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AMERICAS
CD&R-backed Columbus McKinnon, a designer, manufacturer and marketer of intelligent motion solutions for material handling agreed to acquire Kito Crosby, a provider of lifting solutions, from KKR, a global private equity firm, for $2.7bn, according to press releases.
Kito Crosby and KKR are advised by Evercore, Goldman Sachs and Kirkland & Ellis (led by Jennifer Perkins). Columbus McKinnon is advised by JP Morgan, DLA Piper and Hogan Lovells. Debt financing is provided by JP Morgan. CD&R is advised by Guggenheim Partners and Debevoise & Plimpton, according to press releases.
H.I.G. Capital, a global alternative investment firm, agreed to acquire Converge Technology Solutions, a services-led, software-enabled, IT & cloud solutions provider, for $909m, according to press releases.
Converge is advised by Canaccord Genuity, Houlihan Lokey, Origin Merchant Partners and Goodmans. H.I.G. Capital is advised by Stikeman Elliott and Weil Gotshal and Manges, according to press releases.
Blackstone Real Estate completed the acquisition of Retail Opportunity Investments, a fully integrated, self-managed real estate investment trust, for $4bn, according to press releases.
ROIC was advised by JP Morgan (led by Chris Ventresca) and Clifford Chance (led by Chang-Do Gong and John Healy). Blackstone was advised by Bank of America, Citigroup, Eastdil Secured, Morgan Stanley, Newmark Group and Simpson Thacher & Bartlett (led by Brian Stadler and Matthew Rogers), according to press releases and MergerLinks data.
Laboratorios Sanfer, a pharmaceutical company, completed the acquisition of Vitalis, a manufacturer and wholesaler of injectable products used in hospitals, medical institutions and pharmacies, from ACON Investments, a private equity firm, according to press releases. Financial terms were not disclosed.
ACON Investments was advised by Grant Thornton, BTG Pactual, Brigard & Urrutia, Carey Abogados, Galicia Abogados and McCarthy Tetrault, according to press releases.
TE Connectivity, an electrical connectors and sensors producer, agreed to acquire Richards Manufacturing, an electrical and gas distribution equipment producer, from Oaktree, an investment manager, for $2.3bn, according to press releases.
TE Connectivity is advised by Goldman Sachs and Davis Polk & Wardwell. Richards Manufacturing and Oaktree are advised by Lincoln International and Kirkland & Ellis (led by Hamed Meshki), according to press releases.
McNally Capital, a private equity firm, completed the investment in Jewett Automation, a manufacturer of filtration equipment and custom automation solutions, according to press releases. Financial terms were not disclosed.
Jewett Automation was advised by Cascadia Capital and Whiteford, Taylor & Preston. McNally Capital was advised by Hilco Capital and Ropes & Gray, according to press releases.
Wynnchurch Capital-backed Handgards, a distributor of foodservice products, completed the acquisition of Inno-Pak, a provider of food packaging for the foodservice, grocery, convenience store, and hospitality industries, from Emerald Lake Capital Management, a private equity firm, according to press releases. Financial terms were not disclosed.
Wynnchurch Capital was advised by Goldman Sachs and Foley & Lardner. Emerald Lake was advised by Robert W Baird (led by Mike Lindemann), according to press releases and MergerLinks data.
Novartis, a multinational pharmaceutical corporation, agreed to acquire Anthos Therapeutics, a transformative, clinical-stage biopharmaceutical company, from Blackstone Life Sciences, a private investment platform, for $3.1bn, according to press releases.
Anthos is advised by Goldman Sachs, Morgan Stanley and Goodwin Procter, according to press releases.
Solina, a global partner for the food industry, foodservice, QSR, and nutrition sectors, completed the acquisition of Sokol, a formulator and manufacturer of wet-fill, liquid food ingredient products, from Burlington Capital Partners, a private equity firm, according to press releases. Financial terms were not disclosed.
Sokol was advised by Cascadia Capital, Fredrikson & Byron and Koley Jessen, according to press releases.
Nautic Partners, a private equity firm, completed the acquisition of Proud Moments, a provider of applied behavioral analysis therapy to children with autism, from Audax Private Equity, a capital partner for middle market companies, according to press releases. Financial terms were not disclosed.
Audax was advised by Calex Partners, Ropes & Gray (led by Adam Leamon) and FGS Global, according to press releases and MergerLinks data.
