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Top Highlights
Goldman Sachs Asset Management, a provider of investment management solutions, agreed to acquire Synthon International, an international pharmaceutical company, from BC Partners, a private equity firm, for $2.1bn.
Synthon International is advised by PricewaterhouseCoopers, Barclays, Rothschild & Co and Latham & Watkins. Goldman Sachs Asset Management is advised by Deloitte, Goldman Sachs, Jefferies & Company, A&O Shearman, Sullivan & Cromwell and White & Case.
Pharming Group, a global biopharmaceutical company, agreed to acquire Abliva, a biotechnology company, based in Lund, Sweden, focused on developing medicines for the treatment of mitochondrial disease, for $66m.
Abliva is advised by Moelis & Co, PricewaterhouseCoopers (led by Jon Walberg), Vinge and Fogel & Partners. Pharming is advised by Van Lanschot Kempen, Mannheimer Swartling, NautaDutilh, FTI Consulting (led by Victoria Foster Mitchell) and LifeSpring Life Sciences Communication (led by Leon Melens).
Aebi Schmidt, a Swiss company manufacturing agricultural machinery, heavy and municipal equipment, agreed to merge with Shyft, an American automobile design company. Under the terms of the agreement, each outstanding share of Shyft common stock will be exchanged for 1.04 shares of the combined company's common stock.
Aebi Schmidt is advised by Alantra, Bar & Karrer and Wuersch & Gering. Shyft is advised by Deutsche Bank, Davis Polk & Wardwell, Lenz & Staehelin and FGS Global (led by Jim Barron). Debt financing is provided by UBS and Zurcher Kantonalbank.
Deal Round up
AMERICAS
Boston-based banks Berkshire Hills and Brookline in talks to combine. ( WSJ)
Warburg Pincus announces $2.2bn multi-asset continuation fund. ( Press Release)
Constellation Wealth Capital closes $1bn inaugural fund. ( Press Release)
EMEA
Grant Thornton partners back stake sale to buyout firm Cinven. ( Sky News)
APAC
Blackstone emerges as the leading bidder for the Haldiram deal. ( Bloomberg)
Alibaba said to near $1bn Intime sale to Youngor Fashion. ( Bloomberg)
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FINANCIAL ADVISORS
LEGAL ADVISORS
PR ADVISORS
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Read on...
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AMERICAS
Vitesse Energy, an independent energy company, agreed to acquire Lucero Energy, a pure-play North Dakota Bakken / Three Forks producer, for $166m.
Lucero Energy is advised by Peters & Co, RBC Capital Markets, Burnet Duckworth & Palmer and Davis Graham & Stubbs. Vitesse is advised by Evercore, Jefferies & Company, Baker Botts and Blake Cassels & Graydon.
Bridgewater Bank, a Canadian Schedule l chartered bank, completed the acquisition of First Minnetonka City Bank, a bank. Financial terms were not disclosed.
First Minnetonka City Bank was advised by Olsen Palmer and Winthrop & Weinstine. Bridgewater Bank was advised by D.A. Davidson & Co and Barack Ferrazzano Kirschbaum & Nagelberg (led by Joseph T. Ceithaml).
AleAnna Energy, an oil and gas company, went public via merger with Swiftmerge Acquisition, a special purpose acquisition company, in a $710m deal.
Investment managers ART and APG agreed to acquire a stake in Pattern Energy, a renewable energy and transmission infrastructure firm, from Riverstone, a private markets asset management firm. Financial terms were not disclosed.
Apax-backed Altus Fire & Life Safety, a provider of regulation-mandated fire and life safety services, completed the acquisition of Facility Compliance Services, a provider of inspection, testing, maintenance and compliance services. Financial terms were not disclosed.
INEOS, a global chemical company, agreed to acquire the Gulf of Mexico business of CNOOC International, a Canadian oil and gas company. Financial terms were not disclosed.
Boston-based banks Berkshire Hills and Brookline in talks to combine. ( WSJ)
Boston-based regional banks Berkshire Hills and Brookline are reportedly in discussions to merge.
The proposed deal would combine the two banks, each holding approximately $12bn in assets, with an official announcement possible as early as next week, provided the negotiations remain on track.
Historically, Berkshire Hills has worked with RBC Capital Markets and Luse Gorman, according to MergerLinks data.
Warburg Pincus announces $2.2bn multi-asset continuation fund. ( Press Release)
Warburg Pincus announced the first close of its multi-asset continuation fund, raising over $2.2bn in commitments. The fully capitalized transaction was co-led by HarbourVest Partners, Ardian, and CPP Investments, with no need for syndication.
The fund includes a diversified portfolio of Warburg Pincus companies across geographies and sectors. Limited Partners had the option to cash out or roll their investments into the fund for future growth potential. The deal provides portfolio companies with additional time and capital to pursue value creation under Warburg Pincus's continued oversight.
Constellation Wealth Capital closes $1bn inaugural fund. ( Press Release)
Constellation Wealth Capital, an alternative asset manager focused on providing capital solutions to the wealth management sector, has announced the successful final closing of its inaugural fund, the Constellation Wealth Capital Fund.
The fund secured over $1bn in capital commitments, surpassing its target due to strong interest from a diverse group of institutional investors, including insurance companies, endowments, foundations, asset managers, fund-of-funds, and family offices. The fund aims to deliver attractive risk-adjusted returns through structured minority investments in well-positioned wealth management firms across the United States.
