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AMERICAS
ONCAP, the private equity firm platform of Onex, and Griffon, a diversified management and holding company, formed a joint venture, according to press releases. Financial terms were not disclosed.
Catchment Capital completes the acquisition of Isolatek International from SK Capital Partners.
Catchment Capital, a private equity firm, completed the acquisition of Isolatek International, a building materials company that provides fireproofing materials, from SK Capital Partners, a private investment firm, according to press releases. Financial terms were not disclosed.
Catchment Capital was advised by RBC Capital Markets, Gibson Dunn & Crutcher (led by Alexander Fine) and Gasthalter & Co (led by Mark Semer). Debt financing was provided by JP Morgan and Lord Abbett. SK Capital Partners was advised by Evercore and Goodwin Procter, according to press releases and MergerLinks data.
KSL Capital Partners, an alternative investment firm, completed the acquisition of Invited Clubs, an owner and operator of private golf, country, city and stadium clubs in North America, from Apollo, an American asset management firm, according to press releases. Financial terms were not disclosed.
KSL Capital Partners was advised by Barclays, Simpson Thacher & Bartlett and Joele Frank (led by Kate Kelley and Erik Carlson). Invited Clubs was advised by JP Morgan, Rothschild & Co, Wells Fargo Securities and Akin Gump Strauss Hauer & Feld, according to press releases.
Novanta to acquire Riverpoint Medical from Arlington Capital for $1.45bn.
Novanta, a company which designs, develops, manufactures, and sells precision photonic and motion control components, agreed to acquire Riverpoint Medical, a designer and developer of medical devices, from Arlington Capital, a private equity firm, for $1.45bn, according to press releases.
Novanta is advised by JP Morgan, Robert W Baird, King & Spalding and Ropes & Gray. Riverpoint Medical is advised by Jefferies & Company and Goodwin Procter, according to press releases.
TPG Capital, a global private equity firm, agreed to invest in Smith + Howard, a national tax, accounting, and advisory firm, according to press releases. Financial terms were not disclosed.
Smith + Howard is advised by Robert W Baird, William Blair & Co, Levenfeld Pearlstein and Morrison Cohen. TPG Capital is advised by Guggenheim Partners and Weil Gotshal and Manges, according to press releases.
Partners Capital and Kainos Capital, private equity firms, completed the acquisition of Super-Sod, a supplier of turfgrass products and landscaping solutions, from Heartwood Partners, a middle-market private equity firm, according to press releases. Financial terms were not disclosed.
Kainos Capital was advised by Robert W Baird, Weil Gotshal and Manges and Gasthalter & Co (led by Mark Semer). Super-Sod and Heartwood Partners were advised by Harris Williams & Co and Finn Dixon & Herling, according to press releases.
Clearlake, a private investment firm, completed the acquisition of Pathway, a provider of private market solutions, according to press releases. Financial terms are not disclosed.
Pathway was advised by UBS and O'Melveny & Myers. Clearlake was advised by Bank of America (led by Janis Vitols), Evercore and Kirkland & Ellis, according to press releases and MergerLinks data.
Figure, a provider of a range of financial products and services, and Sixth Street, a private equity company, agreed to acquire Kiavi, a provider of digital financing for real estate investors, for $717m, according to press releases.
Kiavi is advised by Jefferies & Company and Wilson Sonsini Goodrich & Rosati. Figure is advised by Latham & Watkins. Sixth Street is advised by Barclays and Wachtell Lipton Rosen & Katz, according to press releases and MergerLinks data.
Mill Point Capital, a private equity investment company, agreed to acquire Total Safety Supplies & Solutions, a distributor of industrial maintenance, repair, and operations products, from Total Safety, a global provider of industrial safety services and equipment, according to press releases. Financial terms are not disclosed.
Total Safety is advised by Jefferies, and Troutman Pepper Locke. Mill Point Capital is advised by Baird, Moelis, and McDermott Will & Schulte, according to press releases.
Precision Production Management completed a management buyout of Precision Production, a provider of custom precision machining services for businesses, from Spell Capital Partners, a private equity and mezzanine investment manager, according to press releases. Financial terms were not disclosed.
Precision Production Management was advised by Signet Capital Advisors and McDonald Hopkins. Debt financing was provided by First National Bank and Oxer Capital, according to press releases.
Abry Partners, a private equity firm, completed an investment in KaufmanIT, a managed IT, cybersecurity, and cloud services provider, according to press releases. Financial terms were not disclosed.
Abry Partners was advised by Massumi + Consoli and FGS Global. KaufmanIT was advised by Embarc Advisors and Brown & Streza, according to press releases.
