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AMERICAS

Apax Partners and GIC to acquire a majority stake in ECI Software Solutions from Leonard Green & Partners.

Private equity firms Apax Partners and GIC, agreed to acquire a majority stake in ECI Software Solutions, a provider of industry-specific, cloud-based business management software, from Leonard Green & Partners, a private equity firm. Upon completion of the transaction, the Apax Funds will become a co-control owner of ECI, in partnership with Leonard Green & Partners. Financial terms were not disclosed, according to press releases.

ECI Software Solutions is advised by Jefferies & Company, Moelis & Co and Latham & Watkins. Apax Partners is advised by Barclays, Centerview Partners, Skadden Arps Slate Meagher & Flom (led by Ann Beth Stebbins and Kyle J. Hatton) and Kekst CNC (led by Todd Fogarty), according to press releases and MergerLinks data.

CoStar Group completes the acquisition of Matterport for $1.6bn.

CoStar Group, a provider of online real estate marketplaces, information and analytics in the property markets, completed the acquisition of Matterport, an American 3D spatial mapping company, for $1.6bn, according to press releases.

Matterport was advised by Qatalyst Partners (led by Jason DiLullo) and Foley & Lardner. Qatalyst Partners was advised by Debevoise & Plimpton (led by Michael Diz and Aly Love Simons). CoStar Group was advised by JP Morgan (led by Eric Menell and Gabriele Cambriglia) and Latham & Watkins (led by Daniel Rees and Charles Ruck), according to MergerLinks data and press releases.

Aquiline Capital Partners to acquire the family office services business of SEI for $120m.

Aquiline Capital Partners, a private investment firm specializing in financial services and technology, agreed to acquire the family office services business of SEI, a provider of financial technology, operations, and asset management services, for $120m, according to press release.

Aquiline Capital Partners is advised by Morgan Stanley, Ropes & Gray (led by Scott Abramowitz and Sam Levitt) and Apella Advisors (led by Anthony Silverman). SEI is advised by Holland & Knight and Vested, according to press releases and MergerLinks data.

J.F. Lehman-backed PURIS completes the acquisition of Creekside.

J.F. Lehman-backed PURIS, a company specializing in turnkey water infrastructure solutions, completed the acquisition of Creekside, an infrastructure and environmental services provider. Financial terms were not disclosed, according to press release.

Creekside was advised by Strategic Advisors and Metz Lewis Brodman Must O'Keefe. PURIS was advised by A&O Shearman (led by Alain Dermarkar, Robert Cardone and Kyle Park). Debt financing was provided by General Atlantic Credit and PSP Investments, according to press releases and MergerLinks data.

Seacoast Banking Corporation of Florida to acquire Heartland Bancshares for $110m.

Seacoast Banking Corporation of Florida, the holding company for Seacoast National Bank, agreed to acquire Heartland Bancshares, the parent company of Heartland National Bank, for $110m, according to press releases.

Heartland is advised by Hovde Group and Smith Mackinnon. Seacoast is advised by Piper Sandler, Alston & Bird and Sachs Media, according to press releases.

BlackRock-led investor group completes the acquisition of Digital Media Solutions.

BlackRock-led investor group, including Bain Capital, Blackstone and Abry Partners, completed the acquisition of Digital Media Solutions, a provider of technology-enabled digital performance advertising solutions connecting consumers and advertisers, according to press releases. Financial terms were not disclosed.

Digital Media Solutions was advised by Houlihan Lokey, Portage Point Partners, Kirkland & Ellis and Joele Frank (led by Aura Reinhard and Aaron Palash), according to press releases.

GI Partners and TA completes the acquisition of a majority stake in Egnyte.

GI Partners and TA, private equity firms, completed a majority investment in Egnyte, a software company that sells cloud-based content security, compliance, and collaboration tools for businesses, according to press releases. Financial terms were not disclosed.

GI Partners and TA were advised by Ropes & Gray (led by Eric Issadore). GI Partners was advised by Chris Tofalli Public Relations (led by Chris Tofalli). Egnyte was advised by Qatalyst Partners and Cooley, according to MergerLinks data and press releases.

Aurora Capital-backed Lubrication Engineers to acquire the industrial brands & products of from Royal Purple business from Calumet for $110m.

