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AMERICAS

Onex Partners to acquire Integrated Specialty Coverages from KKR.

Onex Partners, an investment management firm, agreed to acquire Integrated Specialty Coverages, a tech-enabled insurance platform dedicated to designing, underwriting, and distributing insurance solutions, from KKR, a global investment firm, according to press releases. Financial terms were not disclosed.

Debt financing is provided by Apollo Global Management. Apollo is advised by Latham & Watkins (led by Jesse Sheff). KKR is advised by Morgan Stanley and Kirkland & Ellis, according to Mergerlinks data and press releases.

Specialty Building Products to acquire OrePac Building Products.

Specialty Building Products, a distributor of specialty building products, agreed to acquire OrePac Building Products, a regional distributor of specialty building materials, according to press releases. Financial terms were not disclosed.

OrePac is advised by JP Morgan. Specialty Building Products is advised by RBC Capital Markets and H/Advisors Abernathy (led by Deven Anand), according to Mergerlinks data and press releases.

Dark Horse Consulting to acquire Converge Consulting.

Dark Horse Consulting, a strategic and operational consulting firm, agreed to acquire Converge Consulting, a consulting firm, according to press releases. Financial terms were not disclosed.

Converge Consulting is advised by Pharus Advisors and Foley Hoag. Dark Horse Consulting is advised by Fenwick & West, according to press releases.

Atlassian to acquire DX for $1bn.

Atlassian, a provider of team collaboration and productivity software, agreed to acquire DX, a developer intelligence platform, for $1bn, according to press releases.

DX is advised by Fenwick & West (led by Kris S. Withrow, Steven Levine and Stephen Fisher). Atlassian is advised by Maple Media, according to Mergerlinks data and press releases.

Regent to acquire the Avon International business in Europe, Africa and Asia from Natura.

Regent, a private equity firm, agreed to acquire the Avon International business in Europe, Africa and Asia from Natura, a beauty and personal care company, according to press releases. Financial terms were not disclosed.

Natura is advised by Rothschild & Co and Davis Polk & Wardwell (led by Michael Senders), according to Mergerlinks data and press releases.

Sumitomo Mitsui to acquire a minority stake in Jefferies for $810m.

Sumitomo Mitsui, an insurance group, agreed to acquire a minority stake in Jefferies, an investment banking firm, for $810m, according to press releases.

Sumitomo Mitsui is advised by Simpson Thacher & Bartlett (led by Sven Mickisch), according to press releases and MergerLinks data.

Portrait Capital completes the acquisition of AAi Labels & Decals and Sticker Ranch.

Portrait Capital, an investment firm, completed the acquisition of AAi Labels & Decals and Sticker Ranch, printing companies, according to press releases. Financial terms were not disclosed.

SimuTech Group to merge with Ozen Engineering.

SimuTech Group, an engineering firm, agreed to merge with Ozen Engineering, an engineering and consulting company, according to press releases. Financial terms were not disclosed.

ArchKey Solutions to acquire Diefenderfer.

ArchKey Solutions, an installation and integrated facilities services company, agreed to acquire Diefenderfer, an electrical construction and services provider, according to press releases. Financial terms were not disclosed.

Aprio to acquire Mize CPAs and Prism Financial Group.

Aprio, an accounting firm, agreed to acquire Mize CPAs, an advisory firm, and Prism Financial Group, a wealth management firm, according to press releases. Financial terms were not disclosed.

Nexus7Media completes the acquisition of Typhon Interactive.

Nexus7Media, a marketing company, completed the acquisition of Typhon Interactive, a marketing company, according to press releases. Financial terms were not disclosed.

Counsel Press to acquire Firefly Legal.

Counsel Press, a litigation support provider, agreed to acquire Firefly Legal, a legal services company, according to press releases. Financial terms were not disclosed.

Nvidia signals $500m investment in UK self-driving startup Wayve. (WSJ)

US chip designer Nvidia has signed a letter of intent to invest $500m in the next funding round of Britain’s autonomous driving technology company Wayve. The move follows the recent technology pact between Britain and the US aimed at strengthening collaboration in artificial intelligence and related fields.

Founded in 2017, Wayve raised over $1bn last year in a SoftBank-led round supported by Nvidia. Ride-hailing platform Uber also made a separate, undisclosed investment in the company in 2024.