EMEA
The UK government has approved the sale of Royal Mail to Czech billionaire Daniel Kretinsky's EP Group and now it awaits potential scrutiny by the Competition and Markets Authority.
The £2.6bn ($3.3bn) deal, agreed in May, underwent a government review under national security laws due to Royal Mail's significance as critical infrastructure.
Royal Mail is advised by Bank of America (led by Edward Peel), Barclays (led by Alisdair Gayne), Goldman Sachs (led by Mark Sorrell), Slaughter & May (led by Richard Smith and John Papanichola), Brunswick Group and Headland Consultancy (led by Susanna Voyle and Matt Denham). EP Group is advised by BNP Paribas (led by George Holst), Citigroup (led by Barry Weir and Christopher Wren), JP Morgan (led by Dwayne Lysaght), Kirkland & Ellis, Paul Weiss Rifkind Wharton & Garrison (led by Neel V. Sachdev and Stefan Arnold-Soulby) and FGS Global (led by Chris Ryall and Alastair Elwen). Financial advisors are advised by Ashurst (led by Tom Mercer). Debt financing is provided by Societe Generale, UniCredit, BNP Paribas and Citigroup. Debt providers are advised by Linklaters (led by Nick Syson).
Stonepeak, an alternative investment firm, agreed to acquire Forgital, a manufacturer of advanced forged and machine-finished components for aerospace and industrial end markets, from Carlyle, a global investment firm, for €2bn ($2.1bn).
Stonepeak is advised by Hogan Lovells, Legance, Paul Weiss Rifkind Wharton & Garrison and Simpson Thacher & Bartlett. Carlyle is advised by JP Morgan and Latham & Watkins.
IK Partners, a European private equity firm, agreed to acquire a majority stake in Dains Accountants, a provider of accountancy and business advisory services in the UK, from Horizon Capital, a private equity firm. Financial terms were not disclosed.
Horizon Capital is advised by OC&C Strategy Consultants, Alvarez & Marsal, Rothschild & Co, CMS, McDermott Will & Emery, Deloitte and JMAN Group.
Ageas, a Belgian multinational insurance company, agreed to acquire the underwriting business of Saga, UK's specialist provider of products and services to people aged over 50, for £67.5m ($85m).
Saga is advised by Lazard, Addleshaw Goddard, Herbert Smith Freehills and Headland Consultancy (led by Susanna Voyle).
The Blackstone Group, an American alternative investment management company, completed a €250m ($262m) investment in Sia Partners, a strategy consulting firm.
Sia Partners is advised by JP Morgan and A&O Shearman. Blackstone is advised by Eight Advisory and Freshfields Bruckhaus Deringer.
Investment firms Proteus Enterprises and Gladstone Investment agreed to acquire the defense business of Ricardo, a global strategic, environmental and engineering consultancy, for $85m.
FTV Capital, a sector-focused growth equity investment firm, agreed to invest in SilverTree Equity-backed Orbus Software, a provider of SaaS enterprise transformation software. Financial terms were not disclosed.
Orbus Software is advised by Jefferies & Company.
GIC, a global investor, and MEAG, the asset manager of Munich Re Group, agreed to invest €1.4bn ($1.47bn) in the EMEA business of Vantage Data Centers, a global provider of hyperscale data center campuses.
Vantage is advised by REQ.
Vonovia, a German property company, agreed to acquire the remaining 13% stake in Deutsche Wohnen, a German property company and one of the 30 companies that compose the DAX index, for €1.21bn ($1.27bn).
Grant Thornton partners back stake sale to buyout firm Cinven. ( Sky News)
Partners at UK-based accountancy firm Grant Thornton have voted in favor of selling a majority stake to Cinven, a private equity firm.
GTUK's partnership unanimously backed the deal.
Havas, a communications and marketing firm, announced the successful listing of its ordinary shares on the regulated market of Euronext in Amsterdam under the ticker HAVAS and the ISIN code NL0015002AH0.
"The successful completion of Havas’s spin-off and listing on Euronext Amsterdam marks a pivotal step towards the realisation of our long-term vision. It gives us additional flexibility to accelerate our growth across our key business lines and strengthens our unique position within the dynamic marketing and communications industry," Yannick Bolloré, Havas Chairman and CEO.
APAC
Ricardo, a British firm that provides engineering, environmental and strategic consultancy services, agreed to acquire an 85% stake in E3 Advisory, an independent, employee-owned infrastructure advisory firm, for AUD101m ($64m).
Blackstone emerges as the leading bidder for the Haldiram deal. ( Bloomberg)
A consortium led by Blackstone has reportedly become the preferred bidder for a minority stake in Haldiram Snacks, following prolonged negotiations. Blackstone is said to be in discussions to partner with Singapore state investor GIC and the Abu Dhabi Investment Authority.
The consortium is expected to invest approximately $1.6bn for a 20% stake in Haldiram, valuing India’s leading snacks manufacturer at around $8bn.
Alibaba said to near $1bn Intime sale to Youngor Fashion. ( Bloomberg)
Alibaba Group is reportedly close to finalizing a deal to sell its department store business to Youngor Fashion for approximately $1bn.
The sale of Intime could be officially announced in the coming days.
Historically, Alibaba has worked with Morgan Stanley and Simpson Thacher & Bartlett, according to MergerLinks data.
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