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AMERICAS

Ursa Major to go public via SPAC merger with Bleichroeder Acquisition Corp III, in a $2.3bn deal.

Ursa Major, an aerospace and defense company delivering flight-proven capabilities for hypersonics, solid rocket motors, space mobility and launch, to go public via SPAC merger with Bleichroeder Acquisition Corp III, a special purpose acquisition led and backed by Inflection Point Asset Management, in a $2.3bn deal.

Bleichroeder is advised by Cantor Fitzgerald and Reed Smith. Inflection Point Asset Management is advised by White & Case. Ursa Major Technologies is advised by Moelis & Co and Latham & Watkins. Cantor Fitzgerald and Moelis are advised by DLA Piper, according to press releases.

Nayax to acquire IPS Group from Windjammer Capital for $350m.

Nayax, a global commerce enablement, payments and loyalty platform, agreed to acquire IPS Group, a smart parking infrastructure and technology company, from Windjammer Capital, a private equity firm, for $350m, according to press release.

Nayax is advised by Jefferies & Company, Reed Smith and Strategy Voice Associates (led by Scott Gamm). Windjammer Capital is advised by Harris Williams & Co, Kirkland & Ellis and Gregory FCA, according to press releases and MergerLinks data.

Navitas to acquire Claros in a $232.8m deal.

Navitas, an American technology company that designs next-generation power chips using gallium nitride and silicon carbide instead of traditional silicon. agreed to acquire Claros, a chip-to-meter power management company using hardware and software to increase the efficiency of AI infrastructure, in a $232.8m deal, according to press releases.

Navitas Semiconductor is advised by Connected Vision Advisors, Needham & Co, Cozen O’Connor and Shelton Group. Claros is advised by DLA Piper, according to press releases.

Valley National Bancorp to acquire Providence Financial for $247m.

Valley National Bancorp, a bank holding company, agreed to acquire Providence Financial, a commercial and stewardship bank, for $247m, according to press releases.

Providence Financial is advised by Keefe Bruyette & Woods and Dickinson Wright. Valley National Bancorp is advised by TD Securities and Wachtell Lipton Rosen & Katz (led by Matthew M. Guest), according to press releases and MergerLinks data.

HIG Capital to invest in HBK.

HIG Capital, a private equity firm, agreed to invest in HBK, a US integrated accounting, tax, audit, consulting, technology and wealth management firm, according to press release. Financial terms were not disclosed.

HBK is advised by Houlihan Lokey and Levenfeld Pearlstein. HIG Capital is advised by William Blair & Co and Ropes & Gray, according to press releases and MergerLinks data.

E Source completes the acquisition of Aneden Consulting.

E Source, a provider of research, consulting, and data science services to utilities and cities in the US and Canada, completed the acquisition of Aneden Consulting, a power systems engineering firm serving transmission asset owners, independent generators, and renewable energy developers across the US and Canada, according to press
releases. Financial terms were not disclosed.

E Source was advised by McGuireWoods. Aneden was advised by Westbury Group and Taft Law, according to press releases.

TowerBrook Capital Partners completes an investment in Rael

TowerBrook Capital Partners, a private equity firm, completed an investment in Rael, a women’s wellness brand focused on holistic cycle care, according to press releases. Financial terms were not disclosed.

Rael was advised by Jefferies & Company and Sidley Austin. TowerBrook Capital Partners was advised by Benesch Friedlander Coplan & Aronoff, according to press releases and MergerLinks data.

The Vistria Group to acquire a majority stake in Curi Capital.

The Vistria Group, a private investment firm, agreed to acquire a majority stake in Curi Capital, an investment adviser and national wealth management firm, according to press release. Financial terms were not disclosed.

Curi Capital is advised Kilpatrick Townsend. The Vistria Group is advised by William Blair & Co and Winston Taylor, according to press releases and MergerLinks data.

Shore Capital Partners-backed Sweetmore Bakeries completes the acquisition of Fantasy Baking.

Shore Capital Partners-backed Sweetmore Bakeries, a Chicago-based family of specialty SQF-certified bakeries, completed the acquisition of Fantasy Baking, a bakery manufacturer specialising in private label and branded baked goods supported by an in-house R&D lab, according to press releases. Financial terms were not disclosed.

