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AMERICAS

Trading Technologies completes the acquisition of TRAFiX.

Trading Technologies, a global capital markets technology provider, completed the acquisition of TRAFiX, a provider of equities and equity options order and execution management systems, according to press releases. Financial terms were not disclosed.

Trading Technologies was advised by Berenson & Co and Goodwin. TRAFiX was advised by Houlihan Lokey, Marks Baughan and Willkie Farr & Gallagher, according to press releases.

Hormel Foods to acquire Brakebush for $1.055bn.

Hormel Foods, an American multinational food processing company, agreed to acquire Brakebush, a producer of chicken products for foodservice, retail, healthcare, education and convenience, for $1.055bn, according to press releases.

Hormel Foods is advised by Wells Fargo Securities and Faegre Drinker Biddle & Reath. Brakebush is advised by William Blair & Co and Michael Best & Friedrich, according to press releases.

Peoples Bancorp to merge with Capital Bancorp in a $728.1m deal.

Peoples Bancorp, a diversified financial services holding company, agreed to merge with Capital Bancorp, a registered bank holding company, in a $728.1m deal, according to press releases.

Peoples Bancorp is advised by Raymond James and Dinsmore & Shohl. Capital Bancorp is advised by Stephens and Squire Patton Boggs, according to press releases.

Luminate Capital Partners completes the investment in ITpipes.

Luminate Capital Partners, a private equity firm, completed the investment in ITpipes, a developer of pipeline inspection and asset management software, according to press releases. Financial terms were not disclosed.

Luminate Capital Partners was advised by Kirkland & Ellis and Chris Tofalli Public Relations (led by Chris Tofalli). ITpipes was advised by Lincoln International and Holland & Knight, according to press releases.

OTG to acquire OHM Concession Group.

OTG, an airport hospitality and technology-driven dining experiences provider, agreed to acquire OHM Concession Group, an operator of airport concessions offering dining and retail services for travellers, according to press releases. Financial terms were not disclosed.

OHM Concession Group is advised by Stifel and Winston Taylor. OTG is advised by Leo Berwick and Paul Weiss Rifkind Wharton & Garrison, according to press releases and MergerLinks data.

Artemis-backed Optikos completes the merger with Omega Optical.

Artemis-backed Optikos, a provider of engineering, manufacturing, and metrology expertise in optical systems, completed the merger with Omega Optical, a precision optical coatings and component designer and manufacturer, according to press releases. Financial terms were not disclosed.

Optikos was advised by Mintz Levin and Houlihan Lokey. Omega Optical was advised by TCF Law Group, according to press releases.

Pye-Barker Fire & Safety completes the acquisition of Union AlarmTronic.

Pye-Barker Fire & Safety, a fully integrated and full-service fire protection, life safety and security services provider, completed the acquisition of Union AlarmTronic, a security alarm company, according to press releases. Financial terms were not disclosed.

Pye-Barker Fire & Safety was advised by Nelson Mullins Riley & Scarborough and Full Tilt Consulting (led by James Taylor). Union AlarmTronic was advised by Mesirow Financial, according to press releases.

Avex completes the acquisition of an additional stake in S10 Entertainment.

Avex, a Japanese entertainment firm, completed the acquisition of an additional stake in S10 Entertainment, a music publishing firm. The transaction increased Avex's ownership in S10 to 85%, with an agreement to reach 100% ownership over time, according to press releases. Financial terms were not disclosed.

S10 Entertainment was advised by Skadden Arps Slate Meagher & Flom (led by Glen G. Mastroberte), according to press releases and MergerLinks data.

Bain Capital to acquire a minority stake in Kahua at a valuation above $1bn.

Bain Capital, a private investment firm, agreed to acquire a minority stake in Kahua, a developer of AI-powered construction project and capital program management software, at a valuation above $1bn, according to press releases.

Gemspring Capital-backed TRG completes the acquisition of Fentron.

Gemspring Capital-backed TRG, a global managed services provider, completed the acquisition of Fentron, a cybersecurity and advisory firm, according to press releases. Financial terms were not disclosed.

Lundbeck is said to express interest in Xeris Biopharma. (Bloomberg)

Lundbeck is exploring a potential acquisition of US injectable medicines specialist Xeris Biopharma Holdings and is working with advisers on a possible takeover.

Discussions remain confidential, and no agreement has been reached.

Paramount deal delay fuels fear of costly $52bn debt. (Bloomberg)

Paramount Skydance is marketing a $52bn debt package to fund its $110bn acquisition of Warner Bros. Discovery, with the financing now carrying higher borrowing costs after delays caused by litigation. The additional annual interest burden is estimated at $250m to more than $500m.

Strong demand has led Paramount to increase the dollar loan portion to $8.5bn from $6.5bn, while reducing the investment-grade bond component by $2bn after receiving more than $109bn of orders. The company is also targeting $6bn of cost savings within three years.

