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AMERICAS
Permira invested in Axiom, the global leader in specialized on-demand legal talent. Financial terms were not disclosed.
Elena Donio, Chief Executive Officer of Axiom, commented, "Our industry is in the early days of a complete transformation, away from the historical law firm paradigm toward nimble, technology-powered solutions. Axiom has been leading that transformation, and this partnership is about preparing for faster innovation, more disruption and extending our lead."
Goldman Sachs and Cooley are advising Axiom. Bank of America Merrill Lynch and Skadden Arps Slate Meagher & Flom are advising Permira. Barclays, advised by Weil Gotshal and Manges, is providing debt financing.
Macquarie Group agreed to acquire Netrality Data Centers, which owns and operates facilities that act as data connectivity hubs in their respective markets, from Abrams Capital Management. Financial terms were not disclosed.
“Netrality’s facilities represent a critical form of digital infrastructure. In addition to facilitating the operation of the public internet, the sites also allow companies to build direct private connections between networks, improving performance, reliability and security. We are very pleased to partner with Netrality’s experienced management team as we expand our portfolio of investments in communications infrastructure,” said Karl Kuchel, CEO of MIP IV, a fund managed by Macquarie Infrastructure and Real Assets.
Fried Frank and Kurtz & Revness advised Netrality Data Centers. Goldman Sachs and White & Case advised Macquarie. Sullivan & Cromwell advised Abrams Capital Management.
Luminate Capital Partners, a San Francisco-based private equity firm, invested in Thought Industries, a leading provider of customer training and learning software solutions. Financial terms were not disclosed.
"Since 2013, we have helped organizations better serve their customers by providing a platform to easily create, deploy, and monetize more engaging and effective learning and training content. The Thought Industries platform allows our customers to drive revenue, strengthen product adoption, and boost renewal rates," said Barry Kelly, Co-Founder and CEO of Thought Industries. "With Luminate Capital as our partner, we will continue to invest in our product capabilities and customer support operations to better serve organizations that rely on training to drive growth," said Doug Murphy, Co-Founder and President.
AGC Partners advised Thought Industries. Kirkland & Ellis advised Luminate Capital Partners.
Branford Castle Partners, a New York City-based private equity firm, acquired Pulse Veterinary Technologies, the veterinary industry's leading provider of shock wave therapy devices. Financial terms were not disclosed.
"Branford Castle Partners is excited about the PulseVet opportunity. It is a niche-market leader with proprietary technology in a highly desirable industry, and has a fantastic management team," said Eric Korsten, Managing Director of Branford Castle Partners.
MHT Advisors advised Pulse. Siguler Guff & Company provided debt financing.
Vista Equity Partners, a leading investment firm, invests in Fusion Risk Management, a provider of risk management software. Financial terms were not disclosed.
The partnership includes growth capital to help Fusion further scale its platform and accelerate product roadmap initiatives to cement its leadership in the business continuity and risk management space. Existing investors Catalyst Investors and Level Equity will retain an ownership stake in Fusion.
“Vista has a proven track record of helping enterprise software companies achieve exceptional results, and we look forward to leveraging their investment and expertise to further our market leadership.” David Nolan, Fusion Risk Management CEO and Founder.
Robert W. Baird is advising Fusion.
Private equity firm Caltius Equity Partners invested in Air Conditioning Innovative Solutions, a founder-owned provider of commercial HVAC and plumbing maintenance and repair services in Texas. Financial terms were not disclosed.
“We are thrilled to have Caltius Equity as our financial partner,” commented Mike Nichols, president, and co-founder of ACIS. “Their deep knowledge of the facility services industry and experience helping entrepreneurs grow their businesses is an ideal combination as we move to the next phase of growth at ACIS.”
Bulkley Capital advised ACIS.
NJR Midstream, a leading natural gas distribution services provider, acquires Leaf River Energy Centre, a distributor of natural gas, from Macquarie Infrastructure Partners for $368m.
