Mergers & Acquisitions

Gilead Sciences Completes Deal To Buy CymaBay For $4.3 Billion

By Amit Chowdhry ● Mar 25, 2024

Gilead Sciences has announced the completion of the deal to acquire CymaBay Therapeutics for approximately $4.3 billion in total equity value.

Novo Nordisk Acquiring Cardior Pharmaceuticals For Up To €1.025 Billion

By Amit Chowdhry ● Mar 25, 2024

Novo Nordisk and Cardior Pharmaceuticals announced today that Novo Nordisk has agreed to acquire Cardior for up to €1.025 billion, including an upfront payment and additional payments if specific development and commercial milestones are achieved.

AbbVie Buying Landos Biopharma In $137.5 Million Deal

By Amit Chowdhry ● Mar 25, 2024

AbbVie and Landos Biopharma announced a deal under which AbbVie will acquire Landos, a clinical-stage biopharmaceutical company focused on developing novel, oral therapeutics for patients with autoimmune diseases. Landos' lead investigational asset is NX-13, which is an oral NLRX1 agonist (a member of the NOD-like receptor family) with a bimodal mechanism of action (MOA). It is anti-inflammatory and facilitates epithelial repair.

Ingersoll Rand Buying ILC Dover For About $2.33 Billion

By Amit Chowdhry ● Mar 25, 2024

Ingersoll Rand (a provider of mission-critical flow creation and industrial solutions) announced it has agreed to acquire ILC Dover from New Mountain Capital, a leading growth-oriented investment firm with about $50 billion in assets under management. This deal includes an upfront cash purchase price of approximately $2.325 billion and an earnout linked to the achievement of select operating efficiency metrics in 2024. And at the maximum payout, the earnout increases the 17x upfront purchase multiple by less than one turn.

Waud Capital Partners Acquiring Senior Helpers

By Amit Chowdhry ● Mar 25, 2024

Waud Capital Partners (a growth-oriented middle-market private equity firm) announced the acquisition of Maryland-based Senior Helpers, one of the national leaders in home care and wellness offerings for seniors. Waud Capital is buying Senior Helpers from Advocate Health.

BharCap Partners Buying Red Oak Inventory Finance

By Amit Chowdhry ● Mar 25, 2024

BharCap Partners, a Greenwich, CT-based private investment firm focused on the financial services sector, announced the successful carve-out and acquisition of Red Oak Inventory Finance from ECN Capital. Red Oak Inventory Finance is a commercial lender focused on delivering floorplan finance solutions to manufacturers and dealers across diverse asset classes.

KKR Acquires Majority Stake In Avantus

By Amit Chowdhry ● Mar 24, 2024

Global investment firm KKR announced the signing of a definitive agreement under which investment funds and accounts managed by KKR agreed to acquire a majority stake in Avantus, a premier U.S. developer of large utility-scale solar and solar-plus-storage projects. Following the closing of the deal, KKR and existing investor EIG, a leading institutional investor in the global energy and infrastructure sectors, will be the sole equity investors in Avantus.

Clarivate Buys Majority Of MotionHall Assets

By Amit Chowdhry ● Mar 24, 2024

Transformative intelligence company Clarivate announced an agreement to buy a substantial majority of the assets of MotionHall, an AI-based company serving the life sciences industry.

Alight Selling Professional Services And Payroll Services For Up To $1.2 Billion

By Amit Chowdhry ● Mar 22, 2024

Alight (a leading cloud-based human capital technology and services provider) signed a definitive agreement to sell its Professional Services segment and its Payroll & HCM Outsourcing businesses within the Employer Solutions segment to an affiliate of H.I.G. Capital for up to $1.2 billion. This deal values the Payroll & Professional Services business at a multiple of approximately ten times its estimated 2023 adjusted EBITDA and 24 times its estimated unlevered free cash flow.

Outdoor Digital Navigation Company onX Acquires TroutRoutes

By Amit Chowdhry ● Mar 22, 2024

Outdoor digital navigation company OnX announced the acquisition of TroutRoutes, a leading mapping resource for fly fishing enthusiasts. By integrating TroutRoutes into its portfolio, onX gains momentum as it enters a new market this spring with the upcoming launch of its newest app onX Fish. TroutRoutes and onX Fish will address the needs of 45.8 million freshwater anglers across the United States.

