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AMERICAS
Flexpoint Ford, Shamrock and GoldState complete the acquisition of Podium Entertainment from Presidio Investors.
Flexpoint Ford, Shamrock and GoldState, three investment firms, completed the acquisition of Podium Entertainment, an independent publisher, from Presidio Investors, a private equity firm, according to press releases. Financial terms were not disclosed.
Podium was advised by FTI Consulting, LionTree Advisors, Ballard Spahr, Deloitte and MNP Corporate Finance. Flexpoint Ford was advised by Lazard, Latham & Watkins and Joele Frank (led by Jonathan Keehner). Shamrock was advised by Paul Weiss Rifkind Wharton & Garrison (led by Bianca Levin-Soler) and Prosek Partners (led by Anna Oeser). Buyers were advised by KPMG, according to MergerLinks data and press releases.
An investor consortium led by Thomas Priore to acquire the remaining stake in Priority Technology Holdings in a $1.6bn deal.
An investor consortium led by Thomas Priore agreed to acquire the remaining stake in Priority Technology Holdings, a payments and banking solutions provider, in a $1.6bn deal, according to press releases.
Priority Technology is advised by Barclays, Nixon Peabody, Paul Weiss Rifkind Wharton & Garrison (led by Jeffrey D. Marell) and Reevemark (led by Paul Caminiti and Delia Cannan). Investor consortium is advised by TD Securities, McDermott Will & Schulte and ICR Inc. Searchlight Capital is advised by Latham & Watkins, according to MergerLinks data and press releases.
Cornell Capital, a private investment firm, completed the acquisition of Hancock Claims Consultants, a provider of outsourced claims field services to residential property and casualty insurance carrier, according to press releases. Financial terms were not disclosed.
Hancock Claims was advised by Piper Sandler, Robert W Baird and Kirkland & Ellis. Cornell Capital was advised by William Blair & Co, Davis Polk & Wardwell and Joele Frank (led by Kate Thompson), according to MergerLinks data and press releases.
TJC, a private equity firm, completed the acquisition of Luna Innovations, an advanced optical technology company, for $230m.
TJC LP was advised by Guggenheim Partners, Kirkland & Ellis and Prosek Partners. Luna Innovations was advised by Evercore and King & Spalding. Evercore was advised by Sullivan & Cromwell (led by Stephen M. Kotran), according to press releases and MergerLinks data.
Liberty Mutual Investments led the investment in Mission Critical Group.
Liberty Mutual Investments, the investment firm for Liberty Mutual Group, led the investment in Mission Critical Group, a provider of comprehensive electrical infrastructure solutions for mission critical facilities, with participation from Invesco Senior Secured Management, Aventail Capital Group and Brigade Capital Management, according to press releases.
Mission Critical Group was advised by Jefferies and Kirkland & Ellis. Jefferies was advised by Davis Polk & Wardwell. Liberty Mutual Investments was advised by BDO and Paul Hastings, according to press releases.
Lone View Capital, a private equity firm, completed the investment in HappyCo, a property operations platform for multifamily housing, according to press releases. Financial terms were not disclosed.
HappyCo was advised by Houlihan Lokey and DLA Piper. Lone View Capital was advised by Ropes & Gray and Edelman (led by Jennifer Stroud), according to MergerLinks data and press releases.
Apollo-backed Forge, a B2B events and media company, agreed to acquire Becker’s Healthcare, a media and events platform serving hospital, health system and healthcare executives, from Pamlico Capital, a private equity firm, according to press releases. Financial terms were not disclosed.
Forge is advised by Jegi Leonis and Akin Gump Strauss Hauer & Feld. Becker’s Healthcare is advised by BrightTower and Holland & Knight, according to press releases.
LLR Partners, a lower middle-market private equity firm, completed the investment in EnergyCAP, a developer of utility bill and energy management software. Existing investor Resurgens Technology Partners will retain its investment in EnergyCAP and continue to support the company alongside LLR Partners, according to press releases. Financial terms were not disclosed.
