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Top Highlights
Google, an American multinational technology company, completed the acquisition of Wiz, a cloud security platform, for $32bn, according to press releases.
Sonida Senior Living, an owner, operator and investor in independent living, completed the merger with CNL Healthcare Properties, a non-traded real estate investment trust, in a $1.8bn deal, according to press releases.
Sonida Senior Living was advised by BMO Capital Markets, Newmark Group, RBC Capital Markets, Fried Frank Harris Shriver & Jacobson (led by Philip Richter), Sidley Austin and Ignition Investor Relations (led by Jason Finkelstein). BMO Capital Markets, Newmark Group and RBC Capital Markets were advised by White & Case (led by Denise A. Cerasani). Debt financing was provided by BMO Capital Markets and RBC Capital Markets. CNL Healthcare was advised by KeyBanc Capital Markets, Arnold & Porter Kaye Scholer and Ropes & Gray. KeyBanc Capital Markets was advised by Jones Day (led by Benjamin Stulberg), according to press releases and MergerLinks data.
Alphabet, a collection of companies, the largest of which is Google, completed the acquisition of Intersect, a provider of data center and energy infrastructure solutions by co-locating industrial demand with dedicated gas and renewable power generation, from TPG Rise Climate Fund, a dedicated climate investing platform of TPG, Climate Adaptive Infrastructure, an infrastructure investment firm, and Greenbelt Capital Partners, a private equity firm, for $4.75bn, according to press releases.
Alphabet was advised by Cleary Gottlieb Steen & Hamilton (led by Daniel Ilan), Freshfields (led by Kevin Yingling), Nossaman (led by Brooke M. Marcus) and Perkins Coie (led by Jane Rueger). Intersect was advised by JP Morgan, Morgan Stanley and Orrick Herrington & Sutcliffe (led by David Gold). TPG was advised by Kirkland & Ellis (led by Erin K. Bartlett) and Paul Weiss Rifkind Wharton & Garrison (led by Annie Herdman), according to press releases and MergerLinks data.
AMERICAS
Janus Henderson says Victory bid not superior to Trian deal. ( Reuters)
Anduril to acquire ExoAnalytic Solutions to expand space unit. ( Bloomberg)
Repsol considers new investors for US renewables unit. ( Reuters)
EMS eyes overseas acquisitions after Medley purchase. ( Reuters)
Starboard builds $350m stake in CarMax. ( Bloomberg)
I Squared nears $10bn for flagship infrastructure fund. ( Bloomberg)
Bank of America hires four tech bankers to boost dealmaking. ( Reuters)
EMEA
ProSieben explores sale of parts of digital portfolio. ( Reuters)
CTT sounds out advisers on options for Banco CTT. ( Bloomberg)
Saudi miner Saleh Abdulaziz Al Rashed & Sons jumps after $67m IPO debut. ( Bloomberg)
APAC
Japan banking lobby to issue guidelines on LBO lending. ( Bloomberg)
Flipkart plans to invite banks to pitch for IPO. ( Bloomberg)
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AMERICAS
Greenbelt Capital Partners, a private equity firm that invests in middle-market companies, agreed to acquire Peak Utility Services Group, a company specializing in providing end-to-end infrastructure solutions for communities, particularly focusing on utility services, from ORIX Capital Partners, a private equity firm focused on making direct equity investments in established middle-market companies throughout the United States, according to press releases. Financial terms were not disclosed.
Greenbelt Capital Partners is advised by Harris Williams & Co,
Kirkland & Ellis and Llorente Y Cuenca (LLYC) (led by Joanne Lessner). Debt financing is provided by Sound Point Capital Management. ORIX Capital Partners is advised by Stifel, Reed Smith and Prosek Partners, according to press releases.
Cintas, a provider of uniforms, mats, mops, cleaning and restroom supplies, first aid and safety products, fire extinguishers and testing, and safety courses, agreed to acquire UniFirst, a uniform rental company, for $5.5bn, according to press releases.
Cintas is advised by Morgan Stanley, Davis Polk & Wardwell (led by James P. Dougherty) and FGS Global (led by Zachary Tramonti). UniFirst is advised by Goldman Sachs, JP Morgan, Paul Hastings and Joele Frank (led by Joseph Sala), according to press releases.
Puratos, a supplier of ingredients, services, and innovative solutions for the bakery, patisserie, and chocolate industries, agreed to acquire Dawn Foods, a global bakery manufacturing and distribution company, according to press releases. Financial terms were not disclosed.
