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AMERICAS
SGS, a global brand agency, agreed to acquire SGK Brand Solutions, a brand and content powerhouse, from Matthews International, a global provider of memorialization products, industrial technologies, and brand solutions, for $350m.
SGS is advised by Orrick Herrington & Sutcliffe. Matthews is advised by JP Morgan, Covington & Burling, K&L Gates and Collected Strategies (led by Clayton Erwin).
Northwestern Mutual, a financial services provider of insurance and wealth products, agreed to acquire a minority stake in Sixth Street, a global investment firm. Financial terms were not disclosed.
Sixth Street is advised by Evercore, Cleary Gottlieb Steen & Hamilton and Simpson Thacher & Bartlett (led by Ryan Williams). Northwestern Mutual is advised by Morgan Stanley and Debevoise & Plimpton (led by Andrew G. Jamieson and Nicholas Potter).
Kainos Capital-backed Wellful, an omni-channel health and wellness platform, completed the acquisition of Ancient Nutrition, a provider of food nutritional products, from VMG Partners, a private equity firm. Financial terms were not disclosed.
Ancient Nutrition was advised by Piper Sandler and Greenberg Traurig. Wellful was advised by Houlihan Lokey, Winston & Strawn and Gasthalter & Co (led by Mark Semer).
Recognize Partners, a private equity firm investing in non-financial services, information technology, artificial intelligence, cybersecurity, e-commerce & legal technology sectors, completed the investment in Sprout, a global IT asset disposition solutions provider. Financial terms were not disclosed.
Sprout was advised by Robert W Baird, Maynard Nexsen and Skadden Arps Slate Meagher & Flom. Recognize was advised by Willkie Farr & Gallagher and Chris Tofalli Public Relations (led by Chris Tofalli).
EQT, a private equity firm, agreed to acquire Scale Microgrids, a vertically-integrated distributed energy company, from Warburg Pincus, a private equity firm. Financial terms were not dislcosed.
Scale Microgrids is advised by Nomura Greentech, Truist Securities and Latham & Watkins. EQT is advised by Guggenheim Partners and Weil Gotshal and Manges (led by Douglas P. Warner and Jacqui Bogucki).
WatchGuard, a provider of cybersecurity technologies, completed the acquisition of ActZero, an AI cybersecurity company. Financial terms were not disclosed.
ActZero was advised by Cooley. WatchGuard was advised by Barclays, K&L Gates and Kirkland & Ellis.
Howard Energy Partners, a private energy infrastructure company, completed the acquisition of ethylene pipeline from EPIC Midstream, a midstream logistics services provider. Financial terms were not disclosed.
EPIC Midstream was advised by Kirkland & Ellis. Howard Energy Partners was advised by Bracewell, Sidley Austin and Redbird Communications (led by Meggan Morrison).
Bluesight, a provider of inventory management, procurement, and compliance solutions for hospitals and pharmacies, completed the acquisition of Protenus, a healthcare compliance analytics platform provider. Financial terms were not disclosed.
Protenus was advised by Robert W Baird and DLA Piper. Bluesight was advised by Kirkland & Ellis.
Kian Capital, a private equity firm, completed the acquisition of Eden Brothers, a flower seeds and bulbs e-commerce retailer. Financial terms were not disclosed.
Eden Brothers is advised by VRA Partners. Kian Capital is advised by Robinson Bradshaw and MiddleM Creative (led by Allie Gamble).
Blackstone, an alternative asset manager, completed the $300m investment in DDN, a data intelligence and storage platform.
DDN was advised by Bank of America and The Outcast Agency (led by Brian Cronkhite).
Ascend, a healthcare-focused private equity company, completed the acquisition of a majority stake in Unison Therapy Services, a provider of therapies to children with autism and other developmental disabilities. Financial terms were not disclosed.
Swoop, an AI-driven, data-powered omnichannel healthcare marketing company, completed the acquisition of MyHealthTeam, the creator of an opted-in patient social network in the US. Financial terms were not disclosed.
RXR, a vertically integrated real estate and infrastructure owner, investor, operator and developer, completed the acquisition of a 49% stake in 1211 Avenue of the Americas from Ivanhoe Cambridge, a real estate investment firm. Financial terms were not disclosed.
RXR was advised by Strategic Capital Alliance and Newmark Group.
Boston Scientific Corporation, a medical technologies company, agreed to acquire Bolt Medical, the developer of an intravascular lithotripsy advanced laser-based platform for the treatment of coronary and peripheral artery disease, for $664m.
Bolt Medical is advised by Centerview Partners.
Clarion Capital Partners, a private equity firm, completed the acquisition of Marketplace Events, a company that organizes business-to-consumer shows in North America. Financial terms were not disclosed.
Marketplace Events was advised by BrightTower (led by Sam Barthelme).
SPARC Group, a full-service retail company, and JCPenney, a US-based department stores operator, formed Catalyst Brands, a portfolio of six fashion retail brands. Financial terms were not disclosed.
