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AMERICAS

Goldman Sachs Alternatives to acquire Tosca from Apax.

Goldman Sachs Alternatives, the alternative investments division of Goldman Sachs, agreed to acquire Tosca, a global provider of reusable asset pooling solutions for the food supply chain, from Apax, an independent partnership focused solely on long-term investment in growth companies, according to press releases. Financial terms were not disclosed.

Goldman Sachs Alternatives is advised by Bank of America, Goldman Sachs and Sidley Austin. Apax is advised by Deutsche Bank, William Blair & Co and Simpson Thacher & Bartlett (led by Ben Schaye, Keegan Lopez and Ryerson Symons), according to press releases and MergerLinks data.

CapVest-backed Second Nature Brands completes the acquisition of Tillamook Country Smoker.

CapVest-backed Second Nature Brands, a producer of premium snacks and treats, completed the acquisition of Tillamook Country Smoker, a long-standing producer of high-quality beef jerky and meat sticks, according to press releases. Financial terms were not disclosed.

Second Nature Brand was advised by Solomon Partners, Willkie Farr & Gallagher (led by Ryan Giggs and David Arnold) and Reputation Inc (led by Ben Valdimarsson). Tillamook Country Smoker was advised by Houlihan Lokey and Kirkland & Ellis, according to press releases and MergerLinks data.

Trinity Hunt Partners completes the investment in Fisher Management Partners.

Trinity Hunt Partners, a private equity firm, completed the investment in Fisher Management Partners, a management consulting firm, according to press releases. Financial terms were not disclosed.

Trinity Hunt Partners was advised by Kirkland & Ellis and MiddleM Creative (led by Jan Morris). Fisher Management Partners was advised by Copper Run and Dinsmore & Shohl, according to press releases.

HBT Financial to merge with Tri-County Financial Group in a $204.6m deal.

HBT Financial, a financial services company, agreed to merge with Tri-County Financial Group, a bank holding company and the parent of First State Bank, in a $204.6m deal, according to press releases.

HBT Financial is advised by Piper Sandler and Vedder Price. Tri-County Financial Group is advised by Performance Trust Capital Partners and Barack Ferrazzano Kirschbaum & Nagelberg, according to press releases.

EagleRock Land completes the acquisition of Intrepid Ranch from Hydrosource Logistics for $78.2m.

EagleRock Land, a surface land and resource management company, completed the acquisition of Intrepid Ranch, a surface acreage and resource asset, from Hydrosource Logistics, a water logistics and management company, for $78.2m, according to press releases.

EagleRock Land was advised by Raymond James, Gibson Dunn & Crutcher and Vinson & Elkins. Hydrosource Logistics was advised by Jackson Walker, according to press releases.

Hanwha Defence USA to acquire Austal USA in a deal valued at $1.2bn.

Hanwha Defence USA, a US-based subsidiary of Hanwha Aerospace that develops and manufactures advanced defence systems, agreed to acquire Austal USA, a shipbuilder and a defence contractor, in a deal valued at $1.2bn, according to press releases.

Austal USA is advised by Jefferies & Company, Herbert Smith Freehills Kramer and FTI Consulting (led by Cameron Morse), according to press releases.

AE Industrial Partners completes the acquisition of Attilius Technologies.

AE Industrial Partners, a private equity firm, completed the acquisition of Attilius Technologies, a national security intelligence platform, according to press releases. Financial terms were not disclosed.

AE Industrial Partners was advised by JP Morgan and Stanton PRM, according to MergerLinks data and press releases.

LB Investment led a $136m Series B round in Point2 Technology.

LB Investment led a $136m Series B round in Point2 Technology, a developer of RF-based interconnect solutions for AI data-center infrastructure. With participation from Maverick Silicon, NVIDIA, Arm, UMC Capital, Molex and Bosch Ventures, according to press release.

Point2 Technology was advised by Racepoint Global, according to press releases.

Mudrick Capital Management led a $100m round in Vertical Aerospace.

