Secondaries direct firm Nova Capital Management will today announce a deal to purchase a portfolio of businesses in the US, in an acquisition completed in partnership with a UK-listed investment company and a further sign of Nova’s expansion in the region.

Nova and UK-listed Caledonia Investments have agreed to acquire all the operating subsidiaries of US industrial group Latshaw Enterprises for a sum of around $100m, the companies confirmed, marking the third deal that the companies have completed together. The deal will be a secondaries direct transaction, whereby a group of business are purchased together and placed into a fund controlled by a new investment manager.