LLR Partners was advised by Lincoln International and Goodwin. EnergyCAP was advised by William Blair & Co and King & Spalding, according to press releases.
Blackstone-backed Copeland, a climate solutions company, completed the acquisition of Dickson, a provider of environmental monitoring and compliance technology solutions, from May River Capital, a private equity firm, according to press releases. Financial terms were not disclosed.
Dickson and May River Capital were advised by Houlihan Lokey, William Blair & Co and Paul Hastings, according to press releases.
Talos Energy, an independent oil and gas company, and Ridgewood Energy, a private equity firm, completed the acquisition of the interests in the Na Kika and Coulomb assets of Shell, a global energy and petrochemical company, for $1.7bn.
Talos Energy was advised by Greenhill & Co and Clifford Chance (led by Joclynn Marsh and David Sweeney), according to press releases and MergersLinks data.
Bain Capital, a private investment firm, agreed to acquire SOLitude Lake Management, a US-based lake and pond management company, and Vertex Aquatic Solutions, a US-based manufacturer and distributor of aquatic water-quality products, from Rentokil Initial, a UK-based publicly listed pest control and hygiene services company, for $230m, according to press releases.
Bain Capital is advised by Ropes & Gray (led by Adam Leamon). Rentokil Initial is advised by Goldman Sachs, according to press releases and MergerLinks data.
Norwest Equity Partners, a private equity firm, completed the acquisition of E-Z UP, an American manufacturing company that invented and produces portable pop-up canopy tents and instant shelters, from Beach Point Capital, a credit-focused alternative asset manager and hedge fund, according to press releases. Financial terms were not disclosed
Norwest Equity Partners was advised by Winston Taylor. E-Z UP was advised by Kroll, according to press releases.
Insight Partners, a global venture capital firm, led a $100m Series C round in Numeral, an AI-powered sales tax compliance platform, with participation from Salesforce Ventures, Geodesic, Benchmark, Mayfield, FCVC, Y Combinator and Uncork, according to press releases.
Catalio Capital Management, an investment firm focused on healthcare and life sciences, led a $311m Series E round in Enveda, an AI-driven drug discovery and development company, with participation from Durable Capital Partners, ICONIQ, Lightspeed, Surveyor Capital, T. Rowe Price, Digitalis Ventures, Alderline Group, Baillie Gifford, Premji Invest, FPV Ventures, True Ventures, Kinnevik, Dimension, Lifeforce Capital and Lux Capital, according to press releases.
Enveda was advised by KKH Advisors (led by Kimberly Ha), according to press releases.
Smith Point Capital, a venture capital and growth equity firm, led a $200m Series C round in Hubble Network, a satellite-powered Bluetooth network, with participation from Seraphim, Carthona Capital, Earthshot Ventures, Y Combinator, and RPM Ventures, according to press releases.
Hubble Network is advised by VSC Public Relations, according to press releases.
Vitruvian Partners, a European private equity firm, led a $200m Series C in Angle Health, an AI-native healthcare benefits platform, with participation from Town Hall Ventures, Blumberg Capital, Portage Ventures, PruVen Capital and Y Combinator, according to press releases.
Angle Health was advised by Command, according to press releases.
Verdane, a growth investment firm, agreed to invest in Xpansiv, a global market infrastructure provider for environmental commodities, specializing in the trading and management of carbon offsets, renewable energy certificates, and differentiated fuels, according to press releases. Financial terms were not disclosed
Vanguard Renewables, a company specializing in organics recycling and renewable energy production, agreed to acquire the North American operations of Generate Upcycle, a circular waste management and organics recycling company, according to press releases. Financial terms were not disclosed.
