Today's Private Equity Pulse
Blackstone launches its biggest Asia private‑equity fund at $13.1 billion
Blackstone announced the closing of a $13.1 billion fund, its largest ever dedicated to Asian private‑equity investments. The fund aims to back buyouts and growth‑capital deals across the region, underscoring Blackstone’s expanding focus on Asia’s mid‑market opportunities.
Also developing:
By the numbers: Toms Capital acquires significant stake in McCormick
Skechers Raises Settlement Proposal in Delaware Buyout Dispute with Hedge Funds
Skechers USA has raised its settlement offer to $65 per share, two dollars above the original $63 price paid in the $9.4 bn take‑private deal with 3G Capital. The increase follows a failed $64‑per‑share proposal and aims to resolve an appraisal‑arbitrage lawsuit filed by hedge funds and institutional investors holding roughly $1.3 bn of Skechers stock. The Delaware dispute, still in its early stages, could become one of the largest appraisal actions in recent years. Hudson Bay Capital Management has already settled, trimming the claimant pool.
Mott MacDonald to Buy Leed
Mott MacDonald announced the acquisition of Leed, a 350‑person Australian engineering and construction firm specializing in water‑related infrastructure. The deal creates a fully integrated design‑and‑build team that combines Mott’s global engineering expertise with Leed’s local project delivery capabilities. Leed’s portfolio includes...
![[Acquisition Completed] Allegiant & Sun Country Announce Plan To Merge In $1.5 Billion Deal](/cdn-cgi/image/width=1200,quality=75,format=auto,fit=cover/https://www.doctorofcredit.com/wp-content/uploads/2016/01/bofa-allegiant-air.png)
[Acquisition Completed] Allegiant & Sun Country Announce Plan To Merge In $1.5 Billion Deal
Allegiant Air has completed a $1.5 billion acquisition of Sun Country Airlines, creating the largest U.S. leisure‑focused carrier. The deal values Sun Country at $18.89 per share, paid with a mix of cash and Allegiant stock (0.1557 shares per Sun Country...
Leveraged Loan Insight & Analysis – 5/11/2026
Technology‑focused leveraged loans have risen in price over the past year, yet they continue to trade at a discount relative to the broader secondary loan market. Investors are reassessing exposure to software firms amid growing concerns that artificial‑intelligence breakthroughs could...
Keyera Closes $5.3 B Acquisition of Plains’ Canadian NGL Business Amid Competition Review
Keyera Corp. has completed its $5.3 billion acquisition of Plains' Canadian natural‑gas liquids (NGL) business, despite a Competition Commissioner filing that could lead to a Tribunal review. The deal expands Keyera's integrated NGL platform and is funded in part by a...
Xpeng in Talks to Buy VW Plant for Europe Expansion
Xpeng (NYSE:XPEV) is in advanced talks with Volkswagen to acquire a European manufacturing plant as it seeks to scale beyond its contract‑produced capacity at Magna Steyr in Austria. The Chinese EV maker’s exports surged 62% in April, reaching 6,006 vehicles, underscoring...
H.I.G. Capital Moves to Build European OHS Giant with Vitaly Acquisition
H.I.G. Capital announced that its portfolio company Avanta Salud Integral will acquire Vitaly Group, a leading occupational health and safety provider in Spain and Portugal. The combined platform will serve more than 240,000 clients and roughly 4 million protected workers, positioning...
HireQuest Offers $105 Million Cash Deal to TrueBlue for On‑Demand Staffing Unit
HireQuest, Inc. has presented a $105 million all‑cash offer to TrueBlue’s board to purchase the on‑demand portion of the People‑Ready segment. The proposal, valued at $3.45 per TrueBlue share, follows two rejected offers in 2025 and could reshape staffing‑industry valuations and...
NEC Finalizes CSG Buy
NEC Corporation completed its $2.9 billion acquisition of telecom‑software provider CSG on Thursday, finalizing a deal first announced in October. The merger creates a global software entity with expanded capabilities in customer engagement, monetization, operations, AI‑driven automation and cloud‑native platforms. NEC...
Blackstone and Halliburton Commit $1 Billion to VoltaGrid, Back Its Propell Energy Acquisition
Blackstone Tactical Opportunities and Halliburton have jointly invested $1 billion in Houston‑based VoltaGrid, comprising a $775 million primary raise and a $225 million secondary purchase. The funding coincides with VoltaGrid’s definitive agreement to acquire Propell Energy Technology Ltd., a move aimed at securing...
