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AMERICAS
Calibre Mining, a mining company, completed the acquisition of Marathon Gold, a gold company, for $250m.
“The combination with Marathon perfectly aligns with Calibre's commitment to building a diversified mid-tier gold producer, focused on quality assets with strong re-rate potential for all shareholders. This transformative merger creates a projected 500k oz gold producer and offers our shareholders diversification and exposure to high-quality, long-life production in a tier-1 jurisdiction,” Blayne Johnson, Calibre Mining Chairman.
Calibre Mining was advised by Haywood Securities, Raymond James, Scotiabank, TD Securities, Trinity Advisors Corporation, Cassels Brock & Blackwell (led by Jennifer Wasylyk, Ann Watterworth, Davit Akman, Jay King, David Budd, Tera Li Parizeau, Zahra Nurmohamed, Dianne Rideout, Jennifer Hansen), Greenberg Traurig and Dorsey & Whitney (led by Christopher L. Doerksen). Marathon Gold was advised by Canaccord Genuity, Maxit Capital, National Bank Financial, Mason Law and Norton Rose Fulbright.
Franklin BSP Capital, a business development company, completed the merger with Franklin BSP Lending, a non-listed business development company. Financial terms were not disclosed.
“We are pleased to announce the completion of the merger between FBLC and FBCC. We believe this transaction will be immediately accretive to stockholders and unlock nearly $700m of capital that we can deploy into a very attractive origination environment. We look forward to capitalizing on the combined company’s synergies and will continue to deliver strong growth and long-term value for our stockholders,” Richard Byrne, Franklin BSP CEO & Chairman.
Franklin BSP Capital was advised by Keefe Bruyette & Woods (led by Allen
Laufenberg), Dechert, Simpson Thacher & Bartlett, Benefit Street Partners and Franklin Templeton. Franklin BSP Lending was advised by JP Morgan, Dechert and Sullivan & Worcester. JP Morgan was advised by Debevoise & Plimpton (led by Andrew Bab).
Roper Technologies, a diversified industrial company, agreed to acquire Procare Solutions, a child care software company, from Warburg Pincus, a private equity firm, and TA Associates, a private equity firm, for $1.86bn.
"Our mission at Procare is to meet the complete management and family communication needs of all child care organizations, helping centers improve the education of young learners. I am proud of the successes and growth of our company and look forward to working with the Roper team to take us to the next level. I would also like to thank Warburg Pincus and TA for their support and partnership, resulting in this exciting new chapter for our company. Through our partnership, we have achieved incredible growth and had substantial impact on the child care industry, providing essential technology and automation tools for centers and families to navigate everything from addressing day-to-day needs to managing child care through a global pandemic," JoAnn Kintzel, Procare Solutions CEO.
Webster Financial, a commercial bank, completed the acquisition of Ametros Financial, a custodian and administrator of medical funds from insurance claim settlements, from Long Ridge Equity, an investment firm. Financial terms were not disclosed.
“This acquisition closely aligns with our strategic focus on building a diverse and unique funding base. Ametros’ market position and value proposition for its clients and partners underpin a robust growth trajectory for this highly complementary business. Ametros builds on Webster’s history of developing non-traditional deposit verticals with a favorable financial profile, including HSA Bank and interLINK," John Ciulla, Webster Financial President and CEO.
Webster Financial was advised by Wachtell Lipton Rosen & Katz (led by Matthew M. Guest). Long Ridge Equity was advised by Choate Hall & Stewart (led by Daniel Riley).
Yellow Wood Partners-backed Suave Brands Company, a personal care products company, agreed to acquire ChapStick, a lip care brand, from Haleon, a British multinational consumer healthcare company, for $430m.
"The Yellow Wood team established Suave Brands Company in May 2023 to acquire the Suave brand from Unilever. We saw the opportunity to grow Suave with a more focused management approach while also creating the corporate infrastructure to acquire and manage additional personal care brands across multiple categories to drive synergies across the platform. We are excited to add ChapStick, another leading brand with deep equity and history, into our platform," Daniel Alter, Suave Brands Company CEO.
Yellow Wood is advised by Chris Tofalli Public Relations (led by Chris Tofalli).
