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Top Highlights
CapVest-backed Datasite, the global SaaS provider of AI-powered workflow collaboration and automation solutions for M&A, investment and strategic projects, completed the acquisition of Grata, a leading AI-native, private market intelligence company, according to press releases. Deal value is over $200m.
Datasite was advised by Arma Partners (led by Paul-Noel Guely, Daniel Fugmann), Willkie Farr & Gallagher (led by Andrew Gray, David Arnold), Alvarez & Marsal (led by Erik Kessler, Sean St. Germain), KPMG (led by Seth Rowland, Andrew Keller, Miles Bonsor and Simon Page), Lockton Companies (led by Jordan Burbach, Scott Christopher), West Monroe (led by Adam Drake) and 5W Public Relations (led by Nicholas Koulermos). Grata was advised by Deutsche Bank (led by Jacques Raphael and Kevin Van) and Orrick Herrington & Sutcliffe (led by David Gold and Jake Ornstein), according to press releases and MergerLinks data.
Lowe's, an American retail company specializing in home improvement, completed the acquisition of Artisan Design Group, a provider of design, distribution, and installation services for interior surface finishes, from The Sterling Group, a private equity investment firm, for $1.3bn, according to press releases.
Artisan Design Group was advised by Goldman Sachs, RBC Capital Markets, Robert W Baird and Latham & Watkins (led by Scott Miller and Bruce C. Herzog). Lowe's was advised by Centerview Partners, Greenhill & Co, Covington & Burling and Joele Frank (led by Tim Ragones), according to press releases.
Montagu, a private equity firm, completed the acquisition of Multifonds, a fund administration software business, from Temenos, a banking software company, for $400m, according to press releases.
Deal Round up
AMERICAS
Petronas is said to explore sale of $7bn Canadian business. (Bloomberg)
Vietnam firms to sign MoUs to buy $2bn of US farm produce. (Reuters)
Meta and Constellation partner on clean energy project. (Press Release)
EMEA
UK medical robotics company aims for $4bn sale. ( FT)
Merck held talks to buy Swiss biotech MoonLake for more than $3bn. ( FT)
NextEnergy Solar said to have rejected bid from Foresight. ( Bloomberg)
Novo Banco shareholders to vote on steps for €1bn IPO. ( Bloomberg)
APAC
JSW Neo Energy seeks $675m loan for O2 Power deal. ( Bloomberg)
India considers easing bank ownership rules as foreign interest grows. ( Reuters)
Ping An Insurance seeks $1.5bn in convertible bonds. ( Bloomberg)
Philippine fintech GCash to split stocks ahead of possible IPO. ( Bloomberg)
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AMERICAS
Anglo American, a global mining company with a portfolio that spans diamonds, platinum, copper, iron ore & more, completed the spin-off of its Anglo American Platinum business in a $7.4bn deal, according to press releases.
Braze, a customer engagement platform, completed the acquisition of OfferFit, an AI decisioning company, for $325m, according to press releases.
Entertainment Partners, a leader in entertainment production payroll, finance and management solutions, agreed to acquire CASHét, a provider of digital payment solutions for the entertainment industry, according to press releases. Financial terms were not disclosed.
CASHét is advised by William Blair & Co and Paul Hastings. Entertainment Partners is advised by Centerview Partners, Moulton Moore Stella and Ropes & Gray, according to press releases.
Diamondback Energy-backed Viper Energy, a company that owns and acquires mineral and royalty interests, agreed to acquire Sitio Royalties, a pure-play mineral and royalty company, for $4.1bn, according to press releases.
Sitio Royalties is advised by JP Morgan and Vinson & Elkins. Viper Energy is advised by Moelis & Co and Wachtell Lipton Rosen & Katz (led by Zachary Podolsky), according to press releases and MergerLinks data.
Cal-Maine Foods, a producer and distributor of fresh shell eggs, completed the acquisition of Echo Lake Foods, a company that produces, packages, markets and distributes ready-to-eat egg products and breakfast foods, for $258m, according to press releases.
Cal-Maine Foods was advised by Goldman Sachs, Jones Walker and Sidley Austin (led by Mark Metts), according to press releases.
Astorg, a pan-European private equity firm, completed the acquisition of Medical Media Business of FUJIFILM Irvine Scientific, a manufacturer of cell culture solutions for the life science and medical markets, according to press releases. Financial terms were not disclosed.
Astorg was advised by Jefferies & Company and Weil Gotshal and Manges (led by Ramona Nee). FUJIFILM was advised by Zyme Communications, according to press releases.
S2G-backed Pyx Health, a company focused on healthcare's most vulnerable, hard-to-reach populations, completed the acquisition of FarmboxRx, a healthcare food company that pioneered fresh fruits and vegetables as a covered health intervention, according to press releases. Financial terms were not disclosed.
