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Top Highlights
Corpay, a corporate payments company, and TPG, a private equity company, completed the acquisition of AvidXchange, a provider of accounts payable automation solutions to lower middle market companies, for $2.2bn, according to press releases.
Meta, a social technology company, and Blue Owl Capital, a private equity firm, agreed to form a $27bn joint venture, according to press releases.
Meta is advised by Morgan Stanley, Eversheds Sutherland, Latham & Watkins, Arup, Arthur D Little and Marsh. Financial advisor is advised by Milbank. Blue Owl is advised by Kirkland & Ellis, according to press releases and MergerLinks data.
Ripple, a provider of digital asset infrastructure, agreed to acquire GTreasury, an adaptable treasury solutions provider, from Hg, a private equity firm, for $1bn, according to press releases.
GTreasury is advised by EY Parthenon, Goldman Sachs and Morrison Foerster (led by Patrick Huard). Hg is advised by Cadarn Capital (led by David Harris), according to MergerLinks data and press releases.
Deal Round up
AMERICAS
Blackstone and TPG in advanced talks to acquire Hologic for over $17bn. ( FT)
Advent International exploring $2bn sale of Parfums de Marly business. ( FT)
Mubadala Capital explores potential acquisition of Clear Channel Outdoor. ( Bloomberg)
BC Partners’ new fund raises €1.8bn as first close nears. ( Bloomberg)
EMEA
PayPal to acquire Carlyle’s stake in German e-commerce firm Shopware. (Bloomberg)
EQT explores secondaries acquisitions including Coller and HarbourVest. ( Bloomberg)
Permira prepares $4bn-plus sale of financial data group Octus. ( Reuters)
APAC
Sembcorp is said to be in talks to buy stake in B.Grimm gas assets. ( Bloomberg)
Advantage Partners reportedly aims to raise $1.65bn for its latest Japan private equity fund. ( DealStreetAsia)
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AMERICAS
Vistra, an integrated retail electricity and power generation company, completed the acquisition of seven modern natural gas generation facilities from Lotus Infrastructure Partners, a private equity investment firm, for $1.9bn, according to press releases.
26North, an alternatives platform, led a $700m investment in NEP Group, a media services and technology company, with participation from Carlyle, according to press releases.
NEP Group was advised by Goldman Sachs, Debevoise & Plimpton and Latham & Watkins. 26North was advised by Barclays, Goldman Sachs, Greenhill & Co, RBC Capital Markets and Kirkland & Ellis, according to MergerLinks data and press releases.
BDT & MSD Partners, a merchant bank, completed a minority investment in Designs for Health, a family-owned company specializing in high-quality nutritional supplements and functional foods, according to press releases. Financial terms were not disclosed.
Designs for Health was advised by Canaccord Genuity, Perella Weinberg Partners, Wellvest Capital and Lowenstein Sandler. BDT & MSD Partners was advised by Davis Polk & Wardwell and Sterlington. RoundTable Healthcare Partners was advised by Sidley Austin, according to press releases.
Blackstone and TPG, two alternative asset managers, agreed to acquire Hologic, a medical technology company, for $18.3bn, according to press releases.
Hologic is advised by Goldman Sachs, Wachtell Lipton Rosen & Katz (led by Adam O. Emmerich) and Brunswick Group. Blackstone is advised by Citigroup, Kirkland & Ellis (led by Lauren Colasacco) and Ropes & Gray, according to press releases and MergerLinks data.
MJH Life Sciences, a privately held medical media company, completed the acquisition of BPD Healthcare, a technology-enabled marketing and communications firm, from WindRose Health Investors, a private equity firm, according to press releases. Financial terms were not disclosed.
MJH Life Sciences was advised by Day Pitney. WindRose Health Investors was advised by Houlihan Lokey, William Blair & Co, McDermott Will & Schulte and Lambert & Co (led by Caroline Luz), according to press releases.
MARI, a global events and experiences company, completed the acquisition of Todaytix Group, a ticketing platform for cultural events across the globe, from Great Hill Partners, a private equity firm, according to press releases. Financial terms were not disclosed.
MARI is advised by Akin Gump Strauss Hauer & Feld. Great Hill Partners is advised by FGS Global. TodayTix Group is advised by Paul Hastings (led by Alexander Temel), Moelis & Company and LionTree Advisors, according to press releases and MergerLinks data.