Evergreen's HoldCo Drives 100+ Tech Acquisitions
For those curious about Evergreen’s operating groups, this is from their presentation at the serial acquirers conference in Stockholm: HoldCo level - 45 people focused on M&A, talent and finance LYRA - Technology MSP for SMBs Launched 2017 100+ acquisitions $1B+ revenue PINE - Could ERP...
Blackstone Abandons $4 B New
Blackstone has walked away from a proposed $4 billion tie-up with New World after the embattled property developer refused to hand over the reins https://t.co/Ln1vSdw95V
Private Equity Took a Big Bite Out of Grant Thornton UK Profits
Grant Thornton UK’s first year under Cinven’s private‑equity ownership saw pre‑tax profit plunge 78% to £32 million ($43 million), even as revenue rose 4% to £787.1 million ($1.06 billion). The decline was driven by £156.4 million ($211 million) in one‑off bonuses and £26.2 million ($35 million) in deal‑related...
Audax Private Equity Marks 1,500 Add‑On Acquisitions, Highlighting Buy‑Build Dominance
Audax Private Equity announced the completion of its 1,500th add‑on acquisition – FCH’s purchase of Sanitary Solutions Group on April 14, 2026. The milestone showcases the firm’s systematic buy‑build model and its position among the most active U.S. acquirers.
EBay Board Rejects GameStop’s $56 B Unsolicited Takeover Offer
eBay’s board, led by Chairman Paul Pressler, turned down GameStop CEO Ryan Cohen’s unsolicited $56 billion offer to acquire the online marketplace. The rejection hinges on concerns over financing, leverage and the combined entity’s governance, setting the stage for a possible shareholder‑direct...
Warner Bros. Discovery Ad Presidents Downplay Paramount Merger Impact on Upfronts: ‘Been Through Change and Challenges Before’
Warner Bros. Discovery’s co‑ad presidents Ryan Gould and Robert Voltaggio used Wednesday’s upfront to reassure advertisers that the pending $110 billion merger with Paramount will not disrupt ad inventory or pricing. They emphasized the company’s history of navigating industry change and...
BYD Looks to Acquire Third EU Plant, Stellantis on Shortlist
Chinese EV maker BYD is negotiating to acquire one or more under‑utilised European factories, with Italy’s Stellantis sites topping its shortlist. The move would complement BYD’s newly announced plants in Hungary and Turkey, both slated for mass production in late...
Brown-Forman Rejects $15bn Buyout Offer From Rival Sazerac, Source Says
Brown‑Forman turned down Sazerac’s $15 bn cash offer (≈$13.9 bn in euros) of $32 per share, after earlier talks with Pernod Ricard collapsed. The Brown family favored Pernod Ricard’s stock‑centric merger, which would let them retain influence, whereas Sazerac’s proposal required full cash payment...
An Immediate Step up on Long-Term Growth Plans: Behind the Lazard CL Tie-Up
Investment bank Lazard has agreed to acquire private‑markets advisory firm Campbell Lutyens, creating a larger platform for secondary‑market transactions. The deal, valued at roughly $1.5 billion, will be financed with cash and Lazard stock and is expected to close later this...
Lone Star Funds Completes Acquisition of DOMO Engineered Materials, Bolstering Industrial Portfolio
Lone Star Funds announced the completion of its acquisition of DOMO Engineered Materials, a division of Italy's DOMO Group. The deal adds a global polyamide specialist to Lone Star’s newly formed industrial platform that already includes RadiciGroup, expanding its reach...
Breeze Acquisition Corp. II Raises $125 Million in SPAC IPO to Fund Future Deals
Breeze Acquisition Corp. II priced a 12.5 million‑unit IPO at $10 per unit, generating $125 million of capital for future merger activity. The units, each comprising an ordinary share and a convertible right, will begin trading on Nasdaq on May 13 under the...
India’s Pharma Industry Is Going Global. But Can It Catch up to China?
Sun Pharma’s $11.75 billion purchase of Organon is designed to lift the Indian giant into the global top‑25 drugmakers, targeting combined revenues of about $12.5 billion and a footprint in 150 countries by early 2027. The deal underscores India’s broader push to...
Argosy Exits Aerospace MRO Specialist InTech Aerospace
Argosy Private Equity has completed its exit from InTech Aerospace, a Houston‑based FAA Part 145 repair station that focuses on aircraft interior refurbishment for commercial and military fleets. During Argosy’s ownership, alongside co‑investor Azalea Capital, the firm bolstered operational capabilities...
