Footprint, an operator of a global materials science sustainable technology company, agreed to go public via a SPAC merger with Gores Holdings VIII in a $1.6bn deal. The SPAC is backed by The Gores Group. Koch Strategic Platform also participated in the deal.
"Our mission is to create a healthier planet and step one is to design, develop and manufacture plant-based fiber solutions as an alternative to single-use plastics. Today marks an exciting inflection point in our seven-year history inventing new materials that challenge the status quo. In the Gores team, we have found a partner with a proven track record of bringing leading companies to the public markets and a shared commitment to global sustainability. The balance sheet strength of the combined company is anticipated to enable Footprint to expand our operations and geographic reach as we scale our technology to meet record customer demand," Troy Swope, Footprint Co-Founder and CEO.
Footprint is advised by Credit Suisse, Goldman Sachs, LionTree Advisors, Kirkland & Ellis and ICR. Gores Holdings VIII is advised by Credit Suisse, Deutsche Bank, Goldman Sachs, LionTree Advisors, Moelis & Co and Weil Gotshal and Manges. Financial advisors are advised by Sidley Austin. The Gores Group is advised by Sard Verbinnen & Co.
Chatham Asset Management, a private investment firm, agreed to acquire RR Donnelley, an integrated communications company, for $2.3bn. Chatham Asset Management will acquire all of the outstanding shares of RRD common stock for $10.85 per share in cash.
“This transaction, which follows a robust and thorough process, is a recognition of the enormous value created by our talented employees, whose passion and dedication to the success of RRD and our clients has enabled us to achieve this important milestone. Under Chatham’s ownership, I expect that RRD will remain an industry leading marketing and business communications company, with enhanced resources and flexibility, to effectively meet the evolving needs of our clients," Dan Knotts, RRD President and CEO.
RRD is advised by Centerview Partners, Skadden Arps Slate Meagher & Flom, Debevoise & Plimpton and Joele Frank. Chatham Asset is advised by Jefferies & Company, Lowenstein Sandler, Olshan Frome Wolosky and Gasthalter & Co.
Brightstar Capital Partners, a private equity firm, agreed to acquire Novae, a trailer manufacturer. Financial terms were not disclosed.
"We appreciate everything the Novae team has done to make this one of the best years in the Company's history. Our team has worked tirelessly to consistently deliver on our promises despite the global pandemic. We look forward to partnering with the Brightstar team to take advantage of their operational expertise and relationship networks to continue Novae's growth trajectory," Steve Bermes, Novae Founder and CEO.
Brightstar Capital is advised by Jefferies & Company, KeyBanc Capital Markets, Nomura, Fredrikson & Byron and Dukas Linden Public Relations. Novae is advised by Fifth Third Bancorp and Faegre Drinker Biddle & Reath.
Partners Group-backed PCI Pharma Services, a pharmaceutical and biopharmaceutical global integrated solutions provider, completed the acquisition of Lyophilization Services of New England, a premier contract manufacturing organization, from Permira, the global private equity firm. Financial terms were not disclosed.
"Permira's partnership has been instrumental to helping us achieve our strategic goals. Permira's industry expertise in pharma services, global relationships and operational resources were invaluable as we entered new markets, pursued capacity expansion and broadened our capabilities. We are grateful for their partnership, and we look forward to beginning the new journey as part of PCI," Matt Halvorsen, LSNE Founder and CEO.
PCI Pharma was advised by Jefferies & Company, Paul Weiss Rifkind Wharton & Garrison and White & Case. Partners Group was advised by Ropes & Gray. Permira was advised by RBC Capital Markets, Sheppard Mullin Richter & Hampton and Skadden Arps Slate Meagher & Flom.
Symbotic, a technology platform for the supply chain, agreed to go public via a SPAC merger with SVF Investment 3 in a $4.8bn deal. Walmart and SoftBank Vision Fund 2 also participated in the deal.
“We are highly impressed by how Rick and the team have built Symbotic into the remarkable, growing business and industry leader it is today. We believe Symbotic has built an exceptional platform on which to scale, building on the company’s strong revenue, balance sheet and profitability to thrive as Rick and the team continue to reimagine global supply chains," Yanni Pipilis, SVF Investment 3 Chairman and CEO.
Symbotic is advised by Goldman Sachs, Sullivan & Cromwell and Abernathy MacGregor Group. SVF Investment 3 is advised by Deutsche Bank, Goldman Sachs and Paul Weiss Rifkind Wharton & Garrison.