Arcane Capital Partners, a privately held investment firm, completed the acquisition of a majority stake in Petroflex North America, a plastic fabrication company, from Transition Capital Partners, a private equity firm. Financial terms were not disclosed.
Petroflex manufactures superior quality, continuous length HDPE (High Density Polyethylene) conduit and accessories for the Electric Utility, Renewables (Wind & Solar), Irrigation, Telecommunications and Data/Voice industries.
Transition Capital Partners was advised by Lincoln International.
Highview Capital and A&M Capital-backed GS Foods, a food service distribution company, completed the acquisition of Diamond Foods, a packaged food company. Financial terms were not disclosed.
“We are excited about the opportunities this partnership brings for both our employees and customers. Joining the GS Foods family, a company that shares our mission and values, opens new avenues for growth and ensures our legacy of excellent service to the Louisiana community continues,” Jerry Sax, Diamond Foods Founder and CEO.
GS Foods was advised by Fiona Hutton & Associates.
Halifax-backed Case Facilities Management Solutions, a provider of all snow and ice management services, completed the merger with Landscape Effects Property Management, a facilities services company. Financial terms were not disclosed.
"We're thrilled to continue to support Jason and the Case FMS and LFX teams as they execute on their strategic growth plans and believe this merger will be transformative for both companies, delivering enhanced value, superior services, and innovative solutions to the exterior property maintenance market," Davis Hostetter, Halifax Principal.
Kadant, a high-value, engineered systems supplier, completed the acquisition of KWS Manufacturing, a bulk material handling and related equipment company, for $84m.
“We are pleased to welcome our colleagues from KWS to the Kadant family. Our acquisition of KWS expands our respective product portfolios and enhances our internal capabilities. With our shared focus on bringing highly engineered customer solutions to process industries and our past successes working together, we believe KWS is an excellent fit with Kadant,” Jeffrey L. Powell, Kadant President and CEO.
Evriholder Products, a housewares company, completed the acquisition of Progressive International, an innovative kitchen and home products producer. Financial terms were not disclosed.
“We are thrilled to partner with Progressive. They have an excellent reputation in the industry and are known for developing unique, innovative, and functional products backed by their best-in-class product development engine,” Ivan Stein, Evriholder CEO.
Qualfon Group, a full-service marketing solution and contact center service provider, agreed to acquire VOXDATA Solutions, an outsourced call centre services provider, from Brown Gibbons Lang & Company, an independent investment bank and financial advisory firm. Financial terms were not disclosed.
"The acquisition of VOXDATA will expand Qualfon's global reach and service offerings to include Canadian on-site and remote French-language capabilities and further Qualfon's mission to be an industry leader, offering an increasing number of employment opportunities worldwide. Leveraging VOXDATA's well-established client base, skilled workforce, and expanded industry representation presents Qualfon with an avenue for substantial growth," Brown Gibbons Lang & Company.
SubSplit Services Group, a construction services company, agreed to acquire MIINC Mechanical Contractors, a Dallas mechanical contractor. Financial terms were not disclosed.
"We set out to partner with great MEP businesses looking to continue their purpose driven culture and solidify ownership succession. We've done just that with MIINC. Buying in with John and the rest of MIINC, LP's management team is a great privilege for us. We are excited to lean in with MIINC as they continue to deliver uptime solutions to owners and contractors in their market," Matthew Brennan, SubSplit Services Group Managing Partner.
Chevron's Duvernay sale seen attracting mid-sized Canadian shale operators.
As Chevron markets its Duvernay shale assets, the US oil major is most likely to find a buyer among a handful of mid-sized Canadian firms that are boosting investment in a region that has yet to fulfil its potential, Reuters reported.
The play is situated in west-central Alberta and currently produces nearly 200k barrels of oil equivalent per day. It is much smaller than the nearby Montney shale play and the major US plays like the Permian.
SL Green to raise money for $1bn NYC property debt fund.
SL Green Realty plans to start raising funds for a New York City opportunity debt vehicle this month, Bloomberg reported.
The Manhattan-based real estate investment trust is targeting $1bn.
Broad Sky Partners appoints MD. (People)
Broad Sky Partners, a private equity firm that partners with middle market business services and consumer services companies, has expanded its investment team with the appointment of RJ David as Managing Director.
