Deal Wrap: L Squared to exit Raptor Scientific; Cerberus buys into M1 Support

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

– L Squared Capital Partners agreed to sell Raptor Scientific LLC to aerospace and defense company peer TransDigm Group Inc. in a $655 million all-cash deal, which is subject to regulatory approval and customary closing conditions. Harris Williams & Co., Vedder Price PC, PwC and CSP Associates advised L Squared and Raptor Scientific on the transaction.

– Cerberus Capital Management LP acquired a controlling stake in M1 Support Services, an aircraft maintenance, repair and overhaul services provider. M1's co-founders will continue as investors in the business.

– LO3 Capital invested in NewCo Plastics LLC, a platform established by White Wolf Capital Group that provides custom plastic injection molded parts and custom molds. The funding, which is in the form of senior subordinated debt and equity investment, was meant to support NewCo's purchase of Magenta LLC and its affiliates, Permian Plastics LLC and MM Plastics LLC.

– Asplundh Tree Expert LLC bought electrical testing and field services company Voltyx Energy Solutions from an investor group including Arcline Investment Management LP and IGP Industries LLC-sponsored Industrial Growth Partners V LP. BofA Securities acted as financial adviser, and Davis Polk & Wardwell as legal adviser, to Asplundh.

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.