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AMERICAS

Bending Spoons to acquire Airtable for $1.285bn.

Bending Spoons, an Italian technology company that scales and develops technology products, agreed to acquire Airtable, a cloud collaboration software company that provides a no-code platform combining the features of spreadsheets and relational databases, for $1.285bn, according to press releases.

Bending Spoons is advised by Ernst & Young, Goldman Sachs, JP Morgan and Willkie Farr & Gallagher. Airtable is advised by AXOM Partners and Latham & Watkins (led by Sarah Axtell, Richard A. Kline, Ian A. Nussbaum and Sean Parish), according to press releases and MergerLinks data.

AE Industrial completes the acquisition of a majority stake in the space propulsion and power systems business of L3Harris Technologies at an $845m valuation.

AE Industrial, a private investment firm, completed the acquisition of a majority stake in the space propulsion and power systems business of L3Harris Technologies, an American technology company, defense contractor, and information technology services provider that produces C6ISR systems and products, at an $845m valuation, according to press releases.

AE Industrial was advised by JP Morgan and Stanton PRM (led by Matthew Conroy). L3Harris Technologies was advised by Jefferies & Co (led by Simon Blanks), Vinson & Elkins (led by Kelly A. McGovern, Francisco Morales Barron, Jeff Szulc, Jessica Rosenwasser, Sebastian Tiller, Anthony Paladino) and Joele Frank (led by Sharon Stern), according to press releases and MergerLinks data.

Wind Point Partners completes the acquisition of Eze Castle Integration from HIG Capital.

Wind Point Partners, a private equity firm, completed the acquisition of Eze Castle Integration, a provider of enterprise technology services for the alternative investment and regulated financial services industries, from HIG Capital, an alternative asset investment firm, according to press releases. Financial terms were not disclosed.

Eze Castle Integration was advised by Guggenheim Partners, Robert W Baird and King & Spalding. Wind Point Partners was advised by Houlihan Lokey, KPMG and Winston & Strawn, according to press releases.

Ridgemont Equity Partners completes the acquisition of ENTACT.

Ridgemont Equity Partners, a Charlotte-based middle market private equity firm, completed the acquisition of ENTACT, a provider of environmental remediation and construction services. Financial terms were not disclosed.

ENTACT was advised by AEC Advisors, Brown Gibbons Lang & Co, A&O Shearman and Blank Rome. Ridgemont Equity Partners was advised by Harris Williams & Co, Kirkland & Ellis and Profile Advisors, according to press releases.

The Williams Companies to acquire Momentum Midstream from EnCap Flatrock for $5.5bn.

The Williams Companies, a natural gas processing and transportation company, agreed to acquire Momentum Midstream, an integrated natural gas midstream business, from EnCap Flatrock, a venture capital firm focused on the North American midstream sector, for $5.5bn, according to press releases.

Momentum Midstream is advised by Barclays, Jefferies & Co and Kirkland & Ellis. EnCap Flatrock Midstream is advised by Willkie Farr & Gallagher and FGS Global (led by Kelly Kimberly), according to press releases.

Nordic Capital to acquire the medical business of BWX Technologies for $800m.

Nordic Capital, a private equity investor, agreed to acquire the medical business of BWX Technologies, an American engineering and manufacturing company that supplies nuclear components, fuels, and related services, for $800m, according to press release.

BWX Technologies is advised by Solomon Partners and Stikeman Elliott. Nordic Capital is advised by Kirkland & Ellis and McCarthy Tetrault, according to press releases.

Hillman to acquire Kanebridge for $315m.

Hillman Solutions, a provider of hardware products and merchandising solutions, agreed to acquire Kanebridge, a distributor of commercial and military-grade industrial fasteners, for $315m, according to press release.

Kanebridge is advised by Piper Sandler and Koley Jessen. Hillman is advised by Jefferies & Company and Thompson Hine, according to MergerLinks data and press releases.

Versant Media Group completes the acquisition of Full Swing from Bruin Capital for $530m.

Versant Media Group, a media and entertainment company, completed the acquisition of Full Swing, a sports technology company designing golf simulator systems, from Bruin Capital, a global sports and entertainment investment firm, for $530m, according to press releases.

Versant Media Group was advised by Gibson Dunn & Crutcher. Bruin Capital was advised by Moelis & Co and Kirkland & Ellis, according to press releases.

Apollo completes the acquisition of a majority stake in Maverick Water Group from Crosstimbers Capital Group.

Apollo, a private equity firm, completed the acquisition of a majority stake in Maverick Water Group, a water infrastructure development and asset management company, from Crosstimbers Capital Group, a private equity firm, according to press releases. Financial terms were not disclosed.

Maverick Water Group was advised by Guggenheim Partners. Apollo was advised by Vinson & Elkins (led by Dan Komarek and Christopher B. Bennett). Crosstimbers Capital Group was advised by Latham & Watkins, according to MergerLinks data and press releases.

LS Power-owned OPTERRA Energy Services completes the acquisition of NORESCO from Carrier Global.

