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Top Highlights
Rocket Lab, a provider of launch and space systems, agreed to acquire Iridium, a provider of global voice, data, and positioning, navigation, and timing satellite services, for $8bn, according to press releases.
Iridium is advised by Evercore, Davis Polk & Wardwell (led by Harold Birnbaum and Shanu Bajaj), Wilkinson Barker Knauer and Joele Frank. Rocket Lab is advised by Deutsche Bank, PJT Partners, Wells Fargo Securities, DLA Piper, Goodwin Procter and Wilson Sonsini Goodrich & Rosati, according to press releases and MergerLinks data.
Zymeworks, a biotechnology company managing a portfolio of licensed healthcare assets and developing a diverse pipeline of novel, multifunctional biotherapeutics, agreed to acquire Theravance Biopharma, a biopharmaceutical company, for $929m, according to press releases.
Theravance Biopharma is advised by Evercore, Lazard and Skadden Arps Slate Meagher & Flom. Zymeworks is advised by MTS Health Partners, TD Cowen, Kirkland & Ellis and Matheson. Financing is provided by OMERS Life Sciences (led by Rob Missere). OMERS Life Sciences is advised by Davies Ward Phillips & Vineberg, Maples Group and Sidley Austin, according to press releases.
CVC Capital Partners, a private equity firm, agreed to invest in Clevertech, a global partner in the design and manufacturing of advanced industrial automated packaging systems, according to press releases. Financial terms were not disclosed.
Clevertech is advised by Baldi Finance, JP Morgan and Baldi Prati & Partners. CVC Capital Partners is advised by Ernst & Young, Bain & Co, dss+, Dabster, UBS, Cleary Gottlieb Steen & Hamilton, Latham & Watkins and Facchini Rossi Michelutti, according to press releases.
AMERICAS
Williams to near $5.5bn deal for Momentum Midstream. ( Bloomberg)
QuidelOrtho looks to sell testing unit as PE circles healthcare companies. ( FT)
EMEA
APAC
GM-backed self-driving firm Momenta seeks $752m from Hong Kong listing. ( Bloomberg)
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COMPANIES
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FINANCIAL ADVISORS
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AMERICAS
Sixth Street, a global investment firm, agreed to acquire a majority stake in Monument Re, a life insurance and reinsurance company, from Hannover Re, a reinsurance company, according to press releases. Financial terms were not disclosed.
Sixth Street is advised by KPMG, Morgan Stanley, Oliver Wyman, Cleary Gottlieb Steen & Hamilton and Debevoise & Plimpton. Monument Re is advised by Fenchurch Advisory Partners, Conyers Dill & Pearman, Herbert Smith Freehills Kramer and Hogan Lovells, according to press releases.
Bridgepoint Group, a UK-based private equity firm, agreed to acquire Kayne Anderson Real Estate, an alternative investment management firm, for $1.393bn, according to press releases.
Bridgepoint Group is advised by BNP Paribas, JP Morgan, Morgan Stanley, Goldman Sachs, Moelis & Co and Simpson Thacher & Bartlett. Kayne Anderson Real Estate is advised by Evercore and Kirkland & Ellis, according to press releases.
Martin Marietta, agreed to merge with Lhoist North America, a producer of lime and industrial mineral products, in a $13.5bn deal, according to press releases.
Martin Marietta is advised by Goldman Sachs, Bredin Prat and Cravath Swaine & Moore. Debt financing is provided by Goldman Sachs. Lhoist Group is advised by BNP Paribas, JP Morgan, Rothschild & Co and Latham & Watkins, according to press releases.
Ipsen, a global biopharmaceutical company, agreed to acquire Kartos Therapeutics, a privately held, clinical-stage biopharmaceutical company, for $1.75bn, according to press releases.
Ipsen is advised by Orrick Herrington & Sutcliffe. Kartos Therapeutics is advised by Goldman Sachs, PJT Partners and DLA Piper, according to press releases.
Comcast, an American multinational mass media, telecommunications, and entertainment conglomerate, is set to spin off NBCUniversal, an American multinational mass media and entertainment conglomerate, according to press releases. Financial terms were not disclosed.
Comcast is advised by Goldman Sachs, PJT Partners and Davis Polk & Wardwell (led by William H. Aaronson and Cheryl Chan), according to press releases and MergerLinks data.
Williams to near $5.5bn deal for Momentum Midstream. ( Bloomberg)
Williams is in advanced talks to acquire Momentum Midstream from EnCap Flatrock Midstream in a deal valued at about $5.5bn. An agreement could be announced within days, though discussions remain ongoing.
