Acquisitions register

Ochre Health Pty Limited (Ochre Health) proposes to acquire the business and all of the assets of the Telegraph Road Clinic (TRC) in Bracken Ridge, Queensland, through a business and assets acquisition agreement (the Acquisition). 

The acquirer, Ochre Health, supports independent doctors to provide general practice medical services in regional, rural and urban communities around Australia. Ochre Health currently operates 68 medical centres and urgent care clinics located in the ACT, NSW, Queensland, Tasmania and Victoria, but currently does not operate any medical centres or urgent care clinics within 10km of TRC in Bracken Ridge, Queensland. Ochre Health Group’s medical recruitment business, Ochre Recruitment, also works with hospitals and medical practices across Australia and NZ to source and place locum and permanent doctors across a range of specialities. 

Ochre Health is majority owned and controlled by Genesis Capital (Genesis), an Australian-based private equity firm that invests in businesses operating in the healthcare sector. Genesis’s investments also include Holdsworth House Medical Group (Holdsworth House), which operates a general medical practice in Fortitude Valley, Brisbane and another general medical practice in Sydney which is co-located with a medical research centre, specialist medical clinic and dentistry clinic.

The target, TRC, is a family medical practice providing comprehensive general practice medical care from its clinic located in the Bracken Ridge Plaza, Shop 26, 250 Telegraph Road, Bracken Ridge, Queensland, and home visits to nearby patients (within a 3km radius of the clinic). TRC is owned and operated by Telegraph Road Medical Services Pty Ltd as trustee for Telegraph Road Medical Services Unit Trust.

MA Marina Fund Holdco Pty Ltd and MA Marina Fund TT Pty Ltd (together, the Acquirers) propose to acquire 100% of the real property and business assets (both tangible and intangible) of the Gold Coast City Marina (Gold Coast City Marina). The Acquirers are indirectly solely controlled by funds managed by MA Financial Group Limited (MA Financial).

The Acquirers are part of the MA Marina Fund, managed by entities held by MA Financial, which invests in and operates marinas. The MA Marina Fund currently operates a portfolio of 16 marinas located along Australia’s eastern seaboard under the ‘d’Albora’ brand (MA Marina Portfolio). The MA Marina Portfolio includes 2 marinas in south-east Queensland – the Pacific Point Marina in Steiglitz on the Gold Coast, and the East Coast Marina in Manly, Brisbane.

Each marina in the MA Marina Portfolio operates as an integrated marina services facility combining vessel storage, maintenance and associated commercial uses. Marinas in the MA Marina Portfolio typically provide wet berthing and other ancillary marina services including dry storage, boatyard storage, marine workshop and industrial leasing, and marine fuel.

The Gold Coast City Marina is a full-service marina and marina industrial facility located in Coomera, Queensland. It provides wet berthing and other ancillary marina services including dry storage, boatyard storage, marine workshop and industrial leasing and marine fuel.

Origin Energy International Holdings Pty Ltd (a wholly owned subsidiary of Origin Energy Limited) (Origin) is participating in a series of related transactions which are being effected to achieve the spin off of the Kraken technology business, operated by Kraken Technologies Limited and its related companies (Kraken), from Octopus Energy Group Limited (OEGL). 

Origin Energy Limited is an ASX-listed integrated energy company which, relevantly in this context, engages in the retail supply of electricity and gas as well as broadband services in Australia. Origin has an existing interest in OEGL. OEGL, together with its related bodies corporate (Octopus Energy), is a UK‑based global energy retailer and energy services provider. While it operates retail businesses internationally, Octopus Energy is not a direct retail supplier in Australia.

Kraken is a technology provider, wholly owned by OEGL, that develops and licenses a proprietary retail and operations platform, called “the Kraken platform”. The platform is used by utility providers globally to manage billing, customer service, distributed energy resources and operational processes.

The acquisition is one of a series of transactions being entered into to enable the demerger to take place and Kraken to raise equity from new investors. In substance, the acquisition:

• maintains the economic interest which Origin currently holds in Kraken and OEGL; and

• removes and irrevocably waives the exclusivity which Origin previously held in respect of the Kraken platform in Australia.

