|
AMERICAS
Global Payments, a provider of payment technology and software solutions, agreed to acquire EVO Payments, a global provider of payment technology integrations and acquiring solutions, for $4bn.
"The acquisition of EVO is highly complementary to our technology-enabled strategy and provides meaningful opportunities to increase scale in our business globally. Together with EVO, we are positioned to deliver an unparalleled suite of distinctive software and payment solutions to our combined 4.5m merchant locations and more than 1.5k financial institutions worldwide," Cameron Bready, Global Payments President and COO.
EVO Payments is advised by Citigroup and King & Spalding. Global Payments is advised by Bank of America, JP Morgan, Wachtell Lipton Rosen & Katz and Abernathy MacGregor Group. Debt financing is provided by Bank of America, Barclays, Evercore, Goldman Sachs, Greenhill & Co and JP Morgan.
W P Carey, an investment management company that provides long-term sale-leaseback and build-to-suit financing, completed the merger with Corporate Property Associates 18, a non-traded real estate investment trust, in a $2.7bn deal.
"We are pleased to have structured a transaction that will provide investors in CPA:18 – Global with liquidity as well as the opportunity to continue their investment in a similar company, receiving income in the form of quarterly dividends and participating in the potential upside in a leading publicly traded REIT. It also provides W P Carey – the surviving company – with the opportunity to purchase high quality assets that align well with its own portfolio, generating stable and recurring real estate revenues that will support our focus on growth and income for investors," Jason Fox, W P Carey CEO.
Corporate Property was advised by Morgan Stanley, Clifford Chance and Troutman Pepper. Morgan Stanley was advised by Proskauer Rose. W P Carey was advised by Bank of America, Wells Fargo Securities and DLA Piper. Bank of America was advised by Fried Frank Harris Shriver & Jacobson.
HIG Capital, an alternative investment firm, completed the acquisition of Barton & Associates, a healthcare staffing company. Financial terms were not disclosed.
“We are very proud of Barton’s success to date and all that the team has accomplished. Under the guidance of Barton’s visionary founder, Thomas F. Ryan, our Company has dedicated itself to providing valuable career opportunities to its employees as we serve the critical provider and clinician staffing needs of healthcare facilities across the United States. We have long recognized that what we do at Barton is critical to the healthcare industry in our nation, especially at a time when demand continues to outstrip supply following a global pandemic. We expect to continue on this same path with HIG Capital, and are confident that a partnership with HIG Capital will enable us to continue executing on our long-term vision for Barton," Rob Indresano, Barton President and CEO.
Barton & Associates was advised by JP Morgan and WilmerHale. HIG Capital was advised by Bank of America, UBS and McDermott Will & Emery.
Transaction Data Systems, a provider of pharmacy-focused, patient-centric solutions, completed the acquisition of PrescribeWellness, a pharmaceutical manufacturer and a provider of patient relationship management solutions, from Tabula Rasa HealthCare, a healthcare technology company, for $140m.
“Independent pharmacists are highly-trusted members of the care community and must be equipped with two-way communication tools enabling them to engage with and retain their patients effectively. A combination of patient communications and prioritized patient engagement tools are needed to facilitate a path to clinical and adherence services, which will now be advanced by PrescribeWellness’s vaccination and medication synchronization solutions," Jude Dieterman, TDS CEO.
Transaction Data was advised by Keval Health and Simpson Thacher & Bartlett. Tabula was advised by Citigroup and Morgan Lewis & Bockius.
Colgate-Palmolive Company, an American multinational consumer products company, agreed to acquire three manufacturing plants from Arbor Investments-backed Red Collar Pet Foods, a manufacturer of mainstream and premium private label pet food, for $700m.
"Our Hill's business is growing well, and we continue to invest to expand production capacity, improve our capabilities with initiatives like our new Small Paws Innovation Center, and better engage pet parents, veterinarians and Hill's retail partners. This investment will help further strengthen the Hill's business today and for the long term," Noel Wallace, Colgate-Palmolive Company Chairman, President and CEO.
Red Collar Pet Foods is advised by Centerview Partners and Kirkland & Ellis. Colgate-Palmolive is advised by Perella Weinberg Partners and Wachtell Lipton Rosen & Katz.
Aramco, a petroleum and natural gas company, agreed to acquire global products business from Valvoline, a distributor of automotive oil, additives, and lubricants, for $2.65bn.