Mudrick Capital Management, a private equity firm, led a $100m round in Vertical Aerospace, a UK aerospace and technology company, with participation from Yorkville Advisors and other investors, according to press release.

Mudrick Capital is advised by Wachtell Lipton Rosen & Katz (led by Igor Kirman and Victor Goldfeld), according to MergerLinks data and press release.

Macquarie Asset Management, GIC and Anthropic to form Theseus Infrastructure.

Private equity firms Macquarie Asset Management, GIC and AI research and development company Anthropic, agreed to form Theseus Infrastructure, a newly formed data centre infrastructure platform established to serve Anthropic, according to press releases. Financial terms were not disclosed.

Macquarie Asset Management is advised by Simpson Thacher & Bartlett (led by Gabriel Silva, Eli Hunt and Gabriela Astolphi), according to MergerLinks data and press release.

Lindsay Goldberg to acquire a majority stake in Alro Steel.

Lindsay Goldberg, a private equity firm, agreed to acquire a majority stake in Alro Steel, a distributor of metals and performance plastics, according to press release. Financial terms were not disclosed.

Alro Steel is advised by JP Morgan, according to MergerLinks data and press release.

ICONIQ, Lightspeed and avra led a $545m Series G round in Whatnot.

ICONIQ, Lightspeed and avra, venture capital firms, led a $545m Series G round in Whatnot, a live-streaming shopping platform, with participation from Kleiner Perkins, Robinhood, Standard Capital, Bond Capital, CapitalG, Durable Capital Partners, DST Global and Greycroft, according to press releases.

Samsung SDI to acquire the remaining 49.99% stake in SynergyCells from General Motors.

Samsung SDI, a Korea-based company principally engaged in the manufacture and distribution of secondary cells and PDPs, agreed to acquire the remaining 49.99% stake in SynergyCells, a battery manufacturing joint venture established by Samsung SDI and General Motors, from General Motors, a global automotive manufacturer, according to press releases. Financial terms were not disclosed.

HIG Capital completes the acquisition of Phoenix ME.

HIG Capital, an alternative asset investment firm, completed the acquisition of Phoenix ME, a UK-based mechanical and electrical engineering contractor, according to press releases. Financial terms were not disclosed.

Nvidia invests $3bn in Lancium for AI power access. (The Economic Times)

Nvidia is reportedly planning to invest up to $3bn in Texas-based data centre infrastructure developer Lancium, in a deal valuing the company at about $10bn. An initial $2bn investment would give Nvidia roughly a 20% stake, with another $1bn tied to grid interconnection milestones.

The investment would give Nvidia greater exposure to power and land infrastructure needed for AI data centres as electricity availability becomes a key constraint on GPU deployment. Lancium is also reportedly targeting an IPO in 2027.

Sargeant said to exit Venezuela oil stake amid pressure campaign. (Bloomberg)

Florida energy investor Harry Sargeant III has agreed to sell his interests in Venezuela’s second-largest oil producer following pressure to exit the business.

Sargeant signed a $300m deal to sell Bluewave Properties, through which he held a minority stake in North American Blue Energy Partners. The buyer is linked to controlling shareholder Alejandro Betancourt.

Modiv Industrial stockholders approve merger with Global Net Lease. (Press Release)

Modiv Industrial shareholders have approved the company's previously announced acquisition by Global Net Lease, with about 94% of votes cast supporting the transaction.

The deal is expected to close around August 12, subject to remaining customary conditions. Following completion, Modiv shareholders will receive Global Net Lease shares and are expected to see a 25% increase in dividend income.

BP to sell 20% stake in Manakin gas field to Trinidad's NGC. (Reuters)

BP has agreed to sell a 20% stake in the Trinidad portion of the Cocuina-Manakin natural gas field to state-owned National Gas Company, expanding NGC’s participation in the cross-border project with Venezuela.

BP and NGC plan to market 70% of the project’s gas to Atlantic LNG, while the remaining 30% will supply petrochemical operations. The development is progressing toward a final investment decision expected by the end of 2026.