Atreides Management, Mubadala Capital and Valor Equity Partners, investment firms, led a $3.9bn Series F round in Crusoe, a vertically-integrated AI infrastructure provider, with participation from Founders Fund, GIC, NVIDIA, Qatar Investment Authority (QIA), Radical Ventures, TPG, 1789 Capital, Activate Capital, Altimeter, ARK Invest, Avenir, Baillie Gifford, BAM Elevate, BDT & MSD Partners, Clal Insurance and Finance, Darsana, DPR Construction, Era Funds, Fidelity Management & Research Company, Fundrise, Galvanize, M37, OIA, Polychain Capital, Ribbit Capital, Robinhood Ventures Fund I (RVI), SemiAnalysis, Salesforce Ventures, Squarepoint Capital, StepStone Group, T. Rowe Price, Tiger Global, Upper90, Van Eck, XN and Zigg Capital, according to press releases.
Insight and S32, two venture capital firms, led a $350m Series E round in Snorkel, the frontier AI data lab, building the data and environments behind advanced AI systems, with participation from Third Point, March, Blumberg, Allegis, Standard VC, Frontline, Addition, Lightspeed, Greylock, GV, P7, Wells Fargo, and Walden Catalyst Ventures, according to press releases.
Apollo weighs sale options for Energos. ( Reuters)
Apollo Global Management is evaluating strategic options for Energos Infrastructure in a process that could value the floating LNG provider at over $3bn.
The firm has held discussions in recent weeks with potential bidders and has indicated it is open to a full or partial sale. XRG — the international investment arm of Abu Dhabi National Oil Company — is among those exploring a bid, with interest in acquiring up to 50% of Energos.
Paramount's $49bn debt sale to kick off after lawsuits end. ( Bloomberg)
Bank of America, Citigroup and Apollo Global Management underwrote the buyout debt package and plan to begin selling the financing to investors in the coming weeks.
ECP‑backed ProEnergy is seeking a valuation of up to $50bn in its planned IPO. ( Bloomberg)
ProEnergy, a power‑generation company backed by Energy Capital Partners, is seeking a valuation of up to $50bn in a planned US IPO.
The firm, which builds and tests gas turbines and small dispatchable power facilities, is working with Morgan Stanley and JPMorgan on the offering process.
Smart ring maker Oura, backers seek $2.2bn in US IPO. ( Bloomberg)
Oura and some of its existing shareholders are seeking to raise as much as $2.2bn in a US IPO, with 50m shares being marketed at $40 to $44 each.
The company plans to sell 13.5m new shares, while investors including Forerunner Ventures and Lifeline Ventures will offer 36.5m existing shares. Oura makes smart rings that track health metrics including heart health, activity, and sleep.
RNA drug developer ADARx seeks $1.74bn valuation in US IPO. ( Reuters)
ADARx Pharmaceuticals is seeking to raise up to $372m in a US IPO by offering 21.9m shares at $15 to $17 each, implying a valuation of up to $1.74bn.
The San Diego-based biotech develops RNA-based treatments for rare immune, kidney, cardiovascular and neurological diseases. AbbVie has agreed to invest up to $100m in a concurrent private placement, which would give it about a 4.9% stake after the IPO.
Bessemer Venture Partners closes $5.75bn to back founders from seed through growth. ( Press Release)
Bessemer Venture Partners has raised $5.75bn in new capital, including $1.75bn for seed and early-stage investments and $4bn for growth-stage deals.
The firm said the funds will support investments across the artificial intelligence ecosystem, from computing and infrastructure to foundation models, developer platforms, applications and AI agents.
EMEA
EQT Infrastructure and Blackstone Infrastructure complete the acquisition of Urbaser from Platinum Equity for €5.6bn.
EQT Infrastructure, the infrastructure investment arm of EQT, and Blackstone Infrastructure, the primary infrastructure investment vehicle of Blackstone, completed the acquisition of Urbaser, a global environmental services company specializing in waste collection, treatment, recycling and street cleaning for municipalities and businesses, from Platinum Equity, a private equity firm, for €5.6bn, according to press releases.
