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Top Highlights
Brookfield, a Canadian multinational company, and Temasek, a global investment company, completed the acquisition of a 53.32% stake in Neoen, a renewable energy producer, from Impala, the Fonds Stratégique de Participations, Cartusia and Xavier Barbaro, for €3.25bn ($3.4bn).
Searchlight, a global private investment firm, and BCI, one of the largest institutional investors in Canada, completed the acquisition of the remaining stake in Consolidated Communications, an American broadband and business communications provider, for $2bn.
Consolidated Communications was advised by Rothschild & Co (led by Jonathan Herbst and James Ben), Cravath Swaine & Moore (led by Robert I. Townsend, Keith Hallam and Sanjay Murti), Latham & Watkins (led by Ryan J. Lynch) and Joele Frank (led by Sharon Stern and Jed Repko). Rothschild & Co was advised by Sullivan & Cromwell (led by Stephen M. Kotran). Searchlight was advised by Goldman Sachs, JP Morgan (led by Xavier Loriferne), Mizuho Securities, Morgan Stanley, RBC Capital Markets, TD Securities, Wells Fargo Securities, Wachtell Lipton Rosen & Katz (led by Victor Goldfeld and Steven A. Cohen). BCI was advised by Weil Gotshal and Manges (led by Timothy Burns).
Truelink Capital, a middle-market private equity firm, completed the acquisition of GES business from Viad, a provider of extraordinary experiences, including attractions, hospitality, exhibition services, for $535m.
Deal Round up
AMERICAS
EMEA
Abu Dhabi’s Mubadala tops Saudi PIF with $29bn deals. (Bloomberg)
Searchlight is in advanced talks to lead a £140m funding package for Wefox. (Sky News)
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Read on...
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AMERICAS
Highlander Partners, a Dallas-based private investment firm, completed the acquisition of Ergobaby, a provider of premium baby carriers, from Compass Diversified, a holding company. Financial terms were not disclosed.
Highlander Partners was advised by Katten Muchin Rosenman. Compass Diversified was advised by Robert W Baird (led by Rob Rosenfeld).
HG-backed Cube, an automated regulatory intelligence firm, completed the acquisition of the regulatory intelligence businesses from Thomson Reuters, a global content and technology company. Financial terms were not disclosed.
HIG Capital, an alternative investment firm, completed the acquisition of Best Version Media, a provider of highly localized, multi-channel advertising solutions for small and medium-sized businesses. Financial terms were not disclosed.
EMEA
China Three Gorges, a Chinese state-owned power company, agreed to acquire a majority stake in NCP Mula Solar, a 494 MWp solar photovoltaic plant located in Murcia, from private equity firms Northleaf Capital Partners and Qualitas Energy. Financial terms were not disclosed.
Northleaf Capital Partners is advised by Ernst & Young, Societe Generale, Watson Farley & Williams, Stanton PRM and DNV.
Blackstone and Rivean Capital-backed Enstall, a rooftop solar mounting solutions provider, completed the acquisition of Schletter Group, a solar mounting systems provider. Financial terms were not disclosed.
Investment firms Proteus Enterprises and Gladstone Investment completed the acquisition of the defense business of Ricardo, a global strategic, environmental and engineering consultancy, for $85m.
Brookfield Renewable, a Canadian multinational company, completed the acquisition of a 12.45% stake in four UK offshore wind farms from Ørsted, a developer of offshore and onshore renewable energy farms, energy storage facilities, and bioenergy plants, for $2.3bn.
Brookfield was advised by Brunswick Group. Ørsted was advised by Morgan Stanley.
Central Group, a Thai multinational conglomerate, and PIF, a sovereign wealth fund of Saudi Arabia, completed the formation of a joint venture to acquire Selfridges Group.
Central Group was advised by JP Morgan. PIF was advised by Latham & Watkins.
Qatar Investment Authority, the sovereign wealth fund, completed the merger with the telecommunications businesses of Qatar National Broadband Network, a national passive fiber service provider, and Gulf Bridge International, a provider of high-capacity, low-latency, and resilient connectivity solutions. Financial terms were not disclosed.
QIA was advised by JP Morgan and Simmons & Simmons.
Abu Dhabi’s Mubadala tops Saudi PIF with $29bn deals. ( Bloomberg)
Abu Dhabi’s Mubadala Investment emerged as the most active sovereign wealth fund last year, increasing investments across sectors such as private credit and artificial intelligence.
In contrast, Saudi Arabia’s Public Investment Fund, which held the top spot in 2023, scaled back its spending and shifted focus toward domestic investments.
Searchlight is in advanced talks to lead a £140m funding package for Wefox. ( Sky News)
Searchlight Capital Partners, a private equity firm, is in advanced talks to lead a £140m funding package for Wefox, a European insurance company.
Searchlight has effectively proposed stepping in to refinance Wefox's existing bank debt as the group seeks to avoid a fire-sale of its most prized assets.
APAC
JSW Energy, an Indian power company, agreed to acquire O2 Power, a renewable energy platform, from EQT and Temasek, two investment companies, for $1.5bn.
EQT and Temasek is advised by Barclays and A&O Shearman.
Global Brands Manufacture, an electronic component manufacturer, agreed to acquire Lincstech, a manufacturer of printed wire boards, from Polaris Capital Group, a private equity firm. Financial terms were not disclosed.
Polaris Capital is advised by Mitsubishi UFJ Morgan Stanley Securities.
DCP Capital, a private equity firm, agreed to acquire a 78.7% stake in Sun Art Retail Group, a supermarket company, from Alibaba Group, a Chinese multinational technology company, for $1.6bn.
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