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Top Highlights
Werner, an American transportation and logistics company, completed the acquisition of FirstFleet, a trucking company, for $245m, according to press releases.
Werner was advised by TD Securities, Wells Fargo Securities, Wofford Advisors and Koley Jessen. FirstFleet was advised by Brentwood Capital Markets, Raymond James and Scudder Law Firm, according to press releases.
WTW, a global advisory, broking and solutions company, completed the acquisition of Newfront, a benefits broker specializing in risk management, for $1.3bn, according to press releases.
British Land, a property development and investment company, agreed to acquire Life Science REIT, an externally managed UK REIT, in a £150m deal, according to press releases.
Life Science REIT is advised by Panmure Liberum and Gowling WLG. British Land is advised by UBS (led by Fergus Horrobin), Herbert Smith Freehills Kramer and FGS Global (led by Oliver Sherwood), according to press releases and MergerLinks data.
Deal Round up
AMERICAS
C3 AI is in talks to merge with software company Automation Anywhere. ( Reuters)
StandardAero backers said to seek $1.6bn in share sale. ( Bloomberg)
EMEA
Surteco is said to weigh the sale of skirtings and profile businesses. ( Bloomberg)
Air Baltic begins to explore a stake sale as IPO efforts stall. ( Bloomberg)
APAC
Taiwan to merge four state asset managers into $12bn firm. (Bloomberg)
Cricket team Rajasthan Royals gets $1.3bn offer in test for IPL valuations. ( Bloomberg)
Chevron seeks better terms from Iraq before taking over the Lukoil oilfield. ( Reuters)
Thailand's CP Group and Fidelity International plan to invest in Muyuan's Hong Kong listing. ( Bloomberg)
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COMPANIES
INVESTORS
FINANCIAL ADVISORS
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Read on...
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AMERICAS
Rayonier and PotlatchDeltic announced that their respective stockholders approved all the proposals necessary to close their previously announced merger.
Resonetics, a provider of advanced engineering and manufacturing solutions, agreed to acquire Resolution Medical, an engineering services and outsourced manufacturing partner, from Arcline Investment Management, a private equity firm, according to press releases. Financial terms were not disclosed.
Resolution Medical is advised by Piper Sandler, Bass Berry & Sims and Fredrikson & Byron. Arcline is advised by Joele Frank (led by Tim Ragones), according to press releases and MergerLinks data.
Prosperity Bancshares, a regional financial holding company, agreed to acquire Stellar Bank, a provider of banking, savings, online banking, loans, and treasury services, for $2bn, according to press releases.
Stellar is advised by Stifel, Keefe Bruyette & Woods and Norton Rose Fulbright. Prosperity Bancshares is advised by Wachtell Lipton Rosen & Katz (led by Edward D. Herlihy and Matthew T. Carpenter), according to press releases and MergerLinks data.
AEA Investors, a private investment firm, completed the acquisition of a minority stake in 829 Studios, an integrated, technology-enabled digital marketing firm, from CIVC Partners, a private equity firm, according to press releases. Financial terms were not disclosed.
CIVC Partners and 829 Studios were advised by Canaccord Genuity and Ropes & Gray. AEA Investors was advised by Joele Frank (led by Kate Thompson), according to press releases.
Digi International, a global provider of business and mission-critical Internet of Things products, services, and solutions, completed the acquisition of Particle Industries, an Internet of Things platform-as-a-service provider that combines hardware, software, and cloud services for connecting, managing, and deploying intelligent devices, for $50m, according to press releases.
Digi International was advised by Moelis & Co, according to press releases.
IonQ, a quantum company, completed the acquisition of Skyloom Global, a high-performance optical communications infrastructure that enables secure, high-speed data links across Earth and in orbit, according to press releases. Financial terms were not disclosed.
Symmetry Laser, a provider of precision laser cutting solutions for the medical device industry, completed the acquisition of ArcRev, a manufacturer specializing in high-precision, small-diameter laser-cut components for the medical device industry, according to press releases. Financial terms were not disclosed.
Symmetry Laser was advised by Covington Partners, according to press releases.
BlackRock, a global investment management corporation, and Eclipse, a venture capital firm, led a $257m series D round in Cellares, an integrated development and manufacturing organization focused on the automated, large-scale manufacture of cell therapies, with participation from T. Rowe Price Investment Management, Baillie Gifford, Duquesne Family Office, Intuitive Ventures, EDBI, Gates Frontier, DC Global Ventures, DFJ Growth, and Willett Advisors, according to press releases.
