Standard BioTools completed the merger with SomaLogic in a $1bn deal.

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AMERICAS

Standard BioTools completed the merger with SomaLogic in a $1bn deal.

Standard BioTools, an analytical laboratory instrument manufacturing company, completed the merger with SomaLogic, a protein biomarker discovery and clinical diagnostics company, in a $1bn deal.

"This is an exciting day as we officially bring together the innovative multi-omic technologies and incredible talent of Standard BioTools and SomaLogic to create one company that is a diversified leader in life sciences tools. We are moving forward with a significantly expanded and diversified platform, greater financial flexibility and an accelerated path to profitability. As a larger well-capitalised company, we have greater capacity to self-fund future growth initiatives and accelerate research insights across the industry, better serving our customers and delivering sustainable long-term growth for our shareholders. We are focused on ensuring a smooth transition and achieving our stated commitments," Michael Egholm, Standard BioTools President and CEO.

SomaLogic was advised by Perella Weinberg Partners, TD Cowen, Fenwick & West (led by David Michaels, Julia Forbess and Ethan Skerry), Gilmartin Group and Joele Frank (led by Daniel Katcher). Financial advisors were advised by Skadden Arps Slate Meagher & Flom (led by Blair Thetford). Standard BioTools was advised by Centerview Partners, Mintz Levin, CapComm Partners and Collected Strategies (led by Dan Moore and Nick Lamplough).

Sycamore Partners completed the acquisition of Chico's FAS for $1bn. (FS)

Sycamore Partners, a private equity firm, completed the acquisition of Chico's FAS, a Florida-based fashion company, for $1bn.

"Joining the Sycamore portfolio of leading retail brands marks an important milestone for Chico's FAS and continues our journey as a customer-led, product-obsessed, digital-first, and operationally excellent company. Sycamore and Chico's FAS both share a commitment to providing solutions, building communities, and creating memorable experiences to bring women confidence and joy. We look forward to working together to reach even greater levels of success," Molly Langenstein, Chico's FAS CEO and President.

Chico's FAS was advised by Solomon Partners, Paul Weiss Rifkind Wharton & Garrison (led by Laura Turano and Scott Barshay) and Joele Frank (led by Barrett Golden and Leigh Parrish). Sycamore Partners was advised by UBS, Kirkland & Ellis and Joele Frank (led by Michael Freitag).

Capital Square Partners completed the acquisition of Startek for $217m. (FS)

Capital Square Partners, a private equity investment firm, completed the acquisition of Startek, a contact center company, for $217m.

"For more than 35 years, Startek has delivered customer experience excellence for the world's leading brands. Spread across 12 countries, our 38k associates create memorable, personalised experiences in both voice and non-voice channels. Our clients span from fortune 500s to fast-growing startups in a diverse range of industries including cable, media and telecom; travel and hospitality; retail and e-commerce and banking and financial services," Startek.

Startek was advised by Houlihan Lokey, Gibson Dunn & Crutcher (led by Saee Muzumdar), Gateway Investor Relations (led by Cody Cree) and Joele Frank (led by Viveca Tress and Kaitlin Kikalo). Houlihan Lokey was advised by Sullivan & Cromwell (led by Eric M. Krautheimer). Capital Square Partners was advised by Latham & Watkins (led by Sidharth Bhasin).

Forum Energy Technologies completed the acquisition of Variperm Energy Services from SCF Partners for $150m. (FS)

Forum Energy Technologies, a company that offers manufactured technologies and applied products to the energy industry, completed the acquisition of Variperm Energy Services, a company that engineers and manufactures Sand Control and Flow Control products for operators around the world, from SCF Partners, a private equity firm, for $150m.

"This accretive acquisition enhances FET's downhole and artificial lift product portfolio by adding a leading manufacturer of customised downhole technology solutions in sand and flow control for heavy oil applications. We expect the combined global footprint of FET and Variperm to benefit both legacy FET and Variperm products. We are excited to welcome the Variperm employees to the FET team," Neal Lux, FET President and CEO.

