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
Altaline completes an investment in Risk & Regulatory Consulting.
Altaline, a specialist private equity firm, completed an investment in Risk & Regulatory Consulting, an independent professional services firm providing financial/IT analysis, market conduct examination, actuarial, insolvency, market studies, and investment analysis services to insurance regulators and related organizations, according to press releases. Financial terms were not disclosed.
Altaline Capital Management is advised by RubinBrown Corporate Finance, Oliver Wyman, Align Collaborate, Apogem Capital, Citizens M&A, Howden, BakerHostetler, Calfee Halter & Griswold and Crosslake Technologies, according to press releases.
USA Rare Earth completes the acquisition of Serra Verde from Denham Capital, Vision Blue Resources and The Energy & Minerals Group for $2.8bn.
USA Rare Earth, a supplier of rare earth element magnets for green energy and technology, completed the acquisition of Serra Verde, a Brazilian company specializing in the development and production of rare earth elements, from Denham Capital, Vision Blue Resources and The Energy & Minerals Group, three investors, for $2.8bn, according to press releases.
Point 41 Capital Partners, a middle-market private equity firm, completed the acquisition of Safe-Way Garage Doors, a manufacturer and distributor of garage doors, from CW Industrial Partners, a private equity firm, according to press releases. Financial terms were not disclosed.
Point 41 Capital Partners was advised by William Blair & Co, K&L Gates, Kirkland & Ellis and Klehr Harrison Harvey Branzburg. Safe-Way Garage Doors was advised by KeyBanc Capital Markets and Calfee Halter & Griswold. CW Industrial Partners was advised by Calfee Halter & Griswold, according to press releases.
CVC to invest in Unitex Textile Services.
CVC, a global investment firm, agreed to invest in Unitex Textile Services, a provider of outsourced healthcare textile management services, according to press releases. Financial terms were not disclosed.
Unitex is advised by JP Morgan and McDermott Will & Schulte. CVC is advised by Citizens M&A, Stephens and White & Case. Debt financing is provided by JP Morgan. Debt provider is advised by Latham & Watkins (led by Jesse Sheff), according to MergerLinks data and press releases.
GE Aerospace, an American aircraft engine supplier, agreed to acquire Consolidated Precision Products, a manufacturer of engineered cast metal components intended for the global aerospace and defense industries, from Warburg Pincus and Berkshire Partners, private equity companies, for $11.75bn, according to press releases.
GE Aerospace is advised by Evercore, PJT Partners and Paul Weiss Rifkind Wharton & Garrison (led by Michael Darby, Steven Williams and Scott Barshay). Consolidated Precision Products is advised by Guggenheim Partners, Morgan Stanley (led by Tom Miles) and Cleary Gottlieb Steen & Hamilton, according to press releases and MergerLinks data.
WaFd Bank, a commercial bank providing retail and commercial banking services, agreed to merge with EverBank, a provider of retail and commercial banking services, in a $3.9bn deal. Following the transaction, EverBank investors, including Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street, Bayview Asset Management and TIAA, will own approximately 59.2% of the combined company, while WaFd shareholders will own approximately 40.8%, according to press releases.
EverBank is advised by JP Morgan, Piper Sandler and Wachtell Lipton Rosen & Katz. WaFd Bank is advised by Keefe Bruyette & Woods and Simpson Thacher & Bartlett, according to press releases.
Truelink Capital, a private equity firm, completed the acquisition of JT Thorpe, a provider of specialty industrial maintenance and thermal management services, from H.I.G. Capital, an investment firm. Financial terms were not disclosed.
JT Thorpe was advised by Goldman Sachs, Harris Williams & Co, and McDermott Will & Schulte. H.I.G. Capital was advised by McDermott Will & Schulte. Debt providers were advised by Latham & Watkins (led by John A. Lister, Stelios Saffos, and Jesse Sheff), according to press releases and MergerLinks data.
Apax Partners, a private equity firm, completed the acquisition of NextGen Security, an end-to-end integrator of electronic security systems, from Dunes Point Capital, a private investment firm, according to press releases. Financial terms were not disclosed.
Dunes Point Capital was advised by Alvarez & Marsal, Raymond James, William Blair & Co and Polsinelli, according to press releases.
Northampton Capital, an alternative asset management firm, and Provident Data Centers, a data center developer division of Provident, to form a joint venture, according to press releases. Financial terms were not disclosed.
