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The Carlyle Group and T&D Holdings have completed their acquisition of a 76.6 per cent interest in Fortitude Group Holdings, whose group companies include Fortitude Re, from American International Group, Inc (AIG). The transaction, which was first announced in November 2019, closed following receipt of required regulatory approvals and customary closing conditions. At closing, AIG received approximately USD2.2 billion in sale proceeds, including the purchase price of USD1.8 billion along with additional consideration paid in accordance with the terms of the purchase agreement.
Fortitude Re is the reinsurer of approximately USD30 billion of reserves from AIG’s Legacy Life and Retirement Run-Off
- 03/06/2020
Confluence Technologies (Confluence), a global technology solutions provider delivering innovative products to the worldwide money management industry, has appointed Sunil Rajan as Global Head of Sales. In this role, he is responsible for setting the company’s overall sales strategy and overseeing the global sales team responsible for executing on it. Rajan is based in Confluence’s Wimbledon office and reports directly to Todd Moyer, President and COO.
Following its acquisition of StatPro in October 2019, Confluence has combined its front-, middle- and back-office offerings to strengthen its position as a global leader in data-driven managed investment solutions. Confluence continues to deliver innovative
- 03/06/2020
- 03/06/2020
Enhanced Healthcare Partners (EHP), a New York-based private equity firm specialising in middle-market healthcare businesses, has made a joint investment in the business merger of Synergy Surgicalists and EA Health.The combined company will offer integrated, high performance clinical staffing and management services for emergency medicine, orthopaedic and general surgery staffing and specialty on-call services. The merger of the businesses will provide enhanced value to all stakeholders—patients, hospitals and clinicians—with a suite of solutions to drive patient care, physician satisfaction and hospital efficiencies.
Industry veteran Bill Sanger, chairman of EA Health and former chairman and chief executive officer of Envision
- 03/06/2020
Alternative asset management firm GCM Grosvenor has closed on an agreement to provide USD85 million in debt financing to Bakersfield Renewable Fuels (BKRF) to help retool the former Alon oil refinery in Bakersfield, California. GCM Grosvenor joins Orion Energy Partners (Orion Energy) and Voya Investment Management (Voya) in providing a total of USD365 million in capital to BKRF.
The investment is part of GCM Grosvenor’s Labor Impact Strategy, which focuses on investing in infrastructure assets that rely on collaboration with union labor to seek opportunities that generate high-quality risk-adjusted returns for investors.
BKRF’s retooling of the facility is expected to take
- 03/06/2020
Private equity and special situations institutional investor Sandton Capital Partners (Sandton) and Sheffield-based credit management specialist Credit Style have joined forces to support businesses facing financing and credit management challenges. The collaboration of these two industry specialists comes as many businesses continue to struggle in the wake of COVID-19, with recent figures from ONS revealing 42 per cent of UK businesses having less than six months of cash reserves, rising to 58 per cent for businesses who had temporarily paused trading. This compared with 39 per cent of businesses continuing to trade.
The partnership has been launched following over nine months
- 03/06/2020
- 03/06/2020
Kinly – a global specialist in video collaboration services, headquartered in Amsterdam – has acquired AVMI – a global AV-integrator and managed services provider, headquartered in London.Kinly and AVMI operate in over 20 locations throughout Europe, USA and APAC, serving clients in over 125 countries with over 1,200 talented and passionate employees.
Robbert Bakker, CEO of Kinly says: “We are very excited to announce that AVMI, a leading UK based global AV integrator, will join and strengthen the Kinly team. The combination of our businesses will support our strategy to expand our international presence. Together, we offer our clients a
- 03/06/2020
Hunter Boot Ltd, a global footwear and outdoor lifestyle brand, has completed the recapitalisation of the business, led by existing shareholder, Pall Mall Legacy, and supported by Searchlight Capital, Pentland and other minority shareholders. As part of the recapitalisation, existing lender Wells Fargo will augment and extend existing financing arrangements for a further three years. As a result, Hunter will have the benefit of an additional GBP18.5 million of capital, to support future growth.
Founded in 1856, Hunter is a progressive British heritage brand renowned for its iconic Original boot and holds two Royal Warrants of Appointment to HM The
- 03/06/2020
Tictrac, a Health Engagement company, has secured a further GBP6 million in funding, bringing its total investment to date to GBP13.5 million. Led by London-based Puma Private Equity, the latest round will allow the company to expand its Employee Wellbeing (SaaS) platform, in a bid to tackle increasing stress levels and health problems in the workplace. Tictrac already works with over a thousand employers globally. Additionally, it will further scale its already successful Enterprise platform, which enables insurance companies and health providers to engage their customers in their health and to tailor relevant products and services to them.
At a time when
- 03/06/2020
Shamrock Capital, a Los Angeles-based investment firm, has acquired Adweek, a specialist in coverage of the advertising and brand marketing ecosystem, from Beringer Capital. Terms of the transaction have not been disclosed.
“Adweek has been a critical source of information and insights for the marketing and advertising community for decades,” says Laura Held, Partner at Shamrock Capital. “Adweek’s experienced management team has done a tremendous job of building on its established brand, expanding its industry coverage and its product offering to further solidify its leading position in the marketplace. We look forward to working with Adweek to continue to drive strong growth,
- 03/06/2020
- 03/06/2020
WatchGuard Technologies has closed the acquisition of the advanced endpoint protection provider, Panda Security. WatchGuard announced the signing of a definitive agreement to purchase Panda in March 2020. Panda is now a wholly-owned subsidiary of WatchGuard, and the combined company will enable its current and future customers and partners to consolidate their fundamental security services for protection from network to endpoint under a single company.
“Our customers and partners need access to enterprise-grade security built for the unique needs and requirements of the mid-market. WatchGuard is focused on delivering these security services via an MSP-focused security platform that simplifies every aspect of
- 03/06/2020
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