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AMERICAS

Jacmel-backed Virtual Technologies Group completes the acquisition of Vector Tech Group.

Jacmel-backed Virtual Technologies Group, a single source, IT product and services provider, completed the acquisition of Vector Tech Group, a regional provider of customized and integrated IT solutions, according to press releases. Financial terms were not disclosed.

Vector Tech Group was advised by Woodbridge International and Braun Kendrick Finkbeiner. Jacmel was advised by Ice Miller and Willkie Farr & Gallagher. Virtual Technologies Group was advised by Dukas Linden Public Relations (led by Jansel Murad). Debt financing was provided by Brightwood Capital Advisors, according to press releases.

Dotdigital Group completes the acquisition of Alia Software for $60m.

Dotdigital Group, a provider of cross-channel marketing automation technology to marketing professionals, completed the acquisition of Alia Software, an AI‑powered pop-up and email/SMS list-growth tool, for $60m, according to press releases.

Dotdigital was advised by Cavendish Corporate Finance (led by Jonny Franklin Adams), Singer Capital Markets (led by Shaun Dobson), Canaccord Genuity (led by Bobbie Hilliam) and Alma Strategic Communications (led by Hilary Buchanan), according to press releases and MergerLinks data.

Principal Financial Group to acquire DentaNet from Southland Benefit Solutions.

Principal Financial Group, a global financial investment management and insurance company, agreed to acquire DentaNet, a dental network in the state of Alabama with approximately 1.5k dental providers, from Southland Benefit Solutions, a third-party administrator and insurer, according to press releases. Financial terms are not disclosed.

Southland Benefit Solutions is advised by Sherman & Company and Maynard Nexsen. Principal Financial Group is advised by Perella Weinberg Partners and Skadden Arps Slate Meagher & Flom (led by Todd Freed), according to press releases and MergerLinks data.

Blackstone-backed Enverus to acquire Spatial Business Systems from Peak Rock Capital.

Blackstone-backed Enverus, a data, software, and insights company, agreed to acquire Spatial Business Systems, an intelligent design automation platform, from Peak Rock Capital, a private equity firm, according to press releases. Financial terms are not disclosed.

Spatial Business Systems is advised by Lazard, Lincoln International and Kirkland & Ellis. Peak Rock Capital is advised by Kekst CNC (led by Daniel Yunger), according to press releases.

First Reserve-backed Palmdale Oil completes the acquisition of Fleetwing.

First Reserve-backed Palmdale Oil, a provider of fuels, lubricants, chemicals, propane, and diesel exhaust fluids, completed the acquisition of Fleetwing, a fuel and lubricants distributor, according to press releases. Financial terms were not disclosed.

Palmdale Oil was advised by Raymond James, Jones Walker and Joele Frank (led by Jonathan Keehner). Debt financing was provided by Citizens M&A, according to press releases and MergerLinks data.

Hightower Advisors to acquire Journey Strategic Wealth.

Hightower Advisors, a wealth management firm, agreed to acquire Journey Strategic Wealth, a registered investment advisory, according to press releases. Financial terms were not disclosed.

Hightower Advisors is advised by Prosek Partners. Journey Strategic Wealth is advised by Dalphia Partners and Seward & Kissel, according to press releases.

KYT Group completes the acquisition of Glo Skin Beauty.

KYT Group, a consumer-focused investment and advisory firm, completed the acquisition of Glo Skin Beauty, a professional skincare brand, according to press releases. Financial terms were not disclosed.

KYT Group was advised by TKO Miller. Glo Skin Beauty was advised by Beach House PR, according to press releases.

Axel Springer completes the acquisition of Bisnow from The Wicks Group.

Axel Springer, a media company, completed the acquisition of Bisnow, a commercial real estate media and events company, from The Wicks Group, a private equity firm, according to press releases. Financial terms were not disclosed.

Bisnow was advised by BrightTower (led by Sam Barthelme), according to press releases and MergerLinks data.

Precision Strategies completes the acquisition of Firehouse Strategies.

Precision Strategies, an integrated strategy and marketing agency, completed the acquisition of Firehouse Strategies, a full-service public affairs firm, according to press releases. Financial terms were not disclosed.

Firehouse Strategies was advised by BrightTower (led by Amir Akhavan), according to press releases and MergerLinks data.

Springcoast Capital Partners completes a $180m investment in Cart.com.

Springcoast Capital Partners, a growth equity firm, completed a $180m investment in Cart.com, a provider of unified commerce and logistics solutions, according to press releases.