Following the demerger of Kraken from Octopus Energy (under which existing OEGL shareholders will receive direct shares in Kraken Technologies Global Group Limited (DemergerCo)), the following transactions will be implemented in respect of Kraken:

• In connection with the demerger of Kraken, US$1 billion in equity will be raised in Kraken’s first standalone raising, supporting the separation from Octopus Energy (targeting first half of 2026);

• in order to maintain its existing economic interest, Origin will:

  • acquire approximately US$140 million (~AUD$210 million equivalent) in Kraken shares from another existing shareholder (CPP Investment Board Private Holdings (4) Inc.); and

  • be issued with an additional 1.5% equity interest in Kraken in exchange for agreeing to delete and remove Origin’s exclusivity to the Kraken platform in Australia.

Intrepid Travel Pty Ltd (Intrepid Travel) proposes to acquire 100% of the share capital in Wild Bush Luxury Experience Pty Ltd (Wild Bush Luxury), together with the transfer of relevant intellectual property rights and employees. Wild Bush Luxury is currently held by Experience Co Limited. 

Intrepid Group Pty Ltd (IG) is a global, purpose-led experiential travel company, specialising in small group tours and travel experiences. IG has 31 offices around the world and operates more than 1,000 small group adventures in 118 countries. Intrepid Travel is a subsidiary of IG. 

Wild Bush Luxury is a boutique Australian tourism operator that manages and operates the ‘The Maria Island Walk’ (in Tasmania), ‘Arkaba Walk’ (in South Australia), ‘Arkaba Homestead’ (in South Australia), and ‘Bamurru Plains’ (in the Northern Territory). 

The acquirer, Idemitsu, is a Japanese company oil-refining and marketing company. It has been involved in the development, production, and sale of coal at several mines in Australia. Idemitsu currently operates the Boggabri Coal Mine in NSW. Idemitsu has invested in lithium and vanadium development companies, renewables and acquired a fuel oil retail business. 

MidOcean Energy is a global liquid natural gas (LNG) platform formed and managed by EIG Partners in 2023. In Australia, MidOcean holds minority interests in the Queensland Curtis LNG Project, Gorgon LNG Project and Pluto LNG Project. These projects are involved in the extraction and production of natural gas and LNG.

Lighthouse Service Partners Holdco Pty Ltd, through its subsidiary Lighthouse Service Partners Bidco Pty Ltd (together, Lighthouse), proposes to acquire 100% of the issued share capital in Precise Plumbing Pty Ltd (Precise Plumbing), SA Pipe Relining Pty Ltd (SAPR) and Precise Trade Services Pty Ltd (PTS) (together, Precise Services Group) from its current shareholders.

Lighthouse’s investment structure focuses on acquisitions and investments in home services businesses across plumbing, heating ventilation and air conditioning (HVAC), electrical and related trades in Australia (together, “integrated building services”). Lighthouse is ultimately owned by Alpine Investors, a private equity firm headquartered in San Francisco, California.

Lighthouse owns Ken Hall Holdings Pty Ltd which operates in the Greater Adelaide region and predominantly provides residential integrated building services, including plumbing, electrical, HVAC, roofing, tiling, bathroom renovations, handyman services, and related home maintenance services.

The Precise Services Group companies provide trade services to residential and commercial customers across the Greater Adelaide region, including:

• Precise Plumbing provides integrated building services to predominantly residential customers in respect of plumbing, electrical, HVAC, bathroom renovations and handyman services; and

• SAPR provides plumbing services to residential and commercial customers and specialises in pipe relining.

• PTS is a shared service entity which is a cost centre for PPE and SAPR

The Acquisition is a private equity financial investment concerning the acquisition of DSM-Firmenich AG’s Animal Nutrition & Health business (the Target) by the following newly formed companies: 

1. Specialty Bidco B.V.;
2. Specialty (U.S.) Bidco, Inc.;
3. Essential Bidco B.V.; and
4. Essential (U.S.) Bidco, Inc. 

These companies are all indirectly controlled by funds advised or managed by affiliates of CVC Capital Partners plc (CVC Capital Partners), a public limited company incorporated in Jersey and listed in Amsterdam.

