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AMERICAS
Heritage Growth Partners-backed Creative Sign Designs, a nationally recognized partner for custom signage, wayfinding systems and environmental graphic design, completed the acuisition of Rite Lite Signs, a Concord, North Carolina based full-service architectural sign manufacturer delivering integrated design, fabrication and installation capabilities, according to press releases. Financial terms were not disclosed.
Rite Lite Signs was advised by Proviso Group. Creative Sign Designs was advised by Tanner, livingHR, GZA GeoEnvironmental, Asset Appraisal Partners, The Baldwin Insurance Group, Hill Ward Henderson, Insight Tax Advisors, Atlas Professional Services and Clayton Consulting, according to press releases.
AURELIUS, a private equity firm, agreed to acquire Hain International, the UK and European food and beverage business, from Hain Celestial, health and wellness food and beverage company, for $323m, according to press releases.
AURELIUS is advised by Food Strategy Associates, Alvarez & Marsal, BDO, Houlihan Lokey, Freshfields, Haver Mailänder and Shoosmiths. Hain Celestial is advised by Goldman Sachs and DLA Piper, according to MergerLinks data and press releases.
Patient Square Capital-backed Hanger, a provider of orthotic and prosthetic patient care services and products, agreed to acquire Numotion, a provider of mobility products and services, from AEA Investors, a private equity firm, according to press releases. Financial terms were not disclosed.
Numotion is advised by Jefferies & Company and Fried Frank Harris Shriver & Jacobson. Hanger is advised by Barclays, Citigroup, Santander, Wells Fargo Securities and Kirkland & Ellis. Patient Square is advised by Stikeman Elliott and Prosek Partners, according to MergerLinks data and press releases.
Eli Lilly, a pharmaceutical company, completed the acquisition of AtaiBeckley, a clinical-stage biopharmaceutical company, for $2.8bn, according to press releases.
Blackstone, an alternative asset manager, agreed to acquire a majority stake in Flow Control, a provider of highly engineered flow control solutions and components, from Audax, a private equity platform, according to press releases. Financial terms were not disclosed.
Flow Control is advised by Houlihan Lokey, Jefferies & Company and Ropes & Gray. Blackstone is advised by Goldman Sachs, UBS, William Blair & Co and Kirkland & Ellis. Audax is advised by Gasthalter & Co, according to MergerLinks data and press releases.
Neuberger and KKR, investment firms, agreed to invest in New Mountain Capital-backed Datavant, a data collaboration platform trusted for healthcare, according to press releases. Financial terms were not disclosed.
Datavant is advised by JP Morgan, Jefferies & Company, Wells Fargo Securities and Ropes & Gray. Neuberger and KKR are advised by Latham & Watkins (led by Stelios Saffos, Peter J. Sluka and Andrew Blumenthal). New Mountain Capital is advised by Ropes & Gray and H/Advisors (led by Dana Gorman), according to press releases and MergerLin ks data.
New Mountain Capital, a growth-oriented investment firm, completed the acquisition of a minority stake in Appleby, an offshore legal and corporate services platform, according to press releases. Financial terms were not disclosed.
Appleby was advised by Guggenheim Partners and Ropes & Gray. New Mountain was advised by Piper Sandler, Addleshaw Goddard, Simpson Thacher & Bartlett and H/Advisors (led by Dana Gorman), according to press releases.
Genstar Capital and Aksia, private equity firms, agreed to invest in F3 Partners-backed Richey May, a full-service firm providing accounting, tax and advisory services, according to press releases. Financial terms were not disclosed.
Richey May is advised by Guggenheim Partners and Simpson Thacher & Bartlett (led by Tim Gaffney). Genstar Capital is advised by BMO Capital Markets, Ropes & Gray (led by Elizabeth Gallucci and Minh-Chau Le) and FGS Global, according to press releases and MergerLinks data.
