Deal Wrap: Next to buy Warburg's stake in Reiss Group; BGF invests in Kooth

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

– Next PLC and the Reiss family agreed to acquire Warburg Pincus LLC's 34% stake in Reiss Group for about £128 million. Once the deal closes, Next will own 72% of the business, while the Reiss family's holdings will grow to 22%. Reiss' management will own a 6% stake in the company. Raymond James was the financial adviser to Reiss. Kirkland & Ellis acted as legal adviser to Warburg Pincus, while Slaughter and May was the legal adviser to Next. Fried Frank Harris Shriver & Jacobson served as legal adviser to the Reiss management team.

– Mutares SE & Co. KGaA completed the acquisition of Recover Nordic Oy, which provides property remediation services, from Recover Nordic AS.

– BGF Investment Management Ltd. completed a £3 million investment in digital mental health and well-being company Kooth PLC. The investment is part of the company's £10 million fundraising.

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.