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AMERICAS
Angeles Equity Partners, a private investment firm that partners with niche manufacturing, critical industrial services and specialty distribution, completed the acquisition of a majority stake in Solid Surface Care, a provider of specialty maintenance and restoration services, according to press releases. Financial terms were not disclosed.
Angeles Equity Partners was advised by Raymond James, Massumi + Consoli and GlobalMeet (led by Trent Waterhouse). Solid Surface Care was advised by Fieldstone Capital Partners and Womble Bond Dickinson, according to press releases.
Actis, an investment company, agreed to acquire three P3 assets in Colombia from Sacyr, a multinational infrastructure and services company, for $1.6bn, according to press releases.
Actis is advised by Santander and Brigard Urrutia. Sacyr is advised by Goldman Sachs, according to MergerLinks data and press releases.
Ferrovial, a transport infrastructure and urban services company, and CPP Investments, a global investment management organization, completed the acquisition of a 5.06% stake in 407 ETR, an all-electronic, barrier-free, 400-series toll highway located in Canada, from AtkinsRéalis, an engineering, procurement and construction services provider, for CAD1.99bn ($1.45bn), according to press releases.
AtkinsRéalis was advised by RBC Capital Markets and Norton Rose Fulbrigh, according to press releases.
Olympus Partners and Atlas Holdings-backed International Wire Group, a provider of a comprehensive range of wire products, agreed to acquire Hussey Copper, a supplier of copper products used in electrical infrastructure, from KPS Capital Partners, a private equity firm, according to press releases. Financial terms were not disclosed.
KPS Capital Partners and Hussey Copper are advised by Lazard and Paul Weiss Rifkind Wharton & Garrison (led by Angelo Bonvino and Daniel D. Fuschillo), according to press releases and MergerLinks data.
Apollo, an asset management firm, completed the investment in T.D. Williamson, a provider of pipeline infrastructure technology and services, according to press releases. Financial terms were not disclosed.
T.D. Williamson and SCF Partners were advised by Vinson & Elkins (led by William Matthew Strock). Apollo was advised by Kirkland & Ellis (led by Stephen Noh and Adam Larson), according to press releases and MergerLinks data.
Investment firms Omega Funds, Atlas Venture, Lightspeed Venture Partners, BVF Partners, and Cormorant Asset Management led a $177m Series A round in Antares Therapeutics, a biotechnology company developing first-in-class precision medicines for cancer and other serious diseases, with participation from Vinyanshu Ventures, Abingworth, Invus, Tenmile, Vida Ventures, and Willett Advisors, according to press releases.
Antares Therapeutics was advised by Precision AQ, according to press releases.
NEA, an American venture capital firm, led a $100m Series A round in Horizon3.ai, an autonomous computer and network security provider, with participation from SignalFire, Craft Ventures and 9Yards Capital, according to press releases.
Horizon3.ai was advised by SourceCode Communications (led by Ed Kraft), according to press releases.
Mitsubishi Estate, a real estate developer, agreed to acquire a majority stake in Patron Capital, an institutional investor, according to press releases. Financial terms were not disclosed.
Patron Capital is advised by SEC Newgate, according to press releases.
Webster Equity Partners, a private equity firm, completed the investment in Penn Quarter Partners, a research and investigative advisory, according to press releases. Financial terms were not disclosed.
Penn Quarter was advised by Clearsight Advisors, according to MergerLinks data.
Sixth Street, a global investment firm, completed the $200m investment in Wealthbox, a CRM software platform for financial advisors, according to press releases.
Wellington Management, an investment management company, led a $150m Series F round in Glean, an AI-powered work assistant, with participation from Khosla Ventures, Bicycle Capital, Geodesic Capital, Archerman Capital, Altimeter, Capital One Ventures, Citi, Coatue, DST Global, General Catalyst, ICONIQ, IVP, Kleiner Perkins, Latitude Capital, Lightspeed Venture Partners, Sapphire Ventures, and Sequoia Capital, according to press releases.
IVP and Google Ventures, a private equity firms, led a $100m Series C round in Laurel, an automated timekeeping software, with participation from DST Global, ACME, AIX Ventures, Anthos and TIME Ventures.
Parthenon Capital-backed MRO, a clinical data exchange company in healthcare, completed the acquisition of Q-Centrix, an enterprise clinical data management platform, from TPG Growth, a middle market and growth equity platform, according to press releases. Financial terms were not disclosed.
