?? Welcome to the weekly DACH deal recap.
- Swedish investor EQT to acquire majority stake in Swiss cybersecurity firm Acronis valued at around $4bn, while existing investors CVC, Springcoast Capital Partners, and BlackRock remain shareholders (REU)
- Société Générale selling Swiss retail banking business and the wealth management division in the UK and Channel Islands to Union Bancaire Privée for approximately €900m (FN)
- Roche considering divesting cancer data specialist Flatiron Health, which it acquired for $1.9bn in 2018 (FT)
- Swiss Bankers Prepaid Services acquired by Hypothekarbank Lenzburg, aiming to create a leading provider in the Banking-as-a-Service and Embedded Finance sectors (FN)
- Major shareholder GBL sells Adidas shares worth €999m, allowing it to offer record dividends to own shareholders (FM)
- Deutsche Beteiligungs acquired Unity, a German management consultancy specializing in technology and digital transformation processes (RD)
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- Partners Group considering launching IPO of German metering company Techem as early as September (BBG)
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- Demecan, one of Germany's largest cannabis producers, completed a funding round led by Florida-based Trog Hawley Capital, bringing the valuation close to €100m and marking first US institutional investment (REU)
- Knime, a Zurich-based open-source data science and AI company, secured an additional $30m from Invus, bringing total funding to $50m (FS)
- Breitling CEO Georges Kern is joining Soeder to help the Zurich-based soap manufacturer gain global recognition (NZZ)
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- LGT Capital Partners raises CHF1.7bn for new private equity and credit strategies (CW)
- BayWa is in advanced talks with lenders and investors for a €500m rescue package to extend time for full debt restructuring (BBG)
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- Helvengo, an insurtech startup backed by TX Ventures, has gone bankrupt after investors pulled the plug roughly two and a half years post-investment (TP)
- Esprit shutting down all 56 German stores by year's end, cutting 1,300 jobs, with brand rights for its insolvent European business transferring to British investor Alteri (HB)
- For more, subscribe to Cracking the Vault. You can find a full recap of last week here.
Until next week, stay curious!
