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AMERICAS
TowerBrook Capital, an investment management firm, and Prelude Growth Partners, a consumer-focused growth equity firm, agreed to invest in Amylu Foods, a manufacturer of all-natural, value-added protein products, according to press releases. Financial terms were not disclosed.
Amylu Foods is advised by JP Morgan, Winston & Strawn and Startr Co. TowerBrook is advised by Benefit Street Partners, MidCap Financial Services, Sidley Austin (led by Brien M. Wassner) and Brunswick Group (led by Alex Yankus). Debt financing is provided by Eldridge Industries, Stifel, Sumitomo Mitsui Banking and Willow Tree Credit Partners, according to MergerLinks data and press releases.
Horizon Technology Finance, a specialty finance company, agreed to merge with Monroe Capital Corporation, a publicly-traded specialty finance company, according to press releases. Financial terms were not disclosed.
Monroe Capital is advised by Houlihan Lokey, Nelson Mullins Riley & Scarborough and BackBay Communications. Horizon Technology is advised by Oppenheimer & Co, Blank Rome and ICR (led by Garrett Edson). Monroe Capital is advised by Keefe Bruyette & Woods, Dechert and Eversheds Sutherland, according to MergerLinks data and press releases.
CapVest-backed Datasite, the global SaaS provider of AI-powered workflow collaboration and automation solutions for M&A, investment, and strategic projects, completed the acquisition of Sourcescrub, a California-based provider of deal-sourcing data and workflows, from Francisco Partners, a private equity firm, according to press releases. Financial terms were not disclosed.
Centerbridge Partners, a global investment firm, agreed to acquire MeridianLink, a provider of modern software platforms for financial institutions and consumer reporting agencies, for $2bn, according to press releases.
MeridianLink is advised by Centerview Partners, JP Morgan, Goodwin Procter and Joele Frank. Centerview is advised by Sullivan & Cromwell (led by Mitchell S. Eitel). Centerbridge is advised by Goldman Sachs, Kirkland & Ellis and Kekst CNC (led by Jeremy Fielding), according to MergerLinks data and press releases.
An investor consortium, including K5 Global, Bezos Expeditions, Wellington Management, Alpha JWC Ventures, Alpha Wave Ventures, Venture Investors Health Fund, Lumira Ventures, Hatteras Venture Partners, Early Stage Partners, Amzak Health, HealthQuest Capital, Yonjin Venture, the State of Wisconsin Investment Board, the State of Michigan Retirement System and JJDC, agreed to acquire HistoSonics, a medical device company, for $2.25bn, according to press releases.
HistoSonics is advised by Citigroup, Fox Rothschild, Wilson Sonsini Goodrich & Rosati (led by Michael Danaher and Philip Oettinger) and KKH Advisors (led by Kimberly Ha). The investor consortium is advised by Morgan Stanley, Cooley (led by Patrick Loofbourrow) and Orrick Herrington & Sutcliffe (led by Max Cantor), according to MergerLinks data and press releases.
Apollo, an alternative investment manager, agreed to acquire a majority stake in Trace3, an IT solutions provider that offers a range of products and services including cloud solutions, cybersecurity, data intelligence, IT infrastructure, and telecommunications, from American Securities, a US private equity firm, according to press releases. Financial terms were not disclosed.
Advent, a global private equity investor, agreed to acquire Sapiens, a SaaS-based software solutions company, for $2.5bn, according to press releases.
DigitalBridge Group, a global alternative asset manager, and Crestview Partners, a private equity firm, agreed to acquire WideOpenWest, a broadband provider, in a $1.5bn deal, according to press releases.
Hubbell, an American company that designs, manufactures, and sells electrical and electronic products, agreed to acquire DMC Power, a company specializes in providing high voltage and extra high voltage transmission and substation connectors, from Golden Gate Capital, a private equity company, for $825m, according to press releases.
Hubbell is advised by Stephens and Holland & Knight. Golden Gate Capital is advised by Harris Williams & Co, Lincoln International, Paul Weiss Rifkind Wharton & Garrison (led by Jeremy M. Veit) and FGS Global, according to press releases and MergerLinks data.
