Acquisitions in Scotland, United Kingdom

Ryan, a global tax services and software provider, acquired Edinburgh-based Williams Young McKaig Ltd and its specialist rating division, WYM Rating. The deal expands Ryan’s UK Property Tax practice by establishing a property tax and business rates presence in Scotland and strengthening its ability to support clients with complex commercial property portfolios across the United Kingdom.

kdc/one (Knowlton Development Corporation) acquired all of the assets and certain liabilities of the business of Barony Universal, the United Kingdom’s largest independent filler of personal care and household aerosol products. The acquisition expands kdc/one’s European manufacturing footprint and U.K. presence while strengthening capabilities in fast-growing aerosol categories. Financial terms were not disclosed.

Precision Aviation Group (PAG), a portfolio company of GenNx360 Capital Partners, acquired Turner Aviation, an aviation maintenance, repair, and overhaul (MRO) services provider. Headquartered in Glasgow, Scotland, Turner Aviation brings UKCAA/EASA Part 145-approved repair capabilities and supports PAG’s expansion into the EMEA region as PAG’s tenth add-on acquisition under GenNx360’s ownership.

Banyan Software, Inc. acquired Berkeley Myles Solutions Ltd., a provider of material requirements planning (MRP) software. Headquartered in Glasgow, Scotland, Berkeley Myles’ flagship product ProgressPlus serves SME manufacturing businesses across the UK, and the deal expands Banyan’s UK software portfolio and marks its first investment in Scotland.

AECOM acquired Scotland-based Allen Gordon LLP, a technical design and advisory services provider focused on the U.K. & Ireland water and energy sectors. The acquisition is intended to strengthen AECOM’s UK&I Water and Energy capabilities and positioning ahead of anticipated infrastructure investment of more than £250 billion over the next decade in the region. Financial terms were not disclosed.

Kube Networks (KubeNet), a Glasgow-based managed IT and infrastructure services provider backed by Maven Capital Partners, has acquired Aberdeen-based ISN Solutions Group. The deal is KubeNet’s first acquisition since Maven’s March 2025 investment and is intended to expand KubeNet’s UK footprint and strengthen sector expertise in energy and professional services. ISN will operate under its current name during an initial transition period before being integrated and rebranded as KubeNet.

Dale Power Solutions acquired its long-term business partner Calibre Power Electronics, a provider of UPS replacement and maintenance services for the oil and gas industry. The deal supports Dale’s expansion in the critical power sector and deepens its offshore oil and gas expertise in the Scottish market. Dale is backed by NVM Private Equity, and Calibre will remain a key brand with its team staying on post-acquisition.

Maven completed a £2.25 million investment in Glasgow-based Kube Networks (KubeNet), a managed IT and infrastructure services provider offering cloud, connectivity, voice, and cybersecurity solutions. The funding, provided through Maven Investor Partners, will support KubeNet’s growth plans, including organic expansion and a buy-and-build strategy with a first bolt-on acquisition expected in the coming weeks.

Dains Group, backed by IK Partners, has acquired Consilium Chartered Accountants, a Glasgow-based accountancy and advisory firm. The deal strengthens Dains’ Scotland presence and expands capabilities in corporate tax, audit, and corporate finance as it builds its SME advisory platform across the UK and Ireland.

Scotmas Group, a Kelso-based water treatment and disinfection specialist, secured £2.2 million in funding led by IFS Maven Equity Finance and supported by Scottish Enterprise. The investment will be used to drive international expansion, increase manufacturing capacity, and fund continued product development and team growth.

Drilling Tools International Corp. (DTI) completed its acquisition of Titan Tools Services Ltd., a UK-based downhole tool rental company, on January 2, 2025. The deal expands DTI’s international footprint—particularly in the UK North Sea, Europe and Africa—and enhances its technological capabilities and service offerings across the drilling well life cycle.

D2Zero acquired Kelton Engineering, a flow measurement consultancy serving the energy industry. Kelton’s precision measurement technology, proprietary software, and real-time monitoring/data gathering capabilities will enhance D2Zero’s digital capabilities and support its decarbonization and energy transition strategy. Kelton is headquartered in Aberdeen, United Kingdom, and will join D2Zero’s group of energy infrastructure services businesses.

