Deal Wrap: H.I.G. to exit IT company DGS; Eurazeo leads Cognigy's series C round

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

– H.I.G. Capital LLC agreed to sell Rome-based IT company DGS SpA, which specializes in digital transformation and cybersecurity services. DGS' co-founders and management team are partnering with Intermediate Capital Group PLC to acquire DGS.

– Eurazeo SE, through Eurazeo Growth Fund IV, invested €50 million in Cognigy GmbH as part of the AI-driven customer service company's series C funding round. Eurazeo led the round, which totaled €93 million and included participation from existing Cognigy investors Insight Partners, DTCP and DN Capital (UK) LLP.

– MiddleGround Capital purchased Netherlands-based GMS Instruments, which provides measurement, regulation and control instruments to the maritime and offshore sector. GMS will become part of W&O Supply Inc., a business unit of MiddleGround portfolio platform PVI Holdings Inc.

– Food Cycle Sciences Corp., a food waste management solutions company behind the FoodCycler product, secured investment from Power Sustainable Lios Inc. Power Sustainable Lios is an agricultural food-focused private equity platform and a unit of Power Sustainable Capital Inc.

– A company providing supply chain management services to US government agencies received a $32.8 million investment from Main Street Capital Corp. Main Street and its coinvestor facilitated the investment in partnership with the company's management team. Through equity warrant participation, Main Street funded $32.8 million of first lien, senior secured term debt.

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.