Deal Wrap: Mayfair sells Poly-Wood; Mubadala to acquire Kelix Bio

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

– An investor group led by Arsenal Capital Partners, in partnership with BayPine LP, acquired outdoor living product manufacturer Poly-Wood LLC from Mayfair Capital Partners. Financial terms of the deal were not disclosed. Piper Sandler & Co. was lead financial adviser to Poly-Wood. Moelis & Co. LLC also served as financial adviser to Poly-Wood, and Nelson Mullins Riley & Scarborough LLP was legal counsel. Baird was financial adviser to Arsenal and BayPine, and Kirkland & Ellis LLP was legal counsel.

– A consortium of investors including Polaris Private Equity announced a recommended public offer of 132 Swedish kronor in cash per share to the shareholders of loyalty program operator Awardit AB (publ). The consortium currently controls a total of 4,278,018 shares in Awardit, corresponding to about 49.4% of the shares in the company. The total value of the offer, based on the 4,382,830 shares in Awardit not directly or indirectly owned by the consortium or their respective closely related parties, amounts to about 579 million Swedish kronor.

– Mubadala Investment Co. PJSC agreed to acquire pan-African biopharmaceutical platform Kelix Bio Ltd. from Development Partners International LLP, British International Investment PLC, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV and the European Bank for Reconstruction and Development, according to S&P Global Market Intelligence data. Allen & Overy LLP was legal adviser to Development Partners International, British International Investment and the European Bank for Reconstruction and Development. The transaction is subject to regulatory approval.

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.