The CVC Network is a global alternative investment manager focused on private equity, credit, infrastructure and secondaries, and includes CVC Capital Partners, each of its subsidiaries, and the CVC Funds.

The seller is DSM B.V., a private limited liability company incorporated in the Netherlands and part of DSM-Firmenich AG. The Target is a global provider of science-based animal nutrition and health solutions for livestock producers and feed manufacturers. Its global activities span: 

1. vitamins and carotenoids;
2. premixes; 
3. performance solutions; 
4. aroma ingredients; and
5. precision services.

Investment funds managed or advised by affiliates of KPS Capital Partners, LP (KPS) propose to, indirectly through Three Rivers Purchaser, LLC (Three Rivers), acquire sole control of Jennmar Super Holdings, LLC and Jennmar Intermediate Holdings, Inc. and their respective subsidiaries and joint ventures (collectively, Jennmar) from funds managed or advised by affiliates of Falcon Point Partners and trusts held by or for the benefit of Mr Calandra or family members thereof (collectively, the Sellers). The Sellers will each indirectly acquire non-controlling, minority interests in Three Rivers. 

In Australia, Jennmar manufactures and supplies steel and chemical ground support products for use in underground mining and tunnelling such as rock bolts, cable bolts, plate, and related products such as mesh, resins and grout. 

KPS is a US private investment company. Through its affiliated management entities, it is the manager of the KPS Special Situations Funds. The partners of KPS work to realise significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing.

Discovery Holiday Parks Pty Limited (Discover Holiday Parks), a wholly-owned subsidiary of Discovery Parks Holdings Pty Limited (Discovery Parks Holdings), proposes to acquire the business of operating and managing "Habitat Noosa Everglades Eco Camp" (Habitat Noosa).

Habitat Noosa is an integrated hospitality business comprising accommodation options for backpackers, couples and families; a 200 seat bar and bistro with an on site micro brewery; and Noosa Everglades eco safari boat tours. Associated brands include Everglades Eco Safaris, Kangarooms Noosa Everglades, Eco Brewing Co and Coothara Bar.

Discovery Holiday Parks, under its trading names Discovery Parks and Discovery Resorts, owns and operates over 90 accommodation offerings throughout Australia. Discovery Holiday Parks provides short-stay holiday accommodation, worker accommodation, and long-stay accommodation, as well as tours and food and beverage services within the tourism and hospitality industry. Discovery Holiday Parks does not have a presence in Noosa, Queensland or on the Sunshine Coast – its nearest property is in Hervey Bay.

DPG Services Pty Ltd (DPG) and OHCA Property Holdings Pty Ltd (OHCA) (being related bodies corporate, and together referred to as Opal Healthcare) propose to acquire the land, assets and business comprising the Greenwich Place residential aged care home located in Greenwich, Sydney (Greenwich Place) (Acquisition). 

DPG is a registered provider of approved residential care homes and owns and operates 145 residential aged care homes across New South Wales, Victoria, Queensland, Western Australia and South Australia. 

Greenwich Place is a privately-owned, single approved residential care home with 90 beds, located at 33 Greenwich Rd, Greenwich in New South Wales. Greenwich Place provides the services required under the Aged Care Act 2024 (Cth), including permanent care, respite care and palliative care. 

The Acquisition will involve: 

• DPG acquiring the assets comprising the Greenwich Place business from Greenwich Place Pty Ltd, Greenwich Care Pty Limited and Stamen Greenwich Property Ltd; and

• OHCA acquiring the land on which Greenwich Place is operated from Stamen Greenwich Property Pty Ltd. 

There is a competitive overlap between Opal Healthcare’s activities and the activities of the target, Greenwich Place, in Sydney. 

Gilead Sciences, Inc. (Gilead), through its wholly owned subsidiary Ravens Sub, Inc. (Ravens Sub) proposes to acquire all the outstanding shares of Arcellx, Inc. (Arcellx) via a public cash tender offer. Following consummation of the offer, Ravens Sub will be merged with Arcellx, and Arcellx will continue as the surviving corporation and a wholly owned subsidiary of Gilead.