Two private equity firms Northleaf Capital and AVALT agreed to acquire a majority stake in AMAROK, a manufacturer of perimeter security systems. Management team is retaining a minority interest. Financial terms were not disclosed.
"We are excited by the opportunity to work with Northleaf and AVALT. We know they support our vision to be the leading perimeter security provider in North America. Our business is focused on providing solutions that protect our customers' assets and inventory by stopping crime before it happens. Northleaf and AVALT are the right long-term partners to help us scale our business and increase the number of properties we secure," Mark Wesley, AMAROK CEO.
Northleaf Capital and AVALT are advised by Alvarez & Marsal and Ropes & Gray. Debt financing is provided by Golub Capital. AMAROK is advised by Piper Sandler, Raymond James and Weil Gotshal and Manges.
Infinite Assets, a Metaverse infrastructure platform that enables brands to create, monetize and drive consumer engagement with digital content, agreed to go public via a SPAC merger with Aries I Acquisition in a $700m deal.
"With the unique combination of our infrastructure and next-gen content production, InfiniteWorld is one of the ultimate partners for brands and the future of their digital content in the Metaverse. We look forward to accelerating our platform development, building more brand partnerships and driving sustainable growth and value creation for our stakeholders," Yonathan Lapchik, InfiniteWorld CEO.
Infinite Assets is advised by Exos and Reed Smith. Aries I Acquisition is advised by Solomon Partners, Winston & Strawn and Edelman.
Entegris, a firm that provides materials management products and services to the microelectronics industry on a worldwide basis, agreed to acquire CMC Materials, a supplier of polishing slurries and polishing pads, for $6.5bn.
“Acquiring CMC Materials will further differentiate our unit-driven platform and advance our ability to provide a broad range of process solutions for our customers, at a faster time-to-solution. The highly complementary combined portfolio creates the industry’s most comprehensive and innovative end-to-end electronic materials offering, as well as significantly expands our growing served market and content per wafer opportunity. In addition, we believe the acquisition will allow us to unlock significant growth through enhanced innovation, scale and execution. We also expect to utilize our significant cash flows to rapidly reduce leverage,” Bertrand Loy, Entegris President and CEO.
Entegris is advised by Morgan Stanley and Skadden Arps Slate Meagher & Flom. Debt financing is provided by Morgan Stanley. CMC Materials is advised by Goldman Sachs and Wachtell Lipton Rosen & Katz.
KKR, an investment firm, completed the acquisition of Bettcher Industries, a manufacturer and supplier of food processing equipment, from MPE Partners, a private equity firm. Financial terms were not disclosed.
“Bettcher is a great business and an iconic brand, and I am honored to support the Company in its growth ambitions from here. Through continued growth and accretive acquisitions, we can together build Bettcher into a scaled leader in food processing automation equipment and I look forward to working alongside the Bettcher management team and KKR to do exactly that,” Dan Daniel, KKR Executive Advisor.
KKR was advised by William Blair & Co and Kirkland & Ellis. Debt financing was provided by Jefferies & Company, KKR Capital Markets and RBC Capital Markets.
Nomura Research Institute, a global provider of consulting services and system solutions, completed the acquisition of Core BTS, a provider of business technology solutions, from Tailwind Capital, a private equity firm. Financial terms were not disclosed.
"NRI is committed to providing the highest quality services and insights to earn the continuous trust of our clients. The value that Core BTS' approach, people, and systems bring to their clients makes them an ideal fit for our organization and supports our desire to offer clients the best solutions and services available globally. Core BTS will have a significant voice within NRI and their addition offers immense opportunities for collaboration and growth throughout our Company," Hajime Ueda, NRI Senior Executive Managing Director.
Core BTS was advised by Evercore, Davis Polk & Wardwell and Walker Sands Communications. Nomura Research Institute was advised by Nomura and Pillsbury Winthrop Shaw Pittman.
Symphony Technology, a private equity firm, completed the acquisition of a majority stake in CAI Software, a software vendor of mission-critical, production-oriented software to the manufacturing and distribution sectors. Financial terms were not disclosed.
"CAI's long-term customers and employees have helped build our market-leading, end-to-end production software platforms for producers, manufacturers and distributors. This new partnership with STG will allow us to better support our customers and employees while accelerating our go-to-market and product development efforts," Brian Rigney, CAI CEO.
Symphony Technology was advised by PricewaterhouseCoopers and Paul Hastings. CAI was advised by Locke Lord, Evercore and Weil Gotshal and Manges.
