Illustration: Brendan Lynch. Stock: Getty Images
Private Equity Buys
• Act III Holdings invested an additional $50m in Level99, a real-world gaming venue company. Go deeper
• Amit Bhatia is leading a consortium that's in discussions to take a minority stake in Liverpool Football Club from Fenway Sports Group. Go deeper
• The Artificial Intelligence Infrastructure Partnership, a consortium including BlackRock's Global Infrastructure Partners and MGX completed their previously announced acquisition of Aligned Data Centers from Macquarie Asset Management and investors for $40b. Investors are considering putting another $5b into the deal. Go deeper
• Advent hired Morgan Stanley to sell its stake in Tigre, a Brazilian manufacturer of pipe and hydraulic systems. Go deeper
• Assisi Pet Care, backed by Wind Point, acquired Forthglade, a U.K.-based pet food and treats company, from IK Partners. Go deeper
• Bain Capital agreed to acquire SupplyOn, a London-based supply chain collaboration platform. Go deeper
• Bain and LY are considering a fresh joint offer for Kakaku.com, a Japanese online marketplace. Go deeper
• Bluestone Investment Partners invested in Delphinus Engineering, a Newton Square, Pa.-based provider of maintenance and industrial services to the U.S. Navy and maritime defense community. Go deeper
• Bregal Sagemount will take a majority stake in ATOZ Services, a Luxembourg-based fund services platform. ICG will retain a minority stake. atoz-services.lu
• Brookfield Asset Management and Canada Pension Plan Investment Board agreed to acquire N.Y.-based REIT LXP Industrial Trust LXP for $5.2b in cash. Go deeper
• Brightstar Capital Partners acquired BrightTree Studios, a Warrendale, Pa.-based tech design and consulting firm. Go deeper
• Butterfly Equity and Graham Partners invested in Custom Flavors, a San Clemente, Calif.-based flavor maker for bakery items, snack foods, supplements, drinks and dairy products. Go deeper
• Cabana, a San Diego-based pool service company backed by Atlantis Ventures, Interlock Capital, Contrarian Thinking Capital and Asymmetric Capital Partners, acquired H&H Pool Services, an SF-based residential pool service and repair company. Go deeper
• Cinven agreed to acquire Salsify, a Boston-based product experience management software solution backed by Crosswork, Ensemble VC, Permira, TPG, Warburg Pincus, StepStone Group, Underscore VC, and Venrock. Go deeper
• Coalesce Capital invested in Workstreet, an SF-based compliance and cybersecurity solution for regulated industries. workstreet.com
• Examinetics, backed by Coalesce Capital, acquired Progressive Safety, an Olathe, Kan.-based on-site safety provider, and Jurgiel & Associates, a St. Charles, Mo.-based industrial hygiene and safety consulting company. Go deeper
• Falfurrias Growth Partners invested in FactorLab, a platform for planning high-risk work in distributed operations. Go deeper
• GA Group, backed by Oaktree Capital Management, has acquired Trampe Settles, a Dallas-based forensic accounting and litigation practice focused on family law. gagroup.com
⚡ Greenbelt Capital Management made a majority investment in Bowe & Gant Electrical Services, a provider of electrical and energy infrastructure services. Go deeper
• Harbinger Sports Partners Fund, led by Mark Cuban, is buying a minority stake in MLB's Athletics. Go deeper
• Hg invested in Street Group, a Manchester, U.K.-based provider of vertical software for the residential property market. It values the company over €233.8m.(£200m). PXN Group backed Street Group. Go deeper
• ITE Management acquired North American Chassis Pool Cooperative, a North American chassis platform. Go deeper
• JM Test Systems, backed by Kanbrick, acquired acquisition of Alltite, Wichita, Kan.-based provider of calibration and torque equipment services. Go deeper
• KKR plans to gradually sell its investment in LCY Group, a Taiwanese chemical manufacturer that supplies TSMC. Go deeper
🚑 Knox Lane completed its acquisition of Cross Country Healthcare, a Boca Raton, Fla.-based healthcare workforce solutions company. Go deeper
• Leap Partners, backed by Concentric Equity, acquired Central Heat & Air, a Cleveland, Tenn.-based HVAC provider. Go deeper
• Life Science Connect, backed by Latticework Capital Management, acquired Precision Medicine World Conference, a life science events operation. Go deeper
