Billtrust, a Hamilton, N.J.–based provider of outsourced billing services in North America, has merged with Best Practice Systems, a provider of end-to-end billing solutions. No financial terms were disclosed. Billtrust has raised around $29 million in VC funding from firms like Bain Capital Ventures and Edison Ventures. www.billtrust.com

3i Group has hired Morgan Stanley to find a buyer for Mold Masters, a Canadian manufacturer of plastics melt control systems, according to the FT. The company could be worth around C$700 million. 3i reportedly also is planning to sell off three other companies early this year: Civica, Scandlines and Labco (in which it holds a minority stake). www.3i.com

Houlihan Lokey has acquired Milestone Advisors, a Washington, D.C.-based investment bank focused on financial services clients. No financial terms were disclosed. www.hl.com

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