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AMERICAS

Gemspring Capital-backed Trax completes the merger with FORM.

Gemspring Capital-backed Trax, a global pioneer of image recognition, completed the merger with FORM, a SaaS mobile data collection platform, according to press releases. Financial terms were not disclosed.

FORM was advised by Moelis & Co and Kirkland & Ellis. Trax was advised by Deutsche Bank and Holland & Knight. Gemspring Capital was advised by Lincoln International and Paul Weiss Rifkind Wharton & Garrison (led by Edward T. Ackerman and Jeffrey D. Marell), according to press releases and MergerLinks data.

Argano completes the acquisition of Stormloop Technologies.

Argano, a global digital services consultancy firm, completed the acquisition of Stormloop Technologies, an IT boutique consulting firm, according to press releases. Financial terms were not disclosed.

Stormloop Technologies was advised by Clearsight Advisors (led by Brendan Curran) and Pillsbury Winthrop Shaw Pittman. Argano was advised by Ernst & Young, Kirkland & Ellis (led by Thomas Laughlin and Jordan Rex) and Edelman (led by Jessica Resnick-Ault), according to press releases and MergerLinks data.

KKR to acquire Arctos Partners for $1.95bn.

KKR, a global investment firm, agreed to acquire Arctos Partners, a premier institutional investor in professional sports franchise stakes, for $1.95bn, according to press releases.

Arctos is advised by Bank of America, Kirkland & Ellis (led by Jonathan Benloulou and Michael Considine) and Prosek Partners. KKR is advised by Kirkland & Ellis and Simpson Thacher & Bartlet, according to press releases.

Trive Capital completes the investment in PavCon.

Trive Capital, the Dallas-based private equity firm, completed the investment in PavCon, a provider of advanced predictive analytics and decision-support solutions, according to press releases. Financial terms were not disclosed.

PavCon was advised by Stout Capital and Bean Kinney & Korman. Trive Capital was advised by Willkie Farr & Gallagher (led by Brandon McCoy and Omar Shariff), according to press releases and MergerLinks data.

Gallant Capital-backed Arctiq completes the acquisition of Verinext.

Gallant Capital-backed Arctiq, an IT services provider, completed the acquisition of Verinext, a technology integration company, according to press releases. Financial terms were not disclosed.

Verinext was advised by Guggenheim Partners and McDermott Will & Schulte. Arctiq was advised by Stradling Yocca Carlson & Rauth, according to press releases.

Tiger Global leads a $1bn Series H round in Cerebras Systems.

Tiger Global, an investment firm, led a $1bn Series H round in Cerebras Systems, a company specializing in AI acceleration technology, with participation from Benchmark, Fidelity Management & Research Company, Atreides Management, Alpha Wave Global, Altimeter, AMD, Coatue and 1789 Capital, according to press releases.

Cerebras Systems was advised by Zm Communications, according to press releases.

CAPTRUST completes the acquisition of Meritage Portfolio Management.

CAPTRUST, a provider of independent, client-first financial advice and investment management services, completed the acquisition of Meritage Portfolio Management, a provider of wealth management services, according to press releases. Financial terms were not disclosed.

Meritage was advised by Houlihan Lokey, according to press releases.

MedRisk completes the acquisition of Horizon Casualty Services.

MedRisk, a national workers’ compensation services company, completed the acquisition of Horizon Casualty Services, an affiliate of Horizon Blue Cross Blue Shield of New Jersey, according to press releases. Financial terms were not disclosed.

Horizon was advised by UBS, according to MergerLinks data.

Sequoia Capital leads a $500m Series D round in ElevenLabs.

Sequoia Capital, an investment firm, led a $500m Series D round in ElevenLabs, a software company that specializes in developing natural-sounding speech synthesis software using deep learning, with participation from Andreessen Horowitz, ICONIQ, Lightspeed Venture Partners, Evantic Capital and BOND, according to press releases.

Autopilot Ventures leads a $300m Series C round in Skyryse.

Autopilot Ventures, a research-driven venture firm, led a $300m Series C round in Skyryse, a developer of aviation automation and simplified flight controls, with participation from Fidelity Management & Research Company, ArrowMark Partners, Atreides Management, BAM Elevate, Baron Capital, Durable Capital Partners, Positive Sum, Qatar Investment Authority, Rokos Capital Management and Woodline Partners, according to press releases.

Alloy completes the acquisition of Look Listen.

Alloy, the marketing and transformation partner for the age of intelligence, completed the acquisition of Look Listen, the Emmy-nominated creative and digital agency, according to press releases. Financial terms were not disclosed.

Barrick to spin off North American gold assets through IPO. (Press Release)

Barrick Mining has appointed interim chief executive Mark Hill to lead the company as it prepares to spin off its top North American gold assets through an initial public offering. The move marks a significant strategic shift for the world’s second‑largest gold producer as it seeks to reshape its portfolio and unlock value from its highest‑quality operations.

The decision comes amid a broader reset for Barrick following years of underperformance relative to industry peers and the abrupt exit of former chief executive Mark Bristow in September 2025. The transition also follows reports that activist investor Elliott Investment Management has built a substantial stake in the company, adding further pressure for change.

