Deal Wrap is updated as of 4 p.m. ET.
– Harvest Partners LP-managed funds completed the purchase of infrastructure services company Road Safety Services Inc. from Parallel49 Equity ULC. Piper Sandler was financial adviser to Parallel49 and Road Safety, and Honigman LLP served as their legal adviser. Guggenheim Securities LLC and Ropes & Gray LLP were the financial and legal advisers to Harvest, respectively.
– Funds advised by Motive Capital Management LLC, or Motive Partners, provided $25 million in growth capital to Splitit Payments Ltd., which voluntarily delisted from the Australian Stock Exchange. The investment is the first tranche of the funds' $50 million total capital commitment to the card-attached installments platform.
– Nordic Capital agreed to buy a majority stake in Sesol AB in a deal expected to close in the first quarter of 2024. SEB Venture Capital will exit its stake in Sesol, while the Swedish specialist solar photovoltaic installer's founders will retain a significant minority interest. Deutsche Bank was financial adviser to Sesol's shareholders.
– AstraZeneca PLC agreed to purchase clinical-stage biopharmaceutical company Icosavax Inc. from an investor group including Adams Street Partners LLC, Perceptive Advisors LLC, ND Capital, Omega Fund Management LLC and Qiming Venture Partners USA.
– Nokia Oyj will acquire Fenix Group Inc., which provides tactical communication solutions to the defense sector, from Enlightenment Capital LLC.
– CVC Capital Partners Ltd. through CVC Growth Funds, will invest about €200 million to acquire a significant minority position in Dutch service management software provider TOPdesk Nederland BV.
– Kohlberg & Co. LLC-managed funds completed the recapitalization of Worldwide Clinical Trials Holdings Inc. in exchange for a majority stake in the contract research organization. TJC LP will continue to own a meaningful minority stake in Worldwide Clinical.
– TPG Capital LP's The Rise Fund and Investcorp Holdings BSC agreed to invest in Outcomes First Group Holdings Ltd., a UK-based special education needs provider. The Rise Fund is getting a majority stake, while Investcorp is the minority investor. Stirling Square Capital Partners LLP-backed The National Fostering Agency Ltd. is divesting its stake in Outcomes First. Moelis & Co. was financial adviser to the buyers, while Ropes & Gray and Gibson Dunn & Crutcher were their legal advisers. Rothschild was financial adviser to Stirling Square and Milbank and Fried Frank provided the firm with legal counsel. DLA Piper was legal adviser and Jamieson Corporate Finance was financial adviser to management.
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.
