Dealytics Weekly Review

Welcome to the Dealytics weekly review where we list a summary of the top M&A deals, announcements, insights from the previous week.

Edition 78

Weekly M&A Metrics (February 16, 2025 - February 22, 2025)

Deal Volume: $27.3 Billion

Number of Deals: 122

M&A Advisory Fees: $192.8 Million

Top Industry: Industrials

Reports

Just Released: Dealytics Top 100 M&A Dealmaker Bankers in 2024

Top Deals

(February 19, 2025) Herc Rentals Holdings Inc. to acquire H&E Rentals Equipment Services Inc. for an implied of value of $104.59 per share representing a 14% premium totaling $5.3 billion.

• Bank of America Merrill Lynch ( Brian Henderson , Patrick Ramsey) served as financial advisor to H&E Equipment Services
• Milbank LLP ( Dan Perry , Antonio Diaz-Albertini , Brett Nadritch, Jonathon Jackson , Ed Lemanowicz , Adam Di Vincenzo , Grant Bermann , Iliana Ongun , Manan Shah , Kelly Bartley, Derek Winokur ) served as legal advisor to H&E Equipment Services
• Guggenheim Securities ( Eric Rutkoske , John Welsh , John Fargis ), and 东方汇理银行 served as financial advisor to Herc Holdings
• Simpson Thacher & Bartlett LLP ( Caroline Geiger , Benjamin A. Bodurian , Katie Reaves , Katharine Thompson , Karen Kazmerzak , Jonathan Ozner , Josh Bonnie , Benjamin Rippeon, Jonathan Corsico , Jeannine McSweeney , Josh Bonnie ) served as legal advisor to Herc Holdings

(February 18, 2025) Diamondback Energy to acquire Double Eagle Energy Holdings IV LLC from EnCap Investments L.P. for $4.08 billion.

• 高盛 ( Suhail Sikhtian , Scott Hankey , Abi Okuboyejo ), J.P. 摩根 Securities LLC, and RBC Capital Markets served as financial advisor to Double Eagle IV
• Vinson & Elkins LLP ( Rebecca Baker , Tzvi Werzberger , Evan Miller , Danielle Patterson , Michael Marek , Jackson O'Maley , David D'Alessandro , Hill Wellford , Megan James , David Peck , Matt Strock , Bryan Loocke) served as legal advisor to Double Eagle IV
• Tudor, Pickering, Holt & Co. Securities, Inc. (Travis Nichols ) served as financial advisor to Diamondback Energy
• Kirkland & Ellis ( Jonathan Kidwell , Debbie Yee , Jennifer Cornejo , Matthew Wheatley , Camille Walker Meissner , Rachael Lichman , Michael Rigdon , Sean T. Wheeler , R. David Wheat , Joe Tobias , Chuck Boyars , Jarrod Gamble , Chris Heasley ) served as legal advisor to Diamondback Energy

(February 18, 2025) Shift4 Payments Inc. to acquire Global Blue Holdings AB for $7.50 per share representing 15% premium totaling $2.5 billion.

• Oppenheimer & Co. Inc. , PJT Partners , IFBC AG , J.P. 摩根 Securities LLC, 瑞银投资银行 , and 德意志银行 served as financial advisor to Global Blue Holdings
• Niederer Kraft Frey ( Markus Kronauer , Philip Spoerlé , Ulysses von Salis , Philipp Haas ) and Simpson Thacher & Bartlett LLP ( Chris Vallance , Hui Lin , Catherine Burns , Lori Lesser , James Rapp , Shahpur Kabraji , Tristan Brown , Dorothy Hector , Jessica Asrat , Chris May , Russell Light , Etienne Renaudeau , Mark Viera , Elizabeth Cooper ) served as legal advisor to Global Blue Holdings
• 高盛 ( Kelly Galanis ) served as financial advisor to Shift4 Payments
• Loyens & Loeff ( Marco Toni ), and Latham & Watkins ( Pierre-Louis Cléro , Peter Todaro , Marc Jaffe , Robert Price , Fabrice Fages , Naiara Rodriguez-Escudero , Christopher Bezeg , Matthias Rubner , Bradd Williamson , Katherine A. Rocco , Drew Levin , Manu Gayatrinath, David R. Little , Ian Schuman , Fiona Maclean , Kendall Burnett , Jason Licht , Stuart Davis , Barrie VanBrackle , Harrison White , Megan Alessi , Katie Peek , Jana Dammann de Chapto , Melissa Frankel Fabian , Makan Delrahim , Cesare Milani , Jennifer Carroll Archie , Eric Kamerman, Leah Sauter , Jeffrey Tochner , Andrew Elken ) served as legal advisor to Shift4 Payments

(February 20, 2025) CELSIUS Holdings Inc. has agreed to acquire Alani Nutrition LLC from Alani's co-founders Katy Schneider, Haydn Schneider, Max Clemons and Trey Steiger for $1.65 billion.

