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AMERICAS
Morgan Stanley Capital, a private equity firm, agreed to acquire Prescott’s, a healthcare focused specialty outsourced clinical engineering services provider, from Atlantic Street Capital, a private equity firm. Financial terms were not disclosed.
Prescott’s is advised by Harris Williams & Co, Houlihan Lokey and Kramer Levin Naftalis & Frankel. MSCP is advised by Alvarez & Marsal, Cascadia Capital and Dechert.
Thompson Street Capital-backed OpenClinica, a provider of eClinical software solutions, completed the acquisition of BuildClinical, a patient recruitment solution for academic researchers. Financial terms were not disclosed.
BuildClinical was advised by Edgemont Partners and Ice Miller. OpenClinica was advised by Stout Capital and Bryan Cave Leighton Paisner (BCLP). Thompson Street was advised by BackBay Communications.
Brookfield Asset Management, a private equity firm, completed a $185m investment in Orthopedic Care Partners, an orthopedic practice management platform.
Orthopedic Care Partners was advised by Moelis & Co and McDermott Will & Emery. Brookfield was advised by Houlihan Lokey and Kirkland & Ellis.
TricorBraun, a global packaging company, agreed to acquire the rigid packaging business from Veritiv, a specialty packaging distribution company. Financial terms were not disclosed.
TricorBraun is advised by Guggenheim Partners and Sullivan & Cromwell. Veritiv is advised by Goldman Sachs and Alston & Bird.
Vance Street Capital, a private equity firm, completed the acquisition of System Seals, a designer and manufacturer of proprietary, high-performance sealing solutions. Financial terms were not disclosed.
System Seals was advised by EdgePoint Capital Advisors and Tucker Ellis. Vance Street was advised by Cooley. Debt financing was provided by BMO Capital Markets.
Kinetik, a midstream energy company, agreed to acquire the midstream gathering systems of Permian Resources, an oil and natural gas company, for $180m.
Permian Resources is advised by Jefferies & Company and Kirkland & Ellis.
Vaisala, a global leader in weather, environmental, and industrial measurements, agreed to acquire the WeatherDesk business of Advent-backed Maxar Intelligence, a provider of comprehensive space solutions and secure, precise, geospatial intelligence, delivering value to government and commercial customers, for $70m.
Advent is advised by Rothschild & Co.
OptConnect-backed Capestone, a provider of managed connectivity solutions and related hardware for IoT applications, completed the acquisition of Next Era, a niche distributor of 4G/5G/mobile networks and critical communications. Financial terms were not disclosed.
OptConnect was advised by Gateway Investor Relations.
CenterGate Capital, a private equity investment firm, completed the investment in Zyloware, a provider of eyewear frames. Financial terms were not disclosed.
Zyloware was advised by Ernst & Young.
Cousins Properties, a fully integrated, self-administered and self-managed real estate investment trust, offered to acquire Sail Tower, an 804k sq.ft. trophy lifestyle office property in downtown Austin, for $522m.
Transcat, an ISO/IEC 17025 accredited calibration & repair services & sells professional electronic test equipment provider, completed the acquisition of Martin Calibration, an ISO-17025 Accredited calibration laboratory network, for $79m.
Cart.com, an unified commerce solutions provider, completed the acquisition of OceanX, the fulfillment operations arm of Guthy-Renker, a direct marketing company. Financial terms were not disclosed.
Japan's Nippon Life to acquire US-based Resolution Life for $8.2bn. (Nikkei)
Nippon Life Insurance plans to acquire US-based Resolution Life Group for $8.2bn, marking the largest acquisition ever by a Japanese insurer.
The deal involves purchasing shares from Blackstone and other stakeholders, making Resolution Life a wholly owned subsidiary by the second half of 2025. Nippon Life intends to finance the acquisition using its cash reserves.
Historically, Nippon Life Insurance has worked with JP Morgan and Mayer Brown, according to MergerLinks data.
