Serent invests in Sai Systems; Mutares to sell InTime Express

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

- Serent Capital Management Co. LLC invested in healthcare technology platform Sai Systems International Inc.

- Mutares SE & Co. KGaA agreed to sell all subsidiaries of logistics services company inTime Express Logistik GmbH, including Trans-Logo-Tech Gmbh and Routewise GmbH, to Tawin Holdings Ltd. The deal is expected to close in March.

- Huafu Capital Management Co. Ltd. sold a 2% share in photovoltaic products manufacturer and energy solutions provider Trina Solar Co. Ltd. to an investor group comprised of Morgan Stanley & Co. International PLC, China Asset Management Co. Ltd., Caitong Fund Management, Nuode Asset Management Co. Ltd., Guolian Minsheng Securities Co. Ltd., Huatai-PineBridge Fund Management Co. Ltd., AEGON-Industrial Fund Mgmt Co., Haitong Securities Co. Ltd., Citic Securities Co. Ltd., GF Securities Co. Ltd., Yongxing Securities Co. Ltd., Ningbo Meishan Bonded Port Area Lingding Investment Management Co. Ltd. and Beijing Junyuan Asset Management Co. Ltd. for $117.69 million, according to S&P Global Market Intelligence data.

- Servier Pharmaceuticals LLC entered into a definitive agreement to acquire Day One Biopharmaceuticals Inc., a biopharmaceutical company backed by an investor group including Atlas Venture Advisors Inc., Canaan Management Inc., Perceptive Advisors LLC, RA Capital Management LP, Access Biotechnology and Frazier Life Sciences Management LP, for $21.50 per share in cash. Goldman Sachs Bank Europe SE is acting as financial adviser to Servier, and Baker McKenzie is its legal counsel. Centerview Partners LLC is financial adviser to Day One, and Fenwick & West LLP is its legal counsel. The transaction is expected to close in the second quarter.

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.