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AMERICAS
Better Collective, a digital sports media group, completed the acquisition Playmaker Capital, a digital sports media company, for €176m ($189m).
“Today the Playmaker family begins the next phase of our journey by joining the Better Collective family. As the teams have gotten to know each other over the past few months I have been inspired by the cultural fit and the excitement for this opportunity going forward by both teams. A special thank you to Jesper, Christian and the Better Collective team for the confidence you have shown in our team. We are as excited as ever to continue this journey with all of you. I would also like to thank all the Playmaker Shareholders for their support of Playmaker and look forward to their continued support of Better Collective as together we become the leading digital sports media group,” Jordan Gnat, Playmaker Co-Founder and CEO.
Better Collective was advised by PricewaterhouseCoopers, Moelis & Co, Bech-Bruun (led by Steen Jensen and Andreas Nielsen), Stikeman Elliott and Greenberg Traurig. Playmaker Capital was advised by Canaccord Genuity, Oakvale Capital, Goodmans and LodeRock Advisors.
Moneta Gold, a gold company, completed the merger with Nighthawk Gold, a gold developer. Financial terms were not disclosed.
“Today marks a historic moment as we complete the merger between two promising companies, creating a stronger, leading Canadian gold developer. The STLLR Gold era begins with two large-scale, cornerstone gold projects, a strong balance sheet, and an opportunity to create immense value for our combined shareholder base. We remain steadfast in our commitment to sustainable, collaborative and innovative practices, which we believe can enrich the communities where we operate. I extend my heartfelt thanks to everyone involved in realizing this vision, especially our dedicated teams and supportive stakeholders. With this merger, STLLR Gold is poised for robust growth, ready to redefine the standards of excellence in the gold mining industry,” Keyvan Salehi, Moneta Gold President, CEO and Director.
Moneta Gold was advised by Evans and Evans, Maxit Capital and McCarthy Tetrault (led by Eva Bellissimo). Nighthawk Gold was advised by Laurentian Bank Securities, SCP Partners and Cassels Brock & Blackwell (led by Lara Jackson and Alexander Pizale).
Clean Harbors, an environmental and industrial services provider, agreed to acquire HEPACO, a premier environmental and emergency services company, for $400m.
“The acquisition of HEPACO aligns with our Vision 2027 long-term strategic plan for driving growth through a continued focus on value creation across all areas of our business. We see an excellent cultural fit with our two organizations that should help ensure the success of this acquisition. HEPACO has demonstrated a commitment to safety, environmental compliance and service excellence that matches our principles in these areas. We look forward to welcoming HEPACO’s talented team to the Clean Harbors family,” Mike Battles, Clean Harbors Co-CEO.
Clean Harbors is advised by Davis Malm & D'Agostine. HEPACO is advised by Houlihan Lokey, Piper Sandler, Kirkland & Ellis and Moore & Van Allen.
Veracyte, a cancer diagnostics company, completed the acquisition of C2i Genomics, a minimal residual disease detection company, for $95m.
“Bringing C2i Genomics’ technology and team into Veracyte will allow us to make significant advances in our vision to transform cancer care for patients all over the world. C2i’s novel artificial intelligence-driven, whole-genome MRD platform will enable us to expand the value we deliver to clinicians and their patients, beginning with early cancer diagnosis and risk assessment, and now moving further along the patient journey into treatment monitoring and disease recurrence testing,” Marc Stapley, Veracyte CEO.
Veracyte was advised by Morgan Stanley, Latham & Watkins and Fenwick & West (led by Doug Cogen, Ran Ben-Tzur and Einat Meisel). C2i Genomics was advised by Perella Weinberg Partners and Meitar Law Offices.
Shiseido, a cosmetics company, completed the acquisition of Dr. Dennis Gross Skincare, a dermatologist-led, science-based prestige skincare products maker. Financial terms were not disclosed.
“Today’s milestone represents an exciting step toward our goal of becoming a leading personal beauty wellness company. Dr. Dennis Gross Skincare’s leadership in clean, innovative and science-based formulations and its loyal consumer following make it the perfect addition to the Shiseido Americas portfolio, and we look forward to working with the team with a focus on accelerating the brand’s growth plans,” Ron Gee, Shiseido President and CEO.