Northampton Capital is advised by Simpson Thacher & Bartlett (led by Gabriel Silva) and Profile Advisors (led by Mike Geller). Provident Data Centers is advised by Citizens M&A and Haynes and Boone, according to MergerLinks data and press releases.
Oaktree, an asset management firm, and StepStone Group, an investment management firm, completed the investment in System One, a provider of specialized, highly technical outsourced services and workforce solutions to end markets with critical infrastructure, according to press releases. Financial terms were not disclosed.
System One was advised by Moelis & Co and Kirkland & Ellis. StepStone was advised by Debevoise & Plimpton, according to MergerLinks data and press releases.
HIG Capital, an alternative asset investment firm, completed the investment in Click Here Digital, a full-service digital marketing and advertising agency, according to press releases. Financial terms were not disclosed.
HIG Capitalwas advised by Stephens and TD Securities. Click Here Digital was advised by Canaccord Genuity, according to press releases.
Bregal Sagemount, a growth-focused private capital firm, completed the investment in A-Rent, a provider of electrical test equipment rentals, according to press releases. Financial terms were not disclosed.
Bregal Sagemount was advised by Goodwin and Kirkland & Ellis. A-Rent was advised by Lincoln International, according to press releases.
Saothair Capital Partners, a private equity firm, completed the acquisition of North American Breweries, a US brewer with a portfolio of regional beverage brands, from Distribuidora La Florida, a Beverage distribution company, according to press releases. Financial terms were not disclosed.
Saothair Capital Partners was advised by Jenner & Block. Heineken was advised by Bank of America and Sidley Austin, according to press releases.
The Sterling Group-backed Overhead Garage Door, a provider of garage and overhead doors and dock equipment for residential and commercial customers, completed the acquisition of Madisonville Garage Doors, Hall's Garage Doors and Compaan Garage Doors, providers ofgarage doors and related services, according to press releases. Financial terms were not disclosed.
Overhead Garage Door was advised by HamptonRock Partners, Kelly Hart & Hallman and McDermott Will & Schulte, according to press releases.
CBRE Investment, a real assets investment manager, completed the acquisition of Tenet Equity, a provider of real estate financings, from Cerberus, an alternative investment firm, for $1.6bn, according to press releases.
Cerberus was advised by Evercore and Kirkland & Ellis, according to MergerLinks data and press releases.
Banneker Partners-backed Fabric Data, a company that offers data solutions for the entertainment industry, agreed to merge with TMT Insights, a provider of media supply‑chain orchestration software and professional services, according to press releases. Financial terms were not disclosed.
Fabric Data is advised by Bubble Agency, according to press releases.
Andreessen Horowitz and Accel, two venture capital firms, led a $2bn+ funding round in Cognition, an artificial intelligence company, with participation from Founders Fund, General Catalyst, Avenir, Benchmark, Bessemer, Kleiner Perkins, Greylock, Lightspeed, Altimeter, Bond Capital, Meritech, Atreides, Valor, T. Rowe Price, Lux, 8VC, D1, 137 Ventures, DST, Positive Sum, HOF, Soma, BoxGroup, Battery, Ribbit, Swish, Stripes, Definition, Hanabi, Journey, Bain Capital Ventures, Layer Global, A* Capital, Alpha Wave, Alkeon, and Diffusion, according to press releases.
Cognition was advised by Latham & Watkins (led by Seth Gottlieb), according to MergerLinks data.
Google Ventures, a venture capital firm, led a $275m Series F round in Encoded Therapeutics, a developer of precision gene therapies, with participation from ARCH Venture Partners, Braidwell, Farallon Capital Management, Illumina Ventures, Invus, Janus Henderson Investors, Matrix Capital Management, Nolan Capital, RTW Investments, SoftBank Vision Fund 2 and Venrock, according to press releases.
Encoded Therapeutics was advised by Red House Consulting (led by Lori Rosen), according to press releases.
Windsong Global-backed Belle Brands, a consumer-focused beauty and personal care platform, completed the acquisition of Vegamour, a provider of plant-powered, science-positioned hair and scalp care products and oral supplements direct to consumers, according to press releases. Financial terms were not disclosed.
Point72 Ventures and Spark Capital, venture capital firms, led a $1bn Series E round in Stoke Space, an aerospace company, with participation from General Innovation, Glade Brook Capital, US Innovation Technology, Washington Harbour Partners, Woven Capital, Y Combinator and other new and existing investors, according to press releases.
