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AMERICAS

Kohlberg-backed Loenbro completes the acquisition of Prism Electric.

Kohlberg-backed Loenbro, an industrial services contractor and construction lifecycle partner, completed the acquisition of Prism Electric, an electrical contracting and industrial services company serving Texas and Oklahoma, according to press releases. Financial terms were not disclosed.

Loenbro is advised by Alvarez & Marsal, Evercore and Godfrey & Kahn. Prism Electric is advised by Glaucon Capital Partners and Hallett & Perrin, according to press releases.

Crane Company to acquire Trillium Pumps US from First Reserve-backed Trillium Flow Technologies for $240m.

Crane Company, an industrial manufacturing and technology company, agreed to acquire Trillium Pumps US, a provider of highly engineered pumping technologies, from First Reserve-backed Trillium Flow Technologies, a provider of engineered flow-control products and aftermarket services, for $240m, according to press releases.

First Reserve is advised by Joele Frank. Trillium Flow is advised by JP Morgan and Freshfields, according to MergerLinks data and press releases.

Carlyle-backed Avenrock Energy to acquire Parallax Energy from Carnelian Energy Capital.

Carlyle-backed Avenrock Energy, a newly formed Canadian energy company, agreed to acquire Parallax Energy, an upstream exploration and production company active in the East Shale Duvernay in Alberta, from Carnelian Energy Capital, a private equity firm specialised in the energy sector, according to press releases. Financial terms were not disclosed.

Carlyle and AvenRock Energy are advised by BMO Capital Markets and Torys, according to press releases.

Vermont Information Processing completes the acquisition of Encompass Technologies.

Vermont Information Processing, a technology partner to the food and beverage industry, completed the acquisition of Encompass Technologies, a provider of software solutions for the food and beverage industry, according to press releases. Financial terms were not disclosed.

Vermont Information Processing is advised by Kirkland & Ellis. Encompass Technologies is advised by Weil Gotshal & Manges, according to press releases.

Veracyte to acquire Convergent Genomics in a $180m deal.

Veracyte, a genomic diagnostics company, agreed to acquire Convergent Genomics, a genomic diagnostics company that uses DNA sequencing and machine learning to detect urologic cancers from urine samples, in a $180m deal, according to press releases.

Scion completes the acquisition of the operating business of Student Quarters.

Scion, an off-campus student housing communities owner and operator, completed the acquisition of the operating business of Student Quarters, an operator of purpose-built, campus-adjacent student housing properties, according to press releases. Financial terms were not disclosed.

Traxion executive president-linked firm plans tender offer. (Bloomberg)

A company linked to Grupo Traxion Executive President Aby Lijtszain Chernizky plans to launch a tender offer for up to 100% of the Mexican transportation and logistics company’s outstanding shares.

The voluntary offer is expected to be conducted through the Mexican Stock Exchange at an estimated price of MXN13.18 ($0.77) per share, potentially paving the way for Traxion to delist from the exchange.

SoftBank-backed SB Energy’s IPO seeks $500m in Japan. (Bloomberg)

SoftBank-backed data center operator SB Energy is targeting up to $500m from Japanese investors as part of its planned US initial public offering, tapping Japan’s deep pools of institutional capital.

The company is expected to begin taking investor orders as early as this month and plans to use the proceeds to develop and construct infrastructure including data centers and power plants. SB Energy, whose strategic investors include OpenAI and Nvidia, filed for the US listing earlier this month.

Sysco seeks to raise $1bn in share sale for Jetro deal. (Bloomberg)

Sysco is seeking to raise $1bn through a share sale to partially finance its $29.1bn acquisition of Jetro Restaurant Depot.

Goldman Sachs and Toronto-Dominion Bank are leading the equity offering for the Houston-based food service company.

UBS bolsters US Investment Bank with senior industrial hires. (Bloomberg)

UBS has made a series of senior hires for its investment banking business as the Swiss lender seeks to strengthen its industrial coverage across North America.

Matt Parr has been appointed vice chairman of global banking Americas and head of Midwest banking, focusing on diversified industrials and automotive. Adam Reeder is joining from Rothschild & Co as vice chairman of the global industrials group, with a focus on building products, materials and broader industrial sectors.