Shiseido was advised by Jones Day (led by David A. Grubman) and FGS Global (led by Emily Claffey). Dr. Dennis Gross was advised by Raymond James, Cowan DeBaets Abrahams & Sheppard and Morrison & Foerster (led by Patrick Huard).
Real Chemistry, a global health innovation company, completed the acquisition of Avant Healthcare, a nurse staffing and recruitment agency. Financial terms were not disclosed.
“Our clients are asking for more personalized, engaging, and timely medical communications that together, Avant and Real Chemistry will create. The life sciences industry is investing heavily in R&D and addressing increasingly complex diseases with robust new drug pipelines. These new therapies require significant HCP education and engagement to reach and benefit the patients who need them. At the same time, demographic changes happening with HCPs are having a profound effect on how companies need to effectively engage with them. Expanding our capabilities with Avant brings us even greater scientific expertise, strength, and creativity to partner with our clients to fully leverage the next generation of product breakthroughs in the next few years,” Shankar Narayanan, Real Chemistry CEO.
Avant Healthcare was advised by Houlihan Lokey and Bose McKinney & Evans.
Bounteous, an IT service management company, agreed to merge with New Mountain Capital-backed Accolite, a digital transformation services provider. Financial terms were not disclosed.
“This combination accelerates the realization of the vision Bounteous has been working toward since our founding: to become the world's preeminent digital innovation partner. Accolite shares our obsession with customer success and has an admirable track record of creating lasting value and impact for their clients. Together, we are re-shaping the landscape of digital transformation and helping businesses adapt and succeed in the age of the connected customer,“ Keith Schwartz, Bounteous Co-Founder and CEO.
Bounteous is advised by Purpose Worldwide. New Mountain Capital is advised by Houlihan Lokey.
Autodesk, an American multinational software corporation, agreed to acquire PIX business of X2X, a production management solutions provider. Financial terms were not disclosed.
"PIX acquisition would strongly deliver on both of these customer-driven outcomes by fostering broader collaboration and communication, as well as driving greater efficiencies in the production process to save customers time and money. The acquisition would also support Autodesk's vision to fully realize the potential of connecting pre- and post-production data for our customers through Flow, the Media & Entertainment industry cloud on Autodesk's Design and Make platform," Autodesk.
X2X is advised by JP Morgan.
ICONIQ Growth, a tech focused direct investment firm, led a $231m Series C round in NinjaOne, a unified IT management solutions provider, with participation from Frank Slootman and Amit Agarwal.
“ICONIQ Growth’s investment in NinjaOne is being used to make our customers more successful. We are quadrupling down on customer support, heavily investing in platform and product innovation to solve and automate more use cases, and ensuring the business can scale to meet our customers’ needs. We are in the decade of the endpoint, fueled by a wave of workers pushed remote and hybrid during and since the pandemic. Whether you are an MSP in charge of running and protecting other peoples’ businesses, or a CIO in charge of one, endpoints pose a significant risk and opportunity,” Sal Sferlazza, NinjaOne CEO and Founder.
Carrier Process Equipment Group, a material handling and processing equipment firm, completed the acquisition of Kinergy Corporation, a custom-engineered vibrating equipment manufacturer. Financial terms were not disclosed.
"The acquisition of Kinergy Corporation strengthens our leadership position in the critical food, specialty chemicals, minerals and recycling markets. This addition continues our growth strategy of expanding our product lines through a combination of acquisitions and new product development," Doug Schieber, CPEG President and CEO.
DNOW, a global stocking supplier of energy and industrial solutions, agreed to acquire Whitco Supply, a supplier of pipe, valves, fittings, and flanges. Financial terms were not disclosed.
“The acquisition of Whitco Supply aligns with our strategic objectives to diversify end-markets and is the result of our patient, disciplined approach to capital allocation. This transaction enhances our earnings and free cash flow profile and strengthens our ability to increase shareholder value,” David Cherechinsky, DNOW President and CEO.
