QXO completes the acquisition of Beacon Roofing Supply for $11bn.

Read on...

Scroll down to read deal descriptions. Your suggestions and comments support the democratisation of M&A data. If you'd like to contribute to the future editions, drop us a line.

AMERICAS

Fury Gold Mines completes the acquisition of Quebec Precious Metals.

Fury Gold Mines, a Canadian-focused exploration company positioned in two prolific mining regions across the country, completed the acquisition of Quebec Precious Metals, a gold explorer with a district-scale land package, according to press releases. Financial terms were not disclosed.

Quebec Precious Metals was advised by Evans and Evans and BCF Business Law. Fury Gold was advised by McMillan, according to press releases.

PCI Pharma Services to acquire Ajinomoto Althea from Ajinomoto.

PCI Pharma Services, a contract development and manufacturing organization, agreed to acquire Ajinomoto Althea, a sterile fill-finish CDMO, from Ajinomoto, a multinational food and biotechnology corporation, according to press releases. Financial terms were not disclosed.

Ajinomoto is advised by Mitsubishi UFJ Morgan Stanley Securities. PCI Pharma Services is advised by Turchette Agency (led by Anna Coviello), according to press releases and MergerLinks data.

Apollo to acquire colocation data center business from Blue Owl-backed STACK Infrastructure.

Apollo, an alternative investment management firm, agreed to acquire colocation data center business from Blue Owl-backed STACK Infrastructure, data center company built from the ground up to address the full stack of client critical infrastructure needs, according to press releases. Financial terms were not disclosed.

Apollo is advised by Latham & Watkins (led by John Guccione and Alexander Stefan Rieger), according to press releases and MergerLinks data.

Riot Platforms completes the acquisition of Rhodium assets at the Rockdale Facility for $185m.

Riot Platforms, an industry leader in vertically integrated Bitcoin mining, completed the acquisition of Rhodium assets at the Rockdale Facility for $185m, according to press releases.

Silver Lake and P2 consider sale of Blackhawk Network for over $5bn. (Bloomberg)

Silver Lake Management and P2 Capital Partners are exploring a potential sale of Blackhawk Network, aiming for a valuation of more than $5bn.

The private equity firms are working with advisers to evaluate options for the prepaid gift card provider, including a possible initial public offering.

Bain Capital in talks to lead $2bn investment in insurance broker Acrisure. (Bloomberg)

A group led by Bain Capital’s special-situations arm is in discussions to invest up to $2bn in insurance broker Acrisure. The investment is expected to be structured as preferred equity.

While terms are not yet finalized and could change, the deal would allow BDT & MSD Partners, which led a $3bn senior preferred stock investment in Acrisure in 2021, to redeem a portion of its existing investment.

Woodside in talks with Kuwait’s Kufpec for stake in US LNG project. (Bloomberg)

Woodside Energy Group is in discussions with Kuwait Foreign Petroleum Exploration to sell a stake in its planned liquefied natural gas export project in the US.

Kufpec is also considering securing LNG supply from the Louisiana-based project. Earlier this month, Woodside sold a 40% stake in Louisiana LNG Infrastructure to Stonepeak, which committed to invest $5.7bn in the gas export facility.

American Airlines ends JetBlue talks and files lawsuit over collapsed alliance. (Reuters)

American Airlines has ended discussions with JetBlue Airways and filed a lawsuit seeking damages following the collapse of the Northeast Alliance.

The two carriers had been negotiating a new partnership to strengthen their networks and loyalty programs after a non-jury trial in May 2023 ruled that the original agreement violated federal antitrust law, a decision later upheld by a US appeals court.

Trump to highlight US investments from Nvidia, Johnson & Johnson, Hyundai and Toyota. (Reuters)

More than two dozen business leaders, including CEOs and senior executives from Nvidia, Johnson & Johnson, Hyundai Motor, Toyota Motor and SoftBank Group, are scheduled to visit the White House for an event showcasing US investments.

