Gibraltar Industries completes the acquisition of OmniMax International from Strategic Value Partners for $1.335bn.

Read on...

Scroll down to read deal descriptions. Your suggestions and comments support the democratisation of M&A data. If you'd like to contribute to the future editions, drop us a line.

AMERICAS

Brookfield to acquire Peakstone Realty Trust for $1.2bn.

Brookfield, an alternative asset manager, agreed to acquire Peakstone Realty Trust, an industrial real estate investment trust with a strategic focus on the industrial outdoor storage sector, for $1.2bn, according to press releases.

Peakstone Realty Trust is advised by Bank of America and Latham & Watkins. Brookfield is advised by Citigroup, Gibson Dunn & Crutcher and Joele Frank (led by Aaron Palash), according to press releases.

Devon Energy to merge with Coterra Energy.

Devon Energy, a company engaged in hydrocarbon exploration, agreed to merge with Coterra Energy, an energy company engaged in hydrocarbon exploration, according to press releases. Financial terms were not disclosed.

Coterra Energy is advised by Goldman Sachs, JP Morgan and Gibson Dunn & Crutcher. Devon Energy is advised by Evercore and Skadden Arps Slate Meagher & Flom (led by Steve Gill), according to press releases.

Hearst and Walt Disney-backed ESPN completes the acquisition of media business of NFL.

Hearst, a company that operates as a diversified media and information provider, and Walt Disney-backed ESPN, a sports media network, completed the acquisition of NFL media business, part of NFL, a US professional football league, in exchange for a 10% equity stake in ESPN, according to press releases.

Hearst was advised by Clifford Chance (led by Kathleen L Werner). ESPN was advised by JP Morgan (led by Xavier Loriferne), Cravath Swaine & Moore (led by Cole DuMond) and FGS Global (led by Drew Brown), according to press releases.

Cadre Holdings completes the acquisition of Tyr Tactical for $175 m.

Cadre Holdings, a company operating in the safety‑equipment manufacturing sector, completed the acquisition of Tyr Tactical, a business focused on tactical gear and protective equipment for military and law‑enforcement customers, for $175 m, according to press releases.

Cadre Holdings was advised by Borden Ladner Gervais (led by Stefan Timms), Joele Frank (led by Andrew B. Siegel) and The IGB Group (led by Matt Berkowitz). Tyr Tactical was advised by William Blair & Co, according to MergerLinks data and press releases.

SunSource completes the acquisition of Vytl Controls from MiddleGround.

SunSource, a fluid power and automation distributor, completed the acquisition of Vytl Controls, an industrial equipment supplier, from MiddleGround, a private equity firm, according to press releases. Financial terms were not disclosed.

SunSource was advised by Debevoise & Plimpton (led by Christopher Anthony). Vytl Controls and MiddleGround were advised by Robert W Baird, Solomon Partners and Fried Frank Harris Shriver & Jacobson, according to press releases.

Snackruptors to acquire a North American Snacks business from Hain Celestial for $115m.

Snackruptors, a family-owned snacks manufacturer, agreed to acquire a North American Snacks business from Hain Celestial, a global health and wellness company, for $115m, according to press releases.

Hain Celestial is advised by Goldman Sachs and Cravath Swaine & Moore, according to press releases.

Arsenal Capital Partners-backed Invio Automation completes the acquisition of Calvary Robotics.

Arsenal Capital Partners-backed Invio Automation, a full-service automation partner specializing in the development and implementation of advanced automation solutions, completed the acquisition of Calvary Robotics, an automation and robotics company, according to press releases. Financial terms were not disclosed.

Calvary Robotics was advised by Houlihan Lokey, according to press releases.

ESAB Corporation to acquire Eddyfi Technologies for $1.45bn.

ESAB Corporation, a global provider of connected fabrication technology, agreed to acquire Eddyfi Technologies, a provider of non-destructive testing solutions, for $1.45bn, according to press releases.

Donaldson Company to acquire Facet filtration business of Filtration Group for $820m.

Donaldson Company, a provider of filtration solutions, agreed to acquire Facet filtration business of Filtration Group, a provider of filtration consumables that are designed to drive innovation and deliver solutions, for $820m, according to press releases.

Elon Musk is in advanced talks to combine SpaceX and xAI. (Bloomberg)

The rocket and satellite group, SpaceX, and the artificial intelligence firm, xAI, are expected to be merged, as Elon Musk moves to consolidate his business interests.

The companies have informed some investors about the plans, and an agreement could be announced as soon as this week.

