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AMERICAS

MasTec to acquire The Superior Group for $1.65bn.

MasTec, a North American infrastructure engineering and construction company, agreed to acquire The Superior Group, a premier full-service electrical contractor focused on critical infrastructure, for $1.65bn, according to press releases.

MasTec is advised by Lazard, Fried Frank Harris Shriver & Jacobson and Holland & Knight. The Superior Group is advised by UBS and Paul Weiss Rifkind Wharton & Garrison (led by Dotun Obadina and James E. Langston), according to press releases.

EQT to acquire the biosurgery business of GTCR-backed Corza Medical.

EQT, an investment firm, agreed to acquire the biosurgery business of GTCR-backed Corza Medical, a global medical technology company, according to press releases. Financial terms were not disclosed.

EQT is advised by Piper Sandler and Latham & Watkins. GTCR is advised by Prosek Partners (led by Joshua Clarkson). Corza Medical is advised by Citigroup and Kirkland & Ellis, according to press releases and MergerLinks data.

Lightyear Capital completes the investment in Corestream.

Lightyear Capital, a private equity firm, completed the investment in Corestream, an employee benefits technology company that provides digital platforms, enrollment systems, billing solutions, and consulting services, according to press releases. Financial terms were not disclosed.

Corestream was advised by TripleTree and Dechert. Lightyear Capital was advised by Davis Polk & Wardwell (led by Michael Davis) and ThroughCo Communications (led by Elliot Sloane), according to press releases and MergerLinks data.

Principal Financial Group to acquire Beam Benefits.

Principal Financial Group, a global financial investment management and insurance company, agreed to acquire Beam Benefits, a digitally-native employee ancillary benefits company, according to press releases. Financial terms were not disclosed.

Principal Financial Group is advised by Perella Weinberg Partners and Skadden Arps Slate Meagher & Flom (led by Tod Freed and Liana-Marie Lien). Beam Benefits is advised by Ardea Partners and Wilson Sonsini Goodrich & Rosati, according to press releases and MergerLinks data.

Sompo to acquire Service Insurance Companies.

Sompo, a Japanese insurance holdings company, agreed to acquire Service Insurance Companies, a specialty insurance provider focused exclusively on workers’ compensation coverage, according to press releases. Financial terms were not disclosed.

Sompo is advised by Guy Carpenter and Mayer Brown. Service Insurance Companies is advised by Howden and Skadden Arps Slate Meagher & Flom (led by Todd Freed), according to press releases and MergerLinks data.

I Squared Capital to acquire Milestone Environmental.

I Squared Capital, a private equity firm, agreed to acquire Milestone Environmental, an environmental infrastructure company delivering waste management solutions for the energy and industrial sectors, according to press releases. Financial terms were not disclosed.

I Squared Capital is advised by Simpson Thacher & Bartlett. Milestone Environmental is advised by Houlihan Lokey and Latham & Watkins, according to press releases.

Wynnchurch Capital-backed Principal Industries to acquire GENLED Brands.

Wynnchurch Capital-backed Principal Industries, a provider of LED components and engineered assemblies, agreed to acquire GENLED Brands, a designer, manufacturer and assembler of LED lighting products and systems, according to press releases. Financial terms were not disclosed.

GENLED Brands is advised by GulfStar Group and Willkie Farr & Gallagher. Wynnchurch Capital is advised by Foley & Lardner, according to press releases.

CVC Capital Partners to acquire a majority stake in DistroKid.

CVC Capital Partners, a private equity investment firm, agreed to acquire a majority stake in DistroKid, a music distribution service, according to press releases. Financial terms were not disclosed.

CVC Capital Partners is advised by Morgan Stanley. DistroKid is advised by Goldman Sachs and The Raine Group, according to press releases.

Endeavor Managed Services-owned SOVA completes the acquisition of Unified Connection.

Endeavor Managed Services-owned SOVA, a provider of end-to-end lifecycle management and technical services, completed the acquisition of Unified Connection, a provider of carrier-powered wireless and wireline connectivity and virtual contact center solutions for midmarket, enterprise, and public sector customers, according to press releases. Financial terms were not disclosed.

Endeavor Managed Services was advised by Layer 7 Capital and Duane Morris, according to press releases.

Pye-Barker Fire & Safety completes the acquisition of ResponseTECH.

Pye-Barker Fire & Safety, a fully integrated and full-service fire protection, life safety and security services provider, completed the acquisition of ResponseTECH, a provider of innovative security and life safety solutions, according to press releases. Financial terms were not disclosed.