The acquisition would expand Williams’s natural gas pipeline network, including assets transporting gas from the Haynesville shale to Gulf Coast LNG export terminals. No final decision has been reached, and the seller could still opt to retain the business.
QuidelOrtho looks to sell testing unit as PE circles healthcare companies. ( FT)
QuidelOrtho is exploring the sale of its point‑of‑care testing unit at a valuation of around $1.5bn. The process has attracted interest from private equity firms, including Advent International, as well as SK Capital Partners and ARCHIMED.
The divestment is aimed at addressing the company’s ~$2.6bn debt load following its prior acquisition of Ortho Clinical Diagnostics. The sale remains at an advanced stage but is not guaranteed to proceed, amid broader private equity interest in healthcare assets despite a challenging deal environment.
EMEA
Investindustrial-backed La Doria, a European supplier of long shelf-life Italian private label specialties, agreed to acquire Solana, a tomato processing firm, from Xenon Private Equity, a private equity firm, according to press releases. Financial terms were not disclosed.
La Doria is advised by New Deal Advisors, Ramboll, Rothschild & Co (led by Alessandro Bertolini Clerici), Chiomenti, Ad Hoc Communication (led by Giorgio Zambeletti) and Studio Chiaravalli & Reali. Xenon is advised by Vitale & Co (led by Alberto Gennarini) and Gatti Pavesi Bianchi Ludovici, according to press releases and MergerLinks data.
CVC Capital Partners, a global private markets manager, agreed to acquire Irca, a global B2B manufacturer of ingredient solutions for the food manufacturing, foodservice and artisanal channels, from Advent, a global private equity investor, according to press releases. Financial terms were not disclosed.
CVC is advised by JP Morgan and Brunswick Group (led by Lorenzo Bruno). Advent is advised by Rothschild & Co, UBS and Community Group (led by Roberto Patriarca), according to press releases and MergerLinks data.
Riesling Ventures, a consortium formed by Viva Wine Group executives, offered to acquire the remaining shares in Viva Wine Group, a European wine group offering a wide range of quality wines to monopoly markets, retailers, restaurants and consumers, for SEK1.29bn ($132m), according to press releases.
Viva Wine Group is advised by ABG Sundal Collier, Grant Thornton and Baker McKenzie. Riesling Ventures is advised by SEB Corporate Finance and Roschier Attorneys. Debt financing is provided by SEB Corporate Finance, according to press releases.
Fortum, a clean-energy company, agreed to acquire Elmera Group, an electricity retailer providing power supply and related services, for NOK5.1bn ($513m), according to press releases.
Fortum is advised by Pareto Securities and BAHR. Elmera Group is advised by ABG Sundal Collier and Haavind, according to press releases.
Ambea, a Swedish-based health and social care company, offered to acquire Humana, a Nordic care company, for SEK2.96bn ($304m), according to press releases.
Ambea is advised by DNB Carnegie Investment Bank, Milbank and Vinge. Humana is advised by BDO, according to press releases.
DWS, an asset management firm, completed the investment in Flannery Plant Hire, the largest operated heavy construction plant-hire company in the UK, according to press releases. Financial terms were not disclosed.
Flannery Plant Hire was advised by Deutsche Bank, according to MergerLinks data.
Korn Ferry, a management consulting firm, agreed to acquire AMS, a human capital solutions provider, from OMERS Private Equity, a private equity firm, for £850m ($1.12bn), according to press releases.
APAC
Power Finance, an Indian public sector undertaking and non-banking financial company, agreed to merge with REC, an Indian public sector company that finances and promotes power projects across India, in an INR2.44tn ($35bn) deal, according to press releases.
IMCD, a partner for the distribution and formulation of speciality chemicals and ingredients, agreed to acquire Merit Solution, a distributor of additives serving the plastics and compounding industry in Thailand, according to press releases. Financial terms were not disclosed.
GM-backed self-driving firm Momenta seeks $752m from Hong Kong listing. ( Bloomberg)
Momenta, the self‑driving technology company backed by General Motors, is seeking to raise about $752m through a planned Hong Kong IPO. The listing would mark one of the larger recent offerings in the autonomous driving sector.
Proceeds are expected to support research and development and commercial expansion as the company scales its autonomous driving solutions. The plans remain subject to market conditions, with timing, size, and valuation still under discussion.
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