Mergers & Acquisitions

Oshkosh To Buy AUSA

By Amit Chowdhry ● May 13, 2024

Oshkosh, a leading provider of purpose-built vehicles and equipment, announced it has entered into a definitive agreement to acquire AUSACORP S.L. (AUSA), which is a privately held international company and manufacturer of wheeled dumpers, rough terrain forklifts and telehandlers for the construction, material handling, agriculture, landscape, and specialty equipment industries. Following the deal’s closing, AUSA will become part of the Oshkosh Access segment.

TPG Rise Climate To Buy Olympus Terminals

By Amit Chowdhry ● May 13, 2024

TPG Rise Climate (a dedicated climate investing strategy of TPG’s global impact investing platform TPG Rise) has signed a deal to buy Olympus Terminals. Olympus Terminals is a leading independent storage provider for renewable fuels and refined products in Southern California. It is majority owned by an affiliated investment fund of Davidson Kempner Capital Management LP and an affiliated investment fund of Intrepid Investment Management.

Special Aerospace Services Buying Space Engineering Company Quintron Systems

By Amit Chowdhry ● May 10, 2024

Godspeed Capital Management LP, a lower middle-market defense and government services, solutions, and technology-focused private equity firm, announced the acquisition of Quintron Systems by SAS, its recently launched space engineering, defense, and communications technology solutions platform.

Reveal Buying AI-Based E-Discovery And Investigations Company Onna

By Amit Chowdhry ● May 10, 2024

Reveal, a global provider of the leading AI-powered eDiscovery, review, and investigations platform, has announced the acquisition of Onna Technologies, a leading provider in helping companies manage unstructured data from cloud-based collaboration tools. Reveal is enhancing the left side of the Electronic Discovery Reference Model (EDRM) and its end-to-end e-discovery platform through this strategic acquisition of the clear industry leader in data collection, analysis, and action. From the collection to the courtroom, Reveal offers the most comprehensive spectrum of AI-powered software solutions in the legal industry and beyond.

Rippl Buys AI Healthcare Company Kinto

By Amit Chowdhry ● May 9, 2024

Rippl, a leading dementia-focused specialty care provider, announced it had acquired Kinto - a Boston-based AI-enabled dementia caregiver support platform. This combination will enable the companies to reach an exponentially larger group of people living with dementia and their caregivers with human-centered care far beyond traditional brick-and-mortar models.

LPL Financial: Acquisition Of Crown Capital Securities Closed

By Amit Chowdhry ● May 8, 2024

LPL Financial announced it has closed its acquisition of Crown Capital Securities, L.P., a full-service broker-dealer and registered investment advisor (RIA) based in Orange County, California.

Private Advisor Group Brings In $90 Million Advisor

By Amit Chowdhry ● May 8, 2024

Private Advisor Group, one of the largest/fastest-growing independent wealth management firms, has welcomed Ethan Campbell (Wealth Advisor of Stones River Wealth Management) to its community of advisors. Based in Woodbury, Tennesse, team members include Collin Reed (Wealth Advisor) and Alana Hale (Office Administrator). The firm takes a holistic approach to financial planning and currently oversees a reported $90 million in client assets under management.

LPL Financial Brings In $200 Million Journey Financial Team

By Amit Chowdhry ● May 8, 2024

LPL Financial announced that financial advisors Timothy Heisterkamp, CFP, and Max Neese, CFP have joined LPL Financial’s broker-dealer, RIA and custodial platforms. And they reported serving approximately $200 million in advisory, brokerage and retirement plan assets, and join LPL from Cambridge.

BIP Wealth Acquiring The Money Advisor Group, Bringing AUM To $3.3+ Billion

By Amit Chowdhry ● May 8, 2024

The Money Advisor Group, LLC (TMAG), a Registered Investment Advisor (RIA) specializing in investment management and retirement planning, announced it had signed a deal to be acquired by Atlanta-based RIA, BIP Wealth, through its new BIP Alliance initiative. BIP Wealth offers investment management and sophisticated planning solutions for high-net-worth individuals and families, institutional clients, and corporate retirement plans.

LPL Financial Brings In $240 Million Guardian Partners Wealth Management Team

By Amit Chowdhry ● May 8, 2024

LPL Financial announced that financial advisors Mitchell “Mitch” and Wesley “Wes” McCann have joined its broker-dealer, RIA, and custodial platforms. They reported serving approximately $240 million in advisory, brokerage, and retirement plan assets and joined LPL from Ameriprise.

