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AMERICAS
Patient Square, a private equity firm, agreed to acquire Premier, a technology-driven health care improvement company, in a $2.6bn deal, according to press release.
Premier is advised by Bank of America, Goldman Sachs, Cravath Swaine & Moore, Wachtell Lipton Rosen & Katz (led by Daniel A. Neff and Meng Lu), Skadden Arps Slate Meagher & Flom (led by Christopher Barlow) and Joele Frank (led by Aura Reinhard and Andrew B. Siegel). Patient Square is advised by Jefferies & Company, Perella Weinberg Partners, Santander, Kirkland & Ellis, Ropes & Gray, Latham & Watkins and Prosek Partners, according to press releases and MergerLinks data.
Stone Point Capital and CPP Investments, investment firms, agreed to invest in OneDigital, an insurance brokerage, financial services and workforce consulting firm, according to press releases. Financial terms were not disclosed.
OneDigital is advised by Ardea Partners, Barclays, Evercore and Kirkland & Ellis. Stone Point Capital is advised by Paul Weiss Rifkind Wharton & Garrison (led by Eric J. Wedel), JP Morgan, RBC Capital Markets, Simpson Thacher & Bartlett and Prosek Partners (led by Madison Hanlon). CPP Investments is advised by Weil Gotshal and Manges (led by Timothy Burns), according to press releases and MergerLinks data.
KKR, a global investment firm, and CPP Investments, a global investment management organization, agreed to acquire a 45% stake in Sempra Infrastructure Partners, a North American energy infrastructure company focused on LNG, energy networks, clean power and low-carbon solutions, from Sempra Energy, an energy network infrastructure company, for $10bn, according to press releases.
Sempra Infrastructure Partners is advised by Goldman Sachs, Baker Botts and Sullivan & Cromwell. KKR is advised by Citigroup and Simpson Thacher & Bartlett. CPP Investments is advised by Kirkland & Ellis (led by Kevin T. Crews, Allan Kirk and Jack Chadderdon). Sempra Energy is advised by Bank of America and Sullivan & Cromwell (led by Inosi M. Nyatta and Mimi Wu), according to press releases.
Thoma Bravo, a software investment firm, agreed to acquire PROS, a provider of AI-powered SaaS pricing and selling solutions, for $1.4bn, according to press releases.
Mirion Technologies, a global provider of mission-critical radiation detection and measurement solutions, agreed to acquire Paragon Energy Solutions, a nuclear energy facilities provider, from Windjammer Capital, a national private equity investment firm, for $585m, according to press releases.
Paragon Energy Solutions is advised by Moelis & Co, Robert W Baird and Kirkland & Ellis. Mirion is advised by Goldman Sachs and Davis Polk & Wardwell, according to press releases.
Onex Partners, an investment management firm, agreed to acquire Integrated Specialty Coverages, a tech-enabled insurance platform dedicated to designing, underwriting, and distributing insurance solutions, from KKR, a global investment firm, according to press releases. Financial terms were not disclosed.
Debt financing is provided by Apollo Global Management. Apollo is advised by Latham & Watkins (led by Jesse Sheff). KKR is advised by Morgan Stanley and Kirkland & Ellis, according to Mergerlinks data and press releases.
Regent, a private equity firm, agreed to acquire the Avon International business in Europe, Africa and Asia from Natura, a beauty and personal care company, according to press releases. Financial terms were not disclosed.
Natura is advised by Rothschild & Co and Davis Polk & Wardwell (led by Michael Senders), according to Mergerlinks data and press releases.
Insight Partners, a software investor, Accel, a global venture capital firm, and Halo Fund, an investment platform, led a $400m investment in Filevine, a legal work platform, with participation from Meritech, Stepstone, Run Ventures, and Album Ventures, according to press releases.
Filevine was advised by Hoffman Agency, according to press releases.
Wellington Management, an asset manager, and General Catalyst, a venture capital firm, agreed to invest $400m in Capital Rx, an enterprise health technology company and benefit administrator, with participation from Generation Investment Management, Goldman Sachs Alternatives, 9Yards Capital, B Capital, Edison Partners, Prime Health Investments, and Transformation Capital, according to press releases.
Capital Rx is advised by 120/80 (led by Alex Jenkins), according to press releases.
Cohere Capital, a private equity firm, completed the investment in Leverege, a provider of AI-native software solutions, according to press releases. Financial terms were not disclosed.
Leverege was advised by KPMG, according to press releases.
US Innovative Technology, an investment firm, led a $250m round in Modular, a software company, with participation from DFJ Growth, GV (Google Ventures), General Catalyst and Greylock Ventures.
Intel seeks investment from Apple as part of comeback bid. ( Bloomberg)
Intel has approached Apple about a potential investment to support the chipmaker, which is partially owned by the US government. The companies have also discussed ways to collaborate, though talks are in early stages and may not result in an agreement. Intel shares rose 6.4% to $31.22, while Apple closed slightly lower at $252.31.
The move follows a $5bn investment from Nvidia last week for PC and data center chips, and a $2bn investment from SoftBank in August. Intel is also exploring other potential investments and partnerships.
