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AMERICAS

Thrive to acquire Abacode.

Thrive, a global technology outsourcing provider, agreed to acquire Abacode, a cybersecurity and compliance solutions provider, according to press releases. Financial terms were not disclosed.

Thrive is advised by Stephens and V2 Communications (led by Hannah Johnston), according to press releases.

Strategic Value Partners to acquire Red Oak power facility from Morgan Stanley Infrastructure Partners.

Strategic Value Partners, an investment management firm, agreed to acquire Red Oak, power facility from Morgan Stanley Infrastructure Partners, a company that directs and manages infrastructural assets for individual and institutional investors, according to press releases. Financial terms were not disclosed.

Morgan Stanley Infrastructure Partners is advised by Jefferies & Company and Santander, according to press releases.

Atar Capital-backed WinCup completes the acquisition of ConverPack.

Atar Capital-backed WinCup, a manufacturer of disposable foodservice products, completed the acquisition of ConverPack, a manufacturer of hot and cold paper cups, according to press releases. Financial terms were not disclosed.

WinCup was advised by Finn Partners (led by Lauren Dunaj), according to press releases.

Osceola-backed Valor Exterior Partners completes the acquisition of Kirkin Exteriors.

Osceola-backed Valor Exterior Partners, a residential roofing and exterior home services contractor, completed the acquisition of Kirkin Exteriors, a full-service roofing and contracting company, according to press releases. Financial terms were not disclosed.

Osceola Capital was advised by Schifino Lee (led by Joseph Priest), according to press releases.

Aspen Standard Wealth to acquire SKY Investment.

Aspen Standard Wealth, a wealth management firm, agreed to acquire SKY Investment, a registered investment advisor, according to press releases. Financial terms were not disclosed.

Aspen Standard Wealth is advised by Michael Walsh Communications (led by Michael Walsh), according to press releases.

Riverwood Capital and Susquehanna-backed Cognosos completes the acquisition of Cox 2M.

Riverwood Capital and Susquehanna-backed Cognosos, a provider of AI-driven process visibility solutions, completed the acquisition of Cox 2M, a provider of internet of things solutions, according to press releases. Financial terms were not disclosed.

Cognosos was advised by Walker Sands Communications, according to press releases.

Mill Rock Capital-backed Tandym Group completes the acquisition of Entitech Solutions.

Mill Rock Capital-backed Tandym Group, a healthcare software company, completed the acquisition of Entitech Solutions, provider of tailored solutions for healthcare and life sciences organizations, according to press releases. Financial terms were not disclosed.

Tandym was advised by Akin Gump Strauss Hauer & Feld, according to press releases.

Vehlo to acquire Total Customer Connect.

Vehlo, a provider of integrated software, agreed to acquire Total Customer Connect, a company focused on customer retention and service lane technology for automotive dealerships, according to press releases. Financial terms were not disclosed.

Total Customer Connect is advised by Presidio Technology Partners, according to press releases.

Bessemer Venture Partners and Bain Capital led a $150m Series D round in MaintainX.

Bessemer Venture Partners and Bain Capital, a private equity firms, led a $150m Series D round in MaintainX, a maintenance and frontline work execution platform, with participation from D. E. Shaw Ventures, Amity Ventures, August Capital, Founders Circle Capital, Sozo Ventures, and Fifth Down Capital, according to press releases.

BlackBird Financial completes the investment in Constellation Brands.

BlackBird Financial, an investment firm, completed the investment in Constellation Brands, a beverage company, according to press releases. Financial terms were not disclosed.

Credent Wealth Management completes the acquisition of TFG Advisors.

Credent Wealth Management, a provider of financial management planning and advisory services, completed the acquisition of TFG Advisors, a provider of wealth management and financial planning services, including portfolio design and analysis, tax services, risk management, and estate planning, according to press releases. Financial terms were not disclosed.

Samsung to acquire Xealth.

Samsung, a multinational conglomerate that operates in various sectors, agreed to acquire Xealth, a digital health integration platform, according to press releases. Financial terms were not disclosed.

Privy completes the acquisition of Emotive.

Privy, a provider of ecommerce marketing automation for growing brands, completed the acquisition of Emotive, a conversational SMS marketing company, according to press releases. Financial terms were not disclosed.

EMEA

Inspired Pet Nutrition to acquire Sopral from CapVest and Parquest.

Inspired Pet Nutrition, a pet food manufacturer, agreed to acquire Sopral, a French specialist in dog, cat, and horse nutrition, from CapVest and Parquest, a private equity firms, according to press releases. Financial terms were not disclosed.

Parquest is advised by Amala Partners (led by Jean-Baptiste
Marchand and Jean-Michel Cagin), according to MergerLinks data.

