FCM acquired by PATELEC GROUP

Tecnikabel has completed the cross-border acquisition of a majority stake in US-based EIS Wire & Cable (« EIS »). The transaction was executed via a private, bilateral process driven by strong industrial complementarities. The financing was structured through Tecnikabel’s existing banking pool, with a key 45% co-investment from Italian public entity SIMEST (CDP Group) via its subsidized Fund 394, co-managed with the Ministry of Foreign Affairs. To ensure continuity, EIS’s management team, led by President Nicholas Moceri, will retain a significant minority stake

Kone agreed to acquire TK Elevator from a consortium led by private equity sponsors Advent and Cinven. The deal represents one of the largest exits of a private equity‑owned industrial asset in Europe and is structured as a platform‑level combination between two of the world’s four largest elevator and escalator manufacturers. The combined group, under the Kone corporate framework, is projected to achieve around EUR 20.5 billion in annual sales, with roughly 65% of revenue generated by the service and modernization segments and more than EUR 2

Smiths Group plc has agreed to acquire 100% of DRC Heat Transfer to expend Smiths' cooling and thermal management capabilities within the fast-growing data center market. The transaction is expected to close in the second half of fiscal year 2026, subject to customary regulatory approvals. Upon completion, DRC will be integrated into the industrial heat business of Smiths’ Flex-Tek division. While Flex-Tek already maintains a strong position in industrial heating, DRC’s expertise in cooling applications for back-up power generators provides a highly additive technological bridge

ITT Inc. has successfully finalized the acquisition of 100% of the share capital of SPX FLOW from an affiliate of Lone Star Funds. This transformative strategic transaction follows a highly successful take-private phase, during which the organization underwent significant operational professionalization and commercial optimization. The strategic rationale for the move centers on the high degree of technical complementarity between the two portfolios, specifically uniting the target’s specialized mixing and thermal technologies with the acquirer’s established global industrial presence

Syngroh Capital has acquired a majority stake in Kraft & Bauer from DBAG Fund VII (advised by Deutsche Beteiligungs AG) and the founding Bauer family. The strategic rationale for the deal is to transition the company from a private equity-led ownership to a long-term, family-office-backed structure that ensures operational continuity and values-based growth. Since DBAG's initial investment in 2018, Kraft & Bauer has evolved from a regional specialist into an international systems provider. Under Syngroh's ownership, the company will focus on further international expansion and the aggressive development of its installation and high-margin service business

LSI Industries agreed to acquire 100% of Royston Group from Industrial Opportunity Partners. The transaction is financed through a fully committed bridge facility, with permanent financing expected to include a mix of equity and debt, subject to Hart-Scott-Rodino antitrust clearance. The acquisition is highly strategic for LSI, combining Royston's complementary capabilities and long-standing customer relationships with LSI's existing retail branding solutions platform, creating the leading integrated retail branding and display solutions provider in North America

Origin Seal has completed its first international acquisitions by taking over the Dutch companies Polson and MBC Group. This strategic move adds approximately €12 million in combined revenue to the group and significantly strengthens its presence in the maritime sector. The transaction was supported by a comprehensive bank refinancing structured with LCL, Crédit Agricole, Société Générale, CIC, and Amundi. The former owners of Polson and MBC have reinvested into the parent holding company and joined the executive committee

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

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

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.