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M&A Deals

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• Air Canada is selling a 25% stake in its Aeroplan loyalty program for C$2.5b to Blackstone, Caisse de Dépôt et Placement du Québec, PSP Investments and British Columbia Investment Management Corp. Go deeper

• Airo Mechanical, backed by CCMP Growth, acquired Legrande's Enterprises, a specialty plumbing and HVAC firm. Go deeper

• Amberjack Capital Partners acquired PMV Automation, a Houston-based maker of water management parts, from Flowserve (NYSE: FLS). Go deeper

⚾ Apollo Sports Capital is providing $2.6b in equity and debt to the New York Yankees. Go deeper

• Astara Capital Partners acquired Dynatec Systems, a Burlington, N.J.-based provider of membrane-based industrial wastewater treatment services. Go deeper

• Baymark Partners bought Meal Prep Sunday, a Vista, Calif.-based meal prep and delivery service. Go deeper

• Bernhard Capital Partners agreed to acquire Bowman Consulting Group (Nasdaq: BWMN), a Reston, Va.-based engineering services and program management firm, for around $1b, or $43 per share. Go deeper

• Blue Owl Capital acquired a minority stake in secondaries manager Hollyport Capital. Go deeper

• CAI Software, a portfolio company of STG Partners, acquired LLumin, a Springfield, Mass.-based computerized maintenance management system for manufacturers. Go deeper

• Chatham Financial received a strategic investment from GIC, Atairos, and Vikram Pandit, CEO of The Orogen Group. Go deeper

🚑 CHG Healthcare, a Utah-based medical staffing agency backed by Ares and Leonard Green, acquired KREWE Anesthesia, a staffing firm specializing in certified registered nurse anesthetists. Go deeper

• Clarendon Capital acquired Elkridge, Md.-based O'Donnell Metal Deck & Bar Joist, in partnership with Ironwood Capital. Go deeper

• Currier Plastics, a Sheridan Capital Partners portfolio company, acquired Sage Product Development, a medical device engineering, design and development provider. Go deeper

• Fisher Management Partners, a Dallas-based management consultant, received a growth equity investment from Trinity Hunt Partners. Go deeper

• Francisco Partners has agreed to buy Moneris, a Canadian fintech joint venture between Royal Bank of Canada and Bank of Montreal, for C$2 billion.

🚑 Gridiron Capital acquired van den Boom & Associates, a San Diego-based provider of outsourced back-office solutions for life sciences companies. Go deeper

• Hightower Advisors agreed to acquire Valley Financial Group, an Ambler, Pa.-based wealth manager with around $275m in AUM. Go deeper

• I Squared Capital agreed to acquire Australian outdoor advertising firm oOh!media (ASX: OML), beating out Bain Capital and Pacific Equity Partners. Go deeper

• Integrated Water Services, an Austin, Texas-based wastewater platform backed by Sciens Water, acquired Advanced Equipment and Services. Go deeper

• Lindsay Goldberg invested in Alro Steel, a Jackson, Mich.-based distributor of metals and performance plastics. alro.com

• Linden Capital paid 15x to 16x EBITDA for pharma marketing business Relevate Health from Mountaingate Capital, per Axios Pro. Go deeper

• Mari, the PE-backed entertainment firm led by Ari Emanuel, agreed to buy British West End and Broadway theater operator ‌ATG Entertainment for from Providence Equity Partners for a reported $6b. Go deeper

• New Heritage Capital invested in PowerRail, an Exeter, Pa.-based maker of aftermarket locomotive parts. Go deeper

🔥 New Mountain Capital agreed to acquire Jensen Hughes, a Columbia, Md.-based fire protection engineering and nuclear risk engineering firm, from Gryphon Investors. Go deeper

• OpenGate Capital agreed to acquire Maersk Training, a provider of safety training and gas safety services, from A.P. Møller - Mærsk. Go deeper

• R&B Wholesale Distributors, a portfolio company of Platinum Equity, acquired Grand Appliance, a Sturtevant, Wis.-based appliances and electronics distributor. Go deeper

• Safe Harbor Marinas, a Blackstone portfolio company, is nearing a $1.5b deal to buy recreational boat and yacht retailer MarineMax (NYSE: HZO), per Reuters. Go deeper

🚑 Sarnova, a Patricia Industries portfolio company, acquired Mercury Medical, a Clearwater, Fla.-based maker of critical care and emergency medical devices. Go deeper

• Second Nature Brands, backed by CapVest Partners, acquired Oregon-based jerky brand Tillamook Country Smoker from Insignia Capital Group. Go deeper

• Thoma Bravo completed its C$650m acquisition of Kneat (TSX: KSI), an Ireland-based digital validation platform. Go deeper

• TPG agreed to buy a 61.2% stake in listed South Korean car rental firm Lotte Rental for $925m. Go deeper

• Velocity FBO Network, backed by Tallvine Partners, acquired SkyPlace FBO, a San Antonio-based fixed base operator services provider for aviation. Go deeper