Offshore wind services provider Venterra Group has acquired the Oceanscan Holdings group of companies. Oceanscan provides subsea and non-destructive test equipment, geotechnical services, and specialist personnel to the offshore energy sector, with headquarters in Aberdeen and subsidiaries in Houston and Singapore.

IFS Maven Equity Finance invested £750,000 in Glasgow-based Corporate Modelling Services (CMS) to further develop and expand its OPX workforce optimisation platform globally. The equity funding, delivered via the Investment Fund for Scotland and managed by Maven, will support product enhancements including additional AI functionality and expansion of CMS’s sales and partnership efforts, including opportunities in the United States.

The Access Group acquired Edinburgh-based QikServe, enabling Maven to complete a profitable exit from its investment via the sale. QikServe provides a SaaS digital commerce and order-and-pay platform for hospitality customers across mobile, web, and kiosk channels.

Firstsource Solutions Limited, an RP-Sanjiv Goenka Group company, has acquired Ascensos, a UK-headquartered customer experience (CX) outsourcing partner focused on retail and eCommerce brands. Ascensos will operate as a separate business unit within Firstsource, retaining its brand and Scottish headquarters, with CEO John Devlin continuing to lead the business. The deal strengthens Firstsource’s expansion into the retail vertical and enhances nearshore and multi-lingual delivery capabilities alongside Firstsource’s technology strengths in AI, analytics, and automation.

Elite Electronic Systems, an electronics contract manufacturer based in Northern Ireland, has acquired CB Technology (CBT), a specialist electronics contract manufacturer headquartered in Livingston, Scotland. Maven has fully exited its investment in CBT through the sale, delivering a 2.85x return to Maven’s investors and creating a combined group with over £50 million in turnover.

Praveen Kumar, a Perth-headquartered producer of premium Indian ready meals, secured a £400,000 equity investment from the Investment Fund for Scotland (IFS), managed by Maven and delivered by the British Business Bank. The funding will be used to grow the company’s online Kumar’s Curry Club subscription offering and expand retail partnerships across the United Kingdom.

Aliter-backed Athera Healthcare acquired Newgate Technology, a healthcare software provider focused on patient management and inventory traceability in clinical environments. Newgate, headquartered near Edinburgh and serving hospitals across the United Kingdom and Ireland, will continue to be led by managing director Adam Watson and his team. The deal represents Aliter’s third investment within the Athera Healthcare group as it builds a UK-based healthcare software and data analytics business.

Helmerich & Payne, Inc. (H&P) entered into a definitive agreement to acquire KCA Deutag International Limited for $1.9725 billion in cash. The deal is intended to expand H&P’s international footprint—particularly in the Middle East—while adding KCA Deutag’s land drilling, asset-light offshore management contract operations, and manufacturing/engineering businesses. The transaction is expected to close prior to the end of calendar year 2024, subject to customary closing conditions and regulatory approvals.

Sword Group is making strategic acquisitions of two Aberdeen, Scotland-based companies: IACS, a cybersecurity specialist focused on securing industrial process control networks, and AAA, a recruitment and staffing company that has restructured its offering around artificial intelligence using Sword-developed tools. IACS will be consolidated into Sword’s accounts effective 1 July 2024, and Sword decided to acquire AAA on 2 April 2024 to support expansion in AI and cybersecurity.

Dains Group has acquired Condies Chartered Accountants, expanding its presence and capabilities in the Scottish accountancy market. Condies will be integrated into Dains Group alongside Dains Scotland (formerly William Duncan + Co), strengthening the group’s compliance and advisory offering across Scotland and the wider UK.

Triton V portfolio company OCU Group Limited completed the acquisition of RJ McLeod (Contractors) Limited, a Scotland-based energy transition contractor. The deal expands OCU’s renewable energy and utilities infrastructure capabilities (including grid and substation construction) and increases OCU’s pro forma revenues to over £800 million.

Charlesbank Capital Partners has made a strategic growth investment in Quorum Cyber, becoming the new lead investor as Livingbridge partially realizes its position from its Enterprise 3 fund. Livingbridge is reinvesting alongside existing investor Golding Capital Partners to support Quorum Cyber’s expansion, particularly in the United States.

Bluewater has completed the sale of ROVOP, an Aberdeen-headquartered provider of ROV services for the energy sector, to US marine solutions company Edison Chouest Offshore. The transaction follows Bluewater’s ownership and growth initiatives since its initial investment in 2017; financial terms were not disclosed.

