Deal Wrap is updated as of 4 p.m. ET.
– Private equity firm Soundcore Capital Partners LP exited its investment in Roofing Corp. of America Inc., which provides commercial, industrial and residential roof replacements and repairs, new roof installation and ongoing preventative maintenance. Piper Sandler & Co. was financial adviser and Kirkland & Ellis LLP acted as legal adviser to Soundcore and Roofing Corp.
– Investment firm Ardian acquired a Peru-based hydropower company that owns six operating run-of-river hydroelectric power plants.
– Private equity firm Yellow Wood Partners LLC announced a binding offer to acquire the Elida Beauty Ltd. portfolio of brands from consumer goods company Unilever PLC. The transaction is expected to be completed by mid-2024.
– Investment firm Stonepeak Partners LP agreed to provide up to a $200 million strategic growth investment in communications services provider TeleGuam Holdings LLC, or GTA. Huntsman Family Investments and its affiliates will continue to be the majority owner of GTA. The transaction is expected to close within the next month, subject to customary closing conditions. Lazard is the financial adviser to HFI and GTA, and Bryan Cave Leighton Paisner LLP is acting as legal counsel. Sidley Austin LLP is legal counsel to Stonepeak.
– Private equity firm Bluestone Equity Partners LP invested in VideoVerse, developer of AI-powered video editing solution Magnifi.
– Audax Management Co. LLC invested in tire retailer and automotive aftermarket service company Dobbs Tire & Auto Centers, Inc. Capstone Partners was financial adviser and Nelson Mullins acted as legal counsel to Dobbs. Stifel was financial adviser and Gibson Dunn & Crutcher and Goulston & Storrs acted as legal counsel to Audax.
– Sustainable waste management company Blue Planet Environmental Solutions Pte. Ltd. received a $35 million investment from the IFU.
– New investor SNB Capital Co. and returning investor Sanabil Investments led a $340 million series C round of funding for buy-now, pay-later fintech company Nakhla IT Systems LLC, according to S&P Global Market Intelligence data.
– InvAscent Capital Partners II Ltd invested $10 million in healthcare platform ABI Health, according to Market Intelligence data.
– Lionrock Capital acquired Haglöfs AB, an outdoor performance brand that designs, develops and markets clothing, footwear and hardware products.
– H.I.G. Capital LLC agreed to acquire the spine business of medical technology company ZimVie Inc. Under the terms of the deal, which is expected to close in the first half of 2024, ZimVie will receive $375 million in total consideration. Centerview Partners is the exclusive financial adviser and Cravath Swaine & Moore LLP is legal adviser to ZimVie. McDermott Will & Emery LLP is legal adviser to H.I.G. Capital.
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.