Georgia-Pacific, an American pulp and paper company, and TJC, a private equity firm, completed the acquisition of Anchor Packaging, a manufacturer of rigid food containers and cling film for the food service, retail and processor channels, according to press releases. Financial terms were not disclosed.
Georgia-Pacific was advised by Nomura and Jones Day (led by Darcy White and Bryan E. Davis). Anchor Packaging was advised by Goldman Sachs and RBC Capital Markets, according to press releases.
Cove Hill Partners, an investment firm, completed a $300m investment in Vantaca, an AI-first community association management platform, according to press releases.
Vantaca was advised by William Blair & Co and Goodwin Procter. Cove Hill was advised by Weil Gotshal and Manges (led by Robert Rizzo and Emily Willey), according to MergerLinks data and press releases.
Kelso & Company, a middle market private equity firm, agreed to acquire a 25% stake in Wellington-Altus, a financial services wealth management company located in Winnipeg, for $285m, according to press releases.
Wellington-Altus is advised by Ardea Partners. Kelso & Company is advised by Goldman Sachs and Debevoise & Plimpton (led by Spencer Gilbert), according to press releases and MergerLinks data.
Riverside, a global investment firm, completed the investment in B+N Industries, a designer and provider of engineered architectural solutions and design components, according to press releases. Financial terms were not disclosed.
Riverside was advised by Jones Day (led by Kaitlinn Sliter), according to press releases and MergerLinks data.
Rise Growth Partners, a Texas-based growth equity investment firm, completed the acquisition of a minority stake in Krilogy, a St. Louis-based independent wealth management and financial planning firm, according to press releases. Financial terms were not disclosed.
Rise Growth Partners was advised by StreetCred PR (led by Hannah Dixon and Jimmy Moock), according to press releases.
San Manuel Investment Authority, an investment arm of Yuhaaviatam of San Manuel Nation, completed the acquisition of Waldorf Astoria Monarch Beach Resort & Club, a 400-room oceanfront resort, from Ohana Real Estate Investors, a vertically integrated investment firm focused exclusively on full-service hotels, according to press releases. Financial terms were not disclosed.
Blackstone and TPG in advanced talks to acquire Hologic for over $17bn. ( FT)
Blackstone and TPG are in advanced discussions to acquire Hologic in a deal that could value the medical device manufacturer at more than $17bn, including debt.
A formal agreement could be announced within days, adding that the firms are negotiating a price exceeding $75 per share. The talks remain private and subject to final terms.
Advent International exploring $2bn sale of Parfums de Marly business. ( FT)
Advent International is in early discussions about a potential sale of its Parfums de Marly business, reflecting growing deal activity in the rapidly expanding fragrance sector. The private equity firm is exploring strategic options for the company, which also owns the Initio Parfums Privés brand.
Mubadala Capital explores potential acquisition of Clear Channel Outdoor. ( Bloomberg)
Mubadala Capital, the asset management arm of Abu Dhabi’s sovereign wealth fund Mubadala Investment, is exploring a possible acquisition of Clear Channel Outdoor Holdings.
The firm has been actively working on a potential deal for the billboard operator. If finalized, the acquisition would expand Mubadala’s footprint in the global media and advertising sector.
BC Partners’ new fund raises €1.8bn as first close nears. ( Bloomberg)
BC Partners has secured investor commitments of about €1.8bn ($2.1bn) for its new flagship fund as it nears a first close.
The fundraising could reach €2bn ($2.3bn) at the first close at the end of this year. Deliberations are ongoing, while the size and timing of the fundraising could change depending on market conditions.
EMEA
Tritax Big Box, a provider of critical supply chain infrastructure, completed the acquisition of the portfolio of logistics assets from Blackstone, an alternative asset manager, for £1.04bn, according to press releases.
Tritax Big Box was advised by DTRE, Akur Capital, JP Morgan, Jefferies & Company and Kekst CNC (led by Tom Climie). Blackstone was advised by Newmark Group, Barclays, Rothschild & Co (led by Alex Midgen) and Simpson Thacher & Bartlett (led by Wheatly MacNamara), according to press releases and MergerLinks data.
APG, a Dutch pension investment company, agreed to invest €300m ($350m) in Return, an independent energy storage provider, according to press releases.
Return is advised by Baringa Partners, KPMG, Santander, A&O Shearman and DNV. APG is advised by Montel, Timera, Deloitte, Nomura, Greenberg Traurig and Rina, according to MergerLinks data and press releases.
