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Equistone Partners Europe has acquired a majority stake in RENA from Capvis AG. No financial terms were disclosed. Based in Germany, RENA is a maker of machinery for wet-chemical surface treatments.
Blue Sage Capital has made an investment in Des Moines, Iowa-based All-State Industries, a manufacturer of non-metallic components for OEMs. No financial terms were disclosed.
Kordsa has agreed to acquire Santa Ana, California-based Axiom Materials Inc, a maker of progressive composite materials. No financial terms were disclosed. Axiom is backed by Sorenson Capital.
API Technologies Corp, a portfolio company of J.F. Lehman & Company, has sold Windber, Pennsylvania-based API Defense USA Inc, its electronics manufacturing services business, to Kitron. No financial terms were disclosed. Canaccord Genuity served as financial adviser to API on the deal while Jones Day and Miller & Chevalier provided legal counsel.
Industrial Flow Solutions, a portfolio company of May River Capital, has acquired Monroe, Connecticut-based Stancor LP, a provider of solutions based on integrated pump and control systems and Old Saybrook, Connecticut-based BJM Pumps, a maker of pumps used in industrial and municipal dewatering and wastewater applications. The sellers include Longview Asset Management and Knox Capital. No financial terms were disclosed.
OpenGate has agreed to acquire SMAC, a French manufacturer of waterproofing and building envelope solutions, from Colas Group. No financial terms were disclosed.
Mason Wells has sold Roselle, Illinois-based Aquion Inc, a maker of water treatment equipment and water quality solutions, to Pentair plc. The value of the deal was $160 million. Robert W. Baird advised Aquion while Quarles & Brady provided legal counsel.
CenterGate Capital has made an investment in Lakeland, Florida-based Mid-State Industrial Maintenance, a provider of on-site and off-site industrial maintenance and service solutions. No financial terms were disclosed.
Smart Care Equipment Solutions, a portfolio company of Audax Private Equity, has acquired Mid-South, a Goodlettsville, Tennessee based company offering commercial equipment maintenance and installation services, according to a company announcement. No financial terms were disclosed.
H.I.G. Capital has sold Caraustar Industries Inc to Greif Inc for $1.8 billion. Based in Austell, Georgia, Caraustar is a maker of recycled materials and paper products.

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