The transaction is expected to close in 2019 and supports NJR’s long-term net financial earnings growth rate. With the acquisition of Leaf River, NJR Midstream will now have ownership interests in natural gas storage facilities in the Gulf Coast and Marcellus Shale regions, with working gas capacity of more than 44MMDth.
MISTRAS Group, a leading, “one source” global provider of technology-enabled asset protection solutions, agreed to acquire New Century Software, a leading provider of pipeline integrity management software and services to energy transportation companies. Financial terms were not disclosed.
“We’re excited to add the New Century team and their unique and advanced solutions to our pipeline integrity portfolio, which we’ve identified as one of the pillars of our growth strategy,” said Dennis Bertolotti, MISTRAS Group President and Chief Executive Officer. “With this acquisition, we’re streamlining our customers’ paths towards safe operations and regulatory compliance, by providing integrated services, inspection equipment, and software from beginning to end of the midstream value chain.”
Opendoor, a leading online real estate marketplace, acquires OS National, a title and escrow company. Financial terms were not disclosed.
The acquisition allows Opendoor to deeply integrate title, escrow, and closings into its online buying and selling experience and will enable the company to build the most streamlined and easiest closing experience.
"We are very excited to join the Opendoor family, We share many core values like placing the customer first, appreciation for their employees, and like us they want to be the very best at what they do." Charles Chacko, OS National CEO.
Cardea Bio, a manufacturer of graphene-based biosensors, and Nanosens, a manufacturer of biosensors using CRISPR-Chip technology, announced an agreement to enter a joint venture. Financial terms were not disclosed.
The closing of the proposed transaction is subject to stockholder approval, definitive documents, and customary closing conditions.
“We’re excited to become part of Cardea and develop new and innovative uses for our combined technologies. To help realize the potential, we’re calling all genomics innovators to join the Early Access Program to accelerate our research and product development" Kiana Aran, Nanosens Co-Founder.
The Brandt Group of Companies, a leading John Deere equipment dealer, acquires Nortrax, a seller of heavy machinery and equipment. Financial terms were not disclosed.
The acquisition will give Brandt a comprehensive retail footprint to supply Construction & Forestry equipment to Canadian contractors and will further establish the firm's position as a premier privately-held Canadian company and the largest privately-owned John Deere Construction & Forestry dealership in the world.
"The addition of Nortrax's impressive branch and distribution network gives us an unprecedented opportunity to offer customers anywhere in Canada a consistent customer support experience, no matter where their projects take them." Shaun Semple, Brandt President.
JMC Capital Partners, a private equity firm, acquired Michigan-based PRO-VISION, a leader in commercial mobile video technology. Financial terms were not disclosed.
"We are excited to join the JMC team and for the opportunity to accelerate PRO-VISION's growth," said Steve Peacock, President and CEO at PRO-VISION. "And our mission is greater than business growth alone – our solutions have a direct impact on the safety of our users and the public. We are inspired that this partnership with JMC will enable us to improve the safety of even more people around the world."
Out of The Box Technology, an accounting technology company, acquired Powerful Accounting, which provides bookkeeping, process implementation, tax preparation, management use financial reporting, IRS and State Taxation representation and resolution, and business consulting. Financial terms were not disclosed.
"Dawn's experience in the accounting community, along with her wealth of knowledge in fraud services and extensive tax background answer what our clients have been asking for. We are thrilled to expand our service line with the supreme talent of the Powerful Accounting team," said Denise Loter-Koch, Founder of ebs Associates and now Chief Executive Officer of Out of The Box Technology.
Crain Communications, a privately held media company, acquired GenomeWeb, an online news organization serving the global community of scientists, technology professionals and executives who use and develop the latest advanced tools in molecular biology research and molecular diagnostics. Financial terms were not disclosed.
