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
GTCR, a private equity firm, completed the investment in Clear Capital, a data solutions company, according to press releases. Financial terms were not disclosed.
Clear Capital was advised by American Discovery Capital, O'Melveny & Myers and Caliber Corporate Advisers (led by Ross Stevens). GTCR was advised by Houlihan Lokey, Wells Fargo Securities, Simpson Thacher & Bartlett and Prosek Partners (led by Ryan Smith and Josh Clarkson), according to press releases.
BlackRock-backed HPS Investment Partners, an investment firm, agreed to acquire ElmTree Funds, a real estate investment firm, according to press releases. Financial terms were not disclosed.
BlackRock is advised by Skadden Arps Slate Meagher & Flom, Fried Frank Harris Shriver & Jacobson, and Sidley Austin. HPS Investment Partners is advised by Goldman Sachs. ElmTree Funds is advised by Berkshire Global Advisors and Kirkland & Ellis, according to press releases.
Oak Hill, and Pamlico, the private equity firms, agreed to acquire a stake in IdeaTek, a Kansas-based broadband service provider, from TPG, a private equity investment firm, according to press releases. Financial terms were not disclosed.
Oak Hill and Pamlico are advised by Houlihan Lokey, Alston & Bird and Paul Weiss Rifkind Wharton & Garrison (led by Brian C. Lavin). Oak Hill is also advised by Prosek Partners (led by Nadia Damouni and Trevor Gibbons). IdeaTek is advised by Bank Street Group and Stinson, according to press releases and MergerLinks data.
Stonepeak, an alternative investment firm, agreed to acquire a 50% stake in IFCO, a global provider of reusable packaging solutions, from ADIA, an investment firm, according to press releases. Financial terms were not disclosed.
Stonepeak is advised by Citigroup and Kirkland & Ellis (led by Tobias Larisch). Triton and ADIA are advised by Bank of America, Morgan Stanley and Latham & Watkins (led by Oliver Felsenstein and Leif U. Schrader). ADIA is advised by Freshfields Bruckhaus Deringer, according to press releases and MergerLinks data.
TopBuild, an installer and specialty distributor of insulation and related building material products, agreed to acquire Progressive Roofing, a commercial roofing installation services provider, from Bow River Capital, a private alternative asset management company, for $810m, according to press releases.
TopBuild is advised by RBC Capital Markets and Jones Day (led by Ben Stulberg). Bow River is advised by Citizens Bank, Guggenheim Partners and Brownstein Hyatt Farber Schreck, according to press releases.
Blackstone-backed Chamberlain Group, a company specialising in intelligent access and monitoring with leading brands including LiftMaster and myQ, agreed to acquire Arrow Tru-Line, an independent manufacturer and supplier of structurally critical overhead garage door hardware components, from MiddleGround Capital, an operationally focused private equity firm, according to press releases. Financial terms were not disclosed.
Chamberlain Group is advised by Wells Fargo Securities and Simpson Thacher & Bartlett (led by Erica Egenes). MiddleGround Capital is advised by Raymond James, Greenberg Traurig and Dukas Linden Public Relations (led by Doug Allen), according to press releases.
ORIX, an alternative asset management, investment, and lending firm, agreed to acquire a majority stake in Hilco Global, a diversified global financial services firm, according to press releases. Financial terms were not disclosed.
Hilco Global is advised by JP Morgan, Greenberg Traurig, Kirkland & Ellis and Prosek Partners (led by Andy Merrill). ORIX is advised by Davis Polk & Wardwell and Prosek Partners (led by Trevor Gibbons) , according to press releases.
Hg, a private equity firm, agreed to acquire a majority stake in A-LIGN, a provider of technology-enabled cybersecurity compliance services, from Warburg Pincus, a private equity firm, according to press releases. Financial terms were not disclosed.
A-LIGN and Warburg Pincus were advised by Guggenheim Partners, Jefferies & Company and Cleary Gottlieb Steen & Hamilton. Hg was advised by Harris Williams & Co and Latham & Watkins, according to press releases.
Oak Hill, and Pamlico, the private equity firms, completed the investment in Socket, a Missouri-based fiber internet service provider, according to press releases. Financial terms were not disclosed.