FarmboxRx was advised by Oppenheimer & Co. Pyx Health was advised by Brownstein Hyatt Farber Schreck, according to press releases.
Mindgruve, a modern media, commerce, and data technology company, completed the merger with Levelwing, a strategy, creative, media, and predictive marketing analytics company, according to press releases. Financial terms were not disclosed.
Levelwing was advised by Madison Alley Global Ventures, according to press releases.
Snowflake, a cloud-based data storage company, agreed to acquire Crunchy Data, a provider of trusted open source PostgreSQL and enterprise PostgreSQL support, technology and training, for $250m, according to press releases.
Glynn Capital, Counterpoint Global, S32, SAIC, four investment firms, led a $100m Series C round in Infleqtion, a company actively commercializing atom-based quantum systems across computing, sensing, and precision timing, according to press releases.
Infleqtion was advised by JP Morgan and Voxus PR, according to press releases.
Palm Beach Capital led a financing round in Growve.
Palm Beach Capital, a private equity investment firm, led a financing round in Growve, health and wellness company specializing in vitamins, minerals, supplements and active nutrition, with participation from G-Bar Ventures and NMP Capital, according to press releases. Financial terms were not disclosed.
Growve was advised by Configure Partners and Greenberg Traurig, according to press releases.
Petronas is said to explore sale of $7bn Canadian business. ( Bloomberg)
Petronas, a Malaysian state energy firm, is considering options for its Canadian company formerly known as Progress Energy Resources, including a sale.
Petronas is working with a financial adviser on a potential disposal, which could value the Canadian business at $6bn to $7bn.
Vietnam firms to sign MoUs to buy $2bn of US farm produce. ( Reuters)
Vietnamese companies will sign agreements to purchase $2bn in US agricultural products as part of ongoing trade talks aimed at easing tensions and avoiding steep tariffs from the Trump administration.
The move comes amid US-Vietnam trade negotiations, with Vietnam seeking to reduce its $123bn trade surplus by boosting American imports.
Meta and Constellation partner on clean energy project. ( Press Release)
Meta has announced a 20-year corporate agreement with Constellation Energy to source nuclear power from the Clinton Clean Energy Center, supporting its regional operations.
This move is part of Meta’s broader strategy to invest in advanced energy technologies like nuclear and geothermal. The company is also finalizing selections from its ongoing nuclear request for proposals process to reach its goal of securing 1 to 4 gigawatts of nuclear energy.
Thoma Bravo, a major software investment firm, has closed fundraising for three buyout funds, securing over $34.4bn in total commitments. This includes $24.3bn for Fund XVI, $8.1bn for Discover Fund V, and €1.8bn ($2bn) for its first Europe-focused fund.
All funds exceeded their targets, with Fund XVI and the Europe Fund reaching their hard caps, and Discover Fund V growing commitments by over 30% compared to its predecessor.
The TCW Group has launched the TCW Private Asset Income Fund, an interval fund focused on private asset-backed finance, with over $450m in commitments.
The fund targets real-economy private lending, aiming to deliver strong risk-adjusted returns, steady income, and diversification. About 20% of the fund will be in liquid structured products to manage liquidity, and it seeks opportunities across the ABF market beyond traditional corporate credit.
EMEA
Salling Group, a Danish retail store chains operator, completed the acquisition of Rimi Baltic, a retail operator for Baltic states, from ICA Gruppen, a Swedish retail company with a focus on food and health, for €1.3bn ($1.48bn), according to press releases.
ICA Gruppen was advised by JP Morgan and Gernandt & Danielsson (led by Corinne Ekman), according to press releases.
Accel-KKR, a technology-focused investment firm, completed the investment in CareLineLive, a care management software company, according to press releases. Financial terms were not disclosed.
CareLineLive was advised by Full Story Media (led by Corinne Card). Accel-KKR was advised by Kekst CNC (led by Todd Fogarty), according to press releases.
Pandox, a hotel property company, and Eiendomsspar, a property management company, agreed to acquire Dalata Hotel Group, a hotel company, for €1.3bn ($1.48bn), according to press releases.
Pandox is advised by Goodbody (led by Andrew Hackney), according to press releases.
The Herbert Group, a fast food restaurant chain, completed the acquisition of Abbey Centre, a shopping mall, from NewRiver, a property investment company, for £59m, according to press releases.
NewRiver was advised by FTI Consulting (led by Dido Laurimore), according to press releases.
ALTÉRRA, an investment vehicle, completed a €50m ($57m) investment in Absolute Energy, an innovative Italian renewable energy platform, with participation from I Squared Capital, according to press releases.
ALTÉRRA was advised by Edelman, according to press releases.