Enel, an Italian multinational manufacturer and distributor of electricity and gas, agreed to acquire a 830 MW portfolio of wind and solar plants in the US from Excelsior Energy Capital, a Minneapolis-based independent investment firm specializing in renewable energy infrastructure, for $1bn, according to press releases.
Enel is advised by Jefferies & Company. Excelsior Energy Capital is advised by KeyBanc Capital Markets, Morgan Stanley, Akin Gump Strauss Hauer & Feld, and Gregory FCA (led by Philip Nunes), according to press releases and MergerLinks data.
Kohlberg-backed Loenbro, an industrial services contractor and construction lifecycle partner, completed the acquisition of Prism Electric, an electrical contracting and industrial services company serving Texas and Oklahoma, according to press releases. Financial terms were not disclosed.
Loenbro is advised by Alvarez & Marsal, Evercore and Godfrey & Kahn. Prism Electric is advised by Glaucon Capital Partners and Hallett & Perrin, according to press releases.
Niobrara Capital, a private equity investment firm, completed the acquisition of MSP Corp, a provider of information technology (IT) services, from a consortium of investors consisting of Alfar Capital, Walter Capital Partners, and BDC Capital, according to press releases. Financial terms were not disclosed.
Niobrara Capital was advised by Gagnier Communications. MSP Corp was advised by Grant Thornton and Canaccord Genuity. Alfar Capital, Walter Capital Partners, and BDC Capital were advised by Canaccord Genuity and Fasken, according to press releases.
Berkshire Partners, a private equity firm, completed an investment in TowerNorth, an independent developer, owner, and operator of mission critical wireless infrastructure, according to press releases. Financial terms were not disclosed.
Berkshire Partners was advised by Guggenheim Partners, Croke Fairchild Duarte & Beres, Kirkland & Ellis and Edelman, according to press releases.
Crane Company, an industrial manufacturing and technology company, agreed to acquire Trillium Pumps US, a provider of highly engineered pumping technologies, from First Reserve-backed Trillium Flow Technologies, a provider of engineered flow-control products and aftermarket services, for $240m, according to press releases.
First Reserve is advised by Joele Frank. Trillium Flow is advised by JP Morgan and Freshfields, according to MergerLinks data and press releases.
Audax Private Equity, a private equity platform, completed the acquisition of Integral Consulting, a science and engineering consulting firm, from Imperial Capital, a mid-market private equity firm, according to press releases. Financial terms were not disclosed.
Audax was advised by Ropes & Gray. Imperial Capital was advised by Lincoln International and Torys, according to MergerLinks data and press releases.
PPC-backed C.H. Guenther & Son, a global food manufacturer and bakery supplier, completed the acquisition of House-Autry Mills, a Southern heritage food company, according to press releases. Financial terms were not disclosed.
House-Autry Mills was advised by Westerra Capital. PPC was advised by FTI Consulting (led by Steven Glynias), according to press releases.
Brookfield, an alternative asset management company, agreed to acquire a minority stake in American Real Estate Partners, a real estate investment manager and development platform, according to press releases. Financial terms were not disclosed.
American Real Estate Partners is advised by Rothschild & Co and REQ (led by Lisa Throckmorton), according to press releases.
Plains All American, a midstream energy infrastructure company, agreed to acquire Powder River Basin assets of Tailwater Capital-backed Silver Creek Midstream, a provider of midstream crude oil services, for $585m, according to press releases.
Silver Creek Midstream is advised by RBC Capital Markets and Troutman Pepper Locke, according to press releases.
Carlyle-backed Avenrock Energy, a newly formed Canadian energy company, agreed to acquire Parallax Energy, an upstream exploration and production company active in the East Shale Duvernay in Alberta, from Carnelian Energy Capital, a private equity firm specialised in the energy sector, according to press releases. Financial terms were not disclosed.
Carlyle and AvenRock Energy are advised by BMO Capital Markets and Torys, according to press releases.
TPG, a global alternative asset manager, agreed to acquire a minority stake in Tablet Command, a provider of incident management and emergency response software, according to press releases. Financial terms were not disclosed.
