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AMERICAS

UK watchdog says it might accept remedial measures offered by SLB, ChampionX for its $8bn deal. (Reuters)

The UK’s Competition and Markets Authority said it may accept remedies proposed by SLB and ChampionX to address competition concerns related to their planned merger. The companies have offered to divest certain overlapping businesses and grant technology licenses as part of the deal to avoid a deeper investigation. The CMA has until June 11 to review the proposals, with a possible extension to August 8.

The regulator had warned that the merger could harm competition for oilfield services and equipment. While the CMA is still assessing the case, the merger has already been cleared in the US and is pending review in Norway. SLB said it expects to close the deal in the second or early third quarter of 2025.

ChampionX is advised by Centerview Partners (led by Gayle Turk and Justin Katz), Weil Gotshal and Manges (led by Michael Aiello) and Joele Frank (led by Tim Lynch and Kelly Sullivan). Centerview Partners is advised by Gibson Dunn & Crutcher. SLB is advised by Goldman Sachs (led by Suhail Sikhtian) and Latham & Watkins (led by Ryan Maierson).

IGS Energy to acquire Just Energy.

IGS Energy, an energy supplier, agreed to acquire Just Energy, a retail energy provider, according to press releases. Financial terms were not disclosed.

Just Energy is advised by PJT Partners and Latham & Watkins. IGS Energy is advised by Bank of America, Huntington, JP Morgan, Wells Fargo Securities and Taft Stettinius & Hollister, according to press releases.

The Wine Group to acquire wine brands and production facilities from Constellation Brands.

The Wine Group, a producer of wine, agreed to acquire wine brands and production facilities from Constellation Brands, a beverage alcohol company, according to press releases. Financial terms were not disclosed.

The Wine Group is advised by American AgCredit, BMO Capital Markets, Rabo Securities USA, Rabobank and Double Forte (led by Alexis Karis), according to press releases.

Cal-Maine Foods completes the acquisition of Echo Lake Foods for $258m.

Cal-Maine Foods, a producer and distributor of fresh shell eggs, completed the acquisition of Echo Lake Foods, a company that produces, packages, markets and distributes ready-to-eat egg products and breakfast foods, for $258m, according to press releases.

Cal-Maine Foods was advised by Goldman Sachs, Jones Walker and Sidley Austin (led by Mark Metts), according to press releases and MergerLinks data.

TDCX completes the acquisition of Open Access BPO.

TDCX, a Singapore-based digital customer experience solutions provider, completed the acquisition of Open Access BPO, a United States-headquartered outsourcing company. Financial terms were not disclosed, according to press releases.

Open Access BPO is advised by Robert W Baird (led by Kiran Paruchuru) and Reed Smith. TDCX is advised by Clark Hill, according to press releases and MergerLinks data.

Fisica to acquire Space Vector.

Fisica, a defense products manufacturer specializing in advanced technologies for national defense and space applications, announced its agreement to acquire Space Vector, a provider of high-reliability RF avionics and battery systems for the aerospace and defense sectors. Financial terms were not disclosed, according to press releases.

Fisica is advised by Joele Frank (led by Jon Keehner, Tim Ragones and Greg Klassen).

Bernhard Capital-backed GHC|orcutt winslow completes the acquisition of Straughn Trout Architects.

Bernhard Capital-backed GHC|orcutt winslow, an architecture, engineering, and consulting firm, completed the acquisition of Straughn Trout Architects, a Florida-based design firm specializing in educational, commercial, and municipal architecture, according to press releases. Financial terms were not disclosed.

Bernhard Capital was advised by Joele Frank (led by Ed Trissel and Erik Carlson), according to press releases.

Hildred Capital-backed SportsMed completes the acquisition of Mendham Physical Therapy.

Hildred Capital-backed SportsMed, an outpatient rehabilitation provider, completed the acquisition of Mendham Physical Therapy, a local physical therapy clinic, according to press releases. Financial terms were not disclosed.

SportsMed was advised by Holland & Knight, according to press releases.

Blackstone to acquire a 95% stake in 6M SF industrial portfolio of Crow Holdings for $718m.

