January 2025 witnessed a significant resurgence in mergers and acquisitions (M&A), signaling a robust start to the year. The month’s activities spanned various industries, reflecting strategic realignments and growth pursuits by major corporations. Below is a detailed overview of notable M&A transactions that took place during this period:
Allstate Divests Group Health Business to Nationwide
On January 31, 2025, Allstate Corporation announced the sale of its Group Health business to Nationwide for $1.25 billion. This strategic divestiture allows Allstate to concentrate on its core property and casualty insurance operations, while Nationwide enhances its health insurance portfolio, aiming to provide comprehensive solutions to its clients.
Serco Inc. Acquires Northrop Grumman’s MT&S Business
On January 30, 2025, Serco Inc. revealed plans to acquire Northrop Grumman’s Mission Training and Simulation (MT&S) business for $327 million. This acquisition is set to bolster Serco’s capabilities in defense training and simulation, expanding its footprint in the defense services sector.
GP Health Service Capital and Shanghai Pharmaceuticals Invest in Shanghai Hutchison Pharmaceuticals
In January 2025, GP Health Service Capital Co. and Shanghai Pharmaceuticals Holding Co. jointly acquired a 45% stake in Shanghai Hutchison Pharmaceuticals Ltd. for $608 million. This investment aims to strengthen their position in the Chinese pharmaceutical market, leveraging Shanghai Hutchison’s established product portfolio and market presence.
DCP Capital Acquires Stake in Sun Art Retail Group
DCP Capital purchased shares in Sun Art Retail Group Ltd. for $1.6 billion in January 2025. Sun Art, a leading hypermarket operator in China, is expected to benefit from DCP Capital’s investment through enhanced operational strategies and expansion initiatives in the competitive retail sector.
World Wide Technology Acquires Softchoice Corporation
World Wide Technology announced the acquisition of Softchoice Corp. for $1.3 billion in January 2025. This move is anticipated to enhance World Wide Technology’s IT solutions offerings, particularly in cloud services and software consulting, by integrating Softchoice’s expertise and client base.
Ontario Teachers’ Pension Plan Invests in Omega Healthcare
In January 2025, the Ontario Teachers’ Pension Plan acquired stakes from Everstone and Goldman Sachs in Omega Healthcare for $1.8 billion. This investment underscores the pension plan’s strategy to diversify its portfolio with assets in the healthcare sector, capitalizing on the growing demand for healthcare services.
KKR & Co. and PSP Investments Acquire Stake in American Electric Power Co.
KKR & Co., in partnership with the Public Sector Pension Investment Board (PSP Investments), acquired a stake in American Electric Power Co. for $2.8 billion in January 2025. This transaction reflects the investors’ confidence in the utility sector and their commitment to supporting infrastructure development.
Stryker Corporation Acquires Inari Medical
Stryker Corporation announced the acquisition of Inari Medical for $4.9 billion in January 2025. This strategic move aims to expand Stryker’s medical device portfolio, particularly in the vascular intervention space, by leveraging Inari’s innovative technologies.
Apollo and BC Partners Invest in GFL Environmental
In January 2025, Apollo Global Management and BC Partners jointly invested $8.0 billion in GFL Environmental’s environmental services business. This investment is expected to support GFL’s growth initiatives and consolidation efforts in the environmental services industry.
Constellation Energy Acquires Calpine Corporation
Constellation Energy announced a $16.4 billion acquisition of Calpine Corporation in January 2025. This deal positions Constellation as a leading clean energy provider by integrating Calpine’s natural gas and geothermal assets into its portfolio.
Clearwater Analytics Acquires Enfusion
Clearwater Analytics acquired Enfusion for $1.5 billion in January 2025. This acquisition aims to enhance Clearwater’s investment management solutions by incorporating Enfusion’s cloud-based portfolio management software.
Wabtec Corporation Acquires Evident’s Inspection Technologies Division
Wabtec Corporation announced the acquisition of Evident’s Inspection Technologies Division for $1.8 billion in January 2025. This move is set to strengthen Wabtec’s position in the rail and transit industries by integrating advanced inspection technologies into its service offerings.
Eli Lilly and Company Acquires Scorpion Therapeutics
Eli Lilly and Company acquired Scorpion Therapeutics for $2.5 billion in January 2025. This acquisition is expected to bolster Eli Lilly’s oncology pipeline with Scorpion’s precision medicine approaches to cancer treatment.
United Rentals Acquires H&E Equipment Services
United Rentals announced the acquisition of H&E Equipment Services for $3.4 billion in January 2025. This transaction aims to expand United Rentals’ equipment rental offerings and geographic presence across the United States.
Johnson & Johnson Acquires Intra-Cellular Therapies
Johnson & Johnson reached a $14.6 billion agreement to acquire Intra-Cellular Therapies in January 2025. This deal enhances J&J’s neuroscience portfolio, particularly with Intra-Cellular’s lead drug, Caplyta, approved for bipolar depression.
Google Acquires HTC’s Extended-Reality (XR) Division
Google announced the acquisition of HTC’s extended-reality (XR) division for $250 million in January 2025. This move is expected to strengthen Google’s position in the augmented and virtual reality markets by leveraging HTC’s expertise in XR technologies.
Generali Investments Acquires MGG Investment Group
Generali Investments acquired MGG Investment Group for $320 million in January 2025. This acquisition aims to enhance Generali’s alternative investment strategies, particularly in private credit markets.