• Vetspire, an SF-based veterinary software company, received a growth investment from Battery Ventures. Go deeper

• VSS Capital Partners invested in Cordoba, an LA-based provider of engineering, construction and program management services. Go deeper

🚑  Wise Equity acquired a 60% stake in E-pharma Trento, an Italian CDMO. Go deeper

• Wolf-Gordon, a Charger Investment Partners portco making interior surface finishes, acquired Andor Willow, a wood wall panel and room divider maker, and Look Walls & Interiors, a custom wallcovering maker. Go deeper

DOJ antitrust officials are investigating a deal whereby Kone, a Finnish elevator and escalator maker, would buy Germany's TK Elevator for €29.4 billion from Advent International and Cinven. BFD flashback

• ACCO Brands, a Lake Zurich, Ill.-based branded consumer products company, is buying Trust, a Netherlands-based consumer electronics company backed by Egeria. Go deeper

• Core Scientific (Nasdaq: CORZ), an Austin, Texas-based blockchain infrastructure and software company, completed its previously announced $444m acquisition of cryptocurrency mining company Polaris DS from Altair Capital. Go deeper

⚡️ Diversified Energy is in early talks to buy Birch Resources, which is backed by Elliott Investment Management and operates in the Permian Basin. Go deeper

⚽ Fenway Sports Group, whose backers include RedBird Capital Partners, is expected to sell around a one-third stake in Liverpool FC to a consortium that includes Amit Bhatia, Jeff Bezos, and Eduardo Saverin, per Sky News. Go deeper

• Formlabs, a Somerville, Mass.-based 3D printing company valued at $2b in a 2021 round led by SoftBank, is in early IPO talks, per Bloomberg. Go deeper

• Goldman Sachs Asset Management is looking to sell clinical trial software company 4G Clinical, per Axios Pro. Go deeper

• Joby Aviation (NYSE: JOBY) agreed to buy Ohio-based defense contractor Resonant Sciences for $500m in cash ($450m) and stock. Sellers include Cerberus Capital Management. Go deeper

• PSP Investments is weighing a sale of its India toll roads, which could fetch $1.5b, per Bloomberg. Go deeper

• Renovus Capital Partners is exiting Thought Logic Consulting through Braemont Capital's recapitalization of the Atlanta-based enterprise consultancy. Go deeper

• Switch, a Las Vegas data center operator majority-owned by DigitalBridge, filed confidentially for a U.S. IPO, per Bloomberg. Go deeper

• ZPG, backed by Silver Lake, will sell Hometrack, which provides residential property valuation and risk data & analytics in the U.K. and Netherlands, to Providence Equity Partners. Go deeper

• ACV Auctions (NYSE: ACVA), an online car marketplace with around a $1.3b market cap, is exploring a sale, per Bloomberg. Go deeper

• Amkor Technology (Nasdaq: AMKR) is considering a stake sale in its China business, per Bloomberg. Go deeper

• Archer Aviation (NYSE: ACHR) agreed to acquire Wisk Aero, SkyGrid and Insitu from Boeing (NYSE: BA). Go deeper

• Ashland (NYSE: ASH), a U.S. chemicals firm with a $3.5b market cap, is exploring a sale, per Bloomberg. Go deeper

• C&S Wholesale Grocers agreed to buy a majority stake in Winn-Dixie, a Jacksonville, Fla.-based privately held grocery and liquor store chain. Go deeper

• Curaleaf (TSX: CURA) is prepping a $272m hostile takeover bid for rival Aurora Cannabis (TSX: ACB). Go deeper

⚡ Eneos (Tokyo: 5020) acquired Houston-based petrochemicals firm TPC Group for $1.28b (including debt). Go deeper

• Activist investor Engine Capital told H.B. Fuller (NYSE: FUL) that it should run a market check for its building adhesive solutions business and engage with Ancora's more than $1b offer for it. Go deeper

⚡️ Ensign Energy Services, a Canadian oilfield services company, closed its acquisition of Citadel Drilling for $65m. Go deeper

• eToro (Nasdaq: ETOR) agreed to acquire TradeZero, a U.S.-focused online brokerage serving active traders, for up to $231m in cash and stock. Go deeper

• Frasers bought Harvey Nichols, the British luxury department store chain founded in 1831, out of administration. Go deeper

• GameStop (NYSE: GME) "is considering withdrawing" its $56b takeover bid for eBay (Nasdaq: EBAYT), instead proposing a strategic partnership that would include a board seat, per Bloomberg. Go deeper

• Goldman Sachs agreed to acquire NEOS Investments, an ETF manager with $30b in assets, for up to $2.25b. Go deeper

• Hanwha of South Korea made a nonbinding bid of up to a $1.2b for Austal USA, a unit of Australian shipbuilder and defense contractor Austal (ASX: ASB). Go deeper

• Harworth Group (LSE: HWG), a U.K.-based property regeneration company, rejected a £583m takeover bid from its largest shareholder, Peel Holdings. Go deeper

