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AMERICAS

Purpose Unlimited to acquire Steadyhand.

Purpose Unlimited, a Canadian financial services firm, agreed to acquire Steadyhand, an independent wealth management services provider, according to press releases. Financial terms were not disclosed.

Steadyhand is advised by Relay Transition Partners and McCarthy Tetrault. Purpose Unlimited is advised by Osler Hoskin & Harcourt and Kaiser & Partners (led by Keera Hart), according to press releases.

Cintas failed to acquire UniFirst for $5.3bn.

Cintas, a provider of a range of products and services to businesses including uniforms, failed to acquire UniFirst, a uniform rental company, for $5.3bn, according to press releases.

Roper Technologies to acquire CentralReach from Insight Partners for $1.65bn.

Roper Technologies, a company designing, manufacturing and distributing vertical software and technology enabled products, agreed to acquire CentralReach, a cloud-native electronic health record and practice management software provider, from Insight Partners, a venture capital and private equity firm, for $1.65bn, according to press releases.

Naftali to acquire 800 Fifth Avenue apartment tower for $800m. (Bloomberg)

Naftali, a global real estate development and investment firm, agreed to acquire 800 Fifth Avenue apartment tower located in Manhattan, for $800m, according to Bloomberg.

Ategrity Specialty Insurance files for IPO with rising revenue and profit. (Bloomberg)

Ategrity Specialty Insurance, which offers excess and surplus coverage to small and mid-sized companies in the US, has filed for an initial public offering.

In 2024, the New York-based company reported $344m in revenue and $47m in net income, compared to $241m in revenue and $10m in net income in the previous year.

Advent nears $3bn-plus continuation fund for Xplor. (Bloomberg)

Advent is close to finalizing a single-asset continuation fund for Xplor Technologies, valuing the payments company between $3bn and $4bn.

The fund will be led by AlpInvest from Carlyle Group and Coller Capital. It is Advent’s first continuation vehicle of this kind, following six months of development.

Falfurrias Management Partners raises $1.35bn for Fund VI. (Press Release)

Falfurrias Management Partners has closed its latest oversubscribed middle-market private equity fund, Falfurrias Capital Partners VI, with $1.35bn in investor commitments. The firm’s previous fund, raised in 2021, totaled $850m.

Alongside Falfurrias Growth Partners, its dedicated growth buyout fund focused on software and business services, the firm is currently investing $1.75bn across active funds and has raised around $3.6bn in capital since inception.

EMEA

Italy's Banco BPM secures over 50% of Anima as Caltagirone tenders stake. (Reuters)

Banco BPM, an Italian bank, has secured over 50% of the shares in Anima, a fund manager it aims to acquire.

This milestone was reached after businessman Francesco Gaetano Caltagirone agreed to tender his 5.8% stake, adding to Banco BPM’s existing 22% holding and other investor commitments.

Anima is advised by A&O Shearman (led by Emanuele Trucco). Banco BPM is advised by Citigroup, Lazard and Legance (led by Filippo Troisi), according to press releases and MergerLinks data.

AnaCap to acquire a majority stake in Fiduciaire Jean Marc Faber.

AnaCap, a private equity investor, agreed to acquire a majority stake in Fiduciaire Jean Marc Faber, an independent provider of trust, fund, and corporate services based in Luxembourg, according to press releases. Financial terms were not disclosed.

AnaCap is advised by Proskauer Rose, Van Campen Liem and EQ Partners (led by James Culverhouse), according to press releases and MergerLinks data.

Ardian to acquire Akuo.

Ardian, a private equity firm, agreed to acquire Akuo, a renewable energy company, according to press releases. Financial terms were not disclosed.

Akuo is advised by Nomura. Ardian is advised by Headland Consultancy. ICG is advised by Rothschild & Co, according to press releases and MergerLinks data.

Blackstone to acquire Warehouse REIT for £489m.

Blackstone, a private equity firm, offered to acquire Warehouse REIT, a real estate investment trust with a portfolio and investment strategy focusing on urban warehouses, for £489m ($632m), according to press releases.

Blackstone is advised by Rothschild & Co, according to press releases.

Gabon Oil Company to acquire Tullow Oil Gabon for $300m.

Gabon Oil Company, a national oil and gas exploration and production company, agreed to acquire Tullow Oil Gabon, a Gabon subsidiary of multinational oil and gas exploration company, for $300m, according to press releases.

Tullow Oil is advised by Camarco (led by Billy Clegg), according to press releases.

Ithaca Energy to acquire North Sea business of JAPEX for $223m.

Ithaca Energy, a North Sea oil and gas operator, agreed to acquire North Sea business of JAPEX, a hydrocarbon exploration, production, and transportation company, for $223m, according to press releases.

Ithaca Energy is advised by FTI Consulting (led by Ben Brewerton), according to press releases.

ADIA to acquire a minority stake in European Camping Group from PAI Partners.