Aurora Capital-backed Lubrication Engineers, a developer and manufacturer of high-performance industrial lubricants and asset reliability solutions, agreed to acquire the industrial brands & products of from Royal Purple business from Calumet, a lubricating oils, solvents, waxes, packaged and synthetic specialty products, fuels and fuel-related products manufacturer, for $110m, according to press releases.

Lubrication Engineers is advised by ASC Advisors (led by Taylor Ingraham). Calumet is advised by Moelis & Co and Faegre Drinker Biddle & Reath, according to press releases.

Teleflex to spin-off into two publicly traded companies.

Teleflex, a provider of medical technologies, agreed to spin-off into two independent publicly traded companies. The first company will focus on Vascular Access, Interventional, and Surgical businesses, targeting high-growth, hospital-focused emergent end markets. The second company will encompass Teleflex's Urology, Acute Care, and OEM businesses, according to press release.

Teleflex is advised by Centerview Partners and Simpson Thacher & Bartlett, according to press releases and MergerLinks data.

New Mountain Capital-backed Amerit Fleet Solutions completes the acquisition of Vector Fleet Management.

New Mountain Capital-backed Amerit Fleet Solutions, a provider of dedicated, custom-built fleet maintenance, repair, and management services for commercial fleets, completed the acquisition of Vector Fleet Management, a provider of fleet maintenance and parts management services, according to press releases. Financial terms were not disclosed.

Vector was advised by Anderson LeNeave & Co. New Mountain was advised by H/Advisors Abernathy (led by Dana Gorman), according to press releases.

MPLX to acquire the remaining 55% stake in BANGL from WhiteWater and Diamondback Energy for $715m.

MPLX, a midstream energy infrastructure and logistics assets operator, agreed to acquire the remaining 55% stake in BANGL, a pipeline system that transports natural gas liquids, from WhiteWater, an infrastructure company, and Diamondback Energy, an oil and natural gas company, for $715m, according to press releases.

WhiteWater is advised by Simpson Thacher & Bartlett (led by Shamus Crosby and Katy Lukaszewski), according to MergerLinks data and press releases.

Alkami Technology to acquire MANTL for $400m.

Alkami Technology, a cloud-based digital banking solutions provider for financial institutions, agreed to acquire MANTL, an account opening solution provider, for $400m, according to press releases.

Alkami is advised by Vested, according to press releases.

TELEO Capital completes the acquisition of SOFTRAX from TELUS.

TELEO Capital, a private equity firm, completed the acquisition of SOFTRAX, a provider of a revenue lifecycle management platform, from TELUS, a holding company and conglomerate, according to press releases. Financial terms were not disclosed.

Meta in talks to raise $35bn for data center financing led by Apollo. (Bloomberg)

Meta is in discussions with Apollo Global Management, to secure $35bn in financing for data center expansion. The funding aims to support Meta’s growing AI infrastructure needs. In January, CEO Mark Zuckerberg announced plans to invest up to $65bn this year to expand AI capabilities.

Apollo is expected to provide a significant portion of the financing. Meta is also investing $10bn in an AI data center in Louisiana, collaborating with Entergy to power the facility with renewable energy.

Bain Capital mulls $10bn sale of Rocket Software. (Reuters)

Private equity firm Bain Capital is weighing options, including a sale, for Rocket Software that could value the US automation software provider at as much as $10bn, including debt.

Bain's deliberations come as the artificial intelligence boom is forcing large corporations to increase their technology spending to upgrade outdated business software and automate more routine tasks.

Bain has tapped Moelis & Company and RBC Capital Markets to advise Rocket on its sale process, which is expected to launch in the coming weeks.

Occidental divests Colorado assets to NGP Energy Capital for over $900m. (Bloomberg)

Occidental Petroleum has sold its assets in Colorado's Denver-Julesburg Basin to NGP Energy Capital Management for over $900m. This divestment is part of Occidental's strategy to reduce debt following its $12bn acquisition of CrownRock in August 2024.

The company plans to use the proceeds from this sale, along with other divestitures totaling $1.2bn, to strengthen its balance sheet.

Equinor in talks to sell Argentina shale assets to YPF. (Bloomberg)

Equinor has engaged in discussions with its joint venture partner, state-run YPF, about selling stakes in Argentine shale oil assets.