Apollo and Irth Capital to buy Papa John's. ( Reuters)
Apollo Global Management and Irth Capital Management have approached Papa John’s for a joint bid that could take the restaurant chain private, valuing the company at $1.7bn.
Papa John’s faced leadership turmoil in 2018–2019 after founder John Schnatter’s exit. Though activist investor Starboard helped stabilize the company, further changes may be easier if the company goes private.
Bojangles is exploring a sale while the fried-chicken market is hot. ( WSJ)
Bojangles, the fast-food chain known for its fried chicken and biscuits, is poised to sell its business for $1.5bn.
Current owners Durational Capital Management and TJC are collaborating with investment bankers to explore a possible sale amid strong market interest in restaurant and chicken-focused businesses.
Medtech Caris Life Sciences seeks to raise $424m in IPO. ( Reuters)
Caris Life Sciences, a health-care company that uses technology to help diagnose and treat cancer, is seeking to raise $424m in an initial public offering.
The Sixth Street Partners-backed company plans to market 23.5m shares for $16 to $18 each. Neuberger Berman indicated it would be interested in buying as much as $75m of the offering at the IPO price.
Churchill Asset Management closes $1.5bn co-investment fund at hard cap. ( Press Release)
Churchill Asset Management, a Nuveen investment affiliate, has announced the final close of Churchill Co-Investment Fund II with $1.5bn in limited partner commitments.
The oversubscribed fund, aimed at delivering strong risk-adjusted returns through equity co-investments alongside private equity sponsors in US middle-market companies, reached its hard cap and is nearly 3.5 times larger than its predecessor.
Acorn Capital closes single-asset continuation fund for Sentry Aerospares. ( Press Release)
Acorn Capital Management has closed a single-asset continuation fund to extend its investment in Sentry Aerospares, a firm operating in the aerospace sector. The continuation fund allows Acorn to maintain and expand its partnership as Sentry pursues global growth opportunities. Financial details of the transaction were not disclosed.
Kline Hill Partners and LSV Advisors co-led the transaction, providing new capital that will support Sentry's ongoing expansion and operational initiatives. The structure offers liquidity to existing investors while enabling Acorn to remain invested in the company’s growth trajectory.
EMEA
KKR and Stonepeak raised their bid for UK healthcare property firm Assura to £1.7bn ($2.3bn), beating a rival offer from Primary Health Properties.
The new bid is all-cash, requires no divestments, and offers a 39% premium over Assura’s value before the initial approach.
Assura is advised by Barclays (led by Bronson Albery), Lazard (led by Cyrus Kapadia), Stifel (led by Mark Young), Travers Smith, and FGS Global (led by Gordon Simpson). KKR is advised by Jefferies & Company (led by Thomas Forrow and Tom Yeadon), Bowmans, Simpson Thacher & Bartlett (led by Amy Mahon), and FGS Global (led by Faeth Birch). Primary Health Properties is advised by Citigroup (led by James Ibbotson and Robert Redshaw), Deutsche Numis (led by Stuart Ord and Ben Stoop), JP Morgan, Peel Hunt (led by Henry Nicholls), Rothschild & Co (led by Alex Midgen), CMS, and Sodali & Co (led by Rory Godson), according to press releases.
Advent International, a private equity firm agreed to acquire Spectris, a supplier of precision instrumentation and controls, for £3.7bn ($5bn), according to press releases.
SAMEDAY, a parcel carrier company, agreed to acquire Cargus, a private courier company on the Romanian market, from MidEuropa, a private equity investor, according to press releases. Financial terms were not disclosed.
MidEuropa is advised by PricewaterhouseCoopers, Rothschild & Co, AT Kearney and RTPR, according to MergerLinks data and press releases.
Bridgepoint, a private asset growth investor, agreed to acquire NMi Group, a metrology company, offering a comprehensive suite of advisory, testing, inspection, certification, and calibration services, from Levine Leichtman Capital Partners, a Los Angeles-based private equity firm, according to press releases. Financial terms were not disclosed.
NMi Group and Levine Leichtman Capital Partners are advised by Houlihan Lokey, Rothschild & Co and NautaDutilh, according to press releases.
Hercules, a technology-enabled labour supply company, agreed to acquire the business and assets of Quality Transport Training, a company supporting unemployed individuals into work through fully funded training programmes, according to press releases. Financial terms were not disclosed.
Hercules is advised by SP Angel Corporate Finance (led by Matthew Johnson), Cavendish Corporate Finance (led by Adrian Hadden) and SEC Newgate (led by Robin Tozer), according to MergerLinks data and press releases.