ACV Auctions said to explore sale amid takeover interest. (Bloomberg)

ACV Auctions is exploring strategic options, including a potential sale, after receiving takeover interest. The digital vehicle marketplace is working with financial advisers to evaluate possible transactions.

The company is also considering a strategic partnership as an alternative to a sale. The review remains ongoing and may not result in a transaction.

Start-up bank backed by Palmer Luckey set to raise $1.5bn. (FT)

Palmer Luckey-backed Erebor is in advanced talks to raise about $1.5bn at an $8bn pre-money valuation, nearly doubling its previous $4.35bn valuation. The startup bank has attracted rapid growth from clients across technology, AI, defense and crypto.

Lux Capital, Human Capital, Valor Equity Partners, Andreessen Horowitz and SV Angel are expected to participate in the financing. Erebor’s deposits have reportedly grown from about $1bn in March to roughly $4bn, though terms of the fundraising could still change.

Nvidia taps Wall Street for $500bn funding commitment. (Bloomberg)

Apollo, Blackstone, BlackRock, Brookfield, Goldman Sachs and KKR are partnering with Nvidia to source up to $500bn in financing for artificial intelligence infrastructure and the chipmaker’s customers.

The investment firms plan to create dedicated pools of capital at scale and competitive rates, supporting the rapid expansion of AI computing and data centre infrastructure.

Defense tech firm Lyntris targets $2.5bn valuation in US IPO. (Reuters)

Trive Capital-backed Lyntris is targeting a valuation of up to $2.53bn in its US initial public offering, as strong investor demand for defense-related listings continues. The company and existing shareholders are seeking to raise up to $528m by offering 24m shares at $19–$22 each.

Lyntris, formed through the combination of Accelint and Vitesse, produces battlefield sensors and software and has a backlog of about $923.9m. The company plans to list on the New York Stock Exchange under the ticker LYNX.

SEC settles charges over SpaceX, Klarna, pre-IPO share fraud. (Reuters)

The US Securities and Exchange Commission has brought settled fraud charges against Adit Ventures Management, its founder and three partners over pre-IPO investments in companies including Klarna and SpaceX.

The regulator alleged that Adit misrepresented investments and used client funds for its own benefit. The firm agreed to a settlement involving disgorgement and a civil penalty without admitting the allegations, while founder Eric Munson denied the claims.

EMEA

Nichols completes the acquisition of VITHIT for €75m.

Nichols, an international soft drinks company, completed the acquisition of VITHIT, a beverage company that develops and markets functional drinks fortified with vitamins and other nutritional ingredients, for €75m ($86m), according to press releases.

VITHIT was advised by Food Strategy Associates, DC Advisory (led by Laurence O'Shaughnessy) and Arthur Cox (led by John Matson). Nichols was advised by Berenberg (led by Clayton Bush), Singer Capital Markets (led by Sara Hale) and Hudson Sandler (led by Alex Brennan), according to MergerLinks data and press releases.

Ondas completes the acquisition of Cyberhawk for $125m.

Ondas, a provider of autonomous systems, robotics, and mission-critical technologies, completed the acquisition of Cyberhawk, a provider of critical infrastructure intelligence, drone-based inspection, visual data management and AI-enabled analytics, for $125m, according to press releases.

Ondas was advised by Escalate PR. Cyberhawk was advised by Lincoln International, according to press releases.

Hollywood mogul Ari Emanuel to buy theater giant in $6bn deal. (WSJ)

Ari Emanuel’s live entertainment business, Mari Group, has agreed to acquire British theater operator ATG Entertainment from private equity firm Providence Equity Partners, expanding its presence in live entertainment.

The transaction values ATG at around £4.5bn ($6bn), including debt, and marks a major investment by Mari Group in the global theater business.

