H.I.G. Capital, LLC entered into a definitive agreement to acquire a 75% stake in NAVITAS LIFE SCIENCES LIMITED from TAKE Solutions Limited (BSE:532890) for approximately $100 million on August 6, 2021. The entire management team continues to remain the same and it will be an actively managed company in the TAKE Solutions portfolio. The transaction is subject to subject to shareholder, regulatory and other customary approvals.

The transaction is expected to close in the fourth quarter of 2021. Avendus Capital Private Limited acted as legal advisor to TAKE Solutions Limited. Cyril Amarchand Mangaldas and Stark & Stark acted as legal advisors to TAKE Solutions Limited.

Ernst & Young Associates LLP acted as accountant and tax due diligence provider to TAKE Solutions Limited. Jason Layton of Crosstree Capital Partners, Inc. acted as financial advisor to H.I.G. Capital, LLC. McDermott Will & Emery LLP and AZB & Partners acted as legal advisors to H.I.G. Capital, LLC.

Ernst & Young LLP acted as financial advisor to H.I.G. Capital, LLC.