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Top Highlights
CapVest, a mid-market private equity firm, completed the acquisition of a majority stake in STADA, a healthcare and pharmaceuticals company specializing in consumer healthcare, generics and specialty pharmaceuticals, from Bain Capital and Cinven, a private equity companies, at a €10bn ($11.5bn) valuation, according to press releases.
STADA was advised by Jefferies & Company, POELLATH (led by Benedikt Hohaus) and FGS Global (led by Simon Steiner). CapVest was advised by Canson Capital Partners (led by Matteo Canonaco), Centerview Partners, PJT Partners, Societe Generale, Cuatrecasas Goncalves Pereira (led by Marco Antonio Sanz Perez), Willkie Farr & Gallagher (led by David Arnold, Andrew Gray, Nils Rover and Georg Linde), Wolf Theiss and Reputation Inc (led by Ben Valdimarsson). Bain Capital was advised by Ernst & Young, Morgan Stanley, Rothschild & Co (led by Stefano Beschi) and Community Group (led by Roberto Patriarca). Cinven was advised by JP Morgan and FGS Global (led by Claudia Kosser and Anna Sperber), according to press releases and MergerLinks data.
Sevita, a provider of home and community-based specialty health care, completed the acquisition of ResCare Community Living, a company that assists adults and children with daily living due to developmental, cognitive, or intellectual disabilities, from BrightSpring Health Services, a provider of home and community-based pharmacy and health services for complex populations, for $835m, according to press releases.
Sevita was advised by Barclays, Goldman Sachs, Jefferies & Company and Kirkland & Ellis. BrightSpring Health Services was advised by Guggenheim Partners, Leerink Partners, Polsinelli, Simpson Thacher & Bartlett, Gilmartin Group and H/Advisors Abernathy, according to press releases and MergerLinks data.
Biogen, a developer, manufacturer, and provider of therapies, focusing on neurology, oncology, and immunology, agreed to acquire Apellis, a global biotechnology company focused on developing targeted C3 therapies for complement-driven diseases, for $5.6bn, according to press releases
Biogen is advised by Lazard, Cravath Swaine & Moore and Arnold & Porter Kaye Scholer. Apellis is advised by Evercore, Wachtell Lipton Rosen & Katz and WilmerHale, according to press releases.
AMERICAS
Apollo nears $10bn acquisition of Atlantic Aviation from KKR. ( Bloomberg)
OpenFX raises $94m to expand stablecoin payments. ( Reuters)
Carlyle plans defense-focused investment fund. ( Bloomberg)
Blackstone launches hedge fund for affluent investors. ( Bloomberg)
EMEA
Eutelsat in talks with ISRO on satellite launches. ( Reuters)
Ghana limits buyers for Gold Fields mine to local firms. ( Bloomberg)
TK Elevator explores IPO amid takeover interest. ( Bloomberg)
APAC
Private equity targets fast food assets in Japan. ( Bloomberg)
Nxtra to raise $1bn at $3.1bn valuation. ( Reuters)
Blackstone plans $500m IPO of AGS Health in India. ( Bloomberg)
Syngenta boosts profit ahead of potential Hong Kong IPO. ( Bloomberg)
Japanese investors back $147m Africa-focused VC fund. ( Bloomberg)
China targets offshore trusts in tax crackdown. ( Bloomberg)
JP Morgan sees resilient IPO demand in Australia. ( Bloomberg)
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AMERICAS
REPAY, a financial technology company providing integrated payment processing solutions, agreed to acquire KUBRA, a provider of bill payment and customer communication management solutions, for $372m, according to press releases.
REPAY is advised by Truist Securities and Troutman Pepper Locke. Debt financing is provided by Truist Bank. KUBRA is advised by Financial Technology Partners, Clifford Chance and Hearst, according to press releases.
Gresham House, a specialist alternative asset manager, agreed to acquire Molpus Woodlands Group, a timberland investment management organization, according to press releases. Financial terms are not disclosed.
Gresham House is advised by Deloitte, Eversheds Sutherland and Prosek Partners. Molpus Woodlands Group is advised by Morgan Lewis & Bockius, Moelis & Co and Bradley Arant Boult Cummings, according to press releases.
Sun Life Financial-backed Bell Partners, a provider of multifamily asset and property management services, agreed to merge with BGO, a global real estate investment management advisor, according to press releases. Financial terms were not disclosed.
Bell Partners is advised by Morgan Stanley, Hogan Lovells and Allison Worldwide. BGO is advised by Akrete (led by Nicole Stenclik). Sun Life Financial is advised by PJT Partners and Paul Weiss Rifkind Wharton & Garrison, according to press releases.
