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AMERICAS

Multiples to acquire a majority stake in QBurst for $200m.

Multiples, a private equity firm, agreed to acquire a majority stake in QBurst, a global software development and consulting company, for $200m, according to press releases.

QBurst is advised by BDA Partners, Shardul Amarchand Mangaldas & Co and Ernst & Young. Multiples is advised by Anagram Partners, Ernst & Young and Eminence Strategy Consulting, according to press releases.

Becton, Dickinson & Company to demerge its Biosciences and Diagnostic Solutions business.

Becton, Dickinson & Company, a global medical technology company, is set to demerge its Biosciences and Diagnostic Solutions business, according to press releases. Financial terms were not disclosed.

Becton is advised by Citigroup, Evercore, PricewaterhouseCoopers, Skadden Arps Slate Meagher & Flom, Wachtell Lipton Rosen & Katz (led by Jenna E. Levine and David Lam) and FGS Global, according to press releases and MergerLinks data.

TPG to acquire Altus Power for $2.2bn.

TPG Rise Climate, a dedicated climate investing platform of TPG, agreed to acquire Altus Power, a commercial-scale solar electric power provider, for $2.2bn, according to press releases.

Altus Power is advised by Moelis & Co and Latham & Watkins. TPG Rise Climate is advised by PJT Partners, Kirkland & Ellis and Paul Weiss Rifkind Wharton & Garrison (led by Annie Herdman and Marta P. Kelly), according to press releases and MergerLinks data.

MG Properties completes the acquisition of Park 12 Apartments from Greystar for $309m.

MG Properties, a private real estate investor, owner, and operator, completed the acquisition of Park 12 Apartments, a 35-story high-rise apartment community located in San Diego, from Greystar, a real estate services provider, for $309m, according to press releases.

Greystar was advised by Eastdil Secured (led by Joseph Smolen and Geoff Boler). MG Properties was advised by Eastdil Secured (led by Greg Stampley). Debt financing was provided by Fannie Mae, according to press releases.

Warner Music Group completes the acquisition of a majority stake in Tempo Music from Providence.

Warner Music Group, an American multinational entertainment and record label conglomerate, completed the acquisition of a majority stake in Tempo Music, an investment platform for premium music rights, from Providence, a global private equity investment firm, according to press releases. Financial terms were not disclosed.

Providence was advised Moelis & Co, Weil Gotshal and Manges (led by Ramona Nee and Jakub Wronski) and FGS Global (led by Kelsey Markovich), according to press releases and MergerLinks data.

Honeywell to demerge its Automation and Aerospace Technologies business.

Honeywell, an integrated operating company serving a broad range of industries and geographies around the world, is set to demerge its Automation and Aerospace Technologies business, according to press releases. Financial terms were not disclosed.

Honeywell is advised by Centerview Partners, Goldman Sachs and Skadden Arps Slate Meagher & Flom (led by Allison Schneirov), according to press releases and MergerLinks data.

Amazon led a $700m Series C-1 round in X-Energy.

Amazon, an American multinational technology company, led a $700m Series C-1 round in X-Energy, a nuclear reactor and fuel technology solutions provider, with participation from Segra Capital Management, Jane Street, Ares Management, Emerson Collective, NGP and the University of Michigan, according to press releases.

X-Energy was advised by Moelis & Co and Latham & Watkins, according to press releases.

Standex completes the acquisition of McStarlite for $57m.

Standex, an electronics company, completed the acquisition of McStarlite, a provider of complex sheet metal aerospace components, for $57m, according to press releases.

McStarlite was advised by Janes Capital Partners and Procopio, according to press releases.

EDF and STOA to acquire Geração Céu Azul from Neoenergia for $247m.

EDF, an electric utility company, and STOA, an investment fund, agreed to acquire Geração Céu Azul, an energy company that holds a 70% stake in the Consórcio Empreendedor Baixo Iguaçu, from Neoenergia, an electric power distribution company, for $247m, according to press releases.

Neoenergia is advised by UBS, according to MergerLinks data.

Cleanwater1 completes the acquisition of Integrity Municipal Systems.

Cleanwater1, a provider of water quality solutions, completed the acquisition of Integrity Municipal Systems, a technology and solutions provider of branded, engineered lime systems, odor control and chemical feed system process solutions, according to press releases. Financial terms were not disclosed.

Cleanwater1 was advised by Jones Day (led by David Schindelheim), according to MergerLinks data.

Ecopetrol completes the acquisition of the remaining 45% stake in CPO-09 Block from Repsol for $452m.

Ecopetrol, an integrated oil and gas company, completed the acquisition of the remaining 45% stake in CPO-09 Block from Repsol, crude oil and natural gas explorer and producer, for $452m, according to press releases.