Electrical equipment maker Forgent Power raises $1.51bn in US IPO. (Reuters)

Forgent Power Solutions raised $1.51bn in its US initial public offering after pricing 56m shares at $27 each, within its targeted range of $25 to $29. The deal gives the Minnesota‑based electrical equipment manufacturer a valuation of roughly $8.2bn, reflecting strong investor demand ahead of its 2026 debut on the public markets.

The offering included both new shares and stock sold by existing shareholders, making it one of the more notable US industrial listings in 2026. The proceeds will support Forgent’s expansion as it continues to scale its operations across key segments of the electrical equipment market.

Bob's Discount Furniture raises $331m in US IPO. (Reuters)

Bob’s Discount Furniture raised $331m in its US initial public offering after pricing about 19.5m shares at $17 each, within its marketed range of $17 to $19. The deal values the Bain Capital‑backed retailer at roughly $2.22bn ahead of its public market debut.

The offering comes as US IPO activity continues to pick up, with companies testing investor appetite for consumer‑focused listings amid strong equity markets and a resilient domestic economy.

Merck veteran-led Eikon Therapeutics raises $381m in IPO. (Bloomberg)

Eikon Therapeutics, a late‑stage cancer drug developer led by former Merck executives, raised $381m in an upsized US initial public offering. The company sold 21.18m shares at $18 each, after increasing the deal size from its originally marketed 17.65m shares at a range of $16 to $18.

The offering follows earlier indications that Merck planned to acquire roughly 10% of the shares. The Millbrae‑based company’s larger‑than‑expected IPO reflects strong investor interest ahead of its next stage of clinical development.

SpaceX opens IPO pitching to non-US banks. (Bloomberg)

SpaceX has held meetings with non‑US banks as part of preparations for a potential initial public offering. The company is working toward a listing later in 2026, pursuing an ambitious timeline as it evaluates options for its public‑market debut.

Foreign banks presented their pitches at SpaceX’s California offices in mid‑January 2026, with one group consisting of European lenders and another comprising banks from other regions. Deliberations remain preliminary, and details of any formal syndicate have not been finalized.

EMEA

Peter Jones completes the acquisition of American Golf from Endless.

Peter Jones completed the acquisition of American Golf, the UK’s largest golf retailer, from Endless, a private equity firm, according to press release. Financial terms were not disclosed.

Peter Jones was advised by Grant Thornton and Reed Smith (led by Daryl Cue). Endless was advised by Alvarez & Marsal, Addleshaw Goddard and KPMG, according to press releases and MergerLinks data.

Intera Partners to acquire Suvia Group from MB Funds.

Intera Partners, a private equity firm with a focus on growth and internationalization of Finnish and Swedish companies, agreed to acquire Suvia Group, a provider of damage inspection and assessment, collision repair and spare parts services, from MB Funds, a private equity firm, according to press releases. Financial terms were not disclosed.

MB Funds is advised by Dittmar & Indrenius (led by Anders Carlberg), according to press releases and MergerLinks data.

Ryan completes the acquisition of WYM Rating.

Ryan, a global tax services and software provider, completed the acquisition of WYM Rating, a commercial property consultancy, according to press releases. Financial terms were not disclosed.

Canadian pension funds to exit UK’s biggest port operator in £10bn deal. (FT)

Two Canadian pension funds are preparing to sell their stakes in Associated British Ports in a transaction that could value the UK’s largest ports operator at more than £10bn ($13.7bn). The move comes as investors show renewed appetite for large transport and infrastructure assets.

CPPIB, which owns 34% of ABP, and OMERS, holding 33%, have hired Morgan Stanley to evaluate options and gauge buyer interest. The planned sale would reshape the shareholder base of ABP, which operates 21 ports across the UK and is considered a core long‑term infrastructure holding.

Turkey said to hire EY for landmark bridge privatization deal. (Bloomberg)

Turkey has appointed Ernst & Young to lead a multibillion‑dollar privatization of key transport assets, including two major Istanbul bridges and a network of highways. The mandate forms part of the government’s broader effort to attract private capital into national infrastructure.

EY will advise on the sale of operating rights for the 15 July Martyrs and Fatih Sultan Mehmet bridges—linking Istanbul’s European and Asian sides—along with at least nine toll roads. Deliberations are ongoing, and details of the process remain private.

APAC

Heidelberg Materials Australia to acquire the construction materials division of Maas Group for up to AUD1.7bn.

Heidelberg Materials Australia, a provider of high-quality construction materials, agreed to acquire the construction materials division of Maas Group, an Australian diversified industrial services and real estate company, for up to AUD1.7bn ($1.2bn), according to press releases.

Meituan to acquire Dingdong Fresh Holding from Dingdong for $717m.

Meituan, a web based shopping platform, agreed to acquire Dingdong Fresh Holding, a holding company, from Dingdong, a self-operated freshness platform and a life service app that provides distribution services, for $717m, according to press releases.

Syngenta is said to hire banks for potential Hong Kong IPO. (Bloomberg)

Syngenta Group has begun selecting banks for a potential Hong Kong initial public offering that could become one of the city’s largest listings. The move signals renewed momentum in the company’s long‑anticipated market debut.

China International Capital and UBS are helping prepare the offering, while additional roles are expected for banks, including Bank of America and Goldman Sachs. Deliberations remain ongoing, and final syndicate appointments have not yet been confirmed.

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