Genuine parts weighs potential breakup after activist deal. (Bloomberg)

Genuine Parts, the Atlanta-based industrials group, is considering a breakup following its recent settlement with activist investor Elliott Investment Management. The review comes as the company looks to streamline operations and unlock value for shareholders.

The firm is weighing a separation of its industrial parts division from its auto parts unit. Options under consideration for the auto business include a possible spinoff, though deliberations remain ongoing.

Navan files for us ipo amid rising revenue. (Bloomberg)

Navan, a business travel and expense management software provider, has filed publicly for a US initial public offering. The Palo Alto-based company is moving ahead with plans to tap public markets after years of growth in the corporate travel and expense sector.

Navan reported a net loss of $100m on revenue of $329m for the six months ending July 31. This compares with a net loss of $92m on revenue of $254m in the same period a year earlier.

Caliber weighs ipo plans with top banks. (Bloomberg)

Caliber, an auto collision repair firm backed by Hellman & Friedman, is considering an initial public offering as early as next year. The Lewisville, Texas-based company has been preparing the groundwork for a listing after filing confidentially with the US Securities and Exchange Commission in July.

Bank of America and Goldman Sachs are leading work on the IPO, with JP Morgan also involved in the deal. The move would mark a major step for Caliber as it looks to tap public markets to support its growth.

Blackstone names Katie Keenan to lead BREIT after leadership tragedy. (WSJ)

Blackstone has appointed Katie Keenan as CEO of its $105bn real estate fund for wealthy individual investors, BREIT, and as global head of its Core+ real estate business. She will take over from Wesley LePatner, who previously led the fund.

LePatner was tragically killed this summer in a shooting at Blackstone’s Manhattan headquarters at 345 Park, where a gunman also killed three others before taking his own life. Keenan’s appointment marks another senior leadership role at the firm going to a top female executive.

EMEA

Monte dei Paschi secures 70.5% of Mediobanca in takeover bid. (Reuters)

Monte dei Paschi di Siena has acquired 70.5% of Mediobanca’s capital, surpassing the threshold needed to pass extraordinary shareholder resolutions.

Its hostile share-and-cash buyout offer concludes on September 22, the final day for Mediobanca shareholders to tender their shares.

Mediobanca is advised by Centerview Partners, Mediobanca, BonelliErede, Chiomenti (led by Marco Maugeri and Filippo Modulo), Cleary Gottlieb Steen & Hamilton, FGS Global (led by Jacqueline Niemeyer) and Tancredi (led by Giovanni Sanfelice di Monteforte), according to press releases.

EQT Partners completes the acquisition of a majority stake in Waga Energy for €332m.

EQT Partners, a global investment organization, completed the acquisition of a majority stake in Waga Energy, an independent biomethane producer, for €332m ($392m), according to press releases.

Waga Energy was advised by Lazard and Jones Day (led by David Swinburne). EQT Partners was advised by Rothschild & Co, Clifford Chance and Havas, according to Mergerlinks data and press releases.

ProA Capital completes the investment in Somos Hijolusa.

ProA Capital, a private equity firm, completed the investment in Somos Hijolusa, a fruit and vegetable production company, according to press releases. Financial terms were not disclosed.

ProA Capital was advised by AZ Capital and Garrigues, according to Mergerlinks data and press releases.

Union Investments and Harel to acquire a 72% stake in ICC-CAL from Israel Discount Bank for $1.12bn. (GLOBES)

Union Investments, a George Horesh investment company, and Harel, an insurance and finance group, agreed to acquire a 72% stake in ICC-CAL, a credit card company, from Israel Discount Bank, a banking institution, for $1.12bn, according to press releases.

Israel Discount Bank is advised by JP Morgan, according to Mergerlinks data and press releases.

Halon completes the acquisition of eleven cyber security.

Halon, a composable email infrastructure company, completed the acquisition of eleven cyber security, an email threat intelligence provider, according to press releases. Financial terms were not disclosed.

Halon was advised by Renzenbrink & Partner (led by Andreas Stoll), according to Mergerlinks data and press releases.

LEA Partners to invest in SEPPmail.

