KESTREL VISION acquired by LUXEMPART

Patelec Group has acquired a majority stake in FCM srl to strengthen its industrial capacity and expand its product range in wiring and industrial automation. The operation is carefully structured to ensure absolute operational and strategic continuity, with the original founding siblings retaining a significant minority shareholding and remaining actively involved in the enterprise's daily management. Following a previous major acquisition in the sector, this new integration marks a crucial milestone in Patelec Group's ongoing consolidation roadmap. The primary strategic rationale underpinning this partnership is to drastically strengthen the combined entity's industrial manufacturing capabilities and massively broaden the comprehensive suite of integrated electrical and automation services offered to their combined client base.

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. By incorporating this technical leader, the organization significantly reinforces its position in high-growth, resilient end markets such as health and nutrition. The partnership is designed to leverage the acquirer’s industrialized scale and procurement resources to accelerate the target’s international development. This integration facilitates the creation of a differentiated global champion in fluid handling, providing the strategic depth and technical operational depth required to address complex global industrial challenges. This move solidifies the group’s standing as a primary enabler of technological advancement in the process technology sector.

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 deal is expected to close in the first half of 2026, subject to customary regulatory approvals. The acquisition will allow Flexitallic to leverage Michelin's global R&D and industrial capabilities to accelerate its growth in new markets.

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. For the seller, the operation allows for a definitive structural refocusing on its core microfluidics and mass cytometry divisions, while establishing a formidable capital position for future inorganic growth. The maneuver optimizes the group’s financial profile by offloading the intensive capital requirements of the proteomics services division and retaining a long-term royalty interest in future product developments. For the acquirer, the integration facilitates the scaling of proteomic-informed genomics, sharpening its focus on high-value applications in pharmaceutical R&D and clinical monitoring. Ultimately, the partnership solidifies the combined entity’s standing as a primary provider of multi-omic innovation, bridging the gap between sophisticated laboratory-scale diagnostics and industrialized scientific discovery standards.

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.

VELEC Group acquired COMEA PROCESS to leverage technical and commercial synergies. The deal allows COMEA to benefit from VELEC's strong international presence and US subsidiaries. The transaction includes the retirement of the majority shareholder and the reinvestment of the Managing Director into the VELEC Group.

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. Furthermore, the integration of Ballestra provides NEXTCHEM with immediate access to a significant consolidated backlog, which was expected to exceed €315 million by the end of 2025. The deal is expected to create substantial cross-selling opportunities with MAIRE’s sister company, Tecnimont, particularly for large-scale energy transition and material transformation projects worldwide.

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.

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. For CVC, the acquisition represents a rare opportunity to acquire a global leader in the security technology space with high barriers to entry and an attractive financial profile, including a 16.3x operating profit multiple. The combined divestments of Detection and Interconnect represent a total enterprise value of £3.3 billion, effectively unlocking the group's "sum-of-the-parts" value.

The global process technology leader has successfully finalized a definitive agreement to acquire the total share capital of the target from a UK-based private equity firm. This strategic transaction represents a definitive move to incorporate specialized "severe service" valve solutions into the group’s broader Flow Control business area. The strategic rationale for the move centers on the acquirer’s objective to broaden its technical operational depth in demanding industrial applications, including sub-sea and high-pressure chemical processing. By incorporating these technical specialists, the organization reinforces its ability to deliver lasting customer value across the entire asset lifecycle. The partnership is designed to leverage the acquirer’s extensive global network to increase service penetration within the target’s large installed base of blue-chip industrial clients. This integration facilitates the creation of a more robust mission-critical valve platform, providing the strategic depth required to navigate the rapid evolution of the energy and mining sectors. The move solidifies the group’s standing as a primary enabler of process reliability and technological modernization in the global flow control market.