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Top Highlights
Nemetschek Group, a global software provider for digital transformation, agreed to acquire HCSS, a heavy civil construction software company, from Thoma Bravo, a private equity firm, according to press releases. Financial terms were not disclosed. Nemetschek will hold approximately 72% of the shares and Thoma Bravo will hold approximately 28% as a minority shareholder.
Nemetschek Group is advised by JP Morgan, Hoffmann & de Vries and Latham & Watkins. Thoma Bravo is advised by Centerview Partners, Citigroup, Deutsche Bank, Kirkland & Ellis and FGS Global (led by Abigail Farr and Akash Lodh), according to press releases.
BAWAG PSK, an Austrian commercial bank, agreed to acquire PTSB, an Irish retail and SME bank, for €1.62bn ($1.92bn), according to press releases.
TPG, a global private equity firm, agreed to acquire Learfield, a media, data, and technology services company, according to press releases Financial terms were not disclosed.
Learfield is advised by Bank of America, Moelis & Co and Davis Polk & Wardwell. TPG is advised by Evercore, The Raine Group, Mintz Levin and Ropes & Gray, according to press releases.
AMERICAS
Bond expands Bombardier jet order to $5bn. ( Bloomberg)
Petrobras in talks to buy back Mataripe refinery from Mubadala. ( Reuters)
United CEO pitches potential tie-up with American Airlines. ( Bloomberg)
Goldman, Ardian acquire $1bn CIC private equity stakes. ( Bloomberg)
EMEA
I Squared and Blackstone mull joint bid for Ströer unit. ( Bloomberg)
Telecom Italia appoints Goldman Sachs and Evercore to review Poste Italiane bid. ( Reuters)
Manulife IM eyes Cellnex Swiss unit stake. ( Reuters)
Intertek explores breakup to unlock value. ( Bloomberg)
Golden Goose markets €880m bond to fund HSG buyout. ( Bloomberg)
Stegra secures $1.4bn backing from Wallenberg-led group. ( Bloomberg)
APAC
Yancoal to acquire 80% stake in Kestrel mine for $2.4bn. ( Reuters)
CATL explores potential $5bn Hong Kong share sale. ( Reuters)
Service Long files for record Pakistan IPO. ( Bloomberg)
Japan M&A boom drives record corporate bond issuance. ( Bloomberg)
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COMPANIES
INVESTORS
FINANCIAL ADVISORS
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AMERICAS
American Industrial Partners, an operationally-oriented middle-market private equity firm, agreed to acquire Avanos Medical, a medical technology company making clinical medical devices, for $1.27bn, according to press releases.
Avanos Medical is advised by JP Morgan, UBS, Alston & Bird and Joele Frank. American Industrial Partners is advised by Baker Botts and Sidley Austin, according to press releases.
Olympus Partners, a private equity and venture capital firm, agreed to acquire a majority stake in Network Connex, a provider of data center and connectivity solutions, from ORIX Capital Partners, the private equity arm of ORIX Corporation, according to press releases. Financial terms were not disclosed.
Olympus Partners is advised by KPMG (led by Candice Lockhart) and Kirkland & Ellis (led by Mark Keohane and Matthew Goulding). ORIX Capital Partners is advised by Lazard and Herbert Smith Freehills Kramer, according to press releases.
Central Garden & Pet, a company that offers a wide range of products for the pet, lawn, garden, and outdoor living markets, and Axar Capital Management-backed Phillips Pet Food & Supplies, a distributor of pet food and supplies, agreed to form a joint venture, according to press releases. Financial terms were not disclosed.
Central Garden & Pet is advised by Ducera Partners and Orrick Herrington & Sutcliffe. Phillips Pet Food & Supplies is advised by Davis Polk & Wardwell (led by Evan Rosen, Natasha Tsiouris and Tierney O'Rourke), according to press releases.
World Insurance Associates, an insurance brokerage firm, completed the acquisition of C&A Insurance Agency, a provider of services for personal insurance, business insurance, and life/health insurance, according to press releases. Financial terms were not disclosed.
World Insurance Associates was advised by Giordano Halleran & Ciesla. C&A Insurance Agency was advised by Sica Fletcher and Satin and Lee, according to press releases.
Kingswood Capital Management, a private investment firm, completed the investment in Soulshine Farms, a provider of value‑added poultry processing and further‑processing services, according to press releases. Financial terms were not disclosed.
Kingswood Capital Management was advised by Barclays and Kirkland & Ellis. Soulshine Farms was advised by JGH Consulting, according to press releases.
Amazon, an American multinational technology company, that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence, agreed to merge with Globalstar, a provider of mobile satellite voice and data connectivity services, for $11.57bn, according to press releases.
Eli Lilly, a pharmaceutical company, agreed to acquire CrossBridge Bio, a biotechnology company, for $300m, from Linden Lake Labs, an early-stage life sciences platform committed to advancing innovative therapies, according to press releases.
CrossBridge Bio is advised by Cooley and Zwick Advisory, according to press releases.
Credo Technology Group, an innovator in providing secure, high-speed connectivity solutions, agreed to acquire DustPhotonics, a developer of silicon photonics product platforms and photonic integrated circuits for $750m, according to press releases.
HEICO Corporation, an aerospace and electronics company, completed the acquisition of 80% stake in Sherwood Aviation, an FAA and EASA Part 145 repair station specializing in the maintenance, repair, and overhaul (MRO) of complex, mission-critical mechanical and electro-mechanical components for defense and select commercial aviation platforms, according to press releases. Financial terms were not disclosed.
Mark Anthony Group, a Canadian producer and distributor of fine wine, premium spirits, and ready-to-drink beverages, completed the acquisition of The Long Drink, a refreshing ready-to-drink alcoholic beverage, according to press releases. Financial terms were not disclosed.