Limerston Capital Partners II, L.P.-backed Largo Leisure Holidays has acquired holiday park Campsie Glen as a bolt-on investment to support Largo’s buy-and-build growth strategy in Scotland. Campsie Glen, located in Stirlingshire near Loch Lomond and the Trossachs, will be integrated into Largo’s portfolio to realize operational synergies across its holiday parks.

ChampionX Corporation acquired Artificial Lift Performance Limited (ALP), an Edinburgh-based provider of advanced analytics and artificial lift optimization software for oil and gas production. The deal expands ChampionX’s digital solutions portfolio by combining ALP’s Pump Checker software with ChampionX’s XSPOC production optimization software to deliver broader advanced analytics across artificial lift types and related applications.

Expro entered into a definitive agreement to acquire Coretrax, an Aberdeen, Scotland-based provider of performance drilling tools and wellbore cleanup, well integrity, and production optimization solutions. The deal values Coretrax at approximately $210 million in total consideration, to be paid in cash and newly issued Expro common shares, and is expected to close in the second quarter of 2024. Coretrax is being acquired from an investment group led by Buckthorn Partners.

Independent Governance Group (IGG), a UK provider of professional pensions trusteeship and governance services, has acquired IC Select. The deal expands IGG’s offering to include the selection and oversight of investment consultants and fiduciary management providers, while retaining the IC Select brand and leadership team.

LDC, the private equity investor within Lloyds Banking Group, made a significant investment in Kick ICT to support the Scotland-based IT managed service provider’s expansion across the United Kingdom. The transaction provides an exit for growth capital investor BGF, which has backed Kick ICT since 2021, and positions Kick ICT to pursue further acquisitions in Scotland and the North of England.

LDC-backed Aspire Technology Solutions has acquired Glasgow-based managed service provider Cloud Cover IT to expand its footprint in Scotland and other UK regions. Following the acquisition, Cloud Cover IT will join the Aspire group, and its software development and business applications division will be rebranded as “Flyte” to support ongoing investment and growth in business application offerings.

NorthEdge completed a multi-million-pound investment into Antibody Analytics, a Scotland-headquartered contract research organisation providing pre-clinical immunology research services. The funding will support Antibody Analytics’ growth plan, including facility expansion, additional capacity, and job creation to enhance its research capabilities for biopharmaceutical clients globally.

Maven Investor Partners, together with Panoramic Growth Equity and Emerald Capital Management, backed the management buyout of Glasgow-based distribution and logistics specialist Bullet Express. The investment will support Bullet Express’s continued organic growth and enable a buy-and-build strategy in the fragmented UK logistics market.

Private equity firm Endless LLP acquired ASCO on 11 August 2023. ASCO, headquartered in Aberdeen, Scotland, provides integrated supply base and offshore logistics services to the energy industry across a global, multi-site footprint. Endless expects the acquisition to support ASCO’s growth in renewables and new energy markets amid the energy transition.

Foresight Group invested £2 million into RFB Containers Limited to support RFB’s acquisition of Forth Containers Limited. The transaction also includes Forth Containers’ subsidiary, Container World, and is intended to expand RFB’s presence across Scotland in container hire, sales, and self-storage.

Elysian Capital I LP sold Axis Well Technology Group Limited (Axis) to RSK Group, a privately held UK-based environmental, engineering, and technical services group. Aberdeen-based Axis is the UK’s largest independent well and reservoir consultancy, providing integrated well operations, well and reservoir studies, and low-carbon expertise (including CCS and hydrogen) to the global energy industry. Financial terms were not disclosed and Axis’ founder/CEO Jim Anderson will continue to lead the business within RSK.

Kin + Carta has acquired Forecast Data Services, an Edinburgh-based data services provider, to strengthen its global enterprise data transformation and AI capabilities. The deal doubles Kin + Carta’s European data practice to more than 100 specialists and integrates Forecast’s team and brand into Kin + Carta’s European operations, expanding client relationships and technology partnerships across Europe and America.

Foresight Group announced a £4 million equity investment in Firefish Software Limited, a provider of CRM and marketing software for the recruitment sector. The investment, made via Foresight VCT, Foresight Enterprise VCT and the Foresight Scottish Growth Fund, will support Firefish’s continued growth including product development and commercial expansion.