Natura mulls new listing for Avon's business outside Latin America.
Brazilian cosmetics maker Natura said its board authorized management to study splitting its Avon brand outside Latin America, which could spawn a new listed firm managing the business outside the region, Reuters reported.
The split, whose details Natura said is still being evaluated, would be the latest of a series of moves Natura has made over the last year as it looks to simplify its structure, such as the divestment of its Aesop and The Body Shop brands.
Tellurian explores sale of upstream business to finance Driftwood LNG.
Natural gas company Tellurian is exploring the sale of its Haynesville upstream business, as it looks to raise capital for its Driftwood LNG project, Reuters reported.
The company has been trying to develop a 27.6m metric-tons-per-annum LNG plant, which has suffered multiple delays, in Lake Charles, Louisiana, and earlier said it sought help with balance sheet management and commercial structures.
Trinity Hunt Partners closes oversubscribed Fund VII at $700m. (FS)
Trinity Hunt Partners closed Trinity Hunt Partners VII at its hard cap of $700m in capital commitments. Fund VII was oversubscribed, with fundraising completed in less than five months.
“Our team is humbled by the enthusiastic support for Fund VII by our investors, particularly in the midst of a challenging fundraising environment industry-wide. It’s a testament to the hard work and ingenuity of our team. We are excited to continue to deploy our time-tested investment strategy, with the aim of providing the highest quality talent and capital solutions needed to significantly enhance the growth of small-cap services companies,” Blake Apel, Trinity Hunt Managing Partner.
Trinity Hunt was advised by Aviditi Advisors, Kirkland & Ellis and MiddleM Creative.
EMEA
AIT Worldwide Logistics, a provider of global supply chain solutions, completed the acquisition of Lubbers Logistics Group, a logistics company specializing in high-value, complex, and time-sensitive transport services. Financial terms were not disclosed.
“Lubbers' robust one-stop shop approach and their long-standing relationships with industry-leading customers make them an excellent fit for AIT. We see significant potential for their broad network by growing freight forwarding operations and energy sector expertise to further enhance AIT’s world-class customer experience. We’re also excited to boost our end-to-end solutions with middle mile service in Europe as a counterpart to our recently launched US Middle Mile Network,” Greg Weigel, AIT Chief Business Officer.
Lubbers Logistics Group was advised by Nielen Schuman and Loyens & Loeff (led by Antoinette van der Hauw). AIT Worldwide Logistics was advised by Kirkland & Ellis and NautaDutilh.
Novartis, a pharmaceutical company, agreed to acquire MorphoSys, a biopharma company, for €2.7bn ($2.9bn).
“We are excited about the opportunity of bringing pelabresib, a potential next-generation treatment combined with ruxolitinib, to people living with myelofibrosis, a rare and debilitating form of blood cancer. With the planned acquisition of MorphoSys, we aim to further strengthen our leading pipeline and portfolio in oncology, adding to our capabilities and expertise. Building on our long-standing development partnership with MorphoSys, we look forward to continuing our work together to realize the full impact and value of their investigational medicines for patients with unmet needs,” Shreeram Aradhye, Novartis President and Chief Medical Officer.
Novartis is advised by Freshfields Bruckhaus Deringer. MorphoSys is advised by Centerview Partners and Skadden Arps Slate Meagher & Flom.
Onex, a Canadian investment management firm, completed the acquisition of a majority stake in Morson Group, an engineering and technical staffing and workforce solutions company. Financial terms were not disclosed.
“We have found a true partner in Onex, and a team whose values are aligned with ours. Onex shares our vision. It has an impressive track record of helping companies to grow and we are confident about the contribution our new partner will make to achieving our goals,” Ged Mason, Morson Group CEO.
Onex was advised by JP Morgan.
AstraZeneca to invest $300m in US facility for cell therapies.
Pharmaceutical company AstraZeneca said it will invest $300m in a facility in Rockville, Maryland, for discovery and development of cell therapies, Reuters reported.