Gilead is a biopharmaceutical company incorporated in the United States with headquarters in Foster City, California. Globally, Gilead’s activities focus on advancing medicines to prevent and treat life-threatening diseases, including HIV, liver disease, coronavirus disease 2019 (COVID-19), inflammation and cancer. Its primary subsidiary in Australia is Gilead Sciences Pty. Ltd., through which Gilead supplies Australian customers with a range of medicines, including, but not limited to cell therapies for oncology indications. 

Arcellx is a clinical-stage biotechnology company incorporated in the United States, with headquarters in Redwood City, California. It is focused on developing immunotherapies for patients with cancer and other incurable diseases. 

Arcellx’s most advanced development program is a D-Domain-based chimeric antigen receptor T‑cell (CAR-T) therapy that targets the B-cell maturation antigen (or BCMA) for treatment of multiple myeloma. This technology is now called anitocabtagene autoleucel or anito-cel.

Gilead’s wholly owned subsidiary, Kite, and Arcellx co-develop and co-commercialise anito-cell and potential future next-generation autologous and non-autologous CAR-T cell therapy products for the treatment of multiple myeloma. Outside the United States, Gilead has the exclusive right to apply for regulatory approval, manufacture and commercialise any anito-cel products developed as cancer treatments, including for indications resulting from other clinical trials. Five of the locations for a Phase 3 clinical trial are in Australia (Royal Prince Alfred Hospital and Royal North Shore Hospital in New South Wales, Royal Adelaide Hospital in South Australia, Epworth HealthCare in Victoria, and Sir Charles Gairdner Hospital in Western Australia). 

Gilead’s blood cancer treatment products marketed in Australia are Yescarta (Anti-CD19 CAR-T), Tecartus (Anti-CD19 CAR-T), and Zydelig (P13K inhibitor). Gilead does not have any manufacturing or R&D facilities in Australia. It runs clinical trials in Australia and employs an operations team to support those trials.

Arcellx’s operations are limited to the United States, it has not generated revenues from the sale of products in Australia (or anywhere else) to date, and its only indirect nexus to Australia is limited to the clinical trials exclusively run by Gilead. Its clinical and pre-clinical programs are narrowly focused on specific types of cell therapies, mainly for the treatment of cancer, and primarily, blood cancers. 

CVC Capital Partners plc (CVC Capital Partners) proposes to indirectly acquire 100% of the shares in Marathon Asset Management, LP, Marathon GP Holdings I, LLC and Marathon GP Holdings II, LLC (together, Marathon Asset Management) (the Acquisition).

CVC Capital Partners is listed on the Euronext Amsterdam Stock Exchange and is part of the CVC Network, a global private equity and investment advisory firm that provides investment advice to and/or manages investments on behalf of certain funds and investment vehicles with assets under management (AuM) globally. The CVC Network manages AuM across private equity, credit, secondaries and infrastructure. It holds interests in a range of industries, including energy, renewables, transportation, chemicals, utilities, manufacturing, retail and distribution. CVC Capital Partners has interests in Etraveli Group AB, a flight online travel agency (OTA), and in companies which provide pharmaceutical packaging, excipients and specialty chemicals, being Syntegon Technology GmbH, DFE Pharma GmbH & Co. KG, and Cohizon Life Sciences Limited.

Marathon Asset Management is a New York-based global asset manager focused on liquid (public) and private credit. In addition to its credit asset management and advisory activities, Marathon Asset Management-advised funds and accounts hold equity stakes in a small number of companies and own and lease out numerous assets. Marathon Asset Management has an interest in Auto Europe Group, a car rental OTA business and in Kaléo Inc, a pharmaceutical manufacturer of auto-injector drug delivery systems for epinephrine and naloxone, which are used to treat anaphylaxis, or severe allergic reactions, and opioid overdoses respectively.

Both CVC Capital Partners and Marathon Asset Management supply asset management services, specifically in credit asset management, globally. 

Admiral AU Bidco Pty Ltd (Admiral Bidco) intends to acquire 100% of the Eptec Defence Solutions (EDS) business by acquiring 100% of the issued shares in Eptec Holdco Pty Ltd and, indirectly, its subsidiaries Eptec Marine Pty Ltd and Eptec Bidco Pty Ltd (together the Target Group), from the current shareholders (the Acquisition). 