Interlink Electronics, Inc. acquired all of the stock of Calman Technology Limited for approximately $5.0 million. Calman, based outside Glasgow, Scotland, designs and manufactures membrane keypads, graphic overlays, and printed electronics, expanding Interlink’s sensor and printed electronics capabilities and strengthening its presence in Scotland and Europe.

Blend360, a global provider of data, analytics and talent solutions, announced the acquisition of UK-based data consultancy Forth Point. The deal expands Blend360’s footprint in Europe/EMEA and strengthens its capabilities in data engineering, AI/ML, and business intelligence.

SCF Partners announced an investment in Global E&C (GEC), a digitally enabled engineering, maintenance, modification, and commissioning services provider focused on the offshore energy sector. The investment is intended to support GEC’s growth and expand its digital and decarbonization offerings. Global Energy Group, GEC’s previous parent, will continue to partner with GEC via a long-term strategic alliance, and chair Roy MacGregor will join GEC’s board during the transition.

Expro (NYSE: XPRO) announced the acquisition of well construction cementing specialist DeltaTek Global. The deal expands Expro’s well construction cementing capabilities and technology portfolio while supporting DeltaTek’s international deployment through Expro’s global footprint.

Calibre Scientific acquired TechniVal Group Limited, a Scotland-based provider of laboratory equipment services and distributor serving life science, R&D, pharmaceutical, and biotechnology customers across the United Kingdom. The deal expands Calibre Scientific’s UK/Ireland presence by adding a dedicated laboratory equipment services capability (installation, calibration, validation, maintenance, and repair) alongside its existing manufacturing and distribution businesses in the British Isles.

Vespa Capital has invested in Eserv, an Aberdeen-based provider of digital twin SaaS for complex industrial assets via its AS-TEG 3D digital twin software platform. The investment partners Vespa Capital with Eserv’s incumbent management team led by founder and CEO Dan Millard, and is intended to strengthen the balance sheet and support international growth and product expansion. The transaction closed on 23 December 2022.

Saria agreed to acquire Devro, a Scotland-based manufacturer of sausage casings, in a transaction valued at £540 million. Devro said the offer was attractive, representing an implied premium of roughly 65% to its prior closing share price, and the combination is expected to broaden the product offering and support long-term growth.

Chart Industries signed a definitive agreement to acquire Howden, a global provider of mission-critical air and gas handling products and services, from affiliates of KPS Capital Partners for $4.4 billion, funded with a mix of cash and newly created preferred stock. Howden is headquartered in Renfrew, Scotland (United Kingdom), and manufactures engineered rotating equipment such as compressors, blowers, fans, rotary heat exchangers/heaters and steam turbines. The transaction was subject to customary regulatory approvals/closing conditions, was expected to close in the first half of 2023, and was later announced as completed (Mar. 17, 2023).

PA Media Group acquired Hydrogen, an award-winning specialist social media agency and the largest of its kind in Scotland. Based in Glasgow, Hydrogen will continue to operate under its existing leadership as a stand-alone agency within PA Media Group, complementing the group’s digital marketing capabilities alongside its wholly owned agency Sticky.

Playmaker Capital Inc. acquired 100% of Wedge Traffic Limited (d/b/a Wedge), an iGaming affiliate marketing operator, to expand its iGaming and affiliate presence in the U.S. market. The transaction values Wedge at approximately US$31.2 million, paid through a mix of cash, Playmaker shares, and contingent earn-out and milestone/deferred payments tied to revenue and EBITDA targets through 2024. Wedge is headquartered in Glasgow, Scotland, and its founders Dan Kersh and David Copeland will join Playmaker's senior leadership team.

Hydrasun, backed by SCF Partners, acquired Fuel Cell Systems Ltd. (FCS), a provider of hydrogen systems and applications including fuel cells, modular electrolyzer systems, and hydrogen refueling, compression, and storage solutions. The acquisition expands Hydrasun’s hydrogen-sector capabilities by adding proprietary technology and broader hydrogen systems offerings, with planned post-close hiring, manufacturing scale-up, and increased R&D investment.

Convergix Automation Solutions, backed by Crestview Partners, completed the acquisition of AGR Automation, a UK-based custom automation design and systems integration provider serving life sciences and other sectors. The deal represents Convergix’s third acquisition as Crestview builds a diversified, global automation solutions platform; financial terms were not disclosed. The acquisition also includes AGR’s subsidiary Aylesbury Automation and marks Convergix’s first expansion into Europe.

