Deal Wrap: ShoreView to buy P&F Industries; Altor acquires 8% stake in Mandatum

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

– ShoreView Industries agreed to acquire P&F Industries Inc. in an all-cash deal for $13 per share. P&F, through its wholly owned subsidiaries, is a manufacturer and importer of air-powered tools and accessories. Following completion of the transaction, which is expected to occur in the fourth quarter, P&F will become a wholly owned subsidiary of ShoreView and P&F's common stock will no longer be listed on any public market. East Wind Securities is serving as financial adviser and Ruskin Moscou Faltischek PC is acting as legal adviser to P&F. Skadden Arps Slate Meagher & Flom LLP is serving as legal counsel to the special committee of P&F's independent directors, while Sidley Austin LLP is acting as legal adviser to ShoreView.

– Altor Equity Partners AB-managed Altor Fund VI acquired an 8% stake in Mandatum Oyj after the demerger of the Finnish financial services company from Sampo Oyj.

– Scope3 Inc., a collaborative sustainability platform decarbonizing media and advertising, raised $20 million in a series B funding round led by private equity firm GV Management Co. LLC. Room40 Management LLC and VR Adviser LLC also participated in the funding round.

For further private equity deals, read our latest In Play report, which looks at potential private equity-backed M&A, including rumored transactions, each week.