Lumination Partners and DC Ventures led a $50m Series C round in Polares Medical.

Lumination Partners, a private equity firm, and DC Ventures, an early-stage focused venture capital investment and startup advisory firm, led a $50m Series C round in Polares Medical, a medical device company with a novel device for treating mitral valve regurgitation, according to press releases.

Klotho Neurosciences completes the acquisition of Greenland Mines.

Klotho Neurosciences, a biopharmaceutical company, completed the acquisition of Greenland Mines, a privately held Delaware corporation that controls an 80% interest in, and an option to acquire the remaining 20% of, the Skaergaard Project in Southeast Greenland, according to press releases. Financial terms were not disclosed.

Patient Advocate Foundation completes the merger with PAN Foundation.

Patient Advocate Foundation, a nonprofit healthcare industry company, completed the merger with PAN Foundation, a nonprofit organization that provides financial assistance, advocacy, and education to underinsured patients, according to press releases. Financial terms were not disclosed.

Trane Technologies completes the acquisition of LiquidStack.

Trane Technologies, an American-Irish domiciled company focused on heating, ventilation, and air conditioning and refrigeration systems, completed the acquisition of LiquidStack, a provider in liquid cooling technology for data centers, according to press releases. Financial terms are not disclosed.

Lee Equity Partners completes the acquisition of KCIC.

Lee Equity Partners, a private equity firm, completed the acquisition of KCIC, a consulting firm specialising in helping corporate clients manage high value tort-system liabilities, related insurance assets and litigation challenges, according to press releases. Financial terms were not disclosed.

ASSA ABLOY completes the acquisition of Sam's Garage Doors.

ASSA ABLOY, a firm that develops, designs, and manufactures a complete range of door opening solutions, completed the acquisition of Sam's Garage Doors, a distributor, installer, and servicer of various door products and a manufacturer of gate products, according to press releases. Financial terms were not disclosed.

Triumvirate Environmental completes the acquisition of Environmental Waste Minimization.

Triumvirate Environmental, a provider of hazardous, non-hazardous, and obsolete residual material management and environmental services, completed the acquisition of Environmental Waste Minimization, a full-service environmental management company, according to press releases. Financial terms were not disclosed.

Lin Bin to buy 1% Miami Dolphins stake at $12.5bn valuation. (Bloomberg)

Xiaomi co-founder Lin Bin has agreed to acquire a 1% stake in the Miami Dolphins at a $12.5bn valuation. The purchase values the NFL franchise and related assets at the same level.

The stake includes interests in Hard Rock Stadium and the Formula 1 Miami Grand Prix. The transaction gives Lin exposure to US sports and entertainment assets.

Trump-Spain row may stall $12.2bn Santander-Webster deal. (Reuters)

Santander’s $12.2bn acquisition of US lender Webster Financial could face delays following President Donald Trump’s decision to suspend trade with Spain. The transaction was announced last month.

Wells Fargo analyst Mike Mayo downgraded Webster to underweight, citing potential regulatory hurdles that may affect approval of the cross-border deal.

Stonepeak and Bernhard in talks to buy Cleco Power at $5bn valuation. (Bloomberg)

Stonepeak and Bernhard Capital are in advanced talks to acquire Cleco Power from Macquarie. The deal would value the utility at more than $5bn in enterprise value.

The transaction remains under discussion and could face competing interest. Macquarie has not made a final decision on a sale.

Centurium in advanced talks to acquire Blue Bottle. (Bloomberg)

Centurium Capital Partners is in advanced talks to acquire Nestlé’s Blue Bottle Coffee. The private equity firm is finalizing terms for the coffee roaster and retailer.

Centurium previously backed the turnaround of Luckin Coffee. The transaction would mark an exit for Nestlé from the specialty coffee chain.

Roots explores sale amid strategic review. (Bloomberg)

Canadian apparel retailer Roots has launched a strategic review that could lead to a sale of the company. JPMorgan has been hired to evaluate options to enhance shareholder value.

Roots operates more than 100 stores in Canada and over 100 partner-run locations in Asia. The company has faced years of operational challenges.

Vale Base Metals aims to be IPO-ready by midyear. (Bloomberg)

Vale Base Metals is preparing its nickel and copper business for a potential IPO by midyear, earlier than previously indicated. The unit is accelerating cost reductions and project execution.

Management had previously targeted 2027 for IPO readiness. The division of Brazilian miner Vale is focusing on lowering capital intensity and advancing its project pipeline ahead of a potential listing.

