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AMERICAS

Parkland shareholders vote for $9.1bn acquisition by Sunoco. (Press Release)

Parkland shareholders have overwhelmingly supported the company's acquisition by US-based Sunoco in a deal valued at $9.1bn.

Approximately 93.46% of the votes favored the transaction, which will position the merged entity as the largest independent fuel distributor in the United States.

Parkland is advised by BMO Capital Markets, Bank of America (led by Marc Daniels and Alex Kroner), Goldman Sachs (led by Michael Klym), Norton Rose Fulbright (led by Kirk A. Litvenenko) and Torys (led by John Emanoilidis). Financial advisors are advised by Sullivan & Cromwell (led by Stephen M. Kotran and Matthew Goodman). Sunoco is advised by Barclays (led by Andrew Steinau and Steve Donelle), RBC Capital Markets, Stikeman Elliott (led by John Ciardullo and John Laffin), Vinson & Elkins (led by E. Ramey Layne) and Weil Gotshal and Manges (led by Michael J. Aiello). Debt financing is provided by Barclays and RBC Capital Markets, according to press releases and MergerLinks data.

Court Square Capital Partners completes the acquisition of majority stake in DCCM from White Wolf Capital.

Court Square Capital Partners, a private equity firm, completed the acquisition of majority stake in DCCM, a provider of design, consulting, and construction management services, from White Wolf Capital, a private investment firm, according to press releases. Financial terms were not disclosed.

Court Square Capital Partners was advised by Houlihan Lokey, Dechert (led by Gregory A. Schernecke) and Edelman Smithfield. DCCM and White Wolf Capital were advised by Harris Williams & Co. DCCM was advised by AEC Advisors, according to press releases and MergerLinks data.

Glacier Bancorp to acquire Guaranty Bancshares for $476.2m.

Glacier Bancorp, a bank holding company, agreed to acquire Guaranty Bancshares, a Texas-based commercial bank, for $476.2m, according to press releases.

Glacier Bancorp is advised by Stephens and Miller Nash Graham & Dunn. Guaranty Bancshares is advised by Keefe Bruyette & Woods and Norton Rose Fulbright, according to press releases.

World Insurance Associates completes the acquisition of Healey & Associates.

World Insurance Associates, an insurance agency, completed the acquisition of Healey & Associates, a financial services organization providing employee benefits solutions, according to press releases. Financial terms were not disclosed.

Healey & Associates was advised by MidCap Advisors and Satin and Lee. World Insurance Associates was advised by Giordano Halleran & Ciesla and MidCap Advisors, according to press releases.

Breakwall Equity completes the investment in Haystack.

Breakwall Equity, a private equity firm, completed the investment in Haystack, a human resources software platform, according to press releases. Finaicial terms were not disclosed.

Haystack was advised by Software Equity Group. Breakwall Equity was advised by Exbo Group, Goodwin Procter, and Kickdrum Technology, according to press releases.

Community Bank to acquire seven branch locations from Santander.

Community Bank, an American commercial bank and a Community Financial System's subsidiary, agreed to acquire seven branch locations located in Allentown from Santander, a Spanish multinational commercial bank and financial services company, according to press releases. Financial terms were not disclosed.

Community Financial System is advised by Lazard, Luse Gorman and Ambassador Financial Group, according to press releases.

Xero to acquire Melio for AUD4.6bn.

Xero, a technology company that offers a cloud-based accounting software platform for small and medium-sized businesses, agreed to acquire Melio, a company that provides online payment solutions for small businesses, for AUD4.6bn ($3bn), according to press releases.

Xero is advised by JP Morgan and Peppercomm, according to press releases and MergerLinks data.

GTCR-backed Foundation Source completes the acquisition of Pacific Foundation Services.

GTCR-backed Foundation Source, a provider of philanthropic solutions, completed the acquisition of Pacific Foundation Services, a foundation management organization, according to press releases. Financial terms were not disclosed.

Pacific Foundation Services was advised by Colchester Partners. Foundation Source was advised by The Neibart Group (led by Carly Taylor), according to press releases.

HIG Capital-backed CHA completes the acquisition of FALCON.

