Altaris Capital Partners has acquired Intermed Holdings Ltd. (a.k.a. Penlon), a UK-based manufacturer of anesthesia equipment, from August Equity. No financial terms were disclosed. August originally acquired InterMed from 3i Group in December 2002.

Bear Stearns Merchant Banking has completed its acquisition of Universal Hospital Services Inc. from JW Childs Associates, The Halifax Group and UHS management. The deal was valued at approximately $712 million. UHS is an Edina, Minn.–based provider of medical equipment lifecycle services.

Bridgepoint has acquired aerospace components supplier Global Design Technologies from Stirling Square Capital Partners for $343 million. GDT was formed in January 2005, when Sterling Square sponsored simultaneous management buyouts of Deutsch Metal Component (U.S.) and Permaswage (France).

Candover has agreed to sell the Swedish sports utility transportation company Thule Group to Nordic Capital. No financial terms were disclosed. Candover sponsored a €465 million management buyout of Thule in December 2004.

The Carlyle Group has agreed to acquire Niagara Holdings, the parent company of PQ Corp., from JPMorgan Partners, which is managed by CCMP Capital. The deal is valued at approximately $1.5 billion, and is expected to close in the third quarter. PQ is a producer of specialty inorganic chemicals, catalysts, and engineered glass products and was acquired by JPMP in February 2005.

Genstar Capital has agreed to acquire ConvergeOne Holdings Corp. from Nautic Partners. No financial terms were disclosed. ConvergeOne is a Coatesville, Pa.-based IP telephony company.

Leeds Equity Partners has agreed to acquire eInstruction Corp. from Chicago Growth Partners. No financial terms were disclosed. eInstruction is a Denton, Texas-based provider of interactive instructional and assessment systems and content-based assessment software to K-12, high education, corporate and military classrooms.

Lion Capital

has agreed to buy European bakery Vaasan & Vaasan Group from CapVest. No financial terms were disclosed. V&V sells its products in the Nordic and Baltic regions.

Luvata, a European supplier of fabricated metal solutions and components to the manufacturing and construction industries, has agreed to acquire ECO SpA, a manufacturer of heat-transfer coils and coolers. No financial terms were disclosed. Luvata is a portfolio company of Nordic Capital, while ECO is being sold by Compass Partners and represented by Robert W. Baird & Co.

MedAssets Inc. of Alpharetta, Ga. has completed its acquisition of XactiMed, a Richardson, Texas-based provider of Web-based revenue cycle technologies and services to the healthcare industry. No financial terms were disclosed. MedAssets is backed by Galen Partners, Grotech Capital Group and Parthenon Capital, while XactiMed was controlled by Buena Venture Associates, a fund founded by Sid R. Bass and Lee M. Bass.

The Riverside Company has agreed to sell PPC Insulators to Seves SpA for an undisclosed amount. PPC is a Vienna, Austria-based manufacturer of high voltage porcelain insulators used in the power generation, transmission and distribution industries. Seves shareholders include Ergon Capital Partners, Vestar Capital Partners, Athena Private Equity and company management.

Norwest Equity Partners has agreed to sell Des Moines, Iowa-based logistics company Jacobson Cos. to Oak Hill Capital Partners. No financial terms were disclosed. Norwest acquired Jacobson in 2004 and has since made several add-on acquisitions.

Veronis Suhler Stevenson has completed its acquisition of New York-based media company Advanstar Communications Inc. from DLJ Merchant Banking Partners for $1.142 billion. VSS was joined by co-sponsors Citigroup Private Equity and New York Life Capital Partners. DLJ acquired Advanstar in 2000 from Hellman & Friedman for approximately $900 million.