26North Partners, an integrated, multi-asset class investment platform, completed the acquisition of a majority stake in AVI-SPL, an audio-video and unified communication technologies provider, from Marlin Equity Partners, a private equity firm. Financial terms were not disclosed.
AVI-SPL was advised by Guggenheim Partners, William Blair & Co and Goodwin Procter. 26North Partners was advised by Silver Point Capital, Santander and Kirkland & Ellis, according to press releases.
Shamrock, an investment firm, completed the acquisition of Penta Group, a stakeholder communications and reputation intelligence firm, from Falfurrias, a private equity investment firm, according to press releases. Financial terms were not disclosed.
Penta was advised by Canaccord Genuity and McGuireWoods. Shamrock was advised by BrightTower (led by Amir Akhavan) and Morrison Foerster (led by Patrick Huard), according to MergerLinks data and press releases.
BV Investment Partners, a private equity firm, completed a majority investment in The Millennium Alliance, a peer-to-peer executive events platform, according to press releases. Financial terms were not disclosed.
The Millennium Alliance was advised by BrightTower (led by Sam Barthelme). BV was advised by Ropes & Gray (led by Paul Sullivan) and Chris Tofalli Public Relations (led by Chris Tofalli), according to MergerLinks data and press releases.
Falfurrias Management Partners, a private equity firm, completed the acquisition of Woven Solutions, a provider of technology and software solutions, according to press releases. Financial terms were not disclosed.
Woven Solutions was advised by Robert W Baird and Miles & Stockbridge. Falfurrias was advised by Holland & Knight, according to MergerLinks data and press releases.
Littlejohn and Platinum Equity-backed The Cook & Boardman, a provider of fully integrated access and security solutions, agreed to acquire AJ Labourdette, a telecom service provider, according to press releases. Financial terms were not disclosed.
AJ Labourdette is advised by Legacy Capital. The Cook & Boardman is advised by K&L Gates, according to press releases.
Searchlight, a private equity firm, completed the investment in Chord Music Partners, a management and acquisition platform for music intellectual property, according to press releases. Financial terms were not disclosed.
Rainier Partners-backed Wilmar, a distributor of professional tools, completed the acquisition of EZRED, a designer, manufacturer, and distributor of lighting, tool organization and hand tools for the automotive aftermarket, according to press releases. Financial terms were not disclosed.
EZRED was advised by Fairmount Partners (led by Jonathan Smith and Bill Frame) and Sherman Atlas Sylvester & Stamelman. Rainier Partners was advised by MiddleM Creative (led by Jan Morris), according to press releases.
Quad-C, a private equity firm, completed the investment in O6 Environmental, a provider of environmental services, according to press releases. Financial terms were not disclosed.
Quad-C was advised by Piper Sandler. O6 Environmental was advised by Harris Williams & Co, according to press releases.
Nexa Equity, a private equity firm, agreed to invest in Facility Grid, a provider of cloud-based software, according to press releases. Financial terms were not disclosed.
Nexa Equity is advised by Weil Gotshal and Manges and Gasthalter & Co (led by Mark Semer and Nathaniel Garnick), according to press releases.
Advent, a private equity firm, agreed to acquire the aerospace and defense business of Coherent, a company that develops, manufactures, and supports laser equipment and related specialty components, for $400m, according to press releases.
Coherent is advised by Joele Frank, according to press releases.
Apax Partners-backed Altus Fire and Life Safety, a full-service provider of regulatory-mandated fire and life safety services, completed the acquisition of Star Fire Protection, a provider of fire alarm solutions based in the Northeast region, according to press releases. Financial terms were not disclosed.
Apax Partners was advised by Kekst CNC (led by Todd Fogarty), according to press releases.
CVC DIF, a global mid-market infrastructure equity fund manager, agreed to acquire ASTP, a national network of reliable transportation providers that focuses on providing safe, reliable student transportation programs to ensure access to education, from Access Holdings, Baltimore-based, lower middle market private equity firm, according to press releases. Financial terms were not disclosed.