Tablet Command is advised by Robert W Baird and Sidley Austin, according to press releases.
Silversmith Capital Partners, a growth equity investment firm, completed a $100m investment in Vantora, a venture-building platform that partners with global industrial enterprises to co-create high-impact, AI-native operating companies, according to press releases.
Vantora was advised by Dorsey & Whitney. Silversmith Capital Partners was advised by Mintz Levin, according to press releases.
Forbion, a global venture capital and growth equity firm, led a $123m Series C round in Sling Therapeutics, a clinical-stage biopharmaceutical company, with participation from TPG Life Sciences Innovations and Sectoral Asset Management, according to press releases.
Sling Therapeutics was advised by 1AB (led by Amanda Lazaro), according to press releases.
Main Capital Partners, an investment management company, to acquire Watermark Insights, a provider of integrated educational intelligence software platform, according to press releases. Financial terms were not disclosed.
Watermark Insights is advised by Moelis & Co, according to MergerLinks data.
Lightspeed, a venture capital firm, led a $550m Series E round in Temporal, an open-source durable execution platform, with participation from Wellington Management, Goldman Sachs Alternatives, Tiger Global, T. Rowe Price, SV Angel, a16z, Sequoia, Index, GIC, Sapphire Ventures and Amplify, according to press releases.
Temporal was advised by SBS Comms, according to press releases.
SCF Partners, a private equity firm, completed the acquisition of American Piping Products, a distributor of piping products intended to serve the sectors such as energy, manufacturing, fabrication and construction industries, according to press releases. Financial terms were not disclosed.
Blue Delta Capital Partners-backed ITC Federal, a company specializing in mission-focused IT solutions, agreed to acquire Capgemini Government Solutions, a company focused on digital transformation, platform implementations, and data modernization for US federal government customers, from Capgemini, a global technology and consulting firm, according to press releases. Financial terms were not disclosed.
Macquarie Asset Management, an asset manager focused on infrastructure and real assets, agreed to acquire a majority stake in SI Solutions, a company specializing in structural integrity engineering, testing and software solutions for critical infrastructure operators, from MidOcean Partners, a private equity fund, according to press releases. Financial terms were not disclosed.
Sverica, a private equity investment firm, completed the investment in Atrium, an AI-native consulting and data transformation company, according to press releases. Financial terms were not disclosed.
Moore Strategic Ventures and Coreline Ventures, venture capital firms, led a $114m Series D round in CADDi, a global manufacturing technology company, with participation from HR Tech Fund, Woven Capital, and Salesforce Ventures, Atomico, Globis Capital Partners and JPS Growth Investment, according to press releases.
Walter and Boehly move closer to selling Chelsea FC stakes to Clearlake. ( Bloomberg)
Billionaire investors Mark Walter and Todd Boehly are close to selling their stakes in Chelsea FC to majority owner Clearlake Capital.
Glencore, InfraVia said among suitors for Eramet lithium stake. ( Bloomberg)
Glencore and InfraVia Capital Partners are among potential bidders for a minority stake in Eramet’s lithium mining and refining operations in Argentina, as the French miner considers asset sales to reduce debt.
Companies from Japan and the US have also been approached as potential investors. Discussions remain in the early stages and may not result in a transaction.
Apollo Sports Capital shows interest in NFL stake, CEO Tylis says. ( Bloomberg)
Apollo Sports Capital is looking to join the group of private equity firms eligible to invest in an NFL franchise. CEO Al Tylis said the firm is open to opportunities across major global sports properties — including the NFL.
Firehawk seeks funding at $1.25bn valuation. ( Bloomberg)
Firehawk Aerospace is pursuing a new private funding round that would value the defense‑tech firm at about $1.25bn.
The company, backed by 1789 Capital, is looking to raise $100m to $200m.
CVC-backed Bamboo Insurance targets $3.24bn valuation in US IPO. ( Reuters)
Bamboo Insurance Services is targeting a fully diluted valuation of up to $3.24bn in a US IPO, with selling shareholders offering 35m shares at $18 to $20 each to raise as much as $700m.