Akamai To Buy Noname Security In $450 Million Deal

By Amit Chowdhry ● May 8, 2024

Akamai Technologies, a cloud company that powers and protects life online, announced that it has entered into a definitive agreement to acquire application programming interface (API) security company Noname Security.

Lincoln Financial Completes Sale Of Wealth Management Business To Osaic In $650 Million Deal

By Amit Chowdhry ● May 8, 2024

Lincoln Financial Group announced that it has completed the sale of its wealth management business, including all ownership interests in the Lincoln subsidiary entities comprising that business, to Osaic - one of the nation’s largest providers of wealth management solutions. And the sale also provides Lincoln with about $650 million of capital benefit - which the company will use primarily to increase its risk-based capital ratio. Lincoln also plans on using part of the capital benefit to reduce its leverage ratio.

Docusign Buying Lexion In $165 Million Deal

By Amit Chowdhry ● May 8, 2024

Docusign announced it has agreed to buy Lexion for $165 million in cash, subject to customary conditions. Lexion's simple agreement workflow platform has helped companies streamline and centralize the contracting process by using AI. Lexion customers include in-house legal teams and users across sales, procurement, finance, marketing, HR, etc.

Zuora To Buy Metering And Rating Solution Company Togai

By Amit Chowdhry ● May 7, 2024

Zuora, a leading monetization suite for modern business, announced its planned acquisition of metering and rating solution Togai, enhancing its usage-based offerings. And with Togai’s low-code builder and developer-friendly interface to configure metering and rating of raw events quickly, the acquisition will help Zuora unite developers and finance teams to launch, iterate and adapt usage-based models.

Rocket Software Completes $2.275 Billion Acquisition of OpenText’s Application Modernization And Connectivity Business

By Amit Chowdhry ● May 7, 2024

Rocket Software, a global technology leader in modernization software, announced the closing of the acquisition of the Application Modernization and Connectivity (AMC) business of OpenText (formerly part of Micro Focus). Rocket Software now offers customers modernization software solutions spanning the mainframe to the cloud. With a total purchase price of $2.275 billion (before taxes, fees, and other adjustments), the deal increases the company’s revenue by over 60% and expands its customer base to 12,500+ companies and network to 750+ partners worldwide.

ALLETE To Go Private In $6.2 Billion Deal

By Amit Chowdhry ● May 7, 2024

ALLETE - a leading energy company and provider of safe, reliable, and competitively priced energy with a national footprint - and a partnership led by Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP) announced that they have entered into a definitive agreement under which the partnership will acquire ALLETE for $67 per share in cash, or $6.2 billion including the assumption of debt.

SES Buying Intelsat In A $3.1 Billion Deal

By Amit Chowdhry ● May 7, 2024

SES S.A. and Intelsat S.A. announced an agreement for SES to buy Intelsat through the purchase of 100% of the equity of Intelsat Holdings S.a.r.l. for a cash consideration of $3.1 billion (€2.8 billion) and certain contingent value rights.

Shutterstock Buying Envato In $245 Million Deal

By Amit Chowdhry ● May 7, 2024

Shutterstock, a leading global creative platform that offers creative content for transformative brands, digital media and marketing companies, announced that it entered into a definitive agreement to acquire Envato Pty Ltd., a leader in digital creative assets and templates. Envato's flagship product Elements is an innovative subscription offering unlimited downloads of various assets, templates, etc.

MAI Capital Management Brings In $312 Million Harbor Wealth Management Team

By Amit Chowdhry ● May 7, 2024

MAI Capital Management, a registered investment adviser (RIA) specializing in comprehensive investment and financial planning for high-net-worth individuals and families, announced the acquisition of Harbor Wealth Management. The terms of the transaction were not disclosed.

EQT Buying Perficient In A Deal Valued At About $3 Billion

By Amit Chowdhry ● May 6, 2024

Global digital consultancy company Perficient announced that it has entered into a definitive agreement to be acquired by a BPEA Private Equity Fund VIII (EQT Asia) affiliate in an all-cash deal that will value Perficient at about $3 billion.

