Deal Wrap is updated as of 3 p.m. ET.
– CloudMD Software & Services Inc. has agreed to be taken private by CPS Capital, which will buy the health services company through an affiliate for 4 Canadian cents per share in cash. CPS Capital will use equity from CPS Partners Fund V and CPS Partners Fund IV to finance the deal. Infor Financial is the strategic and financial adviser to CloudMD. Cassels Brock & Blackwell LLP and Owens Wright LLP are the legal advisers to CloudMD and CPS Capital, respectively.
– Mubadala Investment Co. PJSC, through its asset management unit Mubadala Capital, finalized the acquisition of a 90.01% stake in Fortress Investment Group LLC in partnership with the latter's management. SoftBank Group Corp. sold the stake for undisclosed terms. A consortium led by Mubadala Capital now holds a 68% equity interest in Fortress, while the remaining 32% is held by the company's management. Ardea Partners was financial adviser and Shearman & Sterling LLP, now known as A&O Shearman, was legal counsel to Mubadala. Goldman Sachs & Co. LLC was financial adviser and Kirkland & Ellis was legal adviser to Fortress' senior management, while Skadden Arps Slate Meagher & Flom LLP represented Fortress in the transaction. The Raine Group was the financial adviser and Morrison Foerster was legal counsel to SoftBank.
– Sterling Partners's Avathon Capital fund purchased Summit Professional Education LLC, a provider of continuing education for allied health professionals, from Greybull Stewardship LLC. Houlihan Lokey was the financial adviser to Summit on the deal.
– Trinity Capital Inc. made a $25 million growth capital commitment to EdBlox Inc. Also known as Elevate K-12, the education technology company provides live teaching for classrooms across the US.
– The Watermill Group invested in Musser Lumber and operating unit Musser Biomass and Wood Products, which makes premium dried hardwood fiber and related converted products. Energy Impact Partners' Credit Group provided debt financing for the transaction, while Pinnacle Financial Partners provided the operating line of credit. Richter Consulting was financial due diligence adviser, Jasso Lopez was legal counsel and Blais Halpert was tax counsel to Watermill. Gentry Locke provided legal counsel and Brown Gibbons Lang & Co. provided advisory services to Musser Lumber.
– Paini SpA Rubinetterie is acquiring KWC Home from KWC Group AG, a Switzerland-based maker of sanitary room equipment, fittings and water management systems that is majority-owned by funds advised by Equistone Partners Europe Ltd. The Equistone funds will mainly support KWC Professional, one of KWC Group's two remaining business divisions, following the partial exit. DC Advisory, Bär & Karrer and KPMG advised Equistone on the deal.
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.
