Deal Wrap is updated as of 4 p.m. ET.
– Partners Group Holding AG is set to acquire Velvet Care Sp. z o.o., a European hygiene paper product manufacturer, from Abris Capital Partners. The completion of the deal is subject to regulatory approvals.
– Occidental Petroleum Corp. agreed to buy oil and gas producer CrownRock LP from CrownQuest Operating LLC and Lime Rock Partners LLC for about $12 billion in a cash-and-stock transaction expected to close during the first quarter of 2024. BofA Securities is financial adviser and Latham & Watkins LLP is legal adviser to Occidental. Goldman Sachs & Co. LLC and TPH&Co are joint-lead financial advisers to CrownRock, while Vinson & Elkins LLP is its legal adviser.
– EQT AB (publ)'s EQT Infrastructure VI fund will purchase a majority stake in industrial waste management company Heritage Environmental Services LLC from The Heritage Group. The deal is likely to close in the first quarter of 2024. Nomura Greentech was the financial adviser to EQT Infrastructure, and Simpson Thacher & Bartlett was its legal counsel. Truist Securities was the financial adviser to The Heritage Group, and Kirkland & Ellis LLP was legal counsel.
– Blue Sage Capital LP closed its investment in Geo-Solutions Inc., which provides complex geotechnical and environmental remediation services. Queen Saenz + Schutz PLLC was legal adviser to Blue Sage, while Kroll, Cherry Bekaert and NFP advised the firm on accounting and IT, tax and insurance, respectively. FMI Capital Advisors Inc. represented Geo-Solutions.
– Ascendent Capital Partners (Asia) Ltd. agreed to purchase all outstanding shares of Beijing-based Hollysys Automation Technologies Ltd. not already owned by the firm in an all-cash deal valued at about $1.66 billion. Deutsche Bank AG, Davis Polk & Wardwell, Mourant Ozannes (Hong Kong) LLP and Haiwen & Partners are advisers to Hollysys, while Morrison & Foerster LLP, Appleby and Zhong Lun Law Firm are advisers to Ascendent.
– Fortress Investment Group LLC acquired a global multi-manager hedge fund platform from PineBridge Investments LLC through a strategic partnership with BMO Global Asset Management. The acquired platform changed its name to Fortress Multi-Manager Group.
– HCAP Partners LLC invested in Simplified E-Solutions, which specializes in zero waste-to-landfill material processing and management, in a transaction led by Champlain Capital Management LLC.
– Crossplane Capital recapitalized Hynes Industries Inc. in partnership with the metal parts manufacturer's management team led by CEO Rick Organ.
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.