Precise Systems Acquires Jardon & Howard Technologies (JHT)

By Amit Chowdhry ● Mar 21, 2024

Precise Systems (a portfolio company of Bluestone Investment Partners) announced the acquisition of Orlando, Florida-based Jardon & Howard Technologies (JHT) in a deal that closed on February 16, 2024. JHT is a leading provider of advanced training and simulation solutions for clients across the Department of Defense, including the Army, Navy, and other agencies throughout the federal government.

JumpCloud Buys SaaS Security Company Resmo

By Amit Chowdhry ● Mar 21, 2024

JumpCloud announced it acquired Resmo, an asset management and SaaS security solution for modern and cloud-native IT and SecOps teams. This deal broadens JumpCloud’s open directory platform to discover, manage, and control IT assets for secure and streamlined user provisioning, access request management, and utilization monitoring.

Databricks Acquires Lilac To Shape AI Products With Better Data

By Amit Chowdhry ● Mar 21, 2024

Databricks announced that it has acquired Lilac. Lilac is a scalable and user-friendly tool for data scientists to search, cluster, and analyze any text dataset, focusing on generative AI. Lilac can be used for various use cases — from evaluating the output from large language models (LLMs) to understanding and preparing unstructured datasets for model training. Integrating Lilac's tooling into Databricks will help customers accelerate the development of production-quality generative AI applications using their enterprise data.

Accenture Buying Flo Group To Expand Supply Chain Offerings In Europe

By Amit Chowdhry ● Mar 21, 2024

Accenture announced it acquired Flo Group, a leading European consultancy and Oracle business partner specializing in global supply chain logistics. This acquisition enhances Accenture’s Oracle capabilities in Europe, helping clients build more agile supply chains that provide end-to-end visibility. The financial terms of the transaction were not disclosed.

Yoshi Mobility Buying Mobile Auto Concepts To Accelerate Service Expansion

By Amit Chowdhry ● Mar 21, 2024

Yoshi Mobility, a leading tech-enabled mobile car care company, announced that it had acquired Mobile Auto Concepts Inc. (MACi), a full-suite mobile automotive services company specializing in tire care and replacement, preventative maintenance, multipoint inspections, eco-friendly washes, and other services.

ServiceNow Acquiring 4Industry And EY Smart

By Amit Chowdhry ● Mar 21, 2024

ServiceNow announced it signed an agreement to buy 4Industry, a Netherlands-based partner whose manufacturing technology application is built on the Now Platform. And ServiceNow also acquired Smart Daily Management, a connected digital worker application from EY.

AstraZeneca Acquiring Fusion Pharmaceuticals In $2 Billion Deal

By Amit Chowdhry ● Mar 20, 2024

Fusion Pharmaceuticals, a clinical-stage oncology company developing next-gen radioconjugates (RCs) as precision medicines, announced it entered into a deal to be acquired by AstraZeneca. This deal marks a significant step forward for AstraZeneca in delivering on its ambition to transform cancer treatment and patient outcomes by replacing traditional regimens like chemotherapy and radiotherapy with more targeted treatments.

IFF Selling Pharma Solutions Operations To Roquette In $2.85 Billion Deal

By Amit Chowdhry ● Mar 20, 2024

IFF announced it has entered into a definitive agreement to sell its Pharma Solutions business unit to plant-based ingredient company Roquette for an enterprise value of up to $2.85 billion. This deal represents an enterprise value to EBITDA multiple of about 13 times.

Carlisle Companies Buying MTL Holdings For $410 Million In Cash

By Amit Chowdhry ● Mar 20, 2024

Carlisle Companies announced that it had entered a deal to acquire MTL Holdings from private equity firm GreyLion Partners. MTL is a provider of pre-fabricated edge metal for commercial roofing systems. Under the terms of the acquisition, Carlisle will purchase MTL for $410 million in cash.

Wynnchurch Capital To Sell LPW Group To Oaktree

By Amit Chowdhry ● Mar 20, 2024

Wynnchurch Capital (a leading middle market private equity firm) announced the sale of Houston-based LPW Group Holdings to funds managed by Oaktree Capital Management. LPW Group is a leading designer and manufacturer of specialty valves, actuators, fittings, flanges, and flow control products that serve mission-critical applications across chemical, petrochemical, LNG, refining, renewable, naval, pulp and paper, and other industrial markets.

Francisco Partners Acquiring Jama Software For $1.2 Billion

By Amit Chowdhry ● Mar 19, 2024

Jama Software - a leading requirements management and traceability solution company - announced that private equity firm Francisco Partners agreed to acquire the company from shareholders, including Insight Partners and Madrona Ventures, for $1.2 billion.