Business services

PE-backed Shermco buys NextGen

Shermo Industries Inc, which is backed by Gryphon Investors, has acquired North Vancouver, British Columbia-based NextGen Technologies Ltd, an electrical testing services provider. No financial terms were disclosed. The NextGen management team will remain with the company.

PE-backed PAG acquires Momentum Services Corporation

Precision Aviation Group Inc, which is backed by GenNx360 Capital Partners, has acquired Momentum Services Corporation, a provider of repair services for LCD flat panel displays. No financial terms were disclosed.

VC-backed Shopify to acquire 6 River Systems

Ottawa-based Shopify, a multi-channel commerce platform, has agreed to acquire Waltham, Massachusetts-based 6 River Systems Inc, a provider of collaborative warehouse fulfillment solutions. The deal is valued at about US$450 million. Orrick advised Shopify on the transaction. The acquisition is expected to close in the fourth quarter of 2019. Shopify's backers include OMERS Ventures, Bessemer Venture Partners, FirstMark, Felicis Ventures, Insight Partners and Georgian Partners.

PE-backed Opus Agency acquires Tencue

Opus Agency, a portfolio company of Growth Catalyst Partners, has acquired Berkeley, California-based Tencue Productions Inc, a creative and communications agency. No financial terms were disclosed.

GED Capital exits Nekicesa

GED Capital has sold its shares in Nekicesa, a converter of folding cartons supplying the pharmaceutical end-market in Spain. The buyer was Essentra. No financial terms were disclosed.

CPPIB invests in Delhivery

Canada Pension Plan Investment Board has invested US$115 million in India-based Delhivery, a third-party logistics provider. The investment was made through CPPIB’s fundamental equities Asia Group. As a result of the investment, CPPIB will have one seat on Delhivery’s board.

PE-backed ILG buys Mike's Flooring

Interior Logic Group Inc, which is backed by Littlejohn & Co., LLC and Platinum Equity, has acquired Chantilly, Virginia-based Mike's Flooring Companies, a provider of flooring solutions for multifamily, commercial and residential properties. No financial terms were disclosed.

CPPIB invests $115 mln in Delhivery

Canada Pension Plan Investment Board has invested $115 million in Delhivery Pvt Ltd. Financial terms weren’t announced. Delhivery, of India, is a third-party logistics provider.

Fortress to buy Vannin

Fortress Investment Group is buying 100 percent of Vannin. Sellers include Bramden Investments, the PE fund from DLA Group. Vannin is a litigation funder that had sought to go public in 2018, the Financial Times said.

Private equity interested in KKR's LGC Group: Bloomberg

KKR’s potential sale of LGC Group has attracted several PE firms as well as Thermo Fisher Scientific Inc and Danaher Corp, Bloomberg reported. Firms including Blackstone Group Inc, Carlyle Group LP, CVC Capital Partners and EQT Partners are weighing offers for LGC which could fetch more than $2 billion including debt in a sale, the story said.