Morgan Stanley-backed PNE says sale prospects unclear as bids trail market valuation. (Reuters)

German renewable energy developer PNE has raised doubts over its sale process after initial interest indicated potential buyers were unwilling to match its market valuation. A transaction could value the Morgan Stanley-backed company at more than €1bn ($1.16bn).

Morgan Stanley owns about 50.06% of PNE and is seeking to exit its investment after an earlier sale attempt failed. The process remains uncertain and may not result in a transaction.

Fortuna boosts gold projects in Senegal with $200m deal. (Bloomberg)

Canada's Fortuna Mining has agreed to acquire the Bambadji gold project in Senegal from Barrick Mining and IAMGOLD for $200m, expanding its presence in West Africa.

The project is adjacent to Fortuna's Diamba Sud asset, giving the company control of about 60km of potentially gold-bearing ground.

APAC

Tabcorp to acquire BetMakers for AUD267m.

Tabcorp, an Australian gambling and entertainment company, agreed to acquire BetMakers, a B2B wagering technology company, for AUD267m, according to press releases.

Tabcorp is advised by Gilbert + Tobin (led by Alex Kauye and Olivia Blakiston), according to press releases and MergerLinks data.

TPG agrees to buy South Korea's Lotte Rental for $925m. (Bloomberg)

TPG Capital has agreed to acquire a 61.2% stake in South Korea's largest car-rental company, Lotte Rental, reviving a sale process that had previously stalled after an earlier proposed transaction faced regulatory obstacles.

The deal values Lotte Rental at approximately KRW1.31tn ($925m) and is subject to regulatory approvals and customary closing conditions.

Lightstorm bags $262m debt facility led by IndusInd Bank. (DealStreetAsia)

Lightstorm has secured an INR25bn ($262m) 10-year debt facility from IndusInd Bank to fund the expansion of its AI-focused fibre infrastructure across India. The financing is fully underwritten and will support high-capacity, low-latency links between major data centre hubs.

The investment will also strengthen connectivity between India and hyperscale AI hubs in Singapore and Malaysia through the I-2SEA subsea cable system, supporting rising demand from AI and cloud infrastructure.

Shein plans to launch Hong Kong IPO as soon as August 19. (DealStreetAsia)

Shein is preparing to launch its Hong Kong initial public offering as soon as August 19 after beginning to market the share sale to investors this week. The fast-fashion retailer is targeting a valuation of about $30bn–$40bn.

The planned listing represents a significant valuation reset from the $98.2bn Shein achieved in 2022, as slowing growth, weaker margins and higher trade costs weigh on the business.

Singapore-based data center operator is said to confidentially file for a $5bn IPO in the US. (Bloomberg)

DayOne Data Centers has reportedly confidentially filed for a US initial public offering. The Singapore-based data centre operator is backed by investors including GIC and has been exploring options to access public markets.

The company is said to be targeting a listing as early as next quarter and has considered raising around $5bn through the IPO, although the timing, size and terms of the offering remain subject to change.

Bain-backed Dhoot Transmission's $321m India IPO fully subscribed. (DealStreetAsia)

Bain Capital-backed Dhoot Transmission’s INR30.6bn ($321m) initial public offering has reached full subscription in India, with shares offered at INR829–INR871 ($8.7-$9.14) each. The IPO includes both a fresh share issue and a partial exit by existing shareholders.

Ahead of the offering, Dhoot Transmission raised about INR9.18bn ($96.32m) from 72 anchor investors, including BlackRock and Abu Dhabi Investment Authority. The shares are scheduled to begin trading on the BSE and NSE on August 17.

KKR-backed LEAP India's $260m IPO fully subscribed on final bidding day. (Reuters)

KKR-backed LEAP India’s $260m initial public offering was fully subscribed on the final day of bidding, with particularly strong demand from non-institutional investors. The supply chain company is seeking a valuation of about $734m.

The IPO includes a $50.3m fresh issue and a $209.7m offer-for-sale, mostly by KKR-backed Vertical Holdings II. LEAP India also raised INR7.43bn ($77.96m) from anchor investors, with shares set to begin trading on August 14.

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