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AMERICAS

MJH Life Sciences completes the acquisition of BPD Healthcare from WindRose Health Investors.

MJH Life Sciences, a privately held medical media company, completed the acquisition of BPD Healthcare, a technology-enabled marketing and communications firm, from WindRose Health Investors, a private equity firm, according to press releases. Financial terms were not disclosed.

MJH Life Sciences was advised by Day Pitney. WindRose Health Investors was advised by Houlihan Lokey, William Blair & Co, McDermott Will & Schulte and Lambert & Co (led by Caroline Luz), according to press releases.

Shift4 to acquire Bambora North America from Worldline.

Shift4, a US-based leader in integrated payments and commerce technology, agreed to acquire Bambora North America, a FinTech company, from Worldline, a French multinational payments and transactional services company, according to press releases. Financial terms were not disclosed.

Shift4 is advised by Barclays, Bennett Jones and ICR Inc. Worldline is advised by Jefferies & Company and Norton Rose Fulbright, according to press releases.

Quantum Capital-backed Rockcliff Energy III completes the acquisition of East Texas assets from Pine Wave Energy Partners.

Quantum Capital-backed Rockcliff Energy III, an oil and natural gas company, completed the acquisition of East Texas assets from Pine Wave Energy Partners, a privately held energy company strategically focused on exploring and developing unconventional oil and natural gas resources, according to press releases. Financial terms were not disclosed.

Rockcliff Energy was advised by Kirkland & Ellis and Joele Frank (led by Kate Thompson). Pine Wave was advised by Jefferies & Company, Akin Gump Strauss Hauer & Feld and Redbird Communications (led by Meredith Hargrove Howard), according to press releases and MergerLinks data.

GE Vernova to acquire the remaining 50% stake in Prolec GE from Xignux for $5.3bn.

GE Vernova, a company specializing in energy and grid technologies, agreed to acquire the remaining 50% stake in Prolec GE, a transformer manufacturer and grid equipment supplier, from Xignux, a Mexican industrial conglomerate engaged in energy and electrical manufacturing businesses, for $5.3bn, according to press releases.

GE Vernova is advised by Morgan Stanley and Skadden Arps Slate Meagher & Flom. Xignux is advised by JP Morgan and Sidley Austin, according to press releases and MergerLinks data.

Farmers National Banc to merge with Middlefield Banc in a $299m deal.

Farmers National Banc, a company specializing in diversified financial services, agreed to merge with Middlefield Banc, a company focused on community banking and financial services, in a $299m deal, according to press releases.

Middlefield Banc is advised by Raymond James and Nelson Mullins Riley & Scarborough. Farmers National is advised by Janney Montgomery Scott and Vorys Sater Seymour & Pease, according to press releases.

DraftKings to acquire Railbird Technologies.

DraftKings, a digital sports entertainment and gaming company, agreed to acquire Railbird Technologies, a federally licensed exchange designated by the Commodity Futures Trading Commission, according to press releases. Financial terms were not disclosed.

Railbird Technologies is advised by Moelis & Co, Kirkland & Ellis and Proskauer Rose. DraftKings is advised by Sullivan & Cromwell (led by Jeffrey Scott Miller), according to press releases and MergerLinks data.

Gryphon Investors-backed Caylent completes the acquisition of Trek10.

Gryphon Investors-backed Caylent, a cloud native services company that helps organizations bring the best out of their people and technology using AWS, completed the acquisition of Trek10, a provider of tools and AWS services, according to press releases. Financial terms were not disclosed.

Caylent was advised by Three Rings. Gryphon was advised by Houlihan Lokey, according to press releases and MergerLinks data.

Anthropic, Google in talks on cloud deal worth tens of billions. (Reuters)

Anthropic is in discussions with Google to secure additional computing power valued in the high tens of billions of dollars. The talks underscore the growing demand for cloud infrastructure among leading artificial intelligence developers as they scale their models and services.

Under the proposed arrangement, Google would provide cloud computing resources to Anthropic through its parent company Alphabet. Negotiations remain ongoing, and the agreement has not yet been finalized.

Ananym suggests Baker Hughes spin out its oil services equipment business. (Reuters)

Ananym Capital is urging Baker Hughes to spin off its oilfield services and equipment division, arguing that such a move could boost the company’s share price by at least 60%.

The activist investor sees a separation as the most effective way to unlock value within the energy and technology group.

Advent International exploring $2bn sale of Parfums de Marly business. (FT)

Advent International is in early discussions about a potential sale of its Parfums de Marly business, reflecting growing deal activity in the rapidly expanding fragrance sector. The private equity firm is exploring strategic options for the company, which also owns the Initio Parfums Privés brand.

Oaktree lines up private debt for perpetual wealth unit takeover. (Bloomberg)

Oaktree Capital Management is turning to private credit to finance its planned acquisition of Perpetual’s wealth management unit. The firm has secured a loan from Ares Management and Barings to support the purchase by its portfolio company AZ Next Generation Advisory.