Brookfield Buying 51% Stake In Castlelake’s Fee-Related Earnings Business

By Amit Chowdhry ● May 6, 2024

Brookfield Asset Management and Castlelake L.P., an alternatives asset manager specializing in asset-based private credit, including aviation and specialty finance, announced that they have entered into an agreement in which Brookfield will buy a 51% stake in Castlelake’s fee-related earnings business. Brookfield will invest about $1.5 billion, including capital to be invested in Castlelake’s investment strategies by Brookfield Reinsurance. This partnership will enable Castlelake and Brookfield to collaborate and expand Castlelake’s differentiated asset-based investment business.

Synopsys To Sell Software Integrity Business To Clearlake And Francisco Partners In $2.1 Billion Deal

By Amit Chowdhry ● May 6, 2024

Synopsys announced it has entered into a definitive agreement with Clearlake Capital Group, L.P. and Francisco Partners to sell its Software Integrity Group business in a transaction valued at up to $2.1 billion. Up to $475 million in cash will be payable upon Francisco Partners and Clearlake hitting a specified rate of return in connection with one or more liquidity transactions. Upon the deal’s completion, the business will emerge as a newly independent application security testing software provider.

Epicor Buying Inventory Planning And Optimization Company Smart Software

By Amit Chowdhry ● May 5, 2024

Epicor, a leader of industry-specific enterprise software to promote business growth, announced it has acquired Smart Software, a leading provider of cloud-based and AI-driven inventory planning and optimization (IP&O) applications, and an existing Epicor ISV partner. The deal accelerates Epicor’s delivery of ERP solutions that offer practical application of AI across the spectrum of business operations for the make, move, and sell industries. The financial terms were not disclosed.

Conduent Selling Casualty Claims Solutions Operations To MedRisk For $240 Million

By Amit Chowdhry ● May 5, 2024

Conduent, a global technology-led business solutions and services company, agreed to sell its Casualty Claims Solutions business to MedRisk, the nation’s largest managed care organization dedicated to physically rehabilitating workers’ compensation patients. This sale was for $240 million in cash, subject to customary adjustments, and includes of Conduent’s workers’ compensation and auto casualty bill review solutions and services that include processing medical bills and clinical services and its portfolio of Strataware bill review software products.

Avantax Buys Integrated Tax & Wealth Strategies’ $760 Million Wealth Management Operations

By Amit Chowdhry ● May 5, 2024

Avantax, a leader in tax-focused financial planning and wealth management, announced it has acquired the wealth management business of Integrated Tax & Wealth Strategies. This independent wealth management firm is one of the largest businesses within the Avantax Community, with $760 million in total client assets as of December 31, 2023.

ButcherBox Buying Virtual Cook-Along Platform Company Truffle Shuffle

By Amit Chowdhry ● May 5, 2024

ButcherBox, a leading direct-to-consumer meat and seafood brand, announced the acquisition of Truffle Shuffle, a virtual cook-along experience platform. The deal aims to boost cooking confidence in consumers across the US and within the ButcherBox community, as the company embraces media and community as part of its strategy while continuing to serve the goal of transforming the meat industry.

Altair Buying Computational Fluid Dynamics Software Company Research In Flight

By Amit Chowdhry ● May 5, 2024

Altair, a leader in computational intelligence, announced it has acquired Research in Flight (maker of FlightStream) - which provides computational fluid dynamics (CFD) software with a large footprint in the aerospace and defense sector and a growing presence in marine, energy, turbomachinery, and automotive applications.

Guesty Acquires Vacation Rental Property Platform Rentals United

By Amit Chowdhry ● May 3, 2024

Guesty, a leading property management software platform for the short-term rental (STR) and hospitality industry, announced the acquisition of Rentals United, a cloud-based platform for distributing and promoting properties across multiple listing sites. This acquisition combines two sophisticated software providers in the STR space to create a solid offering that opens up new revenue opportunities for property managers.

Stored Energy Solutions Company EnerSys Acquiring Bren-Tronics For $208 Million

By Amit Chowdhry ● May 3, 2024

EnerSys, a global leader in stored energy solutions for industrial applications, announced it has entered into a definitive agreement to buy Bren-Tronics in an all-cash transaction of $208 million. This purchase price represents approximately 8.7 times Bren-Tronics’ adjusted EBITDA for the twelve months ending December 31, 2023.

LPL Brings In $860 Million Strategic Wealth Partners Team

By Amit Chowdhry ● May 3, 2024

LPL Financial announced that the advisors at Strategic Wealth Partners have joined LPL Financial’s broker-dealer, RIA and custodial platforms. This team reported serving about $860 million in advisory, brokerage and retirement plan assets and joins LPL from Lincoln Financial.