Variperm Energy Services was advised by Tudor Pickering Holt, Bennett Jones and Vinson & Elkins (led by Mike Marek). Forum Energy Technologies was advised by Goldman Sachs, Gibson Dunn & Crutcher (led by Tull Florey), Goodmans.

Thoma Bravo completed the investment in BlueMatrix. (FS)

Thoma Bravo, a software investor, completed the investment in BlueMatrix, a publisher of investment research. Financial terms were not disclosed.

"BlueMatrix's fully integrated, cloud-based solutions meet the critical needs of investment banks and research analysts working within the highly regulated investment research industry. We are excited to leverage our deep sector expertise to support BlueMatrix as the company continues to revolutionise investment research workflow through continued innovation," Adam Solomon, Thoma Bravo Partner.

BlueMatrix was advised by Stifel (led by Ben Tompkins) and Mintz Levin. Thoma Bravo was advised by Raymond James, Kirkland & Ellis (led by Kristen Molloy and Bradley Reed) and FGS Global (led by Liz Micci). Debt financing was provided by Golub Capital.

Aviva completed the acquisition of Optiom from Novacap for £100m. (FS)

Aviva, a British multinational insurance company, completed the acquisition of Optiom, a Canadian vehicle replacement insurance business, from Novacap, a North American private equity firm, for £100m ($127m).

"The acquisition strengthens our offering and distribution capabilities in a highly attractive segment of the Canadian insurance market. We know Optiom well through our existing relationship and are excited about what we can do together to better serve our brokers and customers," Tracy Garrad, Aviva Canada CEO.

Novacap was advised by BMO Capital Markets.

MC2 Titanium completed the acquisition of Trustwave from Singtel for $205m. (FS)

MC2 Titanium, a growth equity fund firm, completed the acquisition of acquire Trustwave, a Chicago-based cybersecurity arm, from Singtel, multinational telecommunications conglomerate and one of the four major telcos operating in the country, for $205m.

"Alongside MC², The Chertoff Group, and their tremendous expertise, we are positioned to further extend the global reach of our comprehensive offensive and defensive cybersecurity portfolio, providing organisations with unmatched protection and strategic guidance. I'm exceptionally proud of Trustwave's evolution as a leader in the MDR industry, marked by rapid growth with discerning enterprise buyers that outpaces the market, and sustained momentum with clients around the globe. This strategic partnership with MC² and The Chertoff Group serves as a testament to our ongoing innovation and commitment to delivering unparalleled cyber value," Eric Harmon, Trustwave CEO.

Novo, OrbiMed, and F-Prime Capital led a $100m Series A financing round in OnCusp Therapeutics. (FS)

Private equity firms Novo, OrbiMed, and F-Prime Capital led a $100m Series A financing round in OnCusp Therapeutics, a biopharmaceutical company, with participation from Sofinnova Investments, Catalio Capital Management, Marshall Wace, Forge Life Science Partners, Blackbird BioVentures, CJNV BioVenture and BioTrack Capital.

"We are grateful to have the trust and support from some of the most prominent global biotech investors. I am also thankful to the OnCusp team for their commitment and excellent work. We hold a strong conviction to develop innovative oncology therapies for patients. This significant Series A financing enables OnCusp to accelerate the development of CUSP06 and other game-changing therapeutics in our fight against cancer," Bing Yuan, OnCusp Therapeutics Co-Founder and CEO.

Alger Group to acquire Redwood Investments. (FS)

Alger Group, an asset management group, agreed to acquire Redwood Investments, an equity investment boutique. Financial terms were not disclosed.

"We are thrilled to be acquiring Redwood, a boutique investment specialist that has an outstanding track record and team, shared alignment with clients, and global perspectives that will benefit our clients in the US, Europe and Asia. Redwood's cross-portfolio insights and qualitative and quantitative approach to analyzing growth equity companies will complement our investment process across our existing portfolios," Dan Chung, Alger CEO.

JF Petroleum completed the merger of Dykstra Construction and Miller Construction Management.

JF Petroleum, a provider of fueling system solutions, completed the merger of Dykstra Construction, a licensed and insured certified building contractor, and Miller Construction Management, a project management service provider. Financial terms were not disclosed.

