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Top Highlights
GFL Environmental, a waste management services provider, agreed to acquire SECURE Waste Infrastructure, a Canadian public waste management company that specializes in oilfield waste treatment and disposal, for CAD6.4bn ($4.7bn), according to press releases.
GFL Environmental is advised by Barclays and Stikeman Elliott. SECURE Waste Infrastructure is advised by ATB Financial, Moelis & Co, RBC Capital Markets, Bennett Jones, and McCarthy Tetrault, according to press releases.
Somnigroup, a manufacturer of mattresses and bedding products, agreed to acquire Leggett & Platt, an American diversified manufacturer that designs and produces various engineered components and products for homes and automobiles, for $2.5bn, according to press releases.
Somnigroup is advised by Goldman Sachs and Cleary Gottlieb Steen & Hamilton. Leggett & Platt is advised by JP Morgan, Latham & Watkins (led by Christopher Drewry) and Joele Frank (led by Tim Lynch), according to press releases and MergerLinks data.
STG, a Menlo Park, CA-based mid-market private equity investment firm, completed the acquisition of Carrier Logistics, the premier provider of transportation management software, according to press releases. Financial terms were not disclosed.
Carrier Logistics was advised by Arcadia Capital and Sheppard Mullin Richter & Hampton. STG was advised by Paul Hastings, according to press releases.
AMERICAS
Nir Zuk agrees to buy Liberty Bank for AI strategy. ( WSJ)
EMEA
PolyPeptide shares jump on takeover interest. ( Bloomberg)
Dangote plans pan-African IPO for refinery. (Bloomberg)
APAC
Ping An seeks $1bn sale of software-focused PE stakes. ( Bloomberg)
TCL considers stake sale in India TV business. ( Bloomberg)
Victory Giant seeks up to $2.2bn in Hong Kong IPO. ( Bloomberg)
Skyechip signs underwriting deal for Malaysia IPO. ( Bloomberg)
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COMPANIES
FINANCIAL ADVISORS
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AMERICAS
Halma, the global group of life-saving technology companies, completed the acquisition of Surgistar, a US-based ophthalmic surgical instruments and device manufacturer, for $90m, according to press releases.
Vertiv, a global provider of critical digital infrastructure, completed the acquisition of BMarko Structures, a US-based provider of custom-engineered structural fabrication, according to press releases. Financial terms were not disclosed.
Vertiv was advised by Ruder Finn, according to press releases.
Cisco, an American multinational technology conglomerate corporation, agreed to acquire Galileo, a platform for enterprise GenAI evaluation and observability, according to press releases. Financial terms were not disclosed.
Stryker, a medical technology firm, agreed to acquire Amplitude Vascular Systems, a privately held medical technology company developing a next-generation intravascular lithotripsy platform designed to treat calcified peripheral arterial disease, according to press releases. Financial terms were not disclosed.
Nir Zuk agrees to buy Liberty Bank for AI strategy. ( WSJ)
Palo Alto Networks founder Nir Zuk has agreed to acquire California-based Liberty Bank as part of plans to build AI tools for financial services.
The deal involves buying a major stake from private equity owners, with additional investors expected to participate.
26North Partners has raised nearly $6bn for its first private equity fund, exceeding its initial $4bn target.
The vehicle attracted commitments from pension funds, sovereign wealth funds and family offices, with founder Josh Harris also seeding the fund.
EMEA
Hexagon, a multinational industrial technology company, agreed to acquire Waygate Technologies, a provider of non-destructive testing solutions utilizing computed tomography, radiography, and remote visual inspection from Baker Hughes, an energy technology company, for $1.45bn, according to press releases.
Baker Hughes is advised by JP Morgan, according to press releases.
Perella Weinberg Partners, a global independent advisory firm, agreed to acquire Gleacher Shacklock, a premier independent advisory firm headquartered in London, according to press releases. Financial terms were not disclosed.
Nordic Climate Group, a provider of cooling and heating solutions, completed the acquisition of Iceline Yorkshire, a refrigeration specialist based in Doncaster, according to press releases. Financial terms were not disclosed.
Alpha FMC, a global provider of specialist consulting services to the financial services industry, agreed to acquire JPSB, a specialist SimCorp-focused technology consulting and implementation firm, according to press releases. Financial terms were not disclosed.
Otis, a provider of elevator and escalator manufacturing, installation, service and modernization, completed the investment in WeMaintain, a fast-growing, technology-enabled service company for the elevator and escalator industry, according to press releases. Financial terms were not disclosed.
PolyPeptide shares jump on takeover interest. ( Bloomberg)
PolyPeptide shares surged after reports of takeover interest from private equity firms including EQT and KKR, driving strong investor reaction.
The stock rose as much as 16%, lifting the company’s market value to about $1.5bn and marking its highest level in over three years.
Dangote plans pan-African IPO for refinery. ( Bloomberg)
Aliko Dangote is planning a pan-African IPO for his oil refining business, with shares to be listed across multiple exchanges.
Advisers have been appointed as the company prepares for a potential listing of the continent’s largest refinery.
APAC
Alibaba, a Chinese multinational technology company, led a $293m funding round in ShengShu, a Beijing, China-based multimodal AI startup for content creation, with participation from Baidu Ventures and TAL Education, according to press releases.
Ping An seeks $1bn sale of software-focused PE stakes. ( Bloomberg)
Ping An is looking to sell about $1bn of private equity fund stakes focused on software as it reduces exposure to the sector.
The insurer has hired Campbell Lutyens to run the process, which began in March and is currently ongoing.
TCL considers stake sale in India TV business. ( Bloomberg)
TCL is exploring a potential stake sale in its Indian television manufacturing unit that could raise at least $200m to support expansion.
The company is working with an adviser as it evaluates options to grow the business, with discussions still at an early stage.
Victory Giant seeks up to $2.2bn in Hong Kong IPO. ( Bloomberg)
Victory Giant Technology has launched a Hong Kong listing that could raise up to $2.2bn, marking one of the city’s largest IPOs this year.
The company is offering shares to investors as it taps demand for AI-related hardware components.
Skyechip signs underwriting deal for Malaysia IPO. ( Bloomberg)
Skyechip has secured underwriting agreements with local banks for its upcoming Malaysia IPO, advancing its listing plans.
Proceeds will support AI-focused R&D, with bookrunners including Maybank and CIMB overseeing the offering.
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