|
Top Highlights
KKR, an investment firm, and Stonepeak, an alternative investment firm, agreed to acquire Assura, a British-based property business, for £1.6bn ($2bn), according to press releases.
General Catalyst-backed Transcarent, a health and care experience company, completed the acquisition of Accolade, an innovative healthcare company, for $621m, according to press releases.
Accolade was advised by Morgan Stanley and Cooley (led by Alan Hambelton). Transcarent was advised by Evercore and Wilson Sonsini Goodrich & Rosati. General Catalyst was advised by Latham & Watkins (led by Stephen Ranere). Debt financing was provided by 62 Ventures, according to press releases and MergerLinks data.
KKR, a private equity firm, agreed to acquire Karo Healthcare, a pan-European consumer healthcare company, from EQT, a Swedish global investment organization, according to press releases. Financial terms were not disclosed.
KKR is advised by Citigroup and FGS Global (led by Alastair Elwen). EQT is advised by Jefferies & Company, Morgan Stanley, PricewaterhouseCoopers and White & Case (led by Patrik Erblad), according to press releases and MergerLinks data.
Deal Round up
AMERICAS
Wells Fargo hires Goldman’s DiOrio to lead industrials M&A. ( Bloomberg)
EMEA
Santander weighs options for $8bn stake in Polish unit. ( Bloomberg)
1Komma5 delays US IPO plans amid market uncertainty. ( Reuters)
APAC
Top Malaysian telecom firm seeks adviser for $3bn Edotco sale. ( Bloomberg)
I Squared’s HKBN bid faces hurdle with China sovereign fund. ( Bloomberg)
|
INVESTORS
FINANCIAL ADVISORS
LEGAL ADVISORS
PR ADVISORS
|
|
Read on...
Scroll down to read deal descriptions. Your suggestions and comments support the democratisation of M&A data. If you'd like to contribute to the future editions, drop us a line.
AMERICAS
Constellation Energy has defended its proposed $16.4bn acquisition of Calpine in a regulatory filing, following opposition from consumer groups concerned about increased market power.
The deal involves the purchase of Calpine, a privately held US natural gas and geothermal company. The companies sought approval from the Federal Energy Regulatory Commission. If approved, the transaction would make Constellation the largest independent power producer in the US.
Constellation is advised by JP Morgan, Joele Frank, Lazard, Kirkland & Ellis (led by David Feirstein and Douglas Bacon) and Gibson Dunn & Crutcher (led by Hillary Holmes). Calpine is advised by Barclays, Evercore, Goldman Sachs, Morgan Stanley, Latham & Watkins (led by David Kurzweil and Edmond R. Parhami) and White & Case (led by Mingda Zhao, Michael Shenberg and Emilio Grandio). Energy Capital is advised by FGS Global. Access Industries is advised by Debevoise & Plimpton (led by Eric T. Juergens, Matthew E. Kaplan, Christopher Anthony and Jonathan Levitsky) , according to press releases and MergerLinks data.
Lindsay Goldberg-backed Kleinfelder Group, an engineering, design, construction management, construction materials inspection and testing, and environmental professional services firm, completed the acquisition of Veenstra & Kimm, an engineering firm, according to press releases. Financial terms were not disclosed.
Veenstra & Kimm was advised by Denman CPA, PSMJ Resources and Donahue Fitzgerald. Kleinfelder was advised by KPMG, Morrissey Goodale and Winston & Strawn, according to press releases.
Ridgeview Partners, a private equity firm, completed the investment in TA Associates-backed Radiant Logic, a provider of identity data management and identity analytics solutions, according to press releases. Financial terms were not disclosed.
Radiant Logic was advised by Deutsche Bank, Kirkland & Ellis and Stealth PR. Ridgeview Partners was advised by PJT Partners and Sidley Austin (led by Daniel J. Belke and David Clivner) , according to press releases.
Siemens Digital Industries Software, a computer software company, completed the acquisition of DownStream Technologies, a provider of manufacturing data preparation solutions for printed circuit board design, according to press releases. Financial terms were not disclosed.
Wells Fargo hires Goldman’s DiOrio to lead industrials M&A. ( Bloomberg)
Wells Fargo has appointed Chris DiOrio to lead its industrials M&A group as part of ongoing efforts to strengthen its investment banking division.
DiOrio joins as a managing director based in New York and will report to Jeff Hogan, head of global M&A. He spent the past decade at Goldman Sachs, most recently as a managing director in the industrials M&A group. Before that, he held senior roles at Barclays, including head of consumer and retail M&A.
EMEA
Danish logistics firm DSV has received approval from the European Union's antitrust regulators for its €14.3bn ($15.8bn) acquisition of German competitor Schenker.
