PE Weekly: Aerospace and Defense Take-Privates Tick Up

Bain Private Equity Invests in FDH Aero. FDH Aero, a global provider of supply chain solutions for the aerospace and defense sector, announced a majority investment from Bain Capital Private Equity. FDH’s existing majority shareholder, Audax Private Equity, will retain a minority stake in the business.

Godspeed Backs JP Donovan. Godspeed Capital Management, a lower middle-market private equity firm focused on the defense and government services and technology space, has established a new space infrastructure platform through its investment in JP Donovan. The company provides space infrastructure, fabrication, precision machining, and mission-critical support solutions for government and commercial space customers.

Arcline Takes Continental Private for $535 Million. Private equity firm Arcline Investment Management announced its acquisition of Continental Aerospace Technologies this week. The transaction takes the piston aircraft engine manufacturer private from its previous owner, subsidiaries of Aviation Industry Corporation of China.

Thoma Bravo Takes Kneat Private for $466 Million. Thoma Bravo, a software-focused investment firm, has acquired Kneat, also known as kneat.com, inc. The transaction takes the Canadian business, a process automation solution provider, private in a transaction valued at about $466 million.

Zemi Capital Acquires Punchwallet. Zemi Capital Partners, an investment firm with strategies across venture capital and lower middle-market private equity, has acquired Punchwallet. The FinTech company offers digital loyalty and customer engagement solutions for consumer-facing businesses.

Clearlake Acquires Pathway Capital. Clearlake Capital Group, an investment firm with private equity and private credit strategies, has completed its strategic acquisition of Pathway Capital Management. Pathway provides private market solutions for institutional and wealth markets, notes a press release.

Heartwood Partners Exits Super-Sod to Kainos. Kainos Capital announced this week that it has acquired Patten Seed Holdings, also known as Super-Sod, a provider of sod, seed, soil, and other landscaping solutions. Kainos acquired the company from its previous sponsor, Heartwood Partners.

SK Capital Exits Isolatek to Catchment Capital. SK Capital Partners, an investment firm focused on the material sciences, specialty ingredients, and life sciences sectors, has completed its sale of Isolatek International. The company manufactures fireproofing technologies. Private equity firm Catchment Capital acquired the business.

Kirkland & Ellis, Palantir Partner for AI PE Fundraising. Kirkland & Ellis, a global law firm specializing in private equity and M&A, has partnered with Palantir Technologies to launch an AI-powered fund enterprise platform. The initiative aims to leverage Palantir’s AI Platform to transform private equity fundraising and the data management that comes with it, a press release said.