Abu Dhabi royal to invest in Trump's crypto venture. (WSJ)

An Abu Dhabi royal agreed to acquire a stake in the Trump family’s cryptocurrency venture under a deal signed shortly before Donald Trump’s inauguration.

Representatives of Sheikh Tahnoon bin Zayed Al Nahyan agreed to purchase a 49% stake in World Liberty Financial for $500m.

Capgemini to divest its US unit, criticized for contracts with ICE. (Bloomberg)

Capgemini plans to sell its US-based government services unit amid scrutiny over its contracts with the US Immigration and Customs Enforcement.

The French IT services provider stated that it will immediately begin the sale process for the subsidiary, Capgemini Government Solutions.

Disney is close to picking parks chief D'Amaro as next CEO. (Bloomberg)

The board of Walt Disney is aligning on promoting theme parks chairman Josh D’Amaro to chief executive and is expected to vote on naming a new leader in the coming week.

D’Amaro, who has led the division that generates most of Disney’s profits since 2020, would succeed Bob Iger if approved. No final decision has been made.

EMEA

Rieter completes the acquisition of Barmag from OC Oerlikon for $922m.

Rieter, a supplier of installations for manufacturing yarns from short-staple fibers, completed the acquisition of Barmag, a manufacturer for manmade fiber spinning systems and texturing machines, from OC Oerlikon, a materials and surface solutions provider, for $922m, according to press releases.

Rieter was advised by Alantra (led by Michael Maag), AZB & Partners (led by Divya Mundra), Freshfields (led by Heiner Braun and Bastian Schuster) and Lenz & Staehelin (led by Simone Ehrsam and Tino Gaberthuel). OC Oerlikon was advised by UBS, Homburger (led by Daniel Hasler) and Datasite, according to press releases.

Chesnara completes the acquisition of UK life insurance business from HSBC for $355m.

Chesnara, a life and pensions consolidator, completed the acquisition of UK life insurance business from HSBC, a global banking and financial services firm, for $355m, according to press releases.

Chesnara was advised by ABN Amro, Fenchurch Advisory Partners (led by Paul Miller), RBC Capital Markets (led by James Agnew), Pinsent Masons and Teneo. Debt financing was provided by Panmure Liberum (led by Stephen Jones), according to press releases.

Transaction Network Services completes the acquisition of the Radianz business from BT Group.

Transaction Network Services, a provider of infrastructure-as-a-service solutions to the financial, communications and payments markets, completed the acquisition of the Radianz business from BT Group, a provider of fixed and mobile telecommunications, according to press releases. Financial terms were not disclosed.

Transaction Network Services was advised by Evercore and Jones Day (led by Julian Runnicles). BT Group was advised by Citigroup and Bryan Cave Leighton Paisner, according to MergerLinks data and press releases.

Jupiter Fund Management completes the acquisition of CCLA Investment Management for £100m.

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

Jupiter Fund Management was advised by Fenchurch Advisory Partners (led by Vincent Etienne Guillaume Bounie), Clifford Chance (led by Erik O'Connor) and Edelman (led by Andrew Wilde), according to press releases.

Sumitomo Mitsui Banking Corporation and Standard Chartered Bank Hong Kong complete a $400m investment in Polestar.

Sumitomo Mitsui Banking Corporation, a Japanese multinational banking and financial services institution, and Standard Chartered Bank Hong Kong, a banking company, completed a $400m investment in Polestar, a company specializing in electric cars, according to press releases.

Polestar is advised by Bank of America, according to press releases.

CAB rejects increased possible offer by Helios consortium. (Reuters)

CAB Payments rejected the Helios consortium’s increased $1.15‑per‑share proposal, maintaining the offer undervalues the company despite stronger trading and recent operational gains. The consortium, which has support for just over 50% of shares, has until March 2 to decide whether to submit a firm bid.

Helios Consortium is advised by Rothschild & Co, according to press releases.

Blue Water Venture Partners to acquire JACADI Paris.

Blue Water Venture Partners, an investment firm, agreed to acquire JACADI Paris, a clothing brand, according to press releases. Financial terms were not disclosed.

Zurich reveals Beazley stake after UK insurer spurns bid. (Bloomberg)

Zurich Insurance Group disclosed a 1.5% stake in Beazley, about two weeks after the UK specialty insurer rejected its latest takeover approach. The Swiss company now holds roughly 8.87m shares, or 1.47% of Beazley’s equity.