L’Oréal, a French multinational personal care corporation registered in Paris, agreed to acquire a majority stake in Medik8, a British skincare brand, from Inflexion, a private equity firm, at a €1bn ($1.14bn) valuation, according to press releases.
Medik8 is advised by JP Morgan and Alantra, according to MergerLinks data.
Oakley Capital, a pan-European private equity investor, completed the acquisition of a majority stake in G3, a global strategic advisory consultancy, according to press releases. Financial terms were not disclosed.
Oakley Capital was advised by Simpson Thacher & Bartlett (led by James Howe). G3 was advised by Jefferies & Company, according to press releases and MergerLinks data.
Sunridge Partners, a private equity firm, completed the acquisition of a majority stake in Marín Giménez, a food processing company, according to press releases. Financial terms were not disclosed.
Marín Giménez was advised by Arcano Partners, according to MergerLinks data and press releases.
Oakley Capital, a pan-European, mid-market private equity investor, completed the acquisition of a majority stake in Join Business Management Consulting, an Italian management and IT consultancy firm, according to press releases. Financial terms were not disclosed.
Join Business Management Consulting was advised by Mediobanca, according to press releases and MergerLinks data.
H.I.G. Capital, a private equity firm, completed the acquisition of ITH Group, a provider of aseptic pharmaceutical compounding services, according to press releases. Financial terms were not disclosed.
Investment firms Georgian, Greenoaks, and Lightspeed Venture Partners led a $540m Series E round in Cyera, a data security company, according to press releases.
EQT Partners, a global private equity firm, agreed to invest $331m in Waga Energy, a France-based, publicly listed natural gas company, according to press releases.
Advent, a private equity firm, agreed to acquire a majority stake in Felix Pharmaceuticals, an animal drug producer, for $175m, according to press releases.
Cherry Ventures and Balderton Capital, venture capital firms, led a $150m Series A round in Proxima Fusion, a European fusion energy company, with participation from UVC Partners, DeepTech & Climate Fonds, Plural, Leitmotif, Lightspeed, Bayern Kapital, HTGF, Club degli Investitori, Omnes Capital, Elaia Partners, Visionaries Tomorrow, Wilbe, and redalpine, according to press releases.
EQT Life Sciences, an investment firm, and Sanofi Ventures, the corporate venture capital arm of Sanofi, led a $135m Series B round in SpliceBio, a Spanish biotech company, according to press releases.
Gordon Brothers, a retail focused investment firm, completed the acquisition of Poundland, a variety store chain, from Pepco, a discount store chain, according to press releases. Financial terms were not disclosed.
Blackstone plans $500bn investment in Europe over next decade. ( Bloomberg)
Blackstone is preparing to invest up to $500bn in Europe over the next 10 years, marking a major expansion of its presence in the region.
The announcement comes as the firm celebrates 25 years of operations in London. Blackstone sees shifting policies in Europe as a catalyst for higher growth and long-term opportunity.
CKI seeks re-entry into Thames Water auction after bidder exit. ( Sky News)
Hong Kong-based CK Infrastructure has requested to rejoin the auction process for Thames Water following the withdrawal of a preferred bidder. In a letter to Thames Water Chairman Sir Adrian Montague, CKI asked for access to due diligence materials and indicated it could submit a formal bid within six weeks.
The move comes as Thames Water faces mounting financial distress, increasing the risk of potential nationalization. CKI’s renewed interest reflects its long-standing investment appetite for UK utility assets and willingness to move quickly as the bidding landscape shifts.
Lone Star’s Novo Banco attracts bids from BPCE and CaixaBank. ( Bloomberg)
Novo Banco, the Portuguese lender owned by Lone Star, has drawn takeover interest from France’s BPCE and Spain’s CaixaBank, as strategic options for the bank’s future continue to be explored.
In addition to a potential sale to one of the two bidders, an initial public offering remains under consideration. A preliminary decision on whether to proceed with a sale or pursue a listing could be made as early as this week.
Macquarie nears deal for a minority stake in London City Airport. ( Sky News)
Macquarie Asset Management is close to acquiring a minority stake in London City Airport, the capital’s fifth-largest airport, as part of an ongoing reshuffle in its ownership structure.
The Australian financial group is in advanced talks to purchase the stake from at least one of the airport’s Canadian shareholders. While City Airport is expected to announce broader changes to its shareholder base, the Macquarie transaction may take longer to finalize.
