]init[ AG Acquires Ironforge Consulting AG

]init[ AG Acquires HBSN Group

February 4, 2025

Healthcare Services

]init[ AG, a portfolio company backed by Rivean Capital and EMERAM, has acquired HBSN Group, a German healthcare-focused digital transformation and IT services provider. The add-on expands ]init['s capabilities and client base in the healthcare and regulated markets — combining roughly 1,500 employees across both groups and adding ~380 new healthcare institutions to ]init['s customer base.

Gilde Buy Out Partners Acquires Minority Stake in ]init[ AG für digitale Kommunikation

January 12, 2021

IT Services

Funds advised by Gilde Buy Out Partners have agreed to acquire a minority stake in Berlin-based digital transformation firm ]init[ AG für digitale Kommunikation. EMERAM Capital Partners will remain a shareholder at the same level, and the new shareholder group intends to accelerate ]init['s organic and inorganic growth, expand its international focus, and pursue acquisitions.

Innova Capital Acquires Minority Stake in CloudFerro

February 18, 2024

Cloud & SaaS

Innova Capital acquired a significant minority stake in CloudFerro, a Warsaw-based provider of cloud services focused on the European space sector. The investment (from Innova’s seventh fund) will support CloudFerro’s organizational strengthening, international expansion, product and service growth, and development of AI capabilities.

North American Construction Group (NACG) to Acquire Iron Mine Contracting (IMC)

December 18, 2025

Industrial Services

North American Construction Group Ltd. entered into a definitive share purchase agreement to acquire Iron Mine Contracting (IMC), a Western Australian diversified mining services contractor, for approximately CAD 115 million. The transaction is expected to close in the first quarter of 2026 and will be funded through senior-secured bank financing, vendor debt financing, and a portion of NACG’s revolving credit facility.

Intelligent Technical Solutions Acquires Afineol IT Consulting

November 5, 2024

IT Services

Intelligent Technical Solutions (ITS), a portfolio company of Tower Arch Capital, acquired Sacramento-based managed service provider Afineol IT Consulting from owners Michael and Margaret Strong. The add-on strengthens ITS’s Sacramento footprint and expands its managed IT and cybersecurity offerings; financing was provided by Deerpath Capital and terms were not disclosed.

Forged Solutions Group Acquires Steel Industries

November 17, 2022

Manufacturing

Forged Solutions Group (a portfolio company of Arlington Capital Partners) has acquired Steel Industries, Inc., a Redford, Michigan-based manufacturer of open die forgings and seamless rolled rings. The acquisition expands FSG's forging capabilities, metals expertise and customer relationships across aerospace, defense, space and industrial end markets and will keep Steel Industries' existing management team in place.