EMEA

Grupa Kęty to acquire Metra from KPS Capital Partners for €645m.

Grupa Kęty, a Polish aluminum products manufacturer, agreed to acquire Metra, an Italian manufacturer of complex extruded aluminum profiles, from KPS Capital Partners, an American investment company, for €645m, according to press releases

Grupa Kęty is advised by KPMG, Rothschild & Co and White & Case. Metra and KPS Capital Partners are advised by Bank of America, Barclays and Paul Weiss Rifkind Wharton & Garrison, according to press releases.

Main Capital Partners to acquire Tribal Group businesses for £189m.

Main Capital Partners, a private equity firm, agreed to acquire Tribal Group businesses, provider of education management software and services, for £189m, according to press releases.

Tribal Group is advised by Investec (led by Luke Spells), Singer Capital Markets (led by Sara Hale) and Alma Strategic Communications (led by Caroline Forde), according to MergerLinks data and press releases.

Sanofi to acquire a 26.4% stake in Cheplapharm.

Sanofi, a French multinational pharmaceutical and healthcare company, agreed to acquire a 26.4% stake in Cheplapharm, a German pharmaceutical company, according to press releases. Financial terms were not disclosed.

Cheplapharm is advised by JP Morgan, according to MergerLinks data and press releases.

Puig to acquire the remaining 50% stake in ISDIN from Esteve in a €1.20bn deal.

Puig, a global company specialising in the premium beauty industry, agreed to acquire the remaining 50% stake in ISDIN, an international pharmaceutical and skincare company based in Barcelona, from Esteve, a Spanish pharmaceutical company, in a €1.20bn deal, according to press releases. Financial terms were not disclosed.

A consortium of investors led a €200m Series A round in EUCLYD.

A consortium of investors including Samsung, Somerset Capital Partners, Scaleup Europe Fund and Innovation Industries, led a €200m Series A round in EUCLYD, a European semiconductor systems company developing ultra-efficient infrastructure for foundation AI models, with participation from the Export and Investment Fund of Denmark, imec.xpand, Brabant Development Agency, and Quadri, according to press releases.

OG Venture Partners led a $130m Series E investment in Buildots.

OG Venture Partners, a private equity firm, led a $130m Series E round in Buildots, an AI-powered construction intelligence software company, with participation from Lightspeed Venture Partners, Intel Capital, Mohari Ventures, Human Capital, Qumra Capital, Avigdor Willenz, Viola Growth and Poalim Equity, according to press releases.

S&P Global led a $110m Series B extension in Kaiko.

S&P Global led a $110m Series B extension in Kaiko, a financial data and infrastructure company, with participation from BNP Paribas, Bpifrance, Broadridge, Canton Foundation, Coinbase Ventures, DRW Venture Capital, Nasdaq Ventures, Royal Bank of Canada, Stellar, Susquehanna Private Equity, Anthemis, Point Nine, and Revaia, according to press releases.

Poste CEO sees larger Telecom Italia stake after offer wins 66.6% backing. (Reuters)

Poste Italiane expects to increase its controlling stake in Telecom Italia (TIM) when its takeover offer reopens later this month, after securing 66.6% of the former national phone monopoly during the initial offer period.

The bid will reopen from September 21 to 25, giving remaining shareholders another opportunity to tender their shares. Poste recently increased the cash component of its offer by 18% to €1.97 ($2.33) per share while maintaining an exchange ratio of 0.218 newly issued Poste shares for each TIM share, valuing the transaction at around €13bn ($15.4bn).

Vista Equity exploring strategic options for financial software provider Finastra. (Reuters)

Vista Equity Partners is exploring strategic options for financial software provider Finastra, including a potential full or partial sale of the business. The company could attract a valuation ranging from the high-single-digit billions to as much as $12bn.

Vista has appointed Morgan Stanley to advise on the process, with other options including a merger with another industry player or an acquisition by Finastra. Blackstone is among the potential bidders evaluating the London-based company, which provides payments, lending and corporate banking software to financial institutions globally.