Arcline-backed DwyerOmega, a global manufacturer of precision measurement and control solutions, completed the acquisition of Lake Shore Cryotronics, a manufacturer of temperature and magnetic-field measurement and control instruments, according to press releases. Financial terms were not disclosed.
DwyerOmega was advised by Houlihan Lokey and Joele Frank (led by Tim Ragones), according to press releases.
CapVest-backed Second Nature Brands, a producer of premium snacks and treats, agreed to acquire Tillamook Country Smoker, a long-standing producer of high-quality beef jerky and meat sticks, according to press releases. Financial terms were not disclosed.
Second Nature Brands is advised by Solomon Partners and Reputation (led by Ben Valdimarsson), according to press releases.
Arcline Investment Management, a growth-oriented private equity firm, agreed to acquire Continental Aerospace Technologies, a designer and manufacturer of piston aircraft engines and provider of related aftermarket products and services for the general aviation market, for $535m, according to press releases.
Arcline is advised by JP Morgan and Freshfields, according to press releases.
APi Group, a business services provider of fire and life safety, security, elevator and escalator, and specialty services, completed the acquisition of Onyx-Fire Protection Services, an inspection-first provider of fire and life safety services, from Blackstone Tactical Opportunities, a specialized investment platform, according to press releases. Financial terms were not disclosed.
APi Group was advised by Jefferies & Company. Blackstone was advised by RBC Capital Markets, according to press releases.
RoboStrategy, a closed-end, actively managed fund that invests in private and public robotics and embodied AI companies, led a $200m Series C round in Standard Bots, a provider of six-axis programmable robot arms and complementary AI software for industrial automation, with participation from General Catalyst, Amazon, Samsung Next, Box Group, and GiantLeap Capital, according to press releases.
Standard Bots was advised by Bal Strategic Partners and Optimal PCA, according to press releases.
Godspeed Capital, a lower middle-market Defense & Government services, solutions, and technology-focused private equity firm, completed an investment in JP Donova, provider of space infrastructure, fabrication, precision machining, and mission-critical support solutions, according to press releases. Financial terms were not disclosed.
Godspeed Capital was advised by Gasthalter & Co (led by Alex Jeffrey), according to press releases.
Viking Global Investors, an investment management company, led a $100m Series E round in GT Medical Technologies, a medical device company dedicated to improving the lives of patients with brain tumors, with participation from MVM Partners, Gilde Healthcare, Evidity Health Capital, Medtech Venture Partners and FemHealth Ventures, according to press releases.
GT Medical Technologies was advised by New Dawn Communications (led by Dawn Fallon), according to press releases.
International Paper, a company specializing in sustainable packaging solutions, completed the acquisition of NORPAC, a producer of environmentally sustainable lightweight recycled packaging papers, from One Rock Capital Partners, a private equity firm, for $360m.
NORPAC was advised by Moelis & Co, according to press releases and MergerLinks data.
Advent International-backed Xplor Technologies, a provider of software, payments, and intelligent capabilities for everyday life businesses, completed the acquisition of Bitlancer, a technology partner specializing in payroll automation and AI-powered tools purpose-built for fitness operators, according to press releases. Financial terms were not disclosed.
Xplor Technologies was advised by Reed Smith, according to press releases.
Magnetar, a US-based alternative asset management firm, and AMD Ventures, the corporate venture capital arm of Advanced Micro Devices, led a $350m Series B round in TensorWave, a provider of AMD-powered AI infrastructure solutions, with participation from Maverick Silicon, Nexus Venture Partners and Western Frontier, according to press releases.
TensorWave was advised by PAN Communications, according to press releases.
Harvest Partners and A&M Capital Partners-backed Med-Metrix, a company specializing in technology-enabled revenue cycle management, agreed to acquire Vitalware, a company focused on revenue workflow and analytics software, from Health Catalyst, a provider of data and analytics technology services, according to press releases. Financial terms were not disclosed.
Juniper Group, a company specializing in travel technology and booking solutions, completed the acquisition of Deem, a company focused on corporate travel management and booking software, from Travelport, a global travel technology company, according to press releases. Financial terms were not disclosed.
Evolution Equity Partners, an international venture capital investor, led a $600m funding round in Cyera, an AI-native data security platform, with participation from Cyberstarts, Temasek, Accel, AT&T Ventures, Blackstone, Coatue and Spark Capital, according to press releases.
GIC, a sovereign wealth fund, led a $500m Series F round in Supabase, an open-source Backend-as-a-Service platform, with participation from Accel, Y Combinator, Craft, Felicis, Peak XV, Coatue and Salesforce Ventures, according to press releases.