Eneva, a Brazilian energy utilities company, agreed to acquire Focus Energia, a firm engaged in the energy sector, for $162m.
Eneva will pay 75% in cash and the remaining stake in stocks. The deal is part of Eneva's strategy to diversify its portfolio in renewable energy and would delist Focus Energia from the Bovespa stock exchange.
Eneva is advised by Santander and Stocche Forbes. Focus is advised by Morgan Stanley and Pinheiro Neto.
AEA Investors, a private investment firm, agreed to invest in CI Capital-backed Redwood Logistics, a provider of third-party logistics services. Financial terms were not disclosed.
"This additional investment accelerates our organization's strategic growth plan, all while retaining and underscoring our core values, unique Redwood culture and winning team. Our customers, carriers, vendors and employees will benefit greatly from this partnership as it enables us to accelerate the kind of aggressive innovation that led us to the development and launch of our Logistics Platform as a Service operating model," Mark Yeager, Redwood Logistics CEO.
AEA Investors is advised by Joele Frank. CI Capital is advised by Kekst CNC. Redwood Logistics is advised by Jefferies & Company and LeadCoverage.
Blackstone completed an investment in Nautic Partners, a middle-market private equity firm. Financial terms were not disclosed.
“We have been impressed with the Nautic team’s combination of deep sector expertise and dedication to collaborating with strong management teams. This approach has allowed them to deliver outstanding investment results over a long period of time and build an enviable reputation among their peers. The firm is well-positioned for the future and we are delighted to be their partners on this journey," Mustafa Siddiqui, Blackstone Head of GP Stakes.
Nautic Partners was advised by Evercore and Kirkland & Ellis. Blackstone was advised by Simpson Thacher & Bartlett.
Aurora Capital-backed Inhance Technologies, a provider of sustainable polymer material science solutions, completed the acquisition of Advance Research Chemicals, a producer of specialty chemicals. Financial term were not disclosed.
"ARC is a pioneer in their markets, and their highly complementary suite of solutions will add to our existing offerings as well as expand our geographic and industry reach. Together, we will be a global leader in sustainable specialty chemicals and materials technologies with unmatched R&D capabilities, technical knowhow, and geographic breadth. I look forward to working with the ARC team to continue innovating and using our combined technologies as a means to achieve a greener, more sustainable future," Andrew Thompson, Inhance Technologies President and CEO.
Inhance Technologies was advised by Robert W Baird and Gibson Dunn & Crutcher. Aurora Capital was advised by ASC Advisors.
Consilio, a provider of eDiscovery, document review, risk management, and legal consulting services, completed the acquisition of Legility, a provider of outsourced legal services to in-house legal departments and law firms. Financial terms were not disclosed.
“Legility has a proven track record of creating excellent predictive and automated enterprise-wide legal driven processes that blend analytics, purpose-built workflows, and information-driven process improvements that help legal teams achieve operational success. This acquisition unlocks greater scale and resources while aligning with our strategy to invest in differentiated solutions that result in a consistently exceptional client experience," Andy Macdonald, Consilio CEO.
Consilio was advised by Prosek Partners. Legility was advised by Jefferies & Company.
Quest Diagnostics, a provider of diagnostic information services, agreed to acquire Labtech Diagnostics, an independent clinical diagnostic laboratory provider serving physicians and patients. Financial terms were not disclosed.
"Our acquisition of Labtech Diagnostics delivers on our Accelerate growth strategy in the Southeast and vision of a healthier world. Establishing a laboratory in South Carolina will enable us to provide diagnostic insights empowering affordable care to more patients and providers while building on our growth aims in the region," Steve Rusckowski, Quest Diagnostics Chairman, CEO and President.
Quest Diagnostics is advised by Dechert.
SVB Financial Group, a commercial bank, agreed to acquire MoffettNathanson, an independent sell-side research boutique. Financial terms were not disclosed.
"The MoffettNathanson team has built an incredible reputation as a leader in equity research. The addition of technology equity research is another important step in further solidifying our place as the essential partner to innovation economy clients. I'm proud to welcome the MoffettNathanson team to SVB and continue to strengthen the capabilities of our investment banking practice," Greg Becker, SVB Financial President and CEO.
SVB is advised by Morgan Lewis & Bockius.
Graham Partners, a private equity firm, completed the investment in Kinova Group, an operator of a robotics technology company. Financial terms were not disclosed.