CVC DIF is advised by BMO Capital Markets, according to press release.
Blue Sea Capital, a private equity firm, completed the acquisition of MicroCare, a provider of innovative branded consumables for non-discretionary precision cleaning applications, according to press releases. Financial terms were not disclosed.
Blue Sea Capital was advised by Kirkland & Ellis, according to press releases.
EIG, a provider of institutional capital to the energy sector globally, agreed to acquire a 49.87% stake in Transportadora de Gas del Peru, an operator of natural gas and natural gas liquids pipelines, from CPP Investments, a global investment management organization, according to press releases. Financial terms were not disclosed.
EIG is advised by Citigroup, according to MergerLinks data and press releases.
Align Capital-backed Schneider Geospatial, a SaaS solutions provider, completed the acquisition of Full Circle Technologies, a software company, according to press releases. Financial terms were not disclosed.
Altimeter Capital, a venture capital firm, led a $65m funding round in Vulcan Elements, a rare-earth magnets manufacturer, according to press releases.
Lead Edge Capital, a growth equity firm, led a $50m Series C round in BinSentry, a technology company, according to press releases.
Martin Sorrell's S4 Capital confirms merger talks with MSQ Partners. ( Reuters)
S4 Capital is in early talks to acquire marketing agency MSQ Partners, a move that sent its shares up as much as 14% on August 11.
S4 Capital, established in 2018 following Martin Sorrell’s exit from rival WPP, stated a potential transaction would involve acquiring MSQ Partners, which is majority-owned by private equity firm One Equity Partners. The company added that there is no certainty the deal will be completed.
Francisco Partners considers sale of cybersecurity firm BeyondTrust. ( Bloomberg)
Buyout firm Francisco Partners is considering a multibillion-dollar sale of cybersecurity firm BeyondTrust Software, aiming to capitalize on growing investor interest in security software offerings.
The firm is working with bankers to assess potential buyers for BeyondTrust, which specializes in privileged access management solutions used by enterprises to secure critical systems and data.
TPG Twin Brook Capital Partners, the middle-market direct lending arm of TPG, has raised $3bn for a credit-focused continuation vehicle backed by Coller Capital.
The vehicle will recapitalize a portfolio of floating-rate, senior secured loans originated from its 2016 and 2018 vintage funds.
Accel-KKR, a global technology-focused investment firm, announced the completion of AKKR Isosceles CV, an approximately $1.9bn single-asset continuation fund that will extend its partnership with isolved, a provider of human capital management software and solutions servicing the entire employee lifecycle.
The transaction allows Accel-KKR to provide liquidity to existing investors in isolved while providing the company with a commitment of $350m in new capital to accelerate its growth through organic initiatives and accretive acquisitions.
Accel-KKR was advised by Lazard, Jefferies, Kirkland & Ellis and Kekst CNC (led by Todd Fogarty).
EMEA
Equistone Partners-backed Regent Acquisitions, a UK-based special purpose acquisition, terminated the acquisition of Inspired, a UK-based energy and sustainability advisory services provider, for £109m ($146m), according to press releases.
Apollo, an alternative investment manager, agreed to acquire a majority stake in Kelvion, a global provider of energy efficient heat exchange and cooling solutions, from Triton Partners, a private equity firm, according to press releases. Financial terms were not disclosed.
Apollo is advised by Barclays, JP Morgan, UBS, Paul Weiss Rifkind Wharton & Garrison and Sidley Austin. Triton Partners is advised by Guggenheim Partners, Morgan Stanley and Kirkland & Ellis, according to press releases and MergerLinks data.
FalconPoint Partners-backed Jennmar, a provider of infrastructure products and specialized services to the civil, solar, mining, and construction industries, completed the acquisition of Weber Mining & Tunnelling, a company focused on resin injection solutions for ground consolidation, according to press releases. Financial terms were not disclosed.