YPF holds preferential rights in any divestment process, and early-stage talks have taken place regarding a potential transaction. Equinor, Norway’s largest oil company, has also begun valuing and assessing the assets as part of the process.

Ryan Reynold's MNTN files for IPO amid revenue growth. (Bloomberg)

MNTN, a connected TV advertising platform where Hollywood star Ryan Reynolds serves as chief creative officer, has filed for an initial public offering, reporting revenue growth and reduced losses.

The company, which provides advertising software for brands to run campaigns on connected TVs, will offer new shares alongside selling stockholders, according to a filing with the US Securities and Exchange Commission. The proposed terms for the listing will be disclosed in a later filing when underwriters begin marketing the shares.

Principal closes $3.64bn capital raise for Data Center Growth & Income Fund. (Business Wire)

Principal Asset Management, the investment management arm of Principal Financial Group, has completed the final investor close for its Principal Data Center Growth & Income Fund on February 28. The fund, dedicated to developing a portfolio of hyperscale data center projects across the US, raised $3.64bn, surpassing its target with contributions from a diverse global investor base. This marks Principal’s third discretionary data center-focused investment vehicle.

The fund is set to finance more than $8bn in hyperscale development assets across the US in partnership with Stream Data Centers, a leading provider of digital infrastructure solutions.

Coatue hires Blackstone’s Peter Wallace as co-president and head of private investments. (Bloomberg)

Peter Wallace, a nearly three-decade veteran of Blackstone, is joining Coatue Management as co-president and head of private investments.

Following a garden leave period, he will begin alongside Carlyle Group alumnus Nathan Urquhart, who takes on the newly created role of co-president and head of strategy. Coatue co-founder Philippe Laffont announced the appointments in an investor letter.

EMEA

FCA approves CVC Capital, Nordic Capital and ADIA's £5.4bn acquisition of Hargreaves Lansdown.

FCA approves private equity firms CVC Capital, Nordic Capital and ADIA's £5.4bn acquisition of Hargreaves Lansdown, a financial service company based in Bristol. Completion of the acquisition remains subject to the court sanctioning scheme, according to press release.

Hargreaves Lansdown is advised by Barclays (led by Adrian Beidas and Alisdair Gayne), Deutsche Numis (led by Charles Farquhar and Derek Shakespeare), Fenchurch Advisory Partners (led by Richard Locke), Morgan Stanley (led by Gillian Sheldon), Freshfields Bruckhaus Deringer (led by Stephen Hewes and Claire Wills) and Brunswick Group (led by Nick Cosgrove and Joanna Donne). ADIA is advised by Goldman Sachs (led by Mark Sorrell), Linklaters (led by Christopher Boycott). Goldman Sachs is advised by Ashurst (led by Tom Mercer). CVC is advised by Latham & Watkins (led by Doug Abernethy, Suneel Basson-Bhatoa, and Kem Ihenacho) and FGS Global (led by Guy Lamming and Mike Turner). Nordic Capital is advised by Kirkland & Ellis (led by Keir MacLennan, Dipak Bhundia, David Higgins, Chris Connolly and Victoria Legg). RDV is advised by Gibson Dunn & Crutcher (led by Mark Sperotto and Edward Sopher), according to press releases and MergerLinks data.

Phoenix Tower International completes the acquisition of the Ireland business of Cellnex Telecom for €971m.

Phoenix Tower International, a telecommunications company operating wireless infrastructure sites, completed the acquisition of the Ireland business of Cellnex Telecom, an operator of towers and telecom infrastructures, for €971m ($1.01bn), according to press releases.

Phoenix Tower was advised by AZ Capital, Nomura (led by Stefano Giudici) and Arthur Cox (led by Connor Manning and Brian O'Gorman). Cellnex was advised by Barclays (led by Thomas Cowen), Santander (led by Rodrigo Teixeira) and Matheson (led by George Brady), according to MergerLinks data and press releases.

Trive Capital completes the acquisition of a majority stake in Independent Forgings & Alloys from BGF.

Trive Capital, a Dallas-based private equity firm, completed the acquisition of a majority stake in Independent Forgings & Alloys, a UK-based manufacturer of open and closed-die forgings, from growth capital investor BGF. Financial terms were not disclosed, according to press release.

