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Top Highlights
Mubadala, Abu Dhabi's sovereign wealth fund, completed the acquisition of CI Financial, a diversified global asset and wealth management company operating primarily in Canada, the United States and Australia, for CAD12.1bn ($8.8bn), according to press releases.
CI Financial was advised by INFOR Financial, RBC Capital Markets, Skadden Arps Slate Meagher & Flom (led by June Dipchand), Stikeman Elliott (led by John Laffin and John Ciardullo), Wildeboer Dellelce (led by Perry Dellelce, Rob Wortzman and James Brown) and StreetCred PR (led by Jimmy Moock). Mubadala was advised by BMO Capital Markets, Jefferies & Company, Blake Cassels & Graydon, Latham & Watkins (led by Christopher Lester and Jonathan P. Solomon), Brunswick Group and FGS Global (led by Boyd Erman), according to press releases and MergerLinks data.
The Unite Group, a purpose built student accommodation provider, offered to acquire Empiric Student Property, a British company providing student accommodation, for $860m, according to press releases.
FirstCash, an international operator of over 3k retail pawn stores in the US and Latin America, completed the acquisition of H&T Group, an operator of pawn stores in the United Kingdom, for $383m, according to press releases.
H&T Group was advised by Canaccord Genuity (led by Stuart Andrews), Shore Capital & Corporate and Gowling WLG. FirstCash was advised by Jefferies & Company (led by Andrea Lee), Alston & Bird (led by Kyle G. Healy), Macfarlanes (led by Max Mittasch) and Global IR Group (led by Gar Jackson). Financial advisor was advised by Davis Polk & Wardwell (led by Aaron Ferner), according to press releases.
Deal Round up
AMERICAS
BMO reportedly considering $1bn sale of transportation finance unit. ( Bloomberg)
Hillenbrand considers the potential sale of the plastics business. ( Bloomberg)
Francisco Partners considers sale of cybersecurity firm BeyondTrust. ( Bloomberg)
Crypto exchange Bullish valued at nearly $13.2bn in blowout NYSE debut. ( Reuters)
Exchange operator Miami International raises $345m in IPO. ( Bloomberg)
EMEA
Bending Spoons raises €500m to buy more tech companies. ( Bloomberg)
Crux Football seeks $50m to buy Women’s teams in Europe. ( Bloomberg)
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AMERICAS
Rainier Partners-backed Wilmar, a distributor of professional tools, completed the acquisition of EZRED, a designer, manufacturer, and distributor of lighting, tool organization and hand tools for the automotive aftermarket, according to press releases. Financial terms were not disclosed.
EZRED was advised by Fairmount Partners (led by Jonathan Smith and Bill Frame) and Sherman Atlas Sylvester & Stamelman. Rainier Partners was advised by MiddleM Creative (led by Jan Morris), according to press releases.
Mitsubishi Corporation, agreed to acquire a 30% stake in Copper World, an owner of the fully-permitted Copper World project in Arizona, from Hudbay Minerals, a Canadian mining company, for $600m, according to press releases.
SageView Advisory Group, an independent RIA firm, completed the acquisition of Cap Strat, an institutional retirement plan consulting and wealth management firm, according to press releases. Financial terms were not disclosed.
Cap Strat was advised by Turkey Hill Management and Hogan Lovells. SageView was advised by Kilpatrick Townsend, according to press releases.
Searchlight, a private equity firm, completed the investment in Chord Music Partners, a management and acquisition platform for music intellectual property, according to press releases. Financial terms were not disclosed.
Advent, a private equity firm, agreed to acquire the aerospace and defense business of Coherent, a company that develops, manufactures, and supports laser equipment and related specialty components, for $400m, according to press releases.
Coherent is advised by Joele Frank, according to press releases.
Vivos, a consumer packaged goods holding company, completed the acquisition of Nice-Pak, a health and wellness manufacturer of wet wipe products, according to press releases. Financial terms were not disclosed.
Allied Universal, a security and facility services provider, completed the acquisition of Mulligan Security, a provider of security services, according to press releases. Financial terms were not disclosed.
