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Top Highlights
World Wide Technology, a global technology solutions and services provider, agreed to acquire Softchoice, a software and cloud-focused IT solutions provider, for CAD1.8bn ($1.2bn).
Softchoice is advised by RBC Capital Markets, TD Securities and Stikeman Elliott. WWT is advised by BDT & MSD Partners, Bank of America, Blake Cassels & Graydon and Bryan Cave Leighton Paisner.
DT Midstream, an owner, operator and developer of natural gas interstate and intrastate pipelines, completed the acquisition of three FERC-regulated natural gas transmission pipelines from ONEOK, a midstream service provider that gathers, processes, transports, and stores natural gas and natural gas liquids, for $1.2bn.
DT Midstream was advised by Barclays and Weil Gotshal and Manges (led by Omar Samji). Debt financing was provided by Barclays. ONEOK was advised by Skadden Arps Slate Meagher & Flom (led by Eric Otness).
Truelink Capital, a middle-market private equity firm, completed the acquisition of GES business from Viad, a provider of extraordinary experiences, including attractions, hospitality, exhibition services, for $535m.
Deal Round up
AMERICAS
HEI announces $450m sale of American Savings Bank. ( Press Release)
FalconX in talks to acquire Arbelos. ( Bloomberg)
Oak Row Equities acquire a Miami waterfront property from Aimco for $520m. ( Press Release)
EMEA
Messi's real estate trust debuts in Spain. ( Reuters)
APAC
CTF Services looking to sell $2bn of road assets in China. ( Bloomberg)
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AMERICAS
Casago, a vacation rental property management company, agreed to acquire Vacasa, a vacation rental management platform in North America, for $128m.
Vacasa is advised by PJT Partners, Latham & Watkins and Vinson & Elkins. PJT Partners is advised by Sullivan & Cromwell (led by Matthew Goodman). Casago is advised by Jefferies & Company and Skadden Arps Slate Meagher & Flom (led by Christopher Barlow).
Teledyne, a provider of sophisticated digital imaging products and software, completed the merger with Micropac, a diversified, high-technology company specializing in high-reliability microcircuit products and electronic assemblies, in a $57m deal.
Micropac was advised by Mesirow Financial and Haynes and Boone (led by Tom Harris and Dan Malone). Teledyne was advised by McGuireWoods.
Highlander Partners, a Dallas-based private investment firm, completed the acquisition of Ergobaby, a provider of premium baby carriers, from Compass Diversified, a holding company. Financial terms were not disclosed.
Highlander Partners was advised by Katten Muchin Rosenman. Compass Diversified was advised by Robert W Baird (led by Rob Rosenfeld).
Tractor Supply Company, a rural lifestyle retailer in the United States, completed the acquisition of Allivet, a privately held online pet pharmacy. Financial terms were not disclosed.
Tractor Supply Company was advised by Debevoise & Plimpton (led by Spencer Gilbert).
FalconX in talks to acquire Arbelos. (Bloomberg)
Digital asset trading and brokerage company FalconX is in negotiations to acquire Arbelos Markets, a trading firm providing principal liquidity across crypto derivatives markets, ranging from high-touch to programmatic.
The transaction will be financed through a combination of cash and FalconX stock and is expected to be announced as soon as this week.
HEI announces $450m sale of American Savings Bank. (Press Release)
Hawaiian Electric Industries announced the closing of the sale of 90.1% of the common stock of American Savings Bank to independent investors via separate agreements. The transaction values the bank at $450m.
The transaction closed on December 31, 2024, with each Investor having a non-controlling interest in ASB. No investor owns more than 9.9% of the bank’s common stock, including HEI, which has retained a 9.9% stake.
HEI was advised by Piper Sandler, Guggenheim Securities and Sullivan & Cromwell. American Savings Bank was advised by Davis Polk & Wardwell (led by Margaret E. Tahyar).
Oak Row Equities acquire a Miami waterfront property from Aimco for $520m. (Press Release)
One Row Equity, a vertically integrated real estate private equity and development company, agreed to acquire a Miami waterfront property from Aimco in a record $520m deal.
The sale, which is subject to certain closing conditions and extension options, is scheduled to occur as early as March 2025.
EMEA
Blackstone and Rivean Capital-backed Enstall, a rooftop solar mounting solutions provider, completed the acquisition of Schletter Group, a solar mounting systems provider. Financial terms were not disclosed.
China Three Gorges, a Chinese state-owned power company, agreed to acquire a majority stake in NCP Mula Solar, a 494 MWp solar photovoltaic plant located in Murcia, from private equity firms Northleaf Capital Partners and Qualitas Energy. Financial terms were not disclosed.
Northleaf Capital Partners is advised by Ernst & Young, Societe Generale, Watson Farley & Williams, Stanton PRM and DNV.
Brookfield Renewable, a Canadian multinational company, completed the acquisition of a 12.45% stake in four UK offshore wind farms from Ørsted, a developer of offshore and onshore renewable energy farms, energy storage facilities, and bioenergy plants, for $2.3bn.
Brookfield was advised by Brunswick Group. Ørsted was advised by Morgan Stanley.
NVIDIA, a technology company, completed the acquisition of Run:ai, a workload management and orchestration software provider, for $700m.
Avida Finans, a specialist in consumer and SME financing, completed the acquisition of the credit card and sales financing business of Santander Consumer Bank, a banking services company. Financial terms were not disclosed.
Santander Consumer Bank was advised by Wiersholm (led by Gunhild Dugstad).
Messi's real estate trust debuts in Spain. (Reuters)
Football star Lionel Messi listed his real estate portfolio via a company named Edificio Rostower Socimi, valued at €223m ($232m). The firm, now operating as a real estate investment trust, manages a diverse array of assets, including seven hotels, commercial properties for retail and offices, and residential homes, according to its prospectus.
The REIT’s share price was set on December 30 at €57.4 ($59.9) on a small, digital-only Spanish bourse called the Portfolio Stock Exchange.
APAC
Haleon, a British multinational consumer healthcare company, completed the acquisition of an additional 33% stake in Tianjin TSKF Pharmaceutical, a pharmaceutical company, for CNY4.465bn ($611m).
Haleon was advised by UBS.
CTF Services looking to sell $2bn of road assets in China. (Bloomberg)
CTF Services, the infrastructure arm of Hong Kong’s Cheng family, is exploring the sale of a toll road portfolio in mainland China, valued at approximately $2bn.
Discussions are at an early stage with Yuexiu Group, a state-owned Chinese enterprise, alongside other prospective buyers. The company is open to splitting the portfolio into smaller segments to attract additional interest. This divestment aligns with CTF Services' efforts to streamline its infrastructure portfolio and reallocate resources.
Bloks Group is looking to raise up to $188m in a Hong Kong IPO, as the Chinese toy maker aims to ramp up product development and output while cashing in on the reviving IPO market.
The firm is aiming to sell 24m shares.
Tae Jin Park, JP Morgan’s top banker in South Korea, is retiring after a 23-year tenure.
During his career, Park played a pivotal role in major transactions, including Samsung’s $1bn bond sale and Hyundai Motor’s $3.3bn Indian stock market debut.
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