Verso Wealth Management, a portfolio company of Cairngorm Capital Partners, has acquired Campbell Thomson Insurance Services Limited as its fifth acquisition and first in Scotland. The deal expands Verso’s UK wealth management footprint and increases group assets under management to over £1 billion. Campbell Thomson’s owners, Stewart Thomson and Euan Bottomley, will remain with the business to help grow Verso’s presence across Scotland.

N4 Investments, the direct investment vehicle of N4 Partners, announced a seven-figure investment in Opulus Financial, a CFO solutions business headquartered in Glasgow. The funding will support Opulus’ team buildout and expansion across Scotland and beyond.

Recycling Lives, a portfolio company of Three Hills Capital Partners, has acquired John R Adam and Sons Ltd (JRA&S), a Glasgow-based recycler and exporter of ferrous and non-ferrous metals. The transaction expands Recycling Lives’ footprint to 23 UK locations and enhances export capabilities via JRA&S’s port facilities. Jake Adam will continue to run the JRA&S operation as part of the Recycling Lives Group.

WTW (NASDAQ: WTW) announced it is acquiring Butterwire, a Glasgow, Scotland-based FinTech provider of data analytics and AI/machine learning platforms. The deal is intended to strengthen WTW’s climate risk analytics capabilities and integrate Butterwire into WTW’s Climate and Resilience Hub. Butterwire’s platform and team will complement WTW’s climate and investment services, including work tied to WTW’s CTVaR methodology and the STOXX Climate Transition Indices platform.

KNOT Offshore Partners LP, through its wholly owned subsidiary KNOT Shuttle Tankers AS, acquired KNOT Shuttle Tankers 35 AS, the company that owns the shuttle tanker Synnøve Knutsen, from sponsor Knutsen NYK Offshore Tankers AS. The acquisition price was stated as $119 million, less $87.7 million of outstanding indebtedness, and was financed on a non-dilutive basis using borrowings under a new, separate sale-and-leaseback arrangement related to the vessel Torill Knutsen.

Italmatch Chemicals has acquired Aubin Group to strengthen its presence in the oil & gas and renewable energy sectors across the Middle East, the North Sea, and the United States. Aubin, headquartered in Scotland, develops and supplies chemical solutions and well services technologies, expanding Italmatch’s sustainable product portfolio in line with its ESG strategy.

Metanomic has acquired Intoolab A.I., a Bayesian Network artificial intelligence company, to enhance Metanomic’s data analytics and AI capabilities for video games and Web3. Intoolab’s technology will be rebranded as “Thunderstruck” and integrated to extend the Metanomic Engine with real-time player insight and more intelligent game economy tooling.

Dalrada Corporation acquired Deposition Technology Ltd. (DepTec) to expand its technology division and support growth across its clean energy and technology initiatives, including Dalrada Energy Services and Likido Green Energy. DepTec manufactures and services chemical vapor and physical vapor deposition systems, vacuum/plasma technology-based systems, and related control software for semiconductor and other advanced device manufacturers. DepTec operates globally with facilities in Livingston, Scotland and sales/finance offices in Devon, England.

Centurion Group acquired RMEC Limited, an integrated rentals, sales, and service provider supporting well services and energy-sector clients. The deal expands Centurion’s product and service footprint and increases access to the global decommissioning market. Maven Capital Partners UK LLP noted it was exiting a successful eight-year investment in RMEC through the sale to Centurion.

Agility Public Warehousing Company K.S.C.P., through a wholly owned subsidiary (Agility Bidco), agreed to a recommended all-cash offer to acquire 100% of the ordinary shares of John Menzies PLC for 608 pence per share. The transaction values Menzies at approximately £571 million (fully diluted equity value) and approximately £763 million (enterprise value) and is expected to close in Q3 2022 subject to shareholder and regulatory approvals. Upon completion, Menzies will be combined with Agility’s National Aviation Services to form a larger global airport services group under the Menzies brand.

iCIMS acquired Candidate.ID, a recruitment marketing automation software company built for talent acquisition teams. The deal adds marketing automation and CRM-style capabilities such as lead scoring and automated, personalized recruitment campaigns to the iCIMS Talent Cloud.