ResponseTECH was advised by Nelson Mullins Riley & Scarborough. Pye-Barker Fire & Safety was advised by Full Tilt Consulting, according to press releases.

THELEMA completes the acquisition of B Medical Systems business of Azenta for $63m.

THELEMA, a Luxembourg-based entity, completed the acquisition of B Medical Systems business of Azenta, a provider of life sciences services, for $63m, according to press releases.

Azenta was advised by William Blair & Co and Taylor Wessing, according to press releases and MergerLinks data.

Choreo completes the acquisition of Resource Financial Group.

Choreo, an independent wealth management firm, completed the acquisition of Resource Financial Group, a Wilmette, Illinois-based registered investment adviser, according to press releases. Financial terms were not disclosed.

Choreo was advised by Haven Tower Group (led by Donald Cutler). Resource Financial Group was advised by Turkey Hill Management, according to press releases.

Shore Capital completes the acquisition of ThrivePass.

Shore Capital, a private equity firm focused on the healthcare industry, completed the acquisition of ThrivePass, a comprehensive technology platform that streamlines employee benefits administration for employers, according to press releases. Financial terms were not disclosed.

ThrivePass was advised by Harris Williams & Co, according to press releases.

Command Investigations completes the acquisition of insurance division of CoventBridge.

Command Investigations, a provider of investigative services to the insurance defense market, completed the acquisition of insurance division of CoventBridge, a provider of global, full-service investigative and anti-fraud solutions primarily for insurance companies, government agencies, and health plans, according to press releases. Financial terms were not disclosed.

CoventBridge was advised by Brown Gibbons Lang & Company, according to press releases.

Valstone completes the acquisition of Nascent from Firmament.

Valstone, a provider of industrial software and technology solutions, completed the acquisition of Nascent, a provider of automated gate and rail systems, industrial kiosks, and imaging/OCR solutions for terminals and depots, from Firmament, a private equity firm, according to press releases. Financial terms were not disclosed.

Firmament was advised by Kutak Rock, according to press releases.

Canada offers Teck CAD400m for strategic metals growth. (Bloomberg)

The Canadian government will invest up to CAD400m ($282m) to support Teck Resources’ expansion of processing capacity at its Trail zinc-and-lead smelter in British Columbia, strengthening domestic supplies of critical minerals.

The funding, provided alongside the CAD15bn ($10.6bn) Canada Growth Fund, will help increase production of strategic metals including germanium, antimony, and gallium, which are primarily recovered as byproducts at the facility.

Nuclear fuel firm Standard Nuclear eyes up to $3.55bn valuation in US IPO. (Reuters)

Standard Nuclear is seeking a valuation of up to $3.55bn in its US initial public offering, aiming to raise as much as $383.3m by selling 18.25m shares at $18–$21 each. The listing comes as investor interest in energy companies grows alongside rising power demand from AI-driven data centers.

The Tennessee-based nuclear fuel producer plans to use the proceeds for working capital, general corporate purposes, and potential acquisitions. Standard Nuclear intends to list on the New York Stock Exchange under the ticker STDN.

EMEA

Duck Creek completes the acquisition of Send Technology Solutions.

Duck Creek, a software company that develops core systems for the insurance industry, completed the acquisition of Send Technology Solutions, a cloud underwriting platform for commercial and specialty insurers, according to press releases. Financial terms were not disclosed.

Duck Creek was advised by Three Rings. Send Technology Solutions was advised by Solano Partners, according to press releases.

UniCredit nears majority stake in Commerzbank takeover battle. (Reuters)

UniCredit has secured 47.6% of Commerzbank following the completion of its takeover offer, bringing the Italian lender significantly closer to gaining control of Germany’s second-largest listed bank.

The move follows a prolonged pursuit that faced opposition from Commerzbank’s management, the German government, and labor representatives. The two banks also held brief merger discussions earlier in 2026 before negotiations collapsed.

Abu Dhabi royal family firm to invest $1.13bn in LNG company MidOcean. (Bloomberg)

An investment firm owned by members of Abu Dhabi’s ruling family will invest $1.13bn in liquefied natural gas company MidOcean Energy. The investment forms part of a broader partnership with private equity firm EIG, which established MidOcean.

The agreement also includes plans to pursue energy and infrastructure investments in the United Arab Emirates and selected regional markets.

Coty to get $400m for early exit from Gucci beauty deal. (Bloomberg)

Coty will receive $400m to terminate its license to sell Gucci beauty products one year ahead of schedule, ending a decade-long partnership with Kering.

The agreement clears the way for L'Oréal to take over the Gucci beauty license from July 2027 under a new 50-year agreement.

