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AMERICAS
SK Capital completes the investment in Swixx BioPharma at a €1.5bn valuation.
SK Capital, a New York-based private investment firm, completed the investment in Swixx BioPharma, a provider of pharmaceutical commercialization services, at a €1.5bn ($1.75bn) valuation. Bain Capital Life Sciences has taken a minority investment position alongside SK Capital, while earlier investors Biocorp, Merieux Equity Partners, and HBM Healthcare Investments also reinvested, according to press releases.
SK Capital was advised by KPMG, Clearview Healthcare Partners, Rothschild & Co, Bar & Karrer (led by Christoph Neeracher and Philippe Seiler), Dentons (led by Louise Hodnett), Kirkland & Ellis and Gregory FCA (led by Daniel Abramson). Debt financing was provided by Ares Management. Swixx BioPharma was advised by Ernst & Young, Boston Consulting Group, Centerview Partners, Jefferies & Company, NautaDutilh, Walder Wyss (led by Hans-Jakob Diem) and MHP Group (led by James McFarlane and Matthew Taylor). Biocorp was advised by Homburger (led by Andreas Müller and Claude Lambert), according to press releases and MergerLinks data.
Thoma Bravo-backed Auctane completes the merger with WWEX Group.
Thoma Bravo-backed Auctane, a major global technology and logistics company that provides e-commerce shipping, mailing, and order fulfillment software, completed the merger with WWEX Group, a third-party logistics provider of parcel and freight services. As part of the transaction, CVC and other existing WWEX Group investors, including Providence Equity Partners, Ridgemont Equity Partners and PSG, rolled over a portion of their equity and retained a significant minority stake in the combined company, which will operate as ShipStation Global, according to press releases. Financial terms were not disclosed.
WWEX Group was advised by Goldman Sachs, JP Morgan, Morgan Stanley, UBS and Latham & Watkins (led by Mikael Vardanian, Matthew Villar and Paul Kukish). Thoma Bravo was advised by Kirkland & Ellis and FGS Global (led by Akash Lodh). CVC was advised by Latham & Watkins. Providence Equity Partners was advised by Weil Gotshal and Manges (led by Ramona Nee and Jakub Wronski), according to press releases and MergerLinks data.
DB Insurance completes the acquisition of Fortegra from Tiptree and Warburg Pincus for $1.65bn.
DB Insurance, a South Koreaan non-life insurer company, completed the acquisition of Fortegra, a US-based specialty insurer from Tiptree, a US-based company that provides specialty insurance products, and Warburg Pincus, a private equity firm, for $1.65bn, according to press releases.
Fortegra was advised by Bank of America (led by Jonathan Alpert), Barclays, Keefe Bruyette & Woods (led by Wesley Fox) and Sidley Austin (led by Michael D. Devins). Financial advisors were advised by Sullivan & Cromwell (led by Stephen M. Kotran). DB Insurance was advised by Goldman Sachs and Latham & Watkins (led by Andrew C. Elken). Tiptree was advised by Ropes & Gray (led by Suni Sreepada), according to MergerLinks data and press releases.
AD Ports, the exclusive developer and regulator of ports and related infrastructure in Abu Dhabi, agreed to acquire a majority stake in Corredor Logística e Infraestrutura, a Brazilian independent port logistics and infrastructure operator, from Macquarie Asset Management and IG4 Capital, the asset management firms, for $835m, according to press releases.
AD Ports is advised by BTG Pactual and Machado Meyer Sendacz e Opice Advogados. Macquarie Asset Management is advised by Citigroup and Lefosse Advogados. IG4 Capital is advised by Citigroup and Pinheiro Neto, according to press releases.
Littlejohn & Co., a private investment firm, completed the acquisition of Milrose Consultants, a national consulting, engineering and architecture services provider, from Southfield Capital, a private equity firm, according to press releases. Financial terms were not disclosed.
Littlejohn & Co. was advised by Lincoln International, Morrissey Goodale, Kirkland & Ellis, Ropes & Gray and Gasthalter & Co (led by Nathaniel Garnick and Grace Cartwright), according to press releases.
CVC Capital to acquire the food ingredients business from IFF for $4.3bn.
CVC Capital, a private equity and investment advisory firm, agreed to acquire the food ingredients business from IFF, a creator of flavors, scents, food ingredients, and health biosciences, for $4.3bn, according to press releases.