President Donald Trump plans to promote a wide range of investments in defense, technology, healthcare, consumer products and investment funds during the "Investing in America" event, marking his first 100 days in office.

EMEA

Hachette Livre completes the acquisition of 999 Games.

Hachette Livre, a publishing group, completed the acquisition of 999 Games, an online e-commerce platform that offers a wide variety of board games, promotional gifts, and card games, according to press releases. Financial terms were not disclosed.

Hachette Livre was advised by Stibbe (led by Duco De Boer), according to MergerLinks data.

Bluewater-backed Fox Innovation completes the acquisition of Sirio Solutions Engineering.

Bluewater-backed Fox Innovation, a provider of advanced technologies aftermarket services and solutions specialized in high-speed rotating equipment, completed the acquisition of Sirio Solutions Engineering, according to press releases. Financial terms were not disclosed.

Fox Innovation was advised by Media Zoo, according to MergerLinks data.

Epsa completes the acquisition of FI Group.

Epsa, a consulting firm owned by Capza, TowerBrook, and Raise, completed the acquisition of FI Group, a company specializing in advising companies on tax deductions for R&D investments and obtaining public subsidies, according to press releases. Financial terms were not disclosed.

FI Group was advised by Arcano Partners (led by Sofia Mendes), according to MergerLinks data.

Terra Firma and Angelo Gordon to acquire Lovat Parks. (Sky News)

Terra Firma, a UK-based private equity firm, and Angelo Gordon, an alternative investment firm focused on credit and real estate, agreed to acquire Lovat Parks, a leisure group operating residential and holiday park locations, according to Sky News. Financial terms were not disclosed.

AI startup Nscale pursues ByteDance partnership and $1.8bn in debt financing. (Bloomberg)

Nscale, a London-based AI startup, is seeking to raise about $2.7bn to build global artificial intelligence infrastructure, supported by a pending partnership with ByteDance.

The plan includes raising $1.8bn in debt, allowing Nscale to develop data centers worldwide equipped with Nvidia chips, which would be leased to companies like ByteDance for AI model training and operations.

Private equity firms eye £400m acquisition of NCC’s Escode division. (Sky News)

Several private equity firms are showing interest in acquiring Escode, one of the main subsidiaries of London-listed cybersecurity specialist NCC Group.

Montagu Private Equity and Bridgepoint are among the firms considering bids for Escode, which focuses on software escrow and verification services.

Historically, Montagu Private Equity has worked with Rothschild & Co, Ernst & Young, Linklaters and Weil Gotshal and Manges, according to MergerLinks data.

Swiss Life to invest in European vertical farming venture with Planet Farms. (Bloomberg)

Swiss Life Asset Managers is finalizing an investment in a European agriculture technology business through a joint venture with Milan-based Planet Farms.

The new venture will focus on developing vertical farming facilities across Europe, the Middle East, and Africa. It is expected to receive an initial capital commitment of up to €200m ($228m) from Swiss Life and Planet Farms.

UK takeover panel extends Qualcomm's bid deadline for Alphawave to May 12. (Reuters)

Alphawave, a British semiconductor company, announced that the UK takeover panel has extended the deadline for Qualcomm to submit a takeover offer to May 12.

Alphawave is in discussions with the US chipmaker and agreed to extend the original April 29 deadline to allow more time for a formal bid under UK regulations.

JAB announces retirement of Peter Harf after over 40 years. (Press Release)

JAB announced that Peter Harf, Chairman and Managing Partner aged 78, has decided to retire after more than four decades with the firm.

He will remain fully invested in JAB and will continue to serve as Chairman of the Board and Managing Director of the Alfred Landecker Foundation, a non-profit organization established by the Reimann family.

APAC

DRC Investments to acquire Amara for $391m.

DRC Investments offered to acquire Amara, an integrated lifestyle group engaged in hotel and property investment and management and specialty restaurants and food services, for $391m, according to press releases.

