Platform Investments

Sound Growth Backs Diamond Art. Sound Growth Partners invested in Diamond Art Club, which sells craft kits featuring patented tools and exclusively licensed artwork from more than 500 independent artists. Cofounders Angie Shehaj and Alexandre Perrier retained significant equity stakes in the business.

Bain Capital Acquires Everllence Stake from Volkswagen. Bain Capital agreed to acquire a majority stake in Everllence from Volkswagen Group, according to a press release. Everllence develops and manufactures marine engines, power engines, and turbomachinery serving shipping, naval defense, power generation, and industrial customers. Volkswagen will retain a minority ownership stake following the transaction.

Hull Street Acquires Power Plants from Rockland Capital. Hull Street Energy, an energy-focused investment firm, completed the acquisition of two power plants from Rockland Capital, adding the assets to its Milepost Power platform. The acquired facilities expand Hull Street’s power generation portfolio to nearly 5,000 MW.

Vistria Acquires Majority Stake in Curi Capital. Middle-market private equity firm The Vistria Group agreed to acquire a majority stake in Curi Capital, a registered investment adviser with more than $14 billion in assets under advisement. Curi provides wealth management, financial planning, and investment advisory services. Existing shareholders, including Curi Holdings and Wealth Partners Capital Group, will remain investors in the business.

Add-ons

CVC Capital’s TMF Group Acquires Navigator Partners. TMF Group, a provider of global administrative and compliance services, acquired Navigator Partners, a Finland-based provider of fund administration services. TMF Group is jointly owned by CVC Capital Partners and its parent, the Abu Dhabi Investment Authority.

TSCP’s ATIS Acquires AuditMate. ATIS, a provider of elevator and escalator inspection services backed by Thompson Street Capital Partners, acquired AuditMate. The company provides elevator auditing and asset management software.

Fort Point’s NewBold Acquires Spender Technologies. NewBold Technologies, a technology managed services provider backed by Fort Point Capital, acquired Spencer Technologies. Spencer provides technology deployment, support, and lifecycle services to retail, grocery, and quick-service restaurant customers.

Exits

Windjammer Exits IPS Group. Windjammer Capital agreed to sell portfolio company IPS Group to Nayax for $350 million on a cash-free, debt-free basis. IPS provides smart parking infrastructure for municipalities, universities, and parking operators. Nayax is listed on the NASDAQ.

Flexpoint Exits ArtesRx to Linden Capital. Private investment firm Flexpoint Ford exited ArtesRs to Linden Capital Partners, according to a recent press release. ArtesRx is a behavioral health pharmacy platform serving patients with serious mental illness, substance use disorders, and intellectual and developmental disabilities.

Genstar Exits First Eagle to Victory Capital.  Global asset management firm Victory Capital Holdings agreed to acquire First Eagle Investments from private equity firm Genstar Capital and First Eagle employees. First Eagle is a global asset manager with approximately $222 billion of AUM. The firm will retain its brand, investment autonomy, and investment processes following the acquisition.

Fundraising

Crestline Raises $625 Million. Crestline Management announced it has closed Crestline European Capital Solutions Fund II with $625 million in capital commitments. The fund will provide tailored capital solutions, ranging from senior debt to structured equity, for asset-backed and lower-middle-market companies across Northern and Western Europe, with a focus on businesses supported by real estate, infrastructure, transportation, and other tangible assets.

Insights

ArcLight Forms Transmission Infrastructure Company. ArcLight Capital Partners announced it is committing $1 billion of equity to launch Anchor Point Transmission, an independent transmission infrastructure company. Anchor Point will partner with utilities to develop, own, and operate high-voltage transmission assets supporting growing electricity demand driven by electrification, manufacturing, data centers, and artificial intelligence-related power needs.

ACG Insights is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.