Top Highlights
Blackstone Infrastructure, a US infrastructure investment manager, agreed to acquire Portland Natural Gas Transmission System, a US natural gas transmission pipeline operator, from Morgan Stanley Infrastructure Partners, a global private infrastructure equity investment platform, and Global Infrastructure Partners, an American infrastructure investment fund and a part of BlackRock, according to press releases. Financial terms were not disclosed.
Blackstone is advised by Guggenheim Partners, Bernstein Shur Sawyer & Nelson and Paul Weiss Rifkind Wharton & Garrison. Morgan Stanley Infrastructure Partners and Global Infrastructure Partners are advised by Citigroup, McLane Middleton, Pierce Atwood and Vinson & Elkins, according to press releases.
EP Group, a major European industrial conglomerate controlled by Czech billionaire Daniel Křetínský, completed the acquisition of an additional 40.9% stake in Fnac Darty, a European retailer specializing in household appliances, consumer electronics and cultural goods, for c. €424.6m ($475m). Vesa Equity Investment, an affiliate of EP Group, holds a 28.5% stake in Fnac Darty, according to press releases.
Fnac Darty was advised by Rothschild & Co, Bredin Prat and Ledouble (led by Agnes Piniot). EP Group was advised by BNP Paribas, Credit Agricole, Societe Generale and De Pardieu Brocas Maffe, according to press releases and MergerLinks data.
Archrock, a US-based energy infrastructure company, agreed to acquire HiVolt Energy, a US provider of prime power microgrid infrastructure, for up to $450m, according to press releases.
Archrock is advised by Evercore, Norton Rose Fulbright and Joele Frank (led by Jed Repko and Kara Grimaldi). HiVolt Energy is advised by Bank of America and Troutman Pepper Locke, according to press releases.
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AMERICAS
ARKO Petroleum, a wholesale fuel distributor in the US, completed the acquisition of US Petroleum Partners, a vertically integrated fuel supply and distribution platform, for $235m, according to press releases.
US Petroleum Partners was advised by Holland & Knight and Kilpatrick Townsend. ARKO Petroleum was advised by Raymond James, Greenberg Traurig and Schwarz and L’Altrelli (led by Julius Schwarz), according to press release and MergerLinks data.
Levine Leichtman Capital Partners, a global private equity firm, agreed to acquire Five Star Franchising, a home-services franchise platform, from Princeton Equity Group, a private equity firm, according to press releases. Financial terms were not disclosed.
Levine Leichtman Capital Partners is advised by Greenberg Traurig and Kirkland & Ellis. Five Star Franchising is advised by Robert W Baird and Akin Gump Strauss Hauer & Feld, according to press releases.
Diamondback Energy, an independent oil and natural gas company, and KKR, a major American global alternative asset management firm, agreed to acquire a 70% stake in Deep Blue Midland Basin, a US-based water infrastructure operator, from Five Point Infrastructure, a private equity and infrastructure investment firm, for c. $2.1bn. Upon completion, Diamondback and KKR will jointly own 100% of Deep Blue, with the acquisition building on Diamondback’s existing 30% ownership interest, according to press releases and MergerLinks data.
Wind Point Partners, an American private equity firm, completed the acquisition of CCS Facility Services, a provider of janitorial, facility engineering and building maintenance services, from Silver Oak, a lower middle market private equity firm, according to press releases. Financial terms were not disclosed.
CCS Facility Services and Silver Oak were advised by Harris Williams & Co and Troutman Pepper Locke. Silver Oak was advised by Chris Tofalli Public Relations (led by Chris Tofalli), according to press releases.
Thompson Street Capital Partners, a private equity firm, completed the investment in Kinneberg Management Group, a retail commerce enablement provider, according to press releases. Financial terms were not disclosed.
Thompson Street Capital Partners was advised by Kirkland & Ellis. Kinneberg Management Group was advised by Craig-Hallum Capital Group and Simon Counsel, according to press releases.
Marsh, a company that provides insurance brokering and risk management services for enterprises, agreed to acquire Wilshire, a global investment advisory, solutions and analytics firm, from CC Capital and Motive Partners, the private equity firms, according to press releases. Financial terms were not disclosed.
Mubadala Capital, the alternative asset management subsidiary of Mubadala Investment Company, agreed to invest in LSV Advisors, a New York-based special situations secondaries manager, according to press releases. Financial terms were not disclosed.