OpenAI targets $30bn in funding at $1.4tn value. (Bloomberg)

OpenAI is seeking to raise at least $30bn in a new funding round at a valuation of around $1.4tn, excluding the fresh capital, after delaying its planned initial public offering.

The targeted valuation is above the roughly $1.2tn level previously considered, with discussions ongoing and terms still subject to change.

Accelevation IPO prices below range to raise $540m. (Bloomberg)

Accelevation Holdings and backer Olympus Partners raised $540m in a US initial public offering, selling 30m shares at $18 each.

The data center infrastructure company had marketed the shares at $20–$24, with the IPO pricing below the expected range.

Barrick flags potential delay for North American IPO. (Bloomberg)

Barrick Mining’s planned IPO of its North American gold business could be delayed until January 2027 after some slippage in completing listing formalities.

Mark Hill, who is set to lead the unit after it goes public, confirmed the delays but did not provide further details.

Brookfield-backed AI data center developer 5C eyes IPO. (Bloomberg)

5C Group may pursue an initial public offering as the North American AI data center developer expands its project pipeline.

The company was formed in 2025 when Hypertec Cloud was spun out of Hypertec Group and acquired 5C Data Centers.

Rising Point Capital Management closes inaugural fund at $325m. (Press Release)

Rising Point Capital Management has closed its inaugural institutional fund with $325m in commitments, exceeding its $250m target after an oversubscribed six-month fundraising process.

The fund will target founder- and family-led lower middle-market field-based services businesses across sectors including industrials, infrastructure, energy transition, environmental services and commercial services.

Paramount streaming chief exits, with HBO boss set to take over. (Bloomberg)

Cindy Holland is leaving her role as Paramount Skydance’s streaming chief, effective immediately, as the company prepares for its planned acquisition of Warner Bros. Discovery.

Paramount CEO David Ellison has selected HBO content chief Casey Bloys to oversee the combined streaming business following completion of the $81bn transaction.

Trump former antitrust chief Slater heads to White & Case. (Bloomberg)

Former US Justice Department antitrust chief Gail Slater is set to join law firm White & Case next month after leaving the government earlier in 2026.

Slater was removed from her role in February 2026 following disagreements with senior Justice Department officials over merger policy.

Private markets industry leader Mario Giannini to retire from Hamilton Lane. (Press Release)

Hamilton Lane Executive Co-Chairman Mario Giannini will retire on March 31, 2027, concluding more than three decades with the private markets investment firm.

Giannini joined Hamilton Lane in 1993, served as CEO from 2001 to 2023 and helped oversee the firm’s expansion and 2017 IPO. Hartley Rogers will continue as Executive Chairman following his retirement.

EMEA

Mutares completes the acquisition of the Acrylate Monomers business from Synthomer.

Mutares, a private equity investor, completed the acquisition of the Acrylate Monomers business from Synthomer, a supplier of high-performance, highly specialised polymers and ingredients, according to press releases. Financial terms were not disclosed.

Mutares was advised by CROSS ALLIANCE communication (led by Susan Hoffmeister). Synthomer was advised by FTI Consulting (led by Nick Hasell), according to press releases.

HIG Capital completes the acquisition of Torque.

HIG Capital, an alternative asset investment firm, completed the acquisition of Torque, a UK provider of omni-channel fulfilment services, according to press releases. Financial terms were not disclosed.

HIG Capital completes the acquisition of Arco.

HIG Capital, an alternative asset investment firm, completed the acquisition of Arco, a specialist distributor of safety equipment and provider of safety services in the UK, according to press releases. Financial terms were not disclosed.

UK watchdog flags competition concerns over Brink's $6.6bn NCR Atleos deal. (Reuters)

The UK Competition and Markets Authority has raised concerns over Brink’s $6.6bn acquisition of NCR Atleos, warning the deal could weaken competition in the UK ATM services market.

Brink’s has until October 7 to offer remedies, with the regulator threatening an in-depth Phase 2 review if concerns are not addressed. The company is already considering the sale of its NoteMachine and TestLink UK businesses.

Banks add rare lender protection to Nestle water debt deal. (Bloomberg)

Banks led by Bank of America and Deutsche Bank have arranged €2.8bn ($3.2bn) of financing for Platinum Equity’s acquisition of a stake in Nestlé’s water business, including a rare lender protection provision.

The debt package includes an omniblocker designed to prevent the company from offering preferential terms to selected creditor groups.

Stokke Industri is said to weigh sale of Norway's Jets (Bloomberg)

Stokke Industri is considering a potential sale of Norwegian vacuum sanitation systems group Jets in a transaction that could value the business at around NOK5bn ($525m).

The owner is working with Citigroup to gauge buyer interest. Deliberations remain ongoing and may not result in a transaction.

GM battery material supplier Vianode explores partnership or sale. (Reuters)

Norwegian synthetic graphite producer Vianode is seeking a strategic or financial partner to support its next expansion phase and is open to options ranging from a partnership to a full sale. The company has hired JP Morgan to advise on the process.

