TAMPA: Financial automation firm Gravity said on Thursday it has acquired grants management software provider Cityspan, a move that expands its product portfolio as it builds an all-in-one financial operations platform for government clients. The deal, terms of which were not disclosed, combines Gravity’s core disclosure and budgeting automation with Cityspan’s cloud-based systems for managing…
Electro-Mechanical LLC acquires Maryland based Powercon Corporation
BRISTOL: Electro-Mechanical, LLC, a leading U.S. manufacturer of medium voltage switchgear and electrical apparatus, announced Friday it has acquired Powercon Corporation, a Maryland-based provider of custom-designed power distribution systems. Founded in 1959, Powercon brings more than six decades of engineering expertise in medium voltage switchgear, e-houses, and modular substation power systems. The acquisition strengthens Electro-Mechanical’s…
NatWest lifts 2025 outlook on strong Q3 profit and lending growth
LONDON: British bank NatWest Group (NWG.L) upgraded its full-year income and profit guidance on Friday after higher lending and stable deposits helped it post a stronger-than-expected third-quarter attributable profit of £1.6 billion ($2.0 billion). The bank, one of Britain’s largest, reported a return on tangible equity (RoTE) – a key measure of profitability – of…
Revel Collective launches formal sale process amid financial struggles
LONDON: The Revel Collective plc, the operator behind Revolution Bars, Revolución de Cuba, and Peach Pubs, has launched a strategic review and formal sales process as it grapples with mounting financial pressures and a sharp decline in revenue. The company announced Thursday that it is exploring a range of options, including a potential sale of…
Signify lowers 2025 forecast amid challenging market conditions
EINDHOVEN: Signify, the world leader in lighting, reported a decline in third-quarter sales and profitability, prompting the company to lower its financial guidance for the full year due to a softer-than-expected U.S. market and ongoing challenges in its OEM component business. The company, known for its Philips lighting brands, announced third-quarter sales of 1.41 billion…
Japan’s Kondotec to acquire Suzutoh and RYUKYU BRIDGE LTD
TOKYO: Japanese construction materials firm Kondotec Inc said on Friday it will acquire all shares of Suzutoh Co., Ltd., making it a subsidiary as part of a strategy to strengthen its supply system and expand in growth areas. The acquisition, approved by Kondotec’s board on Friday, is scheduled to be completed on Nov. 27, the company…
Sweden’s MedCap posts strong quarterly profit on acquisitions and organic growth
STOCKHOLM: Swedish medical technology and life sciences investor MedCap AB on Friday reported a 32% rise in its third-quarter adjusted core earnings, driven by robust organic growth and contributions from recent acquisitions. The company, which buys and develops small- and medium-sized life science companies, said adjusted earnings before interest, taxes and amortisation (EBITA) rose to…
SS&C Technologies reports strong Q3 results, raises dividend and operating cash flow surges
WINDSOR: SS&C Technologies Holdings, Inc. (NASDAQ: SSNC), a global provider of investment, financial, and healthcare software and software-enabled services, announced robust financial results for the third quarter ended September 30, 2025, highlighting significant revenue growth and a sharp increase in operating cash flow. The company reported a 7.0 percent growth in both GAAP and Adjusted…
FHLBank Chicago reports $185 million Q3 profit, boosts community investment
CHICAGO: The Federal Home Loan Bank of Chicago (FHLBank Chicago) on Friday reported preliminary and unaudited net income of $185 million for the third quarter of 2025, up from $130 million in the same period last year, citing lower noninterest expenses and increased member participation in community investment programs. “Our preliminary third quarter performance reflects…
Copeland to acquire Germany’s SPH Sustainable Process Heat
OVERATH: Copeland, a global leader in sustainable climate solutions, announced Friday it has reached an agreement to acquire SPH Sustainable Process Heat, a Germany-based industrial heat pump technology company. The acquisition is expected to strengthen Copeland’s industrial heating portfolio, enabling broader delivery of high-temperature heat pump solutions under its Vilter brand. SPH will continue to…
Belgium’s KBC Group to buy Czech and Slovak units of Business Lease Group from Dutch rival AutoBinck
BRUSSELS: Belgium’s KBC Group (KBC.BR) has agreed to buy the Czech and Slovak units of Business Lease Group from Dutch rival AutoBinck Group (BINCK.AS) for 72 million euros ($77 million), the companies said on Thursday, in a move to significantly bolster its leasing operations in Central Europe. According to a stock filing, the acquisition is…
Partners Group agrees to sell its 24.9% stake in Apex Logistics for EUR 16.7 million
LONDON: Partners Group Private Equity Limited (PGPE Ltd) announced that the Partners Group, its Investment Manager, has agreed to exit its minority stake in global logistics provider Apex Logistics. · The transaction values Apex Logistics at an EV of over USD 4 billion · The transaction values the stake of PGPE Ltd in Apex Logistics in line…