Lab Testing Group Intertek to Back £10.6bn Takeover by Swedish Firm EQT
Intertek, the FTSE 100 laboratory testing group, announced it is "minded to recommend" a £60‑a‑share ($77) takeover bid from Swedish private‑equity firm EQT, valuing the company at £10.6 bn ($13.6 bn) including debt. The offer follows three earlier proposals and sparked a 7%...
Peltz’s Trian Explores Funding for Potential Wendy’s Take-Private Deal
Activist firm Trian Fund Management, led by Nelson Peltz, is courting external financiers to mount a potential take‑private of Wendy’s Company, valued at roughly $1.3 billion. The search includes Middle‑East co‑investors as Trian explores financing structures for the deal. Wendy’s has...
American Securities Exits CPM Holdings in $2.1 B Sale to Rosebank Industries
American Securities LLC finalized the sale of CPM Holdings, a leader in engineered process equipment, to Rosebank Industries plc for roughly $2.1 billion. The deal caps a eight‑year investment that grew CPM’s renewable‑energy footprint and aftermarket revenue, while giving Rosebank a...
BuzzFeed Shares Surge 113% as Allen Family Digital Takes Majority Stake for $120 Million
BuzzFeed’s stock jumped 113% after Allen Family Digital agreed to purchase a 52% controlling stake for $120 million, appointing media entrepreneur Byron Allen as chairman and CEO while founder Jonah Peretti moves to lead BuzzFeed AI. The deal, structured with $20 million...
Blackstone Preps for Third Core Buyout Fund
Blackstone is preparing a third vintage of its long‑duration core private equity fund, with investor discussions already underway ahead of a formal capital raise later this year. The new vehicle will likely target eight to ten portfolio companies, committing roughly...
EQT Lines up Qatari Backing Ahead of VW Marine Engines Business Binding Bid
Private equity firm EQT is forming a consortium with Qatar Investment Authority (QIA) and Porsche Automobil Holding to submit a binding offer for Volkswagen’s marine‑engine unit Everllence. The deal could value the business at more than €8 billion (about $8.7 billion), positioning...
Mubadala’s Zouhir Regragui: Supply-Demand Imbalances Driving Capital Allocation; Breakthrough for EQT on Intertek Take-Private
Private equity firm EQT is pursuing a take‑private transaction for Intertek, the London‑listed provider of testing, inspection and certification services. The deal, valued at roughly $10 billion, would take Intertek private and expand EQT’s footprint in high‑growth, recurring‑revenue businesses. Mubadala’s chief...
BYD in Talks with Stellantis and Other Carmakers to Take over Underutilized European Factories
BYD is in talks with Stellantis and other European automakers to acquire under‑utilized factories, especially in Italy and Spain. The company prefers sole ownership rather than joint ventures, aiming to quickly expand its European production base. The discussions coincide with...
Apollo to Privatize Emerald in $1.5B B2B Deal
Apollo to take Emerald private in $1.5bn B2B events tie-up with Questex Read the full story here: https://t.co/wsXsMei8vC https://t.co/x38jthVU4u
BrandAlley Explores Potential Sale of Business
British off‑price e‑tailer BrandAlley is exploring strategic options that may involve a partial or full sale of the business. The company has engaged restructuring firm Interpath after initially considering a debt raise, and is seeking a new investment partner to...
Brookfield Bancshares to Acquire NSTS Bancorp for $73.7 Million
Brookfield Bancshares announced a definitive agreement to acquire NSTS Bancorp for $73.7 million, paying $14.28 per share—a 12.9% premium to the prior close. NSTS, the holding company of North Shore Trust and Savings, brings $266.6 million in assets and a portfolio of...
Wednesday Briefing: Sergio Ramos-Led Group Reach €444 Million Sevilla Acquisition Agreement
A consortium fronted by former Real Madrid defender Sergio Ramos has reached a €444 million (≈$475 million) agreement in principle to acquire LaLiga club Sevilla. The group, backed by investment fund Five Eleven, entered a three‑month exclusivity period in January and completed...
White & Case Discusses Regulatory Termination Fee Insurance
White & Case outlines the rise of regulatory termination fee (RTF) insurance, a new product that lets buyers shift all or part of their RTF liability to an insurer. Premiums typically run 0.15%‑1.6% of the target’s enterprise value, and insurers...
Carlyle, Yum China Among Bidders for Jardines’ Asian KFC, Pizza Hut Business
Jardine Matheson’s restaurant arm, which runs about 1,000 KFC and Pizza Hut outlets in Hong Kong, Taiwan, Macau, Myanmar, and Vietnam, is up for sale. Carlyle Group, Yum China, and Taiwan’s Uni‑President have submitted non‑binding bids, with the transaction expected...
