KKR is to acquire CoolIT Systems, a provider of scalable liquid cooling solutions for demanding computing environments. The investment will support the CoolIT’s ability to scale and serve its global customers across the data centre market.

Global Private equity firm Carlyle and Indian billionaire Azim Premji’s investment unit are both in talks to acquire a stake worth around $150 million in TVS Credit Services, an arm of scooter and motorcycle maker TVS Motors, according to a report by Reuters. The report cites unnamed sources as confirming that the two are in competition to acquire a 20% holding in the the business, which has a valuation of around $612 million. TVS Credit traditionally offers loans for two-wheel vehicles and used cars, supporting the business of its parent company, but recently expanded into personal, consumer loans and pre-approved

US private equity firms stepped up their acquisitions of UK businesses by 35% last year, from 134 acquisitions in 2021/22, to 181 in 2022/23, according to new research released by  international law firm, Mayer Brown. UK company valuations had already been relatively depressed in comparison to other European nations, following concerns over Brexit, but the fall in sterling following the last October’s Kwarteng budget, made them even more attractive to US investors.    Paul Rosen, Partner at Mayer Brown, says: “US PE houses still see the fall in sterling as an opportunity to try to acquire high quality assets in

Sullivan Street Partners, a UK-based mid-market private equity investor, is to acquire diagnostic services business Tracerco, alongside longstanding Sullivan Street investor, Scottish family office Souter Investments, from London Stock Exchange-listed firm Johnson Matthey for c£55 million.  The deal is expected to complete in the second half of 2023.    Tracerco is a global business providing specialised detection, diagnostic, and measurement solutions, operating out of sites in 16 countries to service over 50 jurisdictions. Tracerco uses innovative proprietary technologies developed in the UK and Intellectual Property in both nucleonics and chemical tracing.   Sullivan Street brings extensive carve-out and operational expertise

Global infrastructure investment manager I Squared Capital, through its ISQ Global Infrastructure Fund III, is to acquire Rentco, a leading transport equipment leasing company in Australia providing flexible equipment rental options.  I Squared has committed a further AUD300 million to promote Rentco’s growth across the country and pursue new trailer leasing opportunities.  I Squared existing global leasing platforms includes FlexiVan, TIP Trailer Services, and Star Leasing. Following the transaction, I Squared Capital’s global transport and logistics portfolio will have over 264,000 trailers or chassis and 14,423 workshops with 3,700 employees in over 20 countries. Rentco is part of I Squared

Apiary Capital has completed a significant investment in First Intuition, a specialist provider of accountancy training to around 5,000 learners via centres in London, Birmingham, Manchester, and through online and hybrid courses.  The investment will support First Intuition’s management team to grow the company’s apprenticeship and commercial training streams, continue its regional expansion and pursue strategic acquisition opportunities. First Intuition’s apprenticeship and commercial training pathways both lead to qualifications and membership of the four main accounting bodies, the AAT, CIMA, ACCA and ICAEW. Its apprenticeship provision is rated ‘Outstanding’ by Ofsted. First Intuition is the tenth investment in Apiary’s maiden 

2023 is on track to be the worst year for US private equity and venture capital investments in mainland China for at least five years following a dramatic fall in deals in the first quarter of the year, according to a report by S&P Global. Aggregate deal value in the first three months of the year tumbled by more than 86% from $3.03 billion in the same period in 2022 to just $400 million. The number of deals meanwhile, declined to 28 from 61 year over year. First-quarter deal value and volume were also down compared to the fourth quarter

International private equity firm Cinven is to acquire a majority stake in Amara NZero, an energy transition player focused on decarbonisation, electrification, energy efficiency and digitalisation from ProA Capital. Financial terms of the transaction have not been disclosed. Headquartered in Madrid, Amara NZero is a B2B distributor of products and services used in the energy transition market. Drawing on its extensive experience in sustainable energy, Amara NZero is a key contributor to the transition to a low-carbon economy.  ProA Capital, Pablo Arnus, the Company’s Chairperson, and Gonzalo Errejón, the Company´s CEO, will retain minority stakes in the business and remain

Livingbridge, a UK-based mid-market private equity investment firm, has completed a minority investment in T-Pro, a specialist in clinical document workflow software solutions founded in 2012 and headquartered in Dublin.

Global private equity firm TA Associates is to make a strategic growth investment in Diatech Pharmacogenetics (Diatech), a specialist in pharmacogenetics and cancer precision medicine diagnostics.