Optimove acquired Kumulos, a Dundee, Scotland-based personalized messaging platform for mobile applications. The deal expands Optimove’s multichannel CRM marketing platform by adding native mobile messaging and engagement capabilities integrated into Optimove’s AI-driven orchestration and CDP core. The acquisition closed in March 2022, and Kumulos leadership is joining Optimove in mobile-focused roles.

ArcelorMittal acquired Scottish metal recycling company John Lawrie Metals Ltd. to increase its use of scrap steel and support CO2 reduction in steelmaking. The transaction closed on 28 February 2022, and John Lawrie Metals will continue to be run by its current management.

Parkmead acquired the entire issued share capital of Kempstone Hill Wind Energy Limited, which owns a 1.5MW onshore wind farm in Scotland. Total consideration was £3.29 million in cash, and Parkmead will also assume an approximately £990k project loan. The deal expands Parkmead’s presence in renewable energy and is expected to be immediately revenue and cash-flow enhancing.

Construction Testing Solutions (CTS) has acquired Mason Evans, a Glasgow-based specialist geo-environmental consultancy, to expand CTS’s geographic coverage in Scotland. The deal strengthens CTS’s construction testing, inspection, and environmental monitoring capabilities and adds Mason Evans’s expertise across geo-environmental and geotechnical engineering services.

Baird Capital’s Global Private Equity team announced an investment in Subsea Technology & Rentals (STR), a subsea rental equipment and specialist services provider to the offshore energy industry. Deal terms were not disclosed, and the funding is intended to support STR’s organic and acquisition-led growth and geographic expansion, including support for the offshore wind sector.

GHO Capital Partners LLP (Global Healthcare Opportunities) announced an investment in RoslinCT, a UK-based contract development and manufacturing organisation (CDMO) focused on advanced cell therapies. GHO will partner with RoslinCT’s existing management team to support operational growth, expand development and manufacturing capacity, and accelerate international customer acquisition and product diversification.

Funds managed by Apollo affiliates, together with Miller Homes’ existing management, entered into a definitive agreement to acquire Miller Homes Group Limited from Bridgepoint Group plc. Miller Homes is a leading U.K. homebuilder focused on regional markets in England and Scotland, and the transaction is expected to close in the first quarter of 2022 subject to customary conditions. Financial terms were not disclosed.

Lomond Group, backed by private equity firm LDC, has acquired Scottish lettings and estate agency DJ Alexander, making Lomond the largest lettings and estate agent in Scotland. DJ Alexander will continue to trade under its existing name, with founder David Alexander leading Lomond’s Scotland business as CEO. The deal expands Lomond’s managed-property portfolio and strengthens its presence in Scotland’s central belt.

365 Retail Markets announced it has acquired Spoonfed, a Glasgow-based web-based catering software subscription business. The transaction gives 365 full ownership of Spoonfed and provides an exit for Spoonfed’s investor base, including Equity Gap and Scottish Enterprise, while Spoonfed’s founders will remain involved in the business.

Pivotal Growth has agreed terms to acquire Lifetime Finance Group Limited, a large mortgage broker in Scotland. The deal is the first acquisition for the Pivotal Growth joint venture between Pollen Street IV and LSL Property Services plc, with Lifetime CEO Gordon Hunter retaining a minority investment.

Longacre Group has sold Taylor Hopkinson, a Glasgow-based specialist recruitment partner for the renewable energy sector, to Brunel International N.V. Taylor Hopkinson’s founder and director Tom Hopkinson will continue to lead the business under Brunel’s ownership as it expands its global renewable energy workforce solutions offering.

National Timber Group (NTG), a portfolio company of Cairngorm Capital Partners, has acquired Orchard Timber Products Limited. Orchard Timber, headquartered in Forfar, Scotland, is a specialist distributor of timber and related building products, and will join NTG’s Scottish division while continuing to trade under its existing brand. The deal expands NTG’s Scottish footprint and adds complementary capability in solid wood flooring distribution.

TSG Group, a European provider of technical services for sustainable mobility solutions, has acquired DRB UK Maintenance Limited, headquartered in Glasgow, Scotland. DRB specializes in EV charger installation and maintenance, electrical and signage installation, and hazardous area testing and inspection. The deal strengthens TSG’s sustainable electrical business in the United Kingdom by adding expertise in standard and fast EV charger deployments.