"We are excited to add GenomeWeb to our family of brands," said KC Crain, president and chief operating officer of Crain Communications. "GenomeWeb's history and expertise in journalism, and their commitment to top-level reporting, makes it an attractive business and a perfect complement to our family of business-to-business brands."
Innive, a products and services company empowering organizations by providing insight that goes beyond the data, acquired Red Pill Analytics, a data and analytics company. Financial terms were not disclosed.
"Joining Innive is the perfect opportunity for Red Pill Analytics. We'll continue doing what we've always done: helping organizations be data-driven, but now with increased scale and investment. We're excited to continue with our established customers and established technology partners. But we're equally excited to help Innive's customers elevate their data investments, and to work directly on Innive's vertical solutions", said Stewart Bryson, CEO of Red Pill Analytics.
TransPerfect, the world’s largest provider of language and technology solutions for global business, acquired MoGi Group, a bespoke gaming solutions house recognized as one of the premier partners for studios, developers, and content owners in the gaming space. Financial terms were not disclosed.
TransPerfect President and CEO Phil Shawe remarked, “It’s a true privilege to welcome an organization like MoGi to the TransPerfect family of companies. They are undisputed experts in the gaming space, and their success and reputation among their clients is a testament to Orad, Zoi, and their entire team. We look forward to working together to accelerate the growth of our combined gaming localization practice.”
Red Riverr, a technology transformation company, acquired CWPS, a technology solutions provider specializing in managed services ranging from complex network, collaboration, data center, cloud management and security through Tier 1 service desk. Financial terms were not disclosed.
“The need for managed services platforms that can scale to meet the dynamic requirements of government, military and commercial organizations is high,” said Rick Bolduc, CEO and Chairman, Board of Directors with Red River. “With the addition of CWPS, its people, leadership team, systems and past performance, Red River is well positioned to take advantage of this growing opportunity.”
TGS, a provider of geoscience data, acquires Lasser, a provider of historical and monthly oil and gas production data. Financial terms were not disclosed.
“Lasser’s vast well performance data library will further solidify TGS’ production data offering. Now our customers will have the information they need, all in one place, to help estimate reserves and forecast reservoir performance, leading to better production overall." Katja Akentieva, TGC EVP Onshore.
Splunk, an American public multinational software corporation based in San Francisco, agreed to acquire Omnition, a stealth-mode SaaS company that is innovating in distributed tracing, improving monitoring across microservices applications. Financial terms were not disclosed.
"The combined power of Splunk and Omnition will provide users with a leading observability technology, bringing tracing together with logs within one of the most advanced IT monitoring and analytics platform," said Splunk CTO Tim Tully, in a blog post.
ERM, a leading provider of consulting services, completes the acquisition of Contek Solutions, a safety and environmental engineering company. Financial terms were not disclosed.
“Joining ERM provides a tremendous opportunity for both our employees and clients,” says Jim Johnstone, Contek’s Chairman. “This will allow us to greatly expand technical services to our clients, while providing tremendous career opportunities for all employees.
Ceridian, a leading human capital management firm, acquires RITEQ, a provider of enterprise workforce management solutions. Financial terms were not disclosed.
“We’re tremendously excited about entering into a new chapter with Ceridian. Together, we will be able to offer our customers end-to-end HCM capabilities through the Dayforce platform,” David Kroser, RITEQ Managing Director and Co-founder.
Ace Hardware, a leading hardware cooperative, acquires Handyman Matters, a franchisor of home repair, maintenance, and improvement services. Financial terms were not disclosed.
"We are thrilled to be a part of the Ace family. In addition to supporting locally owned and operated businesses, Ace and Handyman Matters also share a commitment to quality and outstanding service," Andy Bell, Handyman Matters, CEO.
Permira and Advent consider buying Symantec for $16bn. (FS)
Private equity firms Permira and Advent International are interested in making a bid to buy Symantec, an American software company headquartered in Mountain View, California, for more than $16bn after it agreed to a sale of a big chunk of its business.
