Fathom Digital Manufacturing, one of the largest on-demand digital manufacturing platforms in North America, went public via a merger with Altimar Acquisition II, a special purpose acquisition company sponsored by an affiliate of HPS Investment Partners, in a $1.5bn deal.
"With Industry 4.0 taking off, we believe Fathom is on the cusp of a significant growth opportunity, and we're thrilled to be combining with Altimar as we make our public market debut and move into our next chapter. With our strong business profile and solid balance sheet, we see an opportunity to continue scaling up our capabilities in both on-demand additive and advanced traditional manufacturing. Product lifecycles are so much shorter than they were even five years ago, and companies need an on-demand advanced manufacturing partner who can move quickly and serve all their requirements without sacrificing quality. We believe we are well-positioned to become that manufacturing partner of choice for more clients," Ryan Martin, Fathom CEO.
Fathom was advised by JP Morgan, Stifel, Winston & Strawn and Prosek Partners. Altimar was advised by Bank of America, Craig-Hallum Capital Group, Needham & Co and Paul Weiss Rifkind Wharton & Garrison.
CompoSecure, a provider of premium financial payment cards and emergent provider of cryptocurrency storage and security solutions, went public via a merger with Roman DBDR Tech Acquisition, a special purpose acquisition company, in a $1.2bn deal. Investment companies BlackRock and Highbridge Capital Management led the $175m PIPE.
“CompoSecure is a world-class platform for next generation payment technology, security, and cryptocurrency solutions. Its distinct value proposition has resulted in widespread adoption by major banks, financial institutions and emerging FinTechs to support their acquisition of payment card customers. We believe this is a platform company that can launch successfully into the digital asset and blockchain markets with a proven product," Dixon Doll, Jr, Roman DBDR Co-CEO.
CompoSecure was advised by Financial Technology Partners, Morgan Lewis & Bockius, ICR and Olmstead Williams Communications. Roman DBDR Tech Acquisition was advised by B. Riley FBR, Barclays, JP Morgan, The Klein Group and Goodwin Procter. Financial advisors were advised by Simpson Thacher & Bartlett.
Novo Nordisk, a healthcare company, completed the acquisition of Dicerna, a biopharmaceutical company, for $3.3bn.
“The acquisition of Dicerna accelerates Novo Nordisk’s research within RNAi and expands the usage of the RNAi technology. We build on our successful collaboration and by combining Dicerna’s state-of-the-art RNAi drug engine and intracellular delivery with our deep capabilities in disease biology understanding and tissue targeting through peptides and proteins we have the potential to expand our pipeline and deliver life-changing precision medicines for people living with chronic diseases such as diabetes, obesity, cardiovascular disease and NASH, as well as rare diseases like endocrine disorders and bleeding disorders," Marcus Schindler, Novo Nordisk Executive Vice President and Chief Scientific Officer.
Dicerna was advised by Centerview Partners, SVB Leerink, Goodwin Procter and Skadden Arps Slate Meagher & Flom. Novo Nordisk was advised by Evercore and Davis Polk & Wardwell.
Vista Outdoor, a global designer, manufacturer and marketer of products in the outdoor sports and recreation markets, agreed to acquire Stone Glacier, a premium brand focused on ultralightweight, performance hunting gear. Financial terms were not disclosed.
"I am excited to welcome the Stone Glacier team into the Vista Outdoor family. Stone Glacier is an enthusiast brand that is fast-growing, well-managed and a great cultural fit. Our centers of excellence, brand portfolio and distribution network will support Stone Glacier as they reach their next level of awareness, maturity and growth. Stone Glacier enhances our ability to enter and leverage the camping category, which has exploded in popularity over recent years. The acquisition also further bolsters our reputation as the acquirer of choice in the outdoor industry," Chris Metz, Vista Outdoor CEO.
Stone Glacier is advised by Davis Graham & Stubbs. Vista Outdoor is advised by Reed Smith.
Sentinel Capital Partners, an American private equity firm, agreed to acquire TTG Imaging Solutions, a provider of nuclear medicine and molecular imaging equipment, service, and parts. Financial terms were not disclosed.
"Since its founding, TTG has built a reputation of providing best-in-class services that allow physicians, imaging centers, and hospitals to offer top-quality patient care. The TTG team has developed an impressive growth playbook and we are thrilled to provide them the capital and support to significantly expand the business. We look forward to working with TTG's talented team as they enter their next chapter of growth," Paul Murphy, Sentinel Partner.
TTG Imaging Solutions is advised by Harris Williams & Co.
Bowman Consulting Group, an engineering services firm, agreed to acquire Terra Associates, a provider of civil design and engineering solutions. Financial terms were not disclosed.
"Choosing to join Bowman was an easy decision. Bowman's approach to growth is very exciting to all of us at Terra. We've gotten to know the leadership at Bowman over the course of the acquisition process and we all feel very comfortable with the decision. Their commitment to helping our leadership and staff grow without changing the core of who we are is a big part of what makes us excited about this opportunity. The opportunity to be a part of an entrepreneurial public company is both exciting and energizing. We are all looking forward to the future as a Bowman company," Vickie Henkel, Terra CEO.
Keter Environmental Services, a full-service recycling and waste management company, agreed to acquire M-PASS Environmental, an Atlanta-based independent waste management and recycling solutions company. Financial terms were not disclosed.
