Deal Wrap is updated as of 4 p.m. ET.
– TPG Inc. agreed to acquire a majority stake in Crowe Health Consulting from public accounting, consulting and technology company Crowe LLP. The firm will establish the company as an independent entity and will rebrand it as Kodiak Solution on completion of the deal, which is expected in the fourth quarter, subject to regulatory review and customary closing conditions. Harris Williams was the financial adviser to Crowe, while Winston & Strawn LLP served as its legal adviser. TripleTree LLC acted as financial adviser to TPG, with Debevoise & Plimpton LLP as the legal counsel for the firm.
– Literacy Capital PLC divested a significant investment to an undisclosed buyer. The firm plans to use the proceeds to fully repay its revolving credit facility.
– Trustly Group AB is joining forces with European recurring payment fintech SlimPay SA for an undisclosed amount. Private equity firm Prime Ventures is exiting SlimPay with the deal, which is subject to customary regulatory approvals, according to S&P Global Market Intelligence data.
– Funds advised by SK Capital Partners LP completed the acquisition of Isolatek International, which manufactures and supplies passive fireproofing technologies, for an undisclosed amount. Goodwin Procter LLP served as legal counsel to SK Capital, while Keating Muething & Klekamp PLL was the legal counsel to Isolatek.
– Summit Partners LP made a growth investment in testing, inspection and certification services provider CERTANIA Holding GmbH and said the funding will support the company’s acquisition strategy. CERTANIA’s founding investor, GREENPEAK Partners Advisory GmbH, will retain significant equity in the company. Summit expects to close the deal in the fourth quarter, subject to regulatory approval.
For further private equity deals, read our latest In Play report, which looks at potential private equity-backed M&A, including rumored transactions, each week.