MergerLinks announces the release of 2024 Top Advisors Rankings. See all rankings and winners here. |
Top Highlights
US Steel and Nippon Steel filed a pair of lawsuits on January 6 accusing President Biden, the president of the steelworkers union and the chief executive of a rival company of conspiring to scuttle their $14.1bn tie-up.
The suit, filed in the US Court of Appeals for the District of Columbia, alleges that it was a political decision and violated the companies’ due process.
Coalesce Capital, a private equity firm focused on investing in business services companies, completed an investment in Pearl Meyer, an executive compensation and leadership consultancy. Financial terms were not disclosed.
Pearl Meyer was advised by Citizens M&A and Locke Lord. Coalesce Capital was advised by Ropes & Gray and Joele Frank (led by Ed Trissel).
Norfolk Iron & Metal, one of the nation's largest family-owned steel service centers, completed the acquisition of Straub Metal International, a stainless steel company. Financial terms were not disclosed.
Straub Metal was advised by Mufson Howe Hunter & Company and Ballard Spahr. Norfolk Iron & Metal was advised by Headwall Partners and Abrahams Kaslow & Cassman.
Deal Round up
AMERICAS
Clarios International plans major debt raise for shareholder payout. ( Bloomberg)
EMEA
SBI Holdings set to invest in in Solaris. ( Bloomberg)
Ackerley Sports Group targets Springboks' commercial rights again. ( Bloomberg)
APAC
Stonepeak-backed Digital Edge raises over $1.6bn in new equity and debt capital. ( Press Release)
LG CNS launches South Korea’s largest IPO in three years. ( Bloomberg)
Z Venture Capital launches $190m fund ZVC Fund II. ( Press Release)
|
COMPANIES
INVESTORS
FINANCIAL ADVISORS
LEGAL ADVISORS
PR ADVISORS
|
|
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
Hologic, a developer of innovative medical technologies that effectively detect, diagnose and treat health conditions, completed the acquisition of Gynesonics, a privately held medical device company focused on the development of minimally invasive solutions for women’s health, for $350m.
IonQ, a quantum computing and networking industry company, completed the acquisition of Qubitekk, a quantum networking company. Financial terms were not disclosed.
Qubitekk was advised by Calabasas Capital. IonQ was advised by Wilson Sonsini Goodrich & Rosati (led by Rich Mullen).
BWX Technologies, a nuclear technology company, completed the acquisition of aerojet ordnance Tennessee project from L3Harris, an American technology company, defense contractor, and information technology services provider, for $100m.
Investment companies Durable Capital Partners and T. Rowe Price led a $537m Series C round in KoBold Metals, a US-based mining startup.
S&P Global, a provider of essential intelligence, completed the acquisition of ProntoNLP, a provider of Generative Artificial Intelligence tooling. Financial terms were not disclosed.
Gallant Capital, a private equity firm that invests in technology, business services, and industrial companies, agreed to acquire government services business from Navient, a tech-enabled outsourced business processing to US federal, state, and local government clients. Finacial terms were not disclosed.
Clarios International plans major debt raise for shareholder payout. ( Bloomberg)
Clarios International, a Wisconsin-based car battery manufacturer, is exploring the possibility of raising new debt to distribute cash to its owners, including Brookfield Asset Management and the Canadian pension fund Caisse de Depot et Placement du Quebec.
The company is reportedly planning to secure several billion dollars for a dividend recapitalization, which could rank among the largest such deals over the past year. Clarios aims to finalize the transaction by the end of this quarter, using the proceeds to issue a special dividend to its shareholders.
EMEA
Lindsay, a global manufacturer and distributor of irrigation and infrastructure equipment, completed the acquisition of 49.9% stake in Pessl Instruments, a provider of advanced agricultural technology solutions. Financial terms were not disclosed.
Merck, a global pharmaceutical and chemical company, completed the acquisition HUB Organoids, an adult stem cell-derived organoids developer. Financial terms were not disclosed.