Radical Ventures, a venture capital firm, led a $400m funding round in Generalist AI, a robotics startup, with participation from 8VC, Union Square Ventures, Norwest, Hanabi Capital, Nvidia and Bezos Expeditions, according to press releases.
Temasek, a global investment company, led a $300m Series C round in PhysicsX, a deeptech company, with participation from M&G Investments, Intrepid Growth Partners, Applied Materials, Atomico, General Catalyst, July Fund, NGP, NVIDIA, Radius, and Siemens, according to press releases.
Smash Capital, an emerging growth and later stage consumer internet and software VC firm, led a $200m Series B round in Allen Control Systems, an autonomous precision robotics firm, with participation from Craft Ventures, Rally Ventures and Inspired Capital, according to press releases.
Blackstone looks to sell $2bn of stakes in private investment funds. ( FT)
Blackstone is exploring a transaction to sell more than $2bn of stakes in private investment funds, potentially through a collateralised fund obligation structure that would package the assets into bonds for investors. The process is being advised by Jefferies and remains at an early stage.
The deal would provide liquidity to investors in Blackstone Strategic Partners funds and test demand for secondary private equity exposure amid a challenging exit environment. Buyout firms are holding large volumes of unsold assets, and secondary solutions such as securitisations and stake sales are increasingly being used to return capital.
Activist Ancora builds stake in Ashland, pushes for sale. ( Reuters)
Ancora Alternatives has built a significant stake in Ashland and is urging the company to pursue a sale, arguing that a transaction could increase its share price by at least 30%.
The activist investor said it is prepared to launch a proxy fight if there is no meaningful progress toward a potential sale by the time the director nomination window opens in September 2026.
Ares raises $12.7bn to invest in asset-based finance through the Pathfinder closed-end strategy. ( Press Release)
Ares Management has closed Ares Pathfinder Fund III with $8.5bn in commitments, exceeding its initial fundraising target.
The fund will invest in asset‑based finance opportunities, reflecting continued investor demand for private credit and structured‑finance strategies.
Animal Capital closes $33m Fund III to double down on early-stage strategy. ( Press Release)
Animal Capital has closed its third fund with $33m in commitments, marking an expansion of its early‑stage venture investing strategy.
The fund represents a step‑up from the firm’s previous vehicles and will be deployed into early‑stage companies as Animal Capital increases the scale of its investment platform.
EMEA
Hillhouse, a global investment firm, agreed to acquire a minority stake in LRQA, a risk management partner, according to press releases. Financial terms were not disclosed.
LRQA is advised by Ernst & Young, Goldman Sachs, Jefferies & Company, Liberty Corporate Finance, Rothschild & Co, Linklaters and Squire Patton Boggs, according to press releases.
Motive Partners, an investment firm focused on technology-enabled companies, agreed to acquire Mobius, a UK-based pension investment platform, from Phoenix Equity Partners, a mid-market private equity firm, according to press releases. Financial terms were not disclosed.
Motive Partners is advised by Oliver Wyman, Lazard, PwC and Proskauer Rose, according to press releases.
Lead Edge Capital, a growth equity firm, agreed to invest in Advancing Analytics, a European data and AI Databricks consultancy, according to press releases. Financial terms were not disclosed.
Lead Edge Capital is advised by Guggenheim Partners and Goodwin Procter. Advancing Analytics is advised by Canaccord Genuity and Osborne Clarke, according to press releases.
Stonepeak, an alternative investment firm, and Energy Equation Partners, an investment firm with deep expertise in fuel retail, agreed to acquire Anwim, a fuel distribution company and operator of the MOYA network of petrol stations, according to press releases. Financial terms were not disclosed.
Stonepeak and Energy Equation Partners are advised by Akin Gump Strauss Hauer & Feld, Rymarz Zdort Maruta and Paul Weiss Rifkind Wharton & Garrison, according to press releases.
Janus Henderson, an investment management company, agreed to acquire Rantum Capital, an asset manager focussing on private debt and private equity investments, according to press releases. Financial terms were not disclosed.
Rantum Capital is advised by Campbell Lutyens and Schilling Zutt & Anschuetz (SZA). Janus Henderson is advised by Skadden Arps Slate Meagher & Flom, according to press releases.
TPG Capital-backed Infomedia, a provider of SaaS and DaaS solutions for the global automotive and motor service sector, completed the acquisition of Veact, a SaaS automotive marketing and customer-lifecycle platform, according to press releases. Financial terms were not disclosed.
Veact was advised by 4GC. TPG Capital and Infomedia were advised by DC Advisory (led by Justin Pursell), according to press releases.