Constellation Energy nearing $30bn deal to acquire Calpine. ( Reuters)
Constellation Energy is close to finalizing a $30bn deal to acquire power producer Calpine, a transaction that would significantly bolster its generation capacity amid growing US power demand.
The deal, expected to be announced by January 13, is likely to involve a payment structure consisting mostly of stock, with a smaller cash component.
Historically, Constellation Energy has worked with Sidley Austin and Bank of America, according to MergerLinks data.
GSK is in discussions to acquire biotech firm IDRx in a move aimed at strengthening its expanding oncology portfolio.
The deal could value the privately held IDRx at up to $1bn. Negotiations are ongoing, and there is no certainty that an agreement will be reached.
SoftBank and Arm weigh acquiring Ampere Computing. ( Reuters)
Japanese technology investor SoftBank Group and its majority-owned Arm Holdings are considering a potential deal for Ampere Computing, a semiconductor firm backed by Oracle.
Ampere has attracted interest from Arm as it evaluates its strategic options.
Historically, SoftBank has worked with Morrison & Foerster, Latham & Watkins, JP Morgan and Goldman Sachs, according to MergerLinks data.
Vensana Capital closes $425m Fund III to back breakthrough medical technology companies. ( Press Release)
Vensana Capital announced on January 9 the successful closing of Vensana Capital III with $425m in committed capital.
The fund, which was oversubscribed and reached its hard cap, received strong support from existing limited partners as well as select new institutional investors. This milestone brings Vensana’s total assets under management to approximately $1bn.
EMEA
Lufthansa is poised to acquire a stake in the Italian state-owned airline ITA, with the deal set to be finalized on January 13. Lufthansa CEO Carsten Spohr revealed the date during an employee event.
While a Lufthansa spokesperson declined to confirm the specific date, they reiterated that the acquisition is expected to close in early 2025.
Bauer Media, a German multimedia conglomerate, agreed to acquire Europe-North segment of Clear Channel Outdoor, an outdoor advertising platform provider, for $625m.
Clear Channel Outdoor is advised by Deutsche Bank and Moelis & Co.
Tipico Group, a sports betting provider in the German-speaking region, agreed to acquire ADMIRAL, a provider of a range of betting and gaming products, from NOVOMATIC, an international gambling company. Financial terms were not disclosed.
Tipico is advised by Rothschild & Co.
Edi Truell, a British pensions and private equity entrepreneur, offered to acquire De La Rue, a British company producing secure digital and physical protections for goods, trade, and identities, for $301m.
Thyssenkrupp says several firms interested in marine division. (Handelsblatt)
Several companies have shown interest in forming a potential partnership with Thyssenkrupp's TKMS marine division, a company spokesperson confirmed on January 9. This followed a report by Handelsblatt indicating that German engine maker Deutz had expressed interest in acquiring TKMS.
According to industry sources cited by Handelsblatt, Deutz submitted a non-binding offer for TKMS late last year as part of a strategy to establish a new business segment.
Apax, Warburg tap banks for €1bn-plus IPO of Odido. (Bloomberg)
Apax Partners and Warburg Pincus have chosen banks to manage the initial public offering of Dutch telecommunications group Odido, a deal that could raise over €1bn ($1.1bn).
Barclays, Goldman Sachs, and Morgan Stanley have been appointed as lead arrangers for the share sale, while junior roles in the offering are being allocated to other banks.
APAC
A consortium led by Malaysia’s sovereign wealth fund Khazanah and Global Infrastructure Partners had secured an 84.1% stake in Malaysia Airports.
The consortium first proposed in May last year to buy all shares of Malaysia Airports not already in its possession. The recently reached stake brings the acquisition closer to the 90% threshold needed to delist Malaysia Airports from the stock exchange.
Malaysia Airports is advised by UBS. Global Infrastructure Partners is advised by Weil Gotshal and Manges (led by Murray Cox) and Brunswick Group.
India's Adani to sell up to 20% stake in Wilmar joint venture. ( Reuters)
India's Adani Group announced on January 9 plans to sell up to 20% of its stake in Adani Wilmar to comply with minimum public shareholding regulations, as the conglomerate moves toward exiting the consumer goods business.
Adani, which currently owns nearly 44% of the joint venture with Singapore’s Wilmar International, will offer 13.5% to the public starting January 10, with the option to sell an additional 6.5%.
Historically, Adani has worked with Cyril Amarchand Mangaldas, Latham & Watkins, Deutsche Bank and Barclays, according to MergerLinks data.
Philippine fintech company is said to pick banks for IPO. ( Bloomberg)
GCash, a fintech platform in the Philippines, has appointed banks to assist with a potential initial public offering that could occur this year.
The company has selected JPMorgan Chase, Morgan Stanley, and UBS Group to manage the share sale, with HSBC and Jefferies potentially also involved in arranging the deal.
Unisplendour said to plan Hong Kong listing to raise about $1bn. ( Bloomberg)
Chinese cloud-computing and IT infrastructure firm Unisplendour is planning a second listing in Hong Kong, potentially as early as this year, aiming to raise around $1bn.
The Beijing-based company has invited banks to submit proposals for roles in the listing.
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