Inter Pipeline rejects $9.4bn bid from CK Infrastructure.
Reuters reported that Canada’s Inter Pipeline rejected a $9.4bn buyout offer from Hong Kong billionaire Li Ka-Shing’s CK Infrastructure Holdings. The company said it is not interested in entering negotiations regarding a potential deal.
Shares of the company, which owns pipelines in Alberta and Saskatchewan as well as oil storage tanks in Canada and Europe, have risen about 16% since its August statement on the offer.
Getaround seeks to raise $202m in the recent funding round. (FS)
Getaround, a peer-to-peer car-sharing service company, seeks to raise upwards of $202m in the Series D extension fund. The funding would value the company at about $1.7bn, thereby attaining unicorn status.
The company has pulled in over $400m in total VC funding from investors including GV, Madrona Venture Group, and actor Ashton Kutcher.
Banco do Brasil and UBS in advanced talks to form joint venture.
Banco do Brasil, a Brazilian state-controlled lender, and UBS Group, a Swiss multinational investment bank and financial services company, are in advanced talks about an investment banking joint venture that could be signed as soon as next month. Banco do Brasil, Brazil’s second-largest lender, has been considering alternatives to bolster its investment banking business for a while.
UBS would have a controlling stake to avoid operational hurdles that are common in state-controlled companies in Latin America’s biggest economy, but governance of the joint venture would be shared.
Medicine Man Technologies to acquire a group of dispensaries.
Medicine Man Technologies, a rapidly growing provider of cannabis consulting services, nutrients and supplies, agreed to acquire a group of dispensaries in Colorado for $37m.
“This proposed acquisition of these additional dispensaries will continue the expansion of our retail presence in Colorado,” stated Andy Williams, Co-Founder and Chief Executive Officer of Medicine Man Technologies. “Post acquisitions, we will have four, what we believe to be, highly successful dispensaries that will carry our wide assortment of cannabis products, bringing efficiencies to our business and helping us scale our operations. Our focus is on building a vertically integrated cannabis company, and we believe that this acquisition will help us achieve an acceleration on the retail component of our strategy.”
GIC in advanced talks to acquire Oxford Fairmont hotels stake.
Singapore's sovereign wealth fund GIC is nearing a deal to acquire a majority stake in Oxford Property Group's Fairmont portfolio, valuing it at $1.5bn.
HNA looking to sell Seaco.
HNA Group, a Chinese conglomerate headquartered in Haikou, is looking to sell Seaco, a company that sells and leases marine containers, in order to raise cash. HNA is working with advisors to identify potential bidders.
EMEA
LDC, the private equity arm of Lloyds Banking Group, invested in Instinctif Partners, the international business communications consultancy. Financial terms were not disclosed.
Tim Linacre, Chief Executive of Instinctif Partners, said: “LDC’s investment is a clear validation of our people and our vision to build a truly integrated, strategic consultancy. It’s also a clear statement of our intent to win in our sector by continuing to build an innovative, relevant and modern business communications group. I am excited about our offer, which is delivering a string of impressive client wins, and the clarity of our leadership, strategy and ambition. LDC’s investment means we are well-resourced to grow our position as the home of integrated, strategic communications advice for boards and their executive teams.”
PwC, Raymond James and Mayer Brown advised Instinctif Partners. Catalysis Advisory, Gateley, Helion Partners, JLT, Plural Strategy Group and KPMG advised LDC.
Argos Wityu-backed Maison Berger Paris, a world leader in the fragrance lamp market, agreed to acquire Groupe Devineau, a candle-making specialist. Financial terms were not disclosed.
Olivier Sillion, CEO of Maison Berger Paris, said: “This business combination aligns with Maison Berger Paris group’s development strategy. We are currently the world leader in the niche market of fragrance lamps (commonly known as Lampe Berger lamps) and we want to expand our product portfolio to become a major player in the world market of home fragrances, by focusing our growth on the biggest segment, i.e. candles.”