The Blackstone Group, a global investment company, agreed to acquire a majority stake in AI Fire, a commercial fire and life safety services provider, from TruArc Partners, a private equity firm, for $1.1bn.
TruArc Partners is advised by Piper Sandler and Weil Gotshal and Manges (led by Emily Willey), according to press releases and MergerLinks data.
Investment firms Bain Capital, Morgan Stanley Private Credit, and Newlight agreed to invest $350m in SelectQuote, a distributor of medicare insurance policies and owner of a healthcare services platform, according to press releases.
SelectQuote is advised by Jefferies & Company and Wachtell Lipton Rosen & Katz (led by Mark F. Veblen and Joshua Feltman) , according to press releases and MergerLinks data.
Gemspring Capital, a middle-market private equity firm, completed the acquisition of Creative Labs, a manufacturer and developer of branded and contract-manufactured haircare and skincare products, according to press releases. Financial terms were not disclosed.
Gemspring was advised by Intrepid Investment Bankers and McDermott Will & Emery, according to press releases.
The Riverside, an investment firm focused on the smaller end of the middle market, completed the investment in Wall Street Prep, a global provider of financial training solutions and certifications, according to press releases. Financial terms were not disclosed.
The Riverside was advised by Harris Williams & Co and Jones Day (led by Lisa Lathrop), according to press releases and MergerLinks data.
New Enterprise Associates, an American-based venture capital firm, led a $200m Series C round in Abcuro, a clinical stage biotechnology company, with participation from Foresite Capital, RA Capital Management, Bain Capital Life Sciences, Redmile Group, Samsara BioCapital, Sanofi Ventures, Pontifax, Mass General Brigham Ventures, New Leaf Ventures, abrdn, BlackRock, Eurofarma and Soleus Capital, according to press releases.
Abcuro was advised by Argot Partners (led by Matthew DeYoung), according to press releases.
J.C. Flowers, a private investment firm, agreed to acquire a majority stake in Infinite Investment Systems, a portfolio management solutions provider to the Canadian wealth management industry, according to press releases. Financial terms were not disclosed.
J.C. Flowers is advised by Lambert & Co (led by Jennifer Hurson) , according to press releases.
Vitruvian Partners, an investment firm, led a $100m round in Klook, a platform for experiences and travel services in Asia, according to press releases.
United Energy, an independent exploration and production company, completed the acquisition of Apex International Energy, an independent oil and gas exploration and production company, from Bluewater, a specialist energy private equity firm, according to press releases. Financial terms were not disclosed.
Veritas Capital in talks to take Dun & Bradstreet private in $5.4bn deal. ( Bloomberg)
Veritas Capital is in discussions to acquire Dun & Bradstreet, a data and analytics provider, in a potential take-private transaction. The private equity firm is engaging with banks to secure financing for the deal.
The Jacksonville, Florida-based company is currently valued at approximately $5.4bn. If completed, the acquisition would mark a significant move in the financial data sector, strengthening Veritas Capital’s portfolio.
Historically, Veritas Capital has worked with Goldman Sachs and Gibson Dunn & Crutcher, according to MergerLinks data.
Rhone, Chatterjee select Goldman Sachs to lead Lummus Technology’s US IPO.( Bloomberg)
Private equity firm Rhone and the Chatterjee Group have appointed a banking team led by Goldman Sachs Group to oversee Lummus Technology’s US initial public offering.
Lummus Technology, which licenses technologies for gas processing, petrochemicals, and other industries, could be valued at over $5bn in the IPO. While plans are in motion, no final decisions have been made regarding the timing of the potential listing.
NielsenIQ aims to raise $1.25bn in US IPO. ( Bloomberg)
NielsenIQ, a consumer intelligence firm backed by private equity firms Advent and KKR, is planning to raise approximately $1.25bn through a US initial public offering as early as this summer.
The company is working with JP Morgan on the potential listing, which could value NIQ at around $10bn, according to previous Bloomberg News reports.
KKR approaches $14bn for buyout fund amid strong investor interest. ( Bloomberg)
KKR is making steady progress toward its $20bn fundraising target for its North America buyout fund, having secured approximately $14bn despite a challenging market for private equity investments.
The New York-based asset manager is preparing for an initial close, which could take place as soon as this month. The fund has already raised more than half of its target, reflecting strong investor confidence.
