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2 Nov, 2021
Deal Wrap is updated as of 4 p.m. ET.
* KT Capital Partners LP made a significant equity investment in Dealer Solutions and Design LLC. Generational Equity was an adviser to Dealer Solutions & Design on the transaction, which was completed Sept. 30.
* Engine management and fuel-systems maker Walbro Co. Ltd. was purchased by Nova Capital Management Ltd. and Landon Capital Partners LLC for an undisclosed amount.
* Thoma Bravo LP agreed to exit parking solutions company T2 Systems Inc. to smart mobility technology solutions provider Verra Mobility Corp. for $347 million on a cash-free and debt-free basis. The deal includes an additional up to $9 million in relation to an impending asset acquisition by T2 Systems' wholly owned indirect subsidiary.
* Altaris Capital Partners LLC will purchase emergency response and health security company Meridian Medical Technologies Inc. from Pfizer Inc. Bass Berry and Sims PLC was legal counsel for Altaris, while Wachtell Lipton Rosen & Katz was Pfizer's adviser.
* Palatine Private Equity LLP's Impact Fund sold Estio Training Ltd., an IT apprenticeship training provider in the U.K., to global education company BPP Education Group. Clearwater International and Addleshaw Goddard were advisers to Palatine on the transaction.
* Arsenal Capital Partners added Guidemark Health Inc., a healthcare marketing communications agency, to its portfolio under its Value Demonstration organization.
* O2 Investment Partners LLC made an investment in Capital Construction LLC, which provides roof replacement and other exterior restoration services to residential customers.
* Recycling and waste management company Keter Environmental Services Inc. received an undisclosed amount of fresh capital from middle-market private equity firm TPG Growth LLC.
* Funds managed by Sentinel Capital Partners LLC agreed to sell Italian restaurant chain Fazoli's to FAT Brands Inc. for $130 million in a deal set to close by mid-December. Duff & Phelps Securities LLC was financial adviser and Foley & Lardner LLP was legal adviser to FAT brands, while North Point Mergers and Acquisitions Inc. was financial adviser and Winthrop & Weinstine PA was legal adviser to Sentinel Capital.
* Blackford Capital purchased interior design company ID Collaborative Inc. Dickinson Wright PLLC, Honigman LLP and King & Spaulding LLP were legal advisers, Mercantile Bank of Michigan was senior lender, while Plante Moran provided deal structure and accounting services on the transaction. Anderson LeNeave & Co. was investment banker and Carruthers & Roth PA was legal counsel to the seller.
* Permira Advisers Ltd. will divest Tricor Group to funds affiliated with Baring Private Equity Asia in a deal that gives Tricor, a Hong Kong-based business services provider, an enterprise value of $2.76 billion.
* A Sun European Partners LLP affiliate will buy U.K. workplace and property management risk solutions provider Bellrock Property & Facilities Management Ltd.
* Ardian took a minority interest in French digital real estate classifieds platform Strategie Media Conseil.
* Guardian Capital Partners PLC sold pet products retailer Cosmic Pet LLC to Platinum Equity LLC-backed Petmate. Morgan Lewis & Bockius LLP was legal adviser to Guardian Capital, and Harris Williams LLC was financial adviser to Cosmic Pet.
* A One Rock Capital Partners LLC affiliate wrapped up its acquisition of Eastman Chemical Co.'s tire additives business, which will be rebranded to Flexsys. Latham & Watkins LLP was legal counsel and RBC Capital Markets LLC was financial adviser to One Rock.
* GI Manager LP recapitalized Rectangle Health, together with the healthcare financial technology company's existing investor TA Associates Management LP. Credit Suisse Securities (USA) LLC was lead financial adviser and Robert W. Baird & Co. was co-financial adviser to Rectangle Health. Goodwin Procter LLP was legal adviser to Rectangle Health and TA Associates. Goldman Sachs was financial adviser to GI Partners and Ropes & Gray LLP was its legal adviser, while The Strawhecker Group served as its payments industry consultant.
* Middle-market investor Martis Capital made a majority investment in Lighthouse Lab Services, together with current investor NaviMed Capital and the laboratory management services company's management team. First Eagle Investment Management provided the financing for the transaction. Lincoln International was financial adviser to Lighthouse, while Paul Hastings was legal counsel to Lighthouse and Navimed. McDermott Will & Emery was legal adviser to Martis Capital.