Admiral Bidco is a newly established fund that is ultimately controlled by Arlington Capital Partners (ACP), a US-based private equity investment firm that acquires, manages, and grows portfolio companies in sectors such as defence & aerospace, government & technology, healthcare, and business services software.

Eptec Group carries on two businesses in Australia: EDS and Eptec Infrastructure Solutions. EDS specialises in the maintenance, preservation, and remediation of naval vessels and defence infrastructure. Prior to the Acquisition, the Eptec Group will be restructured so that the Eptec Infrastructure Solutions business will be transferred out of the Target Group and retained by the seller.

Henkel AG & Co. KGaA, through its subsidiary Henkel Global Supply Chain B.V. (Henkel), proposes to acquire all the shares in and sole control of Stahl Parent B.V. (together with subsidiaries, Stahl) from Stahl Group S.A., which is indirectly controlled by affiliates of Wendel S.E. (Wendel).

Wendel is headquartered in Paris, France, and is a private assets-focused investment firm listed at the Euronext Paris stock exchange. 

Henkel is a German public company listed on the Frankfurt Stock Exchange, headquartered in Düsseldorf. It is active worldwide through its Adhesive Technologies business and Consumer Brands business.

Henkel’s Adhesive Technologies business is a producer of adhesives, sealants and functional coatings for industrial customers, consumers and craftsmen. Its Adhesive Technologies brands available in Australia include Loctite, Teroson, Bonderite, Clingtape, Technomelt, Aquence and Pritt. Henkel’s Consumer Brands business offers a diverse portfolio of consumer brands with a focus on Laundry & Home Care and Hair Care. Its consumer brands include Persil, Schwarzkopf, Perwoll, Syoss, Somat and Bref.

Stahl is a manufacturer of specialty coatings for flexible materials headquartered in the Netherlands. With subsidiaries in Europe, Asia, and the Americas, the company is active worldwide. Its portfolio comprises leather finishing coatings, performance coatings, and packaging coatings, serving customers mainly in mobility (automotive and aviation interiors), packaging, fashion & lifestyle, and home furnishing industries.

Regent Motors Pty Ltd (Regent Motors Group) proposes to acquire a portfolio of franchised automotive dealerships and associated real property located in Mandurah, Western Australia, currently operated by WA Automotive Pty Ltd, controlled by the Lane Group (the Vendor) (the Acquisition).

Regent Motors Group is a wholly Australian-owned automotive retail group headquartered in Perth, Western Australia. Regent Motors Group owns and operates franchised motor vehicle dealerships across Western Australia and the Northern Territory, supplying new and used motor vehicles across a range of OEM brands including Ford, Toyota, Hyundai, Suzuki, BMW, Mini, MG, Geely, GMSV, Isuzu Ute, Subaru, and Volkswagen. Regent Motors Group also provides vehicle servicing and repairs, genuine parts and accessories, fleet sales and service, and facilitates finance, insurance, and aftercare products in connection with vehicle transactions.

The target businesses comprise six franchised retail dealerships and associated storage facilities at the following Mandurah locations:

• 113 Pinjarra Road (Ford);

• 115 Pinjarra Road (Mitsubishi);

• 117 Pinjarra Road (Hyundai);

• 8 Randall Street (Kia);

• 53 Pinjarra Road (Nissan);

• 55 Pinjarra Road (Suzuki); and

• storage premises at 24, 26 and 23 Boundary Road.

The target businesses supply new and used motor vehicles for those brands, together with vehicle servicing and repairs, parts and accessories, fleet services, and finance and insurance facilitation.

The Acquisition will be effected through the purchase of the relevant business assets, franchise agreements, and real property associated with each site.

Rosewood AG, LP, a Guernsey limited partnership (indirectly owned by the Eighth Cinven Fund) proposes to acquire voting rights in Collagen Holdings, LLC (trading as Regenity) (the Acquisition). 

The Eighth Cinven Fund is indirectly managed and controlled by Cinven Limited. Cinven Limited has exclusive authority to make investment and management decisions for Eighth Cinven Fund. 

