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Top Highlights
Rhône, a global private equity firm, completed the acquisition of Freddy’s, a fast-casual restaurant chain, from Thompson Street Capital Partners, a private equity firm, according to press releases. Financial terms were not disclosed.
Freddy’s was advised by North Point Advisors, William Blair & Co and Fishman PR (led by Meg Ryan). Rhône was advised by Jefferies & Company and Brunswick Group (led by Alex Yankus). Thompson Street Capital Partners was advised by Gregory FCA (led by Jeremy Milner), according to press releases.
Phreesia, a patient activation firm, agreed to acquire AccessOne, a provider of financing solutions for healthcare receivables, from Frontier Growth, a private equity firm, for $160m, according to press releases.
AccessOne is advised by Houlihan Lokey and Womble Bond Dickinson. Phreesia is advised by Goldman Sachs and Lowenstein Sandler, according to press releases.
Cadence, a provider of software and hardware for designing products, agreed to acquire Design & Engineering business of Hexagon, a provider of information technology solutions, for €2.7bn ($3.1bn), according to press releases.
Deal Round up
AMERICAS
Thoma Bravo to sell school safety software provider Raptor Technologies. ( Reuters)
Legend Biotech is said to weigh second listing outside of US. ( Bloomberg)
EMEA
Safran weighs sale of aircraft interiors assets worth $1.76bn. ( Reuters)
Loveholidays’ owner is said to choose banks for London IPO. ( Bloomberg)
APAC
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FINANCIAL ADVISORS
PR ADVISORS
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Read on...
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AMERICAS
Durational Capital Management, an investment firm, agreed to invest in Garage Beer, independent beer brand in the US, according to press releases. Financial terms were not disclosed.
Garage Beer is advised by Centerview Partners, Sidley Austin and FGS Global (led by Danya Al-Qattan). Durational is advised by Davis Polk & Wardwell, according to press releases.
Cerity Partners, an independent wealth management firm, agreed to merge with Graypoint, an Albany, NY–based financial advisory firm, according to press releases. Financial terms were not disclosed.
Graypoint is advised by Republic Capital Group and Alston & Bird. Cerity Partners is advised by Lowenstein Sandler and Prosek Partners, according to press releases.
Redtail Renewables, a renewable natural gas developer and operator, and Pacolet Milliken, a private investment firm, agreed to form a joint venture, according to press releases. Financial terms were not disclosed.
Redtail Renewables is advised by Skadden Arps Slate Meagher & Flom (led by Mingda Zhao) and Line One, according to press releases.
Longshore Capital Partners, an investment firm, completed the acquisition of DemandTec, a pioneer in AI-powered pricing, promotions, markdown optimization, and retail-CPG collaboration, according to press releases. Financial terms were not disclosed.
DemandTec was advised by Robert W Baird and Kramer Levin Naftalis & Frankel, according to press releases.
Strathcona Resources, an oil producer, offered to acquire an additional stake in MEG Energy, a Canadian oil company, for $172.7m, according to press releases.
New England Private Wealth Advisors (NEPWA), a Boston-based RIA that serves high-net-worth families and institutions, completed the acquisition of DHK Financial Advisors, a financial planner, according to press releases. Financial terms were not disclosed.
Thoma Bravo to sell school safety software provider Raptor Technologies. ( Reuters)
Private equity firm Thoma Bravo plans to sell its school safety software provider Raptor Technologies, which could value the company at more than $2bn.
Thoma Bravo, with a portfolio of more than 70 software companies, has tapped investment bankers at JP Morgan to advise Raptor on the sale process, which is expected to launch later this year.
Legend Biotech is said to weigh second listing outside of US. ( Bloomberg)
Legend Biotech is considering a second listing outside of the US, as investors show a strong appetite for drugmakers.
The New Jersey-headquartered company, which has been developing a cell therapy cancer drug with Johnson & Johnson, has discussed the second listing option with potential advisers. Possible venues include Hong Kong, Singapore and London.
EMEA
VSP Vision, a provider of eye health services, agreed to acquire Marcolin, an Italian eyewear manufacturer, from PAI Partners, a private equity firm, according to press releases. Financial terms were not disclosed.
Marcolin is advised by CapM Advisors and Latham & Watkins. VSP Vision is advised by Chiomenti and Kirkland & Ellis, according to press releases.
Regent, a private equity firm, agreed to acquire Petit Bateau, a children's fashion brand, from Groupe Rocher, an international family-run Group, according to press releases. Financial terms were not disclosed.
Groupe Rocher is advised by Rothschild & Co, according to press releases.
Private equity firms TriSpan and McWin completed the investment in Flat Iron, a London-based company specializing in high-quality steak restaurants and casual dining services, according to press releases. Financial terms were not disclosed.
Flat Iron was advised by Houlihan Lokey, according to press releases.
Macquarie, an Australian global financial services group, agreed to acquire a 40% stake in Luz Saude, a private hospital operator, from Fidelidade, a Portuguese insurance company, for €310m ($361m).
Safran weighs sale of aircraft interiors assets worth $1.76bn. ( Reuters)
French aerospace and defense group Safran is exploring the sale of a large part of its aircraft interiors business.
The assets sold could be worth as much as €1.5bn ($1.76bn). The company's cabin seat business, also part of the division, was not for sale.
Loveholidays’ owner is said to choose banks for London IPO. ( Bloomberg)
Private equity firm Livingbridge has selected banks to arrange a potential listing of online travel agent Loveholidays in London, adding momentum to the UK’s capital markets.
Barclays and JP Morgan have been picked to lead the initial public offering. Rothschild & Co. is acting as financial adviser and more banks may be added to the lineup.
APAC
Attalis Capital, a private equity firm, completed the acquisition of a majority stake in Vision Intelligence, a provider of remote surveillance technologies, according to press releases. Financial terms were not disclosed.
Vision Intelligence was advised by Clifford Chance (led by Mark Currell), according to press releases.
Starbucks China valued at about $5bn by bidders. ( Reuters)
Most of the bidders seeking to buy a portion of Starbucks' China operations have submitted offers valuing the business at as much as $5bn.
That quotation would make a potential deal one of the most valuable China unit divestments by a global consumer company in recent years.
BRB weighs new bid for Master after Brazil central bank blocks deal. ( Reuters)
Brazilian state-run lender BRB is weighing a fresh proposal for assets of Banco Master, after the central bank blocked its initial bid, sending BRB shares tumbling on September 4.
BRB, controlled by the Federal District government, said late on Wednesday the regulator had rejected a deal struck in March that would have given it 49% of Master's common shares and 100% of its preferred shares, for a total 58% stake.
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