Investindustrial to buy 2 Italian companies; PAI Partners to exit Marcolin

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

– Investindustrial, through a unit of its Investindustrial Growth III fund, agreed to buy the DEA Group — comprising DEA System SpA and DEA HT Srl — and EL.MO. Security Holding IT Srl. The acquisition of the two Italian companies will create a new access automation, control and surveillance solutions group with a total turnover of about €100 million, four production sites and commercial branches across Europe.

– PAI Partners SAS and other minority shareholders agreed to sell Italian eyewear company Marcolin SpA to VSP Vision Care Inc. in a deal expected to close in the fourth quarter. CapM Advisors was the financial adviser and Latham & Watkins was the legal adviser to Marcolin's shareholders. Kirkland & Ellis LLP and Chiomenti were legal advisers to VSP on the deal.

– AI inference solutions provider Baseten Labs Inc. secured $150 million in a series D funding round led by Bond Capital Management LP. Conviction Partners LLC, CapitalG Management Co. LLC and other investors also participated in the round.

– Banco Santander SA unit Santander Alternative Investments SGIIC S.A.U. provided strategic funding to Corinex Communications Corp., a Canadian company specializing in smart grid technologies and broadband over power line solutions.

Disclaimer: This content may be AI-assisted and is composed, reviewed, edited and approved by a human at S&P Global.

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.