Senior reporter Michael Schoeck delivers the US Wire with a medical equipment exclusive from healthcare reporter John R Fischer. Novanta has closed its $1.45bn acquisition of Riverpoint Medical, a developer of advanced surgical products, from Arlington Capital Partners. Under the June agreement, Novanta pays $1.2bn upfront plus a $250m milestone payment in Q1 2027. Arlington managing partner Matt Altman said Riverpoint's revenue grew at 15 percent CAGR and more than tripled since 2019, expanding manufacturing in the US and Costa Rica.

In energy, Blackstone Energy Transition Partners exited Aypa Power, a battery storage developer, to Brookfield in a $7bn enterprise value deal. Aypa has 6.5GW of operating and under-construction capacity with a 20GW pipeline. Blackstone acquired NRStor in 2020 and has completed four data center-associated power deals recently.

Aerospace saw two deals: Capitol Meridian Partners invested in RH Aero Systems, an aviation support equipment provider. Separately, TransDigm agreed to acquire Prince & Izant from Industrial Growth Partners for $1.066bn cash. Prince & Izant, based in Cleveland, expects $360m revenue in 2026. July has seen about a dozen A&D transactions among PE firms and strategics.