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AMERICAS
SK Capital, a private investment firm, completed the acquisition of Spectra Confectionery, a Canadian decorative toppings and confectionary products manufacturer. Financial terms were not disclosed.
Spectra Confectionery was advised by Coldwater Corporate Finance. SK Capital was advised by Cascadia Capital and BackBay Communications (led by Jeremy Milner). Debt financing was provided by MidStar Capital and Stellus Capital Management.
Private equity firms Mubadala Investment Company, Norwest and HarbourVest, agreed to acquire a minority stake in Zelis, a provider of healthcare technology solutions, from private equity firms Parthenon and Bain Capital. Financial terms were not disclosed.
Zelis is advised by Goldman Sachs, JP Morgan and Kirkland & Ellis. Mubadala is advised by Evercore and Akin Gump Strauss Hauer & Feld.
VSE, a provider of aftermarket distribution and repair services, completed the acquisition of Kellstrom Aerospace, a full-service aftermarket solutions provider of value-added distribution and technical services for the commercial aerospace engine aftermarket, from AE Industrial Partners, a private equity firm. Financial terms were not disclosed.
Kellstrom Aerospace was advised by Perella Weinberg Partners and Kirkland & Ellis. VSE was advised by Jefferies & Company and Jones Day (led by Lorne Cantor, Luis Velez and Joel May).
Roosevelt Resources, an oil and gas company, agreed to acquire Arcadia Biosciences, an agricultural biotechnology company. Financial terms were not disclosed.
Arcadia Biosciences is advised by Lake Street and Weintraub Tobin. Roosevelt Resources is advised by ROTH Capital Partners and Jones & Keller.
TPG, a private equity firm, led a $2bn investment in Veeam, an IT services firm, with participation from Temasek and Neuberger Berman.
Veeam is advised by Morgan Stanley and Willkie Farr & Gallagher.
Blackstone Products, a manufacturer of outdoor griddles and cooking accessories, agreed to merge with Weber, a manufacturer of outdoor cooking equipment. Financial terms were not disclosed.
Blackstone Products is advised by JP Morgan and Houlihan Lokey.
Alpine Intel, an insurance solutions provider, completed the acquisition of The Robison Group, an agency of professional investigators and support teams offering surveillance, SIU claims, business risk mitigation and comprehensive desktop investigation services. Financial terms were not disclosed.
The Robison Group is advised by Schwartz & Co. Alpine Intel is advised by Robinson Bradshaw.
Private equity firms Future Positive and Lowercarbon Capital led a $150m Series B round in Heirloom, a direct air capture company, with participation from Japan Airlines, Mitsubishi Corporation, Mitsui, MOL Switch, Quantum Innovation Fund, Siemens Financial, Ahren Innovation Capital, Breakthrough Energy Ventures, Carbon Direct Capital and MCJ Collective.
Heirloom was advised by JP Morgan.
Insight Partners, a private equity firm, led a $106m Series C round in Cleerly, an AI-enabled digital care platform, with participation from Battery Ventures, a private equity firm.
Insight Partners was advised by Willkie Farr & Gallagher (led by Matthew Haddad).
Interpublic, an American marketing solutions and advertising company, completed the acquisition of Intelligence Node, an eCommerce intelligence platform providing real-time retail analytics solutions. Financial terms were not disclosed.
Intelligence Node was advised by Ernst & Young.
Mubadala Capital, an alternative asset management subsidiary of Mubadala Investment Company, agreed to acquire a 42% stake in Silver Rock, a credit-focused asset management firm. Financial terms were not disclosed.
Vitol, Glencore eye New Fortress’ Jamaica LNG assets. ( Press Release)
Vitol Group and Glencore are considering acquiring New Fortress Energy's Jamaican gas-import terminals.
New Fortress, which has faced major project delays and recently refinanced more than $2bn in debt, has hired Lazard and Intrepid Financial Partners to explore divestment of some of its LNG operations.
Historically, Glencore has worked with Citigroup, Morgan Stanley, Linklaters and McCarthy Tétrault, according to MergerLinks data.
TPG explores $1.5bn-plus sale of gym chain Crunch Fitness. ( Reuters)
Buyout firm TPG is considering a potential sale of Crunch Fitness, which could value the gym chain at over $1.5bn, including debt.
