KPS to acquire controlling stake in Novacel; Kohlberg to exit ENTRUST

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

– KPS Capital Partners LP agreed to acquire a controlling stake in surface protection solutions manufacturer Chargeurs Films De Protection, also known as Novacel, from Compagnie Chargeurs Invest, which will retain 25% ownership. Rothschild & Co served as financial adviser and Paul Weiss Rifkind Wharton & Garrison LLP acted as legal counsel to KPS.

– Actility SA, a company that provides low-power wide-area network solutions and is backed by investors including Creadev SAS, Robert Bosch Venture Capital GmbH, Eurazeo SE, Connect Topco Ltd. and Cisco Investments, was acquired by Netmore Group AB.

– Southfield Capital LP acquired AI platform Contextual.io.

– Brynwood Partners VIII LP sold pizza manufacturer Great Kitchens Food Co. Inc. to Rich Products Corp. Great Kitchens was represented by Goldman Sachs & Co. LLC as its financial adviser and Winston & Strawn LLP on legal matters.

– Kohlberg & Co. LLC is set to exit consulting and engineering services platform ENTRUST Solutions Group LLC, which also has backing from Neuberger Berman Group LLC, in a sale to Leidos Inc. Houlihan Lokey and Perella Weinberg Partners are serving as financial advisers and Ropes & Gray is acting as legal adviser to Kohlberg and ENTRUST. Leidos retained Citi as financial adviser and Davis Polk & Wardwell LLP as legal adviser in connection with the transaction.

– JLL Partners LLC acquired PowerParts Group, a provider of replacement parts and field services for gas and steam power turbines. Harris Williams served as financial adviser to JLL.

– Adenia Partners Ltd. is set to acquire a majority stake in cosmetics business Parkville Pharmaceuticals from Admaius Capital Partners. Baker McKenzie served as legal adviser to Adenia.

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