Independent Forgings was advised by Kroll (led by Dafydd Evans) and Knights. Trive Capital was advised by Willkie Farr & Gallagher (led by Brandon McCoy and David Arnold), according to press releases and MergerLinks data.

Ardian to acquire an additional 10% stake in Heathrow from Ferrovial and CDPQ.

Ardian, a private equity firm, agreed to acquire an additional 10% stake in Heathrow airport from, private equity firms Ferrovial and CDPQ. Financial terms were not disclosed, according to press release.

Ardian is advised by RBC Capital Markets and Clifford Chance, according to press releases and MergerLinks data.

Alpha Bank to acquire AstroBank for €205m.

Alpha Bank, a Greek banking group, agreed to acquire AstroBank, a Cypriot bank, for €205m ($213m), according to press release.

Alpha Bank is advised by JP Morgan, according to press releases and MergerLinks data.

Ina Invest to merge with Cham Group.

Ina Invest, a Swiss real estate firm, agreed to merge with Cham Group, a real estate services provider, according to press releases. Financial terms were not disclosed.

Fastbreak AI completes the acquisition of Barcelogic.

Fastbreak AI, an AI-powered sports operations engine, completed the acquisition of Barcelogic, a sports schedule optimization provider, according to press releases. Financial terms were not disclosed.

Revolut pressed to consider share sale at $60bn valuation. (Bloomberg)

Investors are urging Revolut to explore another secondary share sale as new investors seek opportunities to gain a stake in the rapidly growing fintech.

Some shareholders have expressed interest in selling their shares in a potential sale valuing the company at $60bn. This would mark a significant increase from the $45bn valuation in a secondary share sale just six months ago.

Air France-KLM ready to bid for Portugal’s TAP. (Reuters)

Air France-KLM CEO Ben Smith said the airline is prepared to submit its proposal for the privatization of Portugal’s flag carrier, TAP. The group aims to invest in the local economy and enhance connectivity for the country’s secondary cities.

Air France-KLM joins Lufthansa and British Airways owner IAG in expressing interest in TAP’s privatization, which the Portuguese government plans to complete this year.

Exor sells 4% Ferrari stake to raise €3bn for acquisitions.

Exor, the holding company of Italy's Agnelli family, has sold a 4% stake in Ferrari, raising approximately €3bn ($3.1bn). The sale was conducted through an accelerated bookbuilding process, with shares priced at €450 ($467) each. Exor plans to use the proceeds for a significant new acquisition and a $1bn share buyback program.

Following this transaction, Exor remains Ferrari's largest shareholder, retaining a 20% stake and 30% of voting rights. Ferrari also participated in the buyback, purchasing shares worth about $311m.

The accelerated bookbuilding procedure was conducted by JP Morgan and Goldman Sachs. Morgan Stanley, BNP Paribas, Intesa Sanpaolo, Societe Generale, and Unicredit acted as underwriters. Legal advisors included Sullivan & Cromwell, Cleary Gottlieb Steen & Hamilton, Loyens & Loeff, and De Brauw Blackstone.

Global insurers, asset managers prepare final bids for Viridium. (Bloomberg)

Several leading insurers and asset managers are preparing final bids for Viridium Group, a German life insurance consolidator. The sale, initiated by private equity firm Cinven, is expected to value Viridium at approximately €3bn ($3.1bn).

Potential bidders include Athora, an affiliate of Apollo Global Management; Resolution Life, backed by Blackstone; and investment firm Sixth Street. Additionally, Fortress Investment Group, supported by Mubadala Capital, and BlackRock are considering a joint bid.

Viridium, based near Frankfurt, manages legacy life insurance portfolios with €67bn ($70bn) in assets under management. Cinven, which co-founded Viridium in 2014 with Hannover Re, has engaged Goldman Sachs and Fenchurch Advisory as advisors for the sale process.

Italian tycoon Caltagirone raises Monte dei Paschi stake to 8%. (Reuters)

Francesco Gaetano Caltagirone has increased his stake in Banca Monte dei Paschi to 8%, expanding his presence in Italy’s financial sector.

