AMERICAS
Collegium Pharmaceutical, a pharmaceutical company, completed the acquisition of BioDelivery Sciences International, a pharmaceutical company, for $604m.
“This acquisition is a major step forward in our mission to build a leading, diversified specialty pharmaceutical company committed to improving the lives of people living with serious medical conditions. We have significantly diversified the business and expanded our overall revenue scale. This transaction is immediately and highly accretive, and we are now focused on seamless integration and delivering identified synergies of at least $75m within twelve months," Joe Ciaffoni, Collegium President and CEO.
BioDelivery was advised by Moelis & Co, Goodwin Procter and LifeSci Public Relations. Collegium was advised by Jefferies & Company and Troutman Pepper. Debt financing was provided by Pharmakon Advisors.
Axon Capital Khosla Ventures and Prime Movers Lab led a $170m round in Tarana Wireless, a provider of the wireless alternative, with participation from Michigan State Pension Fund and I Squared Capital.
“The key ingredient driving our rapid expansion is overwhelming customer demand for G1, the world’s most advanced fixed wireless access platform. Like fiber, G1 delivers ultra-fast internet service with impressive upstream and downstream speeds, but with dramatic improvements in both cost and time to deploy. Finally, true high-speed broadband can be delivered to anyone, anywhere - rapidly and economically," Basil Alwan, Tarana CEO.
Tarana was advised by Barclays and Hoffman Agency.
FTX, a cryptocurrency company, completed the acquisition of Good Luck Games, a creator of the auto-battle game Storybook Brawl. Financial terms were not disclosed.
"We couldn't stop playing Storybook Brawl when it became available on Early Access in Steam last summer. Outside of it being an incredibly fun game our whole office enjoys, with its highly engaging gameplay and free-to-play model, we saw an opportunity to be the vanguard for the ethical integration of gaming and crypto transactions in a way that hasn't yet been done in this space," Sam Bankman-Fried, FTX Co-Founder.
Good Luck Games was advised by Michael Meyers PR. FTX was advised by M Group Strategic Communications.
SoftBank Vision Fund 2, a venture capital fund, led a $150m Series D round in RapidAPI, an API Hub, with participation from Qumra, Andreessen Horowitz, M12, Viola Growth, Green Bay, and Grove Ventures.
“Demand for digital solutions and software innovation is increasing rapidly, and without enough developers, the world needs APIs to continue building software. We believe that RapidAPI plays a critical role in supporting the API economy and has demonstrated impressive growth and execution to accelerate developer adoption and supply of APIs. We are excited to partner with Iddo and the team to support their mission to drive modern software development," Nagraj Kashyap, SoftBank Managing Partner.
RapidAPI was advised by Aircover Communications.
The Riverside Company-backed SureWerx, a manufacturer of safety, tool & equipment products, completed the acquisition of Footwear Specialties International, a manufacturer of work boots. Financial terms were not disclosed.
“Adding Avenger Work Boots and Nautilus Safety Footwear to our growing, world-class portfolio of SureWerx brands moves us further toward our goal of becoming the global leader in Safety & Productivity. FSI offers an ever-growing range of high-quality, innovative safety footwear for all professional applications. Whether you work in a warehouse, a manufacturing plant, on a construction site, or in the service and utilities sectors, FSI has a proven, solution-based product that not only protects you from injury but also improves your quality of life," Chris Baby, SureWerx CEO.
The Riverside Company was advised by Jones Day.
Insight Partners, a private equity firm, led a $213m Series C round in Astronomer, with participation from Meritech Capital, Salesforce Ventures, JP Morgan, K5 Global, Sutter Hill Ventures, Venrock and Sierra Ventures.
"As companies of all sizes struggle to make sense of their data, data orchestration has become a competitive necessity. At the same time, data teams must be able to trust their data to effectively extract its value. By integrating Datakin's intuitive data lineage features with Astronomer, our customers are able to build faster, run with confidence and reduce their operational risks. We are excited to soon unveil what's next from our team, fueled by our Series C and the incredible support of our investors," Joe Otto, Astronomer CEO.
Uniform, a digital experience platform, completed the acquisition of Headless Creator, a producer of content that helps people looking to understand headless technology. Financial terms were not disclosed.
"We need to grow and educate the community that will build digital composable experiences. Our partners and customers need more people with this type of training and knowledge. Uniform is committed to invest the funds to accelerate the growth of our team and community. Composable and headless communities need support; this is a great starting point and we intend to resource and scale it," Lars Petersen, Uniform CEO.
Grover Gaming, a developer of software, game content, and gaming systems for lotteries, agreed to acquire NexLevel Gaming, a distributor of electronic instant bingo. Financial terms are not disclosed.
