Onex buys ISC from KKR; BharCap Partners exits Altus Commercial Receiveables

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

– KKR & Co. Inc. exited Integrated Specialty Coverages, LLC, a tech-enabled insurance platform, through a secondary sale to Onex Corp. Deal value was not disclosed. KKR and ISC were advised by Morgan Stanley & Co. LLC as lead financial adviser and Kirkland & Ellis as legal adviser.

– UK-based private equity firm Noa Capital Partners led a $74 million funding round for PassiveLogic Inc., a company focused on building automation technology. The transaction included participation from investors such as PSP Growthand Prologis Ventures, and returning investors Brookfield Growth Partners, NVentures LLC and Keyframe Capital Partners LP.

– BharCap Partners LLC announced the sale of Altus Commercial Receivables, a division of Armstrong Receivables Company LLC, to Astira Capital Partners LP. Terms of the transaction were not disclosed. BharCap will retain Armstrong Insurance Services. Guggenheim Securities, LLC acted as financial adviser, and Greenberg Traurig, LLP served as legal counsel to Armstrong.

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.