Deal Wrap is updated as of 3 p.m. ET.
– PAI Partners signed a deal to acquire a majority stake in Italy-based professional haircare platform Beautynova Group from Bluegem Capital Partners LLP. BlueGem remains a significant shareholder in Beatuynova. Houlihan Lokey, BPER Corporate & Investment Banking, Latham & Watkins, PwC, PedersoliGattai and ERM were advisers to Bluegem. Raymond James, Banca Akros Banco BPM, Unicredit, White & Case, New Deal Advisors, OC&C, PwC TLS, Latham & Watkins, Willkie Farr & Gallagher and Ramboll were advisers to PAI. Alvarez & Marsal and Boston Consulting Group were advisers to Beautynova.
– Oakley Capital Ltd. is set to buy a majority stake in Horizons Optical SL, a Spanish provider of medical software to eyeglass lens manufacturers, from Sherpa Capital Entidad Gestora SGEIC SA. Oakley will invest alongside Horizons CEO Santiago Soler, who will keep a significant stake in the business.
– Kinderhook Industries LLC acquired collision repair provider Kaizen Auto Care LLC, partnering with existing investor LNC Partners and Jacob Tilzer, president of Kaizen. Kirkland & Ellis LLP was legal adviser to Kinderhook, and DLA Piper LLP was legal adviser to Kaizen and LNC. Twin Brook Capital Partners provided financing for the deal.
– EV Private Equity's Energy Ventures III LP exited its investment in Deep Casing Tools Ltd., a provider of downhole technology solutions to the oil and gas industry, with the latter's acquisition by Drilling Tools International Corp. Winston & Strawn LLP was legal adviser to Drilling Tools and KPMG was its financial due diligence and tax due diligence adviser. Piper Sandler was financial adviser and DLA Piper LLP (US) and DLA Piper Scotland LLP were legal advisers to Deep Casing.
– Wynnchurch Capital LP will exit its investment in valve, fitting, flange and related flow-control product manufacturer LPW Group Holdings Inc., which agreed to be acquired by funds managed by Oaktree Capital Management LP. Latham & Watkins LLP was legal adviser to Oaktree. Foley & Lardner LLP was legal adviser to Wynnchurch, and Piper Sandler and BMO were financial advisers.
– GTCR LLC acquired Cloudbreak Health LLC, a healthcare technology business providing video-focused language interpretation services, in an approximately $180 million carve-out deal with UpHealth Inc. Stifel and Moelis & Co. were financial advisers to GTCR. Monroe and Barings provided debt financing for the deal. Kirkland & Ellis LLP was legal counsel.
– U.S. Venture Partners and B Capital Group Management LP led a $52.5 million series C round for Carlsmed Inc., developer of a spine surgery platform.
– Faction Ventures LLC, or Lightspeed Faction; Jump Crypto; and Pantera Capital led a more than $60 million series A round for Figure Markets Inc., developer of a decentralized financial marketplace.
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.