IFF is advised by Bank of America, JP Morgan and Skadden Arps Slate Meagher & Flom (led by Brandon Van Dyke). Debt financing is advised by Latham & Watkins (led by Jesse Sheff), according to MergerLinks data and press releases.
Everest Infrastructure Partners, an infrastructure fund, completed the acquisition of the US tower portfolio of ATN International, a company that operates and manages telecommunications infrastructure and delivers broadband and voice services, for up to $297m, according to press releases.
ATN International was advised by Rothschild & Co (led by Jonathan Herbst), Lape Mansfield Nakasian & Gibson, Sharon Merrill Advisors and Three Part Advisors (led by Joe Noyons and Kelley Buchhorn), according to press releases, and MergerLinks data.
Wellington Management, a global investment management firm, agreed to acquire Hartford Funds, a provider of investment solutions for the wealth management market, from The Hartford, a major American insurance and financial services company, for $1.9bn, according to press releases.
Wellington Management is advised by JP Morgan and Paul Weiss Rifkind Wharton & Garrison. The Hartford is advised by Goldman Sachs and Weil Gotshal and Manges, according to press releases.
26North, a private equity firm, agreed to acquire Independent Life Insurance Group, an insurance company focused on the manufacture and distribution of structured settlement annuities, according to press releases. Financial terms were not disclosed.
26North is advised by RBC Capital Markets and Kirkland & Ellis. Independent Insurance Group is advised by Piper Sandler and Mayer Brown, according to press releases.
Brand Velocity Group, a diversified investment platform, completed the acquisition of RCX Sports, a youth sports and event management company, from Raine Group, a global merchant bank, according to press releases. Financial terms were not disclosed.
Brand Velocity Group was advised by CohnReznick and Sidley Austin. RCX Sports was advised by The Raine Group and Orrick Herrington & Sutcliffe, according to press releases.
Saothair Capital Partners, a private equity firm, completed the acquisition of Engineered Absorbent Materials, a manufacturer of engineered absorbent materials and disposable absorbent cores, from Domtar, a diversified forest products manufacturer, according to press releases. Financial terms were not disclosed.
Saothair Capital Partners was advised by McGuireWoods. Domtar was advised by BMO Capital Markets and Troutman Pepper Locke, according to press releases.
Partners Group-backed DiversiTech, a manufacturer of equipment pads, completed the acquisition of Polymer Adhesives, a manufacturer of duct sealants and insulation adhesives company, from DalFort Capital Partners, a sector-focused investment firm, according to press releases. Financial terms were not disclosed.
DalFort Capital Partners was advised by BMO Capital Markets, Houlihan Lokey, and Greenberg Traurig, according to press releases.
Court Square Capital and WindRose Health-backed Soleo Health, a provider of specialty pharmacy and infusion services, completed the acquisition of Realo Specialty Care Pharmacy, a specialty pharmacy, and BluHaven Management, an ambulatory infusion center, from Realo Drugs, a full service, full discount drug store, according to press releases. Financial terms were not disclosed.
Soleo Health was advised by Latham & Watkins and Polsinelli. Realo Drugs was advised by Ward and Smith, according to press releases.
Bluestone-backed Valiant Solutions, a provider of cybersecurity and IT services, completed the acquisition of BreakPoint Labs, a highly specialized cybersecurity company, according to press releases. Financial terms were not disclosed.
BreakPoint Labs was advised by Piper Sandler and Miles & Stockbridge. Valiant Solutions was advised by Holland & Knight, according to press releases.
Hiab, a provider of smart and sustainable on-road load handling solutions, agreed to acquire Labrie Environmental Group, a refuse collection vehicle manufacturer, from Wynnchurch Capital, a private equity firm, for $1bn, according to press releases.
Hiab is advised by Morgan Stanley and Sidley Austin, according to press releases.
AE Industrial Partners-backed Air Transport Components, an aerospace services provider, completed the acquisition of Aero Controls, a provider of specialized, precision-engineered component MRO services, according to press releases. Financial terms were not disclosed.
Aero Controls was advised by XLCS Partners. AE Industrial Partners was advised by Stanton PRM (led by Matthew Conroy), according to press releases.
Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, investment firms, led a $65bn Series H round in Anthropic, an American artificial intelligence company, with participation from Capital Group, Coatue, D1 Capital Partners, GIC, ICONIQ, XN, AMP PBC, Baillie Gifford, Blackstone, Brookfield, D.E. Shaw Ventures, DST Global, Fidelity Management & Research Company, General Catalyst, Insight Partners, Jane Street, Lightspeed Venture Partners, MGX, NTTVC, NX1 Capital, Situational Awareness LP, T. Rowe Price Associates, T. Rowe Price Investment Management, Temasek, and Amazon, according to press releases.
Alpac Capital, an investment management firm, agreed to acquire Adria News Network, a media company, from BC Partners-backed United Group, a media and communication services provider, according to press releases. Financial terms are not disclosed.
Four Corners Property Trust, a real estate investment trust, agreed to acquire up to 102 Mission Pet Health veterinary properties of Shore Capital, a private equity firm, for $268m, according to press releases.
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137 Ventures and BANNER VC, the venture capital firms, led a $500m Series D round in Impulse Space, a startup developing in-space transportation technology and services for satellites that fly to low earth orbit but then need to reach other orbits, with participation from Founder’s Fund, Lux Capital, and Linse Capital, according to press releases.
Infinite Capital and Ribbit Capital, the venture capital firms, led a $300m Series C round in Mach Industries, a defense technology company building autonomous drones, loitering munitions, and hydrogen-powered defense platforms, with participation from Bedrock Capital, Sequoia Capital, and Khosla Ventures, according to press releases.
Meiji Seika Pharma has made an investment in GHIC’s global health security fund. ( Press Release)
Meiji Seika Pharma announced that it has committed to invest in the Global Health Security Fund, sponsored by the Global Health Investment Corporation, a nonprofit organization based in New York.
Through this investment, Meiji Seika Pharma aims to help accelerate innovations that address major global health challenges, including pandemic preparedness and antimicrobial resistance.
Devon Energy has received an $8bn offer for its Marcellus assets. ( Reuters)
Devon Energy has received an offer of about $8bn from Stone Ridge Asset Management for its Marcellus shale assets.
The proposal comes as Devon reassesses its portfolio following the recent completion of its $58bn merger with Coterra Energy — a deal that created one of the largest independent oil and gas producers in the US, with operations across several key regions, led by the Delaware portion of the Permian Basin in Texas and New Mexico.
Blackstone‑backed Liftoff is aiming for a valuation of about $3.7bn in its US IPO. ( Reuters)
Liftoff Mobile, backed by Blackstone, said that it is aiming for a valuation of up to $3.66bn in its US initial public offering — a renewed effort to gauge investor interest after previously pulling its planned debut.
The Redwood City–based company is looking to raise as much as $418m by offering 19m shares priced between $20 and $22 each, a sharp reduction from the up to $762m it had targeted in its earlier attempt.
Silver Lake‑backed Entrata has submitted paperwork for an IPO. ( WSJ)
Entrata, a property‑management software provider backed by Silver Lake, has filed to go public.
The Lehi, Utah–based company didn’t disclose how many shares it plans to sell or the amount it aims to raise.
Gigascale Capital has closed its first institutional fund, raising $250m to invest in companies focused on rebuilding physical infrastructure for climate impact.
The fund will back early-stage businesses in areas including clean energy, grid infrastructure, industrial supply chains and AI-enabled manufacturing systems.
EMEA
Worthington Steel, a metals processor, completed the acquisition of a 62% stake in Kloeckner & Co, a global service center and producer-independent metals processor, at an enterprise value of $2.4bn. Worthington Steel intends to delist Kloeckner & Co by launching a public tender offer to acquire all remaining outstanding shares, according to press releases.
Bpifrance, SEALSQ and STMicroelectronics led a €115m ($134m) Series A round in Quobly, a French technology company and quantum computing developer, with participation from European Innovation Council, Blast, ALIAD and Innovacom, according to press releases.
Quobly was advised by Avolta, Rochefort & Associés, Goodwin Procter and Kelten - Association d'Avocats. Investors were advised by Forvis Mazars, Bignon Lebray, Jones Day (led by Geoffroy Pineau-Valencienne) and Rimon Law. Debt financing was provided by BNP Paribas, Bpifrance, Caisse d'Epargne Ile-de-France and Societe Generale, according to press releases and MergerLinks data.
One Equity Partners, a private equity firm, completed the acquisition of Bozzetto Group, a global specialty chemicals provider, from Aimia, a Toronto-based investment holding company, for up to CAD268m ($194m), according to press releases.
