm. Financial terms were not disclosed.
Sharon Personal Care was advised by Jefferies & Company. Tene Investment Funds was advised by KPMG and Erdinast Ben Nathan Toledano & Co.
WAI Global, a distributor of starter motors and alternators, completed the acquisition of a majority stake in Pos Service Holland, a distribution of starter motors and alternators, from Nordian Capital Partners, a private equity firm. Financial terms were not disclosed.
Pos Service Holland was advised by Jefferies & Company. WAI Global was advised by OXEYE Advisors and Stibbe (led by Marc Habermehl and Rein van Helden).
Argos Wityu, an independent pan-European investment group, completed the acquisition of Monviso, a premium Italian dry bakery manufacturer, from private equity firms Cerea Partners and CAPZA. Financial terms were not disclosed.
Monviso was advised by DC Advisory. Debt financing was provided by Kartesia.
GoldenTree Asset Management, a private equity firm, completed the acquisition of abrdn Property Holdings, a 39 asset portfolio of Abrdn Property Income Trust, a real estate investment firm, for £351m ($446m).
Abrdn was advised by Winterflood Securities.
Derwent London, a British-based property investment and development business, completed the acquisition of the remaining 50% stake in Baker Street W1 scheme, from Lazari Investments, a property investmen t company in London, for £44.4m ($56m).
Derwent London was advised by Brunswick Group.
IRIS Software Group, a global provider of accountancy, education management, HR and payroll solutions, agreed to acquire Dext, a bookkeeping automation platform provider, from Hg Capital, a private equity firm. Financial terms were not disclosed.
Hg Capital is advised by Cadarn Capital (led by David Harris).
Partners Group, a private equity firm, agreed to acquire Empira Group, a premier real estate investment platform. Financial terms were not disclosed.
The government of Denmark is set to acquire an additional 59.4% stake in Copenhagen Airports, the international airport serving Copenhagen, for DKK32bn ($4.53bn).
EQT, a private equity firm investing in healthcare, consumer goods, industrial, energy, and environmental industries, and GIC, a sovereign wealth fund established by the Government of Singapore, agreed to acquire a majority stake in Calisen, an owner and manager of essential energy infrastructure assets, from Global Infrastructure Partners, an infrastructure investment fund, Goldman Sachs Alternatives, a private equity firm, and Mubadala, an Abu Dhabi's sovereign wealth fund. Financial terms were not disclosed.
Qatar Investment Authority, the sovereign wealth fund of the State of Qatar, agreed to invest in Sauber, a Swiss motorsport engineering company. Financial terms were not disclosed.
Aldebaran, a French institutional investment fund, completed the acquisition of PAM Building, a manufacturer of sanitary and rainwater drainage solutions for buildings, from Saint-Gobain, a company designs, manufactures and distributes materials and services for the construction and industrial markets. Financial terms were not disclosed.
Insight Partners, a global software investor, completed an investment in Cosmo Tech, a provider of AI Simulation software for enterprise decision making. Financial terms were not disclosed.
Total nearing €2bn acquisition of renewables developer VSB. ( Bloomberg)
French oil major TotalEnergies is reportedly nearing a deal to acquire VSB Group, a vertically integrated renewable energy developer, from private equity firm Partners Group for approximately €2bn ($2.1bn).
Historically, TotalEnergies has worked with Ernst & Young, Citigroup, Latham & Watkins and White & Case, according to MergerLinks data.
Amundi interested in buying Allianz Global Investors. ( Bloomberg)
Amundi, Europe’s largest asset manager, is exploring a potential acquisition of Allianz Global Investors as part of its strategy to pursue deals amid ongoing industry consolidation.
The French firm has been engaged in intermittent discussions with Allianz over several months, considering options such as a full takeover or a partnership that would allow Allianz to retain a significant stake in AGI.
Historically, Amundi has worked with Credit Agricole, Eight Advisory, De Pardieu Brocas Maffei and Allen & Overy, according to MergerLinks data.
Growth of player power spurs four-way football agency merger. ( FT)
Nomi Sports, Position Number and Promoesport are set to merge to establish new football agency called As1. Bruin Capital will also acquire Football Division Worldwide to add a fourth to the new entity.
Headquartered in London and valued at $310m As1 will manage around 300 players, including high-profile athletes. The agency operates under the Legion Sports holding company, which is exclusively backed by private equity firm TJC and managed by Bruin Capital.
Worldline garners preliminary interest from private equity firms. ( Reuters)
French payments group Worldline has attracted early-stage takeover interest from private equity firms as it navigates challenges including a declining share price, profit warnings, and leadership changes.
Among the firms showing initial interest is Bain Capital, which is reportedly evaluating a potential bid for the company.
Historically, Worldline has worked with Morgan Stanley, BNP Paribas, Cleary Gottlieb Steen & Hamilton and Latham & Watkins, according to MergerLinks data.
Blue Earth Capital hits $1bn AuM with Credit Strategies fund surpassing $100m target. ( Press Release)
Blue Earth Capital, a global impact investment specialist, has successfully closed its credit impact fund, BlueEarth Credit Strategies II, exceeding its target with $108m.