LS Power-owned OPTERRA Energy Services, an energy company that provides infrastructure modernisation, completed the acquisition of NORESCO, an energy services company that specialises in energy efficiency, infrastructure upgrades, and sustainability, from Carrier Global, a provider of climate control and energy solutions, according to press releases. Financial terms were not disclosed.

Carrier Global was advised by Jefferies & Company and Akerman, according to MergerLinks data and press releases.

HCLTech completes the acquisition of telco solutions business of Hewlett Packard Enterprise.

HCLTech, a global technology company, completed the acquisition of telco solutions business of Hewlett Packard Enterprise, an information technology company, according to press releases. Financial terms were not disclosed.

HCL Technology was advised by Mayer Brown, according to MergerLinks data and press releases.

Sequoia Capital led a $1bn Series B round in Valar Atomics.

Sequoia Capital, a US-based venture capital firm, led a $1bn Series B round in Valar Atomics, a developer of advanced nuclear fission reactors designed to scale clean energy for industrial power, hydrogen, and synthetic fuels, with participation from Apandion, Atreides Management, Conviction, Dream Ventures, HOF Capital, Point72, Riot Ventures, Snowpoint Ventures, and Valor Equity Partners, according to press releases.

AbbVie seeks at least $8bn in debt to fund Apogee deal. (Bloomberg)

AbbVie is preparing an investment‑grade bond offering to help finance its acquisition of Apogee Therapeutics.

The company is seeking to raise at least $8bn through the debt issuance, with the final size potentially increasing to as much as $10bn depending on investor demand. The proceeds are expected to fund a portion of the acquisition financing.

Howard Schultz-backed pet food maker Open Farm eyes Toronto IPO. (Bloomberg)

Open Farm, a Canadian premium pet food producer, is preparing for an initial public offering that could value the company at around $1bn.

Founded in 2014, the company develops and markets premium dog and cat food products and has expanded through a network of nutrition specialists, manufacturing partners and distributors.

Goldman Sachs-backed Attovia eyes $731.5m valuation in upsized US IPO. (Bloomberg)

Attovia Therapeutics has increased the size of its US initial public offering and is now targeting a valuation of approximately $731.5m, reflecting strong investor demand for biotechnology listings.

The company is seeking to raise about $289m by offering 17m shares at $17 per share, up from its previously proposed offering of 12.5m shares. Proceeds will be used to advance development of its lead drug candidates and support research and development activities.

Robinhood private company fund to back Y Combinator startups. (Bloomberg)

Robinhood Markets has launched marketing for Robinhood Ventures Fund II, a publicly traded closed‑end fund focused on investments in private companies that have participated in Y Combinator accelerator programs.

The fund is offering 7.6m shares at $25 per share in its initial public offering, while affiliates of Robinhood are selling an additional 400k shares as part of the transaction.

Barry Diller’s People urged to drop plan for MGM takeover. (Bloomberg)

Yakira Capital Management has urged People to withdraw its proposed acquisition of MGM Resorts International and focus instead on returning capital to shareholders.

In a public letter, the shareholder argued that the company is not maximizing the value of its existing assets and said the proposed MGM transaction is inconsistent with its strategic focus and investment approach.

KKR closes $19.2bn global infrastructure fund. (Press Release)

KKR has closed its latest global infrastructure fund, KKR Global Infrastructure Investors V (GIIF V), with $19.2bn in capital commitments. The fund attracted strong support from a diverse group of new and existing institutional investors, reinforcing continued demand for large-scale infrastructure strategies despite a challenging fundraising environment.

GIIF V will pursue investments across essential infrastructure sectors, including digital infrastructure, energy transition, power and utilities, transportation, and water and waste management. The firm expects the fund to capitalize on rising infrastructure investment needs and partner with businesses and governments to support the development and modernization of critical assets.

Adams Street Partners raises over $5bn for secondaries investment programme. (Press Release)

Adams Street Partners has raised more than $5bn for its latest private equity secondaries investment programme, surpassing its $2bn target for Global Secondary Fund 8. The programme includes $2.7bn raised for the flagship fund and an additional $2.3bn through separately managed accounts, marking a significant increase from the firm's previous $3.2bn secondaries fundraising completed in 2023.

The fundraising reflects continued investor demand for secondaries strategies as liquidity needs remain elevated across private markets. Adams Street said the current environment presents attractive buying opportunities, driven by slower private equity exits, an increase in motivated sellers, and growing use of GP-led continuation vehicles. The firm expects to focus primarily on lower mid-market transactions across sectors including healthcare, software and consumer.

EMEA

Charterhouse Capital Partners completes the acquisition of Animalcare Group for £235.2m.

Charterhouse Capital Partners, a private equity firm, completed the acquisition of Animalcare Group, a UK‑based veterinary pharmaceuticals company, for £235.2m ($319m), according to press releases.