Oak Hill and Pamlico were advised by Alston & Bird and Paul Weiss Rifkind Wharton & Garrison (led by Brian C. Lavin). Oak Hill was also advised by Prosek Partners (led by Nadia Damouni and Trevor Gibbons). Socket was advised by Houlihan Lokey and Brown Law, according to press releases and MergerLinks data.
TPG, a private equity investment firm, completed the acquisition of hospitality solutions business of Sabre, a travel technology company, for $1.1bn, according to press releases.
TPG was advised by William Blair & Co and Davis Polk & Wardwell. Sabre was advised by Evercore and Haynes Boone (led by Dan Malone and Joshua Reisman), according to press releases.
Liberty Hall Capital Partners, a private equity firm, completed the acquisition of Paxia, a company focused on cloud-based airline catering management solutions, from TELEO Capital, a private equity firm, according to press releases. Financial terms were not disclosed.
Liberty Hall Capital Partners was advised by Houlihan Lokey, Gibson Dunn & Crutcher and FTI Consulting (led by Val Mack). TELEO Capital was advised by O'Melveny & Myers, according to press releases.
Truelink Capital, a private equity firm, completed the acquisition of Zep, a manufacturer of specialty chemicals, from New Mountain Capital, a private equity firm, according to press releases. Financial terms were not disclosed.
Zep was advised by JMF Communications. New Mountain Capital was advised by Fried Frank Harris Shriver & Jacobson and H/Advisors Abernathy, according to press releases and MergerLinks data.
Strategic Value Partners, an investment management firm, agreed to acquire Red Oak, power facility from Morgan Stanley Infrastructure Partners, a company that directs and manages infrastructural assets for individual and institutional investors, according to press releases. Financial terms were not disclosed.
Morgan Stanley Infrastructure Partners is advised by Jefferies & Company and Santander, according to press releases.
Abry Partners, a private equity firm, completed the investment in Oracle Insurance Risk Management Services, a commercial and personal lines insurance brokerage, according to press releases. Financial terms were not disclosed.
Oracle RMS was advised by KPMG. Abry Partners was advised by FGS Global, according to press releases.
Blackstone Real Estate, a real estate investment firm, agreed to acquire Sunseeker Resort Charlotte Harbor, a brand-new resort with extensive core amenities, from Allegiant, an integrated travel company with an airline, for $200m, according to press releases.
Allegiant is advised by Barclays, according to press releases.
Bessemer Venture Partners and Bain Capital, a private equity firms, led a $150m Series D round in MaintainX, a maintenance and frontline work execution platform, with participation from D. E. Shaw Ventures, Amity Ventures, August Capital, Founders Circle Capital, Sozo Ventures, and Fifth Down Capital, according to press releases.
Main Post Partners, a private equity firm, completed the acquisition of a minority stake in Smoothie King, a smoothie restaurant chain, according to Bloomberg. Financial terms were not disclosed.
Linden Capital, a private equity firm, and GIC, a Singaporean sovereign wealth fund, completed the investment in Klick Group, a commercialization partner for life sciences, according to press releases. Financial terms were not disclosed.
Blackstone, Advent and Warburg Pincus circle Axis Finance in potential $1bn deal. ( PE Insights)
Private equity firms Blackstone, Advent International, Kedaara Capital and Warburg Pincus are competing to acquire as much as 100% of Axis Finance, in a potential transaction valued between $800m and $1bn.
The sale process is currently in the due diligence phase, with binding offers expected by the end of September. Morgan Stanley is advising on the transaction.
Axis Finance had previously explored restructuring alternatives such as a reverse merger or an IPO, but those options were ultimately set aside in favor of a full sale.
Bain Capital weighs sale of stake in Canada Goose. ( Bloomberg)
Bain Capital, the controlling shareholder of Canada Goose, is considering selling part or all of its stake in the luxury outerwear brand.
The private equity firm is working with advisers and has begun assessing interest from potential buyers, including other private equity firms.
General Atlantic eyes $2.4bn IPO for Joe & the Juice. ( PE Insights)
General Atlantic is exploring a potential US initial public offering of Danish juice and coffee chain Joe & the Juice, in a move that could value the business at around $2.4bn.
The move reflects General Atlantic’s broader strategy to scale global consumer brands and pursue capital markets exits for mature portfolio companies. A listing of Joe & the Juice would also signal renewed investor interest in branded lifestyle and food chains.
