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AMERICAS
Vital Energy, an American company engaged in hydrocarbon exploration, and Northern Oil and Gas, a real asset company that focuses on acquiring and investing in non-operated minority working and mineral interests in the hydrocarbon producing basins, completed the acquisition of the shale assets from Point Energy Partners, a company focused on acquiring and developing onshore US properties in basins with stacked multiple oil and gas reservoirs, for $1.1bn.
"This bolt-on is a great fit for us, adding high-value inventory and production in the heart of our core operating areas. Furthermore, it expands our growing Delaware Basin position and balances our Permian operations. We expect to continue to demonstrate our ability to capture, integrate and create substantial value on acquired assets through optimised development plans, lower capital costs and proven operating practices, resulting in higher future cash flows,” Jason Pigott, Vital Energy President and CEO.
Vital Energy was advised by Citigroup, Houlihan Lokey, Wells Fargo Securities, Gibson Dunn & Crutcher (led by Rahul D. Vashi) and DrivePath. Northern Oil and Gas was advised by Kirkland & Ellis (led by David Castro Jr. and Will Eiland). Point Energy was advised by Jefferies & Company and Akin Gump Strauss Hauer & Feld (led by Cole Bredthauer and Wesley Williams).
FTV Capital-backed ZEMA Global Data, a provider of enterprise data management and analytics for the commodity and energy sectors, agreed to acquire Morningstar Commodity Data, a provider of commodities and energy data and insights. Financial terms were not disclosed.
“This transformative acquisition marks a significant milestone in our evolution as we look to add complementary capabilities to meet the growing demand for increasingly complex data and analytics accelerated by the global energy transition,” Andrea Stone, ZEMA Global Data CEO.
FTV Capital is advised by KPMG, D. A. Davidson, Oliver Wyman, Kirkland & Ellis and Prosek Partners (led by Alexa Ottenstein).
Uranium Energy, a growing supplier of fuel for the green energy transition to a low carbon future, agreed to acquire Wyoming uranium assets of Rio Tinto, a British-Australian multinational company, for $175m.
"Expanding our production capabilities with the acquisition of highly sought after and fully licensed uranium assets in the US is an important and timely milestone, especially in Wyoming, where we have recently restarted ISR production," Amir Adnani, Uranium Energy President and CEO.
Uranium Energy is advised by Goldman Sachs, Rothschild & Co, Holland & Hart and McMillan.
Empower, a provider of retirement and wealth management services, completed the acquisition of OptionTrax, a digital equity plan administration platform and service provider. Financial terms were not disclosed.
“Empower is acquiring OptionTrax to take the next step forward in the evolution of an integrated digital compensation solution for employers who want to make equity a key element of how they reward their associates,” Edmund F. Murphy III, Empower President and CEO.
OptionTrax was advised by Troutman Pepper. Empower was advised by Eversheds Sutherland.
Arcline Investment Management-backed American Holt, a technology-enabled provider of aftermarket replacement parts for production and processing machinery, completed the acquisition of Servi-Tech, engineer-driven organization that designs and manufactures high-performance aftermarket replacement parts for production machinery in the beverage packaging sector. Financial terms were not disclosed.
"Jeff and the Servi-Tech team have built a reputation for offering customers high-ROI alternatives to traditional original equipment manufacturer (OEM) parts - often with better performance and quality," Cliff Gilbert, American Holt CEO.
Telix, a biopharmaceutical company focused on the development and commercialisation of therapeutic and diagnostic radiopharmaceuticals and associated medical devices, agreed to acquire RLS Radiopharmacies, a radiopharmacy network, for $250m.
"Our vision is to build a radiometal production and distribution network fit for the future. By combining the ARTMS platform and the RLS network, we can scale up the production of key isotopes and build a stable and consistent supply of PET and SPECT diagnostic tracers, along with therapeutic radiopharmaceuticals across the US for the benefit of Telix, our partners and the patients we serve," Christian Behrenbruch, Telix Managing Director and Group CEO.
Vitalograph, a manufacturer and supplier of spirometers and respiratory medical devices, completed the acquisition of Morgan Scientific, a pulmonary function hardware manufacturer. Financial terms were not disclosed.
"We have a long and successful relationship with Morgan Scientific. This agreement is the natural progression for both companies as our combined expertise allows us to focus on delivering the best possible diagnostic solutions that can enable a better understanding of lung health," Frank Keane, Vitalograph CEO.
Vitalograph was advised by Gore Communications (led by Edwina Gore).
Vista Equity Partners, a global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, completed an investment in Gnosis Freight, a provider of supply chain visibility and execution software designed to manage the full lifecycle of the shipping container. Financial terms were not disclosed.