"This rebranding is not just a union of two companies, it's bringing to market the most unique, comprehensive and innovative construction services portfolio offering ever. JF Construction Services is not just a new name; it's a promise of excellence, reliability, and innovation. It further demonstrates our commitment to delivering high-quality, cost-effective, and sustainable construction solutions to our customers across all sectors," Keith Shadrick, JF Petroleum Group CEO.

JDE Peet's completed the acquisition of the Brazilian coffee and tea business from JAV Group.

JDE Peet's, a coffee and tea company, completed the acquisition of the Brazilian coffee and tea business from JAV Group, a conglomerate of companies operating in varied market segments, such as food, agribusiness, packaging and exports. Financial terms were not disclosed.

"We are delighted to welcome Maratá's coffee & tea organisation to JDE Peet's. Maratá's portfolio and geographical presence are highly complementary to our existing franchise in Brazil. Together, we will serve more cups across a full range of price points and product offerings while expanding our regional presence in Brazil, one of the world's largest coffee markets," Fabien Simon, JDE Peet's CEO.

Southwestern, Chesapeake Energy close to $17bn merger. (FS)

US natural gas producer Chesapeake Energy and peer Southwestern Energy are nearing a merger that would create a nearly $17bn company, Reuters reported.

A potential deal could create a company that would overtake EQT as the largest natural gas-focused exploration and production firm in the US by market value, at a time when shale companies seeking scale and efficiencies are fueling a rapid consolidation in the energy sector.

Synopsys in advanced talks to acquire software maker Ansys.

American electronic design automation company Synopsys is in advanced talks to acquire engineering software provider Ansys for about $35bn, Bloomberg reported.

Synopsys is discussing paying about $400 a share for Ansys, in a deal that could be announced as soon as next week. A final agreement hasn't been reached and talks could still fall through or the terms could change.

Mexico retailer Tiendas 3B taps Wall Street banks for US IPO.

Mexican discount retailer Tiendas 3B has picked a trio of Wall Street banks for a potential initial public offering in the US, Bloomberg reported.

The company is working with JP Morgan, Morgan Stanley and Bank of America on a potential listing as soon as in the first half of the year. No final decision has been made and plans could still fall apart.

News startup Puck taps former Twitter customer chief Perspnette as CEO. (People)

Puck tapped the former Twitter executive Sarah Personette as chief executive officer of the news startup, where she will be tasked with shepherding its expansion into new coverage areas and markets, WSJ reported.

The two-year-old publication, whose writers focus on covering power brokers in tech, media, finance and politics, has amassed around 40k full-paying subscribers and surpassed $10m in revenue in 2023.

Rocket Companies hires former Airbnb CMO Jonathan Mildenhall as its CMO. (People)

Rocket Companies, the parent of mortgage lender Rocket Mortgage, has hired Jonathan Mildenhall to be its first chief marketing officer, WSJ reported.

The Detroit-based company said Mildenhall, a well-known marketing executive who is set to start, will be responsible for creating a more unified voice for Rocket Companies businesses, which also include home search platform Rocket Homes, personal finance app Rocket Money and advertising company Core Digital Media. Marketing and communications teams for Rocket Companies brands will report to Mildenhall, who will report to Rocket Companies Chief Executive Varun Krishna.

EMEA

L'Occitane to acquire Dr. Vranjes Firenze from Bluegem Capital Partners. (FS)

L'Occitane, a manufacturer and retailer of premium and sustainable beauty and wellness products, agreed to acquire Dr. Vranjes Firenze, a luxury home fragrance brand, from Bluegem Capital Partners, a private equity firm. Financial terms were not disclosed.

"Bluegem supported our strategic vision and enabled meaningful growth while honouring the rich heritage of Dr. Vranjes. With the support of Bluegem we have reached significant milestones, and it is with great pride that I hand over the legacy of Dr. Vranjes to the L'Occitane Group, a group known for its distinguished heritage and expansive global reach," Paolo Vranjes, Dr. Vranjes Firenze Founder and Chairman.

L'Occitane is advised by Lempriere Wells, Legance and Skadden Arps Slate Meagher & Flom. Bluegem is advised by ERM Group, BPER Banca, Deloitte, New Deal Advisors, Rothschild & Co, DLA Piper, Gattai Minoli Agostinelli & Partners and Latham & Watkins.