Altera plans a 2026 IPO expected to raise more than $2bn. ( Reuters)
Silver Lake‑ and Intel‑backed Altera is preparing a confidential IPO filing that could come as early as 2026, in a deal expected to raise more than $2bn.
The chipmaker has lined up Barclays, Citi, JP Morgan and Morgan Stanley for the offering, though the final bank order is still being determined.
Bain Capital Ventures raises $1.6bn for life after AGI. ( Bloomberg)
Bain Capital Ventures has raised $1.6bn for a new fund targeting early-stage startups focused on the next phase of artificial intelligence.
The fund, slightly larger than its $1.4bn predecessor, will invest in companies spanning AI infrastructure, the physical world, security and services, including customer support and information technology applications.
EMEA
Breakwater Management, a private investment firm, completed the acquisition of a majority stake in Jones Knowles Ritchie, an independent brand consultancy, according to press releases. Financial terms were not disclosed.
Breakwater Management was advised by Lincoln International and Simpson Thacher & Bartlett. Debt financing was provided by Forge Select (led by Sanjay Gupta), Lloyds Bank, MB Global Partners, Muzinich & Co and OakNorth Bank. Forge Select was advised by Morgan Lewis & Bockius, according to press releases.
Apollo, an alternative asset manager, and KKR, an investment firm that manages multiple alternative asset classes, completed the acquisition of a minority stake in the long-acting reversible contraceptives business from Bayer, a life science company, for €3bn, according to press releases.
Grupa Kęty, a Polish aluminum products manufacturer, agreed to acquire Metra, an Italian manufacturer of complex extruded aluminum profiles, from KPS Capital Partners, an American investment company, for €645m, according to press releases
Grupa Kęty is advised by KPMG, Rothschild & Co and White & Case. Metra and KPS Capital Partners are advised by Bank of America, Barclays and Paul Weiss Rifkind Wharton & Garrison, according to press releases.
Accel-KKR, a technology-focused private equity firm, offered to acquire Eleco, a provider of software and related services to the built environment, for £208m ($282m), according to press releases.
Eleco is advised by Cavendish (led by Henrik Persson), Stephens (led by Graham Paton) and Dorsey & Whitney. Accel-KKR is advised by Rothschild & Co (led by Anton Black), Kirkland & Ellis and Kekst CNC (led by Todd Fogarty), according to MergerLinks data and press releases.
Main Capital Partners, a private equity firm, agreed to acquire Tribal Group businesses, provider of education management software and services, for £189m, according to press releases.
Tribal Group is advised by Investec (led by Luke Spells), Singer Capital Markets (led by Sara Hale) and Alma Strategic Communications (led by Caroline Forde), according to MergerLinks data and press releases.
Gemspring Capital-backed TRG, a global managed services provider specializing in enterprise mobility, industrial mobility, and technology solutions, completed the acquisition of Vista Technology Support, a provider of managed IT support, service desk and IT project services, from LDC, a UK-based private equity firm focused on mid-market investments, according to press releases. Financial terms were not disclosed.
TRG was advised by Jones Day. Vista Technology Support and LDC were advised by Gambit Corporate Finance and Blake Morgan, according to press releases.
Daiwa House, a company that designs and builds residential, commercial, and institutional buildings, to acquire 30% stake in Miller Homes, a developer of residential buildings and apartments, from Apollo Global Management, an alternative investment manager, according to press releases. Financial terms were not disclosed.
Apollo Global Management is advised by Rothschild & Co, A&O Shearman and Paul Weiss Rifkind Wharton & Garrison, according to press releases.
Blue Pool Capital, a multi-strategy investment firm, led a $233m funding round in Tabby, a financial technology company, with participation from HSG, Wellington Management and Arbor Ventures, according to press releases.
Blue Pool is advised by FGS Global, according to press releases.
A consortium of investors led a €200m Series A round in EUCLYD.
