Divestiture News

AUBURN HILLS, Mich.--(BUSINESS WIRE)--PHINIA Inc. (NYSE: PHIN), a leader in premium fuel systems, electrical systems, and aftermarket solutions, today reported results for the first quarter ended March 31, 2025. First Quarter Highlights: Net sales of $796 million, a decrease of 7.8% compared with Q1 2024. Excluding the decreases related to foreign currency and contract manufacturing agreements that ended in 2024, $16 million and $17 million, respectively, sales decreased $34 million or 4.1%, dr...

CHANTILLY, Va.--(BUSINESS WIRE)--Amentum (NYSE: AMTM) today announced it has entered into a definitive agreement to sell its hardware and product business, Rapid Solutions, to Lockheed Martin (NYSE: LMT) for $360 million in cash. The transaction, which is subject to customary regulatory approvals and closing conditions, will advance Amentum’s strategy as a pure-play provider of technology-enabled solutions and accelerates its debt reduction objectives. “The divestiture of Rapid Solutions sharpe...

DALLAS--(BUSINESS WIRE)--Crux Capital Announces Sale of Superscapes to TZP Group and GCP Capital Partners...

HOUSTON--(BUSINESS WIRE)--Crescent Energy Company (NYSE: CRGY) (“Crescent” or the “Company”), today announced the closing of the sale of non-operated Permian Basin assets to a private buyer for $83 million in cash, subject to customary post-closing purchase price adjustments. The assets are located in Reeves County, Texas and had projected full-year 2025 production of approximately 3 Mboe/d (~35% oil). Proceeds from the sale will be used to reduce outstanding borrowings on the Company’s revolvi...

LANSING, Mich.--(BUSINESS WIRE)--Neogen Corporation (NASDAQ: NEOG), an innovative leader in food safety solutions, announced today it has entered into a definitive agreement to sell its global cleaners and disinfectants business to Kersia Group (“Kersia”), a global leader in biosecurity, disinfection and hygiene solutions, for $130 million in cash at closing plus contingent consideration tied to the future performance of the business. The transaction is expected to be accretive to margins and c...

MIAMI--(BUSINESS WIRE)--Trivest Partners LP (“Trivest” or the “Firm”), a leading private equity firm focused on investing in founder- and family-owned businesses, today announced that Trivest Growth Investment Fund (“TGIF”) has completed the sale of its portfolio company Epika Fleet Services, Inc. (“Epika” or the “Company”) to an Ares Private Equity fund (“Ares”). Trivest originally partnered with Epika through a minority investment in December 2018. Terms of the transaction were not disclosed....

ATLANTA--(BUSINESS WIRE)--Global Payments Inc. today announced definitive agreements to divest its Issuer Solutions business to FIS and acquire Worldpay from GTCR and FIS....

DENVER--(BUSINESS WIRE)--Newmont Completes Its Non-core Divestiture Program With the Sale of Akyem and Porcupine...

BOSTON--(BUSINESS WIRE)--Jones Street Investment Partners (“Jones Street”), a private equity real estate firm specializing in multifamily investments across the Northeast and Mid-Atlantic regions of the U.S., today announced the successful disposition of three multifamily properties—located in Albany, NY, Hanover, MA, and Norton, MA—through separate sale transactions totaling $159.5 million in gross proceeds. Each asset was acquired as a core-plus investment and benefited from strong regional d...

ST. LOUIS--(BUSINESS WIRE)--Bunge Global SA (NYSE:BG) has entered into definitive agreements to sell its North America dry corn and corn masa milling businesses to Grain Craft, one of the largest independent flour millers in the U.S. This transaction includes Bunge facilities in Danville, Illinois; Worthington, Indiana; Crete, Nebraska; Red Oak, Iowa; Muleshoe, Texas; Atchison, Kansas; and Queretaro, Mexico. Bunge’s Co-President, Agribusiness, Julio Garros commented, “We carefully considered ho...