Asian PE firms circle €1bn racing brand Alpinestars. (Bloomberg)

Italian motorcycle protection gear maker Alpinestars is attracting takeover interest from Asian private equity firms including FountainVest and HSG as the company explores a potential sale.

Alpinestars is working with a financial adviser on the process, which could value the business at around €1bn ($1.2bn). FountainVest and HSG are among the potential bidders considering separate offers for the company.

Germany, UniCredit say Commerzbank talks were ‘constructive’. (Bloomberg)

German Finance Minister Lars Klingbeil and UniCredit CEO Andrea Orcel held talks over the Italian lender’s proposed takeover of Commerzbank as the German government outlined its expectations for any potential transaction.

Germany wants Commerzbank to remain a publicly listed company headquartered in Frankfurt and to preserve its strong lending business with small and medium-sized companies in Germany and internationally.

Essity said to prep for tissue exit with sale, listing on table. (Bloomberg)

Essity is preparing to launch a sale process for its consumer tissue business as soon as next month, following activist investor Cevian Capital’s acquisition of a minority stake in the Swedish company.

The division, which produces toilet paper, tissues and napkins under brands including Lotus, Tempo and Cushelle, could be valued at between €2.5bn ($3bn) and €3bn ($3.6bn). Industry buyers and private equity firms are expected to participate in the sale process.

Europe IPOs must raise $5bn this fall to beat 2025’s haul. (Bloomberg)

European stock exchanges need to raise a further $5bn from initial public offerings by the end of the year to surpass the region’s 2025 total, as issuers contend with a market where listings remain vulnerable to delays.

The autumn IPO pipeline could push proceeds beyond last year’s $16.7bn total, although only a limited number of billion-dollar offerings remain in preparation. European IPO activity improved in 2025 but remained below historical levels.

UK banks kick off fundraising in bid to create new payments giant. (Sky News)

Britain’s largest banks are preparing to raise tens of millions of pounds to support the development of a new domestic payments infrastructure platform that could eventually provide an alternative to Mastercard and Visa.

The newly established UK Payments Delivery Company will launch an equity fundraising process aimed at financing the development of the country’s future payments utility.

PSG Equity holds final close of third European fund at over €4.4bn. (Press Release)

PSG Equity has raised more than €4.4bn ($5.2bn) for its third Europe-focused growth equity fund, reaching its hard cap with commitments from investors including state pension funds, sovereign wealth funds, insurers and family offices.

PSG Europe III is significantly larger than its €2.6bn ($3.1bn) predecessor, which closed in 2023. The fund will invest in European software and technology companies, with a focus on businesses using AI and emerging AI-native companies.

APAC

Macquarie Asset Management completes the acquisition of a 37.5% stake in Maple InvIT from La Caisse for $450m.

Macquarie Asset Management, a private equity firm, completed the acquisition of a 37.5% stake in Maple InvIT, a highway construction company, from La Caisse, a private equity firm, for $450m, according to press releases.

Macquarie was advised by Ambit (led by Rahul Mody and Raman Gupta), A&O Shearman, S&R Associates and Talwar Thakore & Associates (TT&A) (led by Gautam Saha and Shivranjani Ralawata). La Caisse was advised by Freshfields, according to MergerLinks data and press releases.

Calvary-led consortium to acquire 25 hospitals from Healthscope for c. A$450m.

Calvary-led consortium comprising Healthe Care, ACURIO Health and KnG Group agreed to acquire a portfolio of 25 hospitals from Healthscope, a healthcare provider, for c. A$450m ($321m), according to press releases.

Calvary Health Care is advised by Jefferies & Company and Gilbert + Tobin. Healthscope is advised by Houlihan Lokey, McGrathNicol and Ashurst Perkins Coie, according to MergerLinks data and press releases.

Grab to acquire a 60% stake in Atome Financial from Advance Intelligence for $1.49bn.

Grab, a Singapore-based technology company offering a multi-service super app, agreed to acquire a 60% stake in Atome Financial, a financial technology company that operates one of the largest digital consumer financing and buy-now-pay-later platforms in Southeast Asia, from Advance Intelligence, an AI-driven technology and financial services company, for $1.49bn.