• J.P. 摩根 Securities LLC served as financial advisor to Alani Nutrition
• Greenberg Traurig, LLP ( Travis Walker , Stephen Pepper , Jeff Ekeberg , Dmitriy Tartakovskiy , Mathew Hoffman ) served as legal advisor to Alani Nutrition
• 瑞银投资银行 ( Marc-Anthony "MA" Hourihan , Hans-Martin Blank) served as financial advisor to Celsius Holdings
• 富而德律师事务所 Bruckhaus Deringer LLP ( Ethan Klingsberg , Sanjay Murti ) and Latham & Watkins ( Steven Stokdyk ) served as legal advisor to Celsius Holdings
• Cooley LLP ( Stephanie Gentile , Bill Roegge , Jeremy Morrison , Jamie Leigh ) served as legal advisor to the Alani co-founders

(February 18, 2025) Asbury Automotive Group Inc. to acquire The Herb Chambers Companies for $1.34 billion.

• Stephens served as financial advisor to Herb Chambers Cos
• WilmerHale ( Douglas Burton , Kirk Nahra , Meghan Walsh , Chalyse Robinson , R. Scott Kilgore , Jeff P. Johnson , A. William Caporizzo , Joe Conahan , Andrew Alin , Hartmut Schneider ) served as legal advisor to Herb Chambers Cos
• Bank of America Merrill Lynch served as financial advisor to Asbury Automotive Group
• 众达律师事务所 ( Ryan Drzemiecki ), and Hill Ward Henderson ( Lisa Gilleland , Scott Dibbs , Katherine Frazier , Kevin Sutton , Steve Kelly ) served as legal advisor to Asbury Automotive Group

(February 17, 2025) 宣伟 to acquire 巴斯夫 Group's Brazilian architectural paints business for $1.15 billion.

• 花旗 ( Paul A Smith , Mihail Polyakov ) served as financial advisor to Sherwin-Williams Co
• 众达律师事务所 ( Wade Angus ) and BMA Advogados served as legal advisor to Sherwin-Williams Co
• 德意志银行 AG served as financial advisor to BASF Group
• 年利达 LLP ( Dr Tim Johannsen-Roth , George Casey , Gregory Gewirtz , Heiko Schiwek ) and Todorov, Giannini & Nisiyama served as legal advisor to BASF Group

(February 19, 2025) Kontoor Brands, Inc. to acquire Helly Hansen AS from Canadian Tire Corporation for $898.88 million.

• 摩根士丹利 served as financial advisor to Kontoor Brands Inc
• Foley & Lardner LLP ( Leigh Riley , Daniel Kaplan , Joshua Roling , Ethan D. Lenz , Tim Voigtman , Greg Neppl , Bryan Schultz ) served as legal advisor to Kontoor Brands Inc
• 高盛 ( Ivan Kasanof ) served as financial advisor to Canadian Tire Corp
• Norton Rose Fulbright ( Walied Soliman, KC , Trevor Zeyl ), and Schj?dt AS ( Robert Romansky , Rasmus Juel Schi?tt ) served as legal advisors to Canadian Tire Corp

(February 18, 2025) Light & Wonder Inc. to?acquire the?charitable gaming assets from Grover Gaming Inc. for $850 million.

