Mergers & Acquisitions

Wabtec To Buy Bloom Engineering In $69 Million Deal

By Amit Chowdhry ● Dec 30, 2024

Wabtec announced it has acquired Bloom Engineering, a leading provider of industrial heating applications. This deal enhances Wabtec’s portfolio of heat transfer and energy solutions, integrating Bloom Engineering’s advanced technologies in burners, combustion systems, and overall services for industrial and process heating applications.

Commure To Buy Digital Care Company Memora Health

By Amit Chowdhry ● Dec 30, 2024

Commure, a leading healthcare technology company, announced the acquisition of Memora Health, a digital care navigation platform. Memora will strengthen Commure's existing AI-based portfolio of patient engagement, clinical documentation, revenue cycle management, and RTLS solutions.

Zebra Technologies To Buy Robotic Vision Company Photoneo

By Amit Chowdhry ● Dec 30, 2024

Zebra Technologies - a leading digital solution provider enabling businesses to connect data, assets, and people intelligently - announced today it plans to acquire Photoneo, a leading developer and manufacturer of 3D machine vision solutions. The 3D segment of the Machine Vision market is the fastest growing, and this acquisition will further accelerate Zebra’s presence in the category.

NeueHealth To Go Private In $1.3 Billion Deal

By Amit Chowdhry ● Dec 27, 2024

Value-driven healthcare company NeueHealth announced that it has entered into a definitive merger agreement pursuant to which the company will be acquired by an affiliate of New Enterprise Associates (NEA) at an enterprise value of approximately $1.3 billion. And upon completion of the deal, NeueHealth will become a privately held company with the flexibility and resources to continue advancing its value-driven, consumer-centric care model.

DoubleU Acquiring Turkey-Based Paxie Games

By Amit Chowdhry ● Dec 27, 2024

DoubleU Games - a leading developer of social casino games - announced it has agreed to buy Turkish gaming studio Paxie Games, which is the developer of Merge Studio: Fashion Makeover. DoubleU Games will buy a 60% stake for $27 million at closing, with the remaining 40% to be acquired over three years, subject to achieving certain financial targets, resulting in full ownership by the end of the third year.

WiSA Technologies Signs Deal To Buy CompuSystems

By Amit Chowdhry ● Dec 27, 2024

WiSA Technologies - which anticipates closing its acquisition of Datavault intellectual property and information technology assets of privately held Data Vault Holdings and changing its name to Datavault on or about December 31, 2024 - announced it has entered into a definitive agreement to acquire privately held CompuSystems, Inc. (CSI), a premier provider of registration, data analytics, and lead management services for live events.

HomeStreet Enters Deal To Sell $990 Million In Multi-Family Loans

By Amit Chowdhry ● Dec 27, 2024

HomeStreet - the parent company of HomeStreet Bank - today announced today that the Bank entered into an agreement to sell to Bank of America, on a servicing retained basis, $990 million of multifamily commercial real estate loans at a price, including the value of the retained servicing, of 92% of the principal balance of the loans. This loan sale is expected to close before December 31, 2024.

USANA Health Sciences Announces Acquisition Of Hiya Health For $205 Million

By Amit Chowdhry ● Dec 27, 2024

USANA Health Sciences announced its acquisition of a 78.8% controlling ownership stake in Hiya Health Products, a leading direct-to-consumer provider of high-quality children’s health & wellness products. The $205 million cash transaction closed on December 23, 2024, and is anticipated to be accretive to USANA’s 2025 adjusted EBITDA. For the last year ended September 30, 2024 (unaudited), Hiya generated net sales of $103 million, net income of $19 million, and adjusted EBITDA of $22 million. As of September 30, 2024, Hiya had over 200,000 customers.

Trane Technologies To Buy BrainBox AI

By Amit Chowdhry ● Dec 27, 2024

Global climate innovator Trane Technologies has signed a definitive agreement to acquire BrainBox AI, a pioneer in autonomous HVAC controls and generative Artificial Intelligence (AI) building technology.

CCC Intelligent Solutions Acquiring EvolutionIQ In $730 Million Deal

By Amit Chowdhry ● Dec 27, 2024

CCC Intelligent Solutions - a leading cloud platform provider powering the P&C insurance economy and a subsidiary of CCC Intelligent Solutions Holdings - announced that it has signed a definitive agreement to acquire EvolutionIQ - the leading platform for AI-powered guidance for disability and injury claims management. And the acquisition expands CCC’s market reach into strategic adjacencies.

