Deal Wrap is updated as of 4 p.m. ET.
– Grovecourt Capital Partners acquired West Palm Beach, Fla.-based engineering company Traffic & Mobility Consultants LLC, which specializes in transportation planning and traffic engineering, for an undisclosed amount. Greenberg Traurig served as legal adviser to Grovecourt while Northwood Ventures and Energy Impact Partners LP provided financing for the transaction. 1858 Capital Partners was exclusive financial adviser to Traffic & Mobility and Nelson Mullins served as its legal adviser.
– Schaeffler India Ltd. agreed to acquire all shares of KRSV Innovative Auto Solutions Private Ltd., which provides repair solutions to Indian aftermarket workshops. Private equity firms Canbank Venture Capital Ltd., Venture Catalysts Private Ltd. and Inflection Point Ventures LLP were among the sellers, S&P Global Market Intelligence data shows.
– KSL Advisors LLC agreed to a merger with Hersha Hospitality Trust, in which the affiliates of KSL will acquire all outstanding shares of the luxury and lifestyle hotels company for $10 per common share. The all-cash transaction is valued at about $1.4 billion. Holders of Hersha's 6.875% Series C cumulative redeemable preferred shares, 6.50% Series D cumulative redeemable preferred shares and 6.50% Series E cumulative redeemable preferred shares will receive $25 in cash along with any accrued and unpaid dividends. KSL expects to close the deal in the fourth quarter, subject to closing conditions including approval from a majority of Hersha's common shareholders. Goldman Sachs & Co. LLC is the exclusive financial adviser and Latham and Watkins LLP and Venable LLP are the legal advisers to the transaction committee of Hersha's board of trustees. Hunton Andrews Kurth LLP is the legal adviser to Hersha. Wells Fargo and Citigroup served as financial advisers to KSL while Simpson Thacher & Bartlett LLP and Miles and Stockbridge PC its legal advisers.
– Veritas Farms Inc. completed the acquisition of supplements brand Asystem Inc. Sellers include Firstminute Capital LLP, S8 Capital and PLG Ventures LLC, according to S&P Global Market Intelligence data.
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.
KRSV Innovative Auto Solutions Private Ltd.Inflection Point Ventures LLP
