Yesterday
Citi wall-crosses investors for Novonix raise; stock in trading halt
Its shares have fallen almost 25 per cent over the past 12 months and were changing hands at 70¢ apiece. They fell further after news of the raise broke.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Seek ends decades-long Latin American foray with $128m sale
The ASX-listed employment platform said it would use the proceeds of the sale of its Mexican and Brazilian businesses to Spain’s Redarbor to pay down debt.
- Tess Bennett
John Wylie’s head of private equity poached by pension fund gorilla
Jeyaraj’s expected to join Ontario Teachers, which oversees $247.5 billion in net assets globally.
- Sarah Thompson, Kanika Sood and Emma Rapaport
This Month
Fashion brand Assembly Label’s founders seek payday after 13 years
KPMG’s banker has offered up ways for a new owner to make Assembly Label’s already sticky customer base even stickier.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Parc Capital raising for consultancy roll-up Omnia
When Macquarie Capital came calling at Orro Group, Parc’s backers made two-times multiple on money. Now, the firm hopes it can repeat history at Omnia Collective.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Strong lender turnout at Quadrant’s $300m-plus Birch & Waite buy
It had been owned by Fortitude Investment Partners, where partner Nick Dignam oversaw its trajectory into a high-growth, high-margin business.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Guzman y Gomez tried its luck with PE before launching $2.2b float
Blackstone proposed a structured deal to Guzman y Gomez’s owners including TDM Growth Partners and co-founder Steven Marks.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Life360 launches Nasdaq IPO, terms sent to investors
The deal, which looks to have occurred more quickly than some local fund managers had anticipated, is due to price on June 5.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Iress executive out of the door
Street Talk understands Giles’ departure was announced internally late last week, a year after Price added him to the $1.49 billion firm’s leadership lineup.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Opinion
- Chanticleer
A ride with a billionaire and a PE bigwig ends in ugly crash
We can see how APM’s $2.1 billion buyout offers a neat solution, but that doesn’t mean it is a good story for the ASX. It is a shocker.
- Anthony Macdonald
Barrenjoey picks Abu Dhabi for offshore fixed-income trading unit
The local advisory group has become the first investment bank to set up a bond sales and trading operation in the city, choosing it over London or New York.
- Jonathan Shapiro
Crescent Capital set to take radiology business off The Growth Fund
Crescent Capital, which claims to be the country’s most active private equity manager in healthcare, has secured exclusivity.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Biotech Immutep seeks $102 million, taps three brokers
The offer price reflects a 15.6 per cent discount to the last close.
- Sarah Thompson, Kanika Sood and Emma Rapaport
DIF’s ageing funds ignite $1b renewables auction; Cbus rolls in
Cbus, sources said, joined DIF’s selldown to avoid contemplating life on the register with an unknown major shareholder.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Turnaround titans battle for Fletcher’s Tradelink; bids this week
Sources said both PE firms have been interviewing management candidates around the town, keen to lock in talent for the fix-up job should they win.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Eyes on Brookfield’s ACCC approvals for Neoen
The Brookfield Global Transition Fund II targets mid-teen returns but Neoen would be lucky to break above the 10 per cent mark, sources said.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Analysis
- UK
Global M&A lurches back to life
After a weak 2023, a recent flurry of deals is the latest sign of a revival in activity. But political uncertainty is holding back some takeovers.
- Ivan Levingston, Will Louch, James Fontanella-Khan, Maria Heeter and Antoine Gara
Madison Dearborn ups APM takeover price to $1.45; deal signed
MDP bumped its acquisition price to $1.45 a share to get APM’s independent board committee over the line.
- Sarah Thompson, Kanika Sood and Emma Rapaport
May
Ackman to sell stake in Pershing Square ahead of planned IPO
The hedge fund manager is said to be selling a 10 per cent stake of his firm in a funding round that values it at more than $US10 billion.
- Crystal Tse
- Opinion
- Chanticleer
Why Chemist Warehouse deal could create a ‘governance Frankenstein’
The unique family business has a staggering level of related party transactions. How that will work in an ASX-listed company remains unclear.
- James Thomson