TPG, which acquired Crunch Fitness through its small and mid-sized buyout arm, is collaborating with investment bank Jefferies on the sale process, expected to commence in the first half of next year.
Historically, TPG has worked with JP Morgan, Goldman Sachs, Latham & Watkins and Ropes & Gray, according to MergerLinks data.
Slim Jim maker Conagra exploring sale of Chef Boyardee. ( Reuters)
Conagra Brands, the Chicago-based food company known for Slim Jim beef jerky and Healthy Choice frozen meals, is exploring the sale of its popular canned pasta brand, Chef Boyardee.
The company has engaged investment bank Centerview Partners to evaluate interest in the brand, which could be valued at well over $500m.
Historically, Conagra Brands has worked with Goldman Sachs, Centerview Partners and Jones Day, according to MergerLinks data.
Real Estate firm Proprium Capital Partners explores a sale. ( Bloomberg)
Proprium Capital Partners, a real estate investment firm managing over $4bn in assets, is evaluating strategic options, including a potential sale.
The firm has engaged an adviser to reach out to prospective buyers. No final decisions have been made regarding the structure of any transaction, and Proprium may ultimately decide against pursuing a deal.
EMEA
The UK's Competition and Markets Authority has approved the £15bn ($19bn) merger of Three and Vodafone, creating the largest mobile network in the country.
Despite initial concerns that the deal could raise prices, the CMA's approval is conditional on significant investment in 5G infrastructure and adherence to legally binding targets.
Gersh, a global entertainment and sports agency, completed the acquisition of You First, a Spanish sports and entertainment agency. Financial terms were not disclosed.
You First was advised by Clearwater, CMS and Main Legal. Gersh was advised by Houlihan Lokey. Crestview Partners was advised by Davis Polk & Wardwell.
EQT, a Swedish private equity firm, agreed to acquire ju:niz Energy, a German advanced large-scale battery storage systems developer and operator. Financial terms were not disclosed.
EQT is advised by UBS, Gibson Dunn & Crutcher, Norton Rose Fulbright and McKinsey & Company.
FirstGroup, a British multi-national transport group, completed the acquisition of Grand Union Trains, a company holding track access rights for a new open access rail service between Carmarthen and London Paddington. Financial terms were not disclosed.
Derwent London, a British-based property investment and development business, completed the acquisition of the remaining 50% stake in Baker Street W1 scheme, from Lazari Investments, a property investmen t company in London, for £44.4m ($56m).
Derwent London was advised by Brunswick Group.
Oil and gas companies Shell and Equinor to form a joint venture to become the UK North Sea’s biggest independent producer. Financial terms were not disclosed.
Shell is advised by Jefferies & Company.
SVC, an investment company developing financing solutions for startups and SME, completed the investment in Aliph Fund I, a growth fund investing in mid-market companies across Saudi Arabia and Gulf Cooperation Council. Financial terms were not disclosed.
COH Sports, a consortium of investors, agreed to acquire Sheffield United, a UK-based professional football club. Financial terms were not disclosed.
Germany's BayWa targets $4.2bn in proceeds from asset sales. ( Press Release)
Germany’s BayWa is targeting €4bn ($4.2bn) in proceeds by selling most of its foreign assets by 2027, as the struggling agricultural group seeks to reduce its debt.
The Munich-based trader of farming supplies and produce has been hit by rising borrowing costs, forcing it to undergo a major restructuring, including job cuts, after posting a consolidated nine-month net loss of €640.8m ($672m).
Historically, BayWa has worked with Cuatrecasas Goncalves Pereira and CMS, according to MergerLinks data.
Amundi interested in buying Allianz Global Investors. ( Bloomberg)
Amundi, Europe’s largest asset manager, is exploring a potential acquisition of Allianz Global Investors as part of its strategy to pursue deals amid ongoing industry consolidation.
The French firm has been engaged in intermittent discussions with Allianz over several months, considering options such as a full takeover or a partnership that would allow Allianz to retain a significant stake in AGI.
Historically, Amundi has worked with Credit Agricole, Eight Advisory, De Pardieu Brocas Maffei and Allen & Overy, according to MergerLinks data.
