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Top Highlights
Macquarie Asset Management, a global asset manager, agreed to invest up to $5bn in Applied Digital, a company that develops, builds and operates data centers and cloud infrastructure.
Applied Digital is advised by Citizens M&A, Goldman Sachs, Needham & Co, Northland Capital Markets, TD Securities, Lowenstein Sandler, Gateway Investor Relations (led by Matt Glover) and Jaymie Scotto & Associates (led by Buffy Harakidas). Macquarie is advised by Simpson Thacher & Bartlett (led by Gabriel Silva and Keegan Lopez).
Roark Capital, a private equity firm, completed the acquisition of a majority stake in GPRS, a provider of subsurface damage prevention, existing conditions documentation, and facility management solutions, from Kohlberg, a private equity firm. Financial terms were not disclosed.
Brookfield Asset Management, a global investment firm, and Antin Infrastructure Partners, a private equity firm, completed the investment in Origis Energy, a renewable energy platform. Financial terms were not disclosed.
Origis Energy was advised by JP Morgan, PJT Partners, Santander and Latham & Watkins (led by Alex Kelly). Brookfield was advised by Vinson & Elkins.
Deal Round up
AMERICAS
EMEA
Testing giants Bureau Veritas and SGS in merger talks. ( Press Release)
Kushner’s Affinity gets nod to double stake in Israel’s Phoenix. ( Bloomberg)
Prague eyes first major IPO since 2020 as Doosan to list unit. ( Bloomberg)
APAC
India's Aditya Birla Fashion to raise $500 mln via share sales to Fidelity. (Press Release)
Japan's Makino Milling requests changes to unsolicited bid from Nidec. ( Reuters)
Tencent, Guillemot family said to mull Ubisoft asset venture. ( Bloomberg)
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AMERICAS
Princeton Equity Group, a private equity firm, completed the investment in Barry's, a boutique fitness brand. Financial terms were not disclosed.
Barry's was advised by JP Morgan and Greenberg Traurig. Princeton was advised by Piper Sandler, Akin Gump Strauss Hauer & Feld (led by Thomas Yan) and DLA Piper.
Advanced Material Processing, a high-value material processing equipment and solutions company, agreed to merge with Automated Handling Solutions, a material handling equipment and integrated solutions company. Financial terms were not disclosed.
May River Capital is advised by Robert W Baird, and Winston & Strawn. Debt financing is provided by Kayne Anderson Private Credit and Northstar Capital. Debt providers are advised by Paul Hastings.
Klevu, an AI-driven search and discovery company, and Searchspring, an ecommerce search and merchandising platform, formed Athos Commerce, an ecommerce search and personalization platform. Financial terms were not disclosed.
Searchspring was advised by Prosek Partners. Klevu was advised by Avance (led by Ilkka Perheentupa).
onsemi, an American semiconductor supplier company, completed the acquisition of the United Silicon Carbide subsidiary business of Qorvo, an American multinational company specializing in products for wireless, wired, and power markets, for $115m.
Corient, a wealth management firm, completed the acquisition of multi-family office business of Geller & Company, a provider of custom strategic financial advisory and wealth management solutions to individuals, businesses, families and NPO's.
Corient was advised by StreetCred PR (led by Jimmy Moock).
Henry Schein, a provider of healthcare products and services, completed the acquisition of Acentus, a national medical supplier specializing in the delivery of Continuous Glucose Monitors.
Acentus was advised by Provident Healthcare Partners.
Imperial Dade, a distributor of foodservice packaging supplies, industrial products, and janitorial supplies, completed the acquisition of S. Freedman & Sons, a distributor of cleaning chemicals, floor machines & accessories. Financial terms were not disclosed.
Geopark, an independent Latin American oil and gas explorer, failed to acquire Colombian oil and gas assets from Respol, a global multi-energy provider, for $530m.
Thoma Bravo-backed Flexera, a computer software company, agreed to acquire the FinOps business from NetApp, a software company. Financial terms were not disclosed.
