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Top Highlights
Blackstone, a private equity firm, agreed to acquire a majority stake in Citrin Cooperman, a tax, advisory and accounting provider, from New Mountain Capital, an investment firm. Financial terms were not disclosed.
Citrin Cooperman is advised by Guggenheim Partners, Koltin Consulting Group, Hunton Andrews Kurth, Simpson Thacher & Bartlett (led by Ben Schaye) and Zukerman Gore Brandeis & Crossman. Blackstone is advised by Deutsche Bank, Gibson Dunn & Crutcher and Kirkland & Ellis (led by Lauren Colasacco). New Mountain Capital is advised by Guggenheim Partners, Koltin Consulting Group, Hunton Andrews Kurth, Simpson Thacher & Bartlett (led by Ben Schaye) and Zukerman Gore Brandeis & Crossman.
Advent International, a private equity firm, and Abu Dhabi Investment Authority, an investment company, completed the $3bn investment in Fisher Investments, an independent money management firm.
Wonder, a food delivery company, completed the acquisition of Grubhub, a food ordering and delivery platform, from Just Eat Takeaway, a global online food delivery marketplace, for $650m.
Deal Round up
AMERICAS
EMEA
Italy's Banco BPM files antitrust complaint over UniCredit bid. ( Reuters)
Turkish regulator to discuss Stellantis deal on local unit. ( Bloomberg)
JP Morgan sounds out investors for Everton FC stadium financing. ( Bloomberg)
HBX Group poised to launch around $1bn IPO in coming weeks. ( Reuters)
Medical tech firm Brainlab to seek pitches for German IPO. ( Bloomberg)
APAC
Japan flags foreign takeover of 7-Eleven owner as a security issue. (Reuters)
Transformers toymaker Bloks raises $215m in Hong Kong IPO. ( Bloomberg)
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AMERICAS
Synopsys responded to the UK Competition and Markets Authority provisionally accepting its proposed Phase 1 remedies for its planned acquisition of Ansys.
The company expressed satisfaction with the CMA's decision to provisionally approve the remedies, avoiding a Phase 2 review and stated it will continue its constructive collaboration with the CMA.
ACON Investments, a private equity investment firm, completed the acquisition of a controlling stake in True Religion, a lifestyle, apparel and accessories brand. Financial terms were not disclosed.
True Religion was advised by Robert W Baird, Akin Gump Strauss Hauer & Feld and Berns Communications Group (led by Michael J. McMullan). ACON was advised by Hogan Lovells and Pillsbury Winthrop Shaw Pittman. Debt financing was provided by Alpha Wave Global, Sagard Credit Partners and Second Avenue Capital Partners.
Flowers Foods, a producer of packaged bakery foods, agreed to acquire Simple Mills, a natural brand offering premium better-for-you crackers, cookies, snack bars, and baking mixes, for $795m.
Simple Mills is advised by Centerview Partners, Piper Sandler and Ropes & Gray (led by Jackie Cohen and Stephanie Lapidus). Flowers Foods is advised by RBC Capital Markets and Jones Day (led by William Zawrotny). Debt financing is provided by Royal Bank Of Canada.
Golub Capital, a private equity firm, completed the acquisition of a minority stake in Nassau Financial, a provider of fixed annuities and asset management, for $200m.
Nassau was advised by Goldman Sachs, Sidley Austin and FGS Global (led by David Isaacs). Golub Capital was advised by Morgan Stanley, Foley Hoag and Kirkland & Ellis.
General Catalyst-backed Transcarent, a health and care experience company, agreed to acquire Accolade, an innovative healthcare company, for $621m.
Transcarent is advised by Evercore and Wilson Sonsini Goodrich & Rosati. Accolade is advised by Morgan Stanley and Cooley. Debt financing is provided by 62 Ventures.
NW Natural, a distribution company that currently provides natural gas service, completed the acquisition SiEnergy, a provider of premium natural gas services, from Ridgewood Infrastructure, a private equity firm, for $425m.
SiEnergy was advised by RBC Capital Markets. NW Natural was advised by JP Morgan and Stoel Rives. Debt financing was provided by JP Morgan.
Cintas, a provider of a range of products and services to businesses including uniforms, offered to acquire UniFirst, a uniform rental company, for $5.3bn.
GTCR, a private equity firm, completed the acquisition of Concord Servicing, a provider of software and administration services for specialized loan servicing. Financial terms were not disclosed.
Concord Servicing was advised by Aeris Partners. GTCR was advised by Robert W Baird and Kirkland & Ellis.
PSG, a growth equity firm, agreed to invest in CourseKey, a student success platform purpose-built for vocational education. Financial terms were not disclosed.
PSG is advised by Weil Gotshal and Manges (led by David Gail).
Idaho Trust, a provider of trust and wealth management services in Idaho, agreed to acquire the trust and wealth management division of Bank of Idaho, a provider of a variety of banking and other financial services. Financial terms were not disclosed.
Idaho Trust is advised by Hawley Troxell. Bank of Idaho is advised by MJC Partners and Otteson Shapiro.
e2p-backed MBC Companies, a diversified frozen breakfast company, agreed to acquire Nardone Brothers Baking, a manufacturer of frozen pizza products. Financial terms were not disclosed.