Blackstone Infrastructure was advised by JP Morgan, UBS, Kirkland & Ellis, Linklaters, Simpson Thacher & Bartlett, Paul Weiss Rifkind Wharton & Garrison (led by Paul Foote) and Uria Menendez. EQT was advised by Banco Bilbao Vizcaya Argentaria (BBVA), Ernst & Young, Morgan Stanley, Freshfields, Kirkland & Ellis, Linklaters, Simpson Thacher & Bartlett, Grupo Albion and Kekst CNC. Platinum Equity was advised by Citigroup, Santander, Cuatrecasas Goncalves Perei (led by Javier Martí-Fluxá and Mariana Norton Dos Reis) and Latham & Watkins (led by Ignacio Pallares), according to press releases and MergerLinks data.
Aermont Capital, a European asset management group, completed the acquisition of the UK assets, including the Park Holidays business, from Sun Communities, a real estate investment trust, for £768m ($1.03bn), according to press releases.
Aermont Capital was advised by Rothschild & Co (led by Alex Midgen) and Macfarlanes. Sun Communities was advised by Jones Day, Taft Stettinius & Hollister, ICR, Deloitte, Lazard, Wells Fargo Securities, Burness Paull, Cripps, Kroll, JP Morgan, Citigroup, Bank of America, BMO Capital Markets, Ramboll, CIL Management Consultants and Ryan Transactional Risk. Park Holidays was advised by Proskauer Rose (led by Andrew Wingfield, Liam Arthur and Vikki McKay), according to press releases and MergerLinks data.
Amundi completes the acquisition of a 9.9% stake in ICG.
Amundi, a French asset management company, completed the acquisition of a 9.9% stake in ICG, an asset management and private equity firm, according to press releases. Financial terms were not disclosed.
ICG was advised by Deutsche Numis, Fenchurch Advisory Partners (led by Kunal Gandhi) and Latham & Watkins (led by Samuel Newhouse). Amundi was advised by Morgan Stanley, PJT Partners and Cleary Gottlieb Steen & Hamilton, according to MergerLinks data and press releases.
ICG-backed Excellera, a corporate affairs consultancy, completed the acquisition of Alma Strategic Communications, a strategic communications consultancy, according to press releases. Financial terms were not disclosed.
Excellera was advised by Alvarez & Marsal, Fineurop Soditic and A&O Shearman. Alma Strategic Communications was advised by Waypoint Partners and Boodle Hatfield, according to press releases.
Carlyle, an infrastructure equity fund manager, and CVC DIF, an investment firm, agreed to acquire a 90% stake in BauWatch, a provider of advanced security solutions, from Haniel, a German family equity company, according to press releases. Financial terms were not disclosed.
Arlington Capital-backed AVS Bio, a global provider of critical inputs and services, completed the acquisition of Biorbyt, a global supplier of high-quality bio-reagents, according to press releases. Financial terms were not disclosed.
AVS Bio and Arlington Capital were advised by Prosek Partners (led by Ryan FitzGibbon), according to press releases.
Investment companies UC Investments and Baillie Gifford led a $580m Series D round in TEKEVER, an IT, aerospace, defence and security technologies company based in the Lisbon region, with participation from Crescent Cove, Ventura Capital and Iberis Capital, according to press releases.
TEKEVER was advised by JP Morgan, according to MergerLinks data.
Multiples Alternate Asset Management, a private equity firm, led a $150m funding round in Brahma AI, an AI-native entertainment technology company, according to press releases.
Brahma AI is advised by Cantor Fitzgerald, according to press releases.
S32, a venture capital firm investing at the frontiers of technology, led a $140m Series C round in Basecamp Research, a frontier AI company developing AI-designed medicines, with participation from Menlo Ventures' Anthology Fund, Catalio Capital Management, European Tech Collective, Firebrand River Capital, Inception Fund, King Philanthropies, NATO Innovation Fund, NVIDIA, PostScriptum, Redalpine, The Rockefeller Foundation, Singular, Sovereign AI and True Ventures, according to press releases.