Jennmar was advised by Evercore and Lowenstein Sandler. Weber was advised by Hogan Lovells and Rothschild & Co, according to press releases.
Bain Capital, a private investment firm, agreed to acquire a majority stake in HSO, a global Microsoft services partner, from The Carlyle Group, an American multinational private equity, alternative asset management, and financial services corporation, according to press releases. Financial terms were not disclosed.
Bain Capital is advised by Barclays and Camarco, according to press releases and MergerLinks data.
Hammerson, a British property development and investment company, completed the acquisition of the remaining 50% stake in Bullring and Grand Central, a city centre based shopping centre, from CPP Investments, an investment management organization, for £319m ($429m), according to press releases.
Hammerson was advised by MHP Communications (led by Oliver Hughes), according to MergerLinks data and press releases.
A group of investors including Altor, Kallskär, Kinnevik, Lingotto and Temasek completed the €150m ($175m) investment in Aira, a clean energy-tech company, according to press releases.
IK Partners, a private equity firm, agreed to invest in Francks Kylindustri, a provider of installation and maintenance of commercial and industrial refrigeration systems, according to press releases. Financial terms were not disclosed.
AXA IM in talks to take stake in Telefónica Spanish fibre venture. ( FT)
AXA Investment Management is in advanced talks to acquire a significant minority stake of around 30% in FiberPass, a fibre optic broadband joint venture between Telefónica and Vodafone Spain, in a deal potentially worth hundreds of millions of euros to the telecom firms.
The French asset manager, recently acquired by BNP Paribas and overseeing €879bn ($1tn) in assets, is negotiating the investment as Vodafone Spain, which was sold last year for €5bn ($5.4bn) by its parent to London-listed Zegona Communications, seeks a third-party investor for FiberPass. An announcement is expected before the end of September.
General Atlantic backs PPF in ProSieben stake sale. ( Reuters)
General Atlantic has sold its 2.4% stake in German media group ProSiebenSat.1 to Czech investment firm PPF. The deal was made at PPF’s cash offer of €7 ($8.17) per share.
This move goes against ProSieben management’s endorsement of a higher rival bid from MFE-MediaForEurope, which included partial payment in MFE shares, signaling challenges for MFE’s bid to gain control of ProSieben.
KKR plans £7bn sale of Viridor. ( FT)
KKR is preparing to launch the sale of its recycling group Viridor next month, aiming to benefit from strong demand for infrastructure assets.
Potential bidders include CK Hutchison’s infrastructure arm and investor Equitix, though other interested parties may also emerge.
Audax Strategic Capital closes inaugural fund at $1.3bn. ( Press Release)
Audax Strategic Capital has completed the final close of its first fund, Audax Private Equity Solutions Fund, with total deployable capital of about $1.3bn, including related vehicles and the GP commitment. The fund exceeded its initial target.
Investors include a mix of domestic and international institutions, while Audax Private Equity contributed roughly 20% of the LP commitments as its GP stake.
Revolution Beauty rejects takeover bid from True, considers capital raising. ( Reuters)
Revolution Beauty has turned down a takeover proposal from specialist private equity firm True, a move that leaves the cosmetics group likely to pursue a capital raise from existing shareholders.
Shares in the London-listed makeup and haircare company closed 13% lower at £3.25 ($4.35). Revolution Beauty, whose products are sold online and through high street retailers such as Boots and Superdrug, launched a sale process in May and said in June that it had received interest from multiple parties.
Bain Capital explores options for Ahlstrom, including IPO or €8bn sale. ( Bloomberg)
Bain Capital is considering strategic options for Ahlstrom, a Finnish fiber-based specialty materials company, which could include an initial public offering or a sale valued at up to €8bn ($9.3bn).
The private equity firm has engaged Morgan Stanley to examine a possible sale, while Rothschild & Co is leading work on the potential listing.
APAC
Invesco Real Estate, a global real estate investment company, agreed to acquire RetireAustralia, an owner, operator and developer of retirement villages, from Infratil, an infrastructure investment company, and the New Zealand Superannuation Fund, a sovereign wealth fund, for AUD845m ($551m), according to press releases.