High Tide Inc. completed the acquisition of an 80% interest in Enigmaa Ltd., operating as Blessed CBD, for £9,064,000, paid through a combination of High Tide shares and cash. The deal gives High Tide entry into the United Kingdom CBD e-commerce market and includes mutual call/put options over the remaining 20% stake, allowing High Tide to become the sole shareholder within three years.

Industrial Flow Solutions (IFS), a May River Capital portfolio company, agreed to acquire Clearwater Controls Ltd., a Glasgow-based provider of intelligent wastewater pump monitoring and deragging control systems. The deal will expand IFS’s IoT and cloud-based monitoring capabilities for wastewater network management, and Clearwater Controls will retain its name and brand. Financial terms were not disclosed.

Maven Capital Partners led a £4.4 million investment in Candle Shack, a rapidly growing e-commerce business supplying candle-making components and providing contract candle manufacturing for luxury brands. The financing package includes £3.0 million from Maven Investor Partners and a £1.4 million debt facility from HSBC UK to support Candle Shack’s expansion, marketing, and EU operations.

Mitsubishi Electric Corporation, together with its U.S. subsidiary Mitsubishi Electric Power Products, Inc. (MEPPI), entered into a definitive agreement to acquire UK-based Smarter Grid Solutions (SGS), a provider of distributed energy resources (DER) management software for utilities and DER operators. The deal was announced August 9, 2021 and closed on August 19, 2021; financial terms were not disclosed. Following closing, SGS will maintain operations in Glasgow, Scotland and report to MEPPI.

Novolex acquired Vegware, an international provider of compostable foodservice packaging headquartered in Edinburgh, Scotland. Vegware will join Novolex’s Eco-Products portfolio while keeping the Vegware brand and label, expanding Novolex’s global compostable packaging footprint and strengthening Eco-Products’ European presence.

Scottish Equity Partners (SEP) completed a significant growth equity investment in AutoRek, a cloud-based SaaS provider of financial control and regulatory reporting solutions. The investment will support AutoRek’s accelerated product development and international expansion, with SEP representatives joining the AutoRek board. AutoRek is headquartered in Scotland and serves financial institutions across asset management, banking, and insurance.

SCF Partners made an investment in Hydrasun Ltd, an Aberdeen-headquartered provider of fluid and gas transfer equipment, services, and technology serving oil and gas, industrial, renewables, and hydrogen end markets. Hydrasun’s CEO Bob Drummond and the senior management team will remain in place and will retain an ownership stake in the business.

TriSpan LLP, backed by Keyhaven Capital Partners, acquired Real Good Dental (RGD), a Scotland-based dental practice group. Founded in 2012, RGD operates 46 practices serving over 350,000 patients and also offers aesthetic services under the Westerwood Health brand. The investors plan to accelerate growth through geographic expansion and add-on acquisitions in the fragmented UK dental market.

Wunderman Thompson, part of WPP, has acquired NN4M, a mobile commerce technology provider for global brands. NN4M will join Wunderman Thompson Commerce to strengthen its multichannel ecommerce and marketing technology capabilities. NN4M is headquartered in Edinburgh, United Kingdom.

3t Energy Group has exchanged contracts to acquire Petrofac’s UK in-person training business, including its UK training centres and related Survival and Marine, Health and Safety, Fire, and Major Emergency Management capabilities and facilities in Scotland. The deal value was not disclosed. The acquisition expands 3t Energy Group’s in-person marine and emergency management training offering and makes 3t Energy a supplier to Petrofac for its UK in-person training needs.

Digital technology services provider Incremental Group, backed by Dunedin, has acquired Glasgow-based Redspire to strengthen its position in the UK financial services market and expand its Microsoft Dynamics capabilities. Redspire will continue to operate autonomously within Incremental as the combined group exceeds £20m in run-rate revenue and 180 employees across the UK.

OssDsign, a Swedish medtech company, acquired Sirakoss, a portfolio company of Epidarex Capital, for an initial cash consideration of USD 11 million plus milestone and royalty payments. Sirakoss developed Osteo3 ZP Putty, a nanosynthetic bone graft substitute with FDA 510(k) clearance, which is expected to complement OssDsign’s craniomaxillofacial portfolio and support immediate US commercialization.

Maven Investor Partners supported a management buy-in of FIS Chemicals, an Aberdeen-based developer and manufacturer of specialist chemicals with a strong environmental focus. Maven co-led the investment alongside the Foresight Scottish Growth Fund, with each investing £2 million alongside the incoming buy-in management team. The funding is intended to accelerate growth through team expansion and international expansion into Asia and the Middle East.