ABIO-owned Pinta Energy, a renewable energy platform, completed the acquisition of seven UK facilities of Generate Upcycle, a circular waste management and organics recycling company, according to press releases. Financial terms were not disclosed.
Blackstone said to prepare sale of Clarion Events’ Asian unit. ( Bloomberg)
Blackstone is preparing to sell Clarion Events’ Asia operations as part of its effort to restart the broader divestment of the UK‑based events group.
The firm has tapped Goldman Sachs to advise on the potential sale, the people said, noting that the discussions are private.
UK's Pollen Street says exploring options, in talks about possible sale. ( Reuters)
Pollen Street is exploring strategic options, including a potential take-private transaction, and has begun preliminary discussions with a limited number of potential bidders.
Possible buyers include mid-sized private equity firms and existing shareholder Wafra. Pollen Street manages £8.4bn ($11.2bn) across private equity and private credit strategies.
The billionaire financier secures backing of the US and Gulf power brokers to bid for the international assets of Lukoil. ( FT)
Todd Boehly is leading a consortium seeking to acquire Lukoil’s international assets, challenging Carlyle’s previously agreed transaction for the business, which was valued at about $20bn in March.
The consortium includes International Holding Company, Allied Investment Partners, Qatar’s Al-Khayyat family and the US International Development Finance Corporation. The proposal is advanced, while Carlyle’s deal remains awaiting final US approval.
Ares is said to be considering a minority investment in Danish infrastructure fund CIP. (Bloomberg)
Ares Management is exploring a minority investment in Copenhagen Infrastructure Partners, marking another potential move by a major private‑markets firm into the fast‑growing energy‑transition sector.
The Los Angeles‑based manager, one of the world’s largest private‑credit platforms, has been evaluating a deal in recent months.
Europe tech fund said to be in talks to back AI startup ElevenLabs. ( Bloomberg)
Europe’s new technology fund is in discussions to back UK‑based AI startup ElevenLabs.
The €5bn ($4.3bn) Scaleup Europe Fund — managed by Swedish private‑equity firm EQT — has already begun deploying capital into privately held European tech companies since its launch earlier this year.
Triton Partners to mull sale or IPO of Trench Group. ( Bloomberg)
Triton Partners is exploring a potential sale or initial public offering of Trench Group, a Berlin-based maker of power transmission components.
The European private equity firm has hired Morgan Stanley to advise on a dual-track process as demand grows for German companies benefiting from the artificial intelligence infrastructure buildout. Talks are ongoing and may not result in a transaction.
APAC
Samara Capital, a mid-market private equity firm, agreed to acquire a stake in Associated Road Carriers, a B2B road transportation company, and Calyx Container Terminals, a licensed container freight station, according to press releases. Financial terms were not disclosed.
ARC is advised by Ernst & Young, JSA Advocates & Solicitors (led by Vikram Raghani) and Solicis Lex. Samara Capital is advised by PricewaterhouseCoopers and Trilegal, according to MergerLinks data and press releases.
Advent International to acquire a 24.9% stake in Yatharth Hospitals for $329m.
Advent International, a private equity investor, agreed to acquire a 24.9% stake in Yatharth Hospitals, a healthcare provider, for $329m, according to press releases.
Advent is advised by Khaitan & Co (led by Aashutosh Sampat), according to MergerLinks data.
ESR, an Asia-Pacific real asset owner and manager, agreed to acquire Aquila Clean Energy APAC, a clean energy platform that develops, owns and operates solar, battery storage and wind assets across the region, according to press releases. Financial terms were not disclosed.
New World, ADIA in talks for HKD3bn hotel sale to UOL. ( Bloomberg)
New World Development is in talks to sell its 50% stake in the Hyatt Regency hotel in Kowloon, Hong Kong, to Singapore-based UOL Group, in a transaction that could value the property at around HKD3bn ($382m).
Abu Dhabi Investment Authority, which owns the remaining 50% of the hotel, is also in discussions to sell its stake to UOL, potentially giving the Singapore property group full ownership of the asset.