"The sale of Global Products will represent the successful outcome of our strategy to unlock the full, long-term value of our strong but differentiated Retail Services and Global Products businesses. We have built two leading businesses that are well-positioned for continued success as they pursue their individual strategic priorities," Sam Mitchell, Valvoline CEO.
Valvoline is advised by Goldman Sachs, Cravath Swaine & Moore and FGS Global.
Saint-Gobain, a manufacturer and distributor of building materials, completed the acquisition of Kaycan, a manufacturer of premium building products in Canada and the United States, for $928m.
With this acquisition, Saint-Gobain reinforces its worldwide leadership in light and sustainable construction by becoming the top siding player in Canada and enlarging its vinyl offer across the United States with complementary solutions in aluminum and engineered wood.
Kaycan was advised by Credit Suisse. Saint-Gobain was advised by Cleary Gottlieb Steen & Hamilton.
Searchlight Capital, a private equity firm, and Rev Worldwide, a fintech company, agreed to acquire the Netspend's consumer business of Global Payments, an American multinational financial technology company, for $1bn.
"Third, we made significant progress in refining our portfolio to focus on our core corporate clients this quarter by entering into a definitive agreement to sell Netspend's consumer assets to Searchlight Capital and Rev Worldwide for $1bn. Consistent with our strategy, we will retain Netspend's B2B assets, which will be included in our Issuer Solutions business beginning with the third quarter of 2022," Jeff Sloan, Global Payments CEO.
Global Payments is advised by Wachtell Lipton Rosen & Katz.
Augment Infrastructure, a fund manager that focuses on growth strategies in renewable energy and sustainable infrastructure, and the Investment Fund for Developing Countries, a Development Financial Institution owned by the Government of Denmark, agreed to invest $85m in Origo Energia, a distributed generation company in Brazil.
"We are excited to become a shareholder in Origo Energia. Brazil has implemented a robust regulatory framework that we believe promotes the growth of distributed generation in the country and makes Origo well positioned to maintain its leadership in the sector," Viktor Kats, Augment Infrastructure Managing Partner.
Origo Energia is advised by Rothschild & Co.
AEA Investors, a private investment vehicle, completed the acquisition of Burke Porter Group, a provider of automated diagnostic, testing and production solutions, from CEL Global Investment Fund, a private equity fund. Financial terms were not disclosed.
"AEA has an extensive history of partnering with leading companies in the industrial technology and automation industries to achieve growth and operational improvements. Current and past investments include Dematic, Evoqua Water Technologies, Excelitas Technologies and ProMach Group," AEA.
AEA Investors was advised by Joele Frank.
Astorg-backed OPEN Health, a provider of scientific communications and market access services, agreed to acquire The CM Group, a medical communications platform, from NaviMed Capital, a private investment firm. Financial terms are not disclosed.
"We are thrilled to join OPEN Health and continue the journey of being a strategic partner to pharma and biotech customers. With new colleagues and capabilities to utilize, we now have the ingredients to offer an even better suite of integrated solutions to our clients. I would like to thank NaviMed Capital for their partnership in helping The CM Group develop and execute its vision to strengthen its core competencies while expanding into new services and technologies," Daniel Leonard, The CM Group CEO.
Astrog is advised by Latham & Watkins.
Vinci, a global player in concessions, energy and construction businesses, agreed to acquire a 29.99% stake in Grupo Aeroportuario del Centro Norte, a Mexican airport operator, from Fintech Advisory, an investment advisory firm, for $815m.
After the financial closing, expected to be completed by the end of 2022, VINCI Airports' network will include more than 70 airports in 13 countries. Following the recent acquisitions of airports in Brazil and Cape Verde, with this new transaction the business line confirms the continuation of its international expansion strategy and further consolidates its position as the world's leading private airport operator.
Variant commits $450m to backing Web3, DeFi projects. (FS)
Variant, an early-stage venture firm investing in crypto networks and platforms, raised $450m for a new umbrella fund split across a $150m seed purse for Web3 projects and a $300m opportunities vehicle that will double-down on projects with demonstrated traction in our portfolio.
Variant has started the fund, its third, during a bear market that saw venture capital investments in crypto drop 26% year over year in the first half of 2022.
EMEA
Digital Realty, the largest global provider of cloud- and carrier-neutral data center, completed the acquisition of Teraco, a carrier-neutral colocation provider, from private equity firms Berkshire Partners and Permira for $3.5bn.