Prior to joining Broad Sky, David was a Principal at Carlyle, working within its flagship US buy-out and mid-market growth funds and responsible for sourcing, evaluating and executing investments across the consumer and media sector. During his time at Carlyle, David served on the boards of Every Man Jack, Array Marketing, Service King and Luminex Home Décor & Fragrance.
EMEA
Bruker, a manufacturer of scientific instruments, agreed to acquire Chemspeed, a provider of lab automation & digitalization technology. Financial terms were not disclosed.
“Our team is excited to join Bruker to further boost automated and digitalized workflows for our customers. With decades of experience in automating R&D workflows, our modular solutions accelerate developments, allowing lab technicians and scientists to focus on their core competencies and creativity,” Rolf Gueller, Chemspeed Founder and CEO.
Hillhouse vying for Everstone's $1bn Asia health services firm Everlife. (FS)
Global investment firm Hillhouse is emerging as one of the final few bidders for Everlife Holdings in a deal that could value the Asian healthcare services company at up to $1bn, Reuters reported.
The deadline of the final binding bid for Everlife, which offers products and solutions to clinical and scientific laboratories in South and Southeast Asia, is January 31.
US Fund KPS explored takeover offer for UK's Elementis. (FS)
KPS Capital Partners recently explored a bid for UK specialty chemicals maker Elementis but has since paused its work, Reuters reported.
The New York-based private equity firm in December submitted an offer valuing the FTSE 250 company at about 160p per share, but the Elementis board wanted around 180p.
IAG's bid to buy out Air Europa may reduce competition, EU says.
British Airways owner IAG's bid to buy out Air Europa may reduce competition on domestic, short-haul and long-haul routes, EU antitrust regulators said on January 24 as they opened a full-scale probe into the €400m ($436m) deal, Reuters reported.
The deal underlines the wave of consolidation among airlines, with Germany's Lufthansa seeking to buy a minority stake in Italy's state-owned ITA Airways, and Korean Air looking to buy Asiana.
Italian gas grid operator Snam to invest €11.5bn by 2027.
Italy's Snam will invest €11.5bn ($12.5bn) by 2027 to expand its infrastructure to support the country's energy transition, 15% more than in its previous business plan, Reuters reported.
In its new strategy, the state-controlled group will focus on the construction of a new pipeline and the completion of liquefied natural gas infrastructure. It will also invest in energy transition businesses including a carbon capture and storage hub and the development of a European hydrogen network.
APAC
India's Zee quits $1.4bn cricket rights deal with Disney.
India's Zee Entertainment has told Walt Disney it does not intend to move forward with a deal to pay around $1.4bn for cricket TV rights it acquired from the US company, Reuters reported.
Zee told Indian stock exchanges in August that it had signed a strategic licence agreement with Disney to take over certain International Cricket Council TV broadcast rights for four years, starting in 2024, while the US company would retain streaming rights.
Warburg-backed Perfios weighing $500m India IPO. (FS)
Perfios Software Solutions, an Indian technology company backed by Warburg Pincus, is considering an initial public offering that could raise about $500m in India, Bloomberg reported.
A potential IPO could value the Bangalore-based company at about $2bn. Perfios is seeking to hire banks to help arrange a share sale that could take place as early as this year.
Hitachi, NEC seek up to $2.1bn through Renesas share sale.
Hitachi and NEC are seeking to raise a total of up $2.1bn by selling off their stakes in Japanese chipmaker Renesas Electronics, in what will be Asia’s largest additional share sale so far this year, Bloomberg reported.
The two holders are offering 123m shares at JPY2.474 ($16.8) to JPY2.528 ($17.1) each in a block trade. The price represents a discount of 6% to 8% discount.
Malaysia set to appoint PNB CEO to lead country's biggest pension fund. (People)
Malaysia is expected to name Ahmad Zulqarnain Onn, group CEO of the country’s largest asset manager Permodalan Nasional Berhad, as the head of its biggest state pension fund, DealStreetAsia reported.
The appointment will fill the role left vacant after Prime Minister Anwar Ibrahim in December named Amir Hamzah Azizan, the previous CEO of the Employees Provident Fund, as second finance minister in a cabinet reshuffle.
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