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AMERICAS

FTV Capital and Lightyear Capital completes the investment in ProfitSolv.

FTV Capital, a growth equity firm, and Lightyear Capital, a private equity firm, completed the investment in ProfitSolv, a provider of practice management software and payments for legal, accounting and professional services firms, according to press releases. Financial terms were not disclosed.

Lightyear Capital was advised by Raymond James, William Blair & Co, Davis Polk & Wardwell and ThroughCo Communications (led by Elliot Sloane). FTV Capital was advised by Guggenheim Partners, Skadden Arps Slate Meagher & Flom (led by Blair Thetford) and Prosek Partners, according to press releases and MergerLinks data.

ProCap BTC to go public via a SPAC merger with Columbus Circle Capital.

ProCap BTC, a financial services firm at the intersection of bitcoin and traditional finance, agreed to go public via a SPAC merger with Columbus Circle Capital, a blank check company, according to press releases. Financial terms were not disclosed.

ProCap is advised by Clear Street, Cohen & Company Capital Markets and Reed Smith. Financial advisors are advised by Morgan Lewis & Bockius. Columbus Circle Capital is advised by Ellenoff Grossman & Schole, Ogier and Eden Communications (led by Ebony Lewkovitz), according to press releases.

TSG Consumer Partners completes the investment in DUDE Wipes.

TSG Consumer Partners, a private equity firm focused on the consumer sector, completed the investment in DUDE Wipes, an innovative personal hygiene company recognized for its category-disrupting flushable wipes, according to press releases. Financial terms were not disclosed.

DUDE Wipes wad advised by Harris Williams & Co, Barnes & Thornburg and Autumn Communications (led by Lauren St. Clair). TSG Consumer Partners was advised by Lazard, Ropes & Gray and Prosek Partners, according to press releases.

First Financial to acquire Westfield Bancorp.

First Financial, a regional bank headquartered in Cincinnati, Ohio, agreed to acquire Westfield Bancorp, a financial institution in Northeast Ohio, according to press releases. Financial terms were not disclosed.

Westfield Bancorp is advised by Keefe Bruyette & Woods and Squire Patton Boggs (led by Jim Barresi). First Financial is advised by Janney Montgomery Scott and Amundsen Davis, according to press releases.

Pritzker Private Capital-backed C.H. Guenther completes the acquisition of Fresca Mexican Food.

Pritzker Private Capital-backed C.H. Guenther, a commercial baking and food manufacturing business, completed the acquisition of Fresca Mexican Food, a manufacturer of flour tortillas, corn tortillas and tortilla chips, according to press releases. Financial terms were not disclosed.

Pritzker Private Capital was advised by H/Advisors Abernathy (led by Dan Scorpio and Mallory Griffin), according to press releases.

Fusion Capital Partners-backed Tavoron completes the acquisition of Arkansas Industrial Machinery.

Fusion Capital Partners-backed Tavoron, a provider of industrial automation components, systems and services, completed the acquisition of Arkansas Industrial Machinery, a distributor of high-quality industrial air, gas, and fluid handling equipment, according to press releases. Financial terms were not disclosed.

Fusion Capital Partners was advised by Profile Advisors (led by Mike Geller), according to press releases.

Accel and Andreessen Horowitz led a $131m Series C round in Decagon.

Accel and Andreessen Horowitz, venture capital firms, led a $131m Series C round in Decagon, an AI customer support agents company, with participation from A*, Bain Capital Ventures, BOND, Avra, Forerunner and Ribbit Capital, according to press releases.

Decagon was advised by SMT Communications (led by Sophia (Xepoleas) Tavakol), according to press releases.

A healthcare investor led a $100m Series D round in Neuron23.

A healthcare investor led a $100m Series D round in Neuron23, a clinical-stage biotechnology company, with participation from Westlake Village BioPartners, SoftBank Vision Fund 2, Redmile Group, Blue Owl, Kleiner Perkins, HBM Healthcare Investments, and Acorn Bioventures, according to press releases.