Ami Capital advised Groupe Devineau. Eight Advisory, Jeantet and Arsene Taxand advised the buyers.
Barnsdales, a long-established Yorkshire property management firm, acquired Blake Property Management, a property management company in Stoke Mandeville, England. Financial terms were not disclosed.
Blake’s co-founder David Tatum said: “Barnsdales’ long standing reputation and professionalism gave us huge comfort that we are handing on our business to a safe pair of hands. Blake clients and residents will benefit from this more sophisticated business with greater resources.”
Taylor Emmet advised Blake Property Management. Peritus Corporate Finance and HSR Law advised Barnsdales.
Sumitomo Dainippon Pharma, a leading Japanese drug manufacturer, acquires a 10% stake in Roviant Sciences, a leading Swiss drug manufacturer, for $3bn.
Sumitomo Dainippon-Roivant Alliance, a new entity to be wholly owned by Sumitomo Dainippon Pharma, is expected to assume Roivant’s ownership interests in Myovant Sciences, Urovant Sciences, Enzyvant Therapeutics, Altavant Sciences, and one additional company to be specified before the execution of the definitive agreement.
“We are pleased to enter into this relationship with Sumitomo Dainippon Pharma, and we look forward to working closely with them to ensure the success of the Alliance,” Vivek Ramaswamy, Roivant Founder, and CEO.
Republic of Serbia agreed to buy a 34.58% stake in Komercijalna Banka, a bank founded in 1970 with headquarters in Belgrade, Serbia, from EBRD and IFC Capitalization Fund. Following completion of the transaction, the Republic of Serbia will own 83.23% of the ordinary shares of the bank. Financial terms were not disclosed.
The Republic of Serbia, EBRD and IFC Capitalization Fund are confident that the Bank is well positioned to achieve a successful privatization, for the utmost benefit of the Bank’s clients, the Serbian Banking sector as a whole as well as the Republic of Serbia.
Regional private hire vehicle operator V Cars, which is owned by the technology focused passenger services group, Veezu, acquired Swindon-based United Radio Cars, a taxi services provider. Financial terms were not disclosed.
Nathan Bowles, CEO, Veezu Holdings, said: “The recent acquisition of United Radio Cars has significantly expanded the capacity of the V Cars fleet and strengthens our local service capacity in one of our key regional hubs, Swindon.
DMS Governance, the worldwide leader in governance, risk and compliance, acquired Host Capital, an independent Authorised Corporate Director. Financial terms were not disclosed.
Anne Storie, CEO of DMS, commented, “We are delighted to welcome Host and its experienced team to DMS. This is a key acquisition for us that allows us to build on our existing client offering for our expanding European client base. Our clients in the UK, Ireland, and Luxembourg will now be able to take full advantage of our broadened comprehensive services.”
Thermo Fisher and Danaher looking to buy KKR's LGC Group. (FS)
Thermo Fisher, an American biotechnology product development company, and Danaher, a globally diversified conglomerate, are looking to buy KKR's LGC Group, an international life sciences measurement and testing company. Private equity firms Blackstone, CVC, Equistone and Carlyle are also interested in making an offer.
The sale of LGC could fetch as much as $2bn for KKR.
Kone explores options to acquire elevator business of Thyssenkrupp.
Kone, a leading elevator manufacturer, is exploring possibilities of acquiring the elevator business of Thyssenkrupp.
Reuters reported that Kone would partner with Bank of America to bid $19bn for the elevator unit.
Valence Media looking to buy a unit of Nielsen Holdings.
Valence Media, the parent company of famed entertainment-industry publication Billboard, is looking to acquire the music-industry data, software and analytics business of Nielsen Holdings, a British information, data and measurement firm.
The transaction would bring the music industry's top chart and data providers under one roof. It's expected to close later this year at a price in the eight-figure range.