Sweetmore Bakeries is advised by DLA Piper. Fantasy Baking is advised by Alantra and Brownstein Hyatt Farber Schreck, according to press releases.

BiomEdit to acquire the technology platform and pipeline assets of Folium Science.

BiomEdit, an animal health biotechnology company that develops products to improve livestock and pet health, agreed to acquire the technology platform and pipeline assets of Folium Science, a UK biotechnology company that uses CRISPR gene-editing technology to target and remove harmful bacteria in farm animals and crops without using traditional antibiotics. Financial terms were not disclosed

BiomEdit is advised by Lawless Strategic Communications (led by Julie Lawless), according to press releases.

404 Endeavors completes an investment in PrepWizard.

404 Endeavors, a private investment firm, completed an investment in PrepWizard, a US restaurant technology company, according to press release. Financial terms were not disclosed.

PrepWizard was advised by Brown Gibbons Lang & Company (led by Jason Myler and Peter Finn), according to press releases and MergerLinks data.

NVIDIA completes an investment in Blackstone-backed Lancium.

NVIDIA completed an investment in Blackstone-backed Lancium, an energy technology and infrastructure company, according to press release. Financial terms were not disclosed.

Lancium was advised by Vinson & Elkins (led by Michael P. Gibson), according to press releases and MergerLinks data.

McKesson to acquire Precision Medicine Group for $2.25bn.

McKesson, a pharmaceutical and healthcare supplies distributor in North America, agreed to acquire Precision Medicine Group, a clinical research organisation that uses biomarker-driven research, genomics, and specialised laboratory services to design targeted clinical trials, for $2.25bn, according to press releases.

QIA and KDT led a $200m Series D round in Gatik.

Qatar Investment Authority and Koch Disruptive Technologies led a $200m Series D round in Gatik, an autonomous freight technology company, with participation from Millennium Management, ARK Invest and Intact Private Capital, according to press releases.

Energize Capital and DCVC led a $150m Series A round in Emerald AI.

Energize Capital and DCVC, the venture capital firms, led a $150m Series A round in Emerald AI, a software startup that optimises data centre energy consumption, with participation from NVIDIA, Samsung Ventures, Siemens, Aramco Ventures, Salesforce Ventures, GE Vernova, RWE, JERA Ventures, ADVentures, Sabanci Climate Ventures, In-Q-Tel, Radical Ventures, Energy Impact Partners, Lowercarbon Capital, Marunouchi Innovation Partners, Emerson Collective, The Olayan Group, the Temerty Group, John Doerr, Tom Steyer, Earthshot Ventures, Collective Global, and General Catalyst, according to press releases.

Elastic completes the acquisition of Deductive AI from Charles River Ventures for $85m.

Elastic, an open source platform that provides a comprehensive suite of AI-driven solutions, completed the acquisition of Deductive AI, an applied artificial intelligence company, from Charles River Ventures, a venture capital firm, for $85m, according to press releases.

California cancels talks with Paramount over Warner Bros deal. (Reuters)

California Attorney General Rob Bonta canceled a planned meeting with Paramount Skydance regarding potential settlement discussions over the lawsuit seeking to block the company's proposed $110bn acquisition of Warner Bros. Discovery. The reason cited is leaks of negotiation details.

The litigation remains one of the final obstacles to completion of the transaction. As the legal process continues, advisers and potential buyers have expressed interest in assets that could potentially be divested, including New Line Cinema and certain cable network businesses, although no sale process has been announced.

BlackRock pitches TCP private credit assets to rival managers. (Bloomberg)

BlackRock is exploring a sale of the $671m loan portfolio held by TCP Capital as part of efforts to restructure and improve the performance of the private credit fund.

Advisers have begun approaching potential buyers, including alternative asset managers, regarding the portfolio. Discussions are at an early stage, and any transaction could be completed at a discount to the fund's net asset value.

AI cloud provider Lambda in talks for $3bn pre-IPO round. (Bloomberg)

Lambda is in discussions to raise as much as $3bn in a new funding round that could value the AI cloud infrastructure provider at more than $12bn.