"We are very excited about the NexLevel team joining our Grover Gaming family. We have known the principals and most of the employees for quite some time and are thrilled to bring onboard such experienced sales, marketing, and customer service professionals. We believe that, when licensed, we will have a truly spectacular team to service the charities of Ohio," Garrett Blackwelder, Grover Gaming President.
Elliott and Brookfield weigh increasing offer for Nielsen at a $8.4bn valuation. (FS)
Private equity firms Elliott Management and Brookfield Asset Management weigh a sweetened bid for Nielsen Holdings, an American information, data and market measurement firm, after the company rejected the previous offer, Bloomberg reported.
The bid being discussed would be higher than the last offer of $25.4 per share. Details of the higher offer are not disclosed yet, and talks could still fall apart.
TowerBrook seeks $800m to extend TriMedx ownership. (FS)
TowerBrook Capital Partners, an investment firm, seeks around $800m for a single-asset continuation fund. This step would give the firm more capital and time to support a portfolio company TriMedx Holdings, an independent clinical asset management company.
The TowerBrook fund would be one of the latest such vehicles to be raised in a rapidly expanding secondary segment of private markets, WSJ reported.
IPO winner minted in Brazil as aluminum rally propels CBA.
Cia Brasileira de Aluminio, an aluminium producer in Brazil, emerged as the winner among the dozens of Brazilian companies that rushed to go public last year, bucking a trend of primarily lackluster returns for the country's new issuers, Bloomberg reported.
Shares of CBA are up around 70% this year in local-currency terms, more than five times the gain of the nation's benchmark Ibovespa stock index.
EMEA
The UK government is moving closer to approving the $3.6bn takeover of defense firm Ultra Electronics Holdings by Cobham, more than seven months after ordering a probe into the deal.
Cobham has agreed to a set of improved commitments to gain political backing for the transaction that include granting the UK oversight of contracts, future asset sales and business relationships. It’s also agreed to set up a supervisory board with state representation to oversee specific contracts, Bloomberg reported.
Ultra Electronics is advised by JP Morgan, Numis Securities, Slaughter & May and MHP Communications. Cobham is advised by Credit Suisse, Goldman Sachs, Morgan Stanley, Rothschild & Co, Kirkland & Ellis and Tulchan Communications. Financial advisors are advised by Ashurst. Debt financing was provided by Credit Suisse.
Investment companies Ontario Teachers’ Pension Plan Board and Brookfield completed the acquisition of a 50% stake in Scotia Gas Networks, a British gas distribution company which manages the network that distributes natural and green gas, from Abu Dhabi Investment Authority, a sovereign wealth fund, and SSE, a multinational energy company, for $2.6bn.
"SGN has been a hugely successful investment for SSE and is a strong business, but it had become purely a financial investment for SSE and we wish the team every success in the future. For SSE the sale has sharpened our focus on our low-carbon electricity core, leaving us fully focused on delivering our Net Zero Acceleration Programme," Gregor Alexander, SSE Finance Director.
OTPPB was advised by Evercore, Linklaters, Weil Gotshal and Manges and Kekst CNC. ADIA was advised by Nomura and Freshfields Bruckhaus Deringer. SSE was advised by Credit Suisse, Morgan Stanley and CMS.
Kiloutou, an equipment rental company, agreed to acquire GSV Materieludlejning, an equipment rental company, from CataCap Management, a private equity firm. Financial terms were not disclosed.
“We have had an excellent cooperation with CataCap, an engaged owner who has helped us significantly grow our company. This goes for our organisation, our digitalisation process and, not least, our investments in the green transition. This has all contributed to a best in class employee and customer satisfaction. Today we have the strength to pursue our ambition of continued growth,” Dan Vorsholt, GSV Materieludlejning CEO.
Kiloutou is advised by BNP Paribas, Credit Agricole, Natixis Partners and Societe Generale. CataCap is advised by Carnegie Investment Bank, Ernst & Young, KPMG and Bruun & Hjejle.
Spolargruppen Sverige, a waste disposal company, agreed to go public via a SPAC merger with tbd30, a special purposes acquisition company, for $85m.
“Together with the Board, I am proud to present this acquisition for tbd30's continued development as an active owner company of exciting and developable business service companies. Since the successful listing in June 2021, both the Board and management have worked intensively to identify and evaluate potential target companies, where the now proposed Acquisition has crystallized as the most interesting investment alternative for our shareholders. We have great ambitions as active owners to be able to further develop SPG together with its experienced and competent board and management, and thereby create returns for our investors and shareholders," Anders Lönnqvist, tbd30 CEO.
tbd30 is advised by Cupole Consulting, Carnegie Investment Bank, PricewaterhouseCoopers, Afirm Advokat and Wigge & Partners. Capillar Equity is advised by DNB Bank and Vinge.
Summa Equity, a private equity firm, completed an investment in TBAuctions, a digital auction house. Financial terms were not disclosed.
