Clearlake Capital to acquire 25.6% stake in Chelsea FC from Todd Boehly and Mark Walter.

Read on...

Scroll down to read deal descriptions. Your suggestions and comments support the democratisation of M&A data. If you'd like to contribute to the future editions, drop us a line.

AMERICAS

May Mobility to go public via SPAC merger with ACP Holdings Acquisition Corp. at $1.4bn valuation.

May Mobility, a developer of an autonomous technology intended to offer accessible self-driving transportation, agreed to go public via SPAC merger with ACP Holdings Acquisition Corp., a publicly traded special purpose acquisition company, at $1.4bn valuation, according to press releases.

May Mobility is advised by Latham & Watkins (led by Ryan Lynch, Tad Freese and Haim Zaltzman). ACP Holdings Acquisition Corp. is advised by Cantor Fitzgerald and DLA Piper. Cantor Fitzgerald is advised by O'Melveny & Myers, according to press releases.

Bank7 to acquire a 71% stake in Century Financial Services for $91m.

Bank7, a banking organization focused on commercial and retail financial services, agreed to acquire a 71% stake in Century Financial Services Corporation, New Mexico-based bank holding company for Century Bank, for $91m, according to press releases.

Century Financial Services is advised by MJC Partners and Otteson Shapiro. Bank7 is advised by Nelson Mullins Riley & Scarborough and Keefe Bruyette & Woods, according to press releases.

Niobrara Capital completes the acquisition of MSP Corp from a consortium of investors.

Niobrara Capital, a private equity investment firm, completed the acquisition of MSP Corp, a provider of information technology (IT) services, from a consortium of investors consisting of Alfar Capital, Walter Capital Partners, and BDC Capital, according to press releases. Financial terms were not disclosed.

Niobrara Capital was advised by Gagnier Communications. MSP Corp was advised by Grant Thornton and Canaccord Genuity. Alfar Capital, Walter Capital Partners, and BDC Capital were advised by Canaccord Genuity and Fasken, according to press releases.

Berkshire Partners completes an investment in TowerNorth.

Berkshire Partners, a private equity firm, completed an investment in TowerNorth, an independent developer, owner, and operator of mission critical wireless infrastructure, according to press releases. Financial terms were not disclosed.

Berkshire Partners was advised by Guggenheim Partners, Croke Fairchild Duarte & Beres, Kirkland & Ellis and Edelman, according to press releases.

Silversmith Capital Partners completes a $100m investment in Vantora.

Silversmith Capital Partners, a growth equity investment firm, completed a $100m investment in Vantora, a venture-building platform that partners with global industrial enterprises to co-create high-impact, AI-native operating companies, according to press releases.

Vantora was advised by Dorsey & Whitney. Silversmith Capital Partners was advised by Mintz Levin, according to press releases.

Daiwa House to acquire 30% stake in Miller Homes from Apollo Global Management.

Daiwa House, a company that designs and builds residential, commercial, and institutional buildings, to acquire 30% stake in Miller Homes, a developer of residential buildings and apartments, from Apollo Global Management, an alternative investment manager, according to press releases. Financial terms were not disclosed.

Apollo Global Management is advised by Rothschild & Co, A&O Shearman and Paul Weiss Rifkind Wharton & Garrison, according to press releases.

Lightstorm Vision completes the acquisition of Outsyders.

Lightstorm Vision, a cutting-edge 3D and virtual reality technology company, completed the acquisition of Outsyders, a creative-tech collective specializing in artist-centric AI-powered stereoscopic post production and next-generation platform experiences, according to press releases. Financial terms were not disclosed.

Outsyders was advised by NRPR Group (led by Nicole Rodrigues). Lightstorm Vision was advised by Ingenuity Group (led by Ina Treciokas), according to press releases.

Valsoft Corporation completes the acquisition of Mirus.

Valsoft Corporation, a Montreal-based company specializing in the acquisition and development of vertical market software businesses, completed the acquisition of Mirus, a Houston, Texas-based provider of restaurant intelligence and data management software, according to press releases. Financial terms were not disclosed.

Mirus was advised by Ponterra Business Advisors and DuBois Bryant & Campbell, according to press releases.

Forbion led a $123m Series C round in Sling Therapeutics.

Forbion, a global venture capital and growth equity firm, led a $123m Series C round in Sling Therapeutics, a clinical-stage biopharmaceutical company, with participation from TPG Life Sciences Innovations and Sectoral Asset Management, according to press releases.

Sling Therapeutics was advised by 1AB (led by Amanda Lazaro), according to press releases.

