TPG to buy Irth Solutions; FalconPoint Capital aquires SMS

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

– TPG Capital LP agreed to acquire Irth Solutions LLC, a provider of enterprise software for energy and infrastructure companies, from Blackstone Energy Transition Partners. The transaction's terms were not disclosed. TPG will make the acquisition through its middle market TPG Growth LLC platform, aiming to accelerate Irth's growth.

– FalconPoint Capital Partners LLC acquired SMS, a provider of outsourced services, including site environmental services and scrap and slag management, committing $500 million to support its expansion and market share gains. The acquisition is a carve-out of various operating segments of Scrap Metal Services LLC. Moelis & Company LLC acted as the financial adviser, and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as the legal adviser to FalconPoint. Headwall Partners LLC provided financial advice, and Levenfeld Pearlstein, LLC offered legal counsel to Scrap Metal Services.

– In a second corporate carve-out deal, Bow River Capital acquired the asset-based financing business of Park Cities Asset Management, a Dallas-based firm specializing in capital solutions for the lower middle market. The deal's value was not disclosed. This acquisition enhances Bow River's private credit capabilities with a focus on originating privately negotiated, non-traded loans.

– In another corporate carve-out transaction, Pacific Avenue Capital Partners LLC agreed to acquire the Self Service segment of auto aftermarket products provider LKQ Corp. for an enterprise value of $410 million. The transaction aligns with LKQ's strategy to simplify its corporate structure and focus on core segments. Jefferies LLC acted as the financial adviser, and Wachtell, Lipton, Rosen & Katz served as the legal adviser to LKQ. The deal is expected to close in the fourth quarter of 2025, pending regulatory approval.

– Alphabet Inc.'s venture capital arm GV Management Company LLC led a $52 million funding round for Attio Ltd., a data management platform. Point Nine Management GmbH, Balderton Capital (UK) LLP, Redpoint Management LLC and 01 Advisors 01 LP participated as returning investors.

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