Eli Lilly and Co, a pharmaceutical company that discovers, develops, manufactures and sells human and animal medicines, agreed to acquire Centessa Pharmaceuticals, a clinical-stage biotech company specializing in orexin receptor 2 agonists to treat sleep-wake disorders like narcolepsy and idiopathic hypersomnia, for $7.8bn, according to press releases.
Eli Lilly and Co is advised by Morgan Stanley and Kirkland & Ellis. Centessa Pharmaceuticals is advised by Jefferies & Company, Centerview Partners, and Goodwin Procter.
Carlyle, an American multinational private equity firm, agreed to acquire a majority stake in MAI Capital Management, a full-service wealth manager and registered investment adviser, from Galway Holdings, a financial services platform and holding company, Harvest Partners, and Oak Hill Capital, private equity firms, at a $2.8bn valuation, according to press releases.
Carlyle is advised by Simpson Thacher & Bartlett. Harvest Partners is advised by Lambert & Co (led by Jennifer Hurson). MAI Capital Management is advised by Ardea Partners, Kirkland & Ellis, and StreetCred PR (led by Jimmy Moock), according to press releases.
Fidelity Bank, a community-focused bank established in Fuquay-Varina, agreed to acquire Affinity Bank, a community bank focusing on small business, dental, and construction loans, for $142.8m, according to press releases.
Fidelity Bank is advised by Raymond James and Ward and Smith. Affinity Bank is advised by Luse Gorman and Performance Trust Capital Partners, according to press releases.
Inflexion, a mid-market private equity firm, investing in established high growth businesses, agreed to acquire Marioff, a global pioneer in high-pressure water mist fire suppression technology, from Sentinel Capital Partners, a private equity, according to press releases. Financial terms were not disclosed.
Sentinel Capital Partners is advised by Citigroup, JP Morgan, Kirkland & Ellis and Broadgate Consultants (led by Roland Tomforde), according to press releases.
TA Associates, a global private equity company focused on scaling growth in profitable companies, completed the investment in iBase-t, a provider of manufacturing execution system and quality management solutions for complex discrete manufacturing industries, according to press releases. Financial terms were not disclosed.
iBase-t was advised by Centerview Partners and Fenwick & West. TA Associates was advised by Lazard and Simpson Thacher & Bartlett, according to press releases.
American Exchange Group, a global design, marketing, distribution, and innovation company that partners with fashion icons to produce fashion products, agreed to acquire the intellectual property and assets of Allbirds, a New Zealand-American footwear company that uses a direct-to-consumer approach and is aimed at designing environmentally friendly footwear, for $39m, according to press releases.
Allbirds is advised by TD Cowen and Holland & Hart, according to press releases.
Boardwalk Pipelines, an oil and gas company, agreed to acquire marketing business unit of Spire, a natural gas utility company that provides natural gas services to residential, commercial, and industrial customers, according to press releases. Financial terms were not disclosed.
Boardwalk Pipelines is advised by Barclays and GableGotwals, according to press releases.
2PointZero-backed ePointZero, a global integrated energy investment platform, agreed to acquire Traverse Midstream Holdings, a midstream assets company, for $2.25bn, according to press releases.
ePointZero is advised by JP Morgan, according to press releases.
Vitalist, a wearable operating-system-focused technology company, agreed to merge with Somatix, a New York-based medical technology company focused on AI-powered remote patient monitoring, according to press releases. Financial terms were not disclosed.
Vitalist is advised by IMS Investor Relations, according to press releases.
Thompson Street Capital Partners-backed ATIS, a provider of vertical transportation inspections, consulting, and managed services, completed the acquisition of Vinspec, a provider of elevator and escalator consulting, engineering, inspection services and in-service safety examinations, according to press releases. Financial terms were not disclosed.
Thompson Street Capital Partners was advised by Gregory FCA, according to press releases.
Collaborative Fund, a venture capital firm, led a $575m Series G funding round in WHOOP, the human performance company, with participation from 2PointZero Group, Qatar Investment Authority (QIA), Mubadala Investment Company, Abbott, Mayo Clinic, Macquarie Capital, Glade Brook, B-Flexion, IVP, Foundry, Accomplice, Affinity Partners, Promus Ventures, and Bullhound Capital, according to press releases.
Apollo nears $10bn acquisition of Atlantic Aviation from KKR. ( Bloomberg)
Apollo Global Management is close to acquiring Atlantic Aviation from KKR in a deal valuing the business at nearly $10bn.
Apollo is partnering with GIC to buy a majority stake, while KKR is expected to retain a significant minority interest.
