Arcadia Inc.

Arcadia, through its Arcadia Small Cap II fund, acquired majority stakes in KFL EST, a producer of custom air heat exchangers, and CBS EST, a manufacturer of copper tubes and distribution circuits for the HVACR sector. Both companies are based in Italy.

DMC Global signed a definitive agreement to acquire a 60% controlling interest in Arcadia Inc., a supplier of architectural building products, for $282.5 million in cash and stock. The total implied transaction value is $469.6 million.