Deal Wrap: PAI Partners to acquire Alphia; Roark Capital to buy Subway

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

– BPEA Private Equity Fund VII exited its investment in technology services provider Coforge Ltd. by selling its remaining 26.6% stake in the company through a $924 million block trade.

– Intertek Group PLC acquired PlayerLync LLC, a software-as-a-service platform that provides training and learning content to frontline workers. Sellers include Anschutz Investment Co. and Volition Capital LLC, according to S&P Global Market Intelligence data.

– PAI Partners agreed to acquire pet food co-manufacturer Alphia Inc. from J.H. Whitney Capital Partners LLC. Goldman Sachs & Co. LLC served as financial adviser to Alphia. Gibson Dunn & Crutcher LLP acted as legal counsel to J.H. Whitney and Alphia, while Weil Gotshal & Manges LLP provided legal counsel to PAI.

– Precision technology company Nordson Corp. completed the acquisition of ARAG Srl, which develops and produces precision control systems and smart fluid components for agricultural spraying. Capvis AG and Capvis Equity V LP exited ARAG, according to S&P Global Market Intelligence data.

– Ashington Innovation PLC entered into a nonbinding heads of terms agreement to acquire all outstanding shares of medical device company Calon Cardio-Technology Ltd. for £39 million in an all-share transaction. Sellers include Development Bank of Wales PLC, Longbow Capital LLP and Wren Capital LLP, according to S&P Global Market Intelligence data.

– Roark Capital Management LLC agreed to acquire Doctor's Associates Inc., doing business as Subway. J.P. Morgan is serving as financial adviser and Sullivan & Cromwell LLP is acting as legal counsel to Subway.

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.