BMO reportedly considering $1bn sale of transportation finance unit. ( Bloomberg)
Bank of Montreal is exploring a sale of its transportation finance business in a deal that could be valued at around $1bn.
The Montreal-based lender has approached potential buyers for the unit, which has about $11bn in assets and could attract interest from private equity and private credit firms.
Hillenbrand considers the potential sale of the plastics business. ( Bloomberg)
Hillenbrand is exploring strategic options, including a potential sale, as it looks to strengthen its long-term growth prospects.
The Indiana-based maker of industrial equipment and plastic processing machinery has engaged a financial adviser to gauge interest from potential buyers, though no deal has been finalized.
Francisco Partners considers sale of cybersecurity firm BeyondTrust. ( Bloomberg)
Buyout firm Francisco Partners is considering a multibillion-dollar sale of cybersecurity firm BeyondTrust Software, aiming to capitalize on growing investor interest in security software offerings.
The firm is working with bankers to assess potential buyers for BeyondTrust, which specializes in privileged access management solutions used by enterprises to secure critical systems and data.
Crypto exchange Bullish valued at nearly $13.2bn in blowout NYSE debut. ( Reuters)
Cryptocurrency exchange operator Bullish reached a valuation of roughly $13.2bn after its shares more than doubled during their NYSE debut on August 13, highlighting investor optimism in the sector and boosting expectations for future US listings of digital asset companies.
Meanwhile, CoinDesk’s parent company raised $1.1bn through its IPO, giving it a valuation of $5.4bn — further evidence of growing mainstream acceptance in a market that recently surpassed $4tn.
Exchange operator Miami International raises $345m in IPO. ( Bloomberg)
Miami International Holdings raised $345m in its initial public offering, with shares priced above the indicated range.
The US exchange operator, also called MIAX, sold 15m shares at $23 each on August 13, after marketing them between $19 and $21.
EMEA
Centrica, a British multinational energy and services company, and Energy Capital Partners, a private equity firm, agreed to acquire Grain LNG, a specialized liquefied natural gas import terminal, from National Grid, an electricity, natural gas, and clean energy delivery company, for £1.5bn ($2bn), according to press releases.
Middleby, a worldwide manufacturer of equipment solutions for commercial foodservice, food processing, and residential kitchens, completed the acquisition of Oka-Spezialmaschinenfabrik, a designer and manufacturer of industrial extrusion, molding, depositing and cutting industrial production equipment in bakery, confectionery and pet-food markets, according to press releases. Financial terms were not disclosed.
Middleby was advised by Skadden Arps Slate Meagher & Flom (led by Shilpi Gupta), according to press releases.
Bending Spoons raises €500m to buy more tech companies. ( Bloomberg)
Bending Spoons, known for acquiring multiple software companies, has secured over €500m ($585m) in debt financing to pursue further takeovers.
The firm intends to use the funds to finalize another acquisition by early next year. The financing package includes a €350m ($409m) leveraged loan obtained in July.
Crux Football seeks $50m to buy Women’s teams in Europe. ( Bloomberg)
Crux Football, established by the former captain of New Zealand’s women’s national football team, is aiming to secure around $50m to purchase European clubs.
The company has been pitching to potential investors and intends to acquire five women’s teams. Target markets include France, Sweden, Spain, Germany, and the UK.
APAC
Ampol, a transport fuels and convenience retailer, agreed to acquire an Australian business of EG Group, a global convenience and forecourt retailer, for AUD1.1bn ($719m), according to press releases.
Adamantem Capital, a private equity firm, agreed to acquire Nexon Asia Pacific, a digital and IT services provider, from EQT, a private equity firm, according to press releases. Financial terms were not disclosed.
EQT is advised by Houlihan Lokey and Johnson Winter & Slattery, according to press releases.
EQT, a private equity firm, offered to acquire CareNet, a digital healthcare platform provider in Japan, for $320m, according to press releases.
Infosys, an IT consulting and software services provider, agreed to acquire a 75% stake in Versent, a digital transformation solutions provider, from Telstra, an Australian telecommunications company, for $153m, according to press releases.
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