TotalEnergies, a global integrated energy company, completed the acquisition of solar and battery projects, from Low Carbon, a renewable energy company, according to press releases. Financial terms were not disclosed.
Hims & Hers, a health and wellness platform, agreed to acquire ZAVA, a digital health platform, according to press releases. Financial terms were not disclosed.
Linse Capital, a growth equity firm, led a $300m Series C round in Impulse Space, an in-space transportation services provider, with participation from DFJ Growth, Valor Equity Partners, Founders Fund, Lux Capital, RTX Ventures, DCVC, Airbus Ventures, Spring Tide, First Principles Group, Balerion Space Ventures, Tamarack Global and Trousdale Ventures, according to press releases.
UK medical robotics company aims for $4bn sale. ( FT)
CMR Surgical, a UK-based medical device company founded in 2014, has put itself on the market, seeking a valuation of up to $4bn.
The company, known for its surgical robotics, recently brought on advisers to lead the sale process, aiming to attract major strategic buyers.
Merck held talks to buy Swiss biotech MoonLake for more than $3bn. ( FT)
Merck has held discussions to acquire Swiss biotech firm MoonLake Immunotherapeutics in a deal valued at over $3bn after the initially declined nonbinding offer made earlier this year.
The approach comes ahead of key late-stage trial results for MoonLake’s leading drug, strengthening its position for a potential sale. However, there is no certainty that the deal will be finalized, and other potential buyers could emerge.
Thames Water has announced that US firm KKR, previously chosen as the preferred partner in its equity raise process, will no longer proceed with a deal, ending its preferred status.
Thames Water will now focus on the recapitalization plan proposed by its senior creditors and will engage with Ofwat and other stakeholders to advance it.
NextEnergy Solar said to have rejected bid from Foresight. ( Bloomberg)
NextEnergy Solar Fund has declined a takeover offer from Foresight Solar Fund, ending discussions in May on a potential £800m ($1.1bn) merger that would have formed a major London-listed infrastructure fund.
Foresight had earlier noted the talks had ceased without naming the target. Additionally, NextEnergy Solar announced that its Chairwoman, Helen Mahy, is stepping down.
Novo Banco shareholders to vote on steps for €1bn IPO. ( Bloomberg)
Novo Banco shareholders are set to meet on June 4 to vote on preliminary steps for a potential IPO.
While no final decision on a share sale will be made yet, the agenda includes approving stock exchange listing and amending the bank’s articles of association - key prerequisites for proceeding with an IPO.
APAC
Legrand, a multinational supplier of products and systems for electrical and digital building infrastructures, agreed to acquire Linkk Busway Systems, a designer and manufacturer of bus duct trunking systems, according to press releases. Financial terms were not disclosed.
Legrand is advised by TBWA Worldwide (led by Lucie Daudigny), according to press releases.
Lummus Technology, a technology licensor of proprietary gas processing, refining, and petrochemical and coal gasification technologies, completed the acquisition of NAPCON, a proprietary digital technology solutions provider, from Neste, an oil refining and marketing company, according to press releases. Financial terms were not disclosed.
JSW Neo Energy seeks $675m loan for O2 Power deal. ( Bloomberg)
Deutsche Bank and Mitsubishi UFJ Financial Group are leading the five-year loan arrangement, which is now being syndicated to other investors.
Toyota Group plans to privatize Toyota Industries through a tender offer led by Toyota Fudosan, with support from Toyota Motor, AISIN, DENSO, and Toyota Tsusho.
The move aims to strengthen Toyota Industries’ focus on logistics technologies and align with Toyota Group’s broader transformation into a mobility-focused company.
India considers easing bank ownership rules as foreign interest grows. ( Reuters)
India’s central bank is considering easing foreign ownership rules for banks to attract more long-term capital and support economic growth.
Recent events, like Japan’s Sumitomo Mitsui buying 20% of Yes Bank and foreign investors vying for a majority stake in IDBI Bank show the interest in India’s fast-growing economy and underdeveloped banking sector.
Ping An Insurance seeks $1.5bn in convertible bonds. ( Bloomberg)
Ping An Insurance is set to raise HKD11.8bn ($1.5bn) through the sale of convertible bonds tied to its Hong Kong-listed shares. This marks the company's second convertible bond issuance in less than a year.
The bonds, which offer no interest payments, will mature in 2030. Ping An plans to use the funds to grow its core operations, invest in healthcare and elderly-care ventures, and bolster its financial position.
Philippine fintech GCash to split stocks ahead of possible IPO. ( Bloomberg)
Globe Fintech Innovations, the operator of the Philippines' leading mobile wallet GCash, has approved a stock split as it prepares for a potential IPO.
The company will lower the par value of its common shares from PHP1 ($0.02) to PHP0.03 ($0.0005) and increase its authorized common shares from 2.15bn to 71.7bn.
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