“The online auction market in Europe will show strong growth figures, and with our lead in technology we will play a prominent role in it. TBAuctions was recently acquired by funds managed by Castik Capital and is now further provided financially and strategically by shareholder Summa Equity. With these forces, we are accelerating our ambition to be the leading European online auction platform for second-hand and second chance goods," Herberth Samsom, TBAuctions CEO.
Summa Equity was advised by Boston Consulting Group, Frank Partners, Arma Partners, Wikborg Rein and PricewaterhouseCoopers.
Investor consortium including Hafslund Eco, Infranode, and HitecVision to acquire Fortum Oslo Varme, the Oslo district heating unit of Fortum, an electric power generation company, and the City of Oslo, for $2.3bn.
Following the transaction, Hafslund Eco will become the majority owner with 60% ownership in Fortum Oslo Varme, while Infranode and HitecVision will have significant minority position of 20% each.
"Through the agreement, we increase our annual energy production by almost 2 TWh and ensure ownership of critical infrastructure that provides essential services for Oslo's inhabitants. District heating has operational and ownership synergies with hydropower and operates in the same power market. As an owner, Hafslund Eco has a lot of expertise to contribute with in that area," Martin S. Lundby, Hafslund Eco Deputy CEO and Executive Vice President.
Hafslund Eco is advised by DC Advisory.
UAE-Egypt deal to include stakes in Fertilizer firms. (FS)
ADQ, an Abu Dhabi wealth fund, is buying stakes in Egyptian fertilizer and cargo companies Abou Kir Fertilizers & Chemical Industries, Misr Fertilizers Production and Alexandria Container & Cargo Handling as part of a roughly $2bn investment in the country, Bloomberg reported.
ADQ is also buying stakes in Fawry Banking & Payment Technology Services, a digital transformation & E-payment platform, and Commercial International Bank Egypt, a private sector bank in Egypt.
Ardian weighs sale of Dedalus for $3.3bn. (FS)
Ardian, a France-based, independent private equity investment company, considers options for Dedalus, a healthcare software, including a sale, Bloomberg reported.
The firm is working with financial advisers as it explores options to exit its controlling stake in Dedalus. Dedalus could be valued at $3.3bn.
PAI weighs the sale of M Group for $2bn. (FS)
PAI Partners, a French private equity firm, explores a potential sale of M Group, a services firm, which could be valued at about $2bn, Bloomberg reported.
The firm is working with Citigroup, an American multinational investment bank and financial services corporation, evaluating options including an exit of M Group.
Lavin Group to list in US via a merger with Primavera-backed SPAC. (FS)
Fosun International-backed Lanvin Group, a French multinational high fashion house, plans to list on the NYSE by merging with a Primavera Capital-backed SPAC, valuing the fashion group pro forma enterprise value of $1.5bn, with a combined pro forma equity value of up to $1.9bn.
"We are excited to partner with Primavera for our next chapter of growth across Europe, North America and Asia. In recent years, we have not only invested in prestigious heritage brands but have also created a strategic alliance of industry-leading companies as partners and co-investors in Lanvin Group," Joann Cheng, Lanvin Group Chairman and CEO.
CVC Capital running its eye over reorganisation at TIM. (FS)
CVC Capital Partners, a private equity firm, has been looking at the reorganisation under way at Telecom Italia, an Italian telecommunications company, Reuters reported.
CVC has been analysing for some time a possible scenario of industrial reorganisation at TIM to identify solutions to help the relaunch of the group, but no decision has been taken yet.
APAC
IHH Healthcare, a private healthcare group focused on upmarket health services, agreed to acquire Ramsay Sime Darby Health Care, a private healthcare group, for $1.35bn.
Ramsay Sime Darby Health Care is a joint venture between Ramsay Health Care, one of the world’s largest hospital operators, and Sime Darby, one of Asia’s largest conglomerates.
AppWorks targets $360m for Fund IV. (FS)
AppWorks, a venture capital firm, plans to start raising a $360m AppWorks Fund IV in Q2, 2022.
AppWorks has established dedicated units to focus on its accelerator and Web 3.0 practices, in addition to promotions of several team members to lead the development of these new programmes, DealStreetAsia reported.
Oxyzo turns unicorn following $200m fundraise.
Oxyzo Financial, the lending arm of OfBusiness, an industrial goods and services procurement platform,, entered the unicorn club after raising $200m in a Series A funding round.
"With the emergence of the digital economy, we see a marked shift in the emerging needs and servicing approach in the B2B segment. We want to be at the forefront of this as a diversified financial services company, differentiated through its innovative financial products and digital platforms on the back of strong credit and origination capabilities. We are very excited about our next phase of growth as we further embed ourselves digitally into the SME, mid-corporate and the new age supply chains," Ruchi Kalra, Oxyzo Co-Founder and CEO.
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