HIG Capital-backed CHA, an international engineering consulting firm, completed the acquisition of FALCON Engineering Services, a civil engineering and construction management firm, according to press releases. Financial terms were not disclosed.

FALCON was advised by Marshall & Stevens Transaction Advisory Services. CHA was advised by Morrissey Goodale, according to press releases.

Ideagen completes the acquisition of ConvergePoint.

Ideagen, a governance, risk, and compliance software provider, completed the acquisition of ConvergePoint, a provider of regulatory compliance management solutions, according to press releases. Financial terms were not disclosed.

ConvergePoint was advised by KPMG, according to press releases.

Diatonic Healthcare-backed Nexus IT completes the acquisition of BluePeak Technology.

Diatonic Healthcare-backed Nexus IT, an IT support and managed IT services company, completed the acquisition of BluePeak Technology, a provider of information technology solutions and services, according to press releases. Financial terms were not disclosed.

TPG and Aquarian lead final bids for Brighthouse Financial. (Reuters)

TPG and Aquarian have emerged as the final bidders for Brighthouse Financial, a prominent US life insurer seen as a strategic asset for firms expanding into private credit. Both firms reportedly submitted bids earlier this month at a modest premium to Brighthouse’s current market valuation, signaling competitive interest in insurance-linked investment platforms.

Aquarian is backed by Abu Dhabi’s Mubadala Capital, while TPG brings extensive private equity experience in financial services. The sale of Brighthouse could provide the winning bidder with access to long-duration liabilities suitable for credit deployment and structured investment strategies.

Ambarella explores sale amid buyer outreach, valued at $2.6bn. (CNBC)

Chip designer Ambarella is exploring strategic alternatives including a potential sale. The company has engaged bankers and begun outreach to potential buyers, triggering a 21% surge in its stock price and lifting its market valuation to approximately $2.6bn.

Ambarella specializes in AI-powered semiconductor solutions used in video compression, automotive vision systems, and security applications. A sale would reflect the continued consolidation trend in the semiconductor space, especially as demand grows for intelligent edge computing.

ESPN acquires stake in Premier Lacrosse League, extends media rights deal. (Bloomberg)

ESPN has taken a minority equity stake in the Premier Lacrosse League as part of a strategic five-year deal that extends its media rights arrangement with the league. The move reflects ESPN’s evolving strategy in the streaming era, blending content ownership with rights distribution to strengthen engagement and platform control.

In addition to the stake in the men’s PLL, the deal also includes ownership in the newly launched Women’s Lacrosse League, indicating a broader expansion into professional lacrosse content. The financial terms of the agreement were not disclosed by either party.

EMEA

Woody Johnson to acquire a 43% stake in Crystal Palace from Eagle Football Group for £190m.

Woody Johnson agreed to acquire a 43% stake in Crystal Palace, a football club, from Eagle Football Group, a family of global football organizations with top-tier clubs based in London, Lyon, Brussels and Rio De Janeiro, for £190m ($255m), according to press releases.

Eagle Football Group is advised by Morrison & Foerster (led by Gary Brown), according to press releases and MergerLinks data.

Snyk completes the acquisition of Invariant Labs.

Snyk, a developer of security analysis tools used to identify open-source vulnerabilities, completed the acquisition of Invariant Labs, an AI security research firm, according to press releases. Financial terms were not disclosed.

Snyk was advised by Highwire PR, according to press releases.

Best Buy sells off Current Health, originally acquired for $400m in 2021. (Bloomberg)

Best Buy has divested Current Health, the at-home care tech firm it acquired for $400m in 2021, as it reshapes its healthcare strategy. The move reflects a shift in focus within Best Buy Health, which continues to operate other units such as Lively and PERS+, more closely aligned with its current direction.

Current Health was part of an earlier consolidation push by Best Buy to grow a home-care technology platform. The decision to sell follows a broader reassessment of asset performance and long-term fit within the company’s healthcare portfolio.

Monte dei Paschi receives ECB approval to acquire Mediobanca. (Reuters)

Monte dei Paschi di Siena has received regulatory clearance from the European Central Bank to proceed with its proposed acquisition of Mediobanca, including scenarios where it would acquire a stake of less than 50%.

