Arsenal sells Applied Adhesives to Bertram; New Mountain buys NSM Insurance unit

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

– Arsenal Capital Management LP sold US adhesive products maker Applied Adhesives, to Bertram Capital Management LLC. Houlihan Lokey Capital Inc. and Lincoln International LLC were Applied's financial advisers. Sidley Austin LLP and Faegre Drinker Biddle & Reath LLP were its legal advisers.

– New Mountain Capital LLC acquired the US commercial insurance division of NSM Insurance Group LLC.

– Avem Partners acquired substantially all assets of aircraft parts maker Dynamic Aerostructures LLC, including its affiliates, where are collectively FMI Aerostructures Inc.

– Velocity Capital Management agreed to acquire an ownership stake in UK-based sports talent agency Unique Sports Management 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.