“Customers of both Keter and M-PASS stand to benefit tremendously from the combination of our platforms. M-PASS has built a reputation for quality, reliability, and efficiency across a broad range of sectors. The addition of M-PASS represents the continuation of our growth strategy as we seek to enhance our capabilities and deliver our full suite of services into new industries and geographies,” Steven Schlussel, Keter CEO.
Curaleaf, an international provider of consumer products in cannabis, agreed to acquire Bloom Dispensaries, a vertically integrated, single state cannabis operator in Arizona, for $211m.
"We are pleased to continue Curaleaf's expansion in the state of Arizona with the acquisition of Bloom. In addition to bolstering our strong position in this key growth market with an attractive portfolio of retail and cultivation assets, Bloom will be immediately accretive to our adjusted EBITDA margins upon close. On behalf of the Board of Directors and management team, I look forward to welcoming Bloom to the Curaleaf family," Boris Jordan, Curaleaf Executive Chairman.
Huron Capital, a middle-market private equity firm, completed the acquisition of TriStruX, a provider of telecom infrastructure services to wireless carriers, cable companies and OEMs. Financial terms were not disclosed.
"Huron's investment will help us grow to be one of the strongest Telecom services providers in the market. I am so proud of the quality company we have built, but we are stronger and more nimble with Huron's backing," Nicholas J. Leone, Vice Chairman and COO.
LiveOne, a global platform for livestream and on-demand audio, video and podcast/vodcast content in music, comedy and pop culture, agreed to acquire Trader2B, a trading platform. Financial terms were not disclosed.
"We are excited to gamify LiveOne and offer our 100m + audience the ability to win over $1m in prizes. This new platform will offer LiveOne memberships exclusive and original opportunities while keeping members informed about new artists, concerts, events, and industry news," Robert Ellin, LiveOne Chairman and CEO.
Clariant, a Swiss specialty chemicals maker, agreed to acquire North American assets of BASF, a German multinational chemical company, for $60m.
“This acquisition fits very well with our growth strategy to grow through sustainability-focused innovations and bolt-on acquisitions. This acquisition will further nicely extend the footprint of our Functional Minerals business in North America and will further improve Clariant’s position in renewable fuels purification,” Conrad Keijzer, Clariant CEO.
Trulieve, a cannabis company, agreed to acquire PurpleMed Healing Center, a state approved medical marijuana dispensary. Financial terms were not disclosed.
"Trulieve is excited to expand our footprint in Tucson and add a second location in the state's second largest market. We look forward to serving patients and customers at both of our Tucson-area locations and building strong relationships in the community," Kim Rivers, Trulieve CEO.
Telefonica buys Ericsson 5G equipment to replace Huawei gear.
Telefonica bought 5G network equipment from Swedish manufacturer Ericsson to replace some of the Huawei gear it has rolled out in Spain, Reuters reported. The replacement of the next-generation mobile network equipment is part of Telefonica's strategy announced in 2019 to diversify suppliers.
Expansion said the telecoms company has initially rolled out some Huawei equipment that it had already bought before seeking to secure alternative supplies.
Ferrari creates digital products with Velas.
Ferrari signs a multi-year accord with Swiss technology firm Velas Network to create digital content for its fans, Reuters reported. From next season, Velas, a provider of digital products and services, will become a partner of Ferrari's Formula 1 racing team.
"In addition, Velas will be title sponsor of the Ferrari Esports Series, the online mono-brand series of the Prancing Horse, and of the Esports team that will compete in the F1 Esports Series, the official digital championship competed in by all teams participating in the FIA Formula 1 World Championship," Ferrari.
Marsh, an insurance broker and risk advisor, agreed to acquire an additional stake in Marsh India Insurance Brokers, its India-based unit. Financial terms were not disclosed.
The enhanced investment will enable Marsh to more effectively meet the increasingly complex needs of companies across all sectors of the fast-growing Indian economy and provide a platform from which it can further strengthen its presence in the future.
Bank of Ningbo, a Chinese city-based commercial bank, agreed to acquire a 70% stake in consumer finance unit of China Huarong Asset Management, a China-based company mainly engaged in asset management business, for $172m.
After the completion of the deal, Huarong Consumer Finance will no longer be a subsidiary of China Huarong, according to a statement filed to Hong Kong Stock Exchange.
Sanctioned former Angolan General exits Puma Energy stake.
Cochan Holdings ceased to be a shareholder of Puma Energy Holdings, the fuel retailer said, weeks after the investment vehicle founded by former Angolan General Dino was added to a US sanctions list.
The US Treasury Department on December 9 added Leopoldino Fragoso do Nascimento, known as General Dino, and his companies to its specially designated nationals list. Individuals on the list have their assets blocked and US persons are generally prohibited from dealing with them, Reuters reported.
CICC and Ascent plan to create a $3bn joint investment platform. (FS)
CICC Capital, the private equity fund management platform of Hong Kong-listed investment bank China International Capital, tied up with Korea’s cross-border investment firm Ascent Capital to set up a private equity investment platform with a total corpus of $3bn, DealStreetAsia reported.
“Through the joint investment fund, not only will we expect it can help Korea’s companies enter to China market, but also we hope the Korean enterprises can introduce new technology and business models to China and society,” Bingyin Piao, Ascent Capital CEO.
Indian bankers collect record high fees from $18bn in IPOs.
Indian investment bankers collected almost $347m in fees from local initial public offerings that have reached an all-time high in 2021, Bloomberg reported.
A little over 110 companies ranging from online grocers to food delivery and beauty startups listed their shares in Mumbai this year, raising almost $18bn. The fees raked in by banks steering those first-time share sales are more than four times the previous record in 2017.
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