Ropes & Gray warns that antitrust risks will significantly shape a subset of private equity deals, particularly in life sciences and technology, requiring early competition analysis. Solabia, an Astorg portfolio company specializing in natural active ingredients, has executed a triple add-on by acquiring Mibelle Biochemistry, Seqens' botanical actives, and Xebios Group's diagnostics activity, all complementary to its core cosmetics and pharmaceutical ingredient business. These transactions represent Solabia's first acquisitions since Astorg's 2025 takeover of TA Associates' stake.

Simultaneously, Banijay Group and RedBird IMI are merging Banijay Entertainment and All3Media, creating a global media powerhouse with pro forma 2024 revenues exceeding €4.4 billion and adjusted EBITDA of €690 million. The combined entity, to be jointly owned 50/50, will encompass over 170 creative labels across 25 countries, producing major titles like 'Peaky Blinders' and 'Big Brother'.