One Rock Capital Partners completed the acquisition of Constantia Flexibles from Wendel for €1.1bn. (FS)

One Rock Capital Partners, a private equity firm, completed the acquisition of Constantia Flexibles, a manufacturer of consumer and pharmaceutical flexible packaging, from Wendel, a family-held investment company, for €1.1bn ($1.2bn).

"In recent years under Wendel's ownership, Constantia Flexibles transformed its business performance, developed an innovative pipeline of more sustainable products and completed multiple acquisitions. With diverse geographic and end market presence, the Company is well-positioned to continue expanding its suite of packaging solutions amidst regulatory developments and a changing climate, and we look forward to partnering with One Rock during this next chapter," Pim Vervaat, Constantia CEO.

Constantia Flexibles was advised by Ernst & Young, Evercore and Willkie Farr & Gallagher. One Rock Capital was advised by JP Morgan, Latham & Watkins and Prosek Partners. Wendel was advised by Kekst CNC.

An investor consortium to acquire Byggfakta for $986m. (FS)

An investor consortium includes Macquarie Capital, Stirling Square Capital and TA Associates, offered to acquire Byggfakta, a software and information company, for $986m.

"As long-standing shareholders of Byggfakta, Stirling Square and TA have strong belief in the company's future prospects and are dedicated to establishing Byggfakta as a leading information services and software provider to the global construction industry. Achieving such a position requires access to additional growth capital and operational resources to accelerate the long-term delivery of its stated strategy, including additional international M&A. Stirling Square and TA, together with Macquarie Capital, a leading global investor, are committed to supporting this transformation and believe it is best suited to a private markets environment. We believe that the Offer reflects an attractive premium and a good opportunity for Byggfakta and its shareholders. We are also pleased to have the unanimous support of the independent bid committee as well as the former CEO and current board member of Byggfakta, Stefan Lindqvist, who has undertaken to accept the Offer," Henrik Lif, Stirling Square Partner.

Byggfakta is advised by Carnegie Investment Bank and Vinge. The consortium is advised by Morgan Stanley, Gernandt & Danielsson, Goodwin Procter (led by Carl Bradshaw and Hugh O'Sullivan), Linklaters and Fogel & Partners.

Kingspan Group completed the acquisition of a 51% stake in Steico from Schramek for €251m.

Kingspan Group, a high performance insulation and building envelope solutions provider, completed the acquisition of a 51% stake in Steico, a company engaged in the construction industry, from Schramek, a management services provider, for €251m ($282m).

"The acquisition of a majority stake in Steico represents an exciting next step in our strategy to provide the full spectrum of insulation products. Its suite of wood-based building envelope solutions broadens our ability to enable our customers to meet their sustainability and energy performance needs. Kingspan's global routes to market, paired with our drive to innovate and widen the applications of Steico's current technologies, are key to our plans to bring Steico bio-based solutions to the next level," Gene Murtagh, Kingspan CEO.

Kingspan Group was advised by Murray Consultants. Schramek was advised by HSBC.

Ant Group close to buying Dutch payments firm MultiSafepay in $200m deal.

Ant Group is closing in on a deal to buy Dutch payments firm MultiSafepay as part of the Chinese financial technology group's latest push into Western payment markets, DealStreetAsia reported.

The transaction, subject to regulatory approval, is expected to value MultiSafepay at around $200m. It generates $50m in revenue.

The acquisition follows Ant Group's purchase of Singapore-based payments firm 2C2P in 2022. Ant, which operates the cross-border payments platform Alipay+, also bought British payments group WorldFirst in 2019 for $700m.

Cineworld's ex-billionaires seek funds to acquire movie theaters.

Mooky and Israel Greidinger, who built Cineworld Group into the world's second-largest theater chain only to see the company go bankrupt during the pandemic, are looking to get back into the movie business, Bloomberg reported.

The brothers have held talks with banks and investment funds to raise capital for potential acquisitions of theaters.

