PE Tech Report

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Global sustainable real assets investor Vision Ridge Partners has appointed Ramzi Moubarak, a former Managing Director on Macquarie Capital’s infrastructure and energy capital team in Europe, as a Managing Director and Head of Europe, effective immediately.
Ironbridge Equity Partners has sold Advance Engineered Products, a manufacturer of tank trucks, trailers and vacuum truck equipment, to an entity controlled by TerraVest Industries.
Connecticut-based private equity firm Littlejohn & Co will sell IT staffing and recruitment agency Motion Recruitment Partners to global specialty talent solutions provider Kelly for $425m in cash, in a transaction that is expected to close in Q2 2024. 
North Carolina-based private equity firm Kian Capital Partners has sold its stake in The Purple Guys, a managed IT services provider to small- and mid-sized businesses, to Ntiva, a portfolio company of asset manager PSP Capital.  
Specialist energy private equity firm Bluewater has sold its stake in ROVOP, a remotely operated vehicle services provider for the energy sector, to US-based marine transportation solutions provider Edison Chouest Offshore. 
TOP STORY: Brookfield Asset Management, a global alternative asset manager with over $900bn of assets under management, has agreed to invest $1.5bn to acquire a 51% stake in asset-based private credit specialist Castlelake’s fee-related earnings.
Milan-based private equity firm Alto Partners and Italian fund management company Arca Fondi have agreed to the buyout of Eurosirel, a manufacturer and distributor of medical devices and cosmetics. The transaction is expected to close by June. 
Connecticut-based private equity firm Atlas Holdings has sold NPX One, a US manufacturer and supplier of polystyrene trays for fresh protein, to Dallas-based private equity firm Breck Partners. Terms of the transaction have not been disclosed.
With inflation remaining stubbornly high and the Federal Reserve seemingly set to keep interest rates higher for longer, private credit fundraising has fallen to the lowest level seen since 2020, according to a report by Bloomberg.
DecisionPoint Systems, a retail in-store solutions and services provider focused on point-of-sale systems, will merge with an affiliate of Barcoding Holdings, a portfolio company of Pennsylvania-based private equity firm Graham Partners, in a $78.5m all-cash transaction.

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