Deals
SALU Capital (SALU), together with its partners Apex Group, Genstar Capital, and Inlife Holding, has purchased at least 95 per cent of the shares of Augur Financial Opportunities 2 SICAV (AFO-2).
The Luxembourg investment vehicle, which is managed by German Augur Capital and includes the fund’s portfolio companies, German life insurer myLife Lebensversicherung AG (myLife) and Luxembourg-based fund administration and ManCo business LRI (LRI Group), has been acquired from the Fund’s investors in a secondary fund buy-out transaction. As part of the transaction, LRI Group will become part of Apex, a Genstar portfolio company, while myLife will become a wholly
A veteran of litigation finance has launched a well-capitalised company with a commitment to elevate fairness and client objectives in financing commercial and business legal disputes.
Ralph Sutton, formerly chief investment officer of Bentham IMF, has formed Validity Finance to provide businesses, law firms and individuals with non-recourse funding for a wide variety of commercial litigation.
Validity’s backers have committed up to USD250 million of capital to the new business. The company is anchored by a majority commitment from New York and London-based private equity firm TowerBrook Capital Partners, through its Structured Opportunities Fund.
Sutton sees Validity as
OakNorth has provided The Inn Collection Group, one of North East England’s biggest leisure operators with seven sites across Northumberland, County Durham and Teesside, with finance to fund further expansion.
Established in 2006, The Inn Collection Group has become a market leader in developing contemporary inns providing accommodation, food and drink to leisure and business customers. It currently has 215 rooms across its seven sites, but plans to increase this to almost 300 by 2020 with the OakNorth lending.
In addition to opening an eighth inn later this year – a 30-bedroom inn in Amble, Northumberland – the business
Montagu Private Equity (Montagu) is to acquire Wireless Logic Group (Wireless Logic), a smart connectivity platform provider, from CVC Capital Partner’s Growth Fund. The Wireless Logic sale represents the first exit for CVC’s Growth Fund. Terms of the transaction have not been disclosed.
Wireless Logic was established in the UK in 2000 and provides businesses with specialist Internet of Things (IoT) and Machine-to-Machine (M2M) platform services across mobile, satellite, low-power wireless, and fixed line networks. The company’s services enable smart connectivity for applications and devices, creating two-way communication across secure private networks. The platform gives organisations of all sizes the
Magnitude Software, a specialist in delivering unified application data management to global organisations across industries, has acquired Every Angle Software Solutions, a specialist in SAP-powered business analytics.
Every Angle’s self-service solution works on any SAP system (ECC and HANA) and hides the complexity of SAP’s data structure, allowing end users to quickly identify and resolve key business issues.
This third acquisition in the past eight months, and seventh in total, immediately expands Magnitude’s leadership presence in the SAP ecosystem alongside providing a mature base of operations in Europe.
“Magnitude’s mission is to simplify the complex application landscape for
An investment subsidiary of Investindustrial VI (Investindustrial) has acquired Louis Poulsen A/S, a high-end lighting brand with a product portfolio rooted in a strong Danish design heritage, from private equity firm Polaris.
The transaction is subject to customary regulatory approvals and expected to close in Q3 2018. The financial details of the transaction have not been disclosed.
Headquartered in Copenhagen and with production in Vejen, Denmark, Louis Poulsen offers a high-end lighting product range for both indoors and outdoors. Louis Poulsen is a leading Scandinavian brand in the high-end luxury lighting industry and one of the main global leading
Arlington Capital Partners has sold Zemax Software Holdings, a provider of optical and illumination design software, to EQT Mid Market US GP. The Company will continue to be led by current CEO Mark Nicholson.
Founded in 1990, Zemax enables its customers to more efficiently and accurately design optical components through its physics-based optimisation and design software. Zemax helps companies achieve a qualified design more efficiently by streamlining the workflow and communication between optical and mechanical engineers.
Zemax Virtual Prototyping tools include OpticStudio, the industry-leading optical design software, and LensMechanix, a unique application that allows mechanical engineers to package optical
Artificial intelligence (AI) firm Peak has extended its funding by a further GBP1.5 million to meet market demand and accelerate its R&D roadmap, taking the total raised by the company to GBP5 million (USD7 million).
Peak’s investment funding to date has enabled the company to expand its operations, taking headcount from 10 to 60 in the last two years, with plans in place to increase this to 100 staff in the next 12 months. Recognised in the top 25 fastest growing tech companies in the North, Peak has successfully grown subscription revenues by over 300 per cent year-on-year.
Peak
TourRadar has secured USD50 million in a Series C funding round led by TCV with participation from existing investors Cherry Ventures, Endeit Capital, Hoxton Ventures and Speedinvest.
TCV is one of the largest providers of capital to growth-stage private and public companies in the technology industry and has backed industry-leading companies including Airbnb, Expedia, HomeAway, Netflix, SiteMinder, Spotify, Vice, and Zillow.
In connection with the funding, Erik Blachford, a venture partner at TCV, has joined TourRadar’s supervisory board. Blachford was previously President and CEO of IAC Travel, managing all of IAC’s travel assets including Expedia, Hotels.com, and Hotwire.
Aberdeen Standard Investments (ASI) and Phoenix Group (Phoenix) have established a private markets fund financing strategy which is tailored to Phoenix’s financial objectives as an insurer.
It will initially be funded with GBP500 million of capital as it enters the market, which will be transferred from liquidity funds and short duration funds, in a strategy that seeks to generate increased returns from illiquidity premia, whilst assuming the least amount of credit risk.
The strategy focuses on providing investment grade, short duration loans to private markets funds in the earlier years of their life. Given the security on offer
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