Coatue shuts Europe venture office as startups struggle. (FS)

Investment firm Coatue Management is closing its European office in London two years after it opened, part of a strategy overhaul to adjust to a downturn in the technology market, Bloomberg reported.

The fund's leaders described the decision as an effort to "streamline" its investing approach, prioritizing domain expertise over regional coverage, "Our commitment to European ventures remains steadfast as you would expect from a firm with three European leaders."

Deutsche Bank taps Citi veteran Harding-Jones for global M&A. (People)

Deutsche Bank has hired former Citigroup investment banker Alison Harding-Jones as its global head of mergers and acquisitions, Bloomberg reported.

She will report to Mark Fedorcik, global co-head of Deutsche Bank's investment bank.

Harding-Jones is a well-known name in UK banking circles and one of the most senior women in European finance. She previously ran Citigroup's M&A business across Europe, the Middle East and Africa.

LVMH roles held by Bernard Arnault's children. (People)

LVMH Chairman and CEO Bernard Arnault's five children have been moving up the ranks of the luxury empire. All of them hold top management roles in the company, Reuters reported

Delphine Arnault, 48, became chairman and CEO of fashion label Christian Dior Couture in February last year. Antoine Arnault, 46, is head of communications, image and environment for LVMH as well as chairman and CEO of Christian Dior. Alexandre Arnault, 31, is executive vice president, in charge of product and communications at Tiffany. Frederic Arnault, 29, became CEO of LVMH watches in January 2024. He was CEO of Tag Heuer from 2020 to 2023. Jean Arnault, 25, has been director of marketing and development of Louis Vuitton's watches division since August 2021, when he joined.

APAC

Brookfield Asset Management to acquire the Indian operations of American Tower for $2.5bn. (FS)

Brookfield Asset Management, a private equity firm, agreed to acquire the Indian operations of American Tower, an American real estate investment trust which owns and operates wireless and broadcast communications infrastructure, for $2.5bn.

"We look forward to expanding and enhancing our existing telecom tower portfolio in India, which enables a broader array of solutions for our customers and partners. Through strategic acquisitions like ATC India, we remain deeply committed to empowering digital connectivity and transforming the telecom infrastructure landscape across the region," Arpit Agrawal, Brookfield Managing Director, Head of Infrastructure.

Brookfield is advised by S&R Associates. American Tower is advised by CDX Advisors, Citigroup and Talwar Thakore & Associates.

HCYC Group to go public via a SPAC deal with AlphaTime Acquisition for $75m.

HCYC Group, an insurance group, agreed to go public via a SPAC deal with AlphaTime Acquisition, a blank cheque company, for $75m.

Upon the closing of the mergers, HCYC is expected to become a NASDAQ-listed public company trading under a new ticker symbol. HCYC's executive management team will continue to lead HCYC. There can be no assurance that HCYC will remain listed on NASDAQ.

AlphaTime Acquisition is advised by Han Kun Law Offices and Winston & Strawn.

Novartis completed the acquisition of SanReno Therapeutics.

Novartis, a global medicines company, completed the acquisition of SanReno Therapeutics, a clinical-stage company specialising in the discovery, development, and commercialisation of innovative therapies for kidney diseases. Financial terms were not disclosed.

"The acquisition of SanReno by Novartis is a testament to the unwavering dedication and relentless innovation of the SanReno team. It validates our commitment to pushing the boundaries in kidney disease therapeutics. We are thrilled to join forces with Novartis, a global pharmaceutical leader, in our shared mission to bring forth potentially transformative medicines for patients battling kidney diseases in China and beyond. Today marks an exciting new chapter in our journey to making a meaningful impact in the field of renal health," Haoyu Huang, SanReno Therapeutics CEO.

SanReno was advised by Morgan Stanley.

Phoenix Tree Capital Partners led a $113m investment round in Zhejiang Zhongning Silicon Industry. (FS)

Phoenix Tree Capital Partners, a private investment firm, led a $113m investment round in Zhejiang Zhongning Silicon Industry, a maker of silane gas and electronic-grade polysilicon, with participation from Capital Operation, Hengxu Capital and China Cinda Asset Management.

