Weekly ACCC Deal Digest (18 March 2026)
7 new deals, 15 approved, 2 rejected waivers and 12 pending deals with the ACCC up to 18 March 2026
Merger Loop
March 18, 2026
7 new deals, 15 approved and 2 rejected waivers in this week’s ACCC M&A register round up.
Strong deal activity across technology, energy, and consumer sectors, including Adobe’s proposed acquisition of Semrush and Rocket Software’s purchase of Vertica. MidOcean Energy’s move into the Gorgon and Ichthys LNG projects highlights continued offshore investment in Australian gas, and National Dental Care’s WA clinic acquisition reflects ongoing healthcare roll-ups.
Recent waiver rejections include Premier Fresh’s acquisition of the Domenico Group, and Eli Lilly’s proposed acquisition of Orna Therapeutics highlighting sensitivity to consolidation in agricultural and pharma supply chains.
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❇️ New Deals
Adobe - Semrush
Software Publishing | Computer System Design and Related Services
Adobe Inc. proposes to acquire 100% of the share capital in Semrush Holdings, Inc. via a merger. Global technology company Adobe will gain Semrush's online visibility management and content marketing services. Both parties supply software for enterprise customers, with an overlap in generative engine optimisation offerings.
MidOcean Energy – JERA Gorgon
Oil and Gas Extraction
MidOcean Energy proposes a share sale acquisition of JERA Gorgon Pty Ltd and JERA Ichthys Pty Ltd from JERA Australia Pty Ltd. This involves indirect interests of ~0.417% in the Gorgon LNG Project and ~0.735% in the Ichthys LNG Project, Western Australia. A pre-empt right was exercised for the Ichthys interests.
National Dental Care – business assets comprising the Comfy Dental clinic, Mandurah, WA
Dental Services
NDC HoldCo Pty Ltd, via its subsidiary NDC Australia Pty Limited, proposes to acquire 100% of the business assets of Comfy Dental Clinic from Comfy Dental Trust. This dental services transaction involves two Mandurah, WA clinics. NDC is majority owned by funds managed by Crescent Capital Partners.
Coles – supermarket site in New Norfolk (TAS)
Supermarket and Grocery Stores | Non-Residential Property Operators | Real Estate Services
Coles Supermarkets Australia, a Coles Group subsidiary, will lease a new 2,600 square metre standalone supermarket in New Norfolk, Tasmania. Tipalea Private No. 27 Pty Ltd will develop the site. This property transaction supports Coles' expansion in the supermarket and grocery sector.
KPS – Novacel
Polymer Film and Sheet Packaging Material Manufacturing | Other Specialised Machinery and Equipment Manufacturing | Financial Asset Investing
US private investment company KPS Special Situations Mid-Cap Fund II proposes to acquire 100% of the shares of Novacel, a global producer of specialty processing films and tapes. The seller, Compagnie Chargeurs Invest SA, will roll-over a 25% interest. Novacel supplies protective films in Australia.
Rocket Software – Vertica
Software Publishing
Bain Capital portfolio company, Rocket Software, proposes to acquire the Vertica Analytics Database Platform from Open Text Corporation. This asset sale involves Rocket Software, a global infrastructure and application software provider, gaining Vertica's enterprise-grade analytical database software.
Argo Bowen 2 – Bowen Coking Coal and certain subsidiaries
Coal Mining
Argo Bowen 2 Pty Ltd proposes to acquire 100% of the shares in Bowen Coking Coal Limited and certain subsidiaries. This share acquisition involves a metallurgical and thermal coal producer, which recently entered voluntary administration. The acquirer's parent company also holds interests in other Bowen Basin coal mines.
✅ Recently Approved
Australian Venue Co. – An Sibin Irish Pub
Cafes and Restaurants | Pubs, Taverns and Bars
Australian Venue Co. Holdings Limited, via its subsidiary AVC Operations Pty Limited, acquired the business and assets of Ash Promotions Pty Ltd, trading as An Sibin Irish Pub. This asset sale expands AVC's licensed venue portfolio, specifically within the pubs, taverns, and bars sector, adding a traditional Irish pub.
