August 07
Dakota Transactions is a daily newsletter delivering a comprehensive summary of the top stories and transactions in sponsor-backed M&A, growth and venture investments, portfolio company debt and deal financing, and more across the Tech & Telecom; Sports, Media & Entertainment; Healthcare; Financials; Professional Services; Consumer & Retail; Infrastructure; Energy; Industrials & Materials; and Real Estate sectors.
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Blackstone will acquire energy data platform Enverus from Hellman & Friedman and Genstar for >$6B, expanding its energy analytics portfolio. TA Associates may sell ERP software provider Unit4 for ~$4.7B, while TPG is buying Australian SaaS firm Infomedia for $422M. NielsenIQ purchased Brazil’s Mtrix for supply chain visibility. OpenAI targets a $500B valuation in a secondary sale led by Thrive Capital. AI startups Runway and Luma seek $500M and $1.1B raises, respectively. Other notable rounds included Lorikeet’s $35M Series A, Fundamental Research Labs’ $33M, Tavily’s $25M, SubZero Labs’ $20M, and multiple AI- and automation-focused early-stage financings.
ESPN will acquire NFL Network, RedZone, and NFL Fantasy from the NFL in exchange for a 10% equity stake, boosting its upcoming direct-to-consumer offering. The UK CMA approved Omnicom’s $13B acquisition of Interpublic. ProSiebenSat.1’s board endorsed MFE-MediaForEurope’s takeover bid, targeting €150M in synergies. Kuvi.AI acquired Web3 game infrastructure provider Altura. Funding activity included SuperGaming’s $15M Series B to expand its title “Indus,” Kontext’s $10M seed for contextual advertising, Bobble AI’s $1.5M Series D extension, and Shortgun Games’ $1M seed for India’s first story-driven shooter franchise. Strategic M&A reflects consolidation across sports media, advertising, and gaming infrastructure.
Novartis is weighing a $5.7B takeover of Avidity Biosciences. Datavant acquired Ontellus to form a Legal & Insurance vertical. KKR recapitalized DentalXChange; Keystone Capital formed Gillson Sciences via Azzur Labs and Micro Measurement Labs buys. EyeSouth Partners entered Michigan via Sunvera Group acquisition. Arlington Capital’s AVS Bio bought IPA Europe; LSOMS’ Pinnaql acquired Validation & Engineering Group; Ultimo purchased FSI. Notable financings included Blackstone’s $500M credit facility for MannKind, Cosmos Health’s $300M convertible notes, Positive Development’s $51.5M Series C, Trust AI’s $6M seed, and Neurogram’s $3M seed. Heartflow upsized its IPO to $300M at a $1.46B target valuation.
AlTi Global is exploring a take-private sale with JPMorgan. RIA consolidation continued: Aspen Standard Wealth bought MG Financial; Arax’s Ashton Thomas acquired Kobo Wealth; ALKEME purchased Innovative Insurance Group. Deluxe acquired CheckMatch from J.P. Morgan’s Kinexys; Germany’s dwpbank bought fintech lemon.markets. Ares Capital extended $550M to Highstreet Insurance Partners; Stavtar Solutions raised $55M from Elephant; Capitolis added strategic bank investors; India’s DPDzero raised $7M; Lava secured $5.8M. Carlyle reported a 26% YoY increase in distributable earnings, fueled by $3.7B in PE exits. Capital flows favored insurance, fintech infrastructure, and private wealth platforms.
Blackstone launched a $3.5B tender offer for TechnoPro, its largest Japan investment. Normec expanded into the US via three lab acquisitions; Dubin Research acquired Immersion Legal; Cherry Bekaert bought Jameson & Company CPAs; HR Path acquired PredictiveHR; Prosperity Partners bought Pipaya; Milrose Consultants purchased ARC; Hazeltree acquired Siman Systems. Major funding included Rillet’s $70M Series B led by a16z and ICONIQ, Vendict’s $10M Series A, and August’s $7M seed for AI legal tech. Deals reflect strong cross-border expansion in testing, inspection, compliance, HRIS, and AI-enabled professional service platforms.
Hoffmann Family acquired Elmer Chocolate, with leadership retaining stakes. BV Investment Partners bought a majority stake in The Millennium Alliance. Yomeishu Seizo is exploring a delisting amid buyout proposals; Atour Lifestyle plans a Hong Kong secondary listing to raise hundreds of millions. Strategic activity reflects brand heritage investments, event-driven B2B growth, and cross-border capital market positioning. Consumer-facing M&A continues to target specialty brands, peer-to-peer platforms, and Asian hospitality operators hedging US market risk.
FTAI Infrastructure will acquire Wheeling & Lake Erie Railway for $1.05B, backed by $2.25B in capital from Ares and debt financing. Apollo Funds will take a majority stake in Stream Data Centers, with capital committed for 650 MW of near-term capacity across major US metros. Both transactions underscore investor appetite for essential freight and data infrastructure with scalable growth potential.
CORE Energy raised $22.8M to advance nuclear and defense manufacturing. HYLENR secured $3M for Low Energy Nuclear Reaction systems. YPF will buy 45% of two Vaca Muerta shale oil fields from TotalEnergies for up to $500M. Activity indicates continued cross-border capital flows into nuclear innovation and Latin American unconventional oil assets, balancing energy security with technological advancement.
Rocscience acquired Rockfield for advanced energy and mining modeling software. OCI merged with GMS Piling Products; IWS acquired Seaside Waste Services; Guardian Logistics partnered with Canopy Capital and Plexus Capital. Evok Innovations led a $30M Series A2 for DISA Technologies; DAS secured a $15M equity facility; Raise closed a $7.8M seed; EVeez raised $5.4M; LiORA received $3M; Cautio raised $3M; EON Space Labs secured $1.2M. Industrial M&A is leaning toward integrated platforms and high-tech manufacturing, while VC targets robotics, clean tech, and aerospace innovation.
Saudi developer Almajdiah priced a $336M IPO 107x oversubscribed. Accor is weighing a US IPO for Ennismore; Cove Capital acquired a San Antonio build-to-rent community; Bow River bought Brookside Commons in Kansas City; LogProstyle and Inmark Global formed a Japan-focused real estate JV. CBRE listed Cincinnati’s Garfield Suites for sale amid foreclosure. Capital is flowing toward residential build-to-rent, mixed-use hospitality, and distressed asset repositioning, with notable public market activity in Saudi Arabia and hospitality IPO pipelines.
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