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AMERICAS

Stonepeak to acquire a 50% stake in IFCO from ADIA.

Stonepeak, an alternative investment firm, agreed to acquire a 50% stake in IFCO, a global provider of reusable packaging solutions, from ADIA, an investment firm, according to press releases. Financial terms were not disclosed.

Stonepeak is advised by Citigroup and Kirkland & Ellis (led by Tobias Larisch). Triton and ADIA are advised by Bank of America, Morgan Stanley and Latham & Watkins (led by Oliver Felsenstein and Leif U. Schrader). ADIA is advised by Freshfields Bruckhaus Deringer, according to press releases and MergerLinks data.

Kain Capital-backed Akeso Occupational Health to merge with Agile Occupational Medicine.

Kain Capital-backed Akeso Occupational Health, a company specializing in occupational health services, agreed to merge with Agile Occupational Medicine, a company focused on delivering occupational medicine and ancillary care services, according to press releases. Financial terms were not disclosed.

Kain Capital is advised by Orrick Herrington & Sutcliffe. Angeles Equity Partners is advised by Simpson Thacher & Bartlett, according to press releases.

J.S. Held to acquire MorrisAnderson.

J.S. Held, a global consulting firm, agreed to acquire MorrisAnderson, a provider of financial restructuring and operational consulting services, according to press releases. Financial terms were not disclosed.

J.S. Held is advised by Sidley Austin (led by David M. Grinberg and Daniel J. Belke), according to press releases and MergerLinks data.

Braemont Capital-backed Loenbro completes the acquisition of Weifield Group.

Braemont Capital-backed Loenbro, a company specializing in infrastructure and technical services, completed the acquisition of Weifield Group, a company focused on electrical contracting services, according to press releases. Financial terms were not disclosed.

Braemont Capital was advised by Gagnier Communications (led by Dan Gagnier), according to press releases.

Ecore International completes the acquisition of HTI Recycling.

Ecore International, a company specializing in rubber circularity and high-performance reclaimed materials, completed the acquisition of HTI Recycling, a company focused on tire collection, recycling, and crumb rubber manufacturing, according to press releases. Financial terms were not disclosed.

Ecore International was advised by FGS Global, according to press releases.

FVLCRUM Funds-backed FBR Solutions completes the acquisition of RTS Associates.

FVLCRUM Funds-backed FBR Solutions, a company specializing in telecommunications infrastructure services, completed the acquisition of RTS Associates, a company focused on telecommunications design and turnkey deployment, according to press releases. Financial terms were not disclosed.

Main Post Partners completes the acquisition of a minority stake in Smoothie King.

Main Post Partners, a private equity firm, completed the acquisition of a minority stake in Smoothie King, a smoothie restaurant chain, according to Bloomberg. Financial terms were not disclosed.

Bain Capital weighs sale of stake in Canada Goose. (Bloomberg)

Bain Capital, the controlling shareholder of Canada Goose Holdings, is considering selling part or all of its stake in the luxury outerwear brand.

The private equity firm is working with advisers and has begun assessing interest from potential buyers, including other private equity firms.

Autodesk explores acquisition of engineering software firm PTC. (Bloomberg)

Autodesk is evaluating a potential takeover of PTC, a Boston-based engineering software company, in a cash-and-stock deal.

The company is working with advisers to assess the transaction, while PTC is also attracting interest from other industry players.

iCapital raises $820m, valuation climbs to over $7.5bn. (WSJ)

iCapital, a financial technology provider focused on private markets access for wealth advisers, has raised over $820m in a new funding round, bringing its valuation to more than $7.5bn.

The firm, an early player in expanding private market access to individual investors, was previously valued at around $6bn in 2022.

EMEA

Blackstone raises bid for UK’s Warehouse REIT, surpassing Tritax offer. (Press Release)

Blackstone has increased its offer to acquire Warehouse REIT, outbidding the proposal made last month by Tritax Big Box REIT.

The alternative asset manager is now offering 113.4 pence per share in cash, valuing the UK property firm at £489m ($666m). The revised bid represents a 3.6% premium over Tritax’s previous cash-and-share offer, which had received backing from Warehouse’s board.

Warehouse REIT is adivsed by Jefferies & Company, Peel Hunt, Reed Smith and FTI Consulting. Blackstone is advised by Deutsche Numis, Rothschild & Co and Simpson Thacher & Bartlett.

SK Capital Partners to acquire the medical division from LISI Group.

SK Capital Partners, an investment firm, agreed to acquire the medical division from LISI Group, a global industrial group specializing in high value-added assembly solutions and components, according to press releases. Financial terms were not disclosed.