Teleflex is in talks to buy German Biotronik’s stent unit. ( Bloomberg)
Teleflex is in discussions to acquire German medical technology firm Biotronik vascular intervention unit.
Teleflex is offering to buy the Biotronik business for €500m ($526m) to €1bn ($1.24bn). An agreement could be reached as soon as this month.
Historically, Teleflex has worked with Guggenheim Partners, JP Morgan, Simpson Thacher & Bartlett and Holland & Knight, according to MergerLinks data.
German industrial firm Pfisterer is said to mull Frankfurt IPO. ( Bloomberg)
Pfisterer Holding, a German producer of high-voltage cable insulators, is planning a potential initial public offering in Frankfurt next year.
The family-owned business is collaborating with advisers, including Commerzbank and Berenberg, to explore the possible deal.
APAC
A consortium of investors led by led by Starwood Capital Group, Sixth Street, QIA and SSW Partners, agreed to acquire ESR Group, a real estate services and investment company, for $7bn.
ESR Group is advised by Citigroup. The consortium of investors are advised by Deutsche Bank, Goldman Sachs, Morgan Stanley and UBS.
HMC Capital, an Australian alternative asset manager, agreed to acquire Victorian portfolio of Neoen, a French solar power plants, onshore wind farms and energy storage solutions provider, for AUD950m ($616m).
Neoen is advised by Havas and OPRG Financial (led by Fabrice Baron).
Bain Capital, a private investment firm, agreed to invest $157m in Mayapada Hospital, an Indonesian private hospital.
Mawar Setia, a Malaysian private company, agreed to acquire a majority stake in U Mobile, a Malaysian mobile telecommunications services provider, from ST Telemedia, an active investor in the communications, media and technology areas. Financial terms were not disclosed.
Hongkong Land is said to weigh sale of Singapore developer MCL. ( Bloomberg)
Hongkong Land, the Asian real estate group backed by Jardine Matheson, is exploring the sale of its wholly owned property development arm, MCL Land.
The Singapore-based company is being positioned for sale at a premium to its book value of SGD1.1bn ($820m). Hongkong Land is currently in discussions with potential financial advisers to assist in preparing for the transaction.
EQT bullish on investments, buyouts in India after exceeding target. ( DealStreetAsia)
Sweden’s private equity firm EQT has exceeded its targeted $5bn investment in India over the past few years, according to the head of its Asian business on December 5. The firm is focusing on buyouts and investments in India, where it continues to see robust deal activity and significant opportunities for international investors.
“We believe India is still an extremely attractive investment destination for international investors like us,” Jean Eric Salata, EQT Asia CEO and Chair.
Praemia REIM is said to consider Singapore healthcare REIT IPO. ( Bloomberg)
France’s Praemia REIM is weighing the launch of a health-care real estate investment trust in Singapore, aiming to contribute to a revival of the city-state’s subdued IPO market.
The REIT’s hospital assets are valued at $2bn to $3bn, with the firm potentially looking to raise several hundred million dollars through the initial share offering.
Drink maker Eastroc Beverage is said to weigh Hong Kong listing. ( Bloomberg)
Chinese energy drink maker Eastroc Beverage Group is exploring a potential listing in Hong Kong after shelving an earlier plan for a Swiss share sale.
Shanghai-listed Eastroc is in the process of hiring banks to assist with preparations for the offering, which could raise up to $1bn and may take place as early as next year.
Chinese cosmetics firm Mao Geping set to price shares at top of range in Hong Kong IPO. ( Reuters)
Chinese cosmetics company Mao Geping is poised to price its shares at the top of the indicated range, aiming to raise $270m through a Hong Kong initial public offering.
The firm is offering 70.6m shares, with a previously announced price range of HKD26.30 ($3.38) to HKD29.80 ($3.83) per share.
Nuveen makes $257m first close of Australian real estate debt strategy. ( DealStreetAsia)
Nuveen, a property investment manager, has raised over AUD400m ($257m) in the initial close of its inaugural commingled Australian commercial real estate debt strategy.
The first round of funding received commitments from the US-based Teachers Insurance and Annuity Association of America and Singapore's state investor, Temasek.
Historically, Nuveen has worked with Citigroup, Evercore, Latham & Watkins and Cooley, according to MergerLinks data.
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