"We’ve added significant new product capabilities and welcomed a record number of new customers to Gnosis this year – but I believe we are just getting started. From the very beginning, we have focused on our customers' needs and successes as our north star. We are grateful for their support and encouragement, which reinforced our belief in the impact we can create. We feel confident our platform is precisely what our industry has been asking for, and we are eager to get it in the hands of more customers," Austin McCombs, Gnosis Freight CEO & Co-Founder.
3B Scientific, a provider of medical and scientific educational products, completed the acquisition of Veterinary Simulator Industries, a developer of veterinary simulation models. Financial terms were not disclosed.
"Veterinary Simulator Industries is widely recognized for its outstanding veterinary training solutions, which perfectly complement our extensive range of educational tools. We are thrilled to welcome VSI into the 3B Scientific family. By combining our strengths in product development, manufacturing, and global distribution, we aim to set new standards in veterinary education, offering unparalleled resources to training institutions and professionals worldwide," Todd Murray, 3B Scientific CEO.
Fastbreak.ai, a provider of AI-driven sports scheduling technology, completed the acquisition of Tourney Pro, a premier provider of tournament management solutions for youth sports. Financial terms were not disclosed.
"Entering the youth sports marketplace is a transformative step for Fastbreak.ai. With the market projected to nearly double in size by 2030, this sector represents a tremendous growth opportunity. Youth sports leagues face many of the same scheduling challenges as professional leagues, including travel logistics, venue management, and competitive balance. By combining Fastbreak.ai's AI-powered scheduling platform with Tourney Pro's deep expertise in the tournament management business, we are perfectly positioned to bring unparalleled capabilities and immediately become the market leader in the youth tournament management space," John Stewart, Fastbreak.ai CEO.
Tempur Sealy to divest more than 100 stores in bid to close $4bn Mattress Firm deal.
Tempur Sealy's merger with Mattress Firm, which would create a combined empire of about 3k stores globally, raised concerns about price hikes and job losses and led the US Federal Trade Commission to sue in July to block the merger.
Apollo looking to invest in Intel. (FS)
Global investment manager Apollo Global Management has reportedly offered to make a multibillion-dollar investment in Intel, in a move that would be a vote of confidence in the chipmaker's turnaround strategy, Bloomberg reported.
The alternative asset manager has indicated in recent days it would be willing to make an equity-like investment of as much as $5bn in Intel, an American multinational corporation and technology company.
Qualcomm's potential Intel buyout could raise antitrust, foundry concerns.
A potential deal to buy Intel could accelerate Qualcomm's diversification but will burden the smartphone chipmaker with a loss-making semiconductor manufacturing unit that it may struggle to turn around or sell, Reuters reported.
A buyout will also face tough antitrust scrutiny globally as it would unite two crucial chip firms in what would be the sector's biggest ever deal, creating a behemoth with a strong share of the smartphone, personal computer and server markets.
Carlyle-backed StandardAero IPO seeks to raise $1.1bn. (FS)
StandardAero is seeking to raise $1.1bn in its initial public offering, after its backer Carlyle Group had decided to pursue a listing for the aircraft maintenance services provider rather than a sale, Bloomberg reported.
The company is offering 46.5m shares. The shares are being marketed for $20 to $23 each. There is a potential over-allotment of 6.975m shares from affiliates of Carlyle and Singaporean sovereign wealth investor GIC.
KKR raises $4.6bn for debut North America mid-market deals fund. (FS)
KKR has raised $4.6bn for its debut fund focused on mid-sized deals in North America despite a difficult fundraising environment as high interest rates dampened investors' appetite for debt-driven buyouts, Reuters reported.
New York-based KKR, which had $601bn in assets under management as of the end of June, has been attempting to raise capital at a difficult time for fundraising for large buyout firms.
Brookfield raises $2.4bn in initial close for UAE-backed climate fund. (FS)
Brookfield Asset Management has raised $2.4bn for the Catalytic Transition Fund (CTF), which is backed by the United Arab Emirates and aims to scale up climate finance in emerging markets, DSA reported.
CTF was launched at the COP28 climate talks in Dubai last December and was anchored by a $1bn commitment from ALTERRA, a $30bn UAE-based climate fund.
EMEA
BNP Paribas, a French international banking group, agreed to acquire the Germany-based private banking unit from HSBC, a British universal bank and financial services group. Financial terms were not disclosed.
“This acquisition is a new crucial step in positioning BNP Paribas Wealth Management among the leading players in Germany, where we believe our model is best suited to serve the long-term needs of entrepreneurial clients, leveraging on the strong franchises of the Group to both address their personal and corporate needs. It will therefore contribute to consolidate our position as the first Wealth Management player in the Eurozone,” Vincent Lecomte, BNP Paribas CEO.
UniCredit defies Germany using derivatives to get 21% Commerzbank stake.
