Deal Wrap: Sycamore acquires Chico's FAS; Bridges Evergreen exits AgilityEco

Deal Wrap is updated as of 3 p.m. ET.

– New York-based private equity firm Sycamore Partners Management LP completed the take-private acquisition of fashion retailer Chico's FAS Inc. in an all-cash transaction valued at approximately $1 billion. Chico's FAS common shares have ceased trading and are no longer listed on the New York Stock Exchange. Solomon Partners LP was financial adviser to Chico's FAS, and Paul Weiss Rifkind Wharton & Garrison LLP acted as legal adviser. UBS Investment Bank was financial adviser to Sycamore Partners, and Kirkland & Ellis LLP acted as legal adviser.

– Impact-focused equity fund Bridges Evergreen exited home decarbonization business AgilityEco Services Ltd. via a sale to M Group Services Ltd.

– Ohio-based private equity firm Foundation Investment Partners LLC sold its investment in Miljoco Corp., a manufacturer of temperature and pressure management instruments, to DwyerOmega, a portfolio company of Arcline Investment Management LP. Brown Gibbons Lang & Co. was the exclusive financial adviser to Miljoco.

– An affiliate of Peak Rock Capital LLC agreed to sell Paragon Healthcare Inc. to Elevance Health Inc. Paragon is a provider of ambulatory, home infusion and pharmacy services. Jefferies LLC was financial adviser and Kirkland & Ellis LLP was legal adviser to Paragon.

For more private equity deals, read our latest In Play report, which looks at potential private equity-backed M&A, including rumored transactions, each week.