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AMERICAS
Sullivan Street Partners, a private equity investor, completed the acquisition of the aerostructures business from Senior, a manufacturer of high technology components and systems, for £200m ($270m), according to press releases.
Sullivan Street Partners was advised by Aon Securities, Chartwell, Hilco Valuation Services, EOS Deal Advisory, Steen Associates, Stifel, Mayer Brown (led by Electra Callan) and PricewaterhouseCoopers. Senior was advised by Lazard (led by Richard Shaw), Slaughter & May (led by Victoria MacDuff) and FGS Global (led by Richard Webster-Smith), according to press releases and MergerLinks data.
Tortuga Resorts, a joint venture between KSL Capital Partners and Rodina, completed the acquisition of the real estate portfolio of Playa Hotels & Resorts, an all-inclusive oceanfront resorts owner, from Hyatt, an American multinational hospitality company, for $2bn, according to press releases.
Tortuga was advised by Joele Frank (led by Kate Thompson) Goldman Sachs (led by Stephen Hawinkels) and Simpson Thacher & Bartlett (led by Fred de Albuquerque). Hyatt was advised by Berkadia Real Estate Advisors, BDT & MSD Partners and Latham & Watkins (led by Samuel Newhouse), according to press releases and MergerLinks data.
Warburg Pincus, a private equity firm, agreed to invest $225m in OceanFirst, a bank holding company, according to press releases.
OceanFirst is advised by JP Morgan, Keefe Bruyette & Woods and Simpson Thacher & Bartlett (led by Sven Mickisch). Warburg Pincus is advised by Jefferies & Company and Wachtell Lipton Rosen & Katz (led by Mark F. Veblen and Mark Stagliano) , according to press releases and MergerLinks data.
Coforge, an Indian multinational information technology company, agreed to acquire Encora, a global digital engineering company, from Advent and Warburg Pincus, two private equity investors, for $2.35bn, according to press releases.
Encora is advised by Khaitan & Co. Coforge is advised by BDA Partners and JSA Advocates & Solicitors, according to press releases.
Blackford Capital, a private equity investment firm, agreed to acquire Moro Corporation, a construction products and services company, providing HVAC, electrical, structural steel, sheet metal ductwork and services to a variety of commercial and residential customers, for $34m, according to press releases.
Blackford Capital is advised by McGuireWoods. Moro Corporation is advised by Harter Secrest & Emery and Paramax, according to press releases.
D1 Capital Partners, a global investment firm, led a $1bn financing round in Kraken, a fintech company operating a cryptocurrency exchange platform, with participation from Fidelity International, Durable Capital Partners and Ontario Teachers' Pension Plan, according to press releases.
D1 Capital Partners was advised by Paul Weiss Rifkind Wharton & Garrison (led by Edward Ackerman and Oliver Marcuse), according to MergerLinks data.
Prysmian, a company specializing in transmission and storage systems, and Fincantieri, a shipbuilding company, agreed to acquire Xtera, a network equipment and services company, from HIG Capital, a global alternative asset investment firm, according to press releases. Financial terms are not disclosed.
Ares Management CEO sets sights on private equity for the firm’s next growth move. ( FT)
Private credit powerhouse Ares Management is considering acquiring a major private equity firm to strengthen its leveraged buyout operations and compete with larger players, CEO Michael Arougheti.
Arougheti explained that the move could position Ares to capitalize on growing interest from US retirement plans in private assets, giving the firm the scale needed to rival industry giants like Blackstone, KKR, and Apollo Global Management.
EMEA
Advent, a private equity investor, completed the acquisition of a 70% stake in the essential home business from Reckitt Benckiser, a consumer goods company, in a $4.8bn deal, according to press releases.
LCM Partners, an European alternative investment fund manager, agreed to acquire the consumer vehicle finance business from Secure Trust Bank, a specialist lender, for £459m ($620m), according to press releases.
Shimadzu, an industrial and testing equipment manufacturer, agreed to acquire Tescan Group, a manufacturer of scanning electron microscopes, from Carlyle, a global investment firm, for $678m, according to press releases.