Italy's UniCredit defied Germany's defence of Commerzbank by using derivative contracts to raise its potential stake in the German bank close to 21%, while waiting for regulatory approval to go above 9.9%.
UniCredit CEO Andrea Orcel's bold attempt to build Europe's biggest bank has become a test of the bloc's resolve to overcome national borders to retain global relevance, Reuters reported.
Commerzbank, UniCredit shares fall as Germany plans to keep 12% stake.
Shares of Commerzbank and UniCredit fell on Monday after the German government said that it would retain its 12% stake in the German bank for now in a move that will likely keep any merger with the Italian lender on hold, Reuters reported.
Germany's Finance Agency said the state will not sell any more shares in Commerzbank for the time being and the bank's strategy is "geared towards independence", in the clearest sign that the government does not favour a takeover of the country's second-biggest lender.
EQT Partners plans to sell stake in IFS. (FS)
Swedish private equity group EQT Partners plans to sell a minority stake in the €15bn ($16.75bn) valued software group IFS, as buyout investors search for creative ways to return cash to their backers, FT reported.
Founded in 1983, IFS was delisted by EQT, one of the world's largest buyout groups, from the Stockholm stock exchange in 2016. Since then, it has grown by providing software to large businesses including via acquisitions.
Petrus Pushes for talks on Immofinanz’s ‘strategic alternatives’.
Petrus Advisers, an activist investor that built up a stake in Austrian landlord Immofinanz, is pushing to hold talks about “strategic alternatives” for the company with its main shareholder, Bloomberg reported.
Petrus founder Klaus Umek, said negotiations should begin with CPI Property Group. Potential options may include a spin-off, asset sales or reorganization. The stock, which currently trades at €22.25 ($24.84), may be worth as much as €31 ($34.60) by next year.
Everton FC close to takeover from AS Roma owner Friedkin.
US billionaire Dan Friedkin is closing in on a takeover of Everton FC, the Premier League team that has been struggling to find a buyer, Bloomberg reported.
Friedkin and Everton owner Farhad Moshiri are in advanced stages to strike a deal, which would bring an end to months of uncertainty at the Liverpool-based football team.
Springer Nature targets €4.7bn valuation in Frankfurt IPO. (FS)
Springer Nature, the private equity-backed academic publisher, is aiming for a valuation as high as €4.7bn ($5.2bn) in its initial public offering, Bloomberg reported.
The company and its backer, BC Partners, are offering up to 23.8m shares at a price range of €21.00 ($23.44) to €23.50 ($26.23). The deal could raise as much as €536m ($598), including €200m ($223) in new equity.
APAC
Affinity Equity Partners, one of the largest dedicated Asian private equity firms, agreed to acquire Lumus Imaging, a diagnostic services provider, from Healius, a healthcare company, for AUD965m ($657m).
"Lumus Imaging is an exceptional business which aligns to Affinity's commitment of investing in high-quality companies that have significant growth potential. "Healthcare is a key investment area for Affinity, and we aim to support companies with the resources they need to expand, serve more patients and deliver improved services to all stakeholders –including Lumus Imaging's referrers and hospital clients," Mark Chudek, Affinity Equity Partners Managing Director.
Healius is advised by UBS and Herbert Smith Freehills.
MINISO, a global value retailer offering a variety of trendy lifestyle products featuring IP design, agreed to acquire a 29.4% stake in Yonghui Superstores, a retail chain operator in China, from DFI Retail, a pan-Asian retailer, for CNY.3bn ($890m).
"I firmly believe that this transaction presents great growth potential for our company and will bring long-term value to our shareholders. With our support and leveraging our expertise in design-led products, Yonghui will be poised to develop higher-quality self-branded products to cater to evolving consumer needs. Furthermore, I believe that our collaboration with Yonghui in retail channel upgrade and supply chain will enable us to share resources to further enhance economies of scale, optimize the cost structure and create value for consumers. This transaction will also expand our access to the essential goods sector, allowing us to diversify our business and mitigate cyclical risks," Guofu Ye, MINISO Chairman and CEO.
Taiwanese e-scooter giant Gogoro faces subsidy fraud allegations.
Taiwan's Gogoro, an electric scooter and energy-swapping giant backed by conglomerate Ruentex Group, is embroiled in an alleged subsidy fraud for using mainland China-made components instead of locally-produced parts in some of its products, DSA reported.
CEO and chairman Horace Luke has stepped down amid subsidy fraud allegations.
China Resources Beverage set to launch up to $1bn Hong Kong IPO next month.
Drinks maker China Resources Beverage is aiming to launch its Hong Kong initial public offering to raise up to $1bn in October, in a deal that could be the largest new share offering in the city this year.
The company, which owns the C’estbon branded purified drinking products in China, is aiming to have the deal completed before the US election in November, DSA reported.
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