OpenFX raises $94m to expand stablecoin payments. ( Reuters)
OpenFX has raised $94m in a funding round led by Accel, Atomico, Lightspeed Faction and others to support its cross-border payments platform.
The startup is focusing on stablecoins to improve speed and reduce costs in foreign-exchange and remittance transactions.
Carlyle plans defense-focused investment fund. ( Bloomberg)
Carlyle is preparing to launch a fund targeting defense investments as governments increase military spending.
The firm has begun discussions with investors, positioning the strategy around reindustrialization and expansion of industrial capacity.
Blackstone launches hedge fund for affluent investors. ( Bloomberg)
Blackstone is launching its first hedge fund targeting high-net-worth individuals as it expands access to alternative investments.
The fund will focus on liquid strategies across credit, equities and special situations, with a portion allocated to other hedge funds.
EMEA
Bregal Milestone-backed Allshares, a global, Nordics-based fintech company specializing in digital equity management and incentive programs for private and public companies, completed the acquisition of Amalia, a France-based company specializing in sales commission and performance management software, according to press releases. Financial terms were not disclosed.
Eutelsat in talks with ISRO on satellite launches. ( Reuters)
Eutelsat is in discussions with India’s space agency ISRO to secure additional satellite launch options as it looks to diversify providers.
The talks are ongoing and no agreement has been reached.
Ghana limits buyers for Gold Fields mine to local firms. ( Bloomberg)
Ghana will restrict the sale of Gold Fields’ Damang mine to locally owned companies as it prepares to take control of the asset.
The move follows the government’s decision not to renew the lease and to transition ownership to domestic investors.
TK Elevator explores IPO amid takeover interest. ( Bloomberg)
TK Elevator is considering an IPO among strategic options as its private equity owners evaluate exit routes.
The company has also attracted takeover interest, with discussions previously held with Kone and a potential valuation of up to €25bn ($28bn).
APAC
DigitalBridge, a global digital infrastructure investment firm, and JEXI, an investment advisory company, completed the acquisition of data center assets of NEC Corporation, an information technology and electronics company, according to press releases. Financial terms were not disclosed.
DigitalBridge was advised by Joele Frank (led by Alexander Wolfsohn), according to press releases.
Japan Post Insurance, a Japanese life insurance company that offers a wide range of life insurance products, completed the acquisition of a minority stake in Hoken Minaoshi Hompo Group, a company focused on insurance distribution and customer-facing insurance advisory services in Japan, from KKR, an investment firm. Financial terms were not disclosed.
Private equity targets fast food assets in Japan. ( Bloomberg)
Private equity firms are increasing investments in Japan’s fast food sector, with deals including Carlyle’s $595m acquisition of KFC Japan and Goldman Sachs’ purchase of Burger King operations.
Additional assets such as Wendy’s Japan are being explored as investors seek exposure to the market.
Nxtra to raise $1bn at $3.1bn valuation. ( Reuters)
Bharti Airtel-owned Nxtra Data is set to raise $1bn from investors including Alpha Wave Global, Carlyle, Anchorage Capital and its parent.
The deal reflects growing investment in data center infrastructure as India positions itself as a hub for AI development.
Blackstone plans $500m IPO of AGS Health in India. ( Bloomberg)
Blackstone is discussing a potential IPO of its AGS Health unit in Mumbai that could raise up to $500m.
The firm has begun talks with banks and is expected to appoint advisers, with the offering likely to include primary and secondary shares.
Syngenta boosts profit ahead of potential Hong Kong IPO. ( Bloomberg)
Syngenta has increased earnings as it prepares for a potential IPO in Hong Kong, focusing on higher-margin businesses.
The company reported EBITDA of $4.4bn, up 13%, despite a slight decline in sales following its exit from lower-margin activities.
Japanese investors back $147m Africa-focused VC fund. ( Bloomberg)
Japanese companies including Mitsubishi, Sumitomo Mitsui Banking and Toyota Ventures have backed a $147m venture fund targeting African startups.
The Novastar Ventures vehicle also attracted support from SBI Holdings, Mitsui OSK Lines and JICA as interest in the region grows.
China targets offshore trusts in tax crackdown. ( Bloomberg)
Chinese authorities are tightening oversight of offshore trusts used by ultra-wealthy investors, requiring disclosure of investment gains and financial details.
The move expands enforcement across regions including Jiangsu and Shenzhen as regulators seek to increase tax compliance on overseas holdings.
JP Morgan sees resilient IPO demand in Australia. ( Bloomberg)
JP Morgan says Australia’s IPO pipeline remains strong despite market volatility and geopolitical uncertainty.
The bank highlighted continued investor interest in high-quality listings as deal activity holds up.
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