Perpetual has rejected EQT’s further revised non-binding proposal to acquire 100% of the company for AUD22.50 ($15.73) per share, saying the offer undervalues the business and carries an unacceptable level of execution risk. The proposal was expressed as EQT’s best and final offer in the absence of a competing bid.
BlackRock and IFM close in on $25bn Asia data center deal. ( Bloomberg)
A consortium backed by BlackRock and IFM Investors has entered exclusive talks to acquire Stack Infrastructure’s Asia-Pacific data center portfolio.
The group, which includes BlackRock-backed Artificial Intelligence Infrastructure Partnership and IFM, is preparing to conduct due diligence on the assets. The portfolio could be valued at about $20bn to $25bn, with talks ongoing and terms subject to change.
Warburg Pincus and CD&R near deal to buy Canaccord’s UK wealth division. ( FT)
Warburg Pincus and Clayton, Dubilier & Rice are in advanced talks to jointly acquire Canaccord Genuity’s UK wealth management business after emerging as the leading bidders in a sale process.
Canaccord Wealth could be valued at more than £1bn ($1.34bn) in a potential transaction. BlackRock-owned HPS, which has held a minority stake in the business since 2021, is also expected to sell its holding as part of the deal.
PE firms said to be weighing fresh bids for China Evergrande unit. ( Bloomberg)
Private equity firms that previously examined Evergrande Property Services are weighing renewed bids for the Hong Kong‑listed real estate management company.
PAG, Warburg Pincus and Trustar Capital are among those preparing offers. Their return follows the collapse of exclusive negotiations between China Evergrande’s liquidators and Guangdong Provincial Tourism Holdings.
Kobayashi in $3.2bn buyout talks after red-yeast case. ( Bloomberg)
Kobayashi Pharmaceutical is considering a potential buyout offer of more than JPY500bn ($3.2bn).
Private equity firms CVC Capital Partners and Nippon Sangyo Suishin Kiko are weighing a bid to take the Japanese health products maker private, with the founding family also considering participating in the transaction. Talks are ongoing, and terms could still change.
LIC said to lead bidding in NSE’s $2.4bn India IPO. ( Bloomberg)
Life Insurance Corporation of India emerged as the largest bidder in the National Stock Exchange of India’s initial public offering, highlighting strong demand from domestic institutional investors despite subdued retail participation.
The state-owned insurer submitted bids worth around INR45bn ($470m), while ICICI Prudential Asset Management and Quant Mutual Fund bid about INR20bn ($209m) each. Norges Bank Investment Management and Mirae Asset Mutual Fund sought roughly INR10bn ($104m) each.
AI startup Manus seeks to raise $500m and is weighing a Hong Kong IPO. ( WSJ)
Artificial intelligence startup Manus is raising new capital after cutting ties with Meta and is exploring additional funding options, including a potential IPO.
The company is in talks with investors including IDG Capital and Boyu Capital to secure about $500m in a round that would value it at roughly $4bn.
Carlyle to prepare for $400m IPO of India auto unit. ( Bloomberg)
Carlyle has begun preparations for a potential IPO of its India-based auto-parts platform Highway Roop Precision Technologies, with the offering potentially raising as much as $400m.
The private equity firm is working with Kotak Mahindra Capital, JM Financial, Goldman Sachs and Nomura on the transaction, which is planned for the first half of 2027 and is expected to include both primary and secondary shares.
Softbank-backed Snapdeal parent AceVector targets $182m valuation in trimmed India IPO. ( Deal Street Asia)
SoftBank-backed AceVector, the parent company of Indian e-commerce platform Snapdeal, is seeking a valuation of up to INR17.41bn ($181.7m) in a downsized initial public offering that will open for subscription on September 25.
The company aims to raise INR4.2bn ($43.8m), including INR2.87bn ($29.9m) through new shares alongside an offer for sale by existing investors. SoftBank-owned Starfish and Nexus Venture Partners are among the shareholders selling stakes, with trading expected to begin on October 5.
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