Eramet shares tumble as sudden CEO firing rattles investors. (Reuters)

Eramet shares fell sharply in Paris after the miner dismissed its chief executive just months into his tenure, surprising investors and raising questions over corporate governance.

The company stated that it had removed Paulo Castellari due to disagreements over operating methods and has temporarily reappointed chairwoman Christel Bories as chief executive.

NCC is in talks to sell its unit to CRH-Heidelberg Group. (Bloomberg)

Nordic construction group NCC is in advanced talks to sell its industry business to a consortium that includes CRH and Heidelberg Materials.

Bouygues’ Colas unit is also part of the potential buyer group. The business could be valued at more than $800m, and the parties are finalizing deal details, with an announcement possible in the coming weeks.

Xeinadin auction pulled after buyers reject £1bn valuation. (FT)

The proposed sale of UK accountancy firm Xeinadin has been paused after bids failed to meet the more than £1bn ($1.36bn) valuation sought by its private equity owner.

Exponent, which invested in the business about four years ago, had hired Evercore to run a competitive auction. However, interest did not translate into offers at the level Exponent was seeking, prompting the decision to halt the sale process.

Barry Callebaut CEO left after a high-level split over cocoa. (Reuters)

Barry Callebaut and its former chief executive, Peter Feld, parted ways last month following a disagreement over a proposal to separate the company’s cocoa business.

Members of the chocolate maker’s board, including chairman Patrick De Maeseneire, opposed the plan. Cocoa accounted for 31% of Barry Callebaut’s sales revenue and 15.5% of its operating profit in the 2024/25 financial year.

APAC

Aura to acquire Qoria for $675m.

Aura, agreed to acquire Qoria, a technology company dedicated to keeping children safe and well in their digital lives, for $675m, according to press releases.

Aura is advised by Jefferies & Company, Herbert Smith Freehills Kramer and Latham & Watkins. Qoria is advised by Azure Capital, Stifel, Gibson Dunn & Crutcher and Thomson Geer, according to press releases.

Volution Group completes the acquisition of AC Industries for $124m.

Volution Group, an indoor air quality solutions manufacturer, completed the acquisition of AC Industries, an underground mining ventilation ducting, for $124m, according to press releases.

Volution Group was advised by Norton Rose Fulbright (led by Fiona Millington, Marshall Bromwich and Ka Chi Cheung) and FTI Consulting (led by Richard Mountain), according to press releases.

Bain Capital to acquire FineToday from CVC Capital Partners.

Bain Capital, a private investment firm, agreed to acquire FineToday, a personal care company, from CVC Capital Partners, a private equity and investment advisory firm, according to press releases. Financial terms were not disclosed.

India to merge key power lenders to help electrify economic boom. (Bloomberg)

India is planning to merge two of its largest power utility lenders to help unlock investments worth hundreds of billions in the country’s energy sector.

The government intends to integrate Power Finance Corp. and its unit REC, which currently compete in the debt market.

GIC and Mubadala to join KKR's $10bn STT deal. (Bloomberg)

GIC and Mubadala Investment are in talks to join KKR and Singapore Telecommunications in a potential acquisition of data center operator STT GDC, in what could be one of the largest digital infrastructure deals in recent months.

The sovereign wealth funds would back the KKR-led transaction as minority co-investors. A potential deal could value STT GDC at more than $10bn, including debt, and discussions are ongoing.

India mulls 49% foreign limit in state banks to fund growth. (Bloomberg)

India is considering allowing foreign investors to own stakes of up to 49% in state-run banks as policymakers look to fund economic growth while retaining government control.

The move is aimed at boosting the country’s credit-to-GDP ratio to 150% from about 56%, federal banking secretary M. Nagaraju stated that adding that authorities are assessing options including fresh capital, more efficient deployment of existing resources, and changes to capital adequacy requirements.

China AI deals push Hong Kong listings to busiest start of the year. (Bloomberg)

Hong Kong has seen its busiest start to the year for new listings, with initial public offerings raising about $5bn in January 2026, the highest total on record for the month.

The market hosted 13 listings, including companies spanning artificial intelligence chip design, large language models, and consumer goods.

Temasek and LIC plan to share sales in NSE's India IPO. (Bloomberg)

Temasek Holdings and Life Insurance Corporation of India are expected to be among the key sellers in the potential $2.5bn initial public offering of the National Stock Exchange of India.

State Bank of India and BI Capital Markets are also likely to participate as sellers in the long-awaited listing, which is expected to involve the sale of about 4% to 4.5% of the exchange’s equity by existing shareholders.

Daily Review

Connect the World of Dealmakers