Cvent - ON24
Data Processing and Web Hosting Services
Cvent Atlanta, LLC, controlled by Blackstone, Inc., acquired ON24, Inc. through a merger. Both companies offer cloud-based services for event management, webinars, and virtual events in Australia, operating within the data processing and web hosting industry. This transaction has been approved.
Audiotonix - Soundtech Group
Other Goods Wholesaling n.e.c.
UK-headquartered Audiotonix Group, controlled by PAI Partners, is acquiring 100% of the shares in Soundtech Group S.r.l. Both companies operate in the professional audio industry, with Australian subsidiaries supplying high-end microphones and wireless microphone systems wholesale.
Salesforce – Qualified
Computer System Design and Related Services
Salesforce, Inc. is acquiring Qualified.com, Inc. via a share sale. Salesforce supplies global customer relationship management (CRM) software and AI solutions. Qualified.com provides the AI-driven 'Piper' agentic marketing product, which integrates with Salesforce’s CRM, enhancing B2B sales and marketing with conversation automation solutions.
Hg Capital - OneStream
Computer System Design and Related Services
Private equity firm Hg Pooled Management Limited (Hg Capital) acquired 100% of the share capital in OneStream, Inc and OneStream Software LLC (OneStream). Both parties are involved in enterprise performance management software, with OneStream providing a Digital Finance Cloud platform for financial and operational planning.
TDR and Estoril – Escode
Electronic Information Storage Services
TDR Capital LLP and Estoril Coinvest SCSp will acquire majority and minority interests in Escode via a Shareholders Agreement. Escode, a division of NCC Group plc, provides software escrow and related services, including verification services in Australia.
OEP IX – Leviat
Other Fabricated Metal Product Manufacturing n.e.c. | Financial Asset Investing
OEP IX Master Coöperatief U.A., part of One Equity Partners Fund Complex IX, will acquire 100% of the Leviat Group via a share purchase from CRH PLC subsidiaries. Leviat is a global manufacturer of engineered construction accessories, supplying anchoring and reinforcement products in Australia.
Henkel – ATP Adhesives Systems Group
Adhesive Manufacturing
Henkel AG & Co. KGaA is acquiring all shares in ATP Adhesives Systems Group GmbH from ATP Adhesives Holdings LP, controlled by affiliates of Arsenal Capital Partners. The share acquisition combines Henkel's non-water-based pressure-sensitive adhesive tapes with ATP's water-based PSA tapes, strengthening their position in adhesive manufacturing.
Apex - Mercer Administration Services and related assets
Other Auxiliary Finance and Investment Services | Auxiliary Insurance Services
Apex Group Limited acquired the shares of Mercer Administration Services (Australia) Pty Limited and assets of Mercer Outsourcing (Australia) Pty Ltd. This share and asset sale consolidates two key providers of outsourcing and administration services to the Australian superannuation industry, encompassing fund administration, accounting, and insurance administration.
ServiceNow - Armis
Software Publishing
US-based software company ServiceNow, Inc. proposes to acquire Armis Security, Ltd. ServiceNow supplies enterprise software for IT operations and operational technology management. Armis specialises in cyber exposure management and security, particularly for OT environments. Both companies provide continuous threat exposure management and OT security solutions.
Freudenberg Home and Cleaning Solutions – Nilfisk
Other Specialised Machinery and Equipment Manufacturing | Pharmaceutical and Toiletry Goods Wholesaling
Freudenberg Home and Cleaning Solutions GmbH has been approved to acquire 100% of the share capital in Nilfisk Holding A/S. Freudenberg supplies manual cleaning tools and products, while Nilfisk provides professional cleaning machines like floorcare and vacuum cleaners. This share acquisition combines their offerings in the Australian cleaning equipment market.
Russell Investment Group – Zurich Investment Management
Financial Asset Investing | Management Advice and Related Consulting Services
Russell Investment Group Pty Ltd is acquiring 100 per cent of Zurich Investment Management Limited via a share sale. Both parties provide investment and asset management services, including managed fund solutions, to Australian investors, consolidating offerings in the financial asset investing sector.