Stonebrook Private Inc. Takes $15.2 Million Stake in iShares International Country Rotation ETF
Stonebrook Private Inc. disclosed a new $15.20 million holding of 472,627 shares in the iShares International Country Rotation Active ETF (CORO). The purchase represents 3.24% of the fund’s reportable AUM and signals a move toward active, country‑rotation strategies for international diversification.
Roche to Acquire PathAI in Up‑to‑$1 B AI Cancer‑Diagnostics Deal
Roche announced on May 1, 2026 that it will acquire U.S. digital‑pathology firm PathAI in a transaction valued at up to $1 billion. The move deepens Roche’s investment in artificial‑intelligence tools for cancer testing and positions the group to compete for...
KIC Ventures CFO Aditya Humad Steps Down to Lead AI‑Focused Investment Strategy
KIC announced that Aditya Humad will relinquish his President and CFO roles at KIC Ventures effective immediately, moving to a firm‑wide focus on investment strategy, capital formation and artificial‑intelligence projects. The change follows a 20‑year partnership with founder Dr. Kingsley...
Apollo to Merge Emerald and Questex in $1.5 B Deal, Forming Top North American Live‑Events Operator
Apollo Global Management announced a $1.5 billion acquisition of Emerald and a merger with Questex, creating a live‑events powerhouse that will run more than 160 trade shows across North America. The deal, which values Emerald at a 42% premium, is slated...
Goldman Sachs Alternatives Acquires FGI Worldwide to Boost Private‑Market Financing
Goldman Sachs Alternatives has finalized the purchase of FGI Worldwide, a 25‑year‑old specialist in working‑capital financing and trade‑credit insurance. The deal places FGI under the leadership of co‑founder Sami Altaher as CEO and gives Goldman Sachs a broader foothold in...
Salem Media Going Private in Acquisition by WaterStone
Salem Media, the Texas‑based owner of 62 radio stations and a network reaching about 2,400 affiliates, agreed to be taken private by the WaterStone foundation. The deal values the 31.8 million outstanding shares at $1.00 each, a roughly 250% premium to...
AI Roll‑up Turns CapEx Into Real Economic Growth
the AI roll-up is only getting started Long Lake CEO @alextaubman has bought 30+ real-economy, non-tech companies and just took the largest corporate travel platform private (Amex GBT, $6.3B) its a bet that AI can better transform legacy industries and that someone...
Anthropic Eyes Acquisition of AI Developer Tools Startup
Anthropic in Talks to Buy Developer Tools Startup Used by OpenAI, Google — The Information https://t.co/gBxxZD7zA5
Private‑Equity‑Backed I‑Ready Draws Nationwide Backlash From Parents, Teachers and Students
Curriculum Associates' i‑Ready, the private‑equity‑backed education platform that reaches nearly 14 million U.S. students, is under fire from parents, teachers and students who call it boring, time‑consuming and of unproven impact. The backlash has prompted audits in districts like Los Angeles...
Inspire Brands Files IPO for Dunkin', Aiming to Repay $8.8B Acquisition Debt
Inspire Brands, the private‑equity‑backed parent of Dunkin', has filed a confidential registration statement to take the coffee‑and‑donut chain public for the third time. The filing follows the 2020 $8.8 billion purchase of Dunkin' and a $2.5 billion debt assumption, with proceeds expected...
VCs Eye Clinical‑Stage Assets as Biotech Podcast Highlights Investment Playbook
A fresh podcast series hosted by Jeffrey Snyder features Dr. Andrew Snyder of Monash University, who outlines the criteria VCs use to evaluate biotech startups. The discussion flags a surge in IPOs, M&A and a premium on clinical‑stage assets, while...
Jack Daniel’s Maker Brown-Forman Rejects $15 Billion Takeover Offer From Sazerac
Brown-Forman, the parent of Jack Daniel’s, turned down Sazerac’s $15 billion cash offer, equivalent to $32 per share. The bid, made by the New Orleans‑based spirits group, would have merged two of the largest U.S. whiskey producers. Brown‑Forman’s board, dominated by...
Long Lake Executes First AI‑Driven $6.3B Take‑Private
Long Lake did the world's first (to my knowledge) AI-driven take private of a public company -$6.3B acquisition -100 year old Amex Global Business travel -Plan to transform it with AI Spoke w CEO Alex Taubman on @NoPriorsPod about it in his first...