Abu Dhabi Investment Authority, a globally-diversified investment institution, agreed to acquire a minority stake in European Camping Group, a European player in the outdoor accommodation sector, from PAI Partners, a private equity firm, according to press releases. Financial terms were not disclosed.

PAI Partners is advised by Ropes & Gray (led by Fabrice Cohen), according to press releases and MergerLinks data.

Crédit Agricole Assurances to acquire a minority stake in Whysol Renewables.

Crédit Agricole Assurances, an insurance group, agreed to acquire a minority stake in Whysol Renewables, an Italian independent renewable power producer, according to press releases. Financial terms were not disclosed.

Crédit Agricole Assurances is advised by Credit Agricole, according to press releases and MergerLinks data.

KIRKBI, M&G Investments and Lightrock led a €240m round in AMBOSS.

KIRKBI, M&G Investments and Lightrock, private equity firms, led a €240m ($260m) round in AMBOSS, a medical knowledge platform dedicated to physicians and students, with participation from existing shareholders, according to press releases.

Pepkor to acquire four clothing and homeware brands of Retailability for ZAR1.9bn. (Bloomberg)

Pepkor, a South African apparel retailer, agreed to acquire Legit, Swagga, Style and Boardman, clothing and homeware brands of Retailability, a South African retail group, for ZAR1.9bn ($104m), according to Bloomberg.

Oakley Capital closes Fund VI at €4.5bn hard cap. (Press Release)

Oakley Capital has closed Fund VI at its hard cap of €4.5bn ($4.9bn), following strong support from existing investors and a near-100% re-up rate.

The fund attracted €2.2bn ($2.4bn) in new institutional commitments from Europe, North America and Asia, with additional participation from Australia and Latin America. Oversubscribed within three months, Fund VI marks a 58% increase in size compared to Fund V.

APAC

Shareholders of Thailand's Intouch approve merger with Gulf Energy. (Reuters)

Shareholders of Thailand-based telecom operator Intouch Holdings approved the proposed $25bn merger with Gulf Energy, led by billionaire Sarath Ratanavadi. However, the transaction still faces hurdles as it requires consent from affiliated companies.

Gulf Energy is advised by UBS and Linklaters (led by Pornpan Chayasuntorn). Singtel is advised by Morgan Stanley, according to press releases and MergerLinks data.

KKR signs MoU with FUJI SOFT founding family to acquire full ownership. (Press release)

KKR has signed a memorandum of understanding with the founding family of FUJI SOFT to take the company private through FK, an entity backed by KKR-managed investment funds.

Following the completion of two tender offers for FUJI SOFT’s shares and options, FK will acquire full ownership through a squeeze-out and share repurchase. The shareholder meeting for the squeeze-out is set for April 25, 2025, with the share repurchase expected after early June 2025.

KKR & CO is advised by Mitsubishi UFJ Morgan Stanley Securities and Simpson Thacher & Bartlett (led by Noritaka Kumamoto and Jonathan Stradling), according to press releases and MergerLinks data.

Macrovalue to acquire Singapore food business of DFI Retail for $93m.

Macrovalue, a Malaysian retail group, agreed to acquire Singapore food business of DFI Retail, an Asian retailer, for $93m, according to press releases.

DFI Retail is advised by Morgan Stanley and Black Dot, according to press releases and MergerLinks data.

Zepto plans $250m secondary sale ahead of IPO to boost Indian ownership. (Bloomberg)

Online grocer Zepto is preparing a secondary sale of up to $250m in existing shares to increase Indian investor ownership ahead of its planned IPO later this year.

The private equity units of Motilal Oswal Financial Services and Edelweiss Financial Services are in discussions to acquire shares from current stockholders.

China to invest CNY1tn in robotics and high-tech industries. (Press Release)

China’s National Development and Reform Commission has launched a state-backed venture capital fund targeting robotics, AI and other advanced technologies. Over the next 20 years, the long-term fund is expected to attract nearly CNY1tn ($138bn) from local governments and private investors.

The initiative aims to strengthen China’s position in tech-driven manufacturing. Over the past decade, the country’s global share of industrial robot installations has grown from about one-fifth to over half of total worldwide demand.

CBC Group reaches $966m first close for debut RMB M&A fund. (DealStreetAsia)

CBC Group, an Asia-based healthcare asset manager, has completed the first close of its inaugural RMB-denominated M&A fund at over CNY7bn ($966m).

The fund targets a final close of CNY10bn ($1.4bn).

EQT raises nearly $490m for ninth Asia-focused buyout fund. (DealStreetAsia)

Swedish private equity firm EQT has secured close to $490m for its ninth Asia buyout fund, based on filings with the US Securities and Exchange Commission.

BPEA Private Equity Fund IX, SCSp raised $11m, while BPEA Private Equity Fund IX, SCSp brought in $477m. A total of 18 investors participated across both vehicles. The filings reflect capital raised from US-based investors.

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