Blackstone agreed to acquire a 95% stake in 6M SF industrial portfolio of Crow Holdings, a US-based real estate investment and development firm, for $718m, according to press releases.

GENDA to acquire Player One Amusement Group from OpenGate Capital.

GENDA, an entertainment company, agreed to acquire Player One Amusement Group, a Canadian arcade game distributor, from OpenGate Capital, a global private equity firm, according to press releases. Financial terms were not disclosed.

Princeton Partners Group completes the acquisition of Stackpole.

Princeton Partners Group, an award-winning brand advertising agency, completed the acquisition of Stackpole, a US-based advertising agency serving community banks and financial institutions, according to press releases. Financial terms were not disclosed.

Construction Resources completes the acquisition of Opustone from Mosaic Companies.

Construction Resources, a home building materials and appliances supplier, completed the acquisition of Opustone, a company that provides decorative surfaces, floor tiles, slabs, glass mosaic, and flooring products, from Mosaic Companies, an importer and distributor of natural and engineered stone and tile, according to press releases. Financial terms were not disclosed.

Baker Tilly in talks to buy US rival as accounting dealmaking heats up. (FT)

Baker Tilly is in advanced discussions to acquire US rival Moss Adams in a deal valued at over $2bn, a move that would elevate the firm to the sixth-largest accounting firm in the country by revenue, surpassing Grant Thornton and BDO.

The talks come just over a year after Chicago-based Baker Tilly sold a majority stake to a private equity consortium, with plans to accelerate acquisitions and expand its presence in the rapidly consolidating accounting and consulting services market.

Bain Capital is in talks to buy Sizzling Platter for over $1bn. (Bloomberg)

Bain Capital is in talks to acquire restaurant-chain operator Sizzling Platter from CapitalSpring in a transaction valued at over $1 billion, including debt.

Sizzling Platter notified its bondholders of the agreement on Wednesday. Jefferies and UBS are financing the deal.

Trump directs review of all major defense acquisition programs. (Bloomberg)

President Donald Trump signed an executive order on Wednesday launching a review of the Pentagon’s weapons acquisition process, focusing on top programs that may be delayed or over budget.

A summary accompanying the order outlined that all major defense acquisition programs will undergo evaluation to ensure alignment with the administration’s policy goals centered on speed, flexibility, and execution.

Excelsior Energy Capital closes Fund II at $1bn, substantially exceeding target. (Press Release)

Excelsior Energy Capital has announced the final close of its Excelsior Renewable Energy Investment Fund II, securing over $1bn in capital commitments and surpassing its original $750m target.

Fund II will maintain the firm’s focus on equity investments in solar, energy storage, wind, and other energy transition projects across the United States. The raise marks a significant step in Excelsior’s ongoing efforts to support the growth of clean energy infrastructure in North America.

EMEA

Regulatory approval secured for Snai acquisition. (Press Release)

Flutter Entertainment, a global online sports betting and iGaming operator, has received all required regulatory approvals to acquire Snaitech, a top omni-channel operator in Italy.

Flutter Entertainment is advised by Chiomenti (led by Filippo Modulo) and Community Group (led by Auro Palomba). Playtech is advised by Jefferies & Company (led by Philip Noblet), Oakvale Capital (led by Daniel Burns and Sandford Loudon), BonelliErede (led by Stefano Nanni Costa), Bryan Cave Leighton Paisner and Headland Consultancy (led by Lucy Legh). Debt financing is provided by Goodbody (led by Piers Coombs), according to press releases and MergerLinks data.

Prada to acquire Versace from Capri for $1.375bn.

Prada, a company specializing in high-end fashion and luxury goods, agreed to acquire Versace, an iconic Italian fashion house, from Capri Holdings, a global fashion group, for $1.375bn.

Capri is advised by Barclays and Wachtell Lipton Rosen & Katz (led by Joshua Cammaker and Mark Stagliano).

PharmaLogic to acquire Agilera Pharma from Institute for Energy Technology.