Neuron23 was advised by 1AB (led by Josephine (Josie) Butler), according to press releases.

Casa del Fuego completes the acquisition of Digital Global Systems for $5bn.

Casa del Fuego, a strategic investment and asset management firm, completed the acquisition of Digital Global Systems, a patented spectrum optimization technologies and AI-driven spectrum management company, for $5bn, according to press releases.

Omnicom and Interpublic clear FTC antitrust review. (Press Release)

Omnicom and Interpublic announced that the US Federal Trade Commission has completed its antitrust review of Omnicom’s proposed acquisition of Interpublic.

The FTC also granted early termination of the mandatory waiting period under antitrust law. The consent order is now open for a 30-day public comment period before final approval. The companies expect to complete the merger in the second half of the year.

Northern Trust says it is fully committed to remaining independent. (Reuters)

Northern Trust has firmly stated its intention to stay independent, following reports that Bank of New York Mellon had recently shown interest in a potential merger.

In response, a Northern Trust spokesperson emphasized the company's long-standing commitment to independence and delivering long-term value to its stakeholders, continuing a tradition upheld for 135 years.

Wealthfront announces confidential submission for IPO. (Press Release)

Wealthfront has confidentially filed a draft registration statement on Form S-1 with the Securities and Exchange Commission for a planned initial public offering of its common stock.

Details such as the number of shares and the expected price range have not been finalized. The IPO will proceed after the SEC's review is complete, depending on market conditions and other factors.

Goldman names Aek Shyam head of M&A in global real estate group. (Reuters)

Goldman Sachs has named Aekloveya Shyam as the new head of mergers and acquisitions for its Global Real Estate Group.

Shyam previously worked as a managing director in the Healthcare Group within the Investment Banking division, where he was involved in major multi-billion dollar deals across the US, Europe and Asia.

EMEA

Gemspring Capital-backed Shrieve Chemical completes the acquisition of Carbon Group.

Gemspring Capital-backed Shrieve Chemical, a chemicals distributor, completed the acquisition of Carbon Group, a full-service distributor of specialty chemicals, food ingredients, pharmaceutical raw materials, and agriculture products, according to press releases. Financial terms were not disclosed.

Carbon Group was advised by Grant Thornton, KPMG and RDJ. Shrieve Chemical was advised by Greenhill & Co and Paul Weiss Rifkind Wharton & Garrison (led by Christopher Sullivan and Oliver Marcuse), according to press releases and MergerLinks data.

Apax Partners-backed EcoOnline completes the acquisition of D4H.

Apax Partners-backed EcoOnline, a company that delivers innovative environment, health and safety, chemical management and ESG/sustainability technology solutions, completed the acquisition of D4H, a cloud platform for emergency response, according to press releases. Financial terms were not disclosed.

D4H was advised by DC Advisory (led by Justin Pursell), according to MergerLinks data.

Hunting completes the acquisition of Flexible Engineered Solutions for £50m.

Hunting, a precision engineering group, completed the acquisition of Flexible Engineered Solutions, an oil field equipment supplier, for £50m ($66m), according to press releases.

Hunting was advised by Sodali & Co (led by James White), according to press releases.

Atomico led a $135m Series B round in PhysicsX.

Atomico, a venture capital firm, led a $135m Series B round in PhysicsX, a London-based company accelerating industrial innovation with AI, with participation from Temasek, Siemens, Applied Materials, July Fund, General Catalyst, NGP, Radius Capital, Standard Investments, and Allen & Co, according to press releases.

Eclipse led a $125m Series B round in ForSight Robotics.

Eclipse, a venture firm, led a $125m Series B round in ForSight Robotics, an ophthalmic robotic surgery company, according to press releases.

Amazon to invest £40bn in UK with more warehouses and thousands of new jobs. (Sky News)

Amazon has announced plans to invest £40bn ($54bn) in the UK over the next three years, creating thousands of jobs and opening four new warehouses.