Clarity AI completes the acquisition of ecolytiq.

Clarity AI, an AI-powered sustainability platform that allows users to invest, shop, and report sustainably, completed the acquisition of ecolytiq, a climate engagement platform for financial institutions, according to press releases. Financial terms were not disclosed.

Banks line up £1.75bn of debt funding for KKR Spectris bid. (Bloomberg)

JP Morgan is among a consortium of lenders arranging £1.75bn ($2.38bn) in debt financing to support KKR’s acquisition of Spectris, a UK-based maker of precision testing equipment and software. Other participants include Jefferies, Crédit Agricole, and KKR Capital Markets.

KKR’s winning bid values Spectris at £4.1bn ($5.57bn), surpassing an earlier £3.8bn ($5.16bn) offer from a rival consortium led by Advent International, highlighting strong interest in high-precision instrumentation businesses.

Saudi delivery app Jahez to buy major stake in Qatar’s Snoonu. (Bloomberg)

Jahez, the Saudi Arabian delivery platform, has announced its acquisition of a 75% stake in Qatari e-commerce and delivery firm Snoonu for $225m. The deal also includes Jahez subscribing to an additional 1.56% of new Snoonu shares for $20m, expanding its footprint in the Gulf region and signaling improved exit opportunities for regional venture capital investors.

The transaction marks a strategic move by Jahez to strengthen its cross-border logistics and delivery capabilities while boosting its presence in the fast-growing Qatari market. The acquisition comes amid growing interest in digital infrastructure and e-commerce expansion in the Middle East.

PE firms circle Astorg’s €5bn fund services firm IQ-EQ. (Bloomberg)

Blackstone, Permira, Carlyle Group, and EQT are among the private equity firms weighing bids for IQ-EQ, a fund services provider backed by Astorg. The Luxembourg-based firm could be valued at around €5bn ($5.9bn) in what is shaping up to be one of the hottest auctions in Europe this year.

The sale of IQ-EQ reflects ongoing consolidation trends in the fund administration sector, with interest driven by growing demand for back-office outsourcing and regulatory services. A successful transaction would mark a significant exit for Astorg and could reposition the company under new ownership.

BP to sell Dutch fuel-retail sites and EV charging hubs to Catom. (Bloomberg)

BP has reached an agreement to divest 300 fuel-retail locations and 15 electric-vehicle charging hubs in the Netherlands to local energy firm Catom BV. The deal, disclosed on July 9, is part of BP’s broader strategy to streamline its European operations and refocus its investments in select energy markets.

While the financial terms of the transaction were not revealed, the sale represents a significant reshuffling of BP’s downstream presence in the Dutch market. Catom is expected to integrate the assets into its expanding energy retail footprint, including both conventional fuels and EV infrastructure.

Uniper sells stake in Latvijas Gaze under bailout conditions. (Reuters)

German utility Uniper has agreed to sell its 18.26% stake in AS Latvijas Gaze to Energy Investments SIA, in line with commitments made during its 2022 government bailout. The divestiture fulfills one of the European Commission’s conditions for approving the rescue, which aimed to stabilize the company after the regional energy crisis.

The asset sale is part of a broader restructuring that also includes exits from holdings in Russian operations, such as Unipro. These moves are intended to reduce Uniper’s geopolitical risk exposure and meet EU regulatory obligations.

Coller Capital raises $6.8bn for latest credit secondary vehicle. (StreetDealAsia)

Coller Capital has secured $6.8bn for its latest credit secondary fund, Coller Credit Opportunities II, significantly surpassing its first credit fund of $1.4bn raised in 2022. The new vehicle is among the largest dedicated credit secondaries funds in the market, underlining investor demand in this niche of private credit.

The firm’s credit platform spans various structures, including commingled funds, co-investments, separately managed accounts, and perpetual funds focused on credit. Coller’s latest raise strengthens its position as a key player in the private market secondaries space.

APAC

Starbucks China stake draws bids valuing unit up to $10bn. (CNBC)

Starbucks’ China operations have reportedly received offers from major private equity firms at valuations reaching as high as $10bn. Bidders include Asia-based Centurium Capital and Hillhouse Capital, as well as US investment groups Carlyle and KKR. The deal would represent a significant move to unlock value in the coffee chain’s second-largest market.

While no transaction has been finalized, the interest highlights investors’ confidence in China’s long-term consumption growth and Starbucks' local positioning. Starbucks has not commented on the report.