A consortium of investors including Samsung, Somerset Capital Partners, Scaleup Europe Fund and Innovation Industries, led a €200m Series A round in EUCLYD, a European semiconductor systems company developing ultra-efficient infrastructure for foundation AI models, with participation from the Export and Investment Fund of Denmark, imec.xpand, Brabant Development Agency, and Quadri, according to press releases.
OG Venture Partners, a private equity firm, led a $130m Series E round in Buildots, an AI-powered construction intelligence software company, with participation from Lightspeed Venture Partners, Intel Capital, Mohari Ventures, Human Capital, Qumra Capital, Avigdor Willenz, Viola Growth and Poalim Equity, according to press releases.
S&P Global led a $110m Series B extension in Kaiko, a financial data and infrastructure company, with participation from BNP Paribas, Bpifrance, Broadridge, Canton Foundation, Coinbase Ventures, DRW Venture Capital, Nasdaq Ventures, Royal Bank of Canada, Stellar, Susquehanna Private Equity, Anthemis, Point Nine, and Revaia, according to press releases.
CVC faces shareholder revolt over €10.7bn Recordati take-private. ( FT)
CVC is facing opposition from minority shareholders and Recordati’s independent directors over its €51.29 ($60) per share offer to take the Italian pharmaceutical company private, with critics arguing the bid undervalues the business.
Vista Equity exploring strategic options for financial software provider Finastra. ( Reuters)
Vista Equity Partners is exploring strategic options for financial software provider Finastra, including a potential full or partial sale of the business. The company could attract a valuation ranging from the high-single-digit billions to as much as $12bn.
Vista has appointed Morgan Stanley to advise on the process, with other options including a merger with another industry player or an acquisition by Finastra. Blackstone is among the potential bidders evaluating the London-based company, which provides payments, lending and corporate banking software to financial institutions globally.
Brookfield agrees recapitalization of UK resort operator Center Parcs at $6bn valuation. ( Bloomberg)
Brookfield is nearing a recapitalization of British holiday park operator Center Parcs in a deal valuing the business at about $6bn.
New investors including Australian Retirement Trust and Mercer Super are expected to participate, with more than three-quarters of the capital coming from new backers.
Asian PE firms circle €1bn racing brand Alpinestars. ( Bloomberg)
Italian motorcycle protection gear maker Alpinestars is attracting takeover interest from Asian private equity firms including FountainVest and HSG as the company explores a potential sale.
Alpinestars is working with a financial adviser on the process, which could value the business at around €1bn ($1.2bn). FountainVest and HSG are among the potential bidders considering separate offers for the company.
Data center cooling systems maker Güntner to weigh sale. ( Bloomberg)
Güntner, a family-owned German manufacturer of cooling systems, is weighing a sale that could value the business at more than €1bn ($1.2bn).
The company is working with an adviser to gauge interest from strategic and financial buyers, with Advent, Blackstone, Cinven and KKR among the private equity firms exploring a potential deal. Preliminary bids were due this week, though talks may not result in a transaction.
Francisco Partners and KKR to buy minority stakes in TeamSystem. ( Reuters)
Private equity firms Francisco Partners and KKR have reached terms to acquire minority stakes in Italian software provider TeamSystem from majority investor Hellman & Friedman.
H&F is selling roughly 10% of the company to Francisco Partners, while an additional about 5% stake is being taken up by other investors including KKR.
PE firm Waterland ends alliance with Giacom in its pursuit of Gamma. ( Reuters)
Dutch private equity firm Waterland said that it is no longer working in concert with UK‑based Giacom on a potential offer for British telecom operator Gamma Communications.
KKR to be preferred bidder for Portugal's Logoplaste. ( Bloomberg)
KKR has emerged as the preferred bidder to acquire Portuguese packaging maker Logoplaste.
The US private equity firm is in exclusive talks with Logoplaste’s owners after Apax Partners dropped out of the process. A deal could be reached in the coming weeks, though discussions remain ongoing.
