M&A Deal Summary

Advent International Acquires LayerZero

On June 30, 2025, private equity firm Advent International acquired utilities company LayerZero

Acquisition Highlights
  • This is Advent International’s 1st transaction in the Utilities sector.
  • This is Advent International’s 103rd transaction in the United States.
  • This is Advent International’s 2nd transaction in Ohio.

M&A Deal Summary

Date 2025-06-30
Target LayerZero
Sector Utilities
Buyer(s) Advent International
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Citizens Capital Markets (Financial)
Calfee, Halter & Griswold (Legal)

Target

LayerZero

Aurora, Ohio, United States
LayerZero is a manufacturer of solid state power conversion and power distribution products to mission-critical industries. LayerZero was founded in 2001 and is based in Aurora, Ohio.

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Buyer(S) 1

Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 91.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 348 of 353
Sector: Utilities M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 156 of 156
State: Ohio M&A 2 of 3
Country: United States M&A 103 of 106
Year: 2025 M&A 7 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-09 Felix

Dublin, Ireland

Felix is a global Gx animal pharma company that develops, manufactures and supplies to distributors and other branded Gx players for private labelling, particularly in the US. Felix is based in Dublin, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-23 Iodine Software

Austin, Texas, United States

Iodine Software is a provider of artificial intelligence-based software solutions for health systems that reduce errors and omissions in clinical documentation. Iodine Software was founded in 2010 and is based in Austin, Texas.

Sell $1.3B