UK private equity house Maven Capital Partners has invested GBP1 million in ebb3, with the potential for an additional GBP0.5 million of follow-on funding. ebb3 is a technology services business operating in a niche part of the high performance computing market. It delivers data intensive 3D graphical applications to
Peapack-Gladstone Financial Corporation, parent company of Peapack-Gladstone Bank, is to acquire New Jersey-based Murphy Capital Management (MCM). After up front transaction costs, the purchase will be immediately accretive to earnings. Doug Kennedy, president and chief executive officer of Peapack-Gladstone Bank, says: “We have found what we feel is
Private equity firm Irving Place Capital (IPC) has agreed to sell thermal technology company Chromalox to Spirax-Sarco Engineering, a UK-based company specialising in the control and efficient use of steam and other industrial fluids, for USD415 million in cash. Completion of the transaction is subject to customary closing conditions.
Bluebee, a provider of high-performance genomics analysis and storage solutions, and MediSapiens, a biomedical big data curation, management and interpretation company, have formed a partnership to provide customers with analytical solutions for next generation sequencing data. Sequencing technology is maturing and being optimised for performance, while becoming increasingly affordable.
Direct Healthcare Group (DHG) has completed its second bolt-on acquisition in 12 months after acquiring Kirton Healthcare, a UK manufacturer of specialist seating products, from NVM Private Equity. Based in Caerphilly, DHG specialises in the development of clinically effective solutions for harm-free patient care. With 190 employees and turnover
UK private equity investor LDC has exited its investment in international hosting group UK2 in a sale to The Hut Group (THG), one of the world’s largest online health and beauty retailers and brand owners. The transaction value has not been disclosed. LDC originally backed a management buyout
UK law firm Shepherd and Wedderburn has acted for Safestay in its GBP18.4 million debt restructuring and refinancing with HSBC. The Shepherd and Wedderburn team also acted for the group in completing sale and leaseback transactions on Safestay’s hostels in Edinburgh and London’s Elephant & Castle. Those transactions raised
From a structuring perspective, infrastructure funds are most frequently established as either a limited partnership or a limited company. Partnerships are the familiar vehicle for private funds, whereas companies will be used for listed vehicles. Obviously there will be nuances, depending on the asset class and the type of investors
PNC Bank has closed a USD37 million senior secured credit facility for Derby Fabricating Solutions, a portfolio company of Prophet Equity Management. PNC Capital Markets led the syndication as sole lead arranger, with PNC Bank serving as administrative agent. Steel City Capital Funding, a division of PNC Bank, provided a
Life sciences venture capital fund Pappas Capital’s new fund Pappas Ventures V has invested in OrphoMed, a clinical stage company that is developing therapies for treatment of inadequately-controlled gastrointestinal disorders. The investment in OrphoMed is the first investment by the new Pappas Ventures fund. The USD39 million Series
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