An affiliate of Veritas Capital (Veritas), a technology and government investment firm, is to acquire Sequa Corporation (Sequa), parent company of Chromalloy, from funds managed by global investment firm Carlyle. Financial terms of the transaction have not been disclosed. Sequa, through its subsidiary Chromalloy, is a global technology company and a solutions provider for aircraft engines and gas turbines. For over 70 years, Chromalloy’s solutions extended the life of aircraft engines and gas turbines, improving the economics of flight and power generation. Chromalloy is Sequa’s only remaining business, following the sale of its Precoat Metals business to AZZ Inc earlier

Axar Capital Management (Axar) has completed its acquisition of Pavonia Life Insurance Company of Michigan (Pavonia), a Michigan domiciled life insurance company. Financial terms of the transaction have not been disclosed.  As part of the acquisition, Axar has partnered with Mark Zesbaugh, an executive with 30 years of experience in the insurance industry, who has been appointed Executive Chairman of Pavonia.   Axar Capital Management LP is an investment manager focused on value-oriented and opportunistic investing. Axar’s investment team focuses on opportunities across the capital structure in complex situations, event driven opportunities and as a provider of debt and equity

Arbonics, a new climate tech start-up, has raised €1.8 million in a pre-seed round from Taavet Hinrikus with Plural to spearhead the development of its data- and science-driven tool that aims to make calculating the potential carbon income of land and forests quicker and easier for landowners in Europe. Founded by Kristjan Lepik and Lisett Luik in early 2022, Arbonics enables nature-based solutions to fight climate change, focusing particularly on forestry. By transforming how landowners analyse and calculate their carbon sequestration potential – the process of capturing, securing and long-term storage of carbon dioxide from the atmosphere – Arbonics will

Rockbridge Growth Equity (Rockbridge), a partnership-oriented middle market private equity firm with a differentiated approach to building and growing companies, has made a strategic investment in The Nest Schools (Nest), an operator of 36 early childhood education centres across Ohio, North Carolina, Texas, Florida and Virginia.  Financial terms of the transaction have not been disclosed.   Gerry Pastor and Jane Porterfield, Nest’s Co-Founders and Co-CEOs, will continue to lead the Company and implement their differentiated operational playbook with the support of Rockbridge. Pastor and Porterfield have decades of education industry experience, having previously led another successful early education business together.

FSN Capital VI is to invest in Bäcker Görtz to create a leading producer and retailer for both at-home and out-of-home food in the EUR15 billion German bakery market. The investment in Bäcker Görtz is in line with FSN Capital’s approach to support founder-led businesses in their next stage of growth. Headquartered in Ludwigshafen, Germany, Bäcker Görtz is a leading bakery chain in the Rhine-Neckar region in South-West Germany with a network of approximately 200 branches and a tailored product offering of baked goods and out-of-home meals. Bäcker Görtz has been founded and owned by the Görtz family since 1963.

Runway Growth Capital (Runway), a provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, global private investment firm Skyview Capital (Skyview), have made a significant growth investment in Fidelis Cybersecurity (Fidelis).  The investment will provide working capital to enable Fidelis’ continued success in developing cyber solutions that help security teams from top commercial, enterprise, and government agencies worldwide find and stop threats faster and more effectively.  Fidelis is a specialist n Active eXtended Detection and Response (XDR) solutions that are trusted by Fortune 100 firms and government organisations worldwide. The company’s proactive

Funds managed by global investment firm Carlyle have acquired ManTech International Corporation (ManTech), a provider of technologies and solutions for national security programmes, in an all-cash transaction representing a total enterprise value of approximately $4.2 billion. Under the terms of the go-private transaction, ManTech stockholders will receive $96.00 per share in cash. With the completion of the transaction, ManTech’s common stock has ceased trading and will no longer be listed on the NASDAQ Global Select Market. ManTech will remain headquartered in Herndon, Virginia and the transition is expected to be seamless for customers and employees across ManTech’s business.

Tridek-One SAS, a biotech start-up specialised in the research and development of CD31 agonists to restore the immune balance, has closed a €16 million ($16.1m) financing round led by the Swiss VC Pureos Bioventures. New investors Bpifrance, through its InnoBio2 fund, and Bioqube Ventures (Belgium), as well as historical investors AdBio partners and Advent Life Sciences also participated in the round.  The funds will primarily be used to identify development candidates against auto-immune diseases, to conduct IND-enabling studies and to further build the organisation. The company previously raised €3 million ($3.02 million) in a first round in 2019 involving AdBio

Latticework Capital Management (LCM), a Dallas-based private equity firm focused exclusively on healthcare control investments in the lower middle market, has formed American Clinical Research Services Holdings (ACRS) following its acquisition of the Catalina Research Institute (CRI). Financial terms of the transaction have not been disclosed. CRI is an independent clinical trials centre focussed on  high complexity trials across non-alcoholic steatohepatitis, non-alcoholic fatty liver disease, diabetes and other metabolic diseases as well as central nervous system. The acquisition of CRI by ACRS is the first of what is expected to be multiple investments in the broader site management organisation (SMO)

INVL-backed PET Baltija, one of the largest PolyEthylene Terephthalate (PET) recyclers in Northern Europe, has completed the acquisition of 100% of TESIL Fibres, a leading Czech fibre producer. The acquisition of the SILON spin-off is set to increase PET Baltija’s annual turnover by more than 50% and ensure the production of higher value-added products by the company. TESIL Fibres is the Czech Republic’s largest producer of PET fibre with 150 employees and an annual capacity of 33,000 tonnes, reaching revenues of €27 million last year. Known for its high production quality standards, the company acts as a primary fibre supplier