Rockefeller's endowment to divest a portion of its private credit funds. (Bloomberg )
Rockefeller University’s $2.7bn endowment is selling a portion of its private credit funds, taking advantage of growing investor demand in the expanding market.
“We are currently engaged in a secondary sale of some private credit funds, and we’re receiving good value,” Paula Volent, Rockefeller University Chief Investment Officer.
Apollo CEO unlocks cash from $431m stake, potential sale possible. ( Bloomberg)
Apollo Global Management CEO Marc Rowan is leveraging $431m worth of the company's stock, with the possibility of selling it, as he seeks to access a portion of his wealth tied to the firm.
Entities affiliated with Rowan engaged in a prepaid variable forward contract for 2.5m shares, amounting to approximately 7% of his stake in the company. This block of stock represents less than 0.5% of Apollo's total outstanding shares.
Apollo aims for $25bn in its flagship private equity fund. (Bloomberg)
Apollo Global Management is preparing to launch its largest-ever private equity fund, targeting $25bn in capital. The fund, expected to debut early next year, would be Apollo’s 11th dedicated private equity fund and its biggest to date.
Apollo aims to surpass its previous attempts, having fallen short of the same target last year and raising just below it in 2017.
EMEA
Nykredit Realkredit, a mortgage credit institution, offered to acquire the remaining 80.6% stake in Spar Nord Bank, a mortgage lender, for $2.8bn.
Nykredit is advised by Deloitte, Davis Polk & Wardwell and Haagen & Møller.
FirstGroup, a UK public transport operator, agreed to acquire RATP Dev Transit London, a UK bus operator, from RATP Développement, a transportation services provider, for £90m ($115m).
FirstGroup is advised by Panmure Liberum, RBC Capital Markets and Brunswick Group.
3i Group, a private equity firm, agreed to acquire a majority stake in WaterWipes, a premium wet wipe brand, for €145m ($153m).
WaterWipes is advised by Rothschild & Co.
Gewiss, an Italian electronics group, agreed to acquire a 75% stake in Beghelli, a lighting equipment manufacturer, in a €108m ($114m) deal.
Gewiss is advised by Rothschild & Co.
CYVN, an Abu Dhabi-based investment vehicle, agreed to acquire McLaren Automotive, a British luxury sports car manufacturer from Bahrain Mumtalakat, the sovereign wealth fund of Bahrain. Financial terms were not disclosed.
Bahrain Mumtalakat is advised by JP Morgan.
TeamViewer, a remote connectivity and digital workplace solutions provider, agreed to acquire 1E, a digital employee experience management tools provider, from Carlyle, a global investment firm, for $720m.
LexisNexis Risk Solutions, a global data and analytics company, agreed to acquire IDVerse, an AI-powered automated document authentication and fraud detection solutions provider. Financial terms were not disclosed.
Icon Luxury Group and CP Brands, two luxury distributors, completed the acquisition of Thomas Pink, a renowned British luxury clothing brand, from LVMH, a holding company and conglomerate specializing in luxury goods. Financial terms were not disclosed.
Blackstone and TCV, two investment firms, completed the acquisition of an additional stake in RELEX Solutions, a provider of unified supply chain and retail planning solutions, from Summit Partners, a global alternative investment firm. Financial terms were not disclosed.
Mondelez considers acquiring US chocolate giant Hershey. ( Bloomberg)
Mondelez International, a leading snacks and sweets company, is considering acquiring iconic US chocolate maker Hershey in a potential merger that could create a food giant with combined sales nearing $50bn.
The Chicago-based firm has made an initial approach to explore the possibility of a deal.
Historically, Hershey has worked with Houlihan Lokey, JP Morgan and Gibson Dunn & Crutcher, according to MergerLinks data.
Prudential reportedly considers selling a stake in Eastspring. ( Bloomberg)
Prudential is exploring strategic options for its asset management arm, Eastspring Investments, which may include selling a minority stake to support business expansion.
