Deal Wrap: H.I.G. sells ICG Group; MiddleGround takes L.S. Starrett private

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

– H.I.G. Capital Partners LP agreed to sell communications infrastructure business Infratech/comcross Holding GmbH, known as ICG Group, to SPIE SA.

– Stride Consumer Partners LLC led a $52 million Series B funding round for baby food business Serenity Kids Inc.

– Precision tool manufacturer The L.S. Starrett Co. agreed to be taken private by MiddleGround Management LP. Lincoln International LLC was financial adviser to Starrett and Ropes & Gray LLP was legal adviser. William Blair & Co. LLC was financial adviser to MiddleGround and Dechert LLP was legal adviser.

– Arsenal Capital Partners agreed to buy two businesses from contract research organization Fortrea Holdings Inc. It is acquiring Endpoint Clinical, a provider of randomization and trial supply management and Fortrea Patient Access, a provider of patient support, product access, affordability and adherence solutions to the biopharmaceutical industry.

– Transom Capital Group LLC sold Aspen OpCo LLC, doing business as Aspen Publishing, a provider of legal education content, to UWorld LLC. William Blair was financial adviser for Aspen and Kirkland & Ellis LLP was legal adviser.

– Foundation Investment Partners LLC acquired industrial power tools and equipment distributor Spartan Tool Supply.

– Monroe Capital LLC acquired a strategic minority interest in single-family rental platform Second Avenue, the doing-business name of Residential Homes For Rent LLC.

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.