Stonepeak Eyes $1bn investment in Warburg Pincus-backed Princeton Digital. (PE Insights)

Stonepeak Partners is in advanced discussions to invest over $1bn in Princeton Digital, a data centre operator headquartered in Singapore and backed by Warburg Pincus. The proposed equity investment underscores Stonepeak’s continued strategic expansion into Asia-Pacific’s fast-growing digital infrastructure market.

If finalized, the deal would further solidify Stonepeak’s regional presence, aligning with rising demand for data centre capacity driven by cloud services and digital transformation trends across Asia.

ADIA and OTPP explore sale of SG-based Equis Development. (Bloomberg)

The Abu Dhabi Investment Authority and Ontario Teachers’ Pension Plan Board are exploring a sale of Equis Development, a renewable energy developer headquartered in Singapore. Both entities have engaged a financial advisor to evaluate the transaction, which could value Equis at over $2bn.

The deal remains in preliminary stages, with no final decision made. If successful, it would mark a major exit in Asia’s renewables sector and reflect continued institutional interest in monetizing clean energy investments.

Asian Paints sells entire stake in Akzo Nobel India. (Reuters)

Asian Paints has divested its full 4.42% stake in Akzo Nobel India for INR7.34bn ($85.69m) through bulk deals. The transaction involved the sale of approximately 2m shares, executed at a price of INR3.6k per share—slightly below Akzo Nobel’s closing price on the previous trading day.

The exit aligns with Asian Paints’ ongoing portfolio adjustments, as it maintains its position as India’s leading paint manufacturer by market share. The move may also reflect a strategic reallocation of capital or a shift in competitive focus.

Apple supplier lens technology to debut in Hong Kong after $607m float. (Bloomberg)

Lens Technology, a Chinese touch-screen component manufacturer serving Apple, is set to begin trading in Hong Kong following a HK$4.8bn ($607m) initial public offering. The Shenzhen-listed firm specializes in producing glass panels for mobile devices and other consumer electronics and chose a dual listing to diversify its capital base and expand internationally.

The float marks another high-profile listing on the Hong Kong Stock Exchange by a mainland company amid increased activity from tech hardware suppliers seeking greater investor exposure and funding access.

ICICI Prudential asset files for $1.2bn India IPO. (Bloomberg)

ICICI Prudential Asset Management, India’s second-largest mutual fund manager by assets, has filed preliminary documents for a proposed initial public offering. The IPO could raise around $1.2bn, potentially marking the second-largest listing in India this year.

The offering is expected to draw significant investor interest given the company’s market position and the broader momentum in India’s capital markets. Final deal size and pricing details will be confirmed following regulatory approval.

Indonesia’s Chandra Daya jumps 35% following $146m IPO. (Bloomberg)

PT Chandra Daya Investasi, the infrastructure arm of PT Chandra Asri Pacific, saw its shares rise by up to 35% on their debut in Jakarta. The stock hit the upper daily trading limit, reflecting strong investor optimism, particularly due to its association with Indonesian billionaire Prajogo Pangestu.

The company raised $146m in the IPO, pricing its shares at IDR190 ($0.012). On its first trading day, shares reached IDR256 ($0.016), while the broader Jakarta Composite Index gained 0.3%.

Institutional investors shore up Travel Food Services' $234m India IPO. (DealStreetAsia)

Travel Food Services, an Indian operator of airport restaurants and lounges, successfully completed its $234m initial public offering, largely backed by institutional investors. The offering, among India’s top ten IPOs this year, faced weak demand from retail buyers amid concerns linked to US trade relations, prompting institutions to step in and ensure its completion.

The IPO forms part of a busy issuance month in India, with companies projected to raise around $2.4bn in total from public listings. The deal underscores investor confidence in the travel and hospitality sector despite macroeconomic caution.

Ambani's Reliance Jio delays India IPO, 2025 listing not on cards. (Reuters)

Reliance Jio Platforms, the telecom and digital services unit of Mukesh Ambani’s Reliance Industries, has postponed its planned initial public offering. Initially expected in 2025, the IPO is now off the table for this year as the company seeks to strengthen its financials and subscriber base to boost valuation.

With analysts estimating Jio’s valuation above $100bn, the firm is prioritizing growth in telecom and digital segments before pursuing a public listing. This delay pushes back one of India’s most anticipated stock market events.

IPO-bound Zepto to raise up to $500m at $7bn valuation. (CNBC)

Zepto, a grocery and food delivery startup, is planning to raise between $450m and $500m in new funding at a $7bn post-money valuation. The valuation marks a 40% increase from the previous year and signals heightened investor interest in India's quick commerce sector.

The company, which recently shifted its headquarters from Singapore to India, is preparing for a public listing. It currently competes with major players like Swiggy and Zomato’s parent company, Eternal.

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