The deal, announced by DSV in September of last year, involves the logistics division of Germany’s state-owned railway company, Deutsche Bahn, and is set to form the largest logistics company globally.
Strategic Value Partners, a global alternative investment firm, and Blantyre Capital, an investment manager, completed the acquisition of OQ Chemicals, a global producer and merchant of oxo chemicals, according to press releases. Financial terms were not disclosed.
Strategic Value Partners and Blantyre Capital were advised by Lazard, Akin Gump Strauss Hauer & Feld, Kirkland & Ellis (led by Kon Asimacopoulos) and Greenbrook (led by James Madsen) , according to press releases.
DEME, an offshore energy and marine engineering company, agreed to acquire Havfram, an international offshore wind infrastructure company, from Sandbrook Capital, a private investment firm, and PSP Investments, a pension investor, for €900m ($985m), according to press releases.
Sandbrook Capital and PSP Investments are advised by Goldman Sachs and Thommessen, according to press releases.
ZOZO, a fashion technology company, agreed to acquire Lyst, a global fashion search platform that allows users to browse through thousands of online fashion stores, for $154m, according to press releases.
Lyst is advised by Rothschild & Co and FGS Global (led by Charlie Chichester), according to press releases and MergerLinks data.
Origin Enterprises, a focused agri-services group providing specialist on-farm agronomy services and the supply of crop technologies and inputs, completed the acquisition of Scott Cawley, a specialist ecological consultancy company, according to press releases. Financial terms were not disclosed.
Scott Cawley was advised by DC Advisory (led by Laurence O’Shaughnessy), according to press releases and MergerLinks data.
Santander weighs options for $8bn stake in Polish unit. ( Bloomberg)
Banco Santander is exploring strategic options for its 62% stake in Santander Bank Polska, including a potential sale.
The Spanish lender is working with an adviser to review the holding and has approached potential investors to assess interest. Based on the latest share price, the stake is valued at around $8bn.
1Komma5 delays US IPO plans amid market uncertainty. ( Reuters)
German tech startup 1Komma5 has joined Swedish fintech company Klarna in putting its plans for a US IPO on hold, citing market volatility linked to trade and renewable energy policies under President Trump.
The energy-focused unicorn, which leverages AI to deliver solar power, energy storage and e-mobility solutions, was targeting a NASDAQ listing in 2025. Following a recent fundraising round, the company reached a valuation of just over $1bn, securing its place among Germany’s select group of unicorns.
APAC
Peabody Energy is reassessing its $3.78bn acquisition agreement with Anglo American for a portfolio of Australian steelmaking coal assets following a production halt caused by a fire at one of the mines included in the transaction. The deal, signed in 2024, was scheduled to close by mid-2025.
Bharat Petroleum, an Indian oil and gas company, and Sembcorp Green Hydrogen India, an energy and urban solutions provider, formed a joint venture, according to press releases. Financial terms were not disclosed.
BPCL was advised by Concept PR, according to press releases.
TPG, an alternative asset management firm, agreed to acquire a majority stake in Five Good Friends, an in-home care provider, according to press releases. Financial terms were not disclosed.
Five Good Friends is advised by Brunswick Group (led by Katelin Stevenson) , according to press releases.
Sanabil Investments, a financial investment company, and Valar Ventures, a venture capital fund, led a $110m round in SILQ Group, a B2B Commerce Platform, according to press releases.
Sary, a B2B marketplace and services platform, and ShopUp, a B2B commerce platform, formed SILQ Group, according to press releases. Financial terms were not disclosed.
Arcadea Group, an investment firm, completed the acquisition of Agdata, a company specializing in the development, distribution and support of premium farm management software, according to press releases. Financial terms were not disclosed.
Top Malaysian telecom firm seeks adviser for $3bn Edotco sale. ( Bloomberg)
Axiata Group and Malaysia’s sovereign wealth fund Khazanah Nasional are seeking a financial adviser for the potential sale of Edotco Group, a telecommunications tower company that could be valued at around $3bn including debt.
Investment banks have been invited to submit proposals to advise on the transaction.
I Squared’s HKBN bid faces hurdle with China sovereign fund. ( Bloomberg)
I Squared Capital’s planned bid for Hong Kong internet provider HKBN has encountered a setback as it struggles to gain support from China Investment, the country’s sovereign wealth fund.
The Miami-based firm, which already owns broadband operator HGC Global Communications—where CIC holds a minority stake—intends to merge it with HKBN. However, it has yet to obtain CIC’s approval to proceed with a formal offer, putting the proposal at odds with a competing bid from state-backed China Mobile.
|
Connect the World of Dealmakers
Expand your network of fellow Dealmakers by inviting your colleagues and coworkers.
Join Now
If you know someone who might enjoy this briefing forward this email. Subscribe to a Daily Review.
|
|
|
|
|