Rockstar Games acquired game development studio Ruffian Games, which is based in Dundee, Scotland. Following the acquisition, Ruffian Games will operate under the new name Rockstar Dundee, and the transaction terms were not disclosed.

Arrow Business Communications Limited ("Arrow"), backed by MML, has acquired Click Networks Limited, a Glasgow-based provider of cloud and IT managed services. The deal expands Arrow’s IT consultancy, support, and services capabilities across England and Scotland, adding Click Networks’ help desk and field engineering teams. Click Networks is Arrow’s third acquisition since MML’s investment, following Altinet and BTL Communications.

Orbis Protect has completed the strategic acquisition of Glasgow-based Optosafe, a rapidly deployed 360-degree CCTV tower provider and long-time partner. The acquisition is intended to expand Orbis Protect’s presence in the high-growth CCTV towers market and support its ongoing growth strategy, with funding support including financing from Clydesdale Yorkshire Bank and backing from NorthEdge Capital.

Maven VCTs led a growth investment in Quorum Cyber, alongside the Scottish Investment Bank. The funding will support Quorum Cyber’s continued scaling through expanded sales and marketing resources and ongoing product innovation as it grows internationally.

A consortium comprising Asterion Industrial Partners, EDF Invest and Swiss Life Asset Managers completed the acquisition of Energy Assets Group (EAG). EAG, headquartered in Livingston, Scotland, provides multi-utility metering services/management and last-mile utility connections across the United Kingdom. The company was acquired from Alinda Capital Partners and Hermes Infrastructure.

Motorola Solutions, Inc. has completed the acquisition of IndigoVision, a UK-based provider of end-to-end video security solutions headquartered in Edinburgh, Scotland. IndigoVision’s offerings include cameras, video management software, encoders, and storage devices, expanding Motorola Solutions’ video security and analytics portfolio and go-to-market reach.

Hunting PLC acquired 100% of the issued share capital of Enpro Subsea and its subsidiaries in Norway, the United States, and Ghana. Enpro Subsea, a subsea production optimisation specialist serving offshore oil and gas operators, will continue to trade under its existing brand and management team. Enpro previously received growth capital from EV Private Equity in January 2018 to support its growth strategy.

activpayroll, an Aberdeen-headquartered global payroll specialist, announced a significant growth investment from London-based private equity firm Tenzing Private Equity. The investment backs activpayroll’s senior management team and is intended to support continued product development, sales investment, and the company’s acquisition and international expansion strategy.

Verdant Leisure announced the acquisition of Erigmore Estate (Erigmore Leisure Park) in Perthshire, expanding its portfolio to ten leisure/holiday parks across Scotland and North East England. The transaction represents Verdant Leisure’s sixth bolt-on acquisition since being backed by Palatine Private Equity in April 2016 and supports its ongoing buy-and-build growth strategy.

Marlin Equity Partners announced the acquisition of Logicalware Ltd., a provider of email automation and customer service ticketing software. Logicalware will be merged into Marlin’s existing portfolio company Puzzel to strengthen Puzzel’s cloud contact center (CCaaS) offering and expand capabilities, particularly in the U.K. market.

Duncan & Todd acquired nine retail optician branches from Black & Lizars for an undisclosed sum, making Duncan & Todd the largest independent optical provider in Scotland. The deal follows Duncan & Todd’s £15 million investment from LDC in 2018 and supports its buy-and-build expansion strategy across additional Scottish towns and cities.

Maven Capital Partners, through the Maven UK Regional Buyout Fund, led a management buyout and acquired a majority stake in CMS Window Systems, a Scottish designer, manufacturer, and installer of PVCu and aluminium windows, doors and curtain walling solutions. The transaction represents an exit for prior investor LDC, which had backed CMS with a minority investment in 2016; the sale price was not disclosed. CMS is headquartered in Cumbernauld, North Lanarkshire, and operates an additional door manufacturing facility in Fife.

Civica UK Limited, a wholly owned subsidiary of Civica Group, acquired VisionWare Limited, a Glasgow-based master data management (MDM) software company. The deal strengthens Civica’s digital transformation capabilities for government and healthcare customers, expanding its “single customer view” and data management offerings across the UK and the US.