Caltagirone’s investments place the construction and media magnate at the center of ongoing consolidation in the industry. The stake increase follows MPS’s unexpected €13.3bn ($13.8bn) all-share bid for Mediobanca in January, a move the Milanese merchant bank has labelled as hostile.

UK competition regulator to scrutinize fewer global deals amid pro-growth agenda. (FT)

The UK's Competition and Markets Authority plans to reduce its scrutiny of global mergers and acquisitions, aligning with the government's push for a more pro-growth agenda. Sarah Cardell, the CMA's Chief Executive, indicated that only a small number of global deals might proceed without CMA scrutiny, while ensuring that harmful mergers to consumers are still reviewed. This shift aims to streamline regulatory processes and encourage economic expansion by focusing on domestic competition concerns rather than international deals.

The CMA is also cutting timelines on certain merger consultations to accelerate the process, following government pressure to be more agile. The government's draft "strategic steer" suggested avoiding duplication where other regulators are also assessing deals concerning UK interests.

The CMA has faced intense criticism for allegedly inhibiting business investment, leading to the recent replacement of its chair with Doug Gurr, former head of Amazon UK. Despite the changes, Cardell warned businesses against lobbying the government on individual deals, as it would be unproductive. She acknowledged the need for change but maintained that the CMA's approach is coherent and structured.

Saudi developer Umm Al Qura attracts $126bn in IPO orders. (Bloomberg)

Umm Al Qura For Development and Construction, a Saudi property developer, has received $126bn in orders for its initial public offering.The company plans to raise $523m by pricing shares at the top end of the proposed range, set at $4 per share.The institutional tranche was oversubscribed 241 times, reflecting strong investor interest.

The IPO comprises 131m shares, representing 9.09% of the company's post-offering capital.Of these, 13m shares (10% of the offering) are allocated for retail investors, with the subscription period scheduled from March 5 to March 9.

Albilad Capital, GIB Capital, Al Rajhi Capital, and alinma are acting as joint financial advisors, bookrunners, and underwriters for the IPO. Additionally, Lazard is serving as a financial advisor to Umm Al Qura.

Prada’s Miuccia Prada confirms interest in Versace amid potential sale. (Reuters)

Miuccia Prada, owner of the Italian luxury group Prada Group, has acknowledged widespread interest in acquiring Versace, stating, "It is on everybody's table." This follows reports that Capri is exploring the sale of its Versace brand, with Prada granted a four-week exclusive period to review Versace’s financials. No final decision has been made regarding the acquisition.

Other potential suitors include OTB, whose founder, Renzo Rosso, has also expressed interest in acquiring Versace. Capri is working with Barclays to facilitate the potential sale.

This development comes after Capri’s proposed $8.5bn merger with Tapestry, the owner of Coach, was blocked by a US federal judge. Following this, Capri Holdings has been reviewing its portfolio and considering divestments, including Versace.

Freshfields hires top London energy lawyers from Paul Hastings. (Bloomberg)

Freshfields has recruited two energy and infrastructure lawyers from Paul Hastings amid intensifying competition for legal talent.

Jessamy Gallagher joins Freshfields as global co-head of its energy and real assets group. She previously served as global co-chair of the corporate department and was a partner in the energy and infrastructure practice at Paul Hastings in London.

APAC

Weir Group to acquire Micromine from Potentia Capital for A$1.3bn.

Weir Group, a global engineering company specializing in mining equipment and technology, agreed to acquire Micromine, a leading provider of mining software solutions, from Potentia Capital, a private equity firm, for A$1.3bn ($806m), according to press release.

Weir Group is advised by Barclays and JP Morgan, according to press releases and MergerLinks data.

State Street to acquire the global custody business from Mizuho Financial.

State Street, a provider of financial services to institutional investors, agreed to acquire the global custody and related businesses outside of Japan from Mizuho Financial, a full-service financial institution, according to press releases. Financial terms were not disclosed.

Australia's Ramsay Health Care is considering a sale of its European division. (Reuters)

Ramsay Health Care has appointed Goldman Sachs to explore strategic options for its stake in its European division following an internal review, indicating a potential sale.

The decision comes amid recent management changes, including the resignation of the group finance chief earlier this year, with a successor yet to be named. The company is also prioritizing the expansion of its core Australian hospital business.

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