EMEA

Tritax Big Box completes the acquisition of the portfolio of logistics assets from Blackstone for £1.04bn.

Tritax Big Box, a provider of critical supply chain infrastructure, completed the acquisition of the portfolio of logistics assets from Blackstone, an alternative asset manager, for £1.04bn, according to press releases.

Tritax Big Box was advised by DTRE, Akur Capital, JP Morgan, Jefferies & Company and Kekst CNC (led by Tom Climie). Blackstone was advised by Newmark Group, Barclays, Rothschild & Co (led by Alex Midgen) and Simpson Thacher & Bartlett (led by Wheatly MacNamara), according to press releases and MergerLinks data.

HIG Capital completes the acquisition of a 73.8% stake in ALA from AIP Italia for €243m.

HIG Capital, a global private equity firm, completed the acquisition of a 73.8% stake in ALA, a logistics and engineering services provider in the aerospace and defense sectors, from AIP Italia, a holding company owned by Fulvio Scannapieco and Vittorio Genna, for €243m, according to press releases.

HIG Capital was advised by Barclays, UniCredit (led by Andrea Petruzzello), and Perez Llorca. Debt financing was provided by UniCredit. AIP Italia was advised by Mediobanca, Boccia & del Giudice and Gianni & Origoni, according to press releases and MergerLinks data.

PAI Partners to acquire a majority stake in Cyrus Group.

PAI Partners, a private equity firm, agreed to acquire a majority stake in Cyrus Group, independent wealth management brand in France, according to press releases. Financial terms were not disclosed.

PAI Partners is advised by Greenbrook (led by Peter Hewer), Havas (led by Sarah Duparc) and ICR Inc (led by Brian Ruby). Cyrus is advised by Rothschild & Co, according to press releases and MergerLinks data.

Ipsen to acquire ImCheck Therapeutics from EQT Life Sciences for €1bn.

Ipsen, a biotechnology company, agreed to acquire ImCheck Therapeutics, a private French biotech company, from EQT Life Sciences, a private equity firm, for €1bn ($1.2bn), according to press releases.

FalconX to acquire 21Shares.

FalconX, a US-based institutional digital asset prime brokerage firm, agreed to acquire 21Shares, a Swiss provider of cryptocurrency exchange-traded products, according to press releases. Financial terms were not disclosed.

Canned food firm seeks up to £400m in London IPO. (Bloomberg)

Princes Group is seeking to raise up to £400m ($535m) in a London initial public offering as the canned food producer aims to expand through acquisitions. The company, a subsidiary of Milan-listed NewPrinces, is offering up to 84.2m new shares at a price range of £4.75 ($6.36) to £5.90($7.89) each.

The listing is set to be London’s largest IPO by a domestic company since 2021, marking a significant test of investor appetite for consumer staples amid a cautious equity market environment.

APAC

Sembcorp is said to be in talks to buy stake in B.Grimm gas assets. (Bloomberg)

Sembcorp Industries is in discussions to acquire a minority stake in the gas-fired power business of Thailand’s B.Grimm Power. The Singapore-based company, backed by Temasek Holdings, is considering the purchase of a 25% to 30% stake valued at between $500m and $600m.

The potential deal would value the gas-fired business at about $2bn. Negotiations are ongoing and may not result in a finalized agreement.

China’s Neolix is said to near $500m in funding, eyes IPO. (Bloomberg)

Neolix Technologies is close to raising $500m in new funding to support production growth and global expansion ahead of a potential initial public offering. The Chinese maker of unmanned delivery vehicles is expected to announce the private fundraising round as soon as October 23.

Both domestic and international investors are likely to participate in the pre-IPO round. The fresh capital would strengthen Neolix’s position in the autonomous delivery market as it prepares for a possible listing.

CDH-backed drug developer Innorna is said to plan Hong Kong IPO. (Bloomberg)

Innorna, a Chinese developer of messenger RNA therapies backed by CDH Investments, is planning an initial public offering in Hong Kong. The biotech firm is working with China International Capital Corp. and Jefferies on the proposed listing, which could take place as soon as next year.

Innorna is expected to raise about $200m in the IPO. The offering would mark one of the latest biotech listings from China as companies seek funding to advance mRNA drug development and commercialization.

China chipmaker Yangtze Memory is said to consider IPO next year. (Bloomberg)

Yangtze Memory Technologies is considering an initial public offering in mainland China that could value the company at more than $40bn. The potential listing would rank among the largest in the country in recent years.

The chipmaker, known as YMTC, is working with China International Capital Corp. and CSC Financial on the planned IPO, which could take place as soon as next year. The company is weighing a valuation in the range of CNY200bn ($28bn) to CNY300bn ($42bn).

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