PharmaLogic, a pharma company, agreed to acquire Agilera Pharma, a pharmaceutical manufacturing company, from Institute for Energy Technology, a research institute within energy, health and industrial development, according to press releases. Financial terms were not disclosed.

PharmaLogic is advised by Solomon Partners, according to press releases.

Masdar completes the acquisition of an additional 30% stake in Terna Energy.

Masdar, an Emirati state-owned renewable energy company, completed the acquisition of an additional 30% stake in Terna Energy, a Greek renewable energy company, according to press releases. Financial terms were not disclosed.

Italy’s Clessidra weighs sale of software firm Impresoft. (Bloomberg)

Clessidra Private Equity is evaluating strategic options for Impresoft, including a potential sale that could value the software company at around €800m ($885m).

The Italian private equity firm has received unsolicited interest from both industry players and other buyout firms, prompting consideration of a formal auction process. A potential sale could gain traction in 2025.

Greece’s Metlen eyes more European defense deals after recent push. (Bloomberg)

Greek energy and metals group Metlen is seeking additional partnerships with European defense contractors following recent agreements with French and Italian firms.

Chairman and CEO Evangelos Mytilineos described the company as actively exploring further defense cooperation opportunities both within Greece and abroad.

He emphasized Metlen’s readiness to take on a greater role as Europe intensifies efforts to bolster its military capabilities.

Qatar's QIA denies reported interest in Kering building in Milan. (Reuters)

The Qatar Investment Authority announced on April 10 that it has no intention of buying Kering’s prestigious building on via Montenapoleone in Milan, dismissing a report by Italian newspaper Corriere della Sera suggesting the sovereign wealth fund was eyeing a stake in the property.

The luxury group has previously stated it is seeking investors to help refinance recent real estate acquisitions, as it faces mounting financial pressure due to falling sales at its flagship brand, Gucci.

Edouard Jozan appointed Head of AllianzGI Private Markets. (Press Release)

Allianz Global Investors has appointed Edouard Jozan as Head of AllianzGI Private Markets, effective June 1.

Currently serving as Head of Distribution Europe, Jozan will take on the new role as the firm acknowledges the growing maturity, scale, and distinct identity of its Private Markets business alongside its established Public Markets platform.

With the appointment, Jozan will also join AllianzGI’s Executive Committee.

APAC

International Media Acquisition to merge with VCI Biofuels Group in a $1bn deal.

International Media Acquisition, a US-based SPAC, agreed to merge with VCI Biofuels Group, a Vietnam-based manufacturer of fuel ethanol and renewable fuels, in a $1bn deal.

International Media Acquisition is advised by DaHui Lawyers, Loeb & Loeb and Ogier.

Fat Zebra completes the acquisition of SecurePay from Australia Post.

Fat Zebra, an Australian digital payments company, completed the acquisition of SecurePay, an online payments platform, from Australia Post, an Australian Government-owned corporation that provides postal services, according to press releases. Financial terms were not disclosed.

Anglo remains in talks to sell coal assets to Peabody after fire. (Bloomberg)

Anglo American is continuing discussions with Peabody Energy on the $3.8bn sale of its coal portfolio, while confirming that a recent fire at its Australian operations caused no damage.

The London-based miner is still working through the remaining customary conditions required to complete the transaction. Internal assessments indicate that conditions at the affected mine remain stable, with no evidence of damage.

Singapore's SC Capital in talks to buy British data centre group Global Switch. (Reuters)

Singapore-based real estate investment manager SC Capital Partners has emerged as a potential bidder for British data centre operator Global Switch, as the company explores a change in ownership.

Backed by global real asset manager CapitaLand Investment, SC Capital is working with advisers on a possible acquisition of the London-based firm, which is currently controlled by Chinese steelmaker Jiangsu Shagang Group.

Virgin Australia targets June IPO despite tariff turmoil. (Bloomberg)

Bain Capital-controlled Virgin Australia is moving forward with plans for an initial public offering in June, despite ongoing market volatility linked to the trade tensions under US President Donald Trump’s administration.

New CEO Dave Emerson has begun briefing potential investors in Australia and is scheduled to travel to Asia for further meetings next week as part of the airline’s IPO preparations.

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