Diffusion and Lightspeed Venture Partners, venture capital firms, led a $550M funding round in Harvey, a generative AI company purpose-built for the legal and professional services industries, with participation from Sequoia, Kleiner Perkins, a16z, Coatue, Conviction, Elad Gil, Evantic, GIC, Goldman Sachs Alternatives, Verified Capital, WNDR, Diffusion, Lightspeed, Sapphire Ventures and Whale Rock, according to press releases.
A consortium of investors, including Atreides Management, Valor Equity Partners and CapitalG, led a $275m Series C round in Celero Communications, a developer of advanced coherent DSP solutions, with participation from Sutter Hill Ventures and Maverick Silicon, according to press releases.
Bain Capital Ventures, the venture capital division within Bain Capital, led a $150m Series C round in Forus, a health technology infrastructure company, with participation from Thrive Capital, General Catalyst, Accel, Redpoint, BoxGroup, Pear VC, Avra, Human Capital, Neo, Vast Ventures and SV Angel, according to press releases.
Blackstone explores sale of ZO Skin Health. (Reuters)
Blackstone is exploring the sale of medical-grade skincare company ZO Skin Health in a transaction that could value the business at around $2bn.
The investment firm is working with Citigroup and Raymond James on the potential sale. The process remains at an early stage.
Buyout firm CVC explores $2bn sale of Dr Teal's parent company. ( Reuters)
CVC Capital Partners is exploring the sale of personal care platform Arthea, owner of brands including Dr. Teal’s and Cantu, in a transaction that could value the business at around $2bn.
CVC is working with Moelis and William Blair on the potential sale after acquiring the business for $1.43bn in 2017. Discussions remain at an early stage.
Blackstone-backed Kinetik said to weigh potential sale. ( Bloomberg)
Blackstone-backed energy pipeline operator Kinetik Holdings is exploring strategic options, including a potential sale of the company, amid strong dealmaking activity across US energy infrastructure.
Kinetik has engaged advisers to prepare for a potential sale process that could begin within weeks, although the company could ultimately remain independent. The business operates more than 4.6k miles of pipelines and related infrastructure across the Permian Basin.
Blue Owl plans to form a publicly traded data‑center REIT. ( Bloomberg)
Blue Owl Capital is moving to establish a data‑center real estate investment trust and take it public, as companies increasingly tap equity markets to finance artificial‑intelligence infrastructure.
The alternative‑asset manager plans to seed the REIT with roughly $6.5bn of its own data‑center holdings. It would then look to raise additional capital through an initial public offering and subsequent share sales to acquire more facilities and expand the portfolio.
EIG announces final close of Senior Infrastructure Debt Fund VI. ( Press Release)
EIG has closed its Senior Infrastructure Debt Fund VI at $1.9bn, nearly double the size of its predecessor. Together with $2.1bn committed to single-investor vehicles, the strategy has raised $4bn, exceeding its original $3bn target.
The fund will provide senior secured debt across energy and infrastructure, primarily in the US and Europe, and has already committed about $1bn across 16 investments since launching in July 2024.
EMEA
Bridgepoint, a UK-based private equity firm, completed the acquisition of a majority stake in VIPR Solutions, a provider of insurance technology software, from Tenzing, a private equity investment firm, according to press releases. Financial terms were not disclosed.
Bridgepoint was advised by Oliver Wyman, Houlihan Lokey, Interpath, JCL Debt Advisory, Ashurst Perkins Coie, Stephenson Harwood and Ernst & Young. Debt financing was provided by Shawbrook Bank. VIPR Solutions and Tenzing were advised by Strategy&, Continuum Advisory Partners, KPMG, Simmons & Simmons, Ringstone and Riplo, according to press releases.
Toscafund, a British specialist investment firm, Three Hills, a private markets investment firm, and Ares, a global alternative investment manager, agreed to acquire Spire Healthcare, an independent healthcare group, at an enterprise value of £2.3bn ($3.1bn), according to press releases.
Soho Square Capital, an investment firm focused on financing established and growing UK and European SMEs, completed the investment in Strathberry, the Scottish luxury leather goods brand, according to press releases. Financial terms were not disclosed.
Soho Square Capital was advised by Stifel (led by Ashish Burman), Hogan Lovells Cadwalader (led by James Cross), Kepler Communications (led by Charlotte Balbirnie) and Grant Thornton (led by Sofie Morgan). Strathberry was advised by KPMG, Strategy&, Arrowpoint Advisory and Burness Paull, according to press releases and MergerLinks data.
