Deal Wrap: Ardian buys $2.1B PE interests; MidOcean acquires Smith System

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

– Ardian bought a portfolio of limited partnership interests in 20 private equity funds from Canada Pension Plan Investment Board for $2.10 billion.

– MidOcean Partners LLP acquired workplace safety training platform Smith System Driver Improvement Institute Inc. from Levine Leichtman Capital Partners LLC for an undisclosed amount.

– An investor group including Makai Capital Partners, Capital For Business Inc. and Konza Valley Capital Inc. acquired reuse chemical manufacturing and distribution company New Life Chemical & Equipment Inc. The company will become a part of Paladin Holdings LLC, Makai Capital's specialty chemical manufacturing group.

– Palindrome LLP completed the acquisition of Rhino Tool Co. Inc., which manufactures and distributes tools for a range of industries. Anthony Lazzara of Kreshmore Group served as financial adviser to Rhino.

– Sterling Partners exited its investment in School of Rock LLC and sold the music education platform to Youth Enrichment Brands LLC. Baird represented Sterling and School of Rock in the transaction.

– Presidio Investors LLC acquire a controlling stake in Almaden, which provides marketing supply chain services including promotional products, signage, print, packaging and direct marketing.

– Anschutz Entertainment Group and Onex Partners Manager LP will sell their entire interest in venue and event management platform ASM Global to Legends for an undisclosed amount. The sellers expect to close the deal in 2024.

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.