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Top Highlights
Parker Hannifin, a provider of motion and control technologies, agreed to acquire Filtration Group, a provider of filtration consumables that are designed to drive innovation and deliver solutions, for $9.25bn, according to press releases.
Filtration Group was advised by Lincoln International and Paul Hastings. Parker Hannifin was advised by Barclays, Eversheds Sutherland and Jones Day (led by Patrick Leddy and Jared Hasson), according to press releases and MergerLinks data.
MML Keystone, an international mid-market private equity firm, agreed to acquire a majority stake in Lowe Rental, a provider of sustainable rental services, from Perwyn, a European private equity investor, according to press releases. Financial terms were not disclosed.
MML Keystone is advised by Ernst & Young, Queens Tower Advisory, Roland Berger, Sustainable Advantage, Howden, Macquarie Group and Hogan Lovells. Lowe Rental and Perwyn are advised by Deloitte, CIL Management Consultants, DC Advisory (led by Tim Morris), Jamieson, Eversheds Sutherland and Pinsent Masons, according to press releases and MergerLinks data.
Renovus Capital-backed K2 Services, a managed services provider, agreed to acquire the Global Business Transformation Solutions unit of Epiq, a technology and services provider, according to press releases. Financial terms were not disclosed.
Epiq is advised by Rothschild & Co and Weil Gotshal and Manges (led by Timothy Burns). Renovus Capital and K2 Services are advised by Morgan Lewis & Bockius and Gasthalter & Co (led by Mark Semer and Alex Jeffrey), according to press releases and MergerLinks data.
Deal Round up
AMERICAS
C3 AI weighs sale after founder-CEO Siebel steps aside. ( Reuters)
Braskem owner Novonor is close to a deal to sell its stake to IG4. ( Bloomberg)
Gas network Esentia looks to raise $610m in global offer. ( Bloomberg)
Travel booking platform Klook reveals robust revenue growth in US IPO filing. ( Press Release)
EMEA
CVC’s Syntegon to attract CD&R-Koerber Group, GEA, Coesia. ( Bloomberg)
ArcelorMittal, IDC end exclusive South Africa talks with no deal. ( Bloomberg)
British telecom firm SCG mulls sale at $1bn valuation. ( Bloomberg)
APAC
TPG to seek bids for Southeast Asia school operator valued at up to $2bn. ( WSJ)
Warburg’s Truhome Finance to weigh $300m India IPO. ( Bloomberg)
Neuberg Diagnostics to eye $350m India IPO in 2026. ( Bloomberg)
Aluminum smelter Chuangxin to seek $700m in Hong Kong IPO. ( Bloomberg)
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FINANCIAL ADVISORS
PR ADVISORS
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AMERICAS
Mallinckrodt, a global specialty pharmaceutical company, completed the spin-off of Par Health to create an independent generic pharmaceuticals and sterile injectables company committed to delivering proven medicines in moments of need without compromise, according to press releases. Financial terms were not disclosed.
Mallinckrodt was advised by Arthur Cox, Hogan Lovells, Wachtell Lipton Rosen & Katz (led by Victor Goldfeld) and Joele Frank (led by Michael Freitag and Aura Reinhard), according to press releases and MergerLinks data.
Life360, a San Mateo, California–based American information technology company, agreed to acquire Nativo, an advertising technology company, for $120m, according to press releases.
Nativo is advised by Perella Weinberg Partners and Cooley. Life360 is advised by Stifel and Sidley Austin, according to press releases.
Atlassian, a provider of team collaboration and productivity software, completed the acquisition of DX, a developer intelligence platform, for $1bn, according to press releases.
Atlassian was advised by Baker McKenzie (led by Kelly Kriebs) and Maple Media. DX was advised by Fenwick & West (led by Steven Levine), according to press releases and MergerLinks data.
Kian-backed Diamond Landscaping, a luxury residential landscaping firm, completed the acquisition of Arizona Outdoor Designs, a premier provider of luxury residential landscaping services in the greater Scottsdale area, according to press releases. Financial terms were not disclosed.
Arizona Outdoor Designs was advised by Golden Circle Advisors. Kian Capital was advised by MiddleM Creative (led by Jan Morris), according to press releases.
LG Technology Ventures and SBI, venture capital investment firms, led a $200m Series B round in Genspark, a software development company.
Davies Group, a provider of management services, agreed to acquire SCM, an insurance company, according to press releases. Financial terms are not disclosed.
Prescott’s, a provider of high-quality medical equipment, completed the acquisition of Tenacore, a provider of medical equipment services, according to press releases. Financial terms are not disclosed.
