Deal Wrap is updated as of 4 p.m. ET.
– ABB Motion signed a strategic partnership with WindESCo Inc., which provides analytics software to improve the performance and reliability of wind turbines, and acquired a minority stake in the company through venture capital unit ABB Technology Ventures for an undisclosed amount.
– Nexfibre Networks Ltd., in partnership with VMED O2 UK Ltd., agreed to acquire fiber operator Upp Corp. Ltd. from private equity firm LetterOne Holdings SA, according to S&P Global Market Intelligence data.
– System1 Inc. received a nonbinding indication of interest from Just Develop It Ltd. to acquire security and alarm services company Total Security Management Ltd. for $240 million in cash, assumption of certain potential earnout payments and delivery of about 29 million System1 shares held by Just Develop It and related persons. Solomon Partners and Weil Gotshal & Manges LLP are advising System1 to evaluate the offer.
– Thoma Bravo LP agreed to acquire NextGen Healthcare Inc., a cloud healthcare technology solutions provider, for $23.95 per share in cash. The parties expect to complete the deal in the fourth quarter, subject to customary closing conditions, such as approval by NextGen shareholders and regulatory clearance. Morgan Stanley & Co. LLC is the financial adviser to NextGen while Latham & Watkins LLP is the company's legal adviser. William Blair & Company served as financial adviser to Thoma Bravo with Goodwin Procter LLP as legal adviser.
– Dotdigital Group PLC agreed to acquire cross-channel personalization technology company Fresh Relevance Ltd. for £25 million, including £18.9 million in cash and £6.1 million in new ordinary shares of Dotdigital. The shares are subject to a 12-month lock-in. Sellers include private equity firm Foresight Group LLP and Foresight VCT PLC, S&P Global Market Intelligence data shows.
– Ardian announced the sale of its investment in Soteria Flexibles Holdings LLC, which manufactures flexible packaging, to TJC LP for an undisclosed amount.
– Cloud solutions provider Accela Inc. announced strategic growth investment from Francisco Partners Management LP and said Berkshire Partners LLC will remain a significant investor with an equal equity holding in the company. Accela did not disclose financial terms of the transaction. Baird acted as financial adviser to Accela and Berkshire Partners, while Shea & Co. was the financial adviser to Francisco Partners.
– L Catterton Partners entered into a partnership with haircare brand Maria Nila AB. L Catterton's European fund acquired a significant minority stake in the company and CEO Marcus Wikström will continue to lead Maria Nila.
– Concord Health Partners LLC announced an investment in behavioral health software platform NeuroFlow Inc. for an undisclosed amount. The investment was made through Concord Innovation Fund II.
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.