Hunter Point Capital, an independent investment firm providing capital solutions and strategic support to alternative asset managers, completed the acquisition of 16.1% stake in Equitix, an international investor, developer and fund manager in infrastructure, from Tetragon Financial Group, an investment company, for £209m ($281m), according to press releases.
Equitix was advised by Ashurst. Hunter Point Capital was advised by Latham & Watkins (led by Alexandra Croswell Kelly). Tetragon Financial Group was advised by Bank of America, Dechert (led by Christopher Field) and Prosek Partners (led by Joshua Rosen), according to press releases and MergerLinks data.
HIG Capital, a global private equity firm, completed the acquisition of a 73.8% stake in ALA, a logistics and engineering services provider in the aerospace and defense sectors, from AIP Italia, a holding company owned by Fulvio Scannapieco and Vittorio Genna, for €243m, according to press releases.
HIG Capital was advised by Barclays, UniCredit (led by Andrea Petruzzello), and Perez Llorca. Debt financing was provided by UniCredit. AIP Italia was advised by Mediobanca, Boccia & del Giudice and Gianni & Origoni, according to press releases and MergerLinks data.
PAI Partners, a private equity firm, agreed to acquire a majority stake in Cyrus Group, independent wealth management brand in France, according to press releases. Financial terms were not disclosed.
PAI Partners is advised by Greenbrook (led by Peter Hewer), Havas (led by Sarah Duparc) and ICR Inc (led by Brian Ruby). Cyrus is advised by Rothschild & Co, according to press releases and MergerLinks data.
Ipsen, a biotechnology company, agreed to acquire ImCheck Therapeutics, a private French biotech company, from EQT Life Sciences, a private equity firm, for €1bn ($1.2bn), according to press releases.
PayPal to acquire Carlyle’s stake in German e-commerce firm Shopware. (Bloomberg)
PayPal is set to take over Carlyle Group’s stake in Shopware, increasing its ownership to about 41% from 11%.
Carlyle and PayPal originally invested $100m in the German digital commerce company in 2022 to support its international expansion.
EQT explores secondaries acquisitions including Coller and HarbourVest. (Bloomberg)
EQT is in talks with firms including Coller Capital, HarbourVest Partners, and Pantheon as it looks to expand its secondaries investment business.
The Stockholm-based private equity firm is seeking to acquire a platform focused on buying stakes in private equity, credit, and infrastructure funds from existing investors.
Permira prepares $4bn-plus sale of financial data group Octus. (Reuters)
Permira is preparing to sell Octus, the financial data provider formerly known as Reorg, in a deal that could exceed $4bn.
The London-based buyout firm has begun early talks with banks and may launch an auction next year, capitalising on growing demand for financial data to power AI and technology applications.
APAC
Apollo, an alternative asset manager, agreed to acquire a minority stake in Charles Monat Associates, a life insurance brokerage firm, according to press releases. Financial terms were not disclosed.
Charles Monat is advised by Rothschild & Co and Baker McKenzie. Apollo is advised by Sidley Austin, according to MergerLinks data and press releases.
Arcadea Group, an investment firm that invests in founder-controlled software startups with long-term growth potential, completed the investment in FreightTracker, a transportation management software provider headquartered in Australia, according to press releases. Financial terms are not disclosed.
KKR and Quadrantis Capital, investment firms, agreed to acquire a 13.07% stake in Peak Re, an emerging market reinsurance specialist, according to press releases. Financial terms were not disclosed.
Sembcorp is said to be in talks to buy stake in B.Grimm gas assets. ( Bloomberg)
Sembcorp Industries is in discussions to acquire a minority stake in the gas-fired power business of Thailand’s B.Grimm Power. The Singapore-based company, backed by Temasek Holdings, is considering the purchase of a 25% to 30% stake valued at between $500m and $600m.
The potential deal would value the gas-fired business at about $2bn. Negotiations are ongoing and may not result in a finalized agreement.
Advantage Partners reportedly aims to raise $1.65bn for its latest Japan private equity fund. ( DealStreetAsia)
Tokyo-based mid-market private equity firm Advantage Partners is reportedly looking to raise JPY250bn ($1.65bn) for its latest Japan buyout fund.
According to Mergermarket, the firm kicked off fundraising for its eighth Japan buyout fund this week, aiming for a first close by the end of February next year. The target surpasses the JPY215bn ($1.43bn) raised for Fund IV in 2007, while Fund VII reached its hard cap of JPY130bn ($863m) in April 2023.
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