This milestone pushes BlueEarth’s total assets under management to over $1bn across private credit, private equity, and co-investment strategies.
APAC
CBC Group, Asia’s largest healthcare-dedicated asset management group, and Mubadala, the Abu Dhabi based investment company, completed the acquisition of the Chinese neurology and allergy business of UCB, a multinational biopharmaceutical company, for $680m.
Mubadala was advised by PJT Partners, Clifford Chance and FGS Global. CBC Group was advised by PJT Partners and Clifford Chance. UCB Pharma was advised by Lazard and Freshfields Bruckhaus Deringer.
Vector Capital, a private equity firm focused on transformational investments in established technology businesses, agreed to acquire Bigtincan, a sales enablement software and AI solutions provider, for AUD183m ($118m).
Bigtincan is advised by Gilbert + Tobin. Vector Capital is advised by Alvarez & Marsal, Johnson Winter Slattery, Sidley Austin, Deloitte and Gasthalter & Co (led by Grace Cartwright).
A consortium of investors led by led by Starwood Capital Group, Sixth Street, QIA and SSW Partners, agreed to acquire ESR Group, a real estate services and investment company, for $7bn.
ESR Group is advised by Citigroup. The consortium of investors are advised by Deutsche Bank, Goldman Sachs, Morgan Stanley and UBS.
HMC Capital, an Australian alternative asset manager, agreed to acquire Victorian portfolio of Neoen, a French solar power plants, onshore wind farms and energy storage solutions provider, for AUD950m ($616m).
Neoen is advised by Havas and OPRG Financial (led by Fabrice Baron).
FountainVest, a private equity firm that seeks to invest in companies operating in the consumer retail, media, internet, healthcare and advanced industrial sectors, and Unison, a private equity firm specializing in buyout investments, spin-offs of business units by large corporations, completed the acquisition of Tasaki, a manufacturer and distributor of luxury jewelry, for $660m.
Pacific Equity, a private equity firm, agreed to acquire Freight Management, a diversified logistics holding company, from Singapore Post, a postal and e-commerce logistics provider company, for $650m.
Bain Capital, a private investment firm, agreed to invest $157m in Mayapada Hospital, an Indonesian private hospital.
TPG on verge of buying controlling stake in Asian flower business Hasfarm. ( Bloomberg)
TPG is in advanced talks to acquire a controlling stake in Asian floricultural business Hasfarm, in a deal that could value the company at $500m.
The transaction would involve stakes held by Lombard Investments, which owns 25%, along with other shareholders, including Chairman Charles Target and Indonesian businessman Ibrahim Hasan’s family.
HKBN confirms takeover interest from I Square Capital. (Press Release)
Hong Kong-listed broadband provider HKBN has received a preliminary, non-binding takeover proposal from I Squared Capital. The global infrastructure investment firm has suggested acquiring all outstanding HKBN shares through its portfolio company, HGC Global Communications.
Negotiations are ongoing, with discussions focusing on terms and pricing. Trading in HKBN shares is scheduled to resume on December 3.
Historically, I Squared Capital has worked with Goldman Sachs, Barclays, Gibson Dunn & Crutcher and Linklaters, according to MergerLinks data.
FineToday delays IPO due to market conditions. ( Bloomberg)
Japanese personal-care firm FineToday, backed by CVC Capital, has postponed its planned December 17 listing on the Tokyo Stock Exchange Prime Market, citing unfavorable market conditions.
Initially expected to be valued at JPY219.4bn ($1.5bn), the company had planned to finalize its price range and offering price in early December.
Warburg-backed BW Industrial is pursuing future Vietnam IPO. ( Bloomberg)
BW Industrial Development, a prominent logistics and industrial real estate developer in Vietnam, backed by Warburg Pincus, is moving forward with plans for an initial public offering in the country.
The COO of BW, founded in 2018 as a partnership between Warburg Pincus and Vietnam’s state-owned enterprise Becamex IDC, has confirmed the IPO intentions. However, the details about the size and timeline remain undisclosed.
EQT bullish on investments, buyouts in India after exceeding target. ( DealStreetAsia)
Sweden’s private equity firm EQT has exceeded its targeted $5bn investment in India over the past few years, according to the head of its Asian business on December 5. The firm is focusing on buyouts and investments in India, where it continues to see robust deal activity and significant opportunities for international investors.
“We believe India is still an extremely attractive investment destination for international investors like us,” Jean Eric Salata, EQT Asia CEO and Chair.
Nuveen makes $257m first close of Australian real estate debt strategy. ( DealStreetAsia)
Nuveen, a property investment manager, has raised over AUD400m ($257m) in the initial close of its inaugural commingled Australian commercial real estate debt strategy.
The first round of funding received commitments from the US-based Teachers Insurance and Annuity Association of America and Singapore's state investor, Temasek.
Historically, Nuveen has worked with Citigroup, Evercore, Latham & Watkins and Cooley, according to MergerLinks data.
|