UK seeks to merge defense group with Canada's 'bomb bank'. (Bloomberg)

The UK and Canada are discussing combining their proposed defense financing initiatives to create a single institution supporting investment in the defense sector and NATO rearmament plans.

The move reflects efforts by both countries to build greater scale for their financing proposals, with further discussions expected on formally integrating the two initiatives.

Fertilizer firm climbs 18% in early trading after Oman IPO. (Bloomberg)

Oman India Fertiliser jumped about 18% in its Muscat trading debut after raising OMR261m ($678m) in the region’s largest initial public offering of 2026.

The shares rose to OMR184 ($477) from the IPO price of OMR156 ($404.5), reflecting strong investor demand for the fertilizer producer’s listing.

Angola seeks to raise about $320m in nation's biggest IPO. (Bloomberg)

Angola plans to raise $320m through the sale of a 15% stake in Unitel, the country’s largest telecommunications operator, as part of efforts to finance the budget and deepen local capital markets.

The offering comprises 7.5m shares at an indicative price range of AOA36k ($39.04) to AOA40k ($43.38) each. The sale will run through July 24 and could raise as much as AOA300bn ($320m).

Uzbek logistics firm Centrum bets on silk road trade before IPO. (Bloomberg)

Centrum Holding, Uzbekistan’s largest private logistics group, is preparing for a London initial public offering as early as 2027 as it seeks to expand along trade routes linking Europe and Asia.

The company aims to attract strategic investors to support its growth plans and is targeting IPO readiness within the next one to two years as it scales its logistics operations.

APAC

TPG in talks to acquire SE Asian elderly-care provider Active Global. (DealStreetAsia)

TPG is in discussions to acquire elderly-care platform Active Global, which operates in Singapore and Hong Kong, as the private equity firm expands its healthcare investments.

The sale process is being managed by Pickering Pacific, with the transaction potentially valuing Active Global at between $60m and $100m.

Iluvatar CoreX is said to consider share sale after 428% rally. (Bloomberg)

Shanghai Iluvatar CoreX Semiconductor is considering a Hong Kong share sale to raise at least $800m after its shares surged following the company's January 2026 initial public offering. The AI chipmaker is seeking to capitalize on strong investor demand for graphics processing unit developers.

The company is working with advisers on a potential placement following the expiry of its six-month IPO lock-up period. Deliberations are ongoing, and the size and timing of the offering could still change.

GM-backed Momenta rises in HK debut after $752m IPO. (Bloomberg)

Momenta Global rose as much as 6.5% in its Hong Kong trading debut after raising HKD5.9bn ($752m) in an initial public offering, providing a key test of investor appetite for loss-making technology companies.

The Chinese autonomous-driving firm priced the offering at HKD295.60 ($37.7) per share and secured backing from more than a dozen cornerstone investors, including GIC, Fidelity International, BlackRock, and Mercedes-Benz, which together subscribed for roughly half of the shares offered.

SeaTown scores first PE exit after Foundation Healthcare's $186m IPO. (DealStreetAsia)

Foundation Healthcare Holdings raised about SGD242m ($186m) in an initial public offering, marking the largest Singapore listing of 2026 outside the real estate investment trust sector. The deal also represents the first exit for the private equity fund managed by Temasek-linked SeaTown Holdings.

The shares traded flat at SGD0.76 ($0.59) during the opening hour before closing 7.9% below the IPO price at SGD0.70 ($0.54), reflecting a weak market debut despite the scale of the offering.

KKR-backed SmartHR is said to delay Tokyo IPO beyond this year. (Bloomberg)

SmartHR has postponed its planned initial public offering until 2027 at the earliest after investors viewed the company's targeted valuation as too high. The Japanese human resources software provider had been seeking a valuation of about $1bn.

The company is working with Daiwa Securities, Goldman Sachs, and Morgan Stanley on the proposed listing. Timing and valuation remain under review as investors weigh the potential impact of the AI boom on the software-as-a-service sector.

EQT seeks to raise $2.5bn for new Asia mid-cap buyout fund. (Reuters)

EQT has launched fundraising for a new pan-Asia mid-market buyout fund, targeting $2.5bn to invest in high-growth companies across Japan, India, South Korea, Australia, and Southeast Asia. The strategy will focus on acquiring controlling stakes in businesses requiring equity investments of $50m–$300m.

The fundraising follows EQT’s recent $15.6bn close for its flagship Asia buyout fund. The firm's first pan-Asia mid-market fund, raised in 2024 with $1.6bn, invested in companies across technology, healthcare, and business services.

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