Kingswood to buy Business Unit Paper; Lone Star acquires Hillenbrand

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

– Kingswood Capital Management LP is set to acquire paper-based packaging solutions provider Business Unit Paper from Coveris Management GmbH. As part of the transaction, Business Unit Paper will be rebranded as Paragon Print and Packaging, its original name. Jefferies served as exclusive financial adviser to Kingswood on the transaction, and Kirkland & Ellis LLP acted as legal counsel.

– Bertram Capital Management LLC invested in soccer club Gallos Blancos de Querétaro FC as a significant but noncontrolling member of the ownership group.

– An affiliate of Lone Star completed the acquisition of Hillenbrand Inc. in an all-cash transaction with a total enterprise value of approximately $3.8 billion. With the completion of the deal, Hillenbrand's common stock ceased trading and will be delisted from the NYSE.

– Bertelsmann Investments acquired a majority stake in logistics marketplace Diptab Ventures Private Ltd., doing business as LetsTransport. Through its Indian investment fund Bertelsmann India Investments, Bertelsmann Investments has been an investor in LetsTransport since the end of 2018.

– MPE Mgt. Co. LLC sold MSHS and Pacific Power Group, a provider of maintenance, repair and overhaul solutions for power and propulsion applications, to Industrial Service Solutions LLC, a Wynnchurch Capital LP portfolio company. Citizens Capital Markets & Advisory served as exclusive financial adviser to MSHS and Pacific Power Group, and BakerHostetler acted as legal counsel.

– KPS Capital Partners LP is set to acquire The Wells Companies Inc., a prefabricated building solutions provider. Paul Weiss Rifkind Wharton & Garrison LLP acted as legal counsel to KPS. Taft Stettinius & Hollister LLP acted as legal counsel to The Wells Companies, and Piper Sandler served as financial adviser.

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.