EMEA
Fortress, an investment management company, completed the acquisition of Loungers, a group that operates café bars, café restaurants, and roadside dining across the United Kingdom, for £354m ($438m), according to press releases.
Banco BPM increased its offer for asset manager Anima, demonstrating its commitment to gaining investor support as it fends off a takeover bid from UniCredit.
Italian bank announced that it had raised its bid from €6.2 ($6.4) to €7 ($7.2) per share. Additionally, Banco BPM secured commitments from Poste Italiane and FSI, which together hold a 21% stake in Anima, complementing the bank’s existing 22% ownership.
Anima is advised by A&O Shearman (led by Emanuele Trucco). Banco BPM is advised by Citigroup, Lazard and Legance (led by Filippo Troisi), according to press releases and MergerLinks data.
Blue Pool Capital, a Hong Kong based investment advisory firm, and Hassana Investment Company, an investment manager, led a $160m Series E round in Tabby, a financial services and shopping app, with participation from STV and Wellington Management, according to press releases.
Tabby was advised by Kekst CNC, according to press releases.
Cain, a privately held investment firm, and Ares Management, an American publicly traded, global alternative asset manager, agreed to invest in Trent Rockets, a cricket team, according to press releases. Financial terms were not disclosed.
Advent, Lone Star among bidders for Reckitt’s homecare assets. ( Bloomberg)
Private equity firms Advent and Lone Star Funds are among those bidding for a portfolio of homecare assets being sold by Reckitt Benckiser Group.
Apollo Global Management is also in the running for the brands. Reckitt is seeking up to £5bn ($6.2bn) for the portfolio, though some bids have come in below that amount.
PAI Partners explores €1.5bn sale of Euro Ethnic Foods. ( Bloomberg)
Private equity firm PAI Partners is considering a potential sale of French grocery retailer Euro Ethnic Foods, which operates the grocery section of Grand Frais stores. The European private equity firm is working with advisers to assess investor interest in the business.
A sale could value EEF at around €1.5bn ($1.6bn), reflecting the company’s strong position in the specialty grocery market.
Historically, PAI Partners has worked with Ernst & Young, Rothschild & Co, Willkie Farr & Gallagher and Linklaters, according to MergerLinks data.
Gerresheimer explores sale to private equity firms. ( Press Release)
Gerresheimer, the German manufacturer of pharmaceutical and cosmetics packaging, is considering a potential sale following interest from private equity firms. The Düsseldorf-based company is working with advisers to assess potential buyers, with Warburg Pincus, EQT, and KKR among those reportedly evaluating the business.
Shares of Gerresheimer surged as much as 15% in German trading on February 7, marking their biggest intraday gain in nearly a year.
Poste Italiane weighs investment in Telecom Italia. ( Reuters)
Poste Italiane is considering a potential investment in Telecom Italia as the former phone monopoly attracts interest from French telecom group Iliad and private equity firm CVC Capital Partners. Both Iliad and CVC have reportedly informed the Italian government of their interest in the company.
Poste, which operates mobile services through Poste Mobile, is also evaluating whether a commercial partnership with Telecom Italia could be strengthened through an equity investment.
Elliott takes stake in struggling oil giant BP. ( WSJ)
Elliott Management, an activist hedge fund, has taken a substantial stake in BP and is pushing for major changes to boost the company's performance.
Elliott is urging BP to adopt a more aggressive approach beyond its current strategy, which has shifted focus from traditional oil and gas to low-carbon energy, in order to enhance the company's profitability.
Global Infrastructure Partners and Stonepeak weigh bids for Princeton Digital Group. ( Bloomberg)
Investment firms including Global Infrastructure Partners and HRL Morrison are considering bids for Princeton Digital Group, a data center operator backed by Warburg Pincus. Stonepeak is also among potential bidders exploring an acquisition.
Princeton Digital is working with financial advisers to evaluate strategic options, including selling either a minority or a controlling stake. The deliberations come as investor interest in digital infrastructure continues to grow.
IVC Evidensia, Europe’s largest veterinary group, is exploring an initial public offering in the UK, potentially marking one of London’s biggest listings in recent years. The company, backed by private equity firms EQT and Silver Lake, as well as Nestlé, was last valued at €12.3bn ($12.75bn) in 2021 and has expanded through acquisitions of veterinary clinics.