Renaissance Partners, an investment firm specializing in market-leading companies located in Italy and Europe, agreed to acquire De Wave Group, a global marine contractor, from Platinum Equity, an American private equity investment firm that focuses on mergers, acquisitions, and leveraged buyout investments, according to press releases. Financial terms were not disclosed.
Platinum Equity is advised by Clearwater, Lazard, New Deal Advisors, UniCredit, Ropes & Gray, Ernst & Young and PricewaterhouseCoopers. De Wave Group is advised by Boston Consulting Group, according to press releases.
Kester, a private equity firm, completed the investment in Databalance, an IT services and managed infrastructure provider, according to press releases. Financial terms were not disclosed.
Magnesium Capital, an energy transition-focused private equity firm, agreed to acquire a majority stake in TMA, a provider of metering, energy data management, and settlement services, according to press releases. Financial terms were not disclosed. 7
Magnesium Capital is advised by EY Parthenon, Capital Group, Ernst & Young, PricewaterhouseCoopers, Walker Morris and KPMG. Debt financing is provided by Metro Bank, according to press releases.
HOF Capital and BlueFive Capital completes the acquisition of a 55% stake in Bugatti Rimac and Rimac Group from Porsche for €1bn.
HOF Capital, a New York-based investment firm, and BlueFive Capital, an alternative investment firm, completed the acquisition of a 55% stake in Bugatti Rimac and Rimac Group, two car manufacturers, from Porsche, a German automobile manufacturer, for €1bn ($1.2bn), according to press releases.
BlueFive Capital was advised by Rothschild & Co. HOF Capital was advised by Morgan Stanley, Prosek Partners and Davis Polk & Wardwell (led by Cheryl Chan). Porsche was advised by Mediobanca and Linklaters (led by Andreas Zenner, Ralph Wollburg and Rupert Cheyne), according to MergerLinks data and press releases.
Esyasoft, an energy transition technology group, completed the acquisition of Correla, an energy technology and data services company, from NorthEdge, a private equity firm, according to press releases. Financial terms were not disclosed.
Correla was advised by Houlihan Lokey (led by Adrian Reed) and DWF Law (led by Jonathan Robinson). Esyasoft was advised by Andersen Global, Shawbrook Bank (led by Tony Dean) and Clyde & Co, according to MergerLinks data and press releases.
L Catterton, a private equity firm, and WNDR, a venture capital firm, completed the acquisition of a majority stake in Hyrox, a fitness competition provider, from Infront, a sports marketing services provider, according to press releases. Financial terms were not disclosed.
Franklin Templeton-owned Clarion Partners, a global commercial real estate investment firm, agreed to acquire a majority stake in Stoneshield Capital, a private equity firm focused on real estate, infrastructure, and technology-driven investments, according to press releases. Financial terms were not disclosed.
Stoneshield Capital is advised by Goldman Sachs, according to press releases.
Norwest-backed Naviam, a provider of IBM Maximo enterprise asset management solutions, agreed to acquire Cohesive, a solutions provider and systems integrator for IBM Maximo, from Bentley Systems, a US-based software development company, according to press releases. Financial terms were not disclosed.
Main Capital Partners, a private equity firm, completed the acquisition of a majority stake in Orgvue, a provider of strategic workforce management software, according to press releases. Financial terms were not disclosed.
Samsung Electronics led a €3bn Series D round in Mistral AI, with participation from Scaleup Europe Fund, PSG Equity, Advent, BlackRock, the Grand Duchy of Luxembourg, a16z, ASML, Belfius, BNP Paribas CIB, Bpifrance, Carmignac, DST Global, Eurazeo, General Catalyst, Headline, Hillspire, Index Ventures, Korelya Capital, Lightspeed, NVIDIA, Phoenix Court, and Salesforce Ventures, according to press releases.
L Catterton near acquisition of fitness brand Hyrox. ( Bloomberg)
The private equity firm is also considering bringing in global co-investors, including partners from Asia, as Hyrox expands rapidly across markets such as mainland China, Hong Kong, Singapore and Tokyo. An agreement could be reached soon.
Britain’s Gamma to get higher bid from Dutch private equity firm Waterland. ( The Times)
Waterland’s proposal would involve selling two Gamma divisions to UK telecom services provider Giacom after completion. Those businesses accounted for nearly 30% of Gamma’s revenue in 2025, while Gamma has viewed the Epiris offer as simpler and carrying lower execution risk.
Dubai Future District Fund bets on 'width' as it accelerates global GP commitments. ( DealStreetAsia)
Dubai Future District Fund is accelerating commitments to global and local fund managers, targeting roughly one to two new managers each month as it expands its private markets portfolio. The Dubai government-backed investment platform is pursuing a broad network of managers that can contribute both investment returns and strategic value to the emirate’s innovation ecosystem.