MBC Companies is advised by The Melville Group (led by Carl Melville).
MetLife Investment Management, an institutional asset management business of MetLife, agreed to acquire three investment teams and assets from Mesirow, an independent, employee-owned financial services firm. Financial terms were not disclosed.
MetLife Investment Management is advised by Third Street Partners.
Intercontinental Exchange, a global provider of technology and data, completed the acquisition of American Financial Exchange, an electronic exchange for direct lending and borrowing for American banks and financial institutions, from 7RIDGE, a private equity firm. Financial terms were not disclosed.
Amazon Web Services has announced plans to invest $11bn in Georgia to expand its cloud computing and AI infrastructure marking a significant boost to Georgia’s growing reputation as a technology hub.
The investment builds on AWS's history in Georgia, where Amazon has contributed $20.1bn to the state's GDP and supported tens of thousands of direct and indirect jobs since 2010.
EMEA
MML Growth Capital-backed Mail Metrics, a rapidly growing customer communications technology provider serving financial and regulated industries, completed the acquisition of Adare SEC, a provider of multi-channel customer communications services. Financial terms were not disclosed.
Adare SEC was advised by Ernst & Young and Pinsent Masons. Mail Metrics was advised by Clearwater. Debt financing was provided by AIB Corporate Finance and Bank of Ireland.
Lovell Minnick Partners, a private equity firm, agreed to invest in Broadstone, independent UK financial services consultancy. Financial terms were not disclosed.
Sumitomo Rubber Industries, a rubber product manufacturing company, agreed to acquire Dunlop, a brand of tire, from The Goodyear Tire & Rubber Company, a tire manufacturing company, for $701m.
Goodyear is advised by Barclays, Goldman Sachs and Cleary Gottlieb Steen & Hamilton.
EP Wealth Advisors, a fee-only registered investment adviser, completed the acquisition of Executive Wealth Management, a financial planner. Financial terms were not disclosed.
EP Wealth Advisors was advised by Wealth Partners Capital Group and Gregory FCA (led by Rocco Aloe).
TricorBraun, a global packaging company, agreed to acquire Euroglas and Glaspack, distributors of rigid packaging solutions for the European market. Financial terms were not disclosed.
TricorBraun is advised by Proventis Partners and Linklaters.
HarperCollins, a consumer book publisher, agreed to acquire lifestyle imprints of Gottmer, an independent publisher of children's books. Financial terms were not disclosed.
HarperCollins is advised by Loyens & Loeff (led by Roel Fluit).
Italy's Banco BPM files antitrust complaint over UniCredit bid. ( Reuters)
Italy's Banco BPM has lodged a complaint with the national antitrust authority accusing UniCredit of using the takeover bid to eliminate a competitive rival and hinder its business activities.
UniCredit is advised by Deloitte and Cappelli RCCD.
Turkish regulator to discuss Stellantis deal on local unit. ( Bloomberg)
Turkey’s Competition Authority is set to reconsider its earlier decision to block Stellantis sale of its local distribution business to Tofas Turk Otomobil Fabrikasi.
The €400m ($420m) deal was initially rejected last year due to what the regulator deemed insufficient commitments by both companies to address competition concerns.
JP Morgan sounds out investors for Everton FC stadium financing. ( Bloomberg)
JP Morgan is engaging institutional investors to raise over £300m ($376m) in debt to refinance Everton FC’s stadium, which is set to open in August.
The bank is also providing a £130m ($163m) loan to the Friedkin Group to support the acquisition of Premier League club from previous owner Farhad Moshiri.
HBX Group poised to launch around $1bn IPO in coming weeks. ( Reuters)
Spanish travel technology company HBX Group, which owns brands such as Hotelbeds, is preparing to launch a €1bn ($1.04bn) initial public offering in the coming weeks.
HBX Group’s shareholders, including private equity firms Cinven and EQT, along with the Canadian pension fund CPP Investments, are reportedly considering listing the company on the Madrid stock exchange.
Medical tech firm Brainlab to seek pitches for German IPO. ( Bloomberg)
Medical technology company Brainlab is exploring the possibility of an initial public offering in Frankfurt, potentially taking place in the second half of 2025.
The Munich-based surgical and radiotherapy applications software developer has invited banks to submit proposals for the IPO, which could value the company at around €2bn ($2.1bn).
APAC
Japan flags foreign takeover of 7-Eleven owner as a security issue. ( Reuters)
It is said that potential Alimentation Couche-Tard acquisition of Japanese retail giant Seven & i might be "closely tied" to national security concerns as convenience stores and their supply chains could play a vital role in disaster relief.
"If Seven & i's convenience store operations are controlled by foreign entities driven solely by profit, we must consider whether adequate support would be available when our people are in need during disasters," Ryosei Akazawa, Japan's Economy Minister.
Transformers toymaker Bloks raises $215m in Hong Kong IPO. ( Bloomberg)
Bloks Group, a Shanghai-based maker of Ultraman and Transformers figurines, raised HKD1.67bn ($215m) through its initial public offering in Hong Kong gaining significant interest from retail investors.
The IPO's popularity reflects a broader rally in Chinese toy companies indicating ample room for competition in China’s toy market. Retail trading activity has been bolstered by brokerages offering low or zero-interest margin loans.
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