Private equity firm Blackstone is in discussions with banks for a five-year loan of about AUD5.5bn ($3.7bn) to back its bid for Australian data center operator AirTrunk, Bloomberg reported. The financing, which is expected to be raised at the holding company level, would be comprised of a AUD2bn ($1.35bn) term loan and a AUD3.5bn ($2.37bn) revolving credit facility. #MergersAcquisitionsDivestitures #PrivateEquity #Debt
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Apollo Global Management, Inc. and BlackRock are in talks to provide new debt financing for the merger of two Amazon aggregators, Bloomberg reported. The proposed deal continues an ongoing consolidation of such companies, which raised billions of dollars and snapped up brands sold on Amazon.com, only to watch the pandemic-era e-commerce boom fizzle. #MergersAcquisitionsDivestitures #PrivateEquity #Debt
Apollo, BlackRock in Talks to Help Two Amazon Aggregators Merge
bloomberg.com
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Cognizant, an information technology services and consulting company, completed the acquisition of Belcan, a global supplier of engineering, supply chain, technical recruiting, and information technology services, from AE Industrial Partners, LP, a private equity firm, for $1.3bn. "We are delighted to officially welcome Belcan to Cognizant. We believe our combined capabilities, shared focus of providing value to our clients through distinctive technological expertise, and global scale and scope means we will be able to deliver high-quality solutions to a diverse mix of customers around the world," Ravi Kumar S., Cognizant CEO. Cognizant (led by Ravi Kumar) was advised by Perella Weinberg, Arnold & Porter, and Stikeman Elliott LLP (led by Amanda Linett). Belcan (led by Lance Kwasniewski) was advised by Jefferies, Solomon Partners, and Kirkland & Ellis. #MergersAcquisitionsDivestitures #PrivateEquity #Technology
Cognizant to acquire Belcan from AE Industrial Partners for $1.3bn.
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The Carlyle Group-backed StandardAero, a provider of services including engine and airframe maintenance, repair and overhaul, completed the acquisition of Aero Turbine, Inc., a provider of maintenance, repair, and overhaul services, from Gallant Capital, an investment firm. Financial terms were not disclosed. "Gallant partnered with Aero Turbine’s founder, Doug Clayton, and its CEO, Jim Simpkins, to transform the business into an industry leading defense MRO. The successful implementation of Gallant’s value creation playbook, OTXTM, allowed Aero Turbine to dramatically increase its capacity and capabilities, in order to expand its addressable market, and achieve significant revenue growth," Gallant Capital. Gallant Capital was advised by Lincoln International and Stradling Yocca Carlson & Rauth LLP. #MergersAcquisitionsDivestitures #PrivateEquity #Aerospace
Carlyle-backed StandardAero completed the acquisition of Aero Turbine from Gallant Capital.
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McKesson, a company that distributes pharmaceuticals and provides health information technology, agreed to acquire a 70% stake in The US Oncology Network, a business and administrative services organization, from Florida Cancer Specialists & Research Institute, an independent medical oncology practice, for $2.49bn. “This milestone marks an important step forward in our efforts to advance community-based oncology care. By growing our Oncology platform, we will bring advanced treatments and improved care experiences to patients, while also reducing the overall cost of care. FCS and Core Ventures’ expertise and patient-first approach align with our commitment to accelerating clinical development, improving patient outcomes, and expanding access to quality cancer care in the community. We are also pleased to welcome Florida Cancer Specialists & Research Institute to The US Oncology Network, reinforcing our dedication to empowering community-based providers to independently thrive in today’s rapidly evolving healthcare landscape,” Brian Tyler, McKesson CEO. The US Oncology Network (led by Nathan H. Walcker and Lucio N. Gordan, MD) is advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP (led by Krishna Veeraraghavan and Cullen Sinclair). McKesson (led by Brian Tyler) is advised by Davis Polk & Wardwell LLP (led by Alan Denenberg, Veronica Wissel, and Patrick Sigmon). Florida Cancer Specialists & Research Institute is advised by J.P. Morgan. #MergersAcquisitionsDivestitures #Health #Healthcare
McKesson to acquire a 70% stake in Community Oncology Revitalization Enterprise Ventures from Florida Cancer Specialists & Research Institute for $2.49bn.
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Circana, an advisor on the complexity of consumer behavior, agreed to acquire NCSolutions, the joint venture between Nielsen and Catalina USA that improves advertising effectiveness, and Marketing Mix Modeling Business from Nielsen, an information, data and market measurement firm, and Catalina USA, a company specialising in shopper intelligence and precisely targeted in-store. Financial terms were not disclosed. “We are excited to welcome NCSolutions and Nielsen’s Marketing Mix Modeling business to Circana to expand and enhance our media capabilities for our clients. Both businesses have incredible expertise, solutions, and clients that, when combined with Circana’s data and technology assets, will fuel clients’ growth," Kirk Perry, Circana President and CEO. Circana (led by Kirk Perry) is advised by Dentons and Simpson Thacher & Bartlett LLP. Nielsen (led by Karthik Rao) is advised by Bank of America, Morgan Stanley, Baker McKenzie, DLA Piper and Gibson Dunn. Catalina (led by Kevin Hunter) is advised by Weil, Gotshal & Manges LLP (led by Mike Lubowitz). #MergersAcquisitionsDivestitures #Marketing #DigitalMarketing
Circana to acquire NCSolutions and Marketing Mix Modeling Business from Nielsen and Catalina.
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Welcome to MergerLinks Daily Review, your daily dose of M&A news before your morning coffee. Subscribe now and never miss a beat with MergerLinks. Lawyers mentioned: Krishna Veeraraghavan and Cullen Sinclair. PR mentioned: Samantha Cohen Gaspar and Peter Block. #MergersandAcquisitions #FinancialServices #Corporate
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Hedge-fund billionaire Paul Marshall is nearing a deal to acquire Britain’s The Spectator magazine for more than $131m, as the would-be media mogul seeks to expand his roster of news outlets, WSJ reported. The deal, if completed, could be announced as soon as August 27. Monday is a public holiday in England. Ongoing talks to complete the deal could also delay any announcement. #MergersAcquisitionsDivestitures #Publisher #News
Exclusive | Billionaire Paul Marshall Nears Deal to Buy Britain’s Spectator Magazine for Over $131 Million
wsj.com
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A group of lenders set to take over Red Lobster have tapped a recent chief executive of Asian restaurant chain P.F. Chang's’s to run the struggling seafood restaurant brand, WSJ reported. Damola Adamolekun, most recently a partner at private-equity firm Garnett Station Partners, would take over as Red Lobster’s CEO pending final court approval of the chain’s sale, which is scheduled for next month. #MergersAcquisitionsDivestitures #PrivateEquity #Restaurants
Red Lobster set to bring on former P.F. Chang’s leader as CEO. (FS, People)
wsj.com
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The venture capital group G Squared has raised $1.1bn for its latest fund to capitalise on growing investor demand for its strategy of buying pre-existing stakes in start-ups, FT reported. Founded in 2011 and based in Chicago, G Squared has backed technology groups such as artificial intelligence company Anthropic and cyber security specialist Wiz. #MergersAcquisitionsDivestitures #PrivateEquity #Technology
Venture group G Squared raises $1bn to invest in discounted start-up shares. (FS)
ft.com