The insurer is collaborating with a financial adviser to review Eastspring's prospects. A potential stake sale could value the Singapore-based firm at around $3bn.
Historically, Prudential has worked with Goldman Sachs, Citigroup, Debevoise & Plimpton and Willkie Farr & Gallagher, according to MergerLinks data.
Poundland faces £642m hit due to "challenges" amid looming budget pressures. ( Sky News)
Poundland's owner, Pepco, has reported a £642m (€775m) writedown on the UK discount retailer, attributing it to multiple challenges, including rising costs and the financial strain of the UK budget on businesses.
The non-cash impairment charge reflects a reduction in the estimated value of Poundland’s assets. Pepco cited poor financial performance and intensifying competition as key factors behind the decision, which follows a difficult fiscal year for the retailer.
Bankers prepare €9bn debt for potential Unilever ice cream sale. ( Bloomberg)
Bankers are arranging approximately €9bn ($9.6bn) in debt financing for Unilever’s ice cream division, in case the company chooses to sell it to private equity firms rather than pursue a public listing. Earlier this year, Unilever began exploratory talks with buyout investors regarding a potential £15bn ($19bn) sale of the ice cream business.
However, the company has since indicated that a spin-off is the most likely path forward. While an IPO is still scheduled for the fourth quarter of next year, some private equity firms remain optimistic that Unilever may reconsider a sale.
Historically, Unilever has worked with Morgan Stanley, Ernst & Young, Baker McKenzie and Linklaters, according to MergerLinks data.
APAC
TotalEnergies, a French multinational integrated energy and petroleum company, completed the acquisition of a 50% stake in SapuraOMV, an oil and gas firm, from OMV, an Austrian multinational integrated oil, gas and petrochemical company, for $903m.
SapuraOMV was advised by Datasite. TotalEnergies was advised by White & Case. OMV was advised by JP Morgan and Ashurst.
The Carlyle Group, a global investment firm, agreed to acquire a majority stake in Waste Services Group, an Australian commercial and industrial waste management company, from Livingbridge, a private equity firm. Financial terms were not disclosed.
Livingbridge is advised by UBS.
The Reserve Bank of India has approved the Burman family's plan to increase their stake in Religare Enterprises.
In September last year, the Burmans, founders of Dabur India, raised their stake in Religare to nearly 25%, prompting an open offer to acquire additional shares.
China's Fosun to acquire remaining 22% stake in its tourism unit, valuing it at $1.25bn. ( DealStreetAsia)
Chinese conglomerate Fosun International intends to privatize its tourism arm, valuing the unit at HKD9.71bn ($1.25bn).
Fosun, which already holds over 78% of Fosun Tourism, has offered HKD7.80 ($1) per share for the remaining shares it does not own. This offer represents a 95% premium to the tourism unit's last closing price on November 26.
Topcon receives buyout offers from KKR and EQT amid rising M&A activity in Japan. ( Bloomberg)
Topcon is evaluating takeover bids from potential buyers, including KKR and EQT, highlighting the growing momentum of buyout activity in Japan.
The Tokyo-based manufacturer of eye-care equipment held an initial bidding round in September, narrowing the field to offers from KKR and EQT. The government-backed Japan Investment is also expected to submit a proposal in the second round, which could take place by the end of December.
Stride Ventures, a backer of Zepto, launches $300m fourth fund. ( DealStreetAsia)
Stride Ventures, a homegrown venture debt fund known for backing companies like HealthifyMe and Mensa Brands, announced the launch of its fourth venture debt fund with a target corpus of $300m — nearly double the size of its previous fund.
This launch follows the final close of Stride’s third debt fund at $165 million, $35m short of its predecessor. Managing Partner Apoorva Sharma attributed the smaller size of the third fund to a slowdown in the venture capital market.
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