Top Highlights
Neuberger Berman-backed Marquee Brands, an American brand management company, completed the acquisition of Roots, a Canadian heritage outdoor and lifestyle brand, in a CAD161m ($115m) deal, according to press releases.
Neuberger Berman was advised by Latham & Watkins (led by Stelios Saffos). Marquee Brands was advised by RBC Capital Markets, Raymond James, Greenberg Traurig (led by Ejim Achi) and Miller Thomson (led by Max Spearn). JM&A Design and Development was advised by Fasken (led by Krisztian Toth) and Fazzari Partners. Debt financing was provided by BMO Capital Markets. Searchlig ht Capital Partners was advised by Osler Hoskin & Harcourt (led by Emmanuel Pressman). Roots Canada was advised by JP Morgan, Torys (led by John Emanoilidis) and FGS Global, according to press releases and MergerLinks data.
Ares Capital, a business development company, agreed to acquire MidCap Financial, a middle-market specialty finance firm that provides senior debt solutions, asset-based lending, and capital, for $2.6bn, according to press releases.
Ares Capital Corporation is advised by Wells Fargo Securities, Eversheds Sutherland, Kirkland & Ellis (led by Monica J. Shilling) and Latham & Watkins (led by Alexandra Croswell Kelly). Debt financing is provided by Wells Fargo Securities. MidCap Financial is advised by Moelis & Co, Simpson Thacher & Bartlett, Stradley Ronon Stevens & Young and Willkie Farr & Gallagher (led by Mark Cognetti), according to press releases.
Guidewire, a technology company that provides cloud-based core platforms, analytics, and AI solutions, agreed to acquire hyperexponential, an agentic platform provider of AI-native underwriting and pricing software for commercial lines property and casualty insurers, in a $2.1bn deal, according to press releases.
Guidewire Software is advised by Centerview Partners and Latham & Watkins (led by Richard A. Kline). Debt financing is provided by Bank of America and Citigroup. Hyperexponential is advised by JP Morgan and Wilson Sonsini Goodrich & Rosati, according to press releases.
AMERICAS
DoorDash near $17bn takeover of Instacart. ( Bloomberg)
Worldwide NFT announces signing LOI to acquire federal cybersecurity provider. ( Press Release)
Aspen Neuroscience, Bambusa Therapeutics launch US IPOs as biotech boom rolls on. ( Reuters)
EMEA
CPPIB said to explore sale of stake in Spain’s largest gas grid. ( Bloomberg)
Ben & Jerry’s founders have been exploring deal to separate company from Magnum. ( WSJ)
Universal Music discussed going private with buyout firms. ( Bloomberg)
Poundland close to collapse as new directors head for exit. ( Sky News)
Syngenta IPO aims for valuation of at least $66bn. ( Reuters)
APAC
CIMB said to attract BPI, Metrobank for Philippine unit sale. ( Bloomberg)
Anthropic’s IPO may see Australia’s biggest lender sitting on multi-billion windfall. ( Bloomberg)
Redotpay said to prepare confidential IPO filing by end of 2026. ( Bloomberg)
AI trade bounces back as Anthropic IPO eases funding jitters. ( Bloomberg)
|
COMPANIES
INVESTORS
FINANCIAL ADVISORS
LEGAL ADVISORS
PR ADVISORS
DEBT PROVIDERS
|
|
Read on...
Scroll down to read deal descriptions. Your suggestions and comments support the democratisation of M&A data. If you'd like to contribute to the future editions, drop us a line.
AMERICAS
Vertiv, a critical digital infrastructure specialist, completed the acquisition of UtilityInnovation Group, an energy sector consultancy, engineering, and infrastructure provider that specialises in microgrids, advanced power controls, and behind-the-meter power architecture, in a $2.6bn deal, according to press releases.
UtilityInnovation Group was advised by Morgan Stanley and Davis Polk & Wardwell (led by Harold Birnbaum). Vertiv Holdings is advised by JP Morgan, Buchanan Ingersoll & Rooney and Ruder Finn , according to press releases and MergerLinks data.
Bertram Capital, a private equity firm, completed the investment in Motion & Control Enterprises, a value-added distributor and service provider specialising in fluid power, flow control, automation, and compressed air solutions, according to press releases. Financial terms were not disclosed.
Bertram Capital was advised by BMO Capital Markets and Hirschler. Debt financing was provided by Antares Capital and Ares Capital. Motion & Control Enterprises was advised by Solomon Partners (led by Nick Troyer and Jason Kliewer), according to press releases.