C3 AI is in talks to merge with software company Automation Anywhere. ( Reuters)
Enterprise artificial intelligence software provider C3.ai is in talks to merge with software company Automation Anywhere.
If completed, the transaction would see Automation Anywhere acquire C3.ai and become publicly listed as a result. Discussions are ongoing and may not lead to a finalized deal.
StandardAero backers said to seek $1.6bn in share sale. ( Bloomberg)
Two of StandardAero’s largest shareholders are seeking to raise up to $1.6bn through a secondary share sale in the aircraft maintenance services provider.
Private equity firm Carlyle Group and Singapore sovereign wealth fund GIC are marketing the shares at $31 to $32 each.
EMEA
EMERAM, an investment firm, agreed to acquire Hochfrequenz Unternehmensberatung, a company that supports energy supply companies with strategic, technological, and operational issues, according to press releases. Financial terms were not disclosed.
Hochfrequenz is advised by Quantum Partners. EMERAM is advised by Valantic, Alvarez & Marsal, Dissmann Orth and Noerr (led by Christoph Thiermann), according to press releeases and MergerLinks data.
Sword Health, a digital health company developing physical therapy programs for musculoskeletal conditions, completed the acquisition of Kaia Health, a digital therapeutics company that creates evidence-based treatments for a range of disorders including musculoskeletal conditions and COPD, for $285m, according to press releases.
Sword Health was advised by MAR Studio (led by Mariana Barbosa), according to press releases.
Silvercorp, a Canadian-based mining company that produces silver, gold, lead, and zinc, completed the acquisition of a 70% stake in Chaarat ZAAV, a mining company focused on the Tulkubash/Kyzyltash gold projects in the Kyrgyz Republic, from Chaarat Gold, a gold mining and development company focused on Central Asia, for $162m, according to press releases.
Silvercorp was advised by King & Wood Mallesons, according to press releases.
EFG International, a swiss private bank, agreed to acquire Quilvest, a pure-play Swiss private bank, according to press releases. Financial terms were not disclosed.
EFG is advised by Rothschild & Co, according to press releases and MergerLinks data.
Surteco is said to weigh the sale of skirtings and profile businesses. ( Bloomberg)
Surteco Group is considering the sale of assets, including its skirtings and technical profile businesses, in a potential divestment valued at between €100m ($119.2m) and €200m ($238.5m).
The Frankfurt-listed company is working with an adviser on the process, which remains at a preliminary stage and may not result in a transaction.
Air Baltic begins to explore a stake sale as IPO efforts stall. ( Bloomberg)
Latvia’s state-backed airline Air Baltic is preparing to appoint advisers to explore a partial sale of the business to investors as plans for an equity market listing remain delayed.
The flag carrier, which is majority-owned by the government, has been considering an initial public offering for several years and in November said the listing had been pushed back to 2026.
APAC
OPmobility, a sustainable mobility and a technology partner to mobility players worldwide, offered to acquire a controlling stake in lighting business of Hyundai Mobis, an automotive parts supplier, according to press releases. Financial terms were not disclosed.
OPmobility is advised by Morgan Stanley, according to press releases and MergerLinks data
Taiwan to merge four state asset managers into $12bn firm. (Bloomberg)
Taiwan plans to merge its four state-backed asset managers into a single local fund group with about $12bn of assets, as the government moves to consolidate the financial industry and improve competitiveness.
Finance Minister Chuang Tsui-Yun said the authorities would work toward completing the merger while responding to lawmakers in the legislature.
Cricket team Rajasthan Royals gets $1.3bn offer in test for IPL valuations. ( Bloomberg)
The owner of the Indian Premier League team Rajasthan Royals has invited four groups to advance to the next round of bidding for the franchise.
A consortium backed by US-based entrepreneur Kal Somani has submitted a preliminary offer of about $1.3bn, contingent on the future performance of IPL media rights, while another group is led by Times Internet chairman Satyan Gajwani.
Chevron seeks better terms from Iraq before taking over the Lukoil oilfield. ( Reuters)
Chevron is pushing Iraq to improve returns on the West Qurna 2 oil field as a condition for acquiring the project from Russia’s Lukoil.
The Iraqi government earlier this month nationalised the oil field following US sanctions imposed on Lukoil.
Thailand's CP Group and Fidelity International plan to invest in Muyuan's Hong Kong listing. ( Bloomberg)
Thai conglomerate Charoen Pokphand Group is planning to invest in the Hong Kong listing of Chinese pig breeder Muyuan Foods.
The group is expected to participate as a cornerstone investor in what is shaping up to be the city’s largest share sale of the year, alongside potential cornerstone investors including Fidelity International and UBS Asset Management.
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