Amara is advised by SEC Newgate (led by Karin Lai and Lynette Tan). DRC Investments is advised by United Overseas Bank, according to press releases.

ALTÉRRA completes the $100m investment in Evren.

ALTÉRRA, a private climate investment fund, completed the $100m investment in Evren, an Indian renewable energy company, according to press releases.

Lihoo's to acquire China operations from Bakkavor Group for £50m.

Lihoo's, a food technology company, agreed to acquire China operations from Bakkavor Group, a food manufacturing company specialising in fresh prepared foods, for £50m ($67m), according to press releases.

Woongjin to acquire a majority stake in Preed Life from VIG Partners. (DealStreetAsia)

Woongjin, a Korean conglomerate specializing in publishing and education, agreed to acquire a majority stake in Preed Life, a funeral services provider, from VIG Partners, a private equity firm, according to DealStreetAsia. Financial terms were not disclosed.

Decathlon to begin talks to sell 30% stake in China business. (Bloomberg)

Decathlon has launched a process to sell around 30% of its China business.

The French sporting goods retailer is working with an adviser and has attracted initial interest from potential investors. However, the size of the stake remains a point of discussion, as some parties may seek more than a minority share.

Sony considers spinoff of semiconductor unit to sharpen entertainment focus. (Bloomberg)

Sony Group is weighing the spinoff and listing of its semiconductor unit, Sony Semiconductor Solutions, as part of efforts to streamline operations and concentrate on its entertainment business.

The spinoff could take place as soon as this year. Sony is considering distributing most of its stake in the chip division to shareholders while retaining a minority interest after the separation.

HSBC expects up to $1.6bn loss from Bank of Communications stake reduction. (DealStreetAsia)

HSBC announced that its stake in Bank of Communications will decline from 19.03% to around 16%, resulting in a loss of up to $1.6bn following the Chinese bank’s private placement of shares.

In March, four of China’s largest state-owned banks, including Bank of Communications, revealed plans to raise a combined CNY520bn ($71.5bn) from investors, including the finance ministry, to support economic initiatives.

KKR-backed InCred in talks with advisers for $470m IPO in India. (Bloomberg)

InCred Financial Services, an Indian lending firm partnered with KKR, is in discussions with potential advisers for an IPO aiming to raise about INR40bn ($470m).

The Mumbai-based company is in talks with firms including IIFL Securities, Kotak Mahindra Bank and Nomura Holdings to work on the planned offering.

Eco-Shop targets $97m in Malaysia IPO, marking largest debut in eight months. (Bloomberg)

Eco-Shop Marketing, a Malaysian discount retail chain, plans to raise MYR419m ($96m) through an IPO, aiming for Malaysia’s largest market debut in eight months.

The company will offer 347m shares at MYR1.21 ($0.3) each, valuing Eco-Shop at MYR7bn ($1.6bn). An additional MYR623m ($143m) is expected to be raised through a separate share sale to institutional investors.

Bintang, MIDA and FMM launch fund to strengthen Malaysia’s semiconductor sector. (DealStreetAsia)

Bintang Capital Partners, the Malaysian Investment Development Authority and the Federation of Malaysian Manufacturers have launched a fund aimed at advancing Malaysia’s semiconductor industry with a strong emphasis on sustainability.

The initiative combines MIDA’s strategic oversight, FMM’s industry network and Bintang Capital’s financial expertise to develop world-class capabilities, attract premium investments and position Malaysia as a trusted global semiconductor hub.

Temasek’s Gabriel Lim appointed CEO of Seviora. (Press Release)

Gabriel Lim, joint head of corporate strategy at Temasek, will become the new CEO of Seviora, the Singapore state investor’s wholly owned asset management firm.

Goh Yew Lin, Chairman of Seviora, said Lim’s extensive experience in strategy development and stakeholder engagement will strengthen the firm.

Daily Review

Connect the World of Dealmakers