Animalcare Group was advised by Panmure Liberum (led by Rupert Dearden, Emma Earl and Freddy Crossley), Stifel (led by Ben Maddison and Charles Hoare), Squire Patton Boggs and Alma Strategic Communications (led by Caroline Forde). Charterhouse Capital Partners was advised by Rothschild & Co (led by Julian Hudson and Dimitrios Iroidis), A&O Shearman (led by Tina Barazandeh-Nejad) and Prosek Partners (led by Matthieu Roussellier). Rothschild & Co was advised by Norton Rose Fulbright (led by Paul Whitelock), according to MergerLinks data and press releases.

ASSA ABLOY to acquire Gunnebo Entrance Control from Altor and Stena-backed Gunnebo Group.

ASSA ABLOY, a global access solutions company, agreed to acquire Gunnebo Entrance Control, a provider of entrance control solutions, from Altor and Stena-backed Gunnebo Group, a global security solutions company, according to press releases. Financial terms were not disclosed.

Gunnebo is advised by Evercore, according to MergerLinks data and press releases.

Codis completes the acquisition of the Nottingham facility of Catalent.

Codis, a global contract development and manufacturing organization, completed the acquisition of the Nottingham facility of Catalent, a provider of delivery technologies, development, and manufacturing solutions for biopharmaceuticals. Financial terms were not disclosed.

Codis was advised by Orientation Marketing (led by Miles Fisher-Pollard), according to press releases.

French broadcaster TF1 weighs sale of production arm Studio TF1. (Reuters)

TF1 is exploring a potential sale of Studio TF1, its television production and distribution business, as the French broadcaster evaluates options to focus more heavily on its streaming operations.

The company has appointed Rothschild to advise on the process, which remains at an early stage. No decision has been made and discussions are ongoing.

BP puts biogas unit for sale as O’Neill steps up turnaround. (Bloomberg)

BP is pursuing the sale of another asset as part of a broader effort to simplify its portfolio, strengthen its balance sheet and accelerate debt reduction targets.

The company said it expects to reach its debt goal sooner than previously planned while continuing to review its asset base. The measures form part of a wider strategy aimed at improving performance and restoring investor confidence.

Italy’s Nextalia raises €1.1bn for new private equity fund. (Bloomberg)

Nextalia Investment Management has raised more than €1.1bn ($1.3bn) for its second private equity fund, targeting investment opportunities across Italy.

The fund completed its first close with approximately 200 investors and is expected to continue fundraising toward a target hard cap of €1.5bn by year-end.

APAC

India to sell up to 6.5% LIC stake in over 300bn rupee share sale. (Reuters)

The Indian government plans to sell up to a 6.5% stake in Life Insurance Corporation of India through an offer for sale as the insurer moves to increase its public shareholding.

If fully subscribed, the transaction would raise LIC's public float to 10% from 3.5%, helping the company meet regulatory requirements on minimum public ownership by May 2027.

Chinese robot maker Unitree seen worth over $7.4bn yuan after IPO. (Reuters)

Unitree Technology is preparing for a Shanghai initial public offering that is expected to value the robotics company at more than CNY 50bn ($7.4bn).

According to valuation guidance prepared by IPO sponsor Citic Securities, the Hangzhou‑based company could be worth between CNY 50.6bn ($7.5bn) and CNY 55.9bn ($8.3bn) within six to 12 months of its planned listing. The valuation estimates were distributed ahead of the IPO pricing process.

KKR-backed Infinx Services said to weigh $300m India IPO. (Bloomberg)

Infinx Services is considering an initial public offering in India that could raise up to $300m, joining a growing number of healthcare services companies seeking access to the country's public markets.

The KKR and Norwest Venture Partners-backed healthcare revenue cycle management provider has invited investment banks to pitch for roles on the proposed offering. The IPO is being considered for next year and remains at a preliminary stage.

Chinese startup AI² Robotics is said to consider Hong Kong IPO. (Bloomberg)

AI² Robotics is considering an initial public offering in Hong Kong as it seeks to capitalize on growing investor interest in the robotics and artificial intelligence sectors.

The Shenzhen‑based company is working with advisers on a potential listing that could take place as early as next year. Preparations remain at an early stage and no final decision has been made.

Alibaba-backed 3D-modeling startup Vast is said to weigh HK IPO. (Bloomberg)

Vast, a 3D‑modeling technology company, is considering an initial public offering in Hong Kong as it evaluates options for accessing public capital markets.

The company is working with Bank of America and China International Capital on a potential share sale. Discussions remain preliminary and no final decision has been made regarding the timing or size of the offering.

NTT Data eyeing $9bn outlay for Japan data centers. (Bloomberg)

NTT Data Group plans to invest at least $9bn through 2033 to significantly expand its data center infrastructure in Japan and support growing demand for artificial intelligence computing capacity.

The company expects to increase computing capacity to 1 gigawatt by adding approximately 750 megawatts over the coming years, positioning itself to meet rising demand from businesses investing in AI applications and digital infrastructure.

Australian watchdog proposes more flexibility for IPO marketing. (Bloomberg)

Australia’s corporate regulator has proposed changes that would allow companies planning initial public offerings to begin marketing securities before filing a prospectus.

Under the proposal, issuers would be permitted to advertise planned offerings before formal documentation is lodged, provided investors are given access to a prospectus when securities are offered and certain disclosure requirements are met.

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