"We are very excited to complete this transformative transaction that positions Digital Realty as the premier data center and connectivity provider on the high-growth African continent. Today's milestone gives us significant regional scale and access to a premier, high-quality portfolio in Africa's largest market, enhancing our ability to serve growing customer demand for connectivity in the region. We're thrilled to strengthen our global platform and deepen our commitment to investment in Africa, as we capitalize on the tremendous opportunity in the region," A. William Stein, Digital Realty CEO.
Teraco was advised by Goldman Sachs, ENSafrica and Weil Gotshal and Manges. Digital Realty was advised by Solomon Partners, Bowmans, Latham & Watkins and Sard Verbinnen & Co. Permira was advised by Morgan Stanley and Skadden Arps Slate Meagher & Flom. Berkshire was advised by Citigroup, Morgan Stanley and Sard Verbinnen & Co.
W3BCLOUD, a storage and compute infrastructure provider for Web3, agreed to go public via merger with Social Leverage Acquisition I, a publicly traded special purpose acquisition company, in a $1.25bn deal.
"W3BCLOUD is building the next generation infrastructure to support the Web3 economy, transitioning more control and ownership into the hands of developers and customers across industries spanning finance, digital storage, media and entertainment. This transaction allows us to expand our support to Web3 developers and scale with the Web3 economy's anticipated significant growth. I could not be more excited by the depth of experience and knowledge Social Leverage will bring to our company. With the added benefit of SLAC's expertise and continued technical support from AMD and ConsenSys, I believe that W3BCLOUD will emerge as the leading dedicated platform to support the Web3 economy," Sami Issa, W3BCLOUD CEO.
W3BCLOUD is advised by Perella Weinberg Partners, Skadden Arps Slate Meagher & Flom, Blueshirt Group and Karbo Communications. Social Leverage Acquisition I is advised by B. Riley FBR, Barclays and Ropes & Gray. B. Riley FBR and Barclays are advised by Latham & Watkins.
Marti Technologies, a mobility app in Turkey, agreed to go public via merger with Callaway Capital-backed Galata Acquisition, a blank check company, in a $532m deal.
"When we were evaluating the emerging market mobility space, we focused on three key areas: execution, unit economics, and scale. Alper and the Marti team have demonstrated their ability to execute, innovate, and operate within the Turkish landscape. Given relative capital scarcity in Turkey, the team has always focused on unit economics and profitability. And this business improves with scale – the more vehicles they provide, the more users they convert. We are delighted to be announcing our partnership today, and we look forward to Marti's continued success as a publicly traded company on the NYSE," Daniel Freifeld, Galata President.
Marti Technologies is advised by Latham & Watkins and MZ Group. Galata Acquisition is advised by B. Riley FBR and Willkie Farr & Gallagher. B. Riley FBR is advised by White & Case.
Marex, the diversified global financial services platform, agreed to acquire the financial services division of ED&F Man Group, a global agricultural commodities merchant, for $235m.
"We are delighted to welcome the ED&F Man Capital Markets team to Marex. The business is an excellent fit with our existing capabilities, and I am excited by the opportunity of working across the significantly strengthened and expanded global footprint. Marex is gaining a high-quality global team. Underscoring our commitment to grow and better serve our clients, this acquisition creates a more competitive, diversified and resilient firm which will provide an enhanced client offering as well as more opportunities for our staff. This is an exciting time for the firm, and we anticipate a bright future for the combined businesses," Ian Lowitt, Marex Group CEO.
Marex is advised by Barclays and FTI Consulting. ED&F Man is advised by SEC Newgate.
PKN Orlen, a major Polish oil refiner and petrol retailer, completed the merger with Lotos, a vertically integrated oil company based in Gdańsk, Poland.
"The entity to be formed based on the assets of PKN Orlen, the Energa Group, the Lotos Group as well as PGNiG will be the largest company in Central and Eastern Europe, capable of effectively facing the challenges of energy transition and implementing zero- and low-carbon power generation projects, worth billions of Polish złoty. We will be playing in the first league of European fuel and energy companies, which will strengthen our bargaining position when negotiating raw material supplies or access to technologies. In this way we will ensure sustainable, long-term growth of the combined Group, and security of energy supplies for Poles," Daniel Obajtek, PKN Orlen President.
Lotos was advised by Rothschild & Co and Rymarz Zdort. PKN Orlen was advised by Citigroup.
Orrön Energy, an independent, publicly listed renewable energy company, agreed to acquire Slitevind, a Sweden-based company involved in the field of renewable energy, for $88m.