• Mobix Labs is buying Special Project Delivery, a Newport Beach, Calif.-based infrastructure developer focused on national security, critical resources and public-infrastructure finance. Go deeper

• Nasdaq is buying Level Markets, an off-exchange equity execution venue. Go deeper

• National CineMedia (Nasdaq: NCMI) agreed to acquire Captivate, an NYC-based operator of digital video elevator and lobby advertising, for $275m. Go deeper

• OpenAI acquired presentation startup NextSlide. Go deeper

• Semtech, a Camarillo, Calif.-based semiconductor provider, is selling its cellular module business to Compal Electronics for $62m in cash. Go deeper

🚑 Skylight Health, a VC-backed multi-specialty care coordination platform, acquired Saffron Health, a YC-backed referral automation company. Go deeper

• Tabcorp (ASX: TAH) agreed to buy Australian betting tech provider BetMakers (ASX: BET) for A$267m. Go deeper

🚑 Teledyne Technologies (NYSE: TDY) agreed to acquire Varex Imaging (Nasdaq: VREX), a Salt Lake City-based X-ray imaging component maker, for $1.1b. Go deeper

• Uber (NYSE: UBER) divested its remaining stake in Serve Robotics (Nasdaq: SERV), due to strategic differences over deployment. Go deeper

• Volkswagen is preparing to reduce its roughly €16.6b majority stake in truckmaker Traton, as part of its broader cost-cutting effort. Go deeper

• Webtoon Entertainment (Nasdaq: WBTN) agreed to buy a majority stake in Korean gaming studio RI Games for about $100m. Go deeper

• Xylem (NYSE: XYL), a Washington, D.C.-based water technology company, agreed to acquire the Cornell Pump and Roper Pump businesses from Indicor for $1.46b. Go deeper

• 1789 Capital has closed a $1.2b real estate development fund. Go deeper

• Accel raised $3.5b in new funds, including a $1.35b global expansion fund, $800m for a U.S. fund, $800m for a Europe/Israel fund, and $550m for an India fund. Go deeper

• Exponent raised a €750m single-asset CV for H&MV Engineering, an Irish provider of high-voltage engineering and power infrastructure services. Backers include Apollo S3, Pantheon, and SQ Capital. Go deeper

• First Round Capital is raising $325m for its tenth flagship fund, per an SEC filing. firstround.com

• Layer Global, a new firm led by Anton Levy (ex-General Atlantic), held a $1.1b first close on its debut fund. Go deeper

• Adam Kweskin is joining Morgan Stanley's global industrials investment banking group, per Reuters. He was most recently a managing director in BofA's industrials investment banking business. Go deeper

• Duran Curis formed Aviara Partners Capital, which will provide equity capital to independent sponsor-led transactions. He previously was founding partner of Ocean Avenue Capital Partners and, before that, was with Drum Capital Management and HRJ Capital. Go deeper

• Eliza Oshana McGrath joined Tayeh Capital Group as head of IR and capital formation. She previously was with Northern Trust Asset Management. Go deeper

• Jarret Rutstein joined LLCP as an associate director. He previously was with Alvarez & Marsal Capital. Go deeper

• Michael Keeley joined Orrick as global head of capital markets. He previously was with Kirkland & Ellis. Go deeper

• Nik Johnston is joining Morgan Stanley as its new global head of consumer retail M&A, per Due Diligence. Johnston was previously with JPMorgan. Go deeper

• Nick Pacilio will join Thrive's communications team in September. He was Axel Springer's senior vice president, head of U.S. communications. thrivecap.com

• Steven Price, who was FINRA's SVP of market investigations, is joining fintech Finalis as chief compliance officer. Go deeper

M&A deals of the week

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<h2 class="text-h6 !font-sans !font-normal !leading-[1.2em]">Private Equity Buys</h2>• Air Canada is selling a 25% stake in its Aeroplan loyalty program for C$2.5b to Blackstone, Caisse de Dépôt et Placement du Québec, PSP Investments and British Columbia Investment Management Corp. <a class="gtmContentClick" data-vars-link-text="Go deeper" data-vars-click-url="https://axios.link/4bKbzWU" data-vars-content-id="337dcb25-d43a-4ff7-9164-b77870788e3e" data-vars-headline="M&amp;A deals of the week" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://axios.link/4bKbzWU" target="_self">Go deeper</a>• Airo Mechanical, backed by CCMP Growth, acquired Legrande&#x27;s Enterprises, a specialty plumbing and HVAC firm. <a class="gtmContentClick" data-vars-link-text="Go deeper" data-vars-click-url="https://axios.link/4hp0fTG" data-vars-content-id="337dcb25-d43a-4ff7-9164-b77870788e3e" data-vars-headline="M&amp;A deals of the week" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://axios.link/4hp0fTG" target="_self">Go deeper</a>

M&A deals of the week

Private Equity Buys

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