Hindustan Unilever Acquires Minimalist
Hindustan Unilever announced the acquisition of skincare brand Minimalist for $342 million in January 2025. This deal is expected to expand Hindustan Unilever’s presence in the premium skincare segment, leveraging Minimalist’s product innovation and consumer base.
Redwire Corporation Acquires Edge Autonomy
Redwire Corporation announced the acquisition of Edge Autonomy for $925 million. This acquisition is expected to strengthen Redwire’s position in autonomous systems and space technology, leveraging Edge Autonomy’s expertise in unmanned systems and AI-driven surveillance solutions.
AM Green Power B.V. Acquires Greenko Energy Holdings
AM Green Power B.V. invested $1.5 billion to acquire a stake in Greenko Energy Holdings. This deal underscores the growing investment in renewable energy, as Greenko focuses on hydropower, solar, and battery storage solutions in India.
Nationwide Acquires Allstate Corporation’s Employer Stop-Loss Segment
Nationwide expanded its health insurance business by purchasing Allstate Corporation’s employer stop-loss segment for $1.25 billion. This move strengthens Nationwide’s position in the employer-sponsored health insurance market.
Diversified Energy Acquires Maverick Natural Resources
Diversified Energy completed a $1.275 billion acquisition of Maverick Natural Resources, a key player in oil and gas production. This acquisition is expected to enhance Diversified Energy’s portfolio by adding mature, low-decline assets.
AAM Acquires Dowlais Group
AAM (American Axle & Manufacturing) acquired UK-based Dowlais Group for $1.44 billion. This acquisition is aimed at expanding AAM’s presence in the global automotive supply chain, particularly in electric vehicle (EV) components.
PureHealth Holding PJSC Acquires Stake in Hellenic Healthcare Group (HHG)
PureHealth Holding PJSC acquired a $2.3 billion stake in Hellenic Healthcare Group, one of Greece’s largest healthcare providers. This move aligns with PureHealth’s strategy to expand its footprint in international healthcare markets.
Emerson Electric Co. Acquires AspenTech
Emerson Electric Co. completed its $7 billion acquisition of AspenTech, a leading provider of industrial software solutions. This acquisition is expected to enhance Emerson’s automation capabilities, particularly in process industries like energy and chemicals.
Enlink Midstream LLC and Enlink Midstream Partners LP Merge
On January 30, 2025, Enlink Midstream LLC (ENLC) announced a merger with Enlink Midstream Partners LP (ENLK). The deal is aimed at streamlining operations and optimizing Enlink’s midstream energy infrastructure.
Apollo Global Management Acquires Barnes Group Inc.
Apollo Global Management announced the acquisition of Barnes Group Inc. on January 24, 2025. This deal is expected to enhance Apollo’s industrial manufacturing and aerospace investments.
Aperam Acquires Universal Stainless & Alloy Products Inc.
On January 22, 2025, Aperam, a global leader in stainless and specialty steel, acquired Universal Stainless & Alloy Products Inc. (USAP). This acquisition strengthens Aperam’s presence in the North American market for specialty steel.
Vista Equity and Blackstone Acquire Smartsheet Inc.
On January 21, 2025, Smartsheet Inc. was acquired by Vista Equity Partners and Blackstone Inc. This deal, involving two major private equity firms, reflects continued investor interest in workflow automation and productivity software.
First Majestic Silver Corp Acquires Gatos Silver Inc.
First Majestic Silver Corp completed the acquisition of Gatos Silver Inc. (GATO) on January 15, 2025. This move enhances First Majestic’s silver production capacity and expands its mining assets in North America.
Core Natural Resources Acquires Arch Resources Inc.
Core Natural Resources (CNR) announced the acquisition of Arch Resources Inc. (ARCH) on January 13, 2025. This deal further consolidates the U.S. coal industry and expands Core’s operational footprint.
Blue Owl Capital Corp III Merges with Blue Owl Capital Corp
Blue Owl Capital Corp III (OBDE) and Blue Owl Capital Corp (OBDC) merged on January 10, 2025. The transaction aims to streamline operations and improve efficiency across Blue Owl’s investment management businesses.
Roche Holding Ltd. Acquires Poseida Therapeutics Inc.
Roche Holding Ltd. (RHHBY) acquired Poseida Therapeutics Inc. (PSTX) on January 7, 2025. The deal is expected to bolster Roche’s gene and cell therapy pipeline, particularly in oncology and rare diseases.
Koito Manufacturing Co. Acquires Cepton Inc.
Koito Manufacturing Co. Ltd. (KOTMY) completed its acquisition of Cepton Inc. (CPTN) on January 6, 2025. This move enhances Koito’s capabilities in automotive LiDAR technology for advanced driver-assistance systems (ADAS).
Strategic Value Partners Acquires Revelyst Inc.
On January 3, 2025, Strategic Value Partners LLC acquired Revelyst Inc. (GEAR), expanding its portfolio in distressed asset management.
Steel Partners Holdings Acquires Steel Connect Inc.
Steel Partners Holdings LP (SPLP) finalized its acquisition of Steel Connect Inc. (STCN) on January 2, 2025, strengthening its industrial and logistics holdings.
Ceco Environmental Corp Acquires Profire Energy Inc.
Ceco Environmental Corp (CECO) acquired Profire Energy Inc. (PFIE) on January 2, 2025. This deal is expected to enhance Ceco’s environmental and energy efficiency solutions in industrial applications.