Jones-Hamilton, a producer and marketer of hydrochloric acid and sodium bisulfate, completed the acquisition of Nexchlor, an exclusive marketer and distributor of hydrochloric acid, from Copperbeck Energy Partners, a provider of strategic midstream and downstream-adjacent infrastructure and services for refineries. Financial terms were not disclosed.
Ruppert Expands, an industry-leading provider of commercial landscaping services, completed the acquisition of Lawnscapes, a commercial landscaping service provider. Financial terms were not disclosed.
On January 14, Canada conditionally approved US grain merchant Bunge's $34bn merger with Viterra, backed by Glencore, removing one of the final hurdles for an agriculture deal of unprecedented scale.
The approval requires Bunge to divest six grain elevators in Western Canada and commit to investing at least CAD520m ($362m) in Canada over the next five years.
Historically, Bunge has worked with JP Morgan, Rothschild & Co, Shearman & Sterling and White & Case, according to MergerLinks data.
EMEA
Octopus Energy, a renewable energy investor, agreed to acquire the French solar unit from OX2, a provider of renewable energy solutions. Financial terms were not disclosed.
Testing giants Bureau Veritas and SGS in merger talks. ( Press Release)
France's Bureau Veritas and Switzerland's SGS are in discussions to merge, aiming to create a testing and certification company valued at over $30bn, significantly outpacing competitors.
The companies, which specialize in testing and certifying products, ingredients, and processes, provided limited details about the talks on January 15 and emphasized that there is no certainty a deal will be reached.
Kushner’s Affinity gets nod to double stake in Israel’s Phoenix. ( Bloomberg)
Jared Kushner’s Affinity Partners has secured approval from Israeli regulators to double its stake in Phoenix Financial, paving the way for the Saudi-backed investment firm to proceed with the deal.
Affinity is now authorized to acquire an additional 4.95% stake in the financial services company from Centerbridge Partners and Gallatin Point Capital at a price of ILS37.5 ($10.3) per share.
Historically, Historically, Affinity has worked with UBS, JP Morgan, Latham & Watkins and Freshfields Bruckhaus Deringer, according to MergerLinks data.
Prague eyes first major IPO since 2020 as Doosan to list unit. ( Bloomberg)
The Prague Stock Exchange is gearing up for its first significant initial public offering in over four years, as steam-turbine manufacturer Doosan Škoda Power reveals plans to list a minority stake.
The Czech subsidiary of South Korea’s Doosan Enerbility is seeking investors during a period of energy transition in the central European country, which is moving away from coal and preparing to modernize its energy infrastructure with nuclear, gas-fired, wind, and solar power projects.
Doosan Škoda Power plans to use the proceeds to enhance its competitiveness by investing in new machinery and facilities.
APAC
India's Aditya Birla Fashion to raise $500 mln via share sales to Fidelity. (Press Release)
India's Aditya Birla Fashion and Retail (ABFRL) announced on January 15 that it will raise $500m through a share sale, including an investment from US firm Fidelity.
The retailer plans to generate $275m by issuing preference shares, with the allocation split between its controlling shareholders and Fidelity, while the remaining $225m will be raised through a qualified institutional placement.
Japan's Makino Milling requests changes to unsolicited bid from Nidec. ( Reuters)
In its statement, Makino asked Nidec to delay the tender offer launch date to May 9 instead of April 4 and to raise the minimum acceptance threshold to two-thirds from one-half.
Nidec, a precision motor manufacturer, had previously announced on December 27 that it planned to complete regulatory clearances by early April and commence the tender offer on April 4.
Tencent, Guillemot family said to mull Ubisoft asset venture. ( Bloomberg)
Tencent Holdings and Ubisoft Entertainment's founding Guillemot family are exploring the creation of a new venture involving select Ubisoft assets to enhance the French video game company's value.
The two parties are evaluating which assets to include in the venture and determining their valuation. The proposed deal would grant Tencent a stake in the new entity, providing it with greater control over some of Ubisoft’s intellectual properties while expanding its video game business internationally.
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