Guardian Capital Partners Acquires TEAM LINX

By Amit Chowdhry ● Dec 27, 2024

Guardian Capital Partners - an operationally focused private equity firm focused on control-oriented investments in lower middle-market private companies - announced the acquisition of Team LINX in partnership with the LINX executive management team, which will continue to operate the company.

Cerberus Buying Water Storage Solutions Provider Landmark Structures

By Amit Chowdhry ● Dec 27, 2024

Cerberus Capital Management - a global leader in alternative investing - announced that it has acquired Landmark Structures, a leading full-service provider of water storage solutions in North America.

Elliott Investment Management Buying Majority Interest In American Greetings

By Amit Chowdhry ● Dec 27, 2024

Elliott Investment Management, Clayton, Dubilier & Rice (CD&R), and American Greetings Corporation (AG) announced an agreement under which Elliott will purchase a majority ownership stake in American Greetings. The terms of the deal were not disclosed.

CAPTRUST Buys Campbell Wealth And TruNorth, Adding $1.97 Billion In Assets

By Amit Chowdhry ● Dec 27, 2024

CAPTRUST Financial Advisors announced the addition of Campbell Wealth Management in Alexandria, Virginia, and TruNorth Wealth Partners in St. Paul, Minnesota. Combined these teams bring $1.97 billion in assets.

Raymond James Onboards $995 Million Advisor Team

By Amit Chowdhry ● Dec 27, 2024

Raymond James & Associates’ Mid-American regional director, Amy Smart, announced that the firm recently welcomed financial advisors Adam Ours, John Koch, and Padma Jambunath to the firm’s employee advisor channel in Cleveland, Ohio. The team includes senior client relationship manager Jeffrey Danzinger, senior registered client relationship associate Sasha Delic-Milanovic, and senior client service associate Betsy Margolin. They come from Merrill Lynch, where they managed approximately $995 million in client assets and will operate as part of RJA’s Cleveland Beachwood branch.

News Corp To Sell Foxtel To DAZN In A$3.4 Billion Deal

By Amit Chowdhry ● Dec 27, 2024

News Corporation announced it has entered into a definitive agreement to sell Foxtel Group to DAZN Group Limited, a premier global sports streaming platform. Under the terms of the deal, shareholder loans for A$578 million outstanding and owing to News Corp will be repaid in full in cash at closing.

Fiserv Acquiring Payfare In $140 Million Deal

By Amit Chowdhry ● Dec 27, 2024

Fiserv - a leading global provider of payments and financial services technology - announced it has entered into a definitive agreement to acquire Payfare, a provider of program management solutions with a focus on new economy workforces. The deal is subject to obtaining shareholder and court approvals and other customary closing conditions and is expected to close in the first half of 2025.

Morgan Stanley Real Estate Investing Buys Brightview’s Senior Living Portfolio

By Amit Chowdhry ● Dec 27, 2024

Morgan Stanley Investment Management—through investment funds managed by Morgan Stanley Real Estate Investing (MSREI)—announced it partnered with Brightview Senior Living to buy a portfolio of eight premium senior housing communities from Harrison Street. Harrison Street is one of the leading investment management firms exclusively focused on alternative real assets, with about $56 billion in assets under management.

Commonwealth Onboards Two Long Island Affiliates With Over $495 Million In Client Assets

By Amit Chowdhry ● Dec 27, 2024

Commonwealth Financial Network, a national RIA dedicated to offering financial advisors with integrated business solutions, announced it welcomed two Jericho, New York-based independent advisory firms previously affiliated with Securities America (now Osaic) and collectively reported more than $495 million in client assets.

Third Point Acquires Diversified Alternative Credit Fund Manager AS Birch Grove

By Amit Chowdhry ● Dec 26, 2024

Third Point, an alternative investment manager with $12 billion of assets, announced that it has entered into a definitive agreement to acquire AS Birch Grove LP, a diversified alternative credit fund manager. And upon the completion of the deal, American Securities will no longer be an owner of Birch Grove, which will become a subsidiary of Third Point.