ENEOS, a Japanese global petroleum and metals conglomerate, completed the acquisition of TPC Group, a Texas-based petrochemical processor and industrial supplier that specializes in the processing of crude C4 hydrocarbons, for $1.3bn, according to press releases.
ENEOS was advised by Jefferies & Co and Freshfields (led by Tomoko Nakajima). TPC Group was advised by Moelis & Co and Paul Hastings (led by Eduardo Gallardo and Jonathan Kubek), according to press releases and MergerLinks data.
Smithfield Foods, an American pork producer and food-processing company, completed the acquisition of Nathan's Famous, an American company operating a chain of fast-food restaurants, in a $450m deal, according to press releases.
Corxel Pharmaceuticals, an obesity drug developer, agreed to go public via a SPAC merger with Amanat Acquisition, a blank check company. Financial terms were not disclosed. PIPE investors include RTW Investments, New Enterprise Associates, SR One, Mirae Asset Capital, HBM Healthcare Investments, Nantahala Capital, Coastlands Capital, LifeSci Venture Partners, Invus, TCGX, RA Capital Management, Propel Bio and SilverArc Capital, according to press releases.
Corxel is advised by Cooley (led by Div Gupta) and LifeSci Communications. Amanat is advised by Leerink Partners and Goodwin (led by Jocelyn M. Arel), according to press releases and MergerLinks data.
La Caisse, an institutional investor, agreed to acquire a 49.9% stake in TowerCo, a newly formed wireless tower infrastructure company, from BCE, a communications company, for CAD2.45bn ($1.75bn), according to press releases.
BCE is advised by Citigroup and Paul Weiss Rifkind Wharton & Garrison (led by Tom Levine), according to press releases and MergerLinks data.
RadNet, an outpatient diagnostic imaging services provider and digital health solutions developer, agreed to acquire Housatonic Partners-backed ONRAD, a full-service radiology services provider, for $560m cash and 5m shares, according to press releases.
ONRAD is advised by Robert W Baird, according to press releases.
Ferring Pharmaceuticals, a specialty biopharmaceutical group, agreed to acquire Gameto, a female reproductive health-focused biotechnology company, for $1.38bn, according to press releases.
CapitalG and Emergence Capital led a $600m Series C round in Bedrock Robotics, a technology company that develops sensor, computing and machine-learning systems to automate heavy construction equipment, with participation from US Innovative Technology Fund, Bessemer Venture Partners, Temasek, 8VC, Georgian, Valor Equity Partners, Xora, Eclipse, Perry Creek Capital, and NVIDIA, according to press releases.
DoorDash near $17bn takeover of Instacart. ( Bloomberg)
DoorDash is in advanced talks to acquire Instacart's parent, Maplebear, in a transaction valued at approximately $17bn.
The potential acquisition could be announced as soon as this week, although negotiations remain ongoing and no definitive agreement has been reached.
Worldwide NFT announces signing LOI to acquire federal cybersecurity provider. ( Press Release)
Worldwide NFT has signed a letter of intent to acquire 100% of an undisclosed US government cybersecurity software and services provider based in the Mid-Atlantic region.
The target generates annual revenue in the high-single-digit millions of dollars, with EBITDA margins in the high 20% range. The proposed acquisition remains subject to due diligence and definitive agreements, with completion targeted by the end of 2026.
Aspen Neuroscience, Bambusa Therapeutics launch US IPOs as biotech boom rolls on. ( Reuters)
Biotechnology companies Aspen Neuroscience and Bambusa Therapeutics have launched roadshows for their planned US initial public offerings, joining a wave of drug developers seeking to capitalize on investor demand for biotech listings.
The launches come as the biotechnology sector remains a relatively active segment of the US IPO market, despite rising borrowing costs and volatile market conditions weighing on listings across other industries.
Motive Partners, an investment firm focused on technology-enabled companies, completed the acquisition of 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.
Mobius was advised by the lang cat (led by Mark Locke). Motive Partners was advised by Oliver Wyman, Lazard, PricewaterhouseCoopers and Proskauer Rose, according to press releases.
Truelink Capital, a Los Angeles-based private equity firm, agreed to acquire the global intrusion products business of Johnson Controls, a provider of smart building systems, fire protection, HVAC, and integrated building solutions, according to press releases. Financial terms were not disclosed.
Truelink Capital is advised by Evercore, according to press releases.