One Rock Capital Partners raises $4bn for Fund IV, Emerald Fund and related vehicles. ( Press Release)
Private equity firm One Rock Capital Partners has announced the final close of $4bn in capital commitments across two new funds and related vehicles: its flagship One Rock Capital Partners IV and the newly launched lower middle market-focused One Rock Emerald Fund.
This marks the firm's largest fundraising to date, significantly surpassing the $2bn raised for its previous fund in 2021. With the latest close, One Rock now manages over $10bn in cumulative capital commitments.
Seaside Equity Partners secures over $720m for two new funds. ( Press Release)
Seaside Equity Partners has closed two new funds - Fund III and Navigator I, with combined commitments exceeding $720m, marking a major step in its strategy to invest in lower middle market companies.
The capital was secured from a broad mix of investors, including pensions, endowments, insurance firms, consultants, and family offices, underscoring strong institutional confidence in Seaside’s growth-focused investment approach.
EMEA
PAI Partners, a private equity firm, completed the acquisition of majority stake in Alvest, a provider of products and services in the aviation and airport ground support solutions, from Ardian, a private investment house, according to press releases. Financial terms were not disclosed.
Alvest was advised by Morgan Stanley. PAI Partners was advised by Credit Agricol, Ernst & Young, Rothschild & Co, Willkie Farr & Gallagher (led by Christophe Garaud and Gregory de Saxce), Greenbrook (led by Peter Hewer), Havas and ICR (led by Brian Ruby). Ardian was advised by Linklaters (led by Florent Mazeron), according to press releases and MergerLinks data.
SK Capital Partners, an investment firm, agreed to acquire the medical division from LISI Group, a global industrial group specializing in high value-added assembly solutions and components, according to press releases. Financial terms were not disclosed.
SK Capital Partners is advised by Jefferies & Company, Piper Sandler, Sycomore Corporate Finance, Kirkland & Ellis and Gregory FCA (led by Jeremy Milner). Debt financing is provided by Partners Group. LISI Group is advised by Rothschild & Co and Dentons, according to press releases.
Blackstone has increased its offer to acquire Warehouse REIT, outbidding the proposal made last month by Tritax Big Box REIT.
The alternative asset manager is now offering 113.4 pence per share in cash, valuing the UK property firm at £489m ($666m). The revised bid represents a 3.6% premium over Tritax’s previous cash-and-share offer, which had received backing from Warehouse’s board.
Warehouse REIT is adivsed by Jefferies & Company, Peel Hunt, Reed Smith and FTI Consulting. Blackstone is advised by Deutsche Numis, Rothschild & Co and Simpson Thacher & Bartlett, according to press releases.
Rhône, a middle-market private equity firm, agreed to acquire Invacare, a global manufacturer and distributor of non-acute medical equipment, and Direct Healthcare Group, a medical devices manufacturer, according to press releases. Financial terms were not disclosed.
Invacare is advised by Moelis & Co. Direct Healthcare Group is advised by Houlihan Lokey. Rhône is advised by Jefferies & Company and Brunswick Group. ARCHIMED is advised by Lanchner Communications, according to press releases.
Ulta Beauty, a beauty retailer, agreed to acquire Space NK, a British retailer specializing in personal care and beauty products, from Manzanita Capital, a private equity firm, according to press releases. Financial terms were not disclosed.
Space NK is advised by Raymond James and Bryan Cave Leighton Paisner (BCLP). Ulta Beauty is advised by Goldman Sachs and Latham & Watkins (led by Ed Barnett and Linzi Thomas). Manzanita Capital is advised by Bryan Cave Leighton Paisner (BCLP), according to press releases and MergerLinks data.
CRC Group, a brokerage and underwriting specialty insurance distributor, agreed to acquire Atrium Underwriting, a premier underwriting business at Lloyd’s that manages Syndicate 609 and writes specialty insurance and reinsurance across property, casualty, and specialty business groups, from Stone Point Capital, an alternative investment management firm, according to press releases. Financial terms were not disclosed.
CRC Group is advised by Insurance Advisory Partners, Norton Rose Fulbright and Simpson Thacher & Bartlett (led by Geoffrey Bailhache). Atrium is advised by Evercore and Debevoise & Plimpton (led by Edward Drew Dutton), according to press releases.