JP Morgan-led consortium is exploring financing options for an Advent-backed merger. (Bloomberg)
A group of Wall Street banks led by JP Morgan is working on a debt financing package to support Advent International’s acquisition of software companies Xplor Technologies and Clubessential.
The approximately $1.3bn deal, expected as an incremental term loan, would refinance Clubessential’s existing debt. Banks are gauging investor demand, with a potential launch as early as next month.
Medline weighs $5bn US IPO as soon as October. ( Bloomberg)
Medline, a medical supplies maker backed by Blackstone, Carlyle, and Hellman & Friedman, is considering a public IPO filing in late October. The offering could raise about $5bn, potentially becoming the largest US listing of the year.
The Northfield, Illinois-based firm had previously filed confidentially, and an October submission could allow it to go public as soon as November.
EMEA
TeamSystem, a technology & AI company for the development of business management solutions, to acquire Sellsy, a company providing all-in-one CRM and financial management system software solutions, from PSG, a growth equity firm, according to press releases. Financial terms were not disclosed.
Sellsy is advised by Alvarez & Marsal, Houlihan Lokey, Orrick Herrington & Sutcliffe, Weil Gotshal and Manges and Madame de la Com'. TeamSystem is advised by Ernst & Young, Mediobanca, Herbert Smith Freehills Kramer and Barabino & Partners (led by Georgia Colkin). PSG is advised by Prosek Partners, according to press releases.
Sagard, a global alternative asset manager, agreed to merge with Unigestion, a European middle-market private equity firm, according to press releases. Financial terms were not disclosed.
Unigestion is advised by UBS and Lenz & Staehelin. Sagard is advised by Deloitte, PricewaterhouseCoopers, Blake Cassels & Graydon and McDermott Will & Schulte, according to press releases.
EQT Partners, a global investment organization, completed the acquisition of a majority stake in Waga Energy, an independent biomethane producer, for €332m ($392m), according to press releases.
Waga Energy was advised by Lazard and Jones Day (led by David Swinburne). EQT Partners was advised by Rothschild & Co, Clifford Chance and Havas, according to Mergerlinks data and press releases.
ProA Capital, a private equity firm, completed the investment in Somos Hijolusa, a fruit and vegetable production company, according to press releases. Financial terms were not disclosed.
ProA Capital was advised by AZ Capital and Garrigues, according to Mergerlinks data and press releases.
Battery Ventures, a global, technology-focused investment firm, led a $165m round in Signal AI, a global risk and reputation intelligence platform, according to press releases.
Signal AI is advised by Evercore and Wilson Sonsini Goodrich & Rosati, according to press releases and MergerLinks data.
LEA Partners, a venture capital and private equity firm, agreed to invest in SEPPmail, a provider of email security, according to press releases. Financial terms were not disclosed.
Gresham House, a private equity firm, agreed to acquire SUSI Partners, a specialist investment manager, according to press releases. Financial terms were not disclosed.
Gresham House is advised by Edelman Smithfield, according to press releases.
Enel and CVC Capital-backed Gridspertise, a technology company, completed the acquisition of Energyworx, an energy data management company, from EDP Ventures, an investment company, according to press releases. Financial terms were not disclosed.
PAI prepares $1.2bn sale of Ethypharm. ( Bloomberg)
PAI Partners is preparing a sale of French drugmaker Ethypharm, a specialist in pain and addiction treatment.
The process, run with Jefferies, could value the company at more than €1bn ($1.2bn). Several private equity firms and industry peers have expressed interest.
Axcel considers the sale of IT consultancy Emagine in a deal valued at around €700m. ( Bloomberg)
Danish private equity firm Axcel is weighing a sale of IT consultancy Emagine, in a deal that could value the company at around €700m ($826m).
Axcel has approached investment banks for proposals, with a potential sale process possibly starting next year.
Deutsche Bank heats up private markets race for Europe's rich. ( Bloomberg)
Deutsche Bank is increasing efforts to give wealthy European clients access to private markets, as financial firms compete globally to tap the region’s affluent investor base.
Germany’s largest lender plans to launch a private markets fund in partnership with its asset-management unit, DWS Group, and Swiss buyout firm Partners Group, which will be available to high-net-worth clients starting in the third quarter.
Shawbrook begins early investor talks ahead of possible IPO. ( Sky News)
Shawbrook Group has started preliminary discussions with potential investors about an initial public offering of the business-focused lender, even as speculation grows over possible banking tax hikes in the November Budget. Shawbrook and its advisers have been holding pilot-fishing meetings this month while its owners assess the best timing for a flotation.
Private equity owners BC Partners and Pollen Street Capital had originally aimed for a London listing in the first half of this year but delayed the plan. They are now considering launching the IPO before the end of 2025.
APAC
Stonepeak targets $4bn for second Asia infrastructure fund. ( Reuters)
US-based investor Stonepeak is aiming to raise up to $4bn for its second Asia-focused infrastructure fund, with demand driven by investors seeking long-term returns in the region.
The firm expects to secure around $1bn, or a quarter of its target, by the end of this month, four months after the fund’s launch in May.
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