The Nvidia-backed company is seeking capital to support the expansion of its AI computing platform and infrastructure services. The fundraising remains under negotiation and could position Lambda for a potential public listing next year.

Nvidia discusses Perplexity investment at $30bn+ valuation. (Reuters)

Perplexity is in discussions to raise a new funding round that would value the artificial intelligence search and software company at more than $30bn.

Nvidia is reportedly considering participating in the financing, which would increase Perplexity's valuation by more than 50% from its previous funding round. The company has experienced rapid revenue growth as demand increases for its AI-powered search and agent products.

Valor, Point72 back General Intuition at $6bn valuation as AI startup pushes into robotics. (TechCrunch)

General Intuition is in discussions to raise a new funding round at a pre-money valuation of approximately $6bn, reflecting growing investor interest in artificial intelligence technologies focused on real-world and autonomous applications.

The financing is expected to include participation from both new and existing investors and would follow a $320m funding round completed earlier this year. The company is developing foundation models designed to enable AI agents to navigate and interact with physical environments.

MassMutual Ventures commits to launch $150m Climate Technology Fund II. (Press Release)

MassMutual Ventures has launched Climate Technology Fund II, a $150m venture capital fund focused on early-stage companies developing climate technology and artificial intelligence solutions for real assets.

The fund will invest in North American businesses operating across sectors including energy infrastructure, real estate and natural resources. Climate Technology Fund II follows MMV's inaugural climate technology fund and will target companies focused on energy systems, digital infrastructure and climate resilience.

EMEA

Radiology Partners to acquire Everlight Radiology from Livingbridge.

Radiology Partners, a technology-enabled radiology practice in the US, agreed to acquire Everlight Radiology, a company that provides remote radiology reporting services to hospitals and imaging clinics to support diagnostic and patient care needs, from Livingbridge, a private equity firm, according to press releases. Financial terms were not disclosed.

Radiology Partners is advised by Barclays, Rothschild & Co, Jones Day, Kirkland & Ellis and Jarrard Phillips Cate & Hancock, according to press releases.

Exponent to invest in KTL.

Exponent, a UK-based private equity firm, agreed to invest in KTL, an Irish specialist provider of engineering services to the telecommunications and power sectors across Ireland and the UK, according to press releases. Financial terms were not disclosed.

KTL is advised by Capnua. Exponent is advised by IBI Corporate Finance, according to press releases.

Siemens Energy taps Goldman Sachs for steam turbine stake sale. (Bloomberg)

Siemens Energy is exploring a potential sale of a majority stake in its steam turbines business, attracting interest from several private equity firms.

CVC Capital Partners, EQT, Bain Capital, Brookfield and KKR are among the firms evaluating potential bids for the business, which could be valued at more than €10bn ($11.7bn). Siemens Energy is working with advisers as it prepares to solicit offers for the unit.

Saudi Aramco signs agreements worth over $3.7bn with French companies. (Reuters)

Saudi Aramco has signed a series of agreements with French companies that could be worth more than $3.7bn in total.

The agreements include procurement contracts covering drilling equipment and oilfield tubular goods, as well as cooperation initiatives focused on industrial artificial intelligence and related technologies.

Arcus weighs £2bn sale of Workdry International. (Bloomberg)

Arcus Infrastructure Partners is exploring a potential sale of Workdry International, a provider of water treatment and infrastructure services.

The investment firm is working with advisers to assess interest from prospective buyers. Workdry could be valued at £2bn ($2.7bn) or more, although discussions remain at an early stage and no transaction has been agreed.

TGJones-owner Modella among potential suitors for Poundland. (Sky News)

Poundland has attracted interest from potential buyers, including Modella Capital, as a sale process for the UK discount retailer progresses.

Modella Capital, which previously acquired Dealz, has been approached regarding a possible bid, although it has not yet committed to an offer. Discussions remain at an early stage and no transaction has been agreed.

Smart ring maker Oura seeks up to $3bn in IPO. (Bloomberg)

Oura Health is pursuing a US initial public offering that could raise up to $3bn and value the smart ring maker at more than $16bn.

The offering could take place as soon as September and is expected to include a significant secondary component, with existing shareholders planning to sell stock alongside the company. Oura develops wearable devices and software focused on health, fitness and sleep tracking.

