Deal Wrap: General Atlantic to add GRESB to portfolio; Forward buys Firehook

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

– General Atlantic Service Co. LP will acquire a majority stake in GRESB BV, a provider of sustainability standards and benchmarks for real assets, from Summit Partners LP. Summit Partners will remain a minority shareholder in the business following the close of the deal, which is subject to regulatory approvals. General Atlantic will make the investment through its BeyondNetZero climate growth fund. Moelis was financial adviser to Summit Partners, and Milbank acted as legal adviser. Weil Gotshal and De Brauw were legal advisers to General Atlantic.

– Forward Consumer Partners LLC added Firehook Bakery, an artisan baking business, to its portfolio. Firehook founder Pierre Abushacra will continue to own a significant minority stake in the business. Novelty Hill Capital and Stein Sperling advised Firehook, and Houlihan Lokey and Kirkland & Ellis advised Forward.

– Somera Private Equity LLC and strategic partner Entrepreneurial Equity Partners LP purchased a majority stake of the underlying entities behind the Ty-Gard and Shock-Gard products, with existing owner Matthew Bullock retaining a significant equity stake in the business. The purchase was made through Gardian Holdings LLC, a new holding company vehicle. PSP Capital Partners LLC also acquired a minority interest in the business.

– OEP Capital Advisors LP, doing business as One Equity Partners, completed the sale of pan-European packaging materials specialist Walki Group Oy to Oji Holdings Corp.

– One Equity Partners acquired Ballymore Safety Products, which makes custom access stands, platforms and systems, from Graycliff Partners LP. Fairmount Partners and BlackArch Partners were co-financial advisers to Graycliff and Ballymore, and Akerman LLP was legal counsel.

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.