Pharos Capital Group (Pharos), a private equity firm based in Dallas and Nashville, has sold its stake in portfolio company TechLab, a developer and manufacturer of rapid, non-invasive diagnostic tests for infectious disease, intestinal inflammation, and parasitology, to SSI Diagnostica, a portfolio company of the private investment firm Adelis Equity (Adelis).  Terms of the transaction have not been disclosed.   SSI Diagnostica is a developer and manufacturer of diagnostics products based in Copenhagen, Denmark. SSI Diagnostica’s global distribution network and production capability will complement TechLab’s US and global operations to grow the scale of the combined company’s diagnostics business. TechLab

Real assets investment specialist PATRIZIA has completed the merger of SAREN Energy with Kvitebjørn Varme AS (KVAS), a district heating operator in Tromsø, northern Norway.  SAREN Energy, which is owned by PATRIZIA investors, including PATRIZIA European Infrastructure Fund II (EIF II), is now one of the largest district heating operators in Norway delivering up to 525 GWh of energy per year.   Following the merger, the combined entity comprises three EfW facilities and a district heating network and will deliver a diverse revenue stream from selling heat, steam and electricity in both southern and northern Norway. The assets are strategically

Thrive Foods (Thrive), a portfolio company of Entrepreneurial Equity Partners (e2p), a Chicago-based private equity firm focused on the food and consumer packaged goods industries, has acquired Freeze-Dry Foods (FDF) from Cumming Capital. Financial terms of the transaction have not been disclosed. Founded in 1968, FDF is a contract manufacturer of freeze-dried products, including pet treats, proteins, and food ingredients.    Thrive Foods is a manufacturer of freeze-dried products including fruits & vegetables, proteins, pet treats, probiotics, enzymes, and prepared meals. Thrive currently has facilities in Modesto, California and American Fork, Utah, and serves as a technical expert and flexible

Tencarva Machinery Company (Tencarva), a value-added distributor of flow control and process equipment solutions and services to the industrial and municipal end-markets, and a portfolio company of Bessemer Investors, has acquired Fischer Process Industries (Fischer Process), a distributor of pumps, valves and process equipment.  Fischer Process’s existing management team, including President Ken Fischer, will remain with the company. Tencarva is a portfolio company of Bessemer Investors LLC (“Bessemer”), a New York-based investment firm. Financial terms of the transaction were not disclosed.   Fischer Process serves customers in Ohio, Indiana, Kentucky, West Virginia and Georgia, and offers full applications engineering capability

Battery Ventures, a global, technology-focused investment firm, has reinvested in Forterro, a European provider of enterprise-resource planning (ERP) software for the industrial mid-market.  With the investment, Battery now holds a significant minority share of Forterro, a company the firm previously built into a multi-national, European software provider and subsequently sold to Partners Group, a leading private markets firm (acting on behalf of its clients), for €1 billion earlier this year. Battery will continue to be actively involved in helping to scale Forterro as the company pursues its vision for growth under Partners Group’s ownership. As part of the deal, Tabors

Prescott’s a provider of refurbishment, maintenance, repair and service work for surgical microscopes utilised in hospital operating rooms and ambulatory surgery centres, and a portfolio company of Atlantic Street Capital (ASC), has expanded into the anaesthesia specialty service and support sector with the acquisition of Heartland Medical Sales & Service (Heartland). Founded in 1998 by Bradly Rumph, Heartland focuses on delivering reliable service, repair, refurbishment and sales of anaesthesia machines and related equipment. As Heartland has grown, its equipment capabilities have expanded as well to include single replacement devices to the complete outfitting of surgery centres and other medical facilities

Blue Ridge ESOP Associates (Blue Ridge), a portfolio company of Levine Leichtman Capital Partners (LLCP), has acquired substantially all of the tax benefits plan services (BPS) business of Crowe LLP.  The addition of the BPS business strengthens Blue Ridge’s position as an independent ESOP and 401(k) third party administration and recordkeeping firm. The BPS business has built a track record of strong performance in employee stock ownership plan (ESOP) services and retirement plan services. Its nearly 30 employees currently serve over 400 clients and more than 500 plans that are expected to transition to Blue Ridge. The combination of the