"We believe Kinova’s cobot technology and expertise in both medical and industrial applications is unique in the robotics industry. We are excited to leverage our expertise to help drive value creation and growth at Kinova and are looking forward to supporting mission-driven co-founders, Charles Deguire and Louis-Joseph L’Écuyer, in achieving their goals," Dennis Dunegan, Graham Partners Managing Principal.
Graham Partners was advised by Dechert.
Carnelian Energy Capital, a private equity firm, completed the investment in Ridgemar Energy, a Houston-based oil and gas company. Financial terms were not disclosed.
“After working alongside Preston for years and seeing his knack for creative deal making first hand, we are excited to partner with him and Mina and David. We believe the team’s commercial acumen, technical skillset and nimble approach will position Ridgemar for success," Tomas Ackerman, Carnelian Energy Partner.
Ridgemar Energy was advised by Willkie Farr & Gallagher.
WestCap, a growth equity firm, led a $1bn funding round in NYDIG, a technology and financial services firm. Additional investors include Bessemer Venture Partners, FinTech Collective, Affirm, FIS, Fiserv, MassMutual, Morgan Stanley, and New York Life.
“We are leading the investment round in NYDIG because of a shared belief in the industry-reshaping power of Bitcoin and WestCap’s conviction in the NYDIG team to continue to execute on the incredible opportunity in front of them. NYDIG plays a unique role in the industry, empowering companies of all types to incorporate Bitcoin in a secure and compliant way. We are proud to partner with Robby and his outstanding NYDIG team as they forge new paths to accessibility and further accelerate Bitcoin adoption," Scott Ganeles, WestCap Partner.
Permira, an investment firm, led a $350m Series G round in Sysdig, a cloud security company. Additional investors included Guggenheim Investments, Accel, Bain Capital Ventures, DFJ Growth, Glynn Capital, Goldman Sachs, Insight Partners, Next47, Premji Invest & Associates, and Third Point Ventures.
“We’ve seen massive investor interest in Sysdig as the cloud security market is experiencing hyper growth. Cloud adoption has accelerated into the mainstream, and as a result, demand for Sysdig and Falco have skyrocketed. Cloud security teams quickly realize the importance of runtime threat detection for containers and cloud, and Sysdig is the clear choice," Suresh Vasudevan, Sysdig CEO.
Advent-backed Ebanx, a payment platform, completed the acquisition of Remessa Online, a developer of an exchange platform, for $212m.
“We are excited about the arrival of Remessa Online at this point in Ebanx's history. We believe that the complementarity of action will allow us to better serve Ebanx customers in Latin America, while we will be able to accelerate and expand Remittance's plans," João Del Valle, Ebanx Co-Founder and CEO.
SoftBank Vision Fund 2, a fund with a goal to invest in AI-based technology, led a $100m funding round in EzCater, a provider of online corporate catering services. Additional investors include Quadrille Capital, GIC, Iconiq Growth, Insight Partners and Lightspeed Venture Partners.
"With this additional cash, we can expand and go deeper into more of these verticals that are pretty solid against any increase in omicron," Stefania Mallett, EzCater Co-Founder and CEO.
DCC-backed Exertis, a technology distribution and services company, completed the acquisition of Almo, a distributor of appliances and consumer electronics. Financial terms were not disclosed.
“The acquisition of Almo is the largest in DCC’s history and signals our confident and ambitious intent to expand DCC Technology. By integrating Almo with our North American Business, we will form the largest specialist Pro AV business in North America. Almo’s 75-year history of growth and success, combined with its longstanding relationships with industry partners and its ability to continually innovate and expand will be great assets to Exertis. In turn, we will bring significant economies of scale, global supply chain access and other benefits to the customers of Almo," Tim Griffin, DCC Technology & Exertis Managing Director.
Near in talks with KludeIn I for a SPAC merger.
Near, a data intelligence platform, is in talks to go public through a merger with KludeIn I Acquisition, a blank-check firm,
Bloomberg reported.
The companies are discussing a transaction that could be announced in coming weeks, and that may give the combined entity an enterprise value of about $1bn to $1.2bn. As with all deals that aren't finalized, it's possible that terms change or that talks fall apart.
Colgate Energy's private equity owners plan for its $4bn valuation IPO.(FS)
Pearl Energy Investments and NGP, the buyout firms that own Colgate Energy Partners III, are preparing to float the shale oil producer on the stock market at a valuation approaching $4bn, being the first major US oil producer IPO since 2018.
Pearl and NGP are working with Credit Suisse on getting it ready for an IPO that could launch by the middle of 2022.
