Deals
Varagon Capital Partners (Varagon) is serving as administrative agent and lead arranger on a senior secured credit facility to support the investment of Giraffe Foods Inc (Giraffe) by Graham Partners.
Headquartered in Toronto, Canada, Giraffe is a manufacturer of custom sauces, marinades, dips, and dressings for industrial food processor, retail, and foodservice customers throughout the US and Canada. Giraffe is benefiting from multiple conversion-driven growth catalysts, including increased demand for private label, global flavours, organic, and better-for-you foods, all of which are fuelling brand, flavour, and product proliferation. Giraffe is well positioned to capitalise on growth within the foodservice, retail,
genedrive, the AIM-listed near patient molecular diagnostics company, has raised GBP6 million in funding from new and existing equity investors through the issue of equity, loan notes and a broker option.
The funding includes a GBP3.5m cornerstone investment from BGF, the UK’s most active investor in growing businesses.
Based in Manchester, genedrive has developed the first portable device to diagnose the Hepatitis C virus (HCV) based on detecting the virus’s genetic code. By removing the need for diagnosis to take place in large hospital laboratories, the device can be used by patients in remote areas of the world.
TMF Group to acquire State Street’s Private Equity and Real Estate (PERE) fund servicing business in the Channel Islands.
Completion of the deal will see TMF Group’s assets under administration reach over USD125 billion for PERE clients, making it one of the leading fund administrators in Europe. TMF Group’s ‘one-stop-shop’ of PERE services, including fund administration and depositary services, is supported by experts in over 80 jurisdictions worldwide.
In Jersey, the acquisition will add fund administration to its existing corporate and trust services, whilst in Guernsey, it will complement the recent acquisition of Gentoo, a leading fund administration business.
Swiss energy operator Repower, through its Italian branch, Repower Italia, and Omnes, a Paris-based European investor in private equity and infrastructure, via its Capenergie 3 fund, have formed a joint-venture Repower Renewable, aimed at managing the portfolio assets and at developing new generation projects in the renewable energy sector.
Repower Renewable’s portfolio is made up of hydro, solar and wind assets for a total capacity of about 90 MW built in the last 15 years by Repower or by Elettrostudio Energia. All the assets and the future activities of Repower Renewable are based in the Italian market.
Repower Renewable
Silverfleet Capital-backed 7days, a specialist workwear supplier to the healthcare sector based in the Westphalia region of Germany, is to acquire the Danish company Praxis Herning A/S, which supplies the same end markets in the Nordic region.
Managing directors, Jesper Rasmussen and Søren Wortmann, who are the majority shareholders of Praxis will continue to manage the business and are acquiring an interest in 7days as part of the transaction. It has been agreed that the purchase price will not be disclosed.
Praxis was founded in 1995 and is headquartered in Herning, the textile capital of Denmark. The company
Engineering and environmental services company the RSK Group Ltd has raised a new funding package in the form of a unitranche senior debt facility from funds managed by Ares Capital Europe (Ares).
RSK will use the funding to finance its strategic planned doubling in size over the next few years through development of new businesses and the acquisition of bolt-on complementary businesses. It has today announced the acquisitions of tree surgeons the BTS Group and the TBF Contracting businesses TBF Traffic and TBF Scaffolding.
These are the seventh and eighth acquisitions that RSK – a privately owned company with 36 international offices, 2500
CONMED Corporation is to acquire privately-held Buffalo Filter for USD365 million on a cash-free, debt-free basis.
The transaction is expected to be financed through a combination of new convertible notes and an expanded and amended credit facility. The transaction is subject to customary closing conditions, including receipt of US regulatory approval, and is expected to close in the first quarter of 2019.
Founded in 1991, Buffalo Filter, part of Filtration Group, is the market leader in surgical smoke evacuation technologies. The company’s comprehensive product portfolio includes smoke evacuation pencils, smoke evacuators, and laparoscopic solutions.
“This acquisition is a strong
YFM Equity Partners (YFM) has sold its stake in Mangar Health Limited for an undisclosed sum to Winncare Group Ltd, a leading French medical device company, delivering a 2.7x return to investors.
Mangar Health designs, manufactures and supplies inflatable bathing and lifting devices, which protect carers from injury and promote independence for people with limited mobility. With a global reach into America, Canada and Australia, Mangar Health also offers a wide international distribution network and additional opportunities in healthcare markets such as emergency services. The Company is led by CEO Simon Claridge and his team of Finance and Operations Director
TLT has advised British designer and manufacturer of carbon hybrid automotive and motorcycle wheels Dymag on its GBP3.6m private equity investment from Puma Investments.
The deal will enable Dymag to expand its operations and fast-track product development. It will also create a significant number of new jobs and bring further innovations to its manufacturing processes to meet growing demand for carbon hybrid wheel technology.
Dymag launched the first commercial carbon motorcycle wheel in 1996 and the first carbon hybrid automotive wheel in 2004.
The TLT team was led by corporate partner Jon Gill with support from corporate associate Bryan Shaw,
Sentinel Capital Partners, a private equity firm that invests in promising companies at the lower end of the mid-market, has acquired Pet Supplies Plus (PSP), the third largest pet specialty chain in the US and the largest “independent” pet-specialty operator.
Terms of the transaction have not been disclosed.
Founded in 1988 and headquartered in Livonia, Michigan, PSP is a leading franchisor and operator of pet-specialty stores that provide a customer-centric shopping experience in smaller stores that have a neighbourhood feel. PSP blends the advantages of national scale with those of a friendly, local neighbourhood pet store. Stores have a streamlined
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