A consortium of investors led a $140m Series B round in Tidal Vision.

A consortium of investors, including Cambridge SPG, Eni Next, Milliken & Company, KIRKBI, Convent Capital, SWEN Capital Partners, MBX Capital, Oman Investment Authority, led a $140m Series B round in Tidal Vision, a biotechnology company transforming critical industries with chitosan-based chemistries, according to press releases.

Cargill to acquire the remaining 50% stake in SJC Bioenergia.

Cargill, an American multinational food corporation, agreed to acquire the remaining 50% stake in SJC Bioenergia, a Brazilian sugar production and renewable energy firm, according to Bloomberg. Financial terms were not disclosed.

SoftBank nears deal to acquire chip designer Ampere. (Bloomberg)

SoftBank Group is in advanced negotiations to acquire the Oracle-backed chip designer.

The Japanese company is discussing a deal that could value Ampere Computing at approximately $6.5bn, including debt. A transaction can be announced in the coming weeks.

Historically, SoftBank Group has worked with Morrison & Foerster, Latham & Watkins, White & Case and JP Morgan, according to MergerLinks data.

Ategrity Specialty Insurance taps JP Morgan, Barclays for US IPO. (Bloomberg)

Ategrity Specialty Insurance, a provider of excess and surplus insurance to small and midsize US companies, is exploring an initial public offering that could occur as soon as this year.

The New York-based company is working with JP Morgan Chase and Barclays on its potential listing.

o15 Capital Partners raises nearly $400m to invest in emerging American businesses. (Press Release)

o15 Capital Partners, a mission-driven alternative investment firm focused on providing growth capital to undercapitalized companies and communities, has announced the successful closing of its inaugural fund, o15 Emerging America Credit Opportunities Fund, at approximately $370m.

Including capital raised for related co-investment vehicles, the total funds secured amount to nearly $400m. The fund received strong support from a diverse group of institutional investors, including public and corporate pensions, foundations, banks, and family offices.

EMEA

Montagu to acquire Multifonds from Temenos for $400m.

Montagu, a private equity firm, agreed to acquire Multifonds, a fund administration software business, from Temenos, a banking software company, for $400m, according to press releases.

Temenos is advised by Rothschild & Co, Homburger (led by Dieter Gericke), FGS Global (led by Conor McClafferty) and IRF Communications (led by Martin Meier-Pfister). Montagu is advised by Charles Barker and Greenbrook (led by James Madsen), according to press releases and MergerLinks data.

Fugro completes the acquisition of EOMAP.

Fugro, a surveying services company, completed the acquisition of EOMAP, a company specializing in mapping and monitoring of marine and freshwater environments through satellite Earth Observation, according to press releases. Financial terms were not disclosed.

Fugro was advised by De Brauw Blackstone Westbroek and Flick Gocke Schaumburg, according to MergerLinks data.

UPM Raflatac completes the acquisition of Metamark from Primary Capital for $182m.

UPM Raflatac, a supplier of self-adhesive paper and film products, completed the acquisition of Metamark, a manufacturer and distributor of graphics solutions, from Primary Capital, a private equity firm, for $182m, according to press releases.

Primary Capital was advised by Rothschild & Co, according to MergerLinks data.

M&G to acquire a majority stake in P Capital Partners.

M&G, an investment management services company, agreed to acquire a majority stake in P Capital Partners, a private credit solutions provider, according to press releases. Financial terms were not disclosed.

Billionaire Kretinsky seeks to take Metro private again. (Press Release)

Billionaire Daniel Kretinsky wants to take German wholesaler Metro private again, more than five years after an initial attempt failed.

Kretinsky’s EP Global Commerce, which holds nearly half of Metro’s voting rights, agreed to acquire all shares for €5.33 ($5.55) each ahead of a delisting. That values Metro at almost €2bn ($2.1bn) and represents a premium of 37% to February 5 closing price.

BP to sell German refining, chemicals assets on high costs. (Press Release)

BP is planning to sell its oil refining and chemical assets in Germany as it scales back operations in the country due to high costs.

The sale process, which includes a refinery in Gelsenkirchen and the DHC Solvent Chemie chemical plant in Mülheim an der Ruhr, will begin immediately, with the goal of reaching a sales agreement by the end of the year. The timing of the handover will depend on regulatory approvals, while operations will continue as usual during the transition.

Logistics firm Ferrari Group’s IPO seeks up to €205m. (Press Release)

Luxury logistics firm Ferrari Group’s founding Deiana family is seeking to raise approximately €205m ($212m) through an initial public offering in Amsterdam, marking one of the exchange’s first listings of the year.

The jewelry courier’s controlling family is offering around 22.8m shares, representing a 25% stake, at a price range of €8 ($8.3) to €9 ($9.4) per share. This would value the company at up to €822m ($854m).