"This is an exciting first acquisition for Orrön Energy, which brings together two companies with the competence, assets and capital to accelerate investments in the energy transition. Slitevind has a highly skilled team and a portfolio of wind assets that adds scale and diversification to Orrön Energy's asset base. Slitevind has been a successful consolidator within the Swedish wind sector for many years and brings a team with the competence and experience to operate, develop and build wind and other renewables assets in the Nordics. I am confident that we together can build on our individual strengths to create a renewables company that will take advantage of the opportunities in the energy transition and deliver on an acquisition and organic growth led strategy to create long-term shareholder value," Daniel Fitzgerald, Orrön Energy CEO.
Orrön Energy is advised by SEB Corporate Finance, Gernandt & Danielsson and Skeppsbron Skatt.
Vontobel, a holding company that operates as an investment bank, completed the acquisition of Swiss Financial Advisers business of UBS, a multinational investment bank and financial services company. Financial terms were not disclosed.
“In view of global developments, Vontobel is strengthening its focus on large and established markets that have a significant number of discerning clients who are seeking a globally active investment advisor. The US continues to rank as the world’s largest investment market with many wealthy clients who want to diversify their portfolios geographically and are therefore looking for high-quality advice,” Georg Schubiger, Vontobel Head Wealth Management.
Vontobel was advised by Prosek Partners. UBS was advised by Bar & Karrer.
Atlas Copco, a Swedish multinational industrial company, completed the acquisition of Lewa, a manufacturer of diaphragm metering pumps, process pumps as well as customized metering systems and production units, and Geveke, an Earth works company, from Nikkiso, a machine industry company, for $733m.
“LEWA has a long tradition of supporting customers and developing leading industrial flow technology for efficient, precise and safe handling of fluids. Through this acquisition we are building our presence and technology offering within positive displacement pumps," Andrew Walker, Atlas Copco Business Area Power Technique President.
Nikkiso was advised by Baker McKenzie.
Masdar, CPPIB among those seeking a stake in Iberdrola’s $1.4bn German wind farm. (FS)
Abu Dhabi’s Masdar and Canada Pension Plan Investment Board are weighing binding offers for a 40% stake in Iberdrola’s German offshore wind farm in a deal that would value it at c. $1.4bn.
Infrastructure funds InfraRed and EIP are also close to making offers on the project known as Wikinger. Europe’s largest utility is holding calls with prospective buyers for the minority stake in the wind farm, and it will select a winner in the coming weeks.
Iberdrola is selling stakes in its wind developments to investment funds to help finance its $153bn 2020-2030 investment plan, mostly devoted to renewables and power grids.
HSBC pushes back against calls to spin-off its Asian business.
HSBC has been urged by top shareholder Ping An Insurance Group of China to consider separating its Asian business to unlock greater value for shareholders.
HSBC said external advisers had reviewed its strategy, and while the results of the review were shared with the board, they would not be made public.
Chief executive Noel Quinn said on Monday: "Look at the half-year results and you'll see the value of the current strategy."
Octopus Energy seeks $1.2bn taxpayer support to seal the deal for stricken Bulb.
Octopus Energy, a British renewable energy group specialising in sustainable energy, is nearing a deal with ministers to acquire Bulb, its smaller competitor, which collapsed late last year.
A deal would involve Octopus paying between $121.5m and $243m to take on Bulb's 1.6m-strong customer base.
An agreement between Octopus and the government to take over Bulb could be reached within weeks, although the complexity of the deal could yet prevent it from happening.
APAC
TAL Dai-ichi Life, a life insurance firm in Australia, completed the acquisition of the Australian life insurance business of Westpac, an Australian bank and financial services provider headquartered in Sydney, for $662m.
"This transaction is another step in simplifying the bank while continuing to help customers with their life insurance needs by partnering with TAL," Jason Yetton, Westpac Group Chief Executive Specialist Businesses & Group Strategy.
TAL Dai-ichi Life was advised by Herbert Smith Freehills. Westpac was advised by JP Morgan and King & Wood Mallesons.
The Carlyle Group, a global investment firm, agreed to invest $1.1bn in Yes Bank, one of India's largest and fastest growing full-service commercial bank.
"We are pleased to welcome Carlyle as a high-caliber investor and partner in Yes Bank. Carlyle has extensive and proven operating experience in the financial services sector, and we look forward to having their invaluable support as we continue to focus on value creation and delivering sustained profitable growth for our customers and shareholders," Prashant Kumar, Yes Bank Managing Director and CEO.
Carlyle is advised by Adfactors PR.