SpaceX adds Citigroup to IPO bank lineup. (Bloomberg)

SpaceX has added Citigroup to the banks leading its planned IPO as the company advances toward a public listing. The move expands the syndicate for what could be a major debut.

Citigroup joins Bank of America, Goldman Sachs, JP Morgan, and Morgan Stanley in senior underwriting roles. The lineup positions SpaceX for a large-scale offering.

EMEA

Avista Healthcare Partners and Damier Group-backed PK Consumer Health to acquire HealthAid.

Avista Healthcare Partners and Damier Group-backed PK Consumer Health, a consumer healthcare platform, agreed to acquire HealthAid, a manufacturer of nutritionally balanced supplements, according to press releases. Financial terms are not disclosed.

Avista Healthcare Partners is advised by Kekst CNC (led by Daniel Yunger). PK Consumer Health is advised by OC&C Strategy Consultants, Eight Advisory and Ropes & Gray. HealthAid is advised by Finvos and Higgs and Sons, according to press releases.

Waterland Private Equity completes the acquisition of Cooper Turner Beck from Watermill Group.

Waterland Private Equity, a private equity firm, completed the acquisition of Cooper Turner Beck, a global provider of safety critical fastening solutions, from Watermill Group, a strategy-driven private investment firm, according to press releases. Financial terms were not disclosed.

Watermill Group was advised by Robert W Baird, CMS Legal and Jasso Lopez, according to press releases.

SPIE to acquire ROFA Industrial Automation.

SPIE, a multi-technical services provider in the areas of energy and communications, agreed to acquire ROFA Industrial Automation, an industrial services provider, according to press releases. Financial terms were not disclosed.

SPIE is advised by DC Advisory (led by Stefan Jaecker) and Image Sept (Image 7) (led by Laurent Poinsot), according to press releases and MergerLinks data.

National Wealth Fund led a $103m Series D round in Oxa.

National Wealth Fund, a public finance institution, led a $103m Series D round in Oxa, an autonomous vehicle software company, with participation from NVentures, IP Group, Hostplus and bp Ventures, according to press releases.

Oxa is advised by Nomura, according to press releases.

Aroundtown to acquire up to 89.5% stake in Grand City Property.

Aroundtown, a real estate company, offered to acquire up to 89.5% stake in Grand City Property, a specialist in buying, optimizing and repositioning real estate, according to press releases. Financial terms were not disclosed.

Grand City Property is advised by Barclays, according to press releases.

MSCI completes the acquisition of Compass Financial Technologies.

MSCI, an American finance company, completed the acquisition of Compass Financial Technologies, an index services provider, according to press releases. Financial terms were not disclosed.

MSCI was advised by Davis Polk & Wardwell (led by William J. Chudd), according to press releases and MergerLinks data.

Levy completes the acquisition of The iLUKA Collective.

Levy, a sports and entertainment caterer, completed the acquisition of The iLUKA Collective, a global sports marketing agency, according to press releases. Financial terms were not disclosed.

D’Ieteren explores IPO or sale of Belron stake at up to $40bn valuation. (Bloomberg)

D’Ieteren has appointed Rothschild to review strategic options for its 50.3% stake in car glass group Belron. Options include an IPO in the US or Europe.

Belron could be valued at more than $30bn and close to $40bn in a stock market listing. The review covers alternatives for the controlling stake.

APAC

Blackstone’s $4bn New World talks stall over control. (Bloomberg)

Blackstone’s talks to invest about $4bn in Hong Kong developer New World have slowed as the Cheng family resists giving up control. The proposal involves a capital injection via a special-purpose vehicle.

Blackstone has offered roughly $2.5bn, with the Cheng family contributing $1bn to $1.5bn. The family is also exploring alternative financing options.

PhonePe targets up to $10.5bn valuation in India IPO. (Reuters)

Walmart-backed fintech PhonePe is planning an India IPO at a valuation of $9bn to $10.5bn. The offering could raise $900m to $1.05bn.

The target range is below the $12bn valuation achieved in a 2023 private funding round. The listing would mark one of India’s largest fintech IPOs.

Rebellions hires JP Morgan for South Korea IPO. (Bloomberg)

AI chip startup Rebellions has appointed JP Morgan as global lead underwriter for its planned IPO in Seoul. The company is preparing one of South Korea’s most closely watched technology listings.

A filing is planned for 2H 2026, with a listing targeted for late 2026 or early 2027. The debut would position Rebellions as a key Nvidia challenger in the AI chip market.

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