The proceeds will help the Quzhou-headquartered firm to expand its production capacity as well as accelerate its product iteration.

3D Investment Partners raises stake in Japanese beverages maker Sapporo. (FS)

Singapore-based 3D Investment Partners has become the largest shareholder in Japanese beverages manufacturer Sapporo after increasing its stake several times in recent months, DealStreetAsia reported.

In October last year, Sapporo launched a strategic review of its business, having come under pressure from shareholders, including 3D, unhappy with stagnant growth. Since then, 3D has increased its shareholding multiple times. It held 5.09% until around the end of October but now holds 15.97%.

CVC considers selling minority stake in Vietnam's Asia Commercial Bank. (FS)

CVC Capital Partners is considering selling its minority stake in Vietnam's fourth biggest non-state-owned commercial lender, Asia Commercial Bank, DealStreetAsia reported.

The Europe-based alternative investment firm is in talks with an adviser to explore the sale of its stake of less than 5% in the Ho Chi Minh-listed bank following approaches from potential buyers, including from Japan.

Thai retailer says it's received no communication about Selfridges investment.

Central Retail, one of Thailand's biggest retailers, said that it has not received any communication about investing in the iconic Selfridges department store, which is majority owned by its parent company, Blomberg reported.

Responding to recent news about Selfridges' cash crunch, the company clarified that it was not in discussions with its parent, Central Group, about any investment opportunity in the UK brand.

Beijing pushes equity fund launches to revive stock market.

Beijing has informally asked some money managers in China to prioritise the launch of equity funds over other products like bond funds as authorities scramble to revive its lagging stock market, DealStreetAsia reported.

China's $3.8tn mutual fund industry is a key pillar of the country's capital markets, but has seen sales, especially those of equity funds tapering off over the past year as stock benchmarks test multi-year lows.

The move to launch new equity funds is part of a campaign by the authorities in the world's second-largest economy over the past year to revive the stock market and boost investor confidence dented by a destabilising property sector crisis and sputtering growth.

Pakistani logistics firm plans IPO after Asia's best rally.

Secure Logistics Group is aiming for an initial public offering in Pakistan that could raise at least INR 750m ($2.7m), following a surge in the country's stock market, Bloomberg reported.

The Islamabad-based company plans to sell about 63m shares in the first quarter of this year, according to Shahid Ali Habib, chief executive officer at Arif Habib, which is the sole financial adviser and bookrunner for the deal. The proceeds will be primarily used to reduce the company's debt.

Secure Logistics will become Pakistan's first listed logistics company once the share sale is completed. The nation's benchmark KSE-100 Index has rallied about 50% in the last six months, making it Asia's best-performing market after the government secured a bailout from the International Monetary Fund to avert a default.

Taiwan's Fubon Life commits $300m to buyout, infra funds. (FS)

Fubon Life Insurance, the insurance unit of Taiwanese financial conglomerate Fubon Financial, has committed to invest a total of $300m in two private equity funds and two infrastructure investment vehicles, DealStreetAsia reported.

Fubon Financial said its insurance unit is investing in PE funds New Mountain Partners VII and ICG SE V and infrastructure funds Stonepeak Infrastructure Fund V and Global Infrastructure Partners V-C.

China's Richen Capital hits first close of Fund V at $141m, targets $282m. (FS)

Richen Capital has held the first close of its fifth flagship fund at over CNY 1bn ($140.8m), as the Chinese investment firm targets to hit the final close of CNY 2bn ($281.6m) within the next 12 months, DealStreetAsia reported.

China-based Richen Capital, which has over CNY 10bn ($1.4bn) in accumulated assets under management, set up Fund V to continue its focus on investments in growth-stage startups in the fields of digital technology, smart manufacturing, and related applications.

BlackRock appoints Hua Fan as China head, succeeding Tony Tang. (FS, People)

BlackRock has appointed Hua Fan, formerly general manager of its majority-owned China asset management unit, as head of China, DealStreetAsia reported.

Fan, who joined the world's largest asset manager in 2022 to lead its 51%-owned China joint venture, has been promoted to oversee BlackRock's entire China onshore business, including the venture, a fully-owned fund management unit and a private fund platform.

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