Centre Testing International Group, a third-party testing, inspection, and certification provider, agreed to acquire Safety SA, a South African testing, inspection, certification, and training provider, from Carlyle, a private equity firm, according to press releases. Financial terms were not disclosed.
Carlyle is advised by DC Advisory, according to press releases and MergerLinks data.
Inspired Pet Nutrition, a pet food manufacturer, agreed to acquire Sopral, a French specialist in dog, cat, and horse nutrition, from CapVest and Parquest, a private equity firms, according to press releases. Financial terms were not disclosed.
Blackstone explores potential joint bid for SFR. ( Bloomberg)
Blackstone is exploring the possibility of joining forces with other bidders to acquire French telecom operator SFR, owned by Altice France. The potential sale could value the company at up to €30bn ($35bn), including debt.
The New York-based investment firm has held early talks with possible partners, including SFR's industry rivals, and is likely to participate in the deal as a co-investor to help finance the acquisition.
Historically, Blackstone has worked with Citigroup, Morgan Stanley, Simpson Thacher & Bartlett and Kirkland & Ellis, according to MergerLinks data.
PE firms circle Astorg’s €5bn fund services firm IQ-EQ. ( Bloomberg)
Blackstone, Permira, Carlyle Group, and EQT are among the private equity firms weighing bids for IQ-EQ, a fund services provider backed by Astorg. The Luxembourg-based firm could be valued at around €5bn ($5.9bn) in what is shaping up to be one of the hottest auctions in Europe this year.
The sale of IQ-EQ reflects ongoing consolidation trends in the fund administration sector, with interest driven by growing demand for back-office outsourcing and regulatory services. A successful transaction would mark a significant exit for Astorg and could reposition the company under new ownership.
Banks begin pitching $4.3bn debt package for Boots buyout. ( Bloomberg)
JP Morgan and UBS have started early pricing discussions with investors for a $4.3bn debt package to support Sycamore Partners’ buyout of UK pharmacy chain Boots.
The financing is being pre-marketed in parts, comprising $2.3bn in term loans and $2bn in secured bonds across various denominations.
Banks line up £1.75bn of debt funding for KKR Spectris bid. ( Bloomberg)
JP Morgan is among a consortium of lenders arranging £1.75bn ($2.38bn) in debt financing to support KKR’s acquisition of Spectris, a UK-based maker of precision testing equipment and software. Other participants include Jefferies, Crédit Agricole, and KKR Capital Markets.
KKR’s winning bid values Spectris at £4.1bn ($5.57bn), surpassing an earlier £3.8bn ($5.16bn) offer from a rival consortium led by Advent International, highlighting strong interest in high-precision instrumentation businesses.
Pretium walks away from UK residential deal talks for Sigma. ( Bloomberg)
Pretium has reportedly withdrawn from a planned acquisition that would have marked its debut in the UK’s single-family rental housing sector.
The US-based alternative asset manager had been in talks to buy Sigma Capital Group from Oxford Properties Group and PineBridge Benson Elliot, in a deal valued at just over £1bn ($1.4bn).
Abu Dhabi sovereign fund in talks to buy $100m Revolut stake. ( Sky News)
Mubadala, the UAE sovereign wealth fund, is in advanced talks to acquire a $100m stake in Revolut, the digital banking and payments firm now valued at over £33bn ($45bn).
This would add to Mubadala’s existing, smaller stake acquired in a previous secondary deal. The fund reportedly wants to further expand its holdings, signaling strong confidence in Revolut’s long-term valuation potential.
Historically, Mubadala has worked with Rothschild & Co, Citigroup, White & Case and Clifford Chance, according to MergerLinks data.
Brookfield explores acquisition of Sofitel hotel on Dubai’s Palm Jumeirah. (Bloomberg)
Brookfield Asset Management is in talks to acquire the Sofitel hotel on Dubai’s Palm Jumeirah, in a deal that could mark its latest foray into the region’s luxury hospitality sector. The beachfront property is being marketed by Investment Corporation of Dubai, the emirate’s sovereign wealth fund.
