H.I.G. exits Brazilian fiber play; institutional investors back $240m ABS deal. H.I.G. Capital leads its daily private capital deal roundup with its sale of a Brazilian fiber-optic ISP. Elsewhere, three middle-market buyouts landed across insurtech, compliance software, and digital engineering services. In credit, a multifamily internet provider completed its debut ABS; on the infrastructure front, an European joint venture completed a solar portfolio sale. In today's edition: Private equity. H.I.G. to sell Brazil fiber ISP to Claro in $750m deal. H.I.G. Capital agreed to sell its portfolio company Desktop to Claro Telecom Participações, a subsidiary of América Móvil, in a transaction valued at approximately $750 million, including debt. The deal is subject to regulatory approvals in Brazil. Desktop provides fiber-based internet services in São Paulo, Brazil's most populous state. Since acquiring the company in 2020, H.I.G. supported a growth strategy that expanded the subscriber base from about 150,000 to more than 1.2 million across over 200 cities and included 10 acquisitions, as well as an IPO on Brazil's stock exchange in 2021. Terminus backs insurtech provider Andesa Services. Terminus Capital Partners partnered with management to acquire a majority stake in Andesa Services. Terms were not disclosed. Andesa Services provides software for policy lifecycle administration of insurance and annuity products in the advanced markets segment. Following the investment, the company plans to continue development of its applications, expand platform capabilities, and pursue partnerships to extend its administrative tools, while maintaining its existing leadership team and operating model. Bow River backs compliance software provider. Bow River Capital completed a majority buyout of TrackVia. Terms were not disclosed. Bow River's Abdullah Ghuman, Kosta Brkovic, Maitlan Cramer, and John Raeder joined the company's board. TrackVia provides compliance lifecycle management software for federal, public sector, and commercial customers. Following the investment, the company plans to expand product development, including AI capabilities, and scale operations, infrastructure and staffing. Peak Rock exits technology services provider CodeRoad. Peak Rock Capital sold CodeRoad to Etna Capital. Terms were not disclosed. CodeRoad provides software development, AI enablement, and digital engineering services through a multi-site model. Peak Rock carved out the company from Mojix in 2024 and supported investments in sales and marketing, operational delivery and the launch of an AI center of excellence. Credit. Zentro Internet completes $240m ABS financing. Zentro Internet completed its first asset-backed securitization financing totaling $240 million. The issuance included investment-grade Class A-2 and Class B notes sold at a fixed rate to undisclosed institutional investors. Zentro provides internet services to multifamily properties in the U.S. and is backed by M|C Partners. Proceeds from the financing will be used to support network expansion and acquisitions and to strengthen the company's capital structure. Infrastructure. EOS IM, Capital Dynamics sell Italy solar portfolio. EOS Investment Management Group and Capital Dynamics completed the sale of a portfolio of utility-scale solar power plants in Italy to Spanish renewable energy developer Sonnedix. Terms were not disclosed. The portfolio comprises six solar plants in the Lazio region with a total capacity of about 194 MWp, including five operational assets and one asset nearing grid connection. The portfolio was held by the joint venture EOS IM Capital Dynamics Green Energy.

Andesa Services, a provider of policy lifecycle solutions for the life insurance and annuities industry, has announced a majority investment by Terminus Capital Partners, a private equity firm focused on scaling B2B software companies. The ownership transition will not affect Andesa's clients or partners, with no changes to existing service teams or administration platforms. CEO Mark Wilkin said the partnership with TCP strengthens the company's ability to invest in its future whilst maintaining its service values.