The veterinary sector has seen rapid consolidation, driven by increased pet care spending. IVC is evaluating multiple options, including a London Stock Exchange listing or an IPO in another market as soon as next year.
Lone Star-backed Novo Banco announced that Nani, its majority shareholder, has formally indicated its intention to initiate an initial public offering of the bank’s shares. The notification was also communicated to the Portuguese Resolution Fund and the Portuguese State, which hold minority stakes in the bank.
Novo Banco will coordinate with its shareholders to implement the IPO in the coming months. The move aligns with long-term plans to transition the bank to public ownership following its restructuring.
PSG, a growth equity firm that specializes in partnering with software and technology-enabled services companies to capitalize on transformational growth, announced that it has closed two new funds, totaling $8bn in capital commitments.
PSG’s sixth North American flagship fund, PSG VI, closed with $6bn in capital commitments, surpassing its $4.7bn predecessor fund. The fund received commitments from new and existing investors, including state and corporate pensions, sovereign wealth funds and family offices.
EQT introduced EQT Nexus Infrastructure, its latest evergreen strategy. EQT has been expanding in the evergreen space since the launch of its first evergreen strategy for individual and institutional investors in 2023, with this introduction reflecting investors’ growing desire to customize their private markets portfolios.
“Expanding our portfolio of evergreen strategies is a key focus for our firm. As we go on this journey, two trends are emerging,” said Peter Beske Nielsen, EQT Partner.
APAC
The Carlyle Group, an American multinational private equity, alternative asset management, and financial services corporation, completed the investment in Roop Automotives and Highway Industries, two players in manufacturing forged and precision-machined components, steering system assemblies, transmissions and other powertrain applications for electric, hybrid and internal combustion engine powered vehicles, according to press releases. Financial terms were not disclosed.
Roop Automotives was advised by KPMG. Highway Industries was advised by Singhi Advisors. Carlyle was advised by Deloitte, KPMG, Kotak Investment Banking, Trilegal (led by Nishant Parikh) and Adfactors PR, according to press releases and MergerLinks data.
I Squared explores a $2bn acquisition of DigitalBridge’s tower assets in Southeast Asia. ( Bloomberg)
Private equity firm I Squared Capital is considering acquiring a significant portion of DigitalBridge’s tower assets in Southeast Asia, following the collapse of talks to buy the investment company’s Singapore-based unit due to pricing disagreements.
The potential deal includes EdgePoint Infrastructure’s tower assets in the Philippines and Malaysia, valued at up to $2bn. DigitalBridge’s Indonesian tower assets, worth around $1bn, may be sold separately to a local buyer.
Mizuho nears deal for a majority stake in India’s Avendus Capital. ( Bloomberg)
Mizuho Financial Group is close to acquiring a majority stake in Indian investment bank Avendus Capital, as the Japanese lender looks to expand its global footprint. The deal would involve purchasing KKR’s 63% stake, with a potential valuation of Avendus at around $800m.
If completed, the transaction would mark a significant move by Mizuho into India’s growing financial services sector. Discussions remain ongoing, and no final agreement has been reached.
Metro Pacific weighs increasing stake in Philippine hospital chain. ( Bloomberg)
Metro Pacific is considering raising its stake in the largest private hospital operator in the Philippines, as it looks to expand its presence in the country’s growing healthcare sector.
The investment firm aims to increase its holding in Metro Pacific Health beyond its current 20% stake. The remaining 80% is jointly held by private equity firm KKR and Singaporean sovereign wealth fund GIC.
KKR explores potential investment in Nissan after Honda talks collapse. ( Bloomberg)
KKR is considering an equity or debt investment in Nissan Motors, following the breakdown of the Japanese automaker’s merger talks with Honda. The US-based private equity firm is in the early stages of evaluating ways to strengthen Nissan’s financial position.
Discussions remain ongoing, and KKR has yet to make a final decision on whether to proceed with a deal.
PAG, an Asia-Pacific alternative investment firm, closed its SCREP VIII fund at $4bn, including co-investment capital. The fund marks the largest US dollar-denominated real estate fundraising in the Asia-Pacific region over the past 12 months.
SCREP VIII exceeded its $3.5bn target, attracting strong commitments from both repeat and new investors. The fund’s backers primarily include pension funds and sovereign wealth funds from North America, Europe, the Middle East, and Asia-Pacific.
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