Marubeni, a Japanese general trading and investment conglomerate, agreed to acquire TiAuto, a South African automotive aftermarket company, from Old Mutual Private Equity, a private equity manager, and Carlyle, an alternative asset management firm, according to press releases. Financial terms were not disclosed.
Old Mutual Private Equity and Carlyle are advised by DC Advisory (led by Michael Mariaz and Tosh Kojima), according to MergerLinks data.
General Atlantic, a global growth equity firm, led a €1bn ($1.15bn) Series F round in ICEYE, a Finnish microsatellite manufacturer providing synthetic aperture radar satellite operations, with participation from Solidium, Tesi, Varma, Ilmarinen, Lifeline Ventures, Nokia, Qatar Investment Authority and TCV, according to press releases.
General Atlantic was advised by Paul Weiss Rifkind Wharton & Garrison (led by Oliver Marcuse), according to MergerLinks data.
Tether, a financial technology company, agreed to lead a Series C round of up to $1.4bn in NEURA Robotics, the pioneer in cognitive robotics and creator of the Neuraverse, with participation from Qualcomm Technologies, Amazon, NVIDIA, imec.xpand, Bosch, Schaeffler, European Investment Bank, Lingotto Horizon and InterAlpen Partners and others, according to press releases.
NEIRA Robotics is advised by FGS Global, according to press releases.
Island Green Capital, a venture capital and private equity firm, and Molten Ventures, a venture capital firm, led a €270m ($311m) Series D round in Isar Aerospace, a space technology company, with participation from HV Capital, Lakestar, UVC Partners and KfW Capital, according to press releases.
Isar Aerospace is advised by Eden Global Partners, according to press releases.
UK takeover panel extends deadline for EQT takeover of Intertek. (Reuters)
Intertek said the UK Takeover Panel has extended the deadline to June 18 for EQT’s £9.4bn ($12.6bn) takeover proposal.
The UK‑listed testing company remains a target for buyout firms amid increased interest in British assets, with valuations seen as supportive of acquisition activity.
Boots in talks over $10bn sale as owners look to ditch IPO plan. ( FT)
Boots is in talks over a potential $10bn sale with bidders including the Weston family and Sigma Healthcare, in a transaction that could end plans for a London initial public offering.
Sycamore Partners, which acquired Boots through its $23.7bn takeover of Walgreens Boots Alliance in 2025, began discussions with potential strategic buyers before Easter. Negotiations have advanced with the Canadian branch of the Weston family, which owns grocery retailer Loblaws and pharmacy chain Shoppers Drug Mart through Wittington Investments. Discussions remain ongoing and may not result in a finalized transaction.
Brookfield and GIP advance in $7.5bn Kuwait pipeline stake sale. ( Bloomberg)
Brookfield Asset Management and BlackRock’s Global Infrastructure Partners are among the shortlisted bidders for a stake in a Kuwaiti pipeline network in a transaction valued at approximately $7.5bn.
Kuwait Petroleum has also selected EIG Global Energy Partners, Apollo Global Management and KKR to proceed to the next round of the sale process.
KKR consortium in talks about fresh £5bn-plus offer for energy group DCC. ( SkyNews)
A consortium comprising KKR and Energy Capital Partners is in detailed discussions to acquire DCC in a deal that could value the company at more than £5bn ($6.7bn).
The consortium is reportedly negotiating an offer of around £65 ($86.9) per share, an increase from its earlier £58 ($77.6) proposal that DCC rejected in April 2026 because it undervalued the company and its prospects. Discussions remain ongoing and may not result in a finalized transaction.
Apollo withdraws £1.5bn bid for Bodycote. ( FT)
Apollo has abandoned its £1.5bn ($2bn) bid for Bodycote, ending a potential private equity takeover of the London-listed engineering services company.
The buyout firm said it would not proceed with the £8.85($11.8)-per-share offer announced last month, leaving Bodycote listed on the London market.
Allianz in advanced talks to acquire Caravela Seguros. ( Bloomberg)
Allianz is in advanced discussions to acquire Portuguese insurer Caravela Seguros after submitting an offer and entering talks with the company's shareholders.
Toscafund, which owns a 48% stake in Caravela, is seeking to sell its holding, while the insurer’s other shareholders are also considering divesting their stakes.
Warburg Pincus and KKR tap buyers for UK broadband businesses. ( FT)
Warburg Pincus and KKR are exploring a sale of their stakes in UK broadband businesses as they seek to exit investments in the sector.
The firms have begun sounding out potential buyers for the assets amid continued consolidation in the UK telecom infrastructure market.
