Deal Wrap: One Equity in 3 deals; Sutter Hill leads $115M round for Observe

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

– Middle-market private equity firm One Equity Partners made a minority investment in Italy-based agricultural tractor attachment equipment maker CBM SpA One Equity Partners received financial and tax advisory from KPMG and legal advisory from Freshfields. CBM received financial and tax advisory from Studio Bagni Fiorcari Huller and legal advisory from Studio Sutich Barbieri Sutich.

– One Equity Partners, together with Buckthorn Partners LLP, acquired UK-based marine energy and infrastructure solutions company Acteon Group Ltd. One Equity Partners also completed the acquisition of TechnipFMC PLC's Measurement Solutions business. The business, which is being rebranded as Guidant, provides fiscal measurement technologies, facility asset management and automation solutions, and integrated measurement systems deployed across the energy value chain.

– US Innovative Technology Capital Management LLC led a $175 million series C funding round for Celestial AI Inc., creator of the Photonic Fabric. Several other new and existing investors, including AMD Ventures and Temasek Holdings (Pvt.) Ltd. participated in the round.

– Sutter Hill Ventures led a $115 million series B funding round for observability company Observe Inc. Existing investors Capital One Ventures and Madrona Venture Group LLC and new investor Snowflake Ventures also participated in the round.

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.