Deal Wrap is updated as of 4 p.m. ET.
– Audax Management Co. LLC invested in Oakbridge Insurance Agency LLC alongside the independent insurance and risk management company's management for an undisclosed amount. Private equity firm Corsair Capital LLC is selling its investment in Oakbridge as part of this transaction. Morgan Stanley & Co. LLC and Piper Sandler & Co. were the financial advisers to Oakbridge, whlile Ardea Partners served Audax. Simpson Thacher & Bartlett LLP acted as legal counsel to Oakbridge with Kirkland & Ellis LLP providing legal advice to Audax.
– Arlington Management Employees LLC agreed to acquire Exostar LLC, which provides support services to the defense and biopharmaceutical industries, from Thoma Bravo LP in an undisclosed transaction. Arlington expects to close the deal by end of the year, subject to regulatory approvals and customary conditions. Gibson Dunn & Crutcher LLP acted as the legal adviser and Shea & Co. provided financial advice to Arlington. Thoma Bravo enlisted Kirkland & Ellis LLP as its legal adviser and Aeris Partners LLC as its exclusive financial adviser.
– Sev.En Global Investments AS agreed to acquire a 51% stake in high-quality coal producer Coronado Global Resources Inc. from EMG Fund II Management LP. The transaction is subject to closing conditions, including regulatory approvals in the US and Australia.
– NewSpring Capital LLC completed a controlling investment in home services company Green Home Solutions.
– Biogen Inc. completed the acquisition of Reata Pharmaceuticals Inc. Sellers include private equity firms Blackstone Life Sciences and Perceptive Advisors LLC, according to S&P Global Market Intelligence data.
– Silver Oak Services Partners LLC is recapitalizing Quality Liaison Services in partnership with co-investors and management of the quality assurance services provider.
– Innovation Industries Management BV made a substantial investment in EnOcean GmbH, which provides Internet of Things solutions.
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.