Mark Anthony Group was advised by Edelman (led by Erin Delahanty), according to press releases.
Stephens Group-backed Aptus Aero, a provider of maintenance, repair, and overhaul services for the aviation industry, completed the acquisition of Atlas Aerospace, company specializing in the repair and overhaul of key aerospace components, according to press. Financial terms were not disclosed.
Atlas Aerospace was advised by XLCS Partners, according to press releases.
Bond expands Bombardier jet order to $5bn. ( Bloomberg)
Private jet company Bond has increased its aircraft order commitment with Bombardier to about $5bn.
The move reflects a strategic shift toward premium long-range jets as demand from ultra-wealthy travelers grows.
Petrobras in talks to buy back Mataripe refinery from Mubadala. ( Reuters)
Petrobras is in early negotiations with Mubadala to repurchase the Mataripe refinery in Brazil as it reviews strategic assets.
The move follows government backing to reclaim key infrastructure, with discussions still at an initial stage.
United CEO pitches potential tie-up with American Airlines. ( Bloomberg)
United Airlines CEO Scott Kirby has floated a possible combination with American Airlines in discussions with senior officials.
It remains unclear whether any formal process has begun, with the idea still at an early and exploratory stage.
Goldman, Ardian acquire $1bn CIC private equity stakes. ( Bloomberg)
Goldman Sachs and Ardian have acquired about $1bn of US private equity fund stakes from CIC.
The sale was executed at discounts as CIC reduced exposure to private markets, with Ardian and Goldman emerging as winning bidders.
EMEA
Trasteel Holding, a supplier of raw materials and products for steelmaking and metallurgical industries, agreed to go public via SPAC merger with Sizzle Acquisition Corp II, a Cayman Islands publicly traded special purpose acquisition company, in a $1.3bn deal, according to press releases.
Trasteel Holding is advised by Young America Capital and Greenberg Traurig. Sizzle Acquisition Corp II is advised by Cantor Fitzgerald and Ellenoff Grossman & Schole, according to press releases.
UL Solutions, a company focusing on applied safety science, agreed to acquire electrical & electronics business of Eurofins Scientific, a provider of food, environmental, pharmaceutical, and cosmetic product testing services, for €575m ($673m), according to press releases.
UL Solutions is advised by UBS, according to press releases.
Camtek, a developer and manufacturer of inspection and metrology equipment for the semiconductor industry, agreed to acquire Visual Layer, a Tel Aviv-based AI company specializing in visual analytics, according to press releases. Financial terms were not disclosed.
Camtek is advised by EK Global Investor Relations (led by Ehud Helft), according to press releases.
I Squared and Blackstone mull joint bid for Ströer unit. ( Bloomberg)
I Squared Capital and Blackstone are considering a joint offer for Ströer’s core advertising business, including out-of-home and digital assets.
The consortium has resumed talks with the company after a previous attempt was dropped, with interest renewed following a decline in Ströer’s valuation.
Telecom Italia appoints Goldman Sachs and Evercore to review Poste Italiane bid. ( Reuters)
Telecom Italia has hired Goldman Sachs and Evercore to assess Poste Italiane’s cash-and-share offer to take the company private.
Legal advisers BonelliErede and Gatti Pavesi Bianchi Ludovici have also been appointed as the board evaluates the proposed transaction.
Manulife IM eyes Cellnex Swiss unit stake. ( Reuters)
Manulife Investment Management is in talks to acquire a stake in Cellnex’s Swiss business as the Spanish group revisits a potential divestment.
The buyer is working with advisers on the deal after a previous sale attempt was halted due to low bids.
Intertek explores breakup to unlock value. ( Bloomberg)
Intertek is considering a potential breakup of its business as part of a strategic review aimed at boosting valuation.
Options include separating or selling its energy and infrastructure divisions as the company evaluates ways to enhance shareholder value.
Golden Goose markets €880m bond to fund HSG buyout. ( Bloomberg)
Golden Goose has begun marketing a €880m ($1.04bn) bond sale to finance its acquisition by private equity firm HSG, advancing the buyout financing process.
The deal is testing investor appetite amid weak luxury demand and broader market uncertainty linked to geopolitical risks.
Stegra secures $1.4bn backing from Wallenberg-led group. ( Bloomberg)
Stegra has raised about $1.4bn from a Wallenberg-led investor group to support and stabilize its plant operations.
The funding will help sustain development of the project as the company navigates financial pressures and ongoing execution challenges.
APAC
Yancoal to acquire 80% stake in Kestrel mine for $2.4bn. ( Reuters)
Yancoal Australia has agreed to buy an 80% stake in the Kestrel coking coal mine in Queensland for up to $2.4bn.
The stake is being acquired from EMR Capital and Alamtri Resources Indonesia, strengthening Yancoal’s position in the coal sector.
CATL explores potential $5bn Hong Kong share sale. ( Reuters)
CATL is considering a Hong Kong share sale that could raise around $5bn following a strong stock rally as it looks to secure additional funding.
The company is in talks with banks on the structure and timing, with options including equity and convertible bonds under review.
Service Long files for record Pakistan IPO. ( Bloomberg)
Chinese tire venture Service Long has filed for a Pakistan IPO that could become one of the country’s largest listings.
The company is moving ahead with plans to tap public markets as investor demand for industrial assets grows.
Japan M&A boom drives record corporate bond issuance. ( Bloomberg)
Corporate bond sales in Japan are set to reach a record as companies raise funding to support increased M&A activity.
Issuance has surged despite geopolitical tensions, reflecting strong demand for capital in a shifting economic environment.
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