Fundraising

NovaQuest Capital Management LLC said Nov. 20 that its first dedicated private equity fund has closed on its $275 million hard cap. NovaQuest Private Equity invests in opportunities that aim to reduce the total cost of care, meet unmet medical needs, reduce unnecessary procedures, improve efficacy (therapeutics or prevention) and / or improve the quality of life. Eaton Partners was placement agent.

Calero Software, which is backed by Riverside Partners, and MDSL, which is backed by Sumeru Equity Partners, are planning to merge. No financial terms were disclosed. Oak Hill Capital and Riverside will be the lead investors in the transaction. SEP will continue as a "significant" investor in the combined business. Calero and MDSL are software providers in the recurring technology expense management space. The deal is expected to close in either the late fourth quarter of this year or in the early quarter of 2020.

Intrepid Solutions and Services Inc, a portfolio company of Bluestone Investment Partners LLC, has acquired BWM Outcomes, a provider of cybersecurity and intelligence analysis services. No financial terms were disclosed. Holland and Knight provided legal advice to Intrepid while PilleroMazza PLLC did likewise to BWM.

Antares has provided a senior secured credit facility to back Canadian private equity firm's ONCAP's acquisition of Texas-based Enertech, a provider of wireless infrastructure services to telecommunications carriers and tower owners throughout the Southern, Central and Pacific Northwest regions of the U.S. No financial terms were disclosed. Antares was the lead arranger and administrative agent on the financing.

MODE Transportation, a portfolio company of York Capital Management, has agreed to acquire Jacksonville, Florida-based SunteckTTS, a provider of third-party transportation and logistics. No financial terms were disclosed. Both businesses will operate under the MODE brand name. Piper Jaffray and McDermott Will & Emery advised SunteckTTS on the deal while Kirkland & Ellis provided legal advice to MODE. MODE is a portfolio company of York Capital Management. And, SunteckTTS is backed by Comvest Partners.

Driven Brands, which is backed by Roark Capital, has acquired Quebec-based Clairus Group, a provider of automotive glass distribution, replacement, and claims management solutions. No financial terms were disclosed. Jefferies was sole financial adviser to Clairus on the transaction. Headquartered in Charlotte, North Carolina, Driven Brands is the parent company of various automotive aftermarket brands.

Episerver, which is backed by Insight Partners, has agreed to acquire Idio, a content personalization and analytics platform. No financial terms were disclosed.

Arlington Capital Partners has agreed to sell Quantum Spatial to NV5. The purchase price is $303 million. Quantum Spatial is a geospatial data firm.

Serenova, which is backed by Marlin Equity, has acquired the team and technology behind the ProScheduler platform from Loxysoft. No financial terms were disclosed.