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Deal Wrap: Ara sells Priority Power; Portage leads Faye funding round

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Deal Wrap: Ara sells Priority Power; Portage leads Faye funding round

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

– Ara Partners Group LLC sold energy management business Priority Power Management LLC to I Squared Capital Advisors LLC. Jefferies LLC and BMO Capital Markets were financial advisers to Priority Power and Latham & Watkins LLP was legal adviser. BofA Securities was financial adviser to I Squared and White & Case LLP was legal adviser.

– Portage Ventures LP led $31 million Series B round for travel insurance business Zenner Inc., doing business as Faye.

– CORE Industrial Partners LLC acquired a majority stake in cosmetics and skincare company Glow Concept Inc., doing business as Winky Lux, for an undisclosed amount. Raymond James was CORE's financial adviser.

– SK Capital Partners LP agreed to acquire the North America Composites & Fuel Containment division of machinery manufacturer Parker-Hannifin Corp. Latham & Watkins LLP was SK Capital's legal adviser and J.P. Morgan Securities LLC was financial adviser. Jones Day was Parker-Hannifin's legal adviser and Lazard was financial adviser.

– MiddleGround Management LP acquired a majority stake in UK-based electric motor manufacturer Integral Powertrain Ltd., doing business as Helix. Clifford Chance LLP was MiddleGround's legal adviser and Alvarez & Marsal was financial adviser.

– Ardian agreed to sell Italian human resources and payroll solutions provider F2A Srl to SD Worx NV for an undisclosed amount. PedersoliGattai was Ardian's legal adviser and PwC was financial adviser. EY was financial adviser to SD Worx and Linklaters was legal adviser.

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.