Autosports Group - Solitaire Automotive Group
Car Retailing
Autosports Group Limited proposes to acquire 100% of the Solitaire Automotive Group business from Toja Investments Pty Ltd and David Smoker. This share acquisition in the car retailing industry will see Autosports Group, a multi-brand dealership operator, expand its presence by acquiring Solitaire Automotive Group's Adelaide dealerships.
Aluminium Specialties Group – Manufacturing facility site in Orchard Hills, NSW
Aluminium Rolling, Drawing, Extruding
Aluminium Specialties Group, an aluminium systems manufacturer, entered into lease agreements for manufacturing premises in Orchard Hills, NSW, with property owner Atilol Holdings Pty Ltd. Atilol is constructing the facility for Aluminium Specialties Group, which manufactures and extrudes aluminium supplies like door and window frames.
Resonetics – Resolution Medical
Medical and Surgical Equipment Manufacturing | Engineering Design and Engineering Consulting Services
Resonetics, LLC, backed by The Carlyle Group Inc. and GTCR LLC affiliates, proposes to acquire Resolution Medical MidCo, LLC. Resolution Medical, owned by Arcline Investment Management, LP, provides integrated design and manufacturing solutions for complex medical devices. This share acquisition strengthens medical device manufacturing.
❌ Recently Rejected
Premier Fresh – Charles Domenico Group
Vegetable Growing (Outdoors) | Fruit and Vegetable Processing | Fruit and Vegetable Wholesaling | Fruit and Vegetable Retailing | Packaging Services
Premier Fresh Australia proposes to acquire 100% of shares, business, land, and assets of the Domenico Group (North Queensland IQF and Double D Produce). The Domenico Group grows, packs, and processes capsicums in Ayr, Queensland. Premier Fresh, a horticulture marketer, has a long-standing commercial relationship marketing their capsicum production.
Eli Lilly – Orna Therapeutics
Human Pharmaceutical and Medicinal Product Manufacturing | Scientific Research Services
Eli Lilly and Company, a US-based pharmaceutical company, proposes to acquire 100% of the issued shares in Orna Therapeutics Holdings, LLC. Orna Therapeutics is a US-based pre-clinical biotechnology company developing engineered circular RNA therapeutics and delivery technologies for autoimmune disorders and cancer conditions.
🔁 Pending Deals
Notification — Phase 1 (initial assessment)
CVS Group - Pittwater Animal Hospital: submitted 13 February 2026; expected 30 Mar 2026; MN-95003 ↗
Charter Hall Holdings - JGS Private Capital: submitted 17 February 2026; expected 1 Apr 2026; MN-75009 ↗
MicroStar Logistics - Konvoy: submitted 20 February 2026; expected 8 Apr 2026; MN-30003 ↗
Craig Mostyn – Patmore Feeds: submitted 20 February 2026; expected 8 Apr 2026; MN-60007 ↗
North American Construction Group – Iron Mine Contracting and Iron Hire: submitted 25 February 2026; expected 13 Apr 2026; MN-85003 ↗
Civilmart – Taylex: submitted 25 February 2026; expected 13 Apr 2026; MN-01083 ↗
IOR - Delta Specialised Energy assets: submitted 26 February 2026; expected 14 Apr 2026; MN-60004 ↗
Insurance Australia Group – RAC Insurance: submitted 3 March 2026; expected 17 Apr 2026; MN-65005 ↗
Peter Warren - Wakeling Automotive: submitted 5 March 2026; expected 21 Apr 2026; MN-30002 ↗
CARe – MotorOne Autobody: submitted 6 March 2026; expected 22 Apr 2026; MN-90006 ↗
Notification — Phase 2 (detailed assessment)
Ampol – EG Australia: submitted 10 October 2025; expected 9 Jun 2026; MN-01019 ↗
Coles – supermarket and liquor site in Kalgoorlie, WA: submitted 27 November 2025; expected 12 Jun 2026; MN-01068 ↗