Intel, a multinational technology company that designs and manufactures computer processors and semiconductor chips, agreed to acquire Classiq, a Tel Aviv-based quantum computing software company that provides enterprise-grade technology for developing scalable quantum applications, according to press releases. Financial terms were not disclosed.
Amsons Group, a Pan-African energy and manufacturing conglomerate, completed the acquisition of the Tanzanian downstream petroleum business from Oryx Energies, an independent provider of energy products and services, for $230m, according to press releases.
CPPIB said to explore sale of stake in Spain’s largest gas grid. ( Bloomberg)
Canada Pension Plan Investment Board is considering selling its 12% stake in Nedgia, Spain’s largest gas distribution company.
The Canadian pension fund has begun preliminary discussions with financial advisers over a potential divestment of the holding, which it acquired for €900m ($1bn) in 2018. No final decision has been made on the sale.
Ben & Jerry’s founders have been exploring deal to separate company from Magnum. ( WSJ)
Ben & Jerry’s founders Ben Cohen and Jerry Greenfield are exploring a potential deal with an executive at private equity firm KKR to separate the ice cream brand from its current owner, Magnum Ice Cream Company.
Magnum, which also owns other former Unilever ice cream brands, is opposing the proposed separation, arguing that it would increase operating costs and lead to higher product prices.
Universal Music discussed going private with buyout firms. ( Bloomberg)
Universal Music Group is exploring a potential take-private transaction following preliminary discussions with major private equity firms including Apollo Global Management, TPG and Blackstone.
The world's largest record company, which has a market capitalization of approximately €29bn ($32bn), held initial talks with the investment firms earlier this year. Universal's board is aware of the discussions, although no formal offer has been announced.
Poundland close to collapse as new directors head for exit. ( Sky News)
Poundland is facing an increased risk of collapse as three directors appointed to oversee the British discount retailer’s emergency sale process prepare to resign following disagreements with majority owner Gordon Brothers.
The potential departures, less than two weeks after their appointments on October 15, could further complicate efforts to secure a buyer and avert insolvency, putting thousands of jobs at risk.
Syngenta IPO aims for valuation of at least $66bn. ( Reuters)
Syngenta is targeting a valuation of at least $66bn in its planned Hong Kong initial public offering, which is expected to take place in early 2027.
UBS and China International Capital Corporation are advising on the listing and marketing of the Swiss-Chinese agrochemicals group at 15 to 20 times its expected 2026 EBITDA.
APAC
CIMB said to attract BPI, Metrobank for Philippine unit sale. ( Bloomberg)
CIMB Group’s planned sale of its Philippine business has attracted interest from local lenders including Bank of the Philippine Islands and Metropolitan Bank & Trust.
Binding bids for the Malaysian banking group’s Philippine operations are expected before the end of October, with additional potential buyers also evaluating the assets.
Anthropic’s IPO may see Australia’s biggest lender sitting on multi-billion windfall. ( Bloomberg)
Commonwealth Bank of Australia could monetize its stake in Anthropic through the AI company’s planned US initial public offering, following a significant increase in the value of its investment.
The Australian lender participated in Anthropic’s Series E funding round in March 2025, with its holding valued at AUD153m ($107.5m) in June 2025. The stake’s value rose to AUD1.53bn ($1.07bn) by June 2026, following a subsequent funding round that valued Anthropic at AUD1.37bn ($965bn).
Redotpay said to prepare confidential IPO filing by end of 2026. ( Bloomberg)
Hong Kong-based cryptocurrency payments company Redotpay is considering filing confidentially for a US initial public offering by the end of this year, following months of preparations and regulatory discussions.
The company, which provides physical and virtual cards for cryptocurrency transactions, is also exploring a pre-IPO funding round that could value the business at between $4bn and $5bn.
AI trade bounces back as Anthropic IPO eases funding jitters. ( Bloomberg)
Anthropic’s IPO filing has boosted Asian semiconductor stocks, as investors anticipate sustained demand for AI infrastructure and computing equipment.
Samsung Electronics and SK Hynix gained more than 4% each, lifting South Korea’s Kospi index by as much as 4.9%. Japan’s Nikkei 225 rose up to 2.4%, with chip equipment maker Advantest climbing more than 9%, while semiconductor stocks in Taiwan and China showed mixed performance.
|
Connect the World of Dealmakers
Expand your network of fellow Dealmakers by inviting your colleagues and coworkers.
Join Now
If you know someone who might enjoy this briefing forward this email. Subscribe to a Daily Review.
|
|
|
|
|