Portugal's central bank chief positive on Novo Banco IPO. (Press Release)

Bank of Portugal Governor Mario Centeno said on February 5 that Novo Banco’s planned initial public offering would be positive for the Portuguese banking sector but emphasized the need for a cautious approach to further acquisitions or consolidation.

Novo Banco was established in 2014 following the government bailout of the collapsed Banco Espirito Santo. US fund Lone Star holds a 75% stake, while Portugal’s resolution fund and the state own the remaining shares.

Doosan unit surges in Prague debut after oversubscribed IPO. (Bloomberg)

Doosan Skoda Power surged 16% on its first trading day in Prague following the completion of its initial public offering. Investors acquired a 33% stake in the Czech subsidiary of South Korea’s Doosan Enerbility at CZK240 ($9.92) per share.

The transaction valued the 166-year-old steam turbine manufacturer at CZK7.66bn ($316m), pricing the IPO in the middle of the initial range of CZK220 ($9.1) to CZK260 ($10.75) per share.

APAC

Seven & i consortium said to tap BofA, Citi for financing. (Bloomberg)

A consortium aiming to take Seven & i private has enlisted Citigroup and Bank of America to provide financing, expanding the group involved in what could be a record-breaking management buyout.

The two US banks are expected to help refinance the debt of Seven & i’s American division. As of November, the company had JPY2.7tn ($17.8bn) in debt, with 56% tied to its international convenience store business.

Seven & i is advised by Mitsubishi UFJ Morgan Stanley Securities, Nomura, Brunswick Group (led by Jonathan Doorley) and Kekst CNC (led by Jochen Legewie). Alimentation Couche-Tard is advised by Goldman Sachs (led by David Dubner and Stephan Feldgoise) and FGS Global (led by Boyd Erman), according to press releases and MergerLinks data.

Bain is said to near $3bn deal for Mitsubishi pharma unit. (Bloomberg)

Bain Capital is close to reaching an agreement to acquire Mitsubishi Chemical Group’s pharmaceutical unit.

The US-based private equity firm and Mitsubishi are finalizing the terms of a transaction that could be announced as soon as February 7. The deal could value Mitsubishi Tanabe Pharma at more than JPY500bn ($3.3bn).

Historically, Bain Capital has worked with Kirkland & Ellis, Goldman Sachs and Ropes & Gray, according to MergerLinks data.

India's Akasa Air to raise capital from investment offices of Azim Premji, Ranjan Pai. (Press Release)

India's Akasa Air announced on February 6 that it is raising fresh capital from the investment offices of Wipro founder Azim Premji, Manipal Hospitals Chairman Ranjan Pai, and funds managed by wealth management firm 360 ONE.

The airline, one of India’s newest carriers, did not disclose financial terms of the investment. Additionally, the family of late Indian billionaire Rakesh Jhunjhunwala, a key backer of the low-cost carrier, will inject more capital into the airline.

Tiktok's Chinese owner appears to be slow-rolling negotiations for sale. (Reuters)

ByteDance, the owner of short video app TikTok, appears to be stalling negotiations for a sale while awaiting approval from the Chinese government. Meanwhile, allies of President Donald Trump are pushing to secure a deal with an American buyer.

China is likely to take a hard-line stance, potentially allowing TikTok’s US operations to shut down rather than approving a sale. Beijing is reportedly holding out for a broader agreement with the Trump administration that includes concessions on trade and technology policy.

Nissan looking for new partner as Honda deal set to collapse. (FT)

Nissan Motor is looking for a new partner as it prepares to end discussions with Honda Motor on forming a joint holding company.

The automaker is seeking an ally from the technology sector, preferably based in the US. While Nissan's global sales have slowed, North America remains its key market, and the industry-wide shift toward electrification and automation is driving carmakers to forge partnerships with high-tech firms.

Carlyle-owned Hexaware seeks $1bn in Trimmed India listing. (Bloomberg)

Hexaware Technologies is preparing to launch its initial public offering next week after reducing the offering size, though it remains India’s first $1bn listing of the year.

The Carlyle Group-owned company is set to begin taking investor orders as it moves forward with the share sale.

Hitachi establishes its fourth corporate venture capital fund. (Press Release)

Hitachi has announced the launch of its fourth corporate venture capital fund, aimed at identifying startups with disruptive potential and driving future growth opportunities.

The new fund, with a size of $400m, is Hitachi’s largest CVC fund to date. It will focus on strategic investments in startups specializing in digital technologies, including data centers, distributed energy systems, industrial AI, and the future of work. Additionally, it will target emerging fields such as biotechnology, quantum computing, nuclear fusion, life sciences, and space technologies.

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