The offer is expected to be formally launched next month when Monte dei Paschi will invite Mediobanca shareholders to tender their shares. The acquisition would consolidate two of Italy’s major banking institutions, though final terms remain subject to shareholder participation.

QIA and Fiera Capital launched a $200m Qatar-focused equity strategy. (AGBI)

Qatar Investment Authority and Fiera Capital have jointly launched the Fiera Qatar Equity Strategy, an actively managed fund with $200m in assets under management. The vehicle is structured as a daily-dealing mutual strategy targeting both international and domestic institutional investors seeking exposure to the Qatari equities market.

The strategy aims to outperform local benchmarks by focusing on stocks listed on the Qatar Stock Exchange and delivering superior risk-adjusted returns. The move aligns with QIA’s ambition to promote its domestic capital markets while enhancing access for global investors. Fiera Capital will serve as the investment manager.

APAC

KRAFTON to acquire ADK for $517m.

KRAFTON, a South Korean video game developer, agreed to acquire ADK, a Japanese advertising and animation agency, for $517m, according to press releases.

Mubadala and T&D named cornerstone investors in FWD’s Hong Kong IPO. (Bloomberg)

Mubadala Capital and T&D have been identified as cornerstone investors in the planned Hong Kong IPO of FWD Group, the insurer controlled by billionaire Richard Li. Investor interest has already been strong enough to nearly double-book the offering ahead of its formal launch.

The IPO could value FWD at around $6bn. While exact terms have not yet been finalized, the backing from high-profile institutional investors suggests robust early support. Mubadala’s participation underscores the continued sovereign interest in Asian insurance assets, while T&D's involvement reflects Japan’s outbound capital strategy in regional financial services.

China's Anjoy Foods plans to raise up to $336.3m in HKEX listing. (DealStreetAsia)

China’s Anjoy Foods Group is seeking to raise up to HKD2.64bn ($336.3m) through a listing on the Hong Kong Stock Exchange. The company will offer approximately 40m H-shares, each priced up to HKD66 ($8.50), and the final pricing is yet to be confirmed.

This IPO comes amid growing interest from mainland Chinese companies to pursue secondary listings in Hong Kong. The listing will provide Anjoy, a leading frozen food manufacturer in China, with capital for international expansion, including in Southeast Asia and the Middle East. HKEX has also announced initiatives to court listings from those regions.

WuXi-backed MegaRobo plans $300m+ Hong Kong IPO amid biotech momentum. (Bloomberg)

MegaRobo Technologies, backed by WuXi AppTec, is preparing for a Hong Kong IPO that could raise at least $300m. The robotics and AI firm, which focuses on automating life-sciences research, aims to take advantage of favorable biotech market sentiment in Asia.

The listing could occur as early as this year, with MegaRobo currently working with financial advisers to finalize the terms. The IPO is expected to provide capital for further product development and geographic expansion, aligning with broader investment trends in intelligent lab automation.

PAG raises $432m in first close of debut yuan buyout fund. (DealStreetAsia)

Asia-focused private equity firm PAG has raised CNH3.1bn ($432m) in the first close of its inaugural yuan-denominated buyout fund, surpassing its initial target. The fund is intended to strengthen PAG’s investment footprint in China, where it sees continued opportunities despite broader market caution.

The raise comes amid a challenging environment for private equity in China, with deal activity under pressure from macroeconomic uncertainties and geopolitical tensions. Still, PAG's success in securing domestic capital suggests a strong local investor appetite for RMB-focused strategies.

India's Amicus Capital closes second PE fund at $214m. (DealStreetAsia)

Amicus Capital Partners has closed its second private equity fund at $214m, surpassing its $200m target. The oversubscribed fund reflects strong investor confidence in the firm’s strategy of backing mid-market, category-defining entrepreneurs in India. Investors included a mix of global institutions and family offices.

The fund will continue Amicus Capital’s sector-agnostic approach with a focus on businesses poised for long-term growth and scalable impact. It will deploy capital across consumer, healthcare, financial services, and technology-enabled businesses, consistent with the firm’s past practices.

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