Deal Wrap is updated as of 4 p.m. ET.
– Clearlake Capital Group LP and Symphony Technology Group LLC completed the sale of Archer Technologies LLC, which provides integrated risk management cloud software solutions, to Cinven Ltd. Goldman Sachs & Co. LLC and Morgan Stanley and Co. LLC were financial advisers to Archer. Sidley Austin LLP provided legal counsel to Archer, Clearlake and Symphony Technology.
– HCI Equity Partners invested in lawn care treatment services provider Grasshopper Lawns Inc. Quarles & Brady acted as legal counsel to HCI, while LR Tullius represented and served as exclusive financial adviser to Grasshopper Lawns.
– TZP Group made a strategic investment in Trash Butler LLC, a provider of doorstep valet trash and recycling solutions. Greenberg Traurig LLP and Trenam LLP provided legal counsel to TZP and Trash Butler, respectively. Lazard Frères & Co. LLC was financial adviser to Trash Butler.
– AURELIUS Equity Opportunities SE & Co. KGaA agreed to acquire TM Group (UK) Ltd. from Dye & Durham Ltd. As part of the deal, Dye & Durham will receive about £50 million in cash at closing, with up to £41 million in potential additional earnout payments between 2023 and 2026, for total consideration of up to £91 million, subject to certain adjustments. The transaction is expected to close in August. Dye & Durham intends to use the net proceeds it receives at closing to reduce its debt.
– An investor group including Jerusalem Venture Partners, Global Brain Co. Ltd., NexStar Partners LP and Fujitsu Ventures Ltd. agreed to sell cybersecurity solutions provider SCADAfence Ltd. to Honeywell International Inc., according to S&P Global Market Intelligence data. The deal is expected to close in the second half of 2023, subject to customary closing conditions, including regulatory clearances.
– Torqx Capital Partners and sleep specialist Beter Bed Holding NV reached a conditional agreement on an intended recommended all-cash public offer of €6.10 per share for all issued and outstanding shares in Beter Bed Holding. Rabobank is financial adviser and De Brauw Blackstone Westbroek NV is legal adviser to Beter Bed Holding. OXEYE Advisors is serving as financial adviser and Stibbe NV is legal adviser to Torqx.
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.