Shimadzu is advised by Mitsubishi UFJ Morgan Stanley Securities and Clifford Chance, according to MergerLinks data.
Daiwa, an investment company, agreed to acquire a 49% stake in the offshore electricity transmission assets of International Public Partnerships, an investment company, for £42m, according to press releases.
International Public Partnerships is advised by Deutsche Numis (led by Hugh Jonathan) and FTI Consulting (led by Maxime Lopes), according to press releases.
Mubadala, the Abu Dhabi sovereign investor, completed a €300m ($354m) investment in Actis-backed Rezolv Energy, an independent renewable energy platform, according to press releases.
Actis was advised by Simpson Thacher & Bartlett (led by Jiaying Zhang), according to MergerLinks data.
CVC-backed FutureLife Group, a European provider of IVF, fertility treatments and related genetic services, and Ethmar International, a progressive investment holding company, agreed to form a joint venture, according to press releases. Financial terms were not disclosed.
FutureLife is advised by White & Case (led by Steven Worthington), according to MergerLinks data.
Hg-backed Visma is said to have added 11 banks to its planned software IPO. ( Bloomberg)
Visma has expanded the group of banks involved in its planned initial public offering, a move that underscores what could become one of Europe’s largest listings of the decade. The Norwegian technology company, which had already appointed Goldman Sachs, Morgan Stanley, and UBS as lead advisers, has now selected at least 11 additional banks to participate in the IPO.
The unusually large banking syndicate reflects both the scale and complexity of the proposed transaction, which is expected to raise several billion euros.
Flacks Group set for exclusive talks on ailing Italy steel plant. ( Bloomberg)
Italy’s Ilva steelworks takeover committee has recommended exclusive talks with US private-equity firm Flacks Group, citing its investment plans, job protections and prospects to boost production.
APAC
Blackrock-backed Global Infrastructure Partners, an infrastructure investor, agreed to acquire a 40% stake in Aboitiz InfraCapital, the infrastructure arm, from Aboitiz Equity Ventures, a Philippine holding company, for $233m, according to press releases.
Aboitiz InfraCapital is advised by Morgan Stanley, according to MergerLinks data.
Bharti Enterprises, an Indian multinational conglomerate, and Warburg Pincus, a US private equity firm, agreed to acquire a 49% stake in Haier India, a home appliances company, according to press releases. Financial terms are not disclosed.
Haier is advised by Citigroup, according to press releases.
Amova AM, a Japanese multinational investment company, agreed to acquire an additional 77.7% stake in AHAM Capital, an asset management firm, from CVC, a private equity and investment advisory firm, according to press releases. Financial terms were not disclosed.
Amova is advised by UBS, according to MergerLinks data.
PAG, an Asia-based alternative investment firm, and KKR, a global investment firm, agreed to acquire Sapporo Real Estate from Sapporo, an alcoholic and non-alcoholic beverages producer, according to press releases. Financial terms were not disclosed.
Indorama Investment, a chemicals company, agreed to acquire Anyang Nitrogen Fertilizer, a major fertilizer producer, from PAG, an Asia-focused alternative investment firm, according to press releases. Financial terms were not disclosed.
KKR-backed Kreate, an alternative investment manager, completed the acquisition of Cheongna logistics center, according to press releases. Financial terms were not disclosed.
KKR bid to take Yomeishu private is derailed by top shareholder. ( Bloomberg)
KKR’s effort to take Japanese herbal tonic maker Yomeishu Seizo private has fallen through after the company’s largest shareholder indicated it would not sell its stake.
Yomeishu said it ended exclusive talks with KKR after concluding the proposal was unlikely to succeed due to the stance of shareholder Yuzawa KK. The decision came just hours after the company confirmed it had granted KKR first negotiating rights on a potential buyout.
Blackstone's AirTrunk explores Singapore REIT IPO. ( Bloomberg)
The company has held preliminary discussions with advisers about a possible REIT initial public offering that could raise more than $1bn, with a listing potentially taking place as soon as 2026.
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