Amazon, already employing about 75k people in the UK, will also expand its London headquarters, upgrade its delivery network, and invest in data centres and Bray Film Studios in Berkshire.

BBVA warns it could pull out of Sabadell bid if conditions are too harsh. (Reuters)

BBVA may withdraw its €12bn ($14bn) bid for Sabadell if the Spanish government imposes strict conditions or requires the sale of Sabadell’s British unit, TSB.

Sabadell has received interest in TSB, possibly as a defense against BBVA’s hostile offer. BBVA’s Chairman Carlos Torres emphasized that any sale must comply with Spanish takeover laws.

CityFibre set to secure close to £2bn for fiber rollout. (Bloomberg)

CityFibre is close to securing around £2bn ($2.7bn) in new funding to support its operations and further expansion.

The financing package, backed by existing investors and lenders, includes approximately £500m ($673m) in equity and an additional “accordion” facility, allowing access to another £500m ($673m) if specific conditions are met. The remaining £1bn ($1.35bn) will come from debt financing.

Private equity firm Jadwa said to put Saudi pharma unit on sale. (Bloomberg)

Jadwa Investment is planning to sell its 51% stake in UniPharma, one of Saudi Arabia's largest pharmaceutical companies, offering investors access to a rapidly expanding sector of the country's economy.

The private equity firm, which purchased the stake in 2020, is working with Egypt’s EFG's investment banking division on the sale and is aiming for a valuation of around SAR1bn ($267m).

Historically, Jadwa Investment has worked with Ernst & Young, HSBC and Gibson Dunn & Crutcher, according to MergerLinks data.

Banque Havilland's Monaco unit nears sale to fintech investors. (Bloomberg)

Three investors are working to revive the Monaco branch of Banque Havilland, nearly a year after the bank lost its European license due to issues with internal controls.

The effort involves Jason Bates, co-founder of Monzo and Starling Bank, Ukrainian tech investor Maksym Koretskiy, and Scottish billionaire Jim McColl.

Smith & Williamson tables bid for deals unit of investment bank Cavendish. (Sky News)

Smith & Williamson, a private equity-backed professional services firm, recently made an offer to acquire the mergers and acquisitions division of London-listed investment bank Cavendish, which would have led to the bank's breakup. The offer, reportedly rejected, could attract interest from other potential buyers.

The bid for Cavendish’s deals unit highlights continued strength in the M&A advisory market, despite broader sector difficulties. Smith & Williamson, now operating independently after being spun off from Evelyn Partners and rebranded by Apax Partners, is aiming to expand its presence in this space.

Italy’s Monte dei Paschi sale sparks EU scrutiny after global investors sidelined. (FT)

The European Commission is investigating Italy’s sale of a 15% stake in Monte dei Paschi di Siena over concerns that major investors were unfairly excluded.

The sale, managed by Banca Akros, went to a small, selected group. Milan prosecutors are also examining the deal. Banca Akros claims the process was fair and compliant.

Military satellite maker Iceye explores IPO as sales on track to double. (Bloomberg)

A Finnish satellite company, Iceye, which is gaining from the surge in European military spending, anticipates doubling its revenue in 2025 to more than €200m ($230m).

The company is also considering a potential initial public offering, that could happen as soon as next year.

Saudi tech firm Ejada to reapply for IPO after approval expires. (Bloomberg)

Saudi Arabian tech services company Ejada Systems plans to resubmit its application for an initial public offering to the kingdom’s Capital Markets Authority.

Although the CMA approved Ejada’s IPO in December, the approval has expired after the six-month listing window passed. The company intends to provide updated financial information in its new application.

Project A launches €325m fund to fuel Europe's earliest-stage tech. (Press Release)

Project A, a European tech venture capital firm, has closed its oversubscribed €325m ($374m) Fund V, bringing its total assets under management to €1.2bn ($1.4bn).