SK Capital Partners is advised by Jefferies & Company, Piper Sandler, Sycomore Corporate Finance, Kirkland & Ellis and Gregory FCA (led by Jeremy Milner). Debt financing is provided by Partners Group. LISI Group is advised by Rothschild & Co and Dentons, according to press releases.

Jupiter Fund Management to acquire CCLA Investment Management for £100m.

Jupiter Fund Management, a UK fund management group, agreed to acquire CCLA Investment Management, an asset manager focused on serving non-profit organisations, for £100m ($136m), according to press releases.

Jupiter is advised by Fenchurch Advisory Partners (led by Philip Evans and Vincent Etienne Guillaume Bounie) and Edelman (led by Andrew Wilde), according to press releases and MergerLinks data.

Swissquote Bank to acquire a 50% stake in Yuh from PostFinance.

Swissquote Bank, a Swiss banking group, agreed to acquire a 50% stake in Yuh, a financial services firm, from PostFinance, a retail financial institution, according to press releases. Financial terms were not disclosed.

Swissquote Bank is advised by Lenz & Staehelin (led by Ariel Ben Hattar), according to press releases and MergerLinks data.

Banks begin pitching $4.3bn debt package for Boots buyout. (Bloomberg)

JP Morgan and UBS have started early pricing discussions with investors for a $4.3bn debt package to support Sycamore Partners’ buyout of UK pharmacy chain Boots.

The financing is being pre-marketed in parts, comprising $2.3bn in term loans and $2bn in secured bonds across various denominations.

BlueFive Capital raises $2bn for Gulf-focused private equity fund. (Bloomberg)

BlueFive Capital has raised $2bn for a new private equity fund, making it one of the largest vehicles launched by a Gulf-based investor.

Established in Abu Dhabi by a former Investcorp executive, the fund will focus on growth opportunities across the six Gulf Cooperation Council countries, with planned investments in healthcare, technology, hospitality, aviation, and industrial sectors.

Portugal reopens TAP privatization process with 49.9% stake on offer. (Reuters)

Portugal has restarted the long-postponed privatization of national airline TAP, aiming to sell a 49.9% stake, including 5% reserved for employees.

Prime Minister Luis Montenegro said the move comes after significant public spending on the airline, adding that the government seeks to avoid further financial support without structural change.

APAC

Temasek-backed Manipal Hospitals to acquire Sahyadri Hospitals Group from OTPP.

Temasek-backed Manipal Hospitals, a company specializing in multi-specialty healthcare services, agreed to acquire Sahyadri Hospitals Group, a company focused on hospital and medical services in India, from Ontario Teachers' Pension Plan, a capital market company, according to press releases. Financial terms were not disclosed.

Ontario Teachers' Pension Plan is advised by Alvarez & Marsal, Jefferies & Company, Latham & Watkins, Trilegal (led by Sanjam Arora and Vishal Sagar) and Ernst & Young, according to press releases.

EnQuest completes the acquisition of the business in Vietnam from Harbour Energy for $84m.

EnQuest, an energy transition company, completed the acquisition of the business in Vietnam from Harbour Energy, an oil and gas company, for $84m, according to press releases.

EnQuest was advised by Teneo (led by Martin Robinson), according to press releases and MergerLinks data.

SBI plans $2.9bn share sale, eyes record-setting QIP in India. (Bloomberg)

State Bank of India is preparing to launch a share sale of up to INR250bn ($2.9bn) to institutional investors as early as next week, potentially setting a new record for the country’s largest qualified institutional placement.

If fully subscribed, the deal would surpass Coal India’s INR225.6bn offering in 2015. SBI’s board approved the planned transaction in May.

Aster Chemicals in talks to acquire Exxon gas stations in Singapore. (Bloomberg)

Aster Chemicals and Energy, a joint venture between Indonesia’s Chandra Asri Group and Glencore, is in advanced discussions to acquire Exxon Mobil’s gas station network in Singapore.

The firm has outpaced other global bidders and is currently negotiating key terms of the transaction, including pricing and structure.

Australia's ACCC won’t oppose potential Lactalis bid for Fonterra assets. (Reuters)

Australia’s competition regulator has stated it will not oppose a possible bid by French dairy group Lactalis for Fonterra’s consumer, dairy ingredients, and food service businesses.

The Australian Competition and Consumer Commission reviewed the potential transaction informally following reports that other companies, including Japan’s Meiji and Canada’s Saputo, were also considering bids for the New Zealand-based company’s assets.

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