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Robert Daniel

H.I.G. Capital, the Miami private-equity firm managing $19 billion of capital, closed H.I.G. Brazil & Latin America Partners at $740 million, 23 percent above its $600 million target. The fund will continue H.I.G.’s “strategy of focusing on private equity, buyout and growth-oriented investments in lower-middle-market companies in Latin America, with a focus on Brazil,” the firm said in a statement. Since 2012, H.I.G. has closed 14 transactions in the region, three of which are in the new fund, Fernando Marques Oliveira, managing director and head of H.I.G. Latin America, said.
Angel Oak Capital Advisors LLC, the Atlanta investment manager focused on fixed income, named Manish Valecha head of institutional alternatives. Valecha, a chartered financial analyst, previously served as head of research at Gapstow Capital Partners, the New York alternative-investment firm, where he was responsible for managing investment strategy, research and due diligence. Valecha’s resume also includes tenures at BlackRock, Barclays Global Investors and other firms.
Bridge Growth Partners LLC, the New York private-equity firm, acquired a majority interest in Solace Systems, the Ottawa provider of infrastructure messaging technology. Terms weren’t disclosed. Tom Manley and Alok Singh, co-founder and managing principal of Bridge Growth Partners, will join Solace Systems’ board.
Churchill Equity, the Minneapolis investment firm, sold a portfolio holding, Cal Quality Electronics, to Parpro of Taiwan. Terms weren’t disclosed. Cal Quality is the Santa Ana, California, provider of electronics-manufacturing services. Parpro, which is traded on the Taiwan Stock Exchange, provides design and manufacturing services. Lincoln International, the Chicago-based mid-market investment bank, provided financial advice to Churchill and Cal Quality.
Jensen Hughes, the Baltimore provider of fire-protection engineering, fire-code-consulting and other services, closed the purchase of Aon Fire Protection Engineering Corp. Terms weren't disclosed. Jensen Hughes is majority-owned by Gryphon Investors, the San Francisco middle-market private equity firm. Gryphon bought Jensen Hughes, formerly Schirmer Engineering, in partnership with management in December 2015. Kirkland & Ellis LLP provided legal advice to Jensen Hughes.
Leeds Equity Partners, the New York private equity firm, agreed to sell Evanta Ventures to CEB for $275 million. Evanta, based in Portland, Oregon, provides events, platforms and information offerings to train IT-security, human-resources and finance staff in collaboration and best practices. CEB, Arlington, Virginia, provides insight and technology for best practices. The deal is subject to closing conditions, including clearance under U.S. antitrust law.
Cortec Group, the New York private equity firm, said that an affiliate invested in Chauvet and Sons LLC, the Sunrise, Florida, developer of entertainment and lighting equipment with applications for clubs and theaters, concerts, corporate events, houses of worship and more. Terms of the investment, made in partnership with Chauvet managers, weren't disclosed. The deal "is the second platform investment in Cortec Fund VI, a $1.1 billion fund that closed in May 2015," the firm said in a statement.
IPS Corp, a Compton, Calif.-based producer of specialty adhesives, solvent cements, and specialized plumbing products, has acquired Integra Adhesives from its founder Doug Turner and other shareholders. No financial terms were released. Based in Abbotsford, British Columbia, Integra is a maker of adhesives for solid surfaces, engineered stone and composites. It is the fifth acquisition made by IPS since it became a portfolio company of U.S. private equity firm Nautic Partners in early 2015. Last November, IPS bought the solvent cement assets of Canada's Schwartz Chemical Corp.
IPS Corp, the Compton, California, producer of specialty adhesives, solvent cements, and specialized plumbing products, acquired Integra Adhesives from its president and other shareholders. Terms weren't disclosed. Integra is the Abbotsford, British Columbia, producer of adhesives used to bind stone and solid-surface building products. IPS is a portfolio company of Nautic Partners VII, L.P. and Nautic Partners VII-A, L.P. Nautic Partners is the Providence, Rhode Island, middle-market private equity firm.
Norwest Equity Partners, the Minneapolis middle-market investment firm, divested a portfolio company, Momentum Group, the Irvine, California, distributor of textiles for office, hospitality, healthcare and university uses. Terms weren't disclosed.

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