The Sofitel Dubai The Palm is a 5-star resort with more than 500 rooms and suites, positioned as a key beachfront destination in one of the city’s premier real estate zones. The potential sale comes amid growing global investor interest in Middle East hospitality assets.
Coller Capital raises $6.8bn for latest credit secondary vehicle. ( StreetDealAsia)
Coller Capital has secured $6.8bn for its latest credit secondary fund, Coller Credit Opportunities II, significantly surpassing its first credit fund of $1.4bn raised in 2022. The new vehicle is among the largest dedicated credit secondaries funds in the market, underlining investor demand in this niche of private credit.
The firm’s credit platform spans various structures, including commingled funds, co-investments, separately managed accounts, and perpetual funds focused on credit. Coller’s latest raise strengthens its position as a key player in the private market secondaries space.
BlueFive Capital raises $2bn for Gulf-focused private equity fund. ( Bloomberg)
BlueFive Capital has raised $2bn for a new private equity fund, making it one of the largest vehicles launched by a Gulf-based investor.
Established in Abu Dhabi by a former Investcorp executive, the fund will focus on growth opportunities across the six Gulf Cooperation Council countries, with planned investments in healthcare, technology, hospitality, aviation, and industrial sectors.
APAC
Temasek-backed Manipal Hospitals, a company specializing in multi-specialty healthcare services, agreed to acquire Sahyadri Hospitals Group, a company focused on hospital and medical services in India, from Ontario Teachers' Pension Plan, a capital market company, according to press releases. Financial terms were not disclosed.
Ontario Teachers' Pension Plan is advised by Alvarez & Marsal, Jefferies & Company, Latham & Watkins, Trilegal (led by Sanjam Arora and Vishal Sagar) and Ernst & Young, according to press releases.
Starbucks China stake draws bids valuing unit up to $10bn. ( CNBC)
Starbucks’ China operations have reportedly received offers from major private equity firms at valuations reaching as high as $10bn. Bidders include Asia-based Centurium Capital and Hillhouse Capital, as well as US investment groups Carlyle and KKR. The deal would represent a significant move to unlock value in the coffee chain’s second-largest market.
While no transaction has been finalized, the interest highlights investors’ confidence in China’s long-term consumption growth and Starbucks' local positioning. Starbucks has not commented on the report.
Kuwait wealth fund sells $3.4bn stake in AIA Group. (Bloomberg)
The Kuwait Investment Authority has sold a HKD26.8bn ($3.4bn) stake in AIA Group, representing 3.7% of the Hong Kong-based insurer. The stake, amounting to 394m shares.
KIA has been an investor in AIA since its 2010 IPO and is trimming exposure amid portfolio rebalancing efforts. Despite the sale, AIA shares remained resilient, reflecting strong investor confidence in the insurer’s performance and exposure to Asia’s growing middle class. Morgan Stanley acted as the sole bookrunner on the block trade.
ADIA and OTPP explore sale of SG-based Equis Development. (Bloomberg)
The Abu Dhabi Investment Authority and Ontario Teachers’ Pension Plan Board are exploring a sale of Equis Development, a renewable energy developer headquartered in Singapore. Both entities have engaged a financial advisor to evaluate the transaction, which could value Equis at over $2bn.
The deal remains in preliminary stages, with no final decision made. If successful, it would mark a major exit in Asia’s renewables sector and reflect continued institutional interest in monetizing clean energy investments.
CVC Capital Partners, Permira, and EQT are in discussions to acquire a controlling stake in Nuvama Wealth Management, formerly known as Edelweiss Wealth Management, in a transaction that could value the firm at up to $1.6bn.
The talks center around the 54.78% stake held by Asia-Pacific-focused investment firm PAG, which has controlled Nuvama since a $325m investment in 2021. The potential buyout has drawn broad interest, with HSBC also competing for the stake.
Stonepeak in talks to invest in Princeton. ( Bloomberg)
Stonepeak, a US-based infrastructure investment firm, is currently in discussions to invest in Singapore-headquartered data center operator Princeton Digital Group.
Stonepeak is exploring a structured equity investment that could exceed $1bn. The specifics of the deal, including the total amount and structure, are still subject to change.
Historically, Stonepeak has worked with Barclays, RBC Capital Markets, Simpson Thacher & Bartlett and Sidley Austin, according to MergerLinks data.
|