LEA Partners, a venture capital and private equity firm, agreed to invest in SEPPmail, a provider of email security, according to press releases. Financial terms were not disclosed.

SEPPmail is advised by Bar & Karrer (led by Christoph Neeracher and Philippe Seiler), according to Mergerlinks data.

Gresham House to acquire SUSI Partners.

Gresham House, a private equity firm, agreed to acquire SUSI Partners, a specialist investment manager, according to press releases. Financial terms were not disclosed.

Gresham House is advised by Edelman Smithfield, according to press releases.

Enel and CVC Capital-backed Gridspertise completes the acquisition of Energyworx from EDP Ventures.

Enel and CVC Capital-backed Gridspertise, a technology company, completed the acquisition of Energyworx, an energy data management company, from EDP Ventures, an investment company, according to press releases. Financial terms were not disclosed.

Aptiv explores sale of electrical distribution unit. (Bloomberg)

Aptiv, which announced in January it would spin off its electrical distribution systems business, is now approaching potential buyers for the division. The move marks a shift from a planned spinoff to a possible outright sale.

The unit could be valued at about $5bn. Strategic buyers as well as private equity firms are expected to show interest.

NatWest explores sale of workplace pensions provider Cushon. (Sky News)

NatWest Group is preparing to sell Cushon, the workplace pensions provider it bought just two years ago, as its chief executive shifts focus back to the bank’s core strategic priorities. The lender paid £144m ($196m) for a controlling stake in Cushon and has now hired advisers to oversee the sale process.

NatWest is in advanced talks with several potential buyers. Cushon provides workplace pension products as well as a range of workplace ISAs, including Junior ISAs, Lifetime ISAs and General Investment Accounts.

Credit Agricole in talks over possible merger with Banco BPM. (Reuters)

Credit Agricole has been working with Deutsche Bank and Rothschild on a potential merger of its Italian arm with Banco BPM. Banco BPM is exploring tie-up options after fending off a takeover attempt by larger rival UniCredit, amid a wave of consolidation sweeping through Italy’s banking sector.

Banco BPM chief executive Giuseppe Castagna said that a deal with Credit Agricole Italia was the “clearest option” for his group and would be beneficial for the country’s economy.

Greece signals openness to cross-border banking deals. (Bloomberg)

Greece is open to more cross-border banking transactions, whether driven by foreign investors entering its financial sector or by local lenders expanding abroad, Bank of Greece Governor Yannis Stournaras said.

Taking what he described as a “pro-European view” to support banking union and capital markets union, Stournaras said that he hopes this approach will gain wider acceptance.

Smyk prepares for IPO with major banks as coordinators. (Bloomberg)

Smyk, a Polish retailer of children’s toys and apparel, has hired banks to manage an initial public offering that could launch as early as this month. The company has selected Barclays, UniCredit and Pekao Investment Banking as global coordinators.

Smyk and its owners are expected to raise at least €100m ($118m) from the Warsaw listing, which could value the company at about €500m ($590m).

Shawbrook begins early investor talks ahead of possible IPO. (Sky News)

Shawbrook Group has started preliminary discussions with potential investors about an initial public offering of the business-focused lender, even as speculation grows over possible banking tax hikes in the November Budget. Shawbrook and its advisers have been holding pilot-fishing meetings this month while its owners assess the best timing for a flotation.

Private equity owners BC Partners and Pollen Street Capital had originally aimed for a London listing in the first half of this year but delayed the plan. They are now considering launching the IPO before the end of 2025.

APAC

IG Group to acquire Independent Reserve for AUD178m.

IG Group, an online trading platform and educational resources provider, agreed to acquire Independent Reserve, a cryptocurrency exchange, for AUD178m ($118m), according to press releases.

IG Group is advised by Sodali & Co, according to Mergerlinks data and press releases.

Techcom Securities raises $410m in oversubscribed IPO. (DealStreetAsia)

Techcom Securities raised about $410m in its initial public offering after demand exceeded the offering volume by 2.5 times. The brokerage firm is a unit of Vietnam Technological and Commercial Joint-Stock Bank.

Techcom Securities sold around 231.15tn shares to over 26k investors. Bids reached more than 575.16m shares earlier this month, prompting the firm to adopt a pro rata allocation, giving each investor 40.18% of the shares they registered to buy.

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