• Jarden Group Ltd. ( Nimesh Wijesooriya ) served as financial advisor to Light & Wonder Inc
• Cravath, Swaine & Moore LLP ( Matthew Bobby, David Kappos , Jin Baek , Jesse Weiss , Len Teti , Michael Mariani , Robert Townsend ) served as legal advisor to Light & Wonder Inc
• 高盛 ( Raf Mercado , Zach Eckler , Scott Smith ) served as financial advisor to Grover Gaming Inc
• Morgan, Lewis & Bockius LLP ( Ezra Church , Patrick Rehfield , Qian (Susan) Zhu , Don Shelkey , Harry Robins , Ron Dreben , August W. Heckman III , Paul Gordon , Justin Chairman , Richard Aldridge , Ariane Baczynski ) served as legal advisor to Grover Gaming Inc

(February 20, 2025) Valvoline Inc. to acquire Breeze Autocare from Greenbriar Equity Group, L.P. for $625 million.

• Jefferies LLC and Piper Sandler served as financial advisors to Breeze Autocare
• Kirkland & Ellis LLP ( Raghav Gupta , Kathryn Leonard , Philippe Simard , Shawn OHargan ) served as legal advisor to Breeze Autocare
• 摩根士丹利 served as financial advisor to Valvoline Inc
• Squire Patton Boggs ( David Saltzman , Jaime Daddona , Jonathon Whittlesey ) served as legal advisor to Valvoline Inc

(February 20, 2025) Cosette Pharmaceuticals, Inc. , a portfolio company of Avista Capital Partners LP and Hamilton Lane , to acquire Mayne Pharma Group Ltd. for $4.71 per share representing a 115% premium totalig $430 million.

• Jefferies LLC served as financial advisor to Mayne Pharma Group
• Arnold & Porter Porter Kaye Scholer LLP ( Debbie Feinstein , Tracy Belton , Derek Stoldt ), and Gilbert & Tobin served as legal advisor to Mayne Pharma Group
• Banco Santander Colombia and 瑞银投资银行 served as financial advisor to Cosette Pharmaceuticals Inc
• Ropes & Gray LLP ( Margaux J. Hall , Megan Bisk , Lincoln Tsang , Jacqueline Grise , Jane Willis , Lisa 文琳 Kaltenbrunner , Arek Maczka, Deborah Gersh , Brendan Hanifin, Kellie Branson Combs , Laura Hoey , Peter Alpert , David Blittner , David Saltzman , Benjamin Rogers , Jackie Cohen , Pascal Mayer , Jordan Altman , Sam Levitt , David Kaye ) and Corrs Chambers Westgarth served as legal advisors to Cosette Pharmaceuticals Inc

(February 21, 2025) Concentra Biosciences LLC has made an unsolicited offer to acquire ACELYRIN, INC. for $3.00 per share totaling $302.16 million.

• Guggenheim Investments served as financial advisor to ACELYRIN
• Fenwick & West ( Ethan Skerry , Stefano Quintini ) and 普衡律师事务所 LLP ( Sean Donahue , Andrew Goodman , Eduardo Gallardo ) served as legal advisor to ACELYRIN

(February 18, 2025) One Equity Partners to acquire Wheeler Fleet Solutions from VSE Corporation for $165 million.

• Moelis & Company ( Andrew Welby ) served as financial advisor to One Equity Partners
• Davis Polk & Wardwell LLP served as legal advisor to One Equity Partners
• Jefferies LLC ( Jonathan Carey , Nick Fazioli , Bill Della Giustina, CPA , Dominic Aquilina , Richard Burke ) served as financial advisor to VSE Corp
• 众达律师事务所 ( Luis A. Velez , Lorne Cantor ) served as legal advisor to VSE Corp

(February 19, 2025) PDF Solutions to acquire TC secureWISE LLC from Telit Cinterion for $130 million.

• Houlihan Lokey served as financial advisor to secureWISE
• TD Securities served as financial advisor to PDF Solutions
• Latham & Watkins ( Bret Stancil , Chad Rolston ) served as legal advisor to PDF Solutions
• 霍金路伟 ( Sylvain Dhennin ) served as legal advisor to Telit Cinterion

(February 20, 2025) IRETI S.p.A. , a subsidiary of Iren SpA, to acquire the remaining 40% stake in IREN Acqua gas S.p.A. from F2i SGR SpA for $104.3 million.

• Rothschild & Co ( Alessandro Daffina , Alessandro Bertolini Clerici , Edoardo Pasquotti , Stefano Romano Maria Selva ) served as financial advisor to Ireti SpA
• EQUITA ( Carlo Andrea Volpe , Marino Marchi , Nicola Tomaiuoli , Matteo Pavoni ) and BANCA IMI S.P.A. served as financial advisor to F2i SGR SpA