PAI Partners drops out of bidding for Nestlé water business. ( Bloomberg)
PAI Partners has withdrawn from the bidding process for Nestlé’s water business, which includes brands such as Perrier and S.Pellegrino.
The private equity firm had been viewed as a leading contender due to its longstanding relationship with Nestlé, including their jointly owned ice cream venture.
Oxford BioMedica open to potential takeover approaches. ( FT)
Oxford BioMedica said it remains open to takeover proposals despite rejecting several unsolicited approaches from EQT earlier this year.
Chief executive Frank Mathias said the company would consider offers that could support growth and create value for shareholders, including from private equity investors.
Private lenders provide €1bn financing for Evoke acquisition. ( Reuters)
The funding package will be used in part to refinance €945m of debt maturing in 2028, with Man Group, Schonfeld Strategic Advisors and Shenkman Capital Management also participating.
APAC
BizLink, a global technology company, agreed to acquire Interplex Datacom, a manufacturer of custom interconnect and mechanical solutions for data center infrastructure, from Ennovi, a provider of mechanical and electrical interconnect solutions, for up to $900m, according to press releases.
BizLink is advised by Citigroup, EY Parthenon and Baker McKenzie. Debt financing is provided by Citigroup. Blackstone is advised by Deloitte, JP Morgan and Freshfields, according to press releases.
Coatue, an investment company, led a $2bn Series C funding round in DayOne Data Centers, an independent, Singapore-headquartered hyperscale data center platform, with participation from Indonesia Investment Authority, according to press releases.
DayOne was advised by Morgan Stanley and White & Case (led by Daniel Yeh). Coatue was advised by Latham & Watkins (led by Tracey Zaccone). INA was advised by A&O Shearman (led by James Mythen), according to press releases and MergerLinks data.
Amwins Group, a global distributor of specialty insurance products and services, and Dragoneer Investment Group, a growth-oriented public and private investor, offered to acquire Steadfast Group, a general insurance broker and underwriting agency group, for AUD7.7bn ($5.4bn), according to press releases.
Steadfast Group is advised by Citigroup, Insight Capital Advisors, JP Morgan and Mallesons, according to press releases.
Carlyle, a US-based global private equity and alternative asset manager, agreed to acquire Chung Ho Group, a South Korea-based manufacturer and rental provider of environmental and lifestyle appliances, for $700m, according to press releases.
Carlyle is advised by The SIGNATURE (led by Jason Sohn), according to press releases.
GLP targets $2bn of asset sales ahead of IPO. ( Bloomberg)
GLP has told bondholders it aims to sell around $2bn of assets in 2026 as the logistics and infrastructure operator prepares for a potential initial public offering.
The company is also in discussions with Ares Management regarding the sale of certain international data center assets as part of the divestment program.
EQT in talks for stake in Natural Remedies as firm weighs livestock carve-out. ( DealStreetAsia)
EQT is exploring a potential investment in India‑based pharmaceutical company Natural Remedies as part of its strategy to expand in the healthcare sector.
The private equity firm is engaging with the company’s shareholders to assess a transaction that could involve acquiring a significant stake, with discussions at an early stage and no deal agreed.
Bain Capital joins bidding for oOh!media. ( Reuters)
Bain's offer matches I Squared Capital’s AUD765.9m ($541m) proposal of AUD1.45($1.02) per share, while Pacific Equity Partners previously offered AUD1.40($0.99) per share.
Apollo hunts for Japanese life insurer to boost growth. ( FT)
Apollo Global Management is exploring the acquisition of a Japanese life insurance company as part of its strategy to expand its asset management business in Asia.
The New York-based firm has held preliminary discussions with advisers and potential targets, although no formal bids have been submitted. Apollo is particularly focused on mid-sized Japanese life insurers that could benefit from its investment capabilities and access to global capital markets.
Top Australia gold miner rejects Elliott's proposed company sale. ( Bloomberg)
Northern Star Resources has rejected a proposal from activist investor Elliott Investment Management to divest smaller assets or pursue a sale of the company.
Elliott, which recently built a 3% to 4% stake in the miner, had called for a strategic review that included evaluating a potential sale. The proposal followed several guidance cuts by Northern Star in 2025, driven by operational issues at its Kalgoorlie processing mill.
Ant International considers raising $1bn to boost growth. ( Bloomberg)
Ant International is considering raising around $1bn to support its expansion plans. The international arm of Ant Group has been sounding out investor interest, including from existing shareholders General Atlantic and Silver Lake.
A potential funding round could value the business at $10bn or more. Discussions remain ongoing, and the terms have not been finalized.
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