Advance Intelligence Group is advised by HSBC, UBS and A&O Shearman, according to press releases.

CATL gets approval for battery deal in consolidation push. (Bloomberg)

Contemporary Amperex Technology (CATL) has received regulatory approval to acquire a stake in Chongqing Yaoning New Energy Technology, a battery company backed by Geely Automobile, as China encourages greater consolidation across the sector.

CATL will acquire an undisclosed stake in Chongqing Yaoning, which is currently developing a battery manufacturing plant. The transaction has been cleared by China’s State Administration for Market Regulation.

Ex-Green SM CEO picks 85% stake in Vietnamese EV startup AVES. (Deal Street Asia)

Former Green SM CEO Nguyen Van Thanh has acquired an 85% stake in newly established Vietnamese electric vehicle startup AVES Technology & Green Energy for VND25.5bn ($1.1m). The Hanoi-based company was incorporated on September 9 with charter capital of VND30bn ($1.14m).

AVES plans to develop smart electric vehicles, renewable energy products and Internet of Things devices, with electric two-wheelers expected to be its first commercial products in summer 2027. The startup also plans to establish a research and development center in Hung Yen province.

Eclat Health is said to consider $300m India IPO. (Bloomberg)

Eclat Health Solutions is considering an initial public offering in India that could raise up to $300m.

The healthcare revenue-cycle management company has begun preliminary discussions with investment banks and is expected to appoint advisers for the potential listing. The offering could include a combination of new shares and stock sold by existing shareholders.

Goldman, Templeton, Fidelity said to plan buying into NSE IPO. (Bloomberg)

Goldman Sachs Asset Management, Franklin Templeton and Fidelity International are among the global investors expected to participate as anchor investors in the National Stock Exchange of India’s planned initial public offering, which could raise up to INR226bn ($2.4bn).

Norges Bank Investment Management, Abu Dhabi Investment Authority, GIC, Eastspring Investments, Millennium Management, Marshall Wace, Citadel Capital and Ghisallo Capital Management are also expected to participate in the anchor book ahead of the listing.

Tata Sons’ listed shareholders rally after RBI renews IPO push. (Bloomberg)

Shares of Tata Group companies holding minority stakes in Tata Sons surged after India’s banking regulator declined to exempt the conglomerate’s holding company from requirements that could force it to pursue a public listing.

Tata Chemicals gained as much as 20%, its biggest increase since 2009, while Tata Investment rose 10.4% and Tata Motors Passenger Vehicle climbed as much as 6.3%. Tata Capital’s dollar bonds also extended losses as investors assessed the potential impact of changes to the group’s ownership structure.

Vietnam’s 3V Partners eyes $300m for debut PE fund. (Deal Street Asia)

Vietnamese investment firm 3V Partners and Hanoi Innovation Center are seeking to raise $300m for their debut private equity vehicle, Vietnam Go Global Fund I, targeting established local companies.

The fund is targeting a first close of between $50m and $100m this year, followed by a final close in 2027. The vehicle adds to Vietnam’s private equity fundraising pipeline as managers seek capital for investments in growing domestic businesses.

AI chip darling Biren said to mull $1bn share sale. (Bloomberg)

Shanghai Biren Technology is considering raising about $1bn through a new share sale to support the expansion of its artificial intelligence chip business.

The Chinese graphics processing unit developer is in the early stages of evaluating the fundraising, with banks beginning to gauge interest from potential investors. The financing would provide additional capital for Biren’s efforts to expand its AI technology and compete in China’s growing domestic semiconductor market.

Minebea Mitsumi pauses M&A to chase AI, Nvidia demand for components. (Bloomberg)

Minebea Mitsumi is pausing acquisitions to focus on expanding production of ball bearings, motors and actuators used in AI-related hardware as it seeks to capitalize on growing demand from emerging technologies.

The Japanese manufacturer, a key supplier to Nintendo, is targeting opportunities linked to expanding data center infrastructure and humanoid robots and currently has no plans to pursue further deals.

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