Deal Wrap: Advent exits V.Group; Gemspring sells stake in Sparkstone Electric

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

– Advent International LP exited its investment in shipping industry service provider Vouvray Acquisition Ltd. doing business as V.Group, with its acquisition by a STAR Capital Partnership LLP-led consortium of investors.

– Audax Management Co. LLC exited Elm Home & Building Solutions, the trade name of I Inc., via its sale to Great Day Improvements LLC. Houlihan Lokey and William Blair were financial advisers and Kirkland & Ellis LLP and Fredrickson & Byron PA were legal advisers to Elm and Audax.

– Gemspring Capital LLC sold its minority stake in Sparkstone Electric Group, a power distribution products and services provider. McGuireWoods was legal adviser to Gemspring.

– TowerBrook Capital Partners LP completed a majority equity investment in wind turbine repair business LiftWerx Solutions Inc.

– Searchlight Capital Partners LP and Ares Management Corp. co-led a $1 billion mature funding round for engineering and environmental consultancy RSK Group Ltd.

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.