The fund is particularly interested in managers with exposure to AI, robotics, mobility, logistics, health and life sciences, fintech and construction technology, while also reserving capital for emerging managers. DFDF is already significantly engaged in Korea and is seeking to deepen its understanding of China as it strengthens investment links between Asia and the Gulf.
CVC hires TPG’s second-in-command Todd Sisitsky as co-CEO. ( Press Release)
CVC Capital Partners has announced a leadership succession plan that will see Todd Sisitsky and current President Peter Rutland become co-CEOs by Q1 2028, when Rob Lucas steps down as CEO. Sisitsky will join CVC from TPG, where he has served as President since 2021.
Lucas, who has led CVC since 2021 and through its 2024 IPO, will remain involved in the firm’s investment activities following the transition. Sisitsky will also chair the CVC Partner Board.
APAC
An investor consortium to invest $1bn in Adani Airports.
An investor consortium including Alpha Wave Global, Premji Invest, Temasek and BlackRock, agreed to invest $1bn in Adani Airports, a private airport operator, according to press releases.
Adani Airports is advised by Ernst & Young, Jefferies & Company, SBI Capital Markets, AZB & Partners, Cyril Amarchand Mangaldas, JSA Advocates & Solicitors and Talwar Thakore & Associates (TT&A), according to MergerLinks data and press releases.
Thoma Bravo, a private equity firm, completed the investment in Tanda, a workforce management, payroll and HR platform for shift-based workers, according to press releases. Financial terms were not disclosed.
Thoma Bravo was advised by Piper Sandler, Allens and Kirkland & Ellis. Tanda was advised by Barclays, Barrenjoey Capital Partners and SBA Law, according to press releases and MergerLinks data.
Mubadala, an Abu Dhabi-based global investor, and Centurium Capital, a private equity firm specializing in investments in the healthcare and consumer sectors in China, agreed to invest $1bn in Luckin Coffee, a China-based coffee chain focused on mass-market coffee retail, according to press releases.
KKR to acquire a minority stake in Avisena Healthcare.
KKR, an investment firm, agreed to acquire a minority stake in Avisena Healthcare, a healthcare services provider, according to press releases. Financial terms were not disclosed.
Blackstone said to weigh buying stake in India shadow lender. ( Bloomberg)
Blackstone is among global investment firms considering buying a stake in Indian non-bank lender IIFL Finance as Fairfax Financial Holdings explores an exit from the company.
Fairfax is weighing the sale of its entire IIFL Finance holding as it moves closer to acquiring IDBI Bank and seeks to comply with regulatory requirements. The plans remain preliminary and could change.
Boyu is said to agree to buy China’s Xiamen Aircraft Leasing. ( Bloomberg)
Asia-focused investment firm Boyu Capital has agreed to acquire Xiamen Aircraft Leasing, with the transaction expected to close by the end of this year.
Xiamen Aircraft Leasing operates across aircraft and engine trading, leasing, sale-and-leaseback transactions and aviation asset management. The agreement follows an earlier sale process that attracted interest from investment firms including Bain Capital.
EQT launches first Asia-focused evergreen PE strategy. ( Press Release)
EQT has launched EQT Nexus Asia, an evergreen strategy providing eligible individual and institutional investors access to its Asia-Pacific private capital platform across large-cap and mid-market investments.
The strategy will target healthcare, services, technology and industrial technology businesses across India, Korea, Japan, Greater China, Southeast Asia, Australia and New Zealand, building on EQT’s approximately $50bn invested in the region since 1997.
Ardian is expanding its private markets business across Asia as institutional and private wealth investors in the region increase allocations to alternative assets. The French investment firm raised $6.7bn from Asia-Pacific investors in 2025, highlighting the region’s growing role as a source of capital for global private market strategies.
The firm is seeking to deepen relationships with sovereign wealth funds, pension funds, insurers and private wealth investors as Asian capital broadens its exposure to private equity and other alternative investments.
KKR-backed fashion chain Musinsa takes step toward Korea IPO. ( Bloomberg)
Musinsa has submitted an application for a preliminary listing review by the Korea Exchange, taking the first formal step toward an IPO on the Kospi.
The KKR-backed South Korean fashion retailer may seek a valuation of up to KRW10tn ($7.44bn), which could make the offering one of the country’s largest IPOs in years.
|