Main Capital Partners to acquire Watermark Insights.

Main Capital Partners, an investment management company, to acquire Watermark Insights, a provider of integrated educational intelligence software platform, according to press releases. Financial terms were not disclosed.

Watermark Insights is advised by Moelis & Co, according to MergerLinks data.

Moore Strategic Ventures and Coreline Ventures led a $114m Series D round in CADDi.

Moore Strategic Ventures and Coreline Ventures, a venture capital firms, led a $114m Series D round in CADDi, a global manufacturing technology company, with participation from HR Tech Fund, Woven Capital, and Salesforce Ventures, Atomico, Globis Capital Partners and JPS Growth Investment, according to press releases.

SCF Partners completes the acquisition of American Piping Products.

SCF Partners, a private equity firm, completed the acquisition of American Piping Products, a distributor of piping products intended to serve the sectors such as energy, manufacturing, fabrication and construction industries, according to press releases. Financial terms were not disclosed.

MMG hit with EU antitrust warning over nickel deal with Anglo American. (Reuters)

MMG has faced an EU antitrust warning over its plan to acquire Anglo American’s Brazilian nickel business, with regulators concerned the deal could divert low-carbon ferronickel supplies away from European stainless steel producers.

The European Commission has formally raised objections, increasing pressure on MMG to offer stronger commitments to secure approval. MMG has proposed long-term supply guarantees for European customers, while Anglo American has defended the transaction.

Beretta Holding to raise stake in Sturm, Ruger to 25%. (Reuters)

Beretta Holding is set to launch a bid to increase its stake in US firearms maker Sturm, Ruger to 25% from 9.93%.

The Luxembourg-based holding, which owns Beretta, could appoint two board members at Ruger following the stake increase.

Nuclear power services firm Holtec postpones planned US IPO. (Bloomberg)

Holtec Nuclear has postponed its planned US initial public offering, which had been expected to price on September 17th.

The Camden, New Jersey-based nuclear services provider said it will continue to evaluate the timing of the offering, with a future listing still under consideration.

Bain Capital Ventures raises $1.6bn for life after AGI. (Bloomberg)

Bain Capital Ventures has raised $1.6bn for a new fund targeting early-stage startups focused on the next phase of artificial intelligence.

The fund, slightly larger than its $1.4bn predecessor, will invest in companies spanning AI infrastructure, the physical world, security and services, including customer support and information technology applications.

SK Hynix is exploring options after report of Intel tie-up. (Bloomberg)

SK Hynix is exploring options to strengthen its global competitiveness, following reports that it could partner with Intel to manufacture semiconductors in the US.

The South Korean memory-chipmaker said it has not made a decision on a potential deal, which could involve leasing part of Intel’s planned Ohio chipmaking facility or forming a joint venture with Intel and major cloud companies.

EMEA

S&P Global to acquire OpenZeppelin.

S&P Global, a provider of financial and analytical services, agreed to acquire OpenZeppelin, the security standard for onchain finance, according to press releases. Financial terms were not disclosed.

OpenZeppelin is advised by Financial Technology Partners and Cooley. S&P Global is advised by Jefferies & Company and Clifford Chance, according to press releases.

Gemspring Capital-backed TRG completes the acquisition of Vista Technology Support from LDC.

Gemspring Capital-backed TRG, a global managed services provider specializing in enterprise mobility, industrial mobility, and technology solutions, completed the acquisition of Vista Technology Support, a provider of managed IT support, service desk and IT project services, from LDC, a UK-based private equity firm focused on mid-market investments, according to press releases. Financial terms were not disclosed.

TRG was advised by Jones Day. Vista Technology Support and LDC were advised by Gambit Corporate Finance and Blake Morgan, according to press releases.

ADES completes the acquisition of shallow water drilling activities in Saudi Arabia of Saipem for $285m.

ADES, an international provider of oil and gas drilling services, completed the acquisition of shallow water drilling activities in Saudi Arabia of Saipem, an Italian oilfield services company, for $285m, according to press releases.

Saipem was advised by Moelis & Co and Clifford Chance, according to press releases.

HR Path completes the acquisition of ModusForce.

HR Path, a company specializing in HR consulting, digital transformation, and payroll outsourcing, completed the acquisition of ModusForce, a provider of specialist Dayforce implementation and optimisation consulting services for mid-size to large enterprises with HR, payroll and workforce management needs, according to press releases. Financial terms were not disclosed.

