PE Weekly: M&A Roundup Oct. 2-8

Platform Investments

Marlin Equity Backs Rystad Energy. Marlin Equity Partners signed a definitive agreement to provide a growth investment in Rystad Energy, a provider of energy intelligence, research, data analytics, and consulting services. Rystad serves energy producers, investors, governments, and industrial companies.

OceanSound Invests in IMSAR. OceanSound Partners, which focuses on A&D technology and services investments, made an investment in IMSAR. The company is a developer of compact synthetic aperture radar (SAR) systems for defense, intelligence, and commercial applications.

Kohlberg Acquires Majority Stake in AID. Kohlberg acquired a majority stake Advanced Industrial Devices (AID), a manufacturer and distributor of flow control, instrumentation, and industrial automation products. AID serves data center, water infrastructure, electric utility, and industrial customers.

Aurora Capital Acquires Softdocs. Aurora Capital Partners acquired Softdocs, a provider of workflow automation, forms management, and document management software for higher education institutions and government agencies. The company helps customers digitize administrative processes, reduce manual work, and improve operational efficiency.

Add-ons

Main Capital’s Fraxion Acquires Yellow Dog Software. Fraxion, a provider of procurement and spend management software, acquired Yellow Dog Software, an inventory management software business. The add-on expands Fraxion’s procure-to-pay platform functionality. Fraxion is backed by Main Capital Partners.

Sojourner Deal Forms Consumer Staples Platform. Sojourner Consumer Partners announced a merger between portfolio company Lornamead Products and AMG Brands, a transaction valued at $279 million. The combination of the businesses results in the formation of LPNA Group, a consumer staples platform in Sojourner’s portfolio.

Argosy’s WIZE Solutions Expands with Four Add-ons. WIZE Solutions, a material handling solution provider, announced a series of acquisitions with support from its sponsor, Argosy Private Equity. WIZE acquired ESSI and ESSI Midwest to expand its industrial material handling reach. The business also acquired Tech Products and Warehouse Equipment Solutions to expand its automation capabilities and introduce new service offerings.

Align Capital’s Advantage Investigations Acquires NorStar. Advantage Investigations, a national insurance investigative services platform backed by Align Capital Partners, acquired NorStar Investigations. The businesses provide surveillance, background checks, insurance fraud, insurance claim, and legal investigation services.

Strategics

Roland Foods Partners with Dot Foods, Carves Out Savor Brands. Roland Foods, which sells ingredients to the foodservice sector as well as in retail locations, announced it will acquire Savor Brands from Dot Foods as part of a broader partnership between the businesses. Under their agreement, Dot Foods will receive an equity interest in Roland Foods, while Rolan’s portfolio of food products will gain access to Dot’s redistribution network to broaden its reach to foodservice, retail, and distribution customers.

Exits

PSP Capital Exits StormTrap Investments to ADS. PSP Capital has sold StormTrap Investments LLC, a stormwater solutions provider, to publicly listed Advanced Drainage Systems. The water management solutions provider acquired the business for about $450 million.

Fundraising

Sheridan Capital Raises $1.1 billion. Sheridan Capital Partners announced the close of its Fund IV with $1.1 billion in capital commitments. The firm focuses on the healthcare industry and noted that Fund IV is nearly double the size of its Fund III “despite market challenges.”