Elite, a provider of financial management and business operations solutions, completed the acquisition of Tranch, a B2B invoice automation and payments platform. Financial terms were not disclosed.
Merck, a global pharmaceutical and chemicals company, agreed to acquire an Ireland-based vaccine facility from WuXi Biologics, a global open-access biologics technology platform, for $500m.
Park Systems, a provider of nanoscale microscopy and metrology solutions, including atomic force microscopy, completed the acquisition of Lyncee Tec, a manufacturer of holographic microscopes intended for three-dimensional analysis. Financial terms were not disclosed.
SBI Holdings set to invest in in Solaris. ( Bloomberg)
Japan’s SBI Holdings has reportedly agreed to acquire a controlling stake of over 70% in Solaris as part of a €150m ($155m) fundraising round for the German fintech.
The deal, which includes €100m ($103m) from SBI and contributions from Boerse Stuttgart Group and existing investors, significantly lowers Solaris's valuation amid financial struggles. The transaction also features additional funding mechanisms, such as new AT1 bonds, aimed at stabilizing Solaris’s operations.
Ackerley Sports Group targets Springboks' commercial rights again. ( Bloomberg)
Seattle-based Ackerley Sports Group is renewing efforts to acquire a 20% stake in the commercial rights of South Africa's world champion Springboks rugby team, following an unsuccessful initial bid.
The group, with backing from South African sports minister Gayton McKenzie, plans to collaborate with approved South African consortiums to advance the deal.
APAC
Private equity firm CC Capital made an AUD2.9bn ($1.9bn) offer for Insignia Financial, an Australian financial services company, outbidding Bain Capital.
The board of Insignia Financial is evaluating the proposal. Bain's AUD2.67bn ($1.7bn) offer was rejected in December.
Insignia Financial is advised by Citigroup, Gresham and King & Wood Mallesons.
Paloma Rheem, a Japanese maker of oven ranges and water heaters, agreed to acquire Fujitsu General, a Japan-based global manufacturer specializing in air conditioning systems and climate control technologies, for JPY257bn ($1.6bn).
Stonepeak-backed Digital Edge raises over $1.6bn in new equity and debt capital. ( Press Release)
Digital Edge, a developer and operator of interconnection and hyperscale edge data centers across Asia and portfolio company of Stonepeak, an alternative investment firm specializing in infrastructure and real assets, raised over $1.6bn in new capital through a combination of equity and debt financing to fuel its next phase of growth.
The capital raise includes approximately $640m of equity investment from both existing and new investors as well as $1bn of total debt financing across multiple campus expansions.
Taiyo Holdings, a Tokyo-based chemical company, is reportedly exploring a merger with its larger industry peer, DIC. The potential deal, which would combine two major players in Japan's chemical sector, is in its early stages.
Taiyo is considering collaborating with private equity firm Japan Industrial Partners to structure the transaction. Both firms hired advisors to assist on the deal.
Historically, DIC has worked with EY, Morgan Stanley, White & Case and Jones Day, according to MergerLinks data.
LG CNS launches South Korea’s largest IPO in three years. ( Bloomberg)
LG’s technology services unit, LG CNS, has begun accepting orders for its highly anticipated initial public offering in Seoul, aiming to raise up to $816m. If successful, this would mark South Korea’s largest IPO in three years.
The company, known for its cloud services and warehouse management solutions, is taking bids until January 15. A total of 19.4m shares are being offered at a price range of $36.5 to $42.1 each. The shares are being sold by LG CNS and Macquarie Korea Asset Management, a key stakeholder in the business.
Z Venture Capital launches $190m fund ZVC Fund II. ( Press Release)
Japan venture capital firm Z Venture Capital has launched a new fund, ZVC Fund II Investment Limited Partnership (ZVC Fund II), with a total size of $190m. The fund will officially commence operations on January 1, 2025.
ZVC Fund II will focus on high-growth areas, including LY Corporation’s core sectors such as Media, Commerce, Fintech, and AI, as well as emerging DeepTech fields like space technology and robotics.
|
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.
|
|
|
|
|