Magellan Partners, a private equity firm, completed the acquisition of the MeTS business line from Worldline, a company specialising in payment services for merchants and financial institutions, for €400m ($466m), according to press releases.
Magellan Partners was advised by Mayer Brown (led by Olivier Tordjman) and Perez Llorca (led by Carmen Reyna). Worldline was advised by PricewaterhouseCoopers, Rothschild & Co (led by Cyrille Harfouche), Bredin Prat (led by Clemence Fallet) and Freshfields, according to press releases and MergerLinks data.
Universal Music Group said its board unanimously determined that an unsolicited and non-binding proposal from Pershing Square Capital Management was not in the best interests of the company and its stakeholders.
Universal Music is advised by Citigroup, Paul Weiss (led by Andrew Krause). Pershing Square is advised by Jefferies, Stibbe, Sullivan & Cromwell (led by Scott Miller), and White & Case, according to press releases.
TDR Capital, a British private equity firm, completed the acquisition of Escode, a software escrow service provider, from NCC Group, a global cyber and software resilience business, for £275m ($369m), according to press releases.
Sixth Street, a global investment firm, completed over $1bn investment in Kpler, a global data, analytics and software company, according to press releases.
Sixth Street was advised by Moelis & Co and Milbank. Kpler was advised by Evercore and Goodwin Procter, according to press releases.
PAI Partners, a pre-eminent private equity firm, agreed to acquire a majority stake in Arlettie, an international B2B inventory management specialist for luxury brands, according to press releases. Financial terms were not disclosed.
PAI Partners is advised by Greenbrook (led by Peter Hewer), H/Advisors Abernathy and ICR Inc (led by Brian Ruby). Arlettie is advised by Evercore, according to press releases and MergerLinks data.
Mutares, a German-based holding company, agreed to acquire TREPEL Airport Equipment, a manufacturer of ground support equipment for airports, and MAFI-Transport Systeme, a manufacturer of heavy‑duty transport equipment, from NDW Maschinenbau Holding, a Germany‑based industrial holding company, according to press releases. Financial terms were not disclosed.
Hellman & Friedman, a private equity firm, agreed to acquire Hyve Group, a major global B2B events company, from Providence Equity Partners, and Searchlight Capital Partners, the private equity firms, according to press releases. Financial terms were not disclosed.
Hellman & Friedman is advised by RAN Advisory. Hyve Group, Providence Equity Partners and Searchlight Capital Partners are advised by JP Morgan and LionTree Advisors, according to press releases.
Framatome, a major French nuclear reactor business, completed the acquisition of the French valves operations of First Reserve-backed Trillium Flow Technologies, a manufacturer of mission-critical pumps, valves, actuators and steam turbines, according to press releases. Financial terms were not disclosed.
First Reserve and Trillium Flow Technologies were advised by JP Morgan, Freshfields and Joele Frank (led by Erik Carlson and Madeline Jones), according to press releases.
Isatis Capital, an asset management company, completed a minority investment in Adelyce, a management consulting firm that provides application for debt management, tax revenue, financial and payroll services, according to press releases. Financial terms were not disclosed.
Adelyce was advised by Rothschild & Co, according to MergerLinks data.
3i Group, a private equity firm, completed the investment in Nutergia, a manufacturer of dietary supplements and micronutrition products for consumers and professional channels, according to press releases. Financial terms were not disclosed.
Nutergia was advised by Houlihan Lokey, according to press releases and MergerLinks data.
Headline, a venture capital firm, led a $110m Series C round in Fonoa, a tax operating system for autonomous tax, with participation from Eurazeo, Forestay Capital, Index Ventures, OMERS, Coatue, and Dawn Capital, according to press releases.
Fonoa was advised by COMMAND, according to press releases.
PSG Equity and Verto-backed CHR Group, a French company specializing in digital solutions for professionals in the hospitality and foodservice industries, completed the acquisition of Rmoni, a Dutch-Belgian company that develops digital quality management solutions, and ANDY, a Spain-based developer of a digital assistant designed to manage and digitize food service and hospitality operations, according to press releases. Financial terms were not disclosed.
Triton Partners, a European private equity firm, agreed to acquire Flender, a global drive systems manufacturer specializing in gearboxes, couplings and generators, from Carlyle, a global private equity and alternative asset management firm, according to press releases. Financial terms were not disclosed.