Vianode, backed by private equity firm Altor, aims to secure a partner by year-end and requires additional funding to complete its planned synthetic graphite plant in Ontario.

Fintech Zilch taps banks for IPO next year. (FT)

Zilch is selecting investment banks for a potential initial public offering that could take place as early as 2027, as the fintech firm prepares for a possible London listing. Discussions with prospective underwriters remain at an early stage.

The company was valued at $2bn in 2021 and is aiming to reach profitability before going public. Zilch offers buy-now-pay-later products, cashback debit cards and interest-free loans to nearly six million users.

Northcote Equity closes Fund II at £250m. (Press Release)

Northcote Equity has closed its second fund at £250m ($331m) just ten weeks after launching the raise, less than two years after the firm was founded.

Fund II will invest £10m–£40m ($13.2m-$53m) of equity in founder-led technology and services businesses across the UK and Ireland, taking both minority and majority stakes.

Protego Ventures closes $125m fund I to accelerate early-growth Israeli defense companies. (Press Release)

Protego Ventures has closed its inaugural defense-focused fund at $125m, targeting early-growth Israeli companies developing technologies across autonomous systems, AI, sensing and navigation.

The fund has already backed companies including XTEND, ASIO, Prisma Photonics and Rilian. Protego is also preparing a second fund focused on early-growth defense companies in the US.

Ardian launches Ardian Access Infrastructure ELTIF. (Press Release)

Ardian has launched Ardian Access Infrastructure ELTIF, an evergreen fund giving eligible European investors access to its global infrastructure platform across direct investments, co-investments, secondaries and underlying funds.

The strategy will focus on energy, digital infrastructure and transport, with a €10k ($11.3k) minimum investment. Ardian manages $45bn in infrastructure assets and is launching the fund in partnership with iCapital.

BP appoints Ben Monaghan as M&A chief from early 2027. (Reuters)

BP has appointed former JP Morgan banker Ben Monaghan as senior vice president for mergers and acquisitions and business development, effective early 2027, as the energy group continues to streamline its portfolio under CEO Meg O’Neill.

Monaghan joins from PJT Partners, where he advised on global energy transactions, and previously spent 20 years at JP Morgan, including leading its EMEA energy investment banking team.

Schroders Capital CEO Wunderlin set to exit in Nuveen takeover. (Bloomberg)

Schroders’ top private markets executive Georg Wunderlin is planning to leave the asset manager as the firm is being absorbed by Nuveen.

CEO Richard Oldfield is expected to assume responsibility for Schroders Capital, the group’s private markets business.

APAC

SBS Holdings to acquire Mitsubishi Chemical Logistics Corporation from Mitsubishi Chemical Corporation.

SBS Holdings, a Japanese logistics and transportation group, agreed to acquire Mitsubishi Chemical Logistics Corporation, a Japanese logistics provider specializing in chemical products, from Mitsubishi Chemical Corporation, a Japanese chemical and materials company, according to press releases. Financial terms were not disclosed.

SBS Holdings is advised by Mitsubishi UFJ Morgan Stanley Securities, according to MergerLinks data.

KKR to acquire a majority stake in Cisternina.

KKR, a global investment firm, agreed to acquire a majority stake in Cisternina, a bulk liquid and gas storage and logistics business in India, according to press releases. Financial terms were not disclosed.

Actis is said to plan $2bn India renewable energy platform. (Bloomberg)

Actis is planning to invest about $2bn in a new renewable energy platform in India, seeking to capitalize on rising power demand in the country.

The investment would mark Actis’ fourth clean energy platform in India, continuing its strategy of building large-scale renewable portfolios for eventual strategic exits.

China Evergrande enters exclusivity agreement for potential sell-down of stake in property services unit. (Reuters)

China Evergrande Group and CEG Holdings have entered exclusive talks with a selected bidder over the potential sale of their combined 51.016% stake in Evergrande Property Services.

The exclusivity period runs until October 27. Negotiations remain ongoing and no formal agreement has been signed.

Inox Clean Energy files for $1bn India IPO. (Bloomberg)

Inox Clean Energy has filed for an initial public offering in India to raise up to INR100bn ($1bn), including as much as INR80bn ($833m) through new shares and INR20bn ($208m) through a sale by promoter Devansh Jain.

The renewable energy company may also raise up to INR16bn ($167m) through a pre-IPO placement, which would reduce the size of the fresh issue accordingly.

Coca-Cola is said to consider December filing for India unit's $1bn IPO. (Bloomberg)

Coca-Cola is considering filing a draft prospectus in December for an initial public offering of its Indian bottling unit, Hindustan Coca-Cola Beverages.

Axis Capital and IIFL Capital Services have joined the group of banks working on the proposed listing. Deliberations remain ongoing and details could still change.

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