Dawn Foods is advised by BMO Capital Markets and Winston & Strawn. Puratos is advised by Bank of America, ING Bank, KBC Bank, JP Morgan and A&O Shearman, according to press releases.
Blackstone, an American multinational private equity, alternative asset management, and financial services firm, and Blue Owl, an alternative asset management firm, completed the investment in Atlas Holdings, a private investment & equity firm, according to press releases. Financial terms were not disclosed.
Atlas Holdings was advised by Evercore, Kirkland & Ellis, Proskauer Rose and Longacre Square Partners (led by Kate Sylvester). Blackstone was advised by Paul Weiss Rifkind Wharton & Garrison (led by Udi Grofman, Matthew Collin and David Hepp). Blue Owl was advised by Fried Frank Harris Shriver & Jacobson, according to press releases and MergerLinks data.
HKW, a middle-market private equity firm, completed the acquisition of Watershield Industries, a manufacturer specializing in firefighting equipment, according to press releases. Financial terms were not disclosed.
HKW was advised by Taft Stettinius & Hollister. ebt financing was provided by Capital For Business, LongWater Opportunities and Siguler Guff & Company. Watershield Industries was advised by Hennepin Partners, according to press releases.
Landmark Credit Union, a member-owned financial cooperative providing retail banking and lending services, agreed to acquire American National Bank-Fox Cities, a regional bank providing business and consumer banking services, from American National Bancorp, a full-service retail and business customers bank, according to press releases. Financial terms were not disclosed.
Landmark Credit Union is advised by ALM First and Honigman Miller Schwartz & Cohn. American National Bank-Fox Cities is advised by Hovde Group and Boardman & Clark, according to press releases.
Blackstone Energy Transition Partners, an energy‑focused private equity business investing across the energy value chain, agreed to acquire Advanced Cooling Technologies, a provider of thermal‑management solutions, according to press releases. Financial terms are not disclosed.
Advanced Cooling Technologies is advised by Houlihan Lokey and Reed Smith. Blackstone is advised by UBS and Kirkland & Ellis, according to press releases.
Kinderhook Industries-backed The Eagle Leasing Company, a provider of portable storage containers, completed the acquisition of the portable storage assets of Graf Bros Leasing, a storage company, according to press releases. Financial terms were not disclosed.
Kinderhook Industries and The Eagle Leasing Company were advised by Alvarez & Marsal and Bernicker Law, according to press releases.
EchoStor Technologies, a technology solutions provider, completed the acquisition of Pennant Networks, a provider of IT consulting and technology solutions for biotech organizations, according to press releases. Financial terms were not disclosed.
EchoStor Technologies was advised by Embarc Advisors and Goodwin Procter, according to press releases.
AE Industrial Partners-backed AIM MRO, a provider of material‑management and component‑repair solutions for the aerospace maintenance industry, completed the acquisition of Advanced Air West Palm Beach, a manufacturer of custom landing‑gear components for aerospace applications, according to press releases. Financial terms were not disclosed.
AIM MRO was advised by Stanton PRM (led by Matthew Conroy), according to press releases.
Bluespring Wealth-backed Security Financial Management, a provider of financial planning and investment advisory services, agreed to merge with Pittman Financial Group, a financial services firm, according to press releases. Financial terms are not disclosed.
Bluespring Wealth is advised by Vested, according to press releases.
95 Percent Group, a trusted source for comprehensive, proven literacy programs, agreed to acquire TouchMath, provider of explicit, multisensory math programs designed to help students with learning differences build foundational and cumulative math concepts, according to press releases. Financial terms were not disclosed.
95 Percent Group is advised by FINN Partners, according to press releases.
Booz Allen Ventures, the corporate venture arm of Booz Allen Hamilton that invests in early-stage companies, completed the investment in Hadean, a technology company specializing in AI‑enabled simulation and spatial computing, according to press releases. Financial terms were not disclosed.
Gen Digital, a company that offers consumer cybersecurity and digital privacy software and subscription services, completed the acquisition of Trellis, a technology-driven platform that simplifies and automates shopping for insurance, according to press releases. Financial terms were not disclosed.
Zendesk, a provider of customer service software and support ticketing system to businesses of all sizes, agreed to acquire Forethought, a generative AI company offering customer support automation tools, according to press releases. Financial terms were not disclosed.
SOCOTEC, a France-based global company providing testing, inspection, certification, and quality assurance services, completed the acquisition of American Engineers Group, a provider of multidisciplinary engineering consulting services with a primary focus on transportation and infrastructure projects, according to press releases. Financial terms were not disclosed.