Eighth Cinven Fund and Cinven Limited are part of Cinven. Cinven is a private equity firm engaged in the provision of investment management and investment advisory services to a number of investment funds. The controlled companies in Cinven’s portfolio of investments are active in a variety of sectors including business services, consumer, financial services, healthcare, industrials and technology, media and telecommunications. 

The Acquisition will result in Cinven Limited and the existing investor, Linden Capital Partners, having joint control of Regenity.

Linden Capital Partners is a Chicago-based private equity firm focused exclusively on the healthcare industry.

Regenity is a global developer and manufacturer of bioresorbable technologies. The company is headquartered in Paramus, New Jersey.

The transaction involves the acquisition by Migaloo QLD Pty Ltd, a subsidiary of Star Consolidated Holdings Pty Ltd and its controlled entities (Star Hotels Group), of:

• the leasehold interest in the land that the Liquor Legends Berserker and Liquor Legends Highway A1 stores operate on; and

• business assets including goodwill, fixtures, fittings and all licences involved with the Liquor Legends Berserker and Liquor Legends Highway A1 stores.

The Star Hotels Group is an independently owned and operated hospitality group, primarily operating pubs along the eastern seaboard of Queensland with 4 venues in South Australia. It operates multiple licensed venues and liquor retail outlets under brands such as Star Liquor, Sense of Taste and Bob’s Bulk Booze, as well as accommodation at selected venues.

Liquor Legends Berserker and Liquor Legends Highway A1 are bottle shop businesses which are located at 169 High Street, Berserker, QLD 4701 and 86 Derby Street, Rockhampton, QLD 4700, respectively. These outlets sell a range of alcoholic beverages to retail customers. Liquor Legends Berserker and Liquor Legends Highway A1 Liquor are currently owned and operated by The Trustee for The Garden Holdings Trust.

IBWM Pty Ltd (IBWM), a subsidiary of Ironbark Investment Partners Pty Ltd (Ironbark), will acquire 40% of the shares on issue in Viola Group Holdings Pty Ltd (Viola Group). Viola Group is the parent company of Viola Finance Pty Ltd, Viola Private Holdings Pty Ltd, Viola Services Pty Ltd and Viola Private Wealth Pty Ltd (Viola).

Ironbark has a business division which provides financial advice to retail and wholesale clients. Viola Group focuses on private wealth and high net worth clients.

Adobe Inc. (Adobe) through a newly incorporated direct wholly owned subsidiary, Fenway Merger Sub, Inc. (Merger Sub), proposes to acquire 100% of the share capital in Semrush Holdings, Inc. (Semrush and together with Adobe, the Parties). The Proposed Transaction is being implemented pursuant to a merger agreement entered into between Adobe, Merger Sub, and Semrush dated 18 November 2025 (Merger Agreement). Pursuant to the Merger Agreement, Merger Sub will merge with and into Semrush, such that Merger Sub will cease to exist and Semrush will become the "surviving corporation" and a direct, wholly owned subsidiary of Adobe. After the Proposed Transaction, Semrush will be solely controlled by Adobe.

Adobe is a global technology company. Adobe's main offerings can be divided between its Customer Experience Orchestration business (formerly known as the Digital Experience business), which focuses on accelerating customer experience and delivering business intelligence services, and its Creativity & Productivity business (formerly known as the Digital Media business), which focuses on helping users create, design, and publish rich content and 3D experiences, and improve how they view, share, and collaborate on documents and content. Adobe is headquartered in California and incorporated in Delaware, USA.

Semrush provides an online visibility management and content marketing service offering a range of tools to manage web brand presence, including through its search engine optimisation (SEO) toolkit. Semrush is headquartered in Massachusetts and incorporated in Delaware, USA.

The parties are both active in the supply of software for enterprise customers and overlap in relation to generative engine optimisation (GEO), also referred to as Answer Engine Optimisation or Artificial Intelligence Optimisation.

Semrush is predominantly an SEO provider and is also active - to a lesser extent - in the supply of GEO services through its AI Visibility Toolkit and Enterprise AI Optimization products (launched in March and June 2025 respectively). Adobe is not an SEO provider and started offering GEO services through its Large Language Model Optimiser in October 2025.