Deals
Floreat has completed an investment into fintech firm CreditEnable via its Principal Investment Fund I Limited, which is headed up by Jeff Sinclair.
CreditEnable, which was recently named as one of the Inclusive Fintech 50 by MetLife foundation and Visa Inc, provides technology and credit analytics solutions for Small and Medium Enterprise (SME) lenders. Focusing on expanding access and usage in underserviced areas, the firm develops credit profiling tools for SME borrowers to enable them to secure affordable debt.
Based in London with offices in Mumbai, the firm has commercial relationships with multiple lenders who represent billions of dollars
Carey Olsen’s corporate team in the Cayman Islands has advised Brazilian corporate fitness startup Gympass on its latest funding round which has secured commitments of USD300 million – investment that puts the valuation of the company at more than USD1 billion.
The company, which was founded in Brazil in 2012 and moved its headquarters to New York in 2018, has more than 40,000 gym and studio partners and provides monthly passes to over 2,000 companies in 14 countries so that they can help pay for fitness programmes and classes for workers.
Gympass’ latest funding came from Japanese investment group
Ardenton Capital Corporation (Ardenton) has made its fifth investment in the UK, taking a majority equity position in Manchester-headquartered Food Innovations Baking Group (Food Innovations), a manufacturer of specialist products for the home baking and retail market.
Founded in 2004, the business now has 250 employees across five sites and reports revenues in excess of GBP34 million. The deal incorporates the acquisition of Doric Cake Crafts, Doric Crimped, Doric FPD and Food Innovations.
The business has grown rapidly through acquisitions, as well as strategic investment in new technologies that support the delivery of innovative cake craft, decorations, cake boards and
Intertrust, a global provider of administrative services to corporate, fund, capital markets and private wealth clients, has acquired Viteos, a provider of technology solutions for hedge funds, private equity, real estate, private debt and other alternative asset managers, from PPC Enterprises, FiveW Capital and Viteos management.
Viteos has approximately 715 employees and operates a global delivery model with its headquarters and sales team in the US supported by Centres of Excellence in India. Viteos delivered revenues of USD 52 million, 94 per cent in the US, having grown at an organic CAGR of 22 per cent over the last two
H2 Equity Partners, Sherpa Capital and Auctus Capital Parters have teamed up to create Optimum Alliance, a new network of mid-market private equity investors in Europe.
The Alliance covers key European private equity markets and consists of partners with a proven track-record of value creation and facilitates accelerating European rollouts and privileged access to scarce resources in deal origination and transactions.
The objective of the Optimum Alliance is to create a platform of independent – high performing – firms that can share best-practices, investment experiences, cooperate on deal situations as and when appropriate and allow co-investment.
A statement from
German Equity Partners V (GEP V), a Fund managed by independent German investment company ECM Equity Capital Management (ECM), has acquired a stake in Berlin software developer PikeTec.
PikeTec specialises in testing and verifying the functionality of safety-relevant embedded software for electronic control units, for example in the field of intelligent driver assistance systems. Together with ECM, the company founders Dr. Eckard Bringmann, Andreas Krämer and Dr. Jens Lüdemann want to continue the success of PikeTec and capture the significant growth potential resulting from increasing automation and digitization of vehicles. As managing partners, the founders will also continue to lead
Cairngorm Capital Partners’ portfolio company, Parker Building Supplies (Parkers), has acquired Sussex Turnery and Moulding Company Limited (Stamco).
This is a key step in Parkers’ strategy to increase its business through a combination of acquisitions, new site development and organic growth. Parkers aims to become the market-leading independent builders’ merchant in the South East of England.
Established in 1957, Stamco is a privately-owned, independent builders’ merchant and wholesale timber processing and distribution business. Headquartered in Hastings, it has five branches in Eastbourne, Hastings, Hove, Worthing and Rye. Stamco employs 180 people and in 2018, achieved GBP32 million in revenue. The
Global investment bank GCA Altium has advised Unily, an SaaS provider of digital workplaces and digital experience platforms, on a USD68 million growth investment from Silversmith Capital Partners and Farview Equity Partners.
Founded in 2005, Unily creates digital workplaces designed to improve collaboration, engage a geographically spread workforce and increase productivity. Its solutions include intranets, extranets and customer portals that combine social channels, apps, communication tools and software packages in one place.
The company has 120 employees across the UK, America and the Far East, and services a portfolio of FTSE 250 and Fortune 500 clients, spanning a diverse range
Silverfleet Capital, a Pan-European private equity firm, has agreed the sale of Phase One, a technology business specialising in high-end digital imaging software and equipment, to funds managed by Axcel.
Completion of the transaction is subject to regulatory approval.
Phase One has two divisions: Software Imaging Systems (SIS), which provides market leading raw image processing software to professional and amateur photographers and enterprises under the Capture One brand; and Image Capture Solutions (ICS), which supplies ultra-high-end, medium format camera systems for industrial applications (such as aerial mapping and inspection), as well as for professional and amateur photographers, and cultural heritage
Private equity firm OpenGate Capital has sold Omniplast to a group of European investors composed of Reedcapital, Luigi M Chiaraviglio, and Swiss Merchant Corporation.
Omniplast was acquired by OpenGate in 2015 through the firm’s original, pre-fund investment in Ivy Group. Financial terms have not been disclosed.
Andrew Nikou, OpenGate Capital’s founder and CEO, says: “We believe that Omniplast stands for global innovation in the fields of piping and fitting systems. I am incredibly proud of the efforts of OpenGate’s European team in the four years since acquiring Omniplast and have now fulfilled our mandate to exit the business at an
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