Wellspring Capital, a private equity firm, completed the acquisition of Summit Spine & Joint Centers, a provider of minimally invasive spine services, from MSouth Equity, a private equity investment firm, according to press releases. Financial terms were not disclosed.
Summit was advised by Houlihan Lokey and DLA Piper. Wellspring Capital was advised by Benesch Friedlander Coplan & Aronoff. Debt financing was provided by Audax Group, according to press releases.
Morgan Properties, a private owner of multifamily communities, completed the acquisition of a portfolio of 3,054 units from Trilogy Real Estate Group, a real estate investment firm, for $501m, according to press releases.
Morgan Properties was advised by Newmark Group, Walker & Dunlop and Gregory FCA (led by
Britni Ackrivo)
, according to press releases.
A Blackstone-led investor consortium, including CPP Investments, Caisse de dépôt et placement du Québec, PSP Investments and British Columbia Investment Management, agreed to acquire a 49.9% stake in the wireless network from Rogers Communications, a communications and entertainment company, for CAD7bn ($5bn), according to press releases.
French multinational retail and wholesaling corporation Carrefour raised its offer to acquire all outstanding shares of its subsidiary Grupo Carrefour Brasil by 10% , resulting in a c. $1bn deal.
Carrefour is advised by Rothschild & Co (led by
Luiz Muniz)
, according to MergerLinks data.
Wilsonart, an engineered surfaces company, agreed to acquire the woodworking products distribution business of Virginia Tile, a distributor of high-quality tile and surface solutions, according to press releases. Financial terms were not disclosed.
Wilsonart is advised by Debevoise & Plimpton (led by
Uri Herzberg)
, according to press releases.
Redbrick, a company that builds, acquires, and supports innovative businesses, completed the acquisition of Quartz, a digital media company, and The Inventory, a consumer product media company, from G/O Media, a media holding company, according to press releases. Financial terms were not disclosed.
Redbrick was advised by Oaklins, according to press releases.
Foresite Capital, a healthcare and life sciences investment firm, and OrbiMed Advisors, a global investment firm, led a $110m Series A round in RayThera, a biotechnology company, with participation from TTM Capital, according to press releases.
Karman, a fabricator of space and defense systems, completed the acquisition of Metal Technology, an engineered products manufacturer utilizing refractory alloys, for $90m, according to press releases.
TikTok US spinoff deal halted amid new tarrifs. (
Reuters)
A proposed deal to spin off TikTok’s US operations into a new American-owned entity has been put on hold, following President Donald Trump’s announcement of reciprocal tariffs.
The deal, which was nearly finalized, would have established a US-based company majority-owned by American investors, with ByteDance retaining a minority stake of under 20%. Escalating geopolitical tensions have now stalled progress.
Hailey Bieber explores $1bn sale of cosmetics brand Rhode. (
Reuters)
Model and entrepreneur Hailey Bieber is exploring a potential sale of her skincare and cosmetics brand Rhode, which could be valued at over $1bn.
Bieber has engaged JP Morgan and Moelis & Co as advisers to identify potential buyers for the brand, which she launched in 2022. The process remains confidential and is still in early stages.
Moneta Ventures, an investment firm dual-headquartered in Sacramento, CA, and Austin, TX, raised over $250m for its third fund. Investors in their most recent fund include high net-worth individuals and family offices in California and Texas, and institutional investors such as banks.
“Our success in this fundraise is a direct result of the unwavering support of our early investors,” Lokesh Sikaria, Moneta Ventures Founder and Managing Partner.
Bank of America tech banking co-head Ric Spencer leaves firm. (
Bloomberg)
Ric Spencer, co-head of global technology investment banking at Bank of America, left the firm to pursue other opportunities. Spencer was based in Palo Alto, California, and had been a key figure in the bank’s tech coverage.
Johnny Williams, who previously co-led the group with Spencer, has been appointed sole head of global technology banking.
Morgan Stanley hires Barclays' Jon Swope and UBS' Mark Filenbaum. (
Bloomberg)
Morgan Stanley has appointed Jon Swope and Mark Filenbaum as managing directors in its healthcare investment banking group.
Swope, joining from Barclays, will lead the healthcare technology vertical—an area of growing strategic focus. Filenbaum, formerly at UBS, will cover healthcare services, with a focus on drug distributors and the healthcare supply chain.