Wood Group aims to finalise Sidara deal by end of June 2025. ( Sky News)
Aberdeen-based oil services firm Wood Group is preparing to request a short extension from the UK Takeover Panel as it works to finalise a reduced-price acquisition by UAE-based Sidara by the end of the month.
The joint extension request, expected to be approved, is likely to fall short of the 28-day maximum permitted under UK takeover rules, indicating both sides are confident an agreement is near.
Reckitt in talks about Essential Home sale. ( Reuters)
Reckitt is in exclusive talks with Advent International to sell its Essential Home unit, which makes products like Air Wick and Cillit Bang.
The potential sale supports CEO Kris Licht’s strategy to revamp the company and ease investor concerns, especially amid weak brand performance in North America and Europe.
Blackstone considers Cirsa IPO launch in near term. ( Bloomberg)
Blackstone is weighing the possibility of launching an IPO for Cirsa Enterprises, a Spanish casino operator, in the coming weeks. Market conditions have improved, presenting a favorable window for listings ahead of the summer slowdown.
The offering may raise less than previously anticipated, following a recent capital injection by Blackstone to reduce Cirsa’s debt. A November estimate from Bloomberg suggested the IPO could raise up to €1bn ($1.1bn) before the cash infusion.
APAC
Carlyle, an American multinational private equity, alternative asset management, and financial services corporation, agreed to acquire TRYT, a job placement and temporary staffing services provider, for $244m, according to press releases.
TRYT is advised by Mitsubishi UFJ Morgan Stanley Securities. Carlyle is advised by Mori Hamada & Matsumoto, according to press releases and Mergerlinks data.
BCI, one of the largest institutional investors in Canada, agreed to acquire a minority stake in Pinnacle Towers, an Asia-based digital infrastructure platform with a focus on the Philippines, from KKR, a global investment firm, according to press releases. Financial terms were not disclosed.
Mizuho, a Japanese banking holding company, agreed to acquire a majority stake in Avendus, a financial advisory firm headquartered in Mumbai, from KKR, a global private equity firm, at a $700m valuation.
KKR, Brookfield and Air Liquide eye $3.6bn deal for Macquarie’s South Korean gas asset. ( Reuters)
Macquarie Asset Management’s South Korean industrial gas company, DIG Airgas, has attracted interest from KKR, Brookfield Asset Management and French gas supplier Air Liquide in a potential deal valued at up to $3.6bn.
Macquarie has appointed Goldman Sachs and JP Morgan to manage the sale, with non-binding bids expected later this month.
Bain, KKR, Lone Star advance in $2.8bn bidding for Sapporo real estate unit. ( Bloomberg)
Bain Capital, KKR, and Lone Star have moved into the second round of bidding for Sapporo Holdings’ real estate division. The unit is expected to fetch over JPY400bn ($2.8bn), with final bids due by August and a transaction target set for year-end.
The divestment is part of Sapporo’s strategy to optimize its portfolio and unlock capital amid ongoing consolidation in Japan’s real estate market. Competition among global private equity firms highlights continued investor appetite for stable property assets in Japan.
Sumitomo Realty seeks office sale after Elliott takes stake. (Bloomberg)
Sumitomo Realty & Development, under pressure from Elliott Investment Management to increase its value, is looking to sell a portfolio of Tokyo office properties for at least JPY100bn ($700m).
The developer has identified 19 mid-sized office buildings for potential sale and has asked real estate firms to assess their value, possibly selling them individually. It’s also considering selling eight rental apartment buildings in Tokyo.
Atome to get $75m from Lending Ark as credit demand grows. ( Bloomberg)
Atome, Southeast Asia’s largest buy now, pay later provider, has secured a $75m asset-backed financing facility from Lending Ark to support the growing demand for affordable credit in the Philippines.
The funding will enable Atome to expand its credit offerings and improve financial access in the country. The company is owned by Singapore-based Advance Intelligence Group, whose backers include SoftBank Vision Fund 2, Warburg Pincus and Northstar.
Ares Management closes $2.4bn Japan data center development fund. ( Press Release)
Ares Management has completed the final close of Japan DC Partners I LP, its first fund focused on data center investment and development, raising approximately JPY350bn ($2.4bn) in equity commitments. The fund’s scale positions Ares among Japan’s largest investors in data center infrastructure, targeting growing demand driven by cloud computing and AI.
The capital will support new development projects designed to meet surging digital capacity needs in Japan’s rapidly expanding data infrastructure market. The fund reflects Ares' strategy to diversify into high-growth, technology-driven real estate sectors within Asia.
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