Harmony Gold Mining and Sibanye Gold interested in AngloGold Ashanti's South African mine.
Harmony Gold Mining, the third largest gold mining company in South Africa, and Sibanye Gold, the largest individual producer of gold from South Africa, are interested in buying AngloGold Ashanti's South African mine Mponeng. AngloGold Ashanti valued the asset at as much as $500m. The talks are at an early stage.
ExxonMobil in advanced talks to dispose of its Norweigan assets to Var Energi. (FS)
ExxonMobil, a leading oil explorer, is in advanced talks to dispose of its Norweigan North Sea assets to Var Energi. The US energy giant said that while no deal had been reached, it had now moved to exclusive talks with Vår, a joint venture between Italian energy major Eni and HitecVision, a North Sea private equity specialist, Financial Times reported.
Carlyle and Apollo compete for Deutsche Bahn's Arriva unit. (FS)
Private Equity firms Carlyle Group and Apollo have entered into the final bidding process of Deutsche Bahn's Arriva business unit. The unit is evaluated at $3.3bn to $4.4bn.
The final bids are expected to be completed by October. Firms like Lone Star, Keolis, Go-Ahead, Stagecoach, Transdev, and ComfortDelGro are also interested in bidding.
Brinks in advanced talks to acquire G4S for $1.2bn.
Brinks, a leading security consulting company, is in advanced talks to acquire G4S, a British security company, for $1.23bn.
APAC
Norway’s Telenor and Malaysia’s Axiata, two telecommunications companies, terminated their talks to merge their Asian operations into a $40bn group. Axiata suggested that a future merger would be possible after reconsiderations.
Citigroup advised Telenor. Morgan Stanley advised Axiata.
Alibaba Group Holding, the largest online retailer in China, acquires local e-commerce platform Kaola from NetEase for $2bn. The transaction paves the way for the two internet companies with deep roots in Hangzhou to identify further and explore business collaborations.
"We are pleased to have found a strategic fit for Kaola within Alibaba's extensive ecosystem, where Kaola will continue to provide Chinese consumers with high-quality import products and services." William Ding, NetEase CEO.
ICICI Bank, a leading Indian private sector bank, invested $300m in Wipro, an Indian multinational corporation that provides information technology, consulting and business process services.
“This engagement will further strengthen our endeavor to provide differentiated technology and digital capabilities to the financial services industry,” a Wipro statement said.
StreetScooter, a subsidiary of Deutsche Post and Chery Holding Group, a leading Chinese automobile manufacturer, sign Memorandum of Understanding to begin local production, sourcing, and development of last-mile electric light commercial vehicles. Financial terms were not disclosed.
“We’re thrilled about the upcoming collaboration with our partner Chery and this opportunity to open up the world’s largest market for electric light commercial vehicles, introduce our energy, logistics, and fleet solutions and create a local source of value creation." Jorg Sommer, StreetScooter CEO.
Suzlon withdraws $1.2bn debt repayment offer.
Suzlon Energy, a wind turbine supplier based in Pune, India, withdrew an offer to repay about $1.2bn to lenders after Vestas Wind Systems A/C, a Danish manufacturer, seller, installer, and servicer of wind turbines which was backing the proposal, pulled out of the debt-resolution plan.
The settlement was the only offer before the lenders led by State Bank of India after Brookfield Asset Management dropped out last month. The banks are yet to decide on the next steps to recover their dues.
Paytm to start planning IPO in two years.
Paytm, an Indian e-commerce payment system and digital wallet company, will start preparations for an initial public offering in the next 22-24 months, its founder and CEO Vijay Shekhar Sharma said. Mr. Sharma said that while a public listing is 'inevitable,' Paytm is yet to construct a roadmap for it because he wants the firm to generate more cash before entering the public market.
"We've seen large businesses in the country. But this is the age in time when we are able to build young companies, create a massive amount of value for company shareholders, and produce great solutions to problems in India," he said.
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