Deal Wrap is updated as of 3 p.m. ET.
– Gemspring Capital LLC sold Insurvia, an insurance services holding company with subsidiaries that include Fiesta Insurance Franchise Corp. and La Familia Insurance LLC, to a BharCap Partners LLC affiliate. Terms were not disclosed. Robert W. Baird & Co. Inc. served as financial adviser and McDermott Will & Emery LLP was legal adviser to Insurvia and Gemspring.
– Katalysen Ventures AB (publ) acquired all material assets of Germany-based health technology company Smart4Diagnostics GmbH and formed S4DX GmbH. Katalysen, which made the acquisition through a subsidiary and special purpose vehicle, took a 10.4% equity stake in S4DX as a result of the deal.
– An entity controlled by Meiser International GmbH and Dubai Transport Co. LLC, or Dutco Group of Cos., agreed to acquire IKG, a portfolio company of KPS Capital Partners LP that makes metal grating and access infrastructure products. Paul Weiss Rifkind Wharton & Garrison LLP was legal counsel and Jefferies LLC was financial adviser to KPS and IKG on the deal, which is subject to customary closing conditions and approvals.
– An investment affiliate of J.F. Lehman and Co. LLC finalized the purchase of Mission Microwave Technologies LLC, which provides solid-state power amplifiers and block upconverters to the satellite communications industry. Previous Mission majority shareholders — affiliates of Gaas Labs LLC — as well as the company's founders and management will continue as material stockholders in the business. Debt financing for the deal was led by Barings and co-led by PennantPark and SMBC. Jones Day was legal counsel for J.F. Lehman, and King & Spalding advised the firm on government contracts, defense security and international trade. KippsDeSanto & Co. was financial adviser to Mission, and Phillips Lytle was legal counsel for Mission and its majority investors.
– An H.I.G. Capital LLC affiliate agreed to buy Valeo SE's thermal commercial vehicles division in a corporate carve-out deal expected to close later in the year, subject to regulatory approvals. The Germany-based division, which develops thermal management solutions for passenger buses and coaches and refrigerated transportation fleets, will operate as Spheros after deal completion.
– AstraZeneca PLC struck a deal to acquire French biotechnology company Amolyt Pharma SAS, which develops novel drugs for rare endocrine diseases, for a total cash consideration of as much as $1.05 billion. An investor group including EQT Life Sciences and Sofinnova Partners SAS is selling Amolyt in a transaction that could close by the end of the third quarter. Centerview Partners LLC and Goldman Sachs Bank Europe SE were financial advisers to Amolyt, and Cooley LLP and Jones Day were legal advisers to Amolyt and its shareholders.
– Canyon Partners LLC will sell a 19.9% strategic minority stake in its business to Dai-ichi Life Holdings Inc., subject to regulatory consents and other closing conditions that are expected to be met over the coming months. Among other things, Dai-ichi will also commit at least $1.3 billion of limited partner capital to a number of Canyon's commingled funds. Goldman Sachs & Co. LLC and Ardea Partners LP served as financial advisers to Canyon, while Paul Weiss Rifkind Wharton & Garrison was its legal counsel. BofA Securities was financial adviser to Dai-ichi, while Skadden Arps Slate Meagher & Flom LLP was its legal counsel.
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.