LSV Advisors is advised by Houlihan Lokey. Mubadala Capital is advised by Evercore, according to press releases.
AEA Investors, a private investment firm, completed the acquisition of TFS Global, an independent, nationwide provider of outsourced MHE fleet management solutions, from Southfield Capital, a private equity firm, according to press releases. Financial terms were not disclosed.
Southfield Capital and TFS were advised by Stifel and Finn Dixon & Herling, according to press releases.
DFW Capital Partners, a private equity firm, completed the acquisition of American Equipment Solutions, a full-service mission-critical material handling solutions provider, from Rotunda Capital Partners, a private equity firm, according to press releases. Financial terms were not disclosed. Financial terms were not disclosed.
Rotunda Capital Partners is advised by Lincoln International and Benesch Friedlander Coplan & Aronoff, according to press releases.
Oura, a health intelligence platform and maker of the world’s smallest smart ring, agreed to acquire Counsel Health, an AI-native primary care company, for $625m, according to press releases.
A consortium of investors, including Benchmark, Felicis Ventures, Fundomo, Apollo, G Squared, General Catalyst, Glade Brook Capital, NVIDIA, Salesforce, Sapphire Ventures, StepStone Group, XTX Ventures, and Zoom, participated in a $750m Series D funding round in Mercor, a US-based artificial intelligence company specialising in AI training and evaluation.
Georgian, a Canadian growth equity investment firm, led a $300m Series E funding round in Path Robotics, a US-based developer of AI-powered industrial robotics and manufacturing automation technology, with participation from Addition, Drive Capital, IronArc Ventures, Tiger Global, Yamaha Motor Ventures, D. E. Shaw Ventures and NAVER Ventures, according to press releases.
Clearlake said to weigh $3.5bn sale of packaging firm IPG. ( Bloomberg)
Clearlake Capital Group is exploring the sale of packaging company IPG in a transaction that could value the business at more than $3.5bn.
The private equity firm is working with advisers to identify potential buyers and has attracted interest from both private equity firms and strategic acquirers.
SEI and Carlyle advance strategic relationship with launch of SEI Carlyle Private Markets Fund. ( Press Release)
SEI and Carlyle have launched the SEI Carlyle Private Markets Fund, a closed-end interval fund providing US wealth investors access to private equity, secondaries, private credit, real estate and CLO investments through a single vehicle.
SEI will oversee portfolio construction, asset allocation and liquidity management, while Carlyle will manage underlying private market investments. The fund intends to offer limited quarterly share repurchases.
EMEA
Igneo Infrastructure Partners, a UK-based infrastructure investment manager, agreed to acquire Nowega, a German gas transmission system operator, from Erdgas Münster, a German gas infrastructure and service company, according to press releases. Financial terms were not disclosed.
Igneo Infrastructure Partners is advised by Gleiss Lutz (led by Cornelia Topf and Antonius Mann). Erdgas Münster is advised by ABN Amro, Case Cassiopea and White & Case, according to press releases and MergerLinks data.
HIG Capital, an alternative asset investment firm, agreed to acquire a majority stake in go asia, a German supermarket chain specializing in the retail sale of Asian groceries, according to press releases. Financial terms were not disclosed.
UK watchdog demands competition remedies in $65bn Unilever-McCormick food deal. ( Reuters)
The companies have until November 18 to propose remedies or face an in-depth investigation. Unilever is already exploring the sale of its Colman’s brand as part of efforts to address regulatory concerns.
EasyJet shareholders approve £5.7bn Apollo takeover. ( Reuters)
The deal is expected to close by the end of Q1 2027, taking easyJet private after more than 25 years on the London Stock Exchange. However, the acquisition still faces EU regulatory scrutiny over airline ownership rules.
Cinven weighs sale of UK wealth manager True Potential. ( Bloomberg)
Cinven is exploring a potential sale of UK wealth management firm True Potential in a transaction that could value the business at several billion pounds.
The private equity firm has held preliminary discussions with potential advisers, although the sale process remains at an early stage.
Royal Bank of Canada, a multinational financial services company, agreed to acquire Yarra Capital Management, an Australian investment management firm, from TA Associates, a private equity firm, and Amova Asset Management, a major global investment company, according to press releases. Financial terms were not disclosed.
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