Private equity firm PAI Partners (PAI) is to acquire Alphia, one of the largest pet food co-manufacturers in North America, from JH Whitney Capital Partners. Terms of the transaction have not been disclosed.

PAG, an alternative investment firm focussed on investments in the Asia Pacific region, is to acquire a controlling interest in Australian Venue Co (AVC), a food and beverage hospitality business, from KKR. Financial terms of the transaction have not disclosed.

German Equity Partners V (GEP V), a fund managed by independent German investment company ECM Equity Capital Management (ECM), has sold its majority stake in Berlin software developer PikeTec to Synopsys, a US-based specialist in electronic design automation (EDA) and semiconductor IP.

Growth-focused private equity firm Phoenix Equity Partners has made an investment in Nostra Technologies, a managed IT services provider in Ireland, alongside founders Kevin O’Loughlin and Barry O’Loughlin.

Financial software business Ramp, which is looking to build a comprehensive platform for finance teams including software to monitor expenses and manage vendors, has raised $300m from investors at a $5.8bn valuation.

Funds managed by private investment firm Apollo have acquired a majority interest in Composite Advanced Technologies (CATEC), a provider of compressed natural gas (CNG), renewable natural gas (RNG) and hydrogen transportation and storage solutions in the United States.