Data center cooling systems maker Güntner to weigh sale. (Bloomberg)

Güntner, a family-owned German manufacturer of cooling systems, is weighing a sale that could value the business at more than €1bn ($1.2bn).

The company is working with an adviser to gauge interest from strategic and financial buyers, with Advent, Blackstone, Cinven and KKR among the private equity firms exploring a potential deal. Preliminary bids were due this week, though talks may not result in a transaction.

Air France-KLM to offer group shares as part of TAP bid. (Bloomberg)

Air France-KLM is willing to offer Portugal a stake in the airline group as part of its bid for TAP, as it seeks to strengthen its proposal against rival bidder Lufthansa.

The French-Dutch group has told the Portuguese government it would be open to the state taking shares in Air France-KLM as part of a transaction, potentially giving Portugal influence in one of Europe’s major airline groups.

KKR to be preferred bidder for Portugal's Logoplaste. (Bloomberg)

KKR has emerged as the preferred bidder to acquire Portuguese packaging maker Logoplaste.

The US private equity firm is in exclusive talks with Logoplaste’s owners after Apax Partners dropped out of the process. A deal could be reached in the coming weeks, though discussions remain ongoing.

Six bidders invited to submit non-binding offers for Azores Airlines. (Reuters)

Portugal's SATA Holding has short-listed six investors to submit non-binding offers for a minimum 75% stake in subsidiary Azores Airlines by September 21.

The airline's privatisation is part of a restructuring plan for the SATA group approved by the European Commission. SATA Holding, owned by the Azores regional government, did not disclose the names of the six shortlisted investors.

Sazerac is in talks to buy German schnapps maker Berentzen. (Bloomberg)

Sazerac is in talks to acquire German spirits maker Berentzen-Gruppe, as the US liquor company seeks to expand its brand portfolio in Europe.

Berentzen confirmed it had entered negotiations with Sazerac, which owns brands including Southern Comfort and Buffalo Trace. The potential acquisition would mark Sazerac’s second deal in Europe in September, with talks ongoing and no final agreement reached.

PF Holdings launches tender offer for Italy's Pininfarina shares. (Reuters)

PF Holdings, a Dutch special purpose vehicle owned by Tech Mahindra and Mahindra & Mahindra, has launched a voluntary tender offer for shares of Italian design group Pininfarina.

PF Holdings, which already owns 78.8% of Pininfarina, is offering €1 ($1.18) per share in cash for up to 16.7m shares, representing 21.2% of the company. The offer, which carries an about 18% premium to Pininfarina’s last close, aims to delist the company from Euronext Milan.

Hy24, COFIDES to buy 29% stake in Moeve's green hydrogen project in southern Spain. (Reuters)

Hy24 and Spanish public-private financial institution COFIDES have agreed to acquire a combined 29% stake in Moeve's Onuba renewable hydrogen project in southern Spain.

Moeve will retain a 51% majority stake, while Enagás Renovable, Alter Enersun, Hy24 and COFIDES will hold minority interests in the project.

RWE buys 3% more in M31, lifts its Amprion stake to about 58%. (Reuters)

RWE has acquired an additional 3% stake in M31, which holds about three-quarters of transmission system operator Amprion, increasing RWE’s pro-rata stake in Amprion to roughly 58%.

The acquisition makes RWE the majority shareholder of M31, strengthening its position in the German power transmission operator.

Tankmaker KNDS said it is considering delaying IPO. (Bloomberg)

KNDS is considering delaying its initial public offering, potentially pushing one of Europe’s most anticipated listings beyond 2026.

The Franco-German defense company has been discussing its IPO plans with the banks advising on the listing, with sluggish performance among listed defense stocks, including Rheinmetall, cited as a reason to wait. Talks are ongoing, and the timing of the IPO could still change.

US DFC approves €85m loan to Ukraine's DTEK. (Reuters)

The US International Development Finance Corporation has approved a €85m ($97.5m) loan to Ukraine’s largest private energy company, DTEK, to expand its battery storage capacity.

The financing marks the DFC’s largest loan for Ukraine’s energy sector since Russia’s full-scale invasion began in 2022.

APAC

Manus eyes $4bn value in the first round since Meta breakup. (Bloomberg)

Manus, the Chinese-founded AI startup, is set to raise $500m at a $4bn valuation in its first funding round since Beijing ordered it to separate from Meta Platforms.

The financing would double Manus’ valuation and make it one of China’s most valuable startups focused on agentic AI. Existing backers include Tencent, HSG and ZhenFund, while the identities of new investors remain unclear. Terms are still being finalized and could change.

Daily Review

Connect the World of Dealmakers