More than 150 jobs will be created at the site in the United States to initially focus on manufacturing the cell therapies to enable clinical trials to be conducted, adding that the site may expand its focus to support other disease areas.
Blackstone, BNP Paribas team up over private debt fund for retail investors. (FS)
Blackstone, the world's largest private equity firm, is partnering with BNP Paribas over a new fund financed by French individuals and aimed at investing in companies in private debt, Reuters reported.
The private credit market has gained prominence as an alternative source of financing for companies, especially those that may face challenges accessing traditional bank loans or prefer a more flexible and tailored financing structure.
Middle East grocery chain LuLu seeks pitches for $1bn IPO.
LuLu Group International, which operates one of the Middle East’s largest hypermarket chains, has invited banks to pitch for roles on a potential initial public offering that could raise at least $1bn, Bloomberg reported.
The conglomerate is considering plans for a dual listing in Riyadh and Abu Dhabi.
Aston Martin is hunting for a new CEO. (People)
British luxury carmaker Aston Martin is reaching out to current and former heads of automakers to succeed Amedeo Felisa as its chief executive officer, Reuters reported.
Aston Martin did not mention who the company has contacted or why it was looking to replace Felisa. Former Ferrari NV boss Felisa took the helm at Aston Martin in May 2022, succeeding Tobias Moers who stepped down after less than two years in the role.
Saudi Arabia taps former Dell executive to run $100bn firm. (FS, People)
Saudi Arabia named a former executive at Dell Technologies to lead a new investment firm backed by $100bn in capital from the Public Investment Fund, that’s been set up to plow money into everything from technology to semiconductors and capital goods, Bloomberg reported.
PIF aims for significant investments in chip manufacturing. The new entity Alat is set to announce first wave of deals with February.
APAC
KDDI plans a $3.3bn privatization of Lawson.
Japanese telecommunications operator KDDI plans to conduct a takeover bid for Lawson to take the convenience store chain private for $3.3bn.
Lawson is a subsidiary 50% owned by Mitsubishi. The Japanese trading company will not join the takeover bid. KDDI will purchase the remaining shares from general shareholders and jointly manage the company with Mitsubishi.
Foreign funds sold net $2.6bn of China equities in January.
Global investors continued to slash their exposure to China equities in January amid a protracted stock market rout despite depressed valuations, Reuters reported.
China and Hong Kong equities saw a combined $2.6bn net outflow from active long-only managers last month. That eased from $3.8bn in net outflows in December, but highlighted one of the major factors behind a dismal start to the new year for Chinese stock markets that has started to alarm regulators and other policymakers.
Telkom Indonesia looking to sell stake in data centre business.
Indonesia’s state-owned communication giant Telkom Indonesia is considering selling a stake in its data centre business and is expected to finish the selling process in the second half of this year, DealStreetAsia reported.
The group is in the process of selecting its financial adviser and considering how much stake to sell, Telkom Senior Vice President of Corporate Communication and Investor Relations Ahmad Reza said.
Hyundai said to be considering one of India’s biggest ever IPOs at $2.5bn.
Hyundai Motor is considering an initial public offering for its India unit that may raise about $2.5bn, potentially making it one of the biggest listings ever in the South Asian country, Bloomberg reported.
Hyundai has held talks with international banks about the possible IPO. The company may reach out to domestic advisers for pitches soon. A listing may value the Indian unit at $25bn.
Blackstone to back ex-Millennium Asia Co-CEO’s new hedge fund. (FS)
Blackstone agreed to back a new Asia-focused hedge fund headed by a former executive at Millennium Management, in one of the region’s biggest launches this year, Bloomberg reported.
Jonathan Xiong’s Arrowpoint Investment Partners is also in talks with other institutional investors as potential early backers. It’s expected to start with about $1bn.
ChrysCapital to raise $300m. (FS)
ChrysCapital Management is looking to raise as much as $300m for a new fund that will allow the buyout firm to hang on to its minority stake in India’s main stock exchange, Bloomberg reported.
The Indian private equity company is working with a team at UBS Group for a so-called continuation fund that will give it more time and capital to hold its investment in National Stock Exchange of India.
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