The Daily Buyout

Wednesday, September 30, 2026

The Daily Buyout

57 deals · $14.3B announced

District energy stole the show this morning, with Harrison Street and Kenon teaming up to buy Vicinity from Antin at a $2.92 billion valuation. Hormel wrote a $1.055 billion check for chicken, TransDigm closed a deal of almost exactly the same size, and a battery maker took its unwanted bid public. Here's the full slate.

Top deal of the day

Harrison Street and Kenon buy Vicinity Energy from Antin at $2.92B value

$2.9BPrivate equity buyoutEnergy & Utilities

Harrison Street Asset Management agreed to acquire a majority equity position in Vicinity Energy, the largest U.S. district energy provider, from Antin Infrastructure Partners, valuing the platform at a $2.92 billion enterprise value. Kenon Holdings is taking a 25% stake for roughly $450 million alongside Harrison Street funds, with lenders committing up to $1.4 billion of non-recourse debt. Boston-based Vicinity serves 700-plus customers across about 1,000 buildings in 12 cities.

Why it matters: District heating and cooling networks have become prized core infrastructure assets as cities look to decarbonize aging urban steam systems.

Read at GlobeNewswireFree
2
$1.1BStrategic acquisitionConsumer & Retail

Hormel Foods to buy Brakebush Brothers for $1.055B

Hormel Foods agreed to acquire Brakebush Brothers, a value-added chicken company, from the Brakebush family for approximately $1.055 billion. The deal is expected to close in the first quarter of Hormel's fiscal 2027, subject to regulatory approval. Hormel says the century-old business will expand its foodservice platform through deeper operator relationships, category expertise and a larger direct sales organization.

Read at PR NewswireFree
3
$1.1BPrivate equity buyoutAerospace & DefenseCompleted

TransDigm closes $1.07B purchase of Prince & Izant from Industrial Growth Partners

Industrial Growth Partners completed the sale of Prince & Izant to TransDigm Group for $1.066 billion, with the transaction closing September 28. The Cleveland-based maker of brazing alloys, precious metal components and clad metal solutions serves aerospace, defense, medical and power generation markets. IGP recapitalized the company in 2022 and more than doubled EBITDA through three add-on acquisitions.

Read at PR NewswireFree
4
~$3.7BreportedTake-privateMaterials & ChemicalsCompleted

Apollo completes take-private of Nippon Sheet Glass

Apollo-managed funds closed their acquisition of Nippon Sheet Glass, the global architectural, automotive and solar glass maker, and launched a new management structure for the company. Apollo says the deal, done with key financial institutions, will strengthen NSG's balance sheet and fund investment in people and technology. NSG's president called the closing the start of a new chapter for the century-old group.

Read at GlobeNewswireFree
5
$114MTake-privateTechnology

Transom Capital to take SoundThinking private at up to $11 a share

Public safety technology company SoundThinking agreed to be acquired by Transom Capital Group via a tender offer of $8.00 per share in cash plus a contingent value right worth up to $3.00 more, for up to $11.00 per share. The upfront price is a 46% premium to the prior close and implies a $114 million enterprise value, rising to about $159 million if the CVR pays out fully. Holders of roughly 33% of shares have agreed to tender.

Read at GlobeNewswireFree
6
$200MStrategic acquisitionFinancial Services

Capitolis to acquire eSecLending for $200M in cash

Fintech firm Capitolis agreed to buy eSecLending, an independent securities lending business, for $200 million in an all-cash deal. eSecLending works with pension funds, insurers and asset managers over a 26-year history, lending securities to major global banks. The purchase is Capitolis' fourth strategic acquisition in five years and adds securities lending to its financial resource optimization platform.

Read at GlobeNewswireFree
7
$4M rival facilityHostile / unsolicited bidIndustrials & ManufacturingRumored

Solidion goes public with unwanted all-cash bid for Flux Power

Solidion Technology said it intends to pursue an all-cash acquisition of Nasdaq-listed Flux Power Holdings and issued an open letter to Flux shareholders after what it described as resistance from Flux's board and management. Solidion acknowledged its non-binding indication of interest is priced below Flux's prior closing price once accounting adjustments are considered, arguing shareholders face dilution from pending stock issuance. It also warned a proposed $4 million financing facility would be worse for holders.

