American Capital has acquired ASAP Industries LLC, a Houma, La.-based maker of flow control products for companies ranging from small local operations to major oilfield services companies and original equipment manufacturers. The deal was valued at $89 million, with American Capital providing all of the equity, senior debt and subordinated debt. www.asapind.net
The CapStreet Group has completed a majority recapitalization of T.F. Hudgins Inc., a Houston, Texas–based maker of engineered products and services for process industries and third-party manufacturers. No financial terms were disclosed. www.tfhudgins.com
Coaxis, a Portland, Ore.-based construction software company whose shareholders include TA Associates and Updata Partners, has acquired 4Prrojects, a UK-based provider of construction and infrastructure software, from August Equity. No financial terms were disclosed. www.coaxis.net
Lion Capital has agreed to acquire UK-based Jemella Group, maker of the ghd brand of hair styling products, from Montagu Private Equity. No financial terms were disclosed, but Reuters puts the price-tag at approximately $475 million. www.ghdhair.com
Norwest Venture Partners has acquired a 50% stake in Bailey44, a Los Angeles-based contemporary women’s apparel brand. No financial terms were disclosed. www.bailey44.com
Post Capital Partners has sponsored a management buyout of TBA Global, a Woodland Hills, Calif.–based live event marketing agency. No financial terms were disclosed. www.tbaglobal.com
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