Deal Wrap: Cinven to exit Premium Credit; EnCap invests in Rangeland Energy

Deal Wrap is updated as of 4 p.m. ET.

* Cinven Ltd. is selling U.K.-based installment finance services provider Premium Credit Ltd. to TowerBrook Capital Partners LP. The deal is slated to close during the second half of 2022, pending regulatory and antitrust approvals.

* Advent International Corp. agreed to invest in GHL Group unit GHL Hotels, a third-party hotel operator in the Andean region and Central America.

* Stone Point Capital LLC-managed funds acquired a majority stake in Beeline, which offers software services for workforce sourcing and management. Existing Beeline backer New Mountain Capital LLC will continue as a minority investor in the business. Lazard was lead financial adviser and William Blair was an adviser to Beeline and New Mountain on the deal. Ropes & Gray and Simpson Thacher & Bartlett were legal counsel to Beeline and Stone Point, respectively.

* Vance Street Capital purchased Carmanah Technologies Corp., which specializes in solar LED pedestrian and traffic safety technology. Carmanah and Vance Street-backed Polara Enterprises LLC will merge to form the midmarket investment firm's intelligent transportation system platform for traffic and pedestrian safety. Barings' global private credit provided debt financing for the deal. Harris Williams and Paul Hastings LLP were financial and legal advisers, respectively, to Vance and Polara. Fort Capital Partners was Carmanah's financial adviser and Borden Ladner Gervais LLP was legal counsel.

* EnCap Flatrock Midstream made a $300 million growth equity commitment to Rangeland Energy. The midstream infrastructure company will use the funding to establish Rangeland Energy IV LLC, which will pursue midstream acquisitions and development opportunities across North America, as well as decarbonized infrastructure opportunities.

* Stonepeak Partners LP will invest €1.0 billion for a minority stake in Inspired Education Group, a group of private schools.

* Princeton Equity Group LLC provided strategic capital to Ellie Mental Health, an operator and franchisor of outpatient mental health clinics across the U.S.