Deal Wrap is updated as of 3 p.m. ET.
– New Mountain Capital LLC will make a significant growth investment in Grant Thornton LLP, a provider of audit, assurance, tax and advisory services. The transaction is expected to close in the second calendar quarter, subject to regulatory approval and other customary conditions. Deutsche Bank Securities Inc. is the financial adviser to Grant Thornton, and Dechert LLP and Vedder Price PC are its legal advisers. Mayer Brown LLP is legal adviser to Grant Thornton's partnership board. Simpson Thacher & Bartlett LLP and Hunton Andrews Kurth LLP are legal advisers to New Mountain.
– Ardian completed its purchase of UK-based datacenter platform Verne Global Ltd. from Digital 9 Infrastructure PLC. Ardian will commit up to $1.2 billion to support Verne's expansion effort across Northern Europe and is in the process of securing a green financing package underwritten by a group of tier 1 banks.
– DW Management Services LLC, also known as DW Healthcare Partners, sold DermLite Holdco I Inc., a portfolio company of the private equity firm's Founders Fund that makes dermoscopy tools for detecting skin conditions. The buyer is FotoFinder Systems GmbH, which is backed by EMZ Partners.
– I Squared Capital Advisors LLC added WOW Logistics Co., an integrated supply chain solutions provider, to its portfolio. Kirkland & Ellis LLP was legal adviser to I Squared, while RJM & Co. was the financial adviser to WOW and Michael Best & Friedrich LLP was its legal counsel.
– Spring Capital sold its stake in Catenda, a construction project software company that spun off from SINTEF, to GRO. Spring Capital had invested in Catenda through Polaris, its Scandinavian investment entity.
– SME HCI Ltd., doing business as Vivup, agreed to combine with Perkbox Ltd. to form an all-in-one employee wellbeing, benefits and engagement platform, subject to Financial Conduct Authority clearance. The combined company will receive a strategic majority investment from Great Hill Partners LP, and Vivup backer Omni Partners LLP will retain a minority stake. Sidley is representing Great Hill Partners on the investment.
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.