Read at PR NewswireFree
8
100-year Cat dealerStrategic acquisitionIndustrials & Manufacturing

Caterpillar to acquire century-old Cat dealer Fabick

Caterpillar entered into an agreement to acquire John Fabick Tractor Company, a Cat dealer of more than 100 years covering parts of Missouri and Illinois, all of Wisconsin and Michigan's Upper Peninsula. The transaction requires regulatory approval and is expected to close within 30 days. Caterpillar framed the deal as supporting a seamless ownership transition while preserving local service.

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9
$5.7BTake-privateHealthcare & Life Sciences

KKR's $5.7B Integer buyout clears antitrust review early

Integer Holdings said it received early termination of the Hart-Scott-Rodino waiting period for its pending acquisition by an affiliate of KKR-managed funds. The August 2 merger agreement values the medical device CDMO at $127 per share in cash, or roughly $5.7 billion in enterprise value. Shareholders vote at a special meeting on October 21, and the parties still expect to close by the end of 2026 pending other regulatory approvals.

Read at GlobeNewswireFree
10
~$22BreportedMergerTechnology

Skyworks-Qorvo merger clears all regulators, closing set for Oct. 5

Skyworks Solutions said it has received all necessary regulatory clearances for its cash-and-stock combination with Qorvo and expects to close on or about October 5, subject to remaining customary conditions. The deal, first announced in October 2025, pairs complementary RF, analog and mixed-signal portfolios. Related exchange offers for Qorvo's 2029 and 2031 senior notes are conditioned on the mergers closing.

Read at GlobeNewswireFree
11
$728MMergerFinancial Services

Peoples Bancorp to buy Capital Bancorp for $728M in all-stock deal

Peoples Bancorp will acquire Rockville, Maryland-based Capital Bancorp in an all-stock transaction valued at roughly $728.1 million, with Capital Bank merging into Peoples Bank. The combined company would hold about $14 billion in total assets, $10 billion in loans and $11 billion in deposits across more than 150 locations in eight states plus Washington, D.C. Capital brings $3.9 billion in assets and four business lines including OpenSky and Windsor Advantage.

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12
~$130MreportedStrategic acquisitionConsumer & Retail

Choice Hotels drives into RV travel with Harvest Hosts acquisition

Choice Hotels agreed to acquire 100% of Harvest Hosts, an RV travel membership company, from growth equity firm Stripes and other shareholders. Harvest Hosts connects RV travelers with overnight stays at more than 11,200 host locations including wineries, farms and breweries. Choice described the asset-light subscription platform as a complementary extension of its focus on value-minded travelers, noting Choice Privileges members over-index among RV travelers.

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13
~$660MreportedMergerFinancial ServicesCompleted

S-Bank completes tender offer for Finland's Oma Savings Bank

S-Bank Plc has completed its voluntary recommended public cash tender offer for all shares in Oma Savings Bank, with 32,152,993 shares validly tendered by the September 25 deadline. The offer, announced July 9 and supported by the target's board, was supplemented four times during an offer period that began July 17. S-Bank has now commenced a subsequent offer period for remaining holders.

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14
first Fund V exitPrivate equity buyoutConsumer & RetailCompleted

GTCR buys trail-camera maker Tactacam from Bertram Capital

Bertram Capital completed the sale of Tactacam, a Billings, Montana-based maker of cellular-connected outdoor cameras, to GTCR. Terms were not disclosed. Tactacam's REVEAL brand of cellular trail cameras serves hunters and land managers, while its Defend line extends the platform into property security. The exit is the first from Bertram Capital Fund V, the firm's 2023-vintage flagship fund.

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15
~$6BreportedMergerEnergy & Utilities

Trump Media and TAE Technologies file S-4 for all-stock fusion merger

Trump Media & Technology Group and TAE Technologies filed a Form S-4 registration statement advancing their all-stock business combination, agreed in December 2025. TMTG and TAE shareholders would each own roughly 50% of the combined company on a fully diluted basis. TAE develops fusion energy, power management and cancer therapy technologies across three business units, and the merged entity would be among the first publicly traded commercial fusion developers.

Read at GlobeNewswireFree
16
founded 1884Private equity buyoutIndustrials & ManufacturingCompleted

H.I.G. Capital completes buyout of UK safety distributor Arco

H.I.G. Capital, which manages $75 billion in capital, said an affiliate has completed the acquisition of Arco Limited, the UK's leading distributor of safety equipment and a provider of on-site safety services to infrastructure, defense, utilities and healthcare customers. Founded in 1884, Arco plans to broaden its product and service range, invest in digital and pursue bolt-on acquisitions in the UK and abroad. Terms were not disclosed.

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