Deals
The latest Fintech M&A market report from Hampleton Partners, the international technology mergers and acquisitions advisor, reveals that 2019 saw a shift towards blockbuster M&A transactions, historically high deal count levels and impressive valuations. 2019 proved to be the second richest of the decade in terms of fintech M&A activity, with a massive 439 transactions and a disclosed transaction value of over USD130 billion – almost twice the largest disclosed value recorded to-date (USD71 billion in 2018). Valuation multiples continued their rapid climb in the second half of 2019: the trailing 30-month median revenue multiple peaked at a record 3.8x, while
Middle market private equity firm One Equity Partners’ (OEP) portfolio company, The WW Williams Company (WW Williams), has completed the acquisition of CP Company, which does business as CT Power, and Iceberg Enterprises.Headquartered in Commerce City, Colorado, CT Power is a regional dealer of transport refrigeration and temperature-control equipment, parts and services for Carrier Transicold, while Iceberg Enterprises sells trailers, and also provides trailer and parts rental, leasing services, cold storage, used equipment and other products. Founded in 1985, CP Company has facilities in Colorado, New Mexico, Nevada, Arizona and California.
“CP Company’s advanced, energy-efficient refrigeration transport equipment and services
Veincentre, a UK provider of treatment for varicose veins, is looking to expand its number of clinics across the UK this year having secured a seven-figure refinance from Santander following investment from Palatine Private Equity in 2019.Veincentre uses Endovenous Laser Ablation (EVLA), a non-invasive, non-surgical treatment for varicose veins. The benefits of this are reduced surgical and recovery times, as well as reduced signs of scarring and damage.
The company was backed by Palatine’s Impact Fund in July last year in a deal led by Beth Houghton, Head of the Impact Fund, with support from James Gregson and James
Vezeeta, Middle East and Africa’s leading digital healthcare platform has secured USD40 million in a Series D round led by Gulf Capital. The round had strong support from existing investor, Saudi Technology Ventures (STV), who led Vezeeta’s Series C round in September 2018. The fundraising supports Vezeeta’s mission to empower patients in Middle Eastern and African markets with its integrated digital healthcare platform. Vezeeta has grown to become a mainstream digital leader of health-tech solutions, enabling patients to search, book and review the best doctors and medical services in just one minute. Currently operating in 50 cities across Egypt, Saudi Arabia,
Clients of Connection Capital, a specialist private client investment business, have invested GBP7.5 million of private capital in the GBP24 million secondary management buyout (MBO) of global specialist container business Cargostore Worldwide Trading Ltd.The transaction sees the Management team led by CEO Justin Farrington Smith reinvesting alongside Connection Capital’s clients. The investment, coupled with new debt finance facilities provided by DunPort Capital Management, will provide Cargostore with significant capital to fund the next phase of the company’s growth plans. Cargostore’s current private equity backer, Agathos, will also retain a minority stake.
Established in 1993, Cargostore provides specialist transport and storage
Sherpa Capital, a private equity fund manager with EUR400 million in assets under management, has sold Cegasa Portable Energy to Mexican trade buyer Compañía Minera Autlán (Autlán) for EUR26.35 million.Founded in 1934 and headquartered in the Basque Country (northern Spain), Cegasa Portable Energy is the second largest producer of Electrolytic Manganese Dioxide (EMD) in Europe, with annual sales of EUR17.7 million in 2019.
The scope of the transaction has been limited to the Cegasa Portable Energy business unit, which was carved out from the Cegasa Group for its divestment. In this way, the Cegasa Energía business unit was excluded
Insight has completed its venture acquisition of enterprise IoT security company Armis company, which was announced on 6 January, 2020, at a valuation of USD1.1 billion, with participation from CapitalG for USD100 million and rollover from certain existing stockholders.Armis will continue to operate independently and will be fully managed by its two co-founders, Yevgeny Dibrov, CEO, and Nadir Izrael, CTO, and its executive team, while leveraging the support of Insight’s industry-leading business strategy and ScaleUp division, Onsite. As part of the acquisition, Insight Co-Founder and Managing Director Jeff Horing, Insight Managing Director Teddie Wardi, Insight Principal Thomas Krane and Cyberstarts Founder
Align Capital Partners’ (ACP) environmental services platform Alliance Source Testing (AST) has acquired METCO Environmental (METCO) from TestAmerica, a subsidiary of Eurofins Scientific (ERFSF).
METCO provides source emissions (or stack) testing services to customers primarily across the Texas and Gulf Coast regions with offices in Dallas, Houston, and Baton Rouge.
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METCO is a leader in the region, building a strong reputation for quality over the past 40 years, providing source testing and air emissions services to chemical, oil & gas production and refining, demilitarisation, power generation, and other customers.
“Acquiring METCO adds experienced talent, resources, and expertise to
The EQT Infrastructure IV fund (EQT) and OMERS Infrastructure Management (OMERS) are to jointly acquire Deutsche Glasfaser from KKR Infrastructure and Reggeborgh.Since its establishment by Dutch investor Reggeborgh in 2011, Deutsche Glasfaser invested heavily in fibre infrastructure in underserved rural and sub-urban communities in Germany and today provides high-speed internet access to more than 600,000 households and 5,000 businesses. Deutsche Glasfaser’s scalable network, consisting of more than 30,000 kilometres of fibre-optic infrastructure, together with its best-in-class roll-out machine provides a strong platform for continued growth.
Looking ahead, the management team of Deutsche Glasfaser plans to continue the rapid growth
Smith System Driver Improvement Institute, a portfolio company of Levine Leichtman Capital Partners (LLCP), has acquired Driver’s Alert, a provider of fleet safety management solutions that combine real-time driver observation (via vehicle telematics and decal programsmes), comprehensive online safety training, and data management and risk identification tools.Founded in 1952, Smith System is a trusted leading provider of safety training solutions for large commercial fleets and midstream pipeline operators, helping its customers reduce costs associated with negative operating behaviours and comply with stringent regulations. Its proven methods prevent crashes, reduce fuel and maintenance costs and — most importantly — save lives. The
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