UK power equipment rental firm Aggreko files for US IPO. (Bloomberg)

Aggreko has publicly filed for a US initial public offering, advancing plans for a stock market listing after returning to profitability.

The private equity-backed power equipment rental company reported net income of $80m on revenue of $1.92bn for the six months ended July 4, compared with a net loss in the corresponding period a year earlier. The filing marks the latest step in the company's planned public market debut.

GoWish valued at more than $200m in fresh funding round. (Bloomberg)

GoWish has raised approximately $15.5m in a new funding round, valuing the Danish wish-list platform at more than $200m.

The company plans to use the proceeds to support expansion in the United States, where its mobile application has gained significant traction. GoWish operates a platform that allows users to create, manage and share wish lists across retailers and social channels.

APAC

Kedaara Capital completes a $200m investment in Tynor Orthotics.

Kedaara Capital, an operationally oriented private equity firm, completed a $200m investment in Tynor Orthotics, an Indian company that designs and manufactures orthopaedic supports, medical braces, and rehabilitation devices, according to press releases.

Kedaara was advised by o3 Capital, according to press releases.

KKR to acquire Ci FLAVORS from L Catterton, Yanagi Capital Partners and eBeauty Group.

KKR, an investment firm, agreed to acquire Ci FLAVORS, a Japanese beauty and lifestyle company that manages and develops personal care brands, from L Catterton, an American private equity firm, Yanagi Capital Partners, a Japanese consumer brands-focused private equity firm, and eBeatuy Group, a digital e-commerce service provider. Financial terms were not disclosed.

Tokio Marine weighs Suncorp, IAG as acquisition targets. (Bloomberg)

Tokio Marine Holdings is evaluating a potential acquisition in the insurance sector and is reported to be nearing a decision after reviewing opportunities in Australia and Canada.

Australia's Suncorp Group has emerged as a leading candidate, although discussions remain ongoing and no transaction has been agreed. Tokio Marine has also assessed other insurers, including Insurance Australia Group and Intact Financial.

ChrysCapital-backed KIMS in talks to acquire stake in Renova Hospitals for $52m. (Deal Street Asia)

Krishna Institute of Medical Sciences (KIMS) is in advanced discussions to acquire a stake in Renova Hospitals, an oncology-focused healthcare provider operating hospitals and care centres across southern India.

The transaction is understood to be in its final stages and could value Renova Hospitals at approximately INR 5bn ($52m). The deal would expand KIMS's presence in specialised healthcare services, including cancer treatment and related medical care.

Shein's up to $1.8bn Hong Kong IPO order book covered. (Reuters)

Shein's Hong Kong initial public offering has been fully covered by investor demand, advancing the fast-fashion retailer's plans to return to public markets.

The offering is expected to raise up to $1.8bn and values the company at as much as $27bn. Demand has come from existing shareholders as well as institutional investors participating in the bookbuilding process.

Al chipmaker Enflame to open subscriptions for $900m Shanghai IPO on September 2. (Deal Street Asia)

Enflame Technology, a Chinese artificial intelligence chip developer backed by Tencent, will open subscriptions for its Shanghai initial public offering on September 2 as it seeks to raise approximately CNY6bn ($892m).

The company plans to issue 43.04m new shares, representing 10% of its enlarged share capital. Proceeds will be used to develop next-generation AI chips and support software and hardware innovation projects.

India's Godrej Industries group signs pact to invest $2bn in Haryana state. (Reuters)

Godrej Industries Group has signed an agreement with the government of Haryana to invest INR 200bn ($2.1bn) in the Indian state as part of its expansion plans.

The investment is expected to support growth across the group's businesses, including consumer products, real estate and financial services, and could create approximately 40k jobs in the region.

South Korea denies report US proposed it buy stake in Westinghouse. (Bloomberg)

South Korea's government has denied reports that the United States proposed an investment by Seoul in nuclear power company Westinghouse Electric.

The response followed media reports that a potential stake acquisition in Westinghouse had been discussed as part of broader cooperation on nuclear energy development in the US. South Korean authorities said no such proposal had been made.

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