Darag Group, the legacy acquirer with a focus on the European market, has completed the sale of its North American and Bermuda business entities to the RiverStone Group.

Completion of the deal, first announced in August, followed the necessary regulatory approval.

Tom Booth, chief executive of Darag, said: “We are pleased to complete this transaction, which simplifies Darag’s operations.

“It allows the group to focus on its core European business, and brings additional capital to execute a strong pipeline of European transactions, several of which are in advanced stages of negotiation.

“We will now be bringing firepower to our European core where our strong, well capitalised niche position and good market conditions provide an excellent outlook.”