ELECTRO CABLES acquired by NEXANS

The founding family of Poggipolini signed an agreement to repurchase the minority stake (approx. 28.6%) held by a Club Deal organized by Cherry Bay Capital since 2020. This "Club Deal" brought together about thirty prominent industrial entrepreneurs who provided capital and strategic guidance to transform the company. During their five-year tenure, the investors supported a massive scaling of the business, which grew from EUR14 million in revenue in 2020 to a projected EUR57 million in 2025. This growth was fueled by organic expansion into the Space/Defense sectors and two key acquisitions: Aviomec in Italy and Houston Precision Fasteners (HPF) in the USA. The family is now taking back 100% control of the group, offering a lucrative exit to the club deal investors.

Rivean Capital has acquired 100% of Engelmann Sensor from Deutsche Private Equity (DPE). The management team will remain invested in the business. The strategic rationale for the exit follows a five-year period under DPE ownership during which Engelmann more than doubled its EBITDA and significantly expanded its international footprint into markets like Canada and the UAE. For Rivean, the acquisition provides a platform to capitalize on the digitalization of the building technology sector. The deal is structured to leverage Engelmann’s high-margin hardware base to upsell software-as-a-service (SaaS) solutions for consumption data management.

Smiths Group plc has agreed to sell 100% of Smiths Interconnect to Molex Electronic Technologies Holdings. The transaction, expected to close in the second half of fiscal year 2026, is a key pillar of the strategic plan announced in January 2025 to refocus Smiths Group as a high-performance industrial engineering company. The strategic rationale for the deal is twofold: for Smiths Group, it unlocks significant inherent value and provides cash to enhance shareholder returns via buybacks and dividends. For Molex, the acquisition significantly strengthens its presence in the high-reliability defense, space, and medical markets by integrating Smiths' specialized interconnect technologies. The perimeter of the sale excludes the US sub-systems business unit, which was separately divested in October 2025. This deal was announced simultaneously with the ongoing sales process for Smiths Detection, marking a definitive shift toward a more streamlined group structure focused on flow management and thermal solutions.

Mirion has entered into a definitive agreement to acquire Paragon Energy Solutions from Windjammer Capital Investors in a 100% buyout transaction executed on a cash-free, debt-free basis. The transaction is fully supported by a committed bridge facility, with permanent financing anticipated to be structured through a strategic combination of equity, debt, or equity-linked instruments to optimize the pro-forma balance sheet. The acquisition significantly enhances Mirion’s exposure to the "nuclear renaissance." By integrating Paragon, Mirion creates a broader, more comprehensive suite of offerings for nuclear power customers, extending its reach from radiation monitoring into critical reactor instrumentation and control systems. The combination is highly complementary: Mirion’s global scale provides a platform to export Paragon’s North American-centric portfolio to international markets. Furthermore, the deal solidifies Mirion’s participation in the high-growth SMR market, where Paragon has established an early-mover advantage with key OEMs.

This transaction represents a strategic corporate acquisition wherein Knorr-Bremse agrees to fully acquire duagon Group. The operation effectively facilitates a complete exit for the historical private equity sponsor, Deutsche Beteiligungs AG (DBAG), from the target's capital structure. Financed entirely through the acquirer's available liquidity and existing credit lines, the deal also includes a potential performance-based earn-out component. The primary strategic rationale underpinning this consolidation is to highly complement Knorr-Bremse's existing safety electronics division with duagon Group's specialized rail signaling technology. This powerful integration is designed to drastically accelerate international growth, generate massive operational and revenue synergies, and solidify the acquirer's undisputed leadership in the global rail market.

Apollo Global Management has entered into a definitive agreement to acquire a controlling majority stake in Kelvion from Triton Partners, executing a high-profile corporate buyout within the European industrial technology sector. The transaction is structured via a share purchase agreement that allows Triton Partners to maintain an active, non-controlling minority equity interest alongside Apollo. To ensure seamless operational continuity and execution, the governance framework dictates that Kelvion’s long-standing executive management team, led by CEO Andy Blandford, will remain embedded at the helm of the organization. The transaction's financial engineering relies on substantial equity commitments from the Apollo Funds, complemented by a senior corporate debt facility arranged by a tier-one investment banking syndicate.

DXP Enterprises has successfully finalized the acquisition of 100% of the common stock of Moores Pump & Services, marking a definitive expansion of its rotating equipment division within the United States Gulf Coast. This strategic transaction integrates a high-performing regional leader into the "One DXP" framework, specifically targeting the industrial heartlands of Louisiana and the broader offshore and onshore energy corridors. The strategic rationale for the move centers on the high degree of technical complementarity between the target’s specialized fabrication expertise and the group’s existing dominant position in industrial distribution and pumping solutions. By incorporating this technical specialist, the organization reinforces its ability to serve mission-critical end markets that demand localized, high-tier service and repair models. The partnership is designed to leverage the acquirer’s centralized procurement resources and massive distribution scale while utilizing the target’s long-standing reputation for fabrication excellence. This integration facilitates a more comprehensive solution set for regional clients, providing the strategic depth required to maintain and modernize the critical rotating infrastructure of the Gulf Coast. The move solidifies the group’s standing as a primary enabler of technological advancement and operational reliability in the North American industrial supply chain.

KKR, through its vehicle Project Aurora Bidco Limited, has completed the acquisition of Spectris plc for a total consideration of approximately £4.4 billion. The transaction followed a competitive bidding war between KKR and Advent International. The strategic rationale for the deal is to transition Spectris to private ownership to provide the capital and flexibility needed for accelerated investment in R&D and bolt-on acquisitions. KKR has committed to maintaining Spectris’s headquarters in the UK and continuing its ESG initiatives, including a £1 million annual contribution to the Spectris Foundation. The deal allows Spectris to continue its transformation into a "world-class" precision measurement leader without the short-term pressures of the public market. The transaction was implemented via a court-sanctioned scheme of arrangement.

Latour Capital takes over the majority stake in Rollakin from EMZ Partners in a secondary LBO transaction. Since the first LBO in 2021, the group has strengthened its industrial tool and expanded its international footprint. Latour Capital's entry aims to accelerate this growth strategy, focusing on operational excellence and potential build-ups to broaden the group's technical offerings in niche industrial markets.

Femto Technologies S.p.A. has entered into separate, definitive share purchase agreements to acquire an initial 50.1% controlling majority stake in Prima Industrie S.p.A., launching a strategic public-to-private transaction. The initial block acquisition was structured as an all-cash transaction priced at a fixed baseline of €25.00 per share. The closing of this initial phase was bound by standard institutional conditions precedent, including multi-jurisdictional foreign direct investment (FDI) clearance, European antitrust approvals, and secured debt funding confirmations. The transaction's core investment thesis is centered on executing a full corporate squeeze-out and delisting the industrial technology asset from the public markets. Following the completion of the block trade, the acquiring consortium is legally bound to launch a mandatory totalitarian tender offer (MTO) for all remaining outstanding public shares at the same baseline price. By taking the company private, the sponsors intend to eliminate public market constraints, providing the group with maximum structural flexibility and robust long-term capital backing. The post-closing corporate roadmap is designed to aggressively navigate global sector consolidation, accelerate cross-border expansion, and implement an institutionalized management incentive program to drive long-term value creation.