Atlas Holdings, a US-based private equity firm, which oversees more than $16bn in assets, has agreed to sell a minority stake in the business to Blackstone and Blue Owl Capital, according to a report by Bloomberg.

Monomoy Capital Partners, a private investment firm focused on private equity and credit investing in the mid-market, has entered into a definitive agreement to acquire oil change business Jiffy Lube from Pennzoil Quaker State Company DBA SOPUS Products, a wholly owned subsidiary of Shell. An affiliate of Monomoy will acquire Jiffy Lube through its Fund V for approximately $1.3bn.

EQT has agreed to acquire a 42% stake in Kelda Holdings, the parent company of Yorkshire Water, marking one of the largest recent investments in the UK water sector as the industry faces mounting regulatory and financial scrutiny, according to a report by Reuters.

Advent International is reportedly considering the sale of its naval defence business, Ultra Maritime, in a deal that could value the unit at around $4bn, according to a report by Bloomberg citing unnamed sources familiar with the matter.

Oak Hill Capital has agreed to acquire garage door repair and replacement business Guild Garage Group, in a deal valued at more than $800m, according to a report by Reuters citing people familiar with the matter.

New Mountain Capital has ended discussions over a proposed transaction led by former executive Matt Holt to acquire five of the firm’s portfolio companies, scrapping what would have been a deal valued at about $32bn, according to a report by Bloomberg.