• Madison River Capital invested in Pro-Max, a Miami-based structural repair, restoration, painting, and roofing solution. pro-max.us
• Former Sequoia Capital managing partner Mark Stevens, Sixth Street, Carlyle, and Dynasty Equity Partners Management are in talks for a joint bid, the Seattle Seahawks. Go deeper
🚑 Mindoula, backed by Equality Asset Management, acquired Janus Healthcare Partners, a Duxbury, Mass.-based psychiatric care provider, and Valera Health, an NYC-based virtual mental health company. Go deeper
⚡️MN8 Energy, backed by Ridgewood Infrastructure, agreed to acquire Greenbacker Renewable Energy, a New York-based renewable-power producer, for up to $375m. Go deeper
• Orion Legal MSO, backed by Uplift Investors, acquired Bottaro Injury Lawyers. Go deeper
• Pelican Energy Partners acquired Riggins Company, a Hampton, Va.-based metal fabrication and custom components maker. Go deeper
• Pepper Advantage, backed by J.C. Flowers & Co., acquired Dilosk DAC, an Irish residential mortgage origination and servicing platform. Go deeper
• Pine Services Group, backed by Evergreen, acquired Datel, a U.K.-based Sage software implementation advisory. Go deeper
• Platinum Equity is nearing a deal to acquire a stake in Nestlé's European water business that would value the company at close to €5b, per Financial Times. Go deeper
• Private Equity at Goldman Sachs Alternatives acquired Aegis Hedging Solutions, a The Woodlands, Texas-based commodity market intelligence, from Greenbelt Capital Partners and Baird Capital. Go deeper
• Searchlight Capital Partners and Abry Partners completed their acquisition of Kore (NYSE: KORE), an Atlanta-based IoT company, for $726m. Go deeper
• SEMCAP Beauty & Wellness made a minority investment in MERIT, a U.S.0based based cosmetics brand. Go deeper
• Siris will exercise its option to maintain ownership EQ Retirement Solutions, EQ Customer Resolutions and Lenvi, a U.K. pension and from Equiniti, a U.K. stock transfer and ownership advisory. Siris agreed to sell Equiniti to Bullish (NYSE: BLSH) for $4.2b . Go deeper
• Stone Point Capital completed its investment in Amber River, a U.K.-based financial planning business. Go deeper
• SuanNutra, a Carbyne Equity Partners portfolio company, agreed to acquire IFF's (NYSE: IFF) botanical extracts, vitamins & minerals and food enhancement portfolio. Go deeper
• Tayeh Capital Group invested in Council Advisors, a C-suite advisory firm. counciladvisors.com
• Tinicum invested in GracoRoberts, an Arlington, Texas-based specialty chemicals distributor. Go deeper
• Truelink Capital acquired Lyons Magnus, a Fresno, Calif.-based flavored ingredients and beverages company, from Paine Schwartz for a reported $1b valuation. Go deeper
• Vesterra Capital Partners acquired of PHFM, a Columbus, Ohio-based provider of facilities maintenance services to commercial customers, from Powerhouse Services, a Lincolnshire Management portfolio company. Go deeper
• Vybe Urgent Care, backed by NewSpring Capital, acquired Horsham and Hatfield, Pa.-based Liberty Urgent Care Centers. Go deeper
• Winterbird Partners invested in Emergent Software, a Microsoft services advisory. Go deeper
Private Equity Sells
• BasicBlock, a Lincoln, Neb.-based truck cargo payments platform, acquired TrueNorth Technologies, an SF-based fleet logistics company that raised nearly $73m from 137 Ventures, Fifth Down Capital, and Flexport. Go deeper
• Gravitics Holdings, a Miami-based maker of orbital systems, filed to raise up to $125m. It posted $1m in revenue last year, and a net loss of $30.6m. New Dawn Investments and Type One Ventures back the firm. Go deeper
• GrubMarket, an SF-based food e-commerce company valued by VCs at $4.5b, acquired SPUD, a Canadian online grocery service. Go deeper
• Iberdrola (Madrid: IBE) agreed to acquire a majority stake in Finnish electricity distributor Caruna Group for $2.29b, from an entity controlled by Ontario Teachers' Pension Plan and funds managed by KKR. Go deeper
• Karman Space & Defense (NYSE: KRMN) agreed to acquire Walker Precision Engineering, a Scottish aerospace and defense engineering firm backed by BGF, for $94m. Go deeper
• Palo Alto Networks (NASDAQ: PANW) agreed to acquire Embrace, a LA-based provider of an observability platform. NEA and AV8 Ventures backed it. Go deeper
• Reformation, a Vernon, Calif.-based women's clothing brand backed by Permira, is targeting a valuation of up to $1b in its IPO. per its updated S-1. Go deeper