Centurium Capital, a private equity investment firm, led a $200m Series C2 round in NTX, a textile technology company, with participation from NRL Capital.
"Through its proprietary dyeing technology, NTX brought about revolutionary innovation to the global textile supply chain, effectively solving the long-standing pain points of traditional textile manufacturing of high water and energy consumption and pollution. In addition, NTX adds significant value to the industry by helping improve their production efficiency and service capabilities. With ESG as an integral part of our 'invest to transform' investment thesis, we look forward to a long-term partnership with NTX to make positive contributions to the sustainable development of the global textile supply chain," Gary Liu, Centurium Capital Managing Director.
Centurium Capital was advised by Index Capital.
Toyota Tsusho, the trading arm of Toyota, completed the acquisition of the remaining 40% stake in Eurus Energy, a wind energy producer, from Tokyo Electric Power, an electric utility holding company. Financial terms were not disclosed.
Toyota Tsusho has positioned "renewable energy" as one of its most important business strategies for its mid-term business plan. The initiative by Eurus trailblazed and developed, in particular, the wind power projects as early as late 1980s, and has continued its expansion further in the overseas and domestic markets. Furthermore, last November "Carbon Neutral Roadmap 2030" became a concrete action, one of core businesses of which is the renewable energy business, and going forward, this line of business is to be even more accelerated and expanded.
Toyota Tsusho was advised by JP Morgan.
Pax8, a cloud commerce marketplace, completed the acquisition of Umbrellar, a services-led Microsoft cloud solutions provider. Financial terms were not disclosed.
“As we continue to expand into the APAC region, the Umbrellar acquisition will be key to our growth in the New Zealand market. Together, our technology, people, and resources will enable businesses in the APAC region to modernize, digitally transform, and fuel growth with cloud solutions," John Street, Pax8 CEO.
PE firm Falcon House may sell a stake in Indonesia's top European bakery. (FS)
Private equity fund Falcon House Partners is mulling the sale of its controlling stake in Mount Scopus, which owns Indonesia’s biggest European-style bakery chain, in a deal that could value the business at about $200m.
The Singapore-headquartered, Southeast Asian-focused fund is talking to an adviser about the potential sale. Mount Scopus Indonesia also owns a smaller cake and pastry chain, Almondtree.
Toyota-Panasonic battery JV to buy lithium from ioneer's Nevada mine.
A joint battery venture of Toyota Motor, a Japanese multinational automotive manufacturer, and Panasonic, a major Japanese multinational conglomerate corporation, will buy lithium from ioneer's Rhyolite Ridge mining project and use the metal to build electric vehicle batteries in the United States, Reuters reported.
The binding supply deal, announced on Sunday, is the second in less than a month for ioneer and a strong vote of confidence in a project that is racing to be the first new US source of the battery metal in decades.
China's Alibaba strives to keep NYSE listing as SEC puts it on the watchlist.
Alibaba Group on Monday said it would work to maintain its New York Stock Exchange listing alongside its Hong Kong listing after the Chinese e-commerce giant was placed on a delisting watchlist by US authorities.
Alibaba stock was down 4.5% in a near-flat Hong Kong market in early trade, following its 11.1% decline in New York on Friday.
The company on Friday became the latest of more than 270 firms to be added to the US Securities and Exchange Commission’s list of Chinese companies that might be delisted for not meeting auditing requirements.
Djarum-backed Indonesian e-commerce player Blibli inches closer to IPO.
Indonesian e-commerce player Blibli is looking at tapping the public market in Jakarta to raise at least $400m in its initial public offering later this month or early September 2022.
The company, also known as Blibli, is working with Credit Suisse and Morgan Stanley to explore a possible first-time share sale. Other banks could be added to the lineup, Bloomberg reported.
A representative for Blibli said the company is open to options that would expand its ecosystem.
Bain Capital seeks $5bn in Asia fund, smaller than rivals. (FS)
US-based multi-asset alternative investment firm Bain Capital is seeking to raise $5bn for its fifth Asia-Pacific fund. The Boston-based buyout firm started marketing its fifth Asia fund in July, targeting a first close in December and final completion in the first quarter. The fund has the remit to grow to $6bn, Bloomberg reported.
The smaller fund reflects Bain Capital trying to strike a balance between management fees and finding investments it can then exit later to reap better returns. Its previous four funds have clocked net returns of 20% to 25%, after investing in healthcare and drug companies, digital infrastructure as well as software, and restaurant firms.
|