Megaport, a provider of Network-as-a-Service solutions, agreed to acquire Latitude.sh, a global platform for bare metal servers, according to press releases. Financial terms are not disclosed.
C3 AI weighs sale after founder-CEO Siebel steps aside. (Reuters)
Enterprise AI software provider C3 AI is exploring a potential sale and other strategic options after founder Thomas Siebel stepped down as CEO due to health issues.
The Redwood City-based firm, which supplies AI platforms to clients including Shell and the US Air Force, is also considering raising funds from private investors.
Braskem owner Novonor is close to a deal to sell its stake to IG4. (Bloomberg)
Novonor is nearing a deal with creditors to sell its controlling stake in Braskem, one of the world’s largest petrochemical companies, to a fund managed by IG4 Capital.
Gas network Esentia looks to raise $610m in global offer. (Bloomberg)
Esentia Energy Development is seeking to raise about $610m through a global offering, including an initial public offering in Mexico.
The Partners Group-backed midstream gas company will sell 186m new shares, while an existing shareholder plans to sell 38m shares, with a price range of $2.70 to $3.90 each.
Travel booking platform Klook reveals robust revenue growth in US IPO filing. (Press Release)
SoftBank-backed online travel platform Klook reported a 24% increase in revenue to $417.1m in 2024, up from $335.2m a year earlier, according to its US IPO filing.
The Hong Kong-based company aims to list on the New York Stock Exchange under the symbol “KLK,” tapping investor demand amid a recovering travel sector.
EMEA
RadNet, a provider of freestanding, fixed-site diagnostic, completed the acquisition of CIMAR UK, a provider of medical imaging solutions, according to press releases. Financial terms are not disclosed.
CVC’s Syntegon to attract CD&R-Koerber Group, GEA, Coesia. (Bloomberg)
German packaging machine maker Syntegon, owned by CVC Capital Partners, has attracted interest from a consortium of Clayton Dubilier & Rice and Koerber.
Other suitors include GEA Group and Italian rival Coesia.
ArcelorMittal, IDC end exclusive South Africa talks with no deal. (Bloomberg)
ArcelorMittal exclusive talks with South Africa’s Industrial Development over a potential sale of its local steel operations have ended without a deal, leaving the company free to pursue other investors.
An informal proposal of about ZAR8.5bn ($492m) from IDC failed to bridge differences, though discussions continue regarding a possible gradual takeover of ArcelorMittal South Africa.
British telecom firm SCG mulls sale at $1bn valuation. (Bloomberg)
British telecom and cloud services provider SCG is exploring a potential sale that could value the company at up to £800m ($1.07bn). The Basingstoke-based firm has hired Houlihan Lokey to gauge buyer interest, with sale materials expected to be distributed later this week.
Talks remain preliminary, and SCG’s owners may still opt against a sale.
APAC
Restaurant Brands, the fifth-largest operator of fast food restaurants in the world, and CPE, a Chinese alternative asset manager, agreed to form a joint venture, according to press releases. Financial terms were not disclosed.
RBI is advised by Morgan Stanley, Haiwen & Partners and Kirkland & Ellis. CPE is advised by Junhe and Morrison Foerster, according to press releases.
TPG to seek bids for Southeast Asia school operator valued at up to $2bn. (WSJ)
Private equity firm TPG plans to seek bids next month for its stake in Southeast Asia school operator XCL Education, which could be valued at up to $2bn.
The first round of bids is expected around late December 2025, with the sale process aimed to be completed before the end of 2026.
Warburg’s Truhome Finance to weigh $300m India IPO. (Bloomberg)
Warburg Pincus-backed Truhome Finance is considering an initial public offering that could raise around $300m.
Formerly known as Shriram Housing Finance, the shadow lender has held discussions with bankers about a listing that could value the company at roughly $1bn, with the IPO likely to take place in 2026.
Neuberg Diagnostics to eye $350m India IPO in 2026. (Bloomberg)
Neuberg Diagnostics is planning an initial public offering that could raise about $350m, adding to a flurry of deals in India’s active IPO market.
The Chennai-based clinical laboratory-testing chain is in active discussions with investment bankers and is targeting a listing in 2026.
Aluminum smelter Chuangxin to seek $700m in Hong Kong IPO. (Bloomberg)
Chuangxin Industries Holdings, a Chinese aluminum smelter, is planning a Hong Kong initial public offering that could raise about $700m.
The Inner Mongolia-based company has begun gauging investor interest and plans to start taking orders as soon as November 14 for a listing in the coming weeks.
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