Munich Re Acquires At-Bay, Mobil Tire Completes Pep Boys Purchase, Werewolf and Ambros Merge

New Additions

NEXGEL is reviewing its non-core assets and business structure to improve liquidity and focus resources on key growth areas. A special committee is evaluating options including asset sales, partnerships, restructuring, and potential closure of certain operations, with an initial plan expected within 30 to 45 days.

Ocean Power Technologies, Inc. is exploring strategic alternatives to maximize shareholder value. The company has retained investment bank Bowen, Inc. to advise on the review.

U.S. Gold Corp. has formed a special committee to review potential merger and acquisition opportunities and has engaged advisors to explore financing options for the development of its CK Gold Project in southeastern Wyoming.

SpringBig Holdings completed a restructuring that eliminated approximately $12.5 million in secured debt. The company is exploring strategic alternatives to enhance shareholder value. The company did not disclose specific strategic options under consideration or when the review would be completed. The company said it is weighing multiple opportunities and will provide more details as the process progresses.

Updates

Munich Re agreed to acquire U.S. insurtech company At-Bay for $575 million, expanding its cyber insurance business for small and mid-sized enterprises. The transaction combines At-Bay's cyber coverage and proactive cybersecurity tools with Munich Re's and HSB's insurance capabilities. The deal is expected to close in the first quarter of 2027.

Mitsubishi Electric Corporation has reached an agreement with U.S. enterprise software provider PCI Energy Solutions to acquire the company for $1.4 million. PCI Energy Solutions provides energy management and optimization platforms. The transaction is expected to close in 2026, subject to regulatory approval.

T. Rowe Price Group, Inc. has agreed to acquire F/m Investments LLC. Upon completion, F/m will operate as "F/m Investments, a T. Rowe Price Company." The transaction is expected to close in early 2027, subject to customary filings and closing conditions. Financial terms were not disclosed.

Dover Corporation has agreed to acquire Leistung Engineering Pvt. Ltd., which will become part of OPW Fluid Transfer Solutions, Dover's clean energy and fueling division, upon closing. The transaction is expected to close in the fourth quarter, subject to regulatory approval. Terms were not disclosed.

Veralto, a global leader in water quality and product quality solutions, has acquired Cleanwater1 for $465 million. The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions.

ScanSource, Inc., a technology distributor, has acquired MicroAge for $220 million. The acquisition is expected to close in the quarter ending September 30, 2026, subject to regulatory approval and other customary closing conditions.

Madison Air Solutions Corporation, a global provider of air quality solutions, has agreed to acquire ebm-papst at an enterprise purchase price of $5.4 billion. The transaction is expected to close before year-end, subject to regulatory approval.

Goldman Sachs Group, Inc. has agreed to acquire LCN Capital Partners for approximately $410 million, an investment manager specializing in sale-leaseback, build-to-suit, and triple-net lease real estate market sectors. The transaction is expected to close by the end of 2026, subject to regulatory approval.

Completed Transactions

Mobil Tire Express Services completed its acquisition of Pep Boys-Manny, Moe & Jack Holdings from Icahn Automotive Group for approximately $700 million in cash. Pep Boys will retain its brand identity as part of the Mobil family of brands.

Werewolf Therapeutics, Inc. was among the biggest gainers in the market on Friday after announcing a $500 million merger with Ambros Therapeutics. The agreement completes a process that began in February, when Werewolf retained Piper Sandler to explore a sale or merger to enhance shareholder value.

Bankruptcy Filings

New York retail energy supplier Northeastern Power and Gas LLC has filed for Chapter 11 bankruptcy protection, with approximately $2 million in assets and $6.9 million in disputed creditor claims. The company reported estimated assets and liabilities between $1 million and $10 million, with 1 to 49 creditors.

Texas telecommunications infrastructure contractor Barrington & Burdette LLC has filed for Chapter 11 bankruptcy protection, seeking to restructure its finances. According to court documents, the company reported assets between $500,000 and $1 million, and liabilities between $1 million and $10 million.

Tampa Bay area company Gulfside Windows, Doors & More LLC, which provides impact-resistant windows and doors for homeowners, has filed for Chapter 11 bankruptcy protection due to financial difficulties. Court filings show the company listed assets between $100,001 and $500,000, and liabilities between $1 million and $10 million.

California truck accessory retailer Bedliner Kingdom Inc. has filed for Chapter 11 bankruptcy protection. The company reported assets between $100,000 and $500,000, and liabilities between $1 million and $10 million.