Deal Wrap: TPG to acquire Nextech; Northstar invests in Corporate Technologies

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

– Bow River Capital Partners' private credit team, together with other private credit institutions, refinanced advanced battery and power systems developer Inventus Power Inc.

– Bow River Capital also acquired utility construction software solutions provider Vitruvi Software.

– Crédit Mutuel Equity SCR and Crédit Mutuel Innovation agreed to sell a more than 14% stake in Evolis SA, a French card printers and consumables company, to Assa Abloy AB (publ) unit HID Global SAS for €32 million. HID also signed a put option agreement for all shares of Cedys & Co., which owns about 84.4% of Evolis. The purchase price for Evolis' entire shares would total €228.6 million at €43.75 per share.

– Village Global Management LLC completed the sale of API security platform Resurface Labs Inc., or Resurface.io, to GrayLog Inc.

– TPG Capital LP agreed to acquire Nextech Systems LLC, which offers clinical and administrative healthcare technology solutions for specialty physician practices, for $1.4 billion. TPG expects to close the deal with seller Thomas H. Lee Partners LP in the third quarter. TripleTree LLC, Guggenheim Securities LLC and UBS Investment Bank were financial advisers to TPG, and Ropes & Gray LLP was legal counsel. William Blair was lead financial adviser to Nextech and Thomas H. Lee Partners, with Raymond James and Jamieson serving as financial advisers. Kirkland & Ellis was legal adviser to Nextech and Thomas H. Lee Partners.

– Middle-market private equity firm Northstar Capital LLC invested in managed IT services and cloud solutions provider Corporate Technologies LLC through its Northstar Mezzanine Partners VIII LP fund. Corporate Technologies is a portfolio company of private equity firm Tonka Bay Equity Partners LLC.

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.