FSN Capital Partners-backed Nordlo, a Swedish IT group, completed the acquisition of Nethouse, a company specialized in cybersecurity, cloud and infrastructure, according to press releases. Financial terms were not disclosed.
HSG is reportedly leading the talks to buy Leica, the camera maker backed by Blackstone. ( Bloomberg)
HSG has become the frontrunner to acquire a stake in German premium camera maker Leica.
The firm is negotiating to purchase a 45% holding currently owned by Blackstone.
Private credit firm Castlelake has shown takeover interest in EasyJet. ( FT)
EasyJet has drawn takeover interest from private credit firm Castlelake, raising the prospect that the British budget airline could become the latest UK‑listed company to leave the stock market.
Castlelake said that it is in the “early stages of considering a possible offer” for EasyJet, though it has not approached the airline’s board. The firm, majority‑owned by Brookfield Asset Management, also stressed that there is no guarantee it will proceed with a bid.
Eurazeo raises €3.9bn for flagship direct lending fund. ( Bloomberg)
Eurazeo has raised €3.9bn ($4.5bn) for its latest flagship direct lending fund, underscoring continued investor demand for European private credit strategies.
Including separately managed accounts and private wealth capital, the strategy has attracted €5.5bn ($6.4bn) and focuses on lending to lower mid-market companies across Europe.
APAC
Hims & Hers, a health and wellness platform, completed the acquisition of OneVentures-backed Eucalyptus, a global telehealth provider specializing in digital healthcare solutions, for up to $1.15bn, according to press releases.
Atinum Investment and IMM Investment, investment firms, led a $135m Series B in XCENA, a provider of memory-centric computing solutions for AI infrastructure, with participation from SBI Investment, Mirae Asset, STIC Ventures, Wonik Investment Partners, SV Investment, LB Investment, Corstone Asia, Kiwoom Investment, DSC Investment, Shinhan Venture Investment, Korea Development Bank, KDB Capital, Premier Partners, Kolon Investment, Company K Partners, K2 Investment Partners, Partners Investment, and Kyobo, according to press releases.
Ince Capital, a venture capital firm, and China Life Insurance, an insurance and financial services group, led a $200m funding round in Vast, a technology company developing AI‑generated 3D environments and immersive digital communities, with participation from Genesis Capital, Eminence Ventures and Primavera Venture Partners.
SoftBank among bidders for Blackstone’s Japan payment firm. ( Bloomberg)
Blackstone is exploring a potential sale of payments services provider SP.LINKS, seeking to exit the investment just over two years after its acquisition.
A bidding process is under way, with SoftBank among the parties that have advanced to the second round. Other prospective bidders include financial investors as the sale process progresses.
Nippon Life to invest $10bn in Blackstone private credit strategies. ( DealStreetAsia)
Nippon Life Insurance is expanding its presence in private credit through new investment strategies in collaboration with Blackstone.
The initiative focuses on allocating capital to private credit assets as institutional investors increase exposure to alternative income‑generating investments.
Malaysia’s largest pharmacy chain, Big Caring, is reportedly seeking about $750m through an IPO. ( Bloomberg)
Big Caring Group, Malaysia’s largest pharmacy chain, is seeking to raise up to MYR3bn ($750m) through an IPO, which could rank among the country’s biggest listings in nearly a decade.
The company, backed by private equity firm Creador, aims to launch the offering by October.
Blackstone has raised $13.1bn for its latest Asia private equity fund, exceeding its $10bn target and marking the firm’s largest fundraise in the region.
The vehicle, Blackstone Capital Partners Asia III, attracted more than double the capital raised by its predecessor amid continued investor interest in Asian private equity.
Elliott builds stake in Northern Star and pushes for review. ( Bloomberg)
Elliott Investment Management has built a stake worth more than AUD1bn ($716m) in Northern Star Resources and is urging the Australian gold miner to undertake a strategic review, including a potential sale.
The activist investor disclosed its position as Northern Star had a market capitalization of about AUD26.5bn ($19bn), with the company’s shares rising following the announcement.
BofA is hiring Avendus deal maker Gupta for India role in major post-Mizuho exit. ( Bloomberg)
Bank of America is hiring Anshul Gupta from Avendus Capital to lead its investment banking business in India.
The appointment reflects efforts by the US lender to strengthen its dealmaking presence in one of the world’s fastest‑growing major economies.
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