Deal Wrap: OceanSound acquires PAR Excellence; HGGC to sell AMI

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

– OceanSound Partners LP acquired PAR Excellence Systems Inc., a provider of automated inventory management systems solutions to the healthcare industry, from Northlane Capital Partners LLC. Paul Weiss Rifkind Wharton & Garrison LLP and Holland & Knight LLP acted as legal advisers and Lincoln International LLC served as exclusive financial adviser to OceanSound. Sidley Austin LLP acted as legal adviser and Guggenheim Securities LLC served as exclusive financial adviser to PAR Excellence.

– HGGC LLC agreed to sell AMI, a developer of foundational software and firmware, to Thomas H. Lee Partners LP. BofA Securities served as lead financial adviser to HGGC and AMI, and Kirkland & Ellis acted as legal adviser. Deutsche Bank Securities Inc. also served as a financial adviser.

– Recognize Partners LP made a significant majority investment in IT services provider Blue Mantis Inc. Abry Partners, which has backed the company since 2020, will continue as a minority investor in the company. Willkie Farr & Gallagher acted as legal counsel to Recognize. Citizens served as financial adviser and Kirkland & Ellis acted as legal counsel to Blue Mantis.

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.