Deal Wrap: OMERS to invest in Knight Commercial; Falfurrias buys into Brain Labs

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

– Avingtrans PLC completed the acquisition of the remaining issued and to be issued shares of medical technology business Adaptix Ltd. for a total consideration of up to £2.7 million. Sellers include Scottish Investment Bank Ltd., Par Equity LLP, EIS Fund 1 and Par Syndicate EIS Fund, according to S&P Global Market Intelligence data.

– OMERS Private Equity agreed to acquire a majority stake in Knight Commercial, a provider of restoration, construction and roofing services. Knight Commercial co-founders Adam McKelvey and Peter Tredennick will remain significant shareholders of the company. The deal is expected to close in September. Akin Gump Strauss Hauer & Feld LLP acted as legal counsel and Stephens Inc. served as financial adviser to Knight Commercial. Cravath Swaine & Moore LLP and Weil Gotshal & Manges LLP acted as legal counsel to OMERS, and Harris Williams served as financial adviser.

– CVC Capital Partners Ltd. and Dale Underwriting Partners entered into a strategic partnership under which CVC funds will acquire a majority stake in Dale. The transaction is expected to close in the fourth quarter of 2023 or the first quarter of 2024. Macquarie Capital and Norton Rose Fulbright advised Dale on the transaction, while Howden Tiger Capital Markets & Advisory, Aon Capital Advisory and Aon's Strategy and Technology Group, EY, Weil, and Bryan Cave Leighton Paisner advised CVC.

– AvePoint Inc. announced that a definitive agreement has been entered into for an anchor investment by 65 Equity Partners through its purchase of 16,666,600 AvePoint common shares from Sixth Street Partners LLC.

– Falfurrias Capital Partners LP announced its investment in full-service media agency Brain Labs Digital Ltd. BrightTower represented Falfurrias in the transaction, and K&L Gates LLP served as legal adviser. Canaccord Genuity served as financial adviser and Cooley acted as legal adviser to Brain Labs.

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.