RetireAustralia is advised by Jefferies & Company, according to MergerLinks data and press releases.
Adamantem Capital, a private equity firm, agreed to acquire Nexon Asia Pacific, a digital and IT services provider, from EQT, a private equity firm, according to press releases. Financial terms were not disclosed.
EQT is advised by Houlihan Lokey and Johnson Winter & Slattery, according to press releases.
EQT, a private equity firm, offered to acquire CareNet, a digital healthcare platform provider in Japan, for $320m, according to press releases.
Aland Health owners seek sale at over $1.5bn valuation. ( Reuters)
The owners of China-based nutritional supplement producer Aland Health are exploring the sale of their combined controlling stake, aiming for a valuation above $1.5bn. Founder and chairman Chang Liang holds about 60% of the company.
The remaining shares are owned by investment firms, including Affinity Equity Partners, Goldman Sachs Growth Equity, and Henderson Investment.
Iress in talks with Blackstone and Thoma Bravo after earlier $1.28bn bid withdrawn. ( WSJ)
Australian financial-technology provider Iress is in discussions with Blackstone, having previously considered — and seen withdrawn — a $1.28bn proposal from the US private equity giant.
On August 8, Iress confirmed it is engaging with both Blackstone and Thoma Bravo to determine whether either could present an offer its board would recommend to shareholders. The earlier Blackstone bid, valued at $6.85 per share, implied an equity value of $1.28bn.
CapitaLand to expand commercial real estate in India. ( Reuters)
Singapore’s CapitaLand Investment has signed an agreement with the Maharashtra state government to invest INR192bn ($2.2bn) in Mumbai and Pune by 2030.
This investment forms part of CapitaLand’s broader India growth strategy, targeting an increase in its funds under management to about SGD15bn ($11.6bn) by 2028 from over SGD8bn ($6.2bn) currently.
New World Development in talks with Blackstone, CapitaLand over asset sales. ( Bloomberg)
New World Development is in discussions with potential investors including Blackstone and CapitaLand Group as the cash-strapped Hong Kong developer seeks to sell assets to boost liquidity.
Blackstone has been in talks to acquire some of New World’s assets and could be open to exploring a take-private deal, though no formal proposal has been made.
Singapore's Ninja Van said to halve valuation in latest round. ( Bloomberg)
Logistics startup Ninja Van is in talks to raise an $80m internal funding round that is expected to halve its valuation to around $1bn, highlighting ongoing challenges for tech companies amid Southeast Asia’s funding downturn.
The Singapore-based company, backed by Alibaba Group, will see existing investors B Capital Group, a venture capital firm founded by Meta co-founder Eduardo Saverin and Raj Ganguly, along with Monk’s Hill Ventures leading the round.
Orion Breweries preparing for Tokyo IPO. ( Bloomberg)
Orion Breweries is planning to list in Tokyo as early as next month, six years after being acquired by Carlyle Group and Nomura Holdings.
The Okinawa-based brewery has appointed Nomura’s securities unit, SMBC Nikko Securities, and Mizuho Financial Group as underwriters. Details, including the listing date and offering size, are expected to be announced next week.
Horizon Industrial Parks mulls $500m India IPO at $4bn valuation. ( Bloomberg)
Blackstone-owned Horizon Industrial Parks is considering an IPO in Mumbai next year that could raise about $500m. The company is targeting an enterprise valuation of $4bn.
Talks are ongoing with banks about the planned share sale, and the process is still in early stages.
Iluvatar CoreX explores $300m–$400m Hong Kong IPO. ( Bloomberg)
Centurium Capital-backed Iluvatar CoreX, formally known as Shanghai Tianshu Zhixin Semiconductor, is considering a Hong Kong IPO that could raise between $300m and $400m. The move comes amid rising interest in Chinese AI chipmakers as Beijing discourages reliance on Nvidia processors.
The Shanghai-based firm is working with advisers on the planned share sale, though details remain preliminary.
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