The fund, raised quickly in just four months, will support startups at the idea, pre-seed, and seed stages. It attracted strong backing from both new and existing investors, including institutional backers, family offices, and strategic partners from Europe and the US.

APAC

Apollo completes a $750m investment in Adani-backed Mumbai International Airport.

Apollo, a global alternative investment management firm, completed a $750m investment in Adani-backed Mumbai International Airport, an international airport, according to press releases.

Mumbai International Airport was advised by Allen & Overy and Cyril Amarchand Mangaldas. Apollo was advised by Khaitan & Co and Milbank, according to press releases.

Lingong Group to acquire a 70% stake in SDLG from Volvo for SEK8bn.

Lingong Group, a Chinese manufacturer specializing in construction and mining equipment, agreed to acquire a 70% stake in SDLG, an international construction equipment manufacturer and service provider, from Volvo, a manufacturer of trucks, buses and construction machinery, for SEK8bn ($826m), according to press releases.

CATL and Puquan Capital led a $153m round in Galbot.

CATL, a battery manufacturer and technology company, and Puquan Capital, a private equity firm, led a $153m round in Galbot, a general-purpose humanoid robots company, with participation from China Development Bank and Qiming Venture Partners, according to press releases.

BOND led a $100m Series D round in Halter.

BOND, a global technology investment firm, led a $100m Series D round in Halter, a technology company increasing productivity on US cattle ranches with its virtual fencing and animal management system, with participation from NewView, Bessemer Venture Partners, DCVC, Blackbird, Icehouse Ventures and Promus Ventures, according to press releases.

Rio Tinto and Hancock Prospecting to invest $1.6bn in Hope Downs 2 project. (Press Release)

Rio Tinto and Hancock Prospecting will invest $1.61bn to develop the Hope Downs 2 iron ore project in Western Australia’s Pilbara region.

The project, approved by state and federal authorities, will have a combined annual production capacity of 31m tonnes and is set to begin operations in 2027. Hope Downs 2 is part of Rio Tinto’s broader strategy to maintain strong iron ore production in the Pilbara.

Starbucks says it is not currently considering a full sale of its China operations. (Reuters)

Starbucks has denied plans to fully sell its China operations, though it has held preliminary talks with potential buyers. The company is considering selling either a controlling or minority stake but has not made a final decision.

The move comes as Starbucks' market share in China has dropped from 34% in 2019 to 14% in 2024, due to rising competition from lower-priced local rivals.

Virgin Australia begins trading on the ASX. (Press Release)

Virgin Australia, a Bain Capital-backed Australian airline, has officially listed on the Australian Securities Exchange, following a successful offering period with strong demand from both local and international investors.

The AUD685m ($440m) IPO represents 30.2% of the company’s shares, with the remaining shares held by existing owners such as Bain Capital, Qatar Airways, Virgin Group, and Queensland Investment Corporation.

Tata Capital is said to get SEBI approval for $2bn IPO. (Bloomberg)

Tata Capital has secured approval from India’s market regulator to move forward with its planned initial public offering, which could raise around $2bn and potentially become the country’s largest listing this year.

Parent company Tata Group is targeting a valuation of up to $11bn for the business and may launch the IPO as soon as August.

Gold miner Shanjin picks banks for Hong Kong listing. (Bloomberg)

Shanjin International Gold has selected banks to support its planned listing in Hong Kong, aiming to capitalize on strong gold prices.

The company, a subsidiary of state-owned Shandong Gold Mining, is collaborating with Citic Securities, China International Capital, and UBS for the upcoming share offering.

MMC Ports is said to file for biggest Malaysian IPO since 2012. (Bloomberg)

MMC Port is moving forward with its planned stock market debut in Malaysia, which could become Kuala Lumpur’s largest IPO in over ten years.

The company, owned by Malaysian billionaire Syed Mokhtar Al-Bukhary, has confidentially submitted listing documents and is waiting for regulatory approval to release a draft prospectus.

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