Deal Wrap: Arbor exits Concord Foods; MiddleGround acquires It8

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

– Arbor Investments exited its investment in Concord Foods LLC, a supplier of retail food products and custom ingredients, with its sale to PPC Investment Partners LP-backed Sugar Foods Corp., according to S&P Global Market Intelligence data.

– MiddleGround Management LP acquired engineering services company It8 Software Engineering S.L.

– Court Square Capital Management LP made a strategic investment in digital transformation services provider Velosio. Baird was financial adviser and Dechert LLP was legal adviser to Court Square. Guggenheim Securities was financial adviser to Velosio.

– Grom Social Enterprises Inc. entered into a nonbinding letter of intent to acquire Grishin Robotics-backed Arctic7 LLC, a gaming industry service provider.

– Novacap agreed to acquire next-generation 911 service developer Communications Venture Corp. Inc., which does business as INdigital. Houlihan Lokey was exclusive financial adviser and Dentons acted as legal adviser to INdigital. Foley & Lardner was legal adviser to Novacap.

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.