COMEA PROCESS acquired by GROUPE VELEC

Luxempart has acquired a 26% minority stake in Kestrel Vision for €110M. The transaction follows a competitive process involving funds such as Capza, Towerbrook, and IK Partners. The capital injection serves three purposes: a capital increase to strengthen the balance sheet, a partial cash-out for management, and the refinancing of a bridge loan provided by Caravelle for the acquisition of US-based Filtec in late 2022. Despite a valuation exceeding €500M, the majority shareholder Caravelle opted for a minority opening instead of a full exit due to current debt market constraints

Michelin has announced a definitive agreement to acquire the entire stake of The Flexitallic Group from the private equity firm Bridgepoint. This transaction marks a strategic exit for Bridgepoint, which first partnered with the business in 2013 and guided it through a significant transformation. For Michelin, the acquisition represents another major step in its diversification strategy, adding a complementary "High-Tech Materials" platform with a strong industrial client base. Flexitallic's expertise in sealing technologies and joint integrity aligns perfectly with Michelin's competencies in high-performance materials

The industrial group specializing in safety equipment for electrical environments has been acquired in its entirety by the founding family and employees, offering an exit route for Capza, Bpifrance, BNP Paribas, and Casra Capital. The buy-back is financed through bank debt and family equity. The exit provides a strong return for Capza, as the company doubled its size during their 5-year tenure through organic growth and 10 acquisitions.

The acquisition of the SomaLogic business unit by Illumina marks a significant strategic maneuver designed to consolidate leadership in the emerging multi-omics landscape. The strategic rationale for this transaction centers on the integration of the target’s high-plex proteomics platform with the group’s world-leading sequencing technology. This fusion effectively creates a unified ecosystem capable of correlating genomic sequences with real-time protein expressions, providing researchers with an unprecedented "end-to-end" view of biological systems

Prysmian (80%) and Fincantieri (20%) have agreed to acquire Xtera from private equity firm H.I.G. Capital. This acquisition allows the Italian partners to offer a complete "one-stop-shop" solution for subsea telecommunications: Prysmian provides the cables, Xtera provides the electronic repeaters and system design, and Fincantieri provides the vessels and installation capabilities. The closing is expected in Q1 2026.

NEXTCHEM has signed a binding agreement to acquire 100% of the share capital of Ballestra Group from its current shareholders. The strategic rationale for the transaction is to integrate Ballestra’s world-class proprietary technology portfolio in surfactants and fertilizers, thereby expanding NEXTCHEM’s current nitrogen-based offerings into phosphate, sulfur, and potassium-based solutions. This acquisition allows MAIRE to establish a more robust European technology platform with a global reach, focusing on the decarbonization of energy-intensive industrial processes

Shimadzu Corporation has entered into an agreement to acquire Tescan from The Carlyle Group, as part of a strategic plan to bolster its position in the global scientific instruments and advanced imaging technologies market. Under Carlyle's ownership since 2023, Tescan has undergone significant transformation, accelerating its growth, strengthening its international development, and solidifying its presence in the semiconductor-related markets. Concurrently, the company has enhanced its offerings by developing new workflows dedicated to these applications, while expanding its service capabilities and structuring its industrial partnerships

Baglioni S.p.A. has acquired a majority stake in Aeromeccanica Stranich from private equity firm Alcedo SGR (exiting its Fund IV investment) and the owner family. The family will reinvest in the new structure via his holding and continue to support integration and international growth. Alcedo had originally invested in 2016 (acquiring 49% initially) and supported the company's growth from EUR30m to EUR60m in revenue.

Interpump Group has acquired 100% of FARMA S.r.l. The sellers are the club deal vehicle F&P4Biz (which held 74% since 2021), the founding Poma family, and management. This acquisition follows Interpump's purchase of Padoan (a tank manufacturer) in July 2025, allowing for complete product integration. The current management team, including CEO Antonio Dolgetta and COO Andrea Poma, will remain in place.

Smiths Group plc has entered into a definitive agreement to sell 100% of Smiths Detection to CVC Capital Partners, making the final major step in Smiths Group’s strategic portfolio reorganization. The strategic rationale for the deal is to reposition Smiths Group as a focused, high-performance industrial engineering company specializing in flow management (John Crane) and thermal solutions (Flex-Tek). For Smiths Group, the cash sale was preferred over a demerger as it provided immediate value realization for shareholders and capital for a £1 billion buyback program