Hy24, COFIDES to buy 29% stake in Moeve's green hydrogen project in southern Spain. ( Reuters)
Hy24 and Spanish public-private financial institution COFIDES have agreed to acquire a combined 29% stake in Moeve's Onuba renewable hydrogen project in southern Spain.
Moeve will retain a 51% majority stake, while Enagás Renovable, Alter Enersun, Hy24 and COFIDES will hold minority interests in the project.
PSG Equity holds final close of third European fund at over €4.4bn. ( Press Release)
PSG Equity has raised more than €4.4bn ($5.2bn) for its third Europe-focused growth equity fund, reaching its hard cap with commitments from investors including state pension funds, sovereign wealth funds, insurers and family offices.
PSG Europe III is significantly larger than its €2.6bn ($3.1bn) predecessor, which closed in 2023. The fund will invest in European software and technology companies, with a focus on businesses using AI and emerging AI-native companies.
APAC
Macquarie Asset Management, a private equity firm, completed the acquisition of a 37.5% stake in Maple InvIT, a highway construction company, from La Caisse, a private equity firm, for $450m, according to press releases.
Macquarie was advised by Ambit (led by Rahul Mody and Raman Gupta), A&O Shearman, S&R Associates and Talwar Thakore & Associates (TT&A) (led by Gautam Saha and Shivranjani Ralawata). La Caisse was advised by Freshfields, according to MergerLinks data and press releases.
Brookfield, an alternative asset management company, agreed to acquire Reliance Worldwide, a global Australian-founded manufacturer that designs and supplies water flow, control, and plumbing solutions, for AUD4.1bn ($2.9bn), according to press releases.
Reliance Worldwide is advised by Goldman Sachs, Herbert Smith Freehills Kramer and Teneo, according to press releases and MergerLinks data.
Hitachi and Platinum among bidders for Swarco unit. ( Bloomberg)
Hitachi is among the bidders for a stake in Swarco, the Austrian traffic‑solutions group owned by members of the Swarovski family.
The Japanese company is competing with buyout firms including Platinum Equity for Swarco’s intelligent transport systems division, which could fetch around €1bn ($1.162bn).
Manus eyes $4bn value in the first round since Meta breakup. ( Bloomberg)
The financing would double Manus’ valuation and make it one of China’s most valuable startups focused on agentic AI. Existing backers include Tencent, HSG and ZhenFund, while the identities of new investors remain unclear. Terms are still being finalized and could change.
Goldman, Templeton, Fidelity said to plan buying into NSE IPO. ( Bloomberg)
Goldman Sachs Asset Management, Franklin Templeton and Fidelity International are among the global investors expected to participate as anchor investors in the National Stock Exchange of India’s planned initial public offering, which could raise up to INR226bn ($2.4bn).
Norges Bank Investment Management, Abu Dhabi Investment Authority, GIC, Eastspring Investments, Millennium Management, Marshall Wace, Citadel Capital and Ghisallo Capital Management are also expected to participate in the anchor book ahead of the listing.
Paytm bulls see IPO price back in reach after five-year wait. ( Bloomberg)
Paytm shares have rallied 54% this quarter, bringing the Indian digital payments company within 22% of its INR2.15k ($16.71) initial public offering price for the first time since its listing.
Jefferies and JM Financial have raised their price targets to INR2.15k ($16.71), while Investec Securities and Emkay Global Financial Services see potential for the shares to reach INR2.3k-INR2.4k ($17.9-$18.7).
Goldman Sachs Alternatives raises $11.7bn for private equity with the final close of West Street Capital Partners IX. ( Press Release)
Goldman Sachs Alternatives has raised $11.7bn across its latest private equity vehicles, including $9.6bn for flagship West Street Capital Partners IX and more than $1.6bn for its first dedicated pan-Asia private equity fund.
West Street Capital Partners IX will focus on control-oriented upper mid-market investments across the US and Europe, while the Asia fund will target middle-market and select growth opportunities across the region.
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