• SoftBank Group is weighing an acquisition of Gravis Robotics, a European robotics startup backed by Armada Investments and IQ Capital Partners. Go deeper
• TE Connectivity (NYSE: TEL) agreed to acquire Astrodyne TDI, a power management and filtering solutions company, for $1.4b from Tinicum. Go deeper
• Vertiv Holdings (NYSE: VRT) acquired Strategic Thermal Labs, a Georgetown, Texas-based liquid cooling technology company backed by Carrier Ventures and Cowtown Angels. Go deeper
🚑 Wildflower Health, an SF-based women's digital health company, acquired Every Mother, an NYC-based digital pelvic floor health platform that raised $1.85m from Courtside Ventures. Go deeper
More M&A
• Garmin (NYSE: GRMN) acquired TrainingPeaks and TrainHeroic, training platforms for athletes and coaches. Go deeper
• IBM Corp. (NYSE: IBM) is acquiring HRL Laboratories, a quantum computing research lab jointly owned by Boeing Co. and General Motors. Go deeper
• Japan's participation in a $40b U.S. nuclear power project has hit roadblocks over concerns that Japanese lenders may have to assume liability for any meltdown on American soil. Go deeper
• Kuehne+Nagel is considering strategic alternatives for its Apex Logistics Unit, an Asia-focused frieght forwarder, per Bloomberg. Go deeper
⚡ Magnolia Oil & Gas (NYSE: MGY) agreed to buy WildFire Energy for about $4.1b. Go deeper
• Mark Foods acquired Endeavor Seafood, a Newport, R.I.-based importer and marketer of frozen seafood products. Go deeper
• Origin Merchant Partners acquired Consensus, a U.S.-based consumer-focused investment banking firm with offices in Boston and New York. Go deeper
• Paramount Skydance's takeover of Warner Bros. Discovery has been paused by a U.S. federal judge. Go deeper
• Progress Software (Nasdaq: PRGS) agreed to acquire the assets and some liabilities of Domo (NASDAQ: DOMO), a Silicon Slopes, Utah-based data company, for $400m. Go deeper
• Prologis is nearing a £14b ($18.7b) acquisition of Segro, a London REIT, after three previous unsuccessful bids. Go deeper
• Repligen (NASDAQ: RGEN) agreed to acquire BioLife Solutions (NASDAQ: BLFS), a maker of a product that preserves cell therapies, for an enterprise value of about $1.5b. Go deeper
🚑 Scancell announced a reverse merger with Neuphoria Therapeutics, was testing Alzheimer's disease medicines. It plans to list Nasdaq under the symbol "SCLT". Go deeper
🚑 Tempus AI (Nasdaq: TEM) agreed to buy Personalis (Nasdaq: PSNL), a Fremont, Calif.-based cancer genomics company, for $1.7b. Go deeper
• Utz Brands (NYSE: UTZ) agreed to be taken private by Intersnack Group, a German salty snacks maker, at a $2.9b valuation. Intersnack would pay a 91% premium to Monday's close. Go deeper
• Vireo Growth agreed to acquire The Cannabist Company's cultivation, manufacturing, and retail operations across Colorado, Illinois, Massachusetts, New Jersey, and West Virginia for up to $35m. Go deeper
• The Vita Coco Company (NASDAQ: COCO) acquired Copra Coconuts, a supplier of sustainably-sourced Thai coconut water and meat. Go deeper
• WSP Global made a second unsolicited bid for Arcadis, a Dutch consulting and engineering firm, valuing it at €4.7b ($5.4b). Go deeper
Fundraising
• Avenue Growth Partners closed its second fund at $155m. Go deeper
• Capitol Meridian Partners raised $1.9b for its second fund. capitolmeridian.com
• Clipway closed its debut secondaries platform at $6.4b. Go deeper
• Dimension Capital raised $800m for its third fund. Go deeper
• Francisco Partners closed its eighth flagship fund and fourth middle market fund with $21b. Go deeper
• IVP is raising $1.8b for its 19th flagship fund, per Newcomer. Go deeper
• LLCP, closed LLCP Lower Middle Market IV with $2b. Go deeper
• Partners Group closed its fourth direct infrastructure investment fund with over $15b. Go deeper
• Tikehau Capital closed its sixth European Direct Lending strategy at €5.2b. Go deeper
• TruArc Partners closed TruArc Partners Fund V with $1.2b. truarcpartners.com
It's Personnel
• Brian Michaud was promoted to managing partner at Littlejohn & Co. Go deeper
• Hong Pan and Steve Talbot were named partners at Aqualis Partners. Go deeper
• Tristan Walker, founder Walker & Company Brands, joined Collaborative Fund as a partner. He will focus on the firm's private equity strategy, Collab Holdings. collabfund.com
