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CentreOak sells SurfacePrep to Nautic; Nordic Capital’s investment in Zafin; plus 5 PE deals in door services

Good morning dealmakers, thank goodness it’s Friday.

It’s Obey Martin Manayiti here with the newsletter this morning.

We will start with the latest deal news that Nautic Partners has acquired a surface enhancement company from CenterOak Partners.

Up next, I have a story about Nordic Capital’s investment in Zafin, a company that supports banks in upgrading their core systems.

And for our Friday listicle, we’re rounding out the week with a look at five deals in door services.

Surface enhancement

This morning,Nautic Partners acquired SurfacePrep, a provider of surface enhancement services, from CenterOak Partners.

Upgrade to the premium version to learn more about this deal.

At the core

Core banking systems, the engine that powers bank operations, have been changing to adapt to the wider modernization sweeping the financial services sector. Private equity firm Nordic Capital recently agreed to acquire a majority stake in Zafin, a Vancouver-based company that supports banks in upgrading their core systems.

Premium subscribers get more from Mohit Agnihotri, a partner who leads Nordic’s payments and fintech activities, about this deal.

Closing doors

New construction and refurbishment of aging home and commercial properties in the US is creating attractive opportunities for companies offering door services. The sector has previously racked up huge profits for private equity investors, including KKR’s investment in CHI Overhead Doors – Buyouts’ Deal of the Year in 2023.

PE Hub has seen a steady rise in deals focusing on door manufacturing and servicing recently. We rounded up five deals.

Upgrade to the premium version to learn more about these five deals.

That’s it for today. MK Flynn will be back with more on Monday.

Have a nice weekend,

Obey

Read the full wire commentary on PE Hub ...

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Today's letter was prepared by Obey Martin Manayiti

They said it

“Banks have started to realize that it is incredibly complex to change the core banking technology. That transformation is like changing the engine of a plane while it’s flying. Zafin follows a policy of hollowing out the core, which is taking out certain elements of the core step by step. That is a more successful approach.”

— Mohit Agnihotri, a partner who leads Nordic Capital’s payments and fintech activities, said regarding the Zafin investment