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Hello {{first_name|friends}}, Monday brought a solid lineup of platform M&A and growth capital across the board.
The standout: Nettwerk Music's $300M management buyout backed by Create Music Group, marking a clean exit for Vistara Growth after multiple rounds since 2021.
One Equity Partners moved on Italian specialty chemicals maker Bozzetto Group. Arbor Investments added another bakery platform with Furlani Foods—the firm's 19th baking investment and sixth consecutive fund with a baking play. Haveli Investments picked up children's mobile gaming developer Budge Studios from General Atlantic.
Platform add-ons stayed busy as MKB Company and ZCG-backed Unimed expanded through tuck-ins. Cross-border activity spanned Canada, Italy, the Netherlands, and the UK.
Let's break it down.
Create Music Group
Nettwerk Music Group
Nettwerk Music Group landed a $300M+ investment from Create Music Group to fund a management buyout. Co-founder and CEO Terry McBride and his team are increasing ownership while keeping the 40-year-old company independent. The Vancouver-based music company works with acts including Paris Paloma, Passenger, and SYML.
Vistara Growth exits substantially all of its investment following initial backing in 2021 and a $75M follow-on in 2023. McBride's early career included managing Coldplay and Avril Lavigne before building Nettwerk into a data-driven music IP platform.
One Equity Partners
Bozzetto Group
One Equity Partners agreed to acquire Bozzetto Group, a Bergamo, Italy-based specialty chemicals provider. The company offers over 1,500 sustainability-certified formulations to roughly 1,500 customers across 90+ countries through seven manufacturing sites and eight sales offices.
Bozzetto serves textile, agricultural, plasterboard, personal care, and water treatment markets. OEP sees the platform as highly scalable within a fragmented landscape, with plans to accelerate expansion through strategic M&A in agriculture and personal care. CEO Roberto Curreri stays on. Freshfields advised OEP; Jefferies and White & Case advised Bozzetto.
Groupe Bruxelles Lambert (GBL)
Rayner
Groupe Bruxelles Lambert (GBL) will invest €500M ($593M) to acquire a 45% co-controlling stake in UK-based Rayner alongside incumbent shareholder CVC Capital Partners. The deal marks the Belgium-listed investment holding company's third healthcare investment following Affidea and Sanoptis.
Rayner pioneered the world's first intraocular lens in 1949 and now serves 80+ countries, improving eyesight for more than three million patients annually. CEO Tim Clover noted the company recently invested significantly in R&D, new products, multiple FDA approvals, and manufacturing. CVC originally backed the business in 2021.
Monogram Capital Partners, Halmos Capital Partners
The Vasco Group
Monogram Capital Partners and Halmos Capital Partners completed a majority investment in The Vasco Group (operating as Nidy Sports Construction in Florida). The full-service sports surfacing provider has market-leading positions in Ohio and Florida. Co-owners Matt Savage (President & CEO) and Glen Maurer (COO) will retain significant minority stakes and continue leading operations. Founded in 1967 as a commercial paving company, Vasco pivoted to sports surfaces in the mid-2000s under Savage's leadership.
The company serves K-12, municipalities, universities, professional athletic organizations, and multifamily residential customers. Deerpath Capital provided debt financing. This marks Monogram's second consumer services platform within Fund III.
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Arbor Investments - Arbor Investments acquired Furlani Foods, one of North America's largest manufacturers of frozen and ambient garlic bread products. The company operates facilities in Oak Creek, Wisconsin; North Liberty, Iowa; and Mississauga, Ontario. Products are sold under the Furlani® and Cole's® brands plus private-label programs for leading grocery retailers. CEO Jonathan Kawaja and the senior leadership team continue in their roles. This marks the third platform investment for Arbor Investments VI. Co-founder and CEO Greg Purcell noted the firm has now invested in 19 baking businesses—maintaining a baking platform in each of its six funds.
Haveli Investments - Haveli Investments entered into an agreement to acquire Budge Studios from General Atlantic. The Montreal-based company is a leader in digital interactive entertainment for children with over 2 billion downloads across 200+ countries. Founded in 2010, Budge Studios was among the first to bring recognized children's brands to mobile platforms. The company collaborates with major entertainment brands including Bluey, PAW Patrol, Barbie, Disney's Frozen, Hot Wheels, and Hello Kitty. Co-founders and co-CEOs Michael Elman and David Lipes will continue leading the business.
Align Capital Partners - Align Capital Partners' environmental control platform MKB Company acquired US Silt & Site Supply, a Bow, New Hampshire-based manufacturer and distributor of erosion and sediment control products. The deal expands MKB's geographic footprint in the Northeast. Chad Demetry, President of US Silt, continues with the business. This marks the fourth acquisition since MKB partnered with ACP in November 2024.
ZCG - ZCG-backed Universal Maritime Solutions (Unimed) acquired Regenboog Shipping Pharmacy, a Rotterdam-based distributor of pharmaceutical products and medical devices serving the maritime sector since 1989. The business serves 300+ customers including ship managers, ship chandlers, and individual vessels globally. The transaction builds on Unimed's recent acquisition of Lagaay Medical Group, further expanding scale and capabilities in the Netherlands.
Permira, Warburg Pincus - NatWest Group agreed to buy UK wealth manager Evelyn Partners for £2.7 billion ($3.7 billion), including debt. The deal represents the largest private equity-backed wealth management exit in UK history. Edinburgh-based NatWest is acquiring Evelyn to increase access to affluent clients in its home market. Evelyn has been owned by buyout firm Permira for over a decade, with Warburg Pincus becoming a minority investor in 2020.
No major regulatory or industry developments tracked today.
Gemspring Capital - Gemspring Capital appointed Aron Grossman and Zubin Malkani as Co-Heads of Investments. They'll continue sourcing, executing, and overseeing investments while assuming broader leadership responsibilities across the Westport, Connecticut-based firm's investing platform. Grossman joined Gemspring in 2017 and brings 18 years of experience across private equity and operating roles. Malkani joined in 2022 with 16 years of private equity experience.
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That's the wrap. More deals coming your way tomorrow.
- Private Markets Minute Team