Merit Financial Advisors, a Georgia-based financial advisory firm that specializes in financial planning and wealth management solutions, completed the acquisition of eomans Consulting Group, a Marietta, Georgia-based wealth management firm, according to press releases. Financial terms were not disclosed.
Janus Henderson says Victory bid not superior to Trian deal. ( Reuters)
Janus Henderson stated that its board determined that Victory Capital’s $8.6bn takeover proposal is not superior to the $7.4bn take-private deal agreed with Trian and General Catalyst.
Victory made its offer public last month, increasing pressure on the asset manager as competing proposals emerged for the business.
Anduril to acquire ExoAnalytic Solutions to expand space unit. ( Bloomberg)
Anduril Industries is acquiring national security firm ExoAnalytic Solutions to expand its space defense program and strengthen its satellite tracking capabilities.
The acquisition will roughly double the size of Anduril’s space unit by adding about 130 employees specializing in missile defense modeling and space tracking technologies.
Repsol considers new investors for US renewables unit. ( Reuters)
Spain’s Repsol is considering bringing in new investors to its US renewables business as it reviews its renewable power strategy.
The company has built a portfolio of wind, solar and hydroelectric projects since 2018 as part of its transition toward a multi-energy model.
EMS eyes overseas acquisitions after Medley purchase. ( Reuters)
Brazilian drugmaker EMS is considering international acquisitions after agreeing to buy Sanofi’s Brazilian generics unit Medley for more than $500m.
The company is also preparing to launch its own semaglutide-based injector pens in Brazil as it expands its pharmaceutical portfolio.
Starboard builds $350m stake in CarMax. ( Bloomberg)
Activist investor Starboard Value has built a stake of about $350m in used car retailer CarMax as it sees an opportunity to accelerate the company’s turnaround.
The firm has nominated CEO Jeff Smith and Frontdoor chairman Bill Cobb to the company’s board as it pushes for strategic changes.
Toronto-listed MDA Space is seeking to raise about $300m through an initial public offering in the US to obtain a US ticker.
The robotics and satellite company, valued at about $4.1bn in Toronto, filed with the US Securities and Exchange Commission for the listing.
I Squared nears $10bn for flagship infrastructure fund. ( Bloomberg)
I Squared Capital is close to raising more than $10bn for its next infrastructure fund, approaching two-thirds of its $15bn target.
The firm plans to complete the initial fundraising round this month as investors seek exposure to assets such as power grids, transport networks and data centers.
Bank of America hires four tech bankers to boost dealmaking. ( Reuters)
Bank of America has hired four senior technology bankers as it seeks to expand its presence in technology dealmaking.
The hires include Gary Kirkham from Centerview Partners, who will join as executive vice chair focused on technology sectors.
EMEA
ProSieben explores sale of parts of digital portfolio. ( Reuters)
ProSiebenSat.1 plans to retain online units ParshipMeet and Flaconi while exploring a sale of other digital assets in its portfolio.
The review is part of a broader strategic overhaul led by Marco Giordani of Berlusconi-backed MFE-MediaForEurope as the broadcaster reshapes its digital business.
CTT sounds out advisers on options for Banco CTT. ( Bloomberg)
CTT — Correios de Portugal has invited advisers to pitch for roles as it explores strategic options for its Banco CTT banking unit.
Discussions are at an early stage and no formal sale process has been launched. The company said it regularly evaluates strategic scenarios for the business.
Saudi miner Saleh Abdulaziz Al Rashed & Sons jumps after $67m IPO debut. ( Bloomberg)
Saudi Arabian miner Saleh Abdulaziz Al Rashed & Sons rose in its Riyadh trading debut after completing a $67m IPO.
Shares climbed as much as 20% from the SAR45 ($12) listing price before trimming gains. Trading was briefly halted early in the session due to strong demand.
APAC
Japan banking lobby to issue guidelines on LBO lending. ( Bloomberg)
Japan’s main banking lobby plans to introduce risk management guidelines for banks providing leveraged loans for M&A transactions.
The Japanese Bankers Association is expected to publish the guidance in a report on leveraged buyout financing later this month.
Flipkart plans to invite banks to pitch for IPO. ( Bloomberg)
Walmart-backed Flipkart is preparing to invite banks to pitch for roles on a potential IPO as it advances early planning for a public listing.
The e-commerce company has held informal talks with investors and bankers about a listing in Mumbai that could take place later in 2026 or in early 2027.
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