Deal Wrap is updated as of 3 p.m. ET.
– California-based Platinum Equity LLC agreed to acquire PlayPower Inc., a designer and manufacturer of recreational and outdoor living systems, from Littlejohn & Co. LLC. Financial terms were not disclosed. The transaction is expected to close in the fourth quarter of 2025, pending regulatory approvals. Goldman Sachs served as Platinum Equity's financial adviser, and Simpson Thacher & Bartlett LLP provided its legal counsel. Lincoln International was Littlejohn's financial adviser, and Gibson, Dunn & Crutcher LLP served as its legal adviser. Jamieson Financial advised PlayPower's executive management team.
– Chicago-based Riverspan Partners acquired United Titanium, Inc., a US manufacturer of specialty alloy fasteners and components made from titanium, zirconium and other specialty metals. The financial terms of the transaction were not disclosed. KeyBanc Capital Markets Inc. acted as United Titanium's financial adviser, and BakerHostetler served as its legal adviser. Lincoln International LLC was Riverspan Partners' financial adviser, and Latham & Watkins was its legal counsel.
– Bluestar Alliance LLC will acquire Williamson-Dickie Manufacturing Company LLC, which supplies the Dickies brand of workwear and streetwear, from VF Corp. for $600 million in cash. The transaction is expected to close by the end of the year, subject to customary closing conditions and regulatory approvals. UBS acted as the financial adviser to VF Corporation, while Davis Polk & Wardwell LLP served as its legal adviser.
– CVC Capital Partners PLC's infrastructure investment fund CVC DIF signed a definitive agreement to acquire CARMA Industries Inc., a Canadian submetering and building services platform, from TerraNova Partners LP. The value of the deal was not disclosed. The transaction is expected to close in the fourth quarter, subject to customary conditions. National Bank Capital Markets served as CVC DIF's financial adviser, Davies Ward Phillips & Vineberg LLP was its legal adviser, and Leo Berwick served as its financial and tax adviser. Jefferies LLC served as the exclusive financial adviser to Carma. Stuart English and Stikeman Elliott LLP acted as legal advisers to Carma and TerraNova Partners, and MNP provided legal and tax advice.
– GTCR LLC, in a secondary deal, agreed to acquire smart home security systems company SimpliSafe Inc., from Hellman & Friedman LLC. The transaction is expected to close in the fourth quarter. Financial terms of the deal were not disclosed. SimpliSafe will remain under the leadership of CEO Christian Cerda, with founders Chad and Eleanor Laurans as substantial investors and board members. Kirkland & Ellis LLP served as GTCR's legal adviser. J.P. Morgan Securities LLC and Raymond James served as financial advisers to SimpliSafe. Goodwin Procter LLP provided legal counsel to SimpliSafe and its founders. Simpson Thacher & Bartlett LLP provided legal counsel to Hellman & Friedman.
National security-focused private equity firm Rochefort Management Llc led a $290 million funding round in Divergent Technologies Inc., a company that provides technology to design and build digital vehicle structures. Rochefort contributed $120 million to the round, which included $250 million in equity and $40 million in debt, raising Divergent's post-money valuation to $2.3 billion.
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