Published: August 1, 2026 | Category: Private Capital / Deals
Six transactions worth a combined $20 billion-plus land in five days, spanning energy infrastructure, consumer health, biotech and European logistics.
Buyers are moving on scale this week, not scraps. Six transactions worth a combined $20 billion-plus closed in five days, spanning energy infrastructure, consumer health, biotech and European logistics.
KKR and Energy Capital Partners lead the pack. The consortium agreed to buy U.K. energy distributor DCC Energy for more than £5.7 billion ($7.6 billion), paying 6,525 pence a share in cash plus a 147.22-pence dividend — totalling 6,672.22 pence per share. Sellers could collect up to 125 pence more if DCC’s Nexora technology unit clears a sale threshold. DCC posted £15.4 billion in revenue and £634 million in adjusted operating profit for the year ended March 31.
Brookfield agreed to buy battery storage developer Aypa Power from Blackstone Energy Transition Partners at a $7 billion enterprise value, $3 billion of it equity. Aypa runs 6.5 gigawatts of operating, under-construction and contracted storage across the U.S. and Canada, backed by a development pipeline topping 20 gigawatts across more than 70 projects. Ninety-five per cent of the operating book sits under long-term, investment-grade contracts averaging 17 years.
Bain Capital agreed to acquire Vitabiotics, Britain’s top-selling vitamin brand, for about £900 million ($1.2 billion), taking in the founder’s operations in India and Egypt along with the core U.K. business.
Argenx agreed to buy Forte Biosciences for $2.2 billion, or $77 a share in cash — a 40% premium to Forte’s prior close and 86% above its volume-weighted average price since a July 9 vitiligo trial readout. The target: FB102, a first-in-class anti-CD122 antibody with early data in vitiligo and celiac disease. Argenx expects to close in the third quarter, funded entirely from cash on hand.
Gene-editing biotech Scribe Therapeutics priced its IPO at $15 — the top of a $13-to-$15 range — raising $128.7 million on 8.58 million shares. The stock closed its first Nasdaq session at $21.65, up 44%. Eli Lilly, already a backer, moved to lift its stake toward 11% through the offering.
In Europe, Argan and Belgium’s WDP struck a friendly all-share merger creating a roughly €13 billion logistics platform. Argan holders get three WDP shares plus an €11-per-share cash payout for each Argan share — a 21% premium implying €79.22 a share. The combined company would carry €700 million in annualised rental income across eight countries and close by the first quarter of 2027, pending approvals.
Six deals, five sectors, one signal: capital is moving before summer slows down.
Deals at a Glance
| Deal | Buyer | Value |
|---|---|---|
| DCC Energy (U.K.) | KKR + Energy Capital Partners | £5.7bn+ ($7.6bn) |
| Aypa Power | Brookfield (from Blackstone) | $7bn EV / $3bn equity |
| Vitabiotics | Bain Capital | £900m ($1.2bn) |
| Forte Biosciences | Argenx | $2.2bn ($77/share, +40%) |
| Scribe Therapeutics IPO | Nasdaq | $128.7m raised; +44% day one |
| Argan + WDP merger | All-share + cash | ~€13bn combined platform |
Sources
- Argenx / Forte Biosciences — GlobeNewswire press release, July 27, 2026
- Scribe Therapeutics IPO — GlobeNewswire, July 24, 2026
- Bloomberg — Brookfield / Aypa Power, July 22, 2026; KKR / DCC Energy, July 27, 2026; Bain Capital / Vitabiotics, July 24, 2026
- Argan / WDP merger — WDP investor press release; Argan GlobeNewswire filing, July 23, 2026