Prosus To Buy Online Travel Agency Despegar For $1.7 Billion

By Amit Chowdhry ● Dec 26, 2024

Prosus announced that it entered into a definitive agreement to buy Despegar, a leading Latin American Online Travel Agency (OTA), for $19.50 per share, equivalent to a 33% premium to the closing share price as of 20 December 2024, and a 34% premium to Despegar’s 90-day VWAP (volume weighted average price). The proposed deal was approved by Despegar’s board of directors, who recommended that Despegar shareholders vote in favor of the proposed transaction following the unanimous recommendation by a transaction committee.

Orion To Buy Summit Wealth Systems

By Amit Chowdhry ● Dec 26, 2024

Orion, a provider of transformative wealth-technology solutions for financial advisors and the enterprise firms that serve them, announced a definitive agreement to acquire advisor technology provider Summit Wealth Systems. When the deal closes in early 2025, Summit’s CEO, Reed Colley, will join Orion as President of Orion Advisor Technology, reporting to Orion CEO Natalie Wolfsen.

MetLife Buying PineBridge Investments In $1.2 Billion Deal

By Amit Chowdhry ● Dec 26, 2024

MetLife Investment Management (MIM) - MetLife's institutional asset management business - announced that it has reached a definitive agreement to acquire PineBridge Investments, a global asset manager with about $100 billion in assets under management, from the Pacific Century Group.

Summit Financial Acquires Minority Stake In Gordon Asset Management

By Amit Chowdhry ● Dec 23, 2024

Summit Financial, an advisory firm with over 40 years of experience providing multi-family office services that empower financial advisors to accelerate growth, announced that Gordon Asset Management has joined its network. Summit’s innovative partnership model Summit Growth Partners (SGP) has strategically invested in Gordon, marking its 18th strategic investment this year. Gordon will now have access to Summit's expansive network and comprehensive resources, including a wide range of investment strategies and alternative opportunities.

Waverly Advisors Buying Planning Capital Management, Increasing AUM To About $15.9 Billion

By Amit Chowdhry ● Dec 23, 2024

Waverly Advisors, a federally registered investment adviser (RIA) specializing in investment management, financial planning, and wealth management solutions for a diverse group of high-net-worth individuals, corporate retirement plans, and institutional clients, has acquired Planning Capital Management, an investment advisory firm based in Paoli, Pennsylvania. This partnership establishes Waverly’s presence in the greater Philadelphia area.

Savant Acquires $536 Million RIA Source Financial Advisors

By Amit Chowdhry ● Dec 23, 2024

Savant Wealth Management, a fee-only registered investment adviser (RIA), announced the acquisition of woman-owned Source Financial Advisors - a New York, NY-based boutique RIA with $536 million in assets under management. Savant did not disclose the terms of the deal.

Merit Acquires Roth Asset Management, Increasing Assets By $773 Million

By Amit Chowdhry ● Dec 23, 2024

Merit Financial Advisors - a Georgia-based financial advisory firm specializing in financial planning and wealth management solutions for high-net-worth individuals, families, and those navigating life transitions - announced it had acquired Roth Asset Management. This deal will expand Merit's presence in the Pacific Northwest and increase assets by $773 million.

Nordstrom Being Taken Private In $6.25 Billion Deal

By Amit Chowdhry ● Dec 23, 2024

Nordstrom announced it has signed a definitive agreement under which Erik, Pete, Jamie Nordstrom and other members of the Nordstrom family and El Puerto de Liverpool will acquire all of the outstanding common shares of Nordstrom not already beneficially owned by the Nordstrom Family and Liverpool in an all-cash transaction valued at about $6.25 billion on an enterprise basis. Following the closing of the deal, the Nordstrom Family will have a majority ownership stake in the company.

Xerox To Buy Lexmark In $1.5 Billion Deal

By Amit Chowdhry ● Dec 23, 2024

Xerox has agreed to acquire Kentucky-based Lexmark International from Ninestar Corporation, PAG Asia Capital, and Shanghai Shouda Investment Centre in a deal valued at $1.5 billion, including assumed liabilities. Xerox expects to finance the acquisition with cash and committed debt financing.

LPL Brings In $540 Prestige Wealth Group Team

By Amit Chowdhry ● Dec 22, 2024

LPL Financial announced that the Prestige Wealth Group (PWG) advisors, led by managing partners Rich Galgano, CFP, and Matt Geraci, CFP, have joined LPL Financial’s broker-dealer, RIA, and custodial platforms. They reported serving about $540 million in advisory, brokerage, and retirement plan assets and joined LPL from Osaic.