Adelis Equity Partners Fund III agreed to sell its majority stake in netIP, a Danish managed IT services provider for small and midsize businesses, to Synova, a European growth-focused private equity firm, with netIP’s management reinvesting alongside. Adelis bought in September 2022, when netIP was a regional provider with 165 employees; the company has since more than doubled revenues and tripled EBITDA through organic growth and five add-on acquisitions, and now employs over 270 people across 11 offices with roughly $73 million of revenue, per Dealroom. The deal is expected to close around the turn of the year, terms undisclosed. Classic PE-to-PE handoff in a consolidating Nordic IT services market.
The US Coast Guard placed a $247.8 million order with General Atomics for four MQ-9B long-range unmanned aircraft systems plus ground control stations and supporting equipment, the service’s first purchase of the type. The order went through an existing US Customs and Border Protection contract on September 25 and was announced October 9 in a Coast Guard press release; the unarmed aircraft will support offshore surveillance, search and rescue, drug-trafficking interdiction and illegal-fishing enforcement. A small but symbolic piece of the US maritime-security build-up, funded in part from the FY25 reconciliation package.
Florida’s right-of-way acquisition and bridge construction bond program carries Aaa/AAA/AAA ratings from Moody’s, S&P and Fitch, per the state Division of Bond Finance’s rating summary. The program is backed by motor-fuel taxes and is not a general obligation of the state. Municipal infrastructure debt markets stay fully open for Florida transportation paper.
Bangkok’s train fare subsidies will cost between 5 billion and 5.8 billion baht, the Bangkok Post reported: the Transport Ministry will seek cabinet approval next month for a budget to subsidize electric train fares ranging from 17 to 45 baht per trip, aimed at pulling commuters off roads and onto rail. A direct state subsidy into metropolitan transport, and a fiscal line to watch if the incentives become permanent.