Deals
Future Industrial Services (Future), a private equity-backed environmental and industrial services specialist, has completed the acquisition of Colt Industrial Services (Colt) assets from Augean PLC, in a deal valued at GBP1 million.
Headquartered in Kirkby, Merseyside, Future works with clients including government, major utilities and multi-national companies to provide cost-effective solutions to waste management and decontamination requirements.
Colt provides a range of specialist industrial services to sectors including rail, military and utilities. The Colt acquisition sees Future acquire a significant number of fixed and mobile assets together with 40 staff, taking total headcount to over 350. Future has also
Fulcrum Capital Partners (Fulcrum), a private equity firm focused on the Canadian middle market, has acquired National Logistics Services (NLS), a specialist in Canadian third-party logistics for the apparel, footwear and action wear markets in North America.
NLS has experienced strong growth over the last decade, with over 50 years of continuously evolving retail logistics expertise, a deep understanding of the fashion logistics industry, and best in class e-commerce enabled systems and software.
“We are very excited to partner with Fulcrum through its investment in NLS,” says Terry Vukosa, President of NLS. “The foundation of our success is a
Breed Reply, an active operational investor in early-stage Internet of Things (IoT) businesses, has invested in two more early-stage Internet-of-Things (IoT) businesses – CageEye and ubirch.
The companies have now secured a total of EUR5.8 million in funding, including this investment round, since they were launched.
These new investments mean Breed Reply’s pan-European investment portfolio of early-stage IoT businesses has increased to 22 in a variety of different sectors. The sectors include health & wellness, industrial IoT, smart buildings and cities, security and platforms. So far, in 2018, Breed Reply has invested in four new IoT businesses with plans to
An affiliate of Harbor Beach Capital, a private equity firm focused on investing in lower middle market companies, has made an investment in AVFX, an event technology services business.
Headquartered in Boston, Massachusetts, AVFX provides event technology services, including audio, visual and lighting production and staging services for corporate events, trade shows, exhibits and meetings, primarily in North America.
AVFX was founded over 35 years ago by Murray Lapides who, along with AVFX’s management team, successfully grew the company from a predominantly Boston-focused audio-visual staging company into a well-recognized event technology services business supporting corporate and institutional clients throughout
Irish insurance brokerage Arachas Corporate Brokers (Arachas), a portfolio company of private equity firm Sovereign Capital Partners, has acquired Covercentre. This is the third acquisition Arachas has made since Sovereign backed the management buy-out of the business last year.
Covercentre is a wholesale insurance broker that offers specialist property and commercial vehicle insurance to circa 300 sub-brokers in Ireland. Based in Dublin, the business has rapidly developed a strong and growing presence in the Irish broker-to-broker personal lines market since it was established in 2012. The combined group will employ over 230 staff across its offices in Dublin, Cork and
Cleeng, a video eCommerce provider, has completed its growth financing from Walvis Participaties and existing shareholders, which will be used to accelerate the company’s international growth.
This latest funding round will give the investors a minority stake in the company. Drake Star Partners acted as the exclusive financial advisor to Cleeng on this transaction.
Founded in 2011, Cleeng is the leading company for selling premium videos direct-to-consumer. Its fully managed Live PPV and SVOD solutions take care of all the steps from Identity and Access Management, e-commerce, and end-user support to security. The Company’s highly scalable platform has been
Deal flow for sub-USD1 billion private equity (PE) funds accelerated at the start of 2018 and set an all-time record for any first quarter, according to data analysed by top 100 US law firm Akerman.
Despite this year’s decrease experienced by the rest of middle market funds, data found in the second quarterly Akerman PErspectives Report indicates activity surrounding sub-USD1 billion funds continued to show positive divergence from peers of larger size and scope.
Compared to 2017, exit value and volume for these sub-USD1 billion buyout vehicles for the first quarter of 2018 also were up and stable, in
Social and Sustainable Capital (SASC) has increased its financing commitment to HCT Group, a UK-based community transport operator, by investing a further GBP2.05 million to accelerate its growth. It follows a first investment of GBP500,000 made in 2015.
Founded in 1982, HCT Group has grown to become one of the leading social enterprises in the UK, with a turnover of GBP60m. It helps tackle social isolation by providing transport and training services for marginalised people and communities, which is paid for by the revenues of commercial bus contracts.
SASC is one of the largest investors in the junior tranches of
UK private equity house Maven Capital Partners (Maven) has completed a GBP1.6 million investment in BioAscent Discovery Limited (BioAscent), an integrated drug discovery services business.
The funding will enable BioAscent to significantly expand its service offering, adding complementary chemistry and biology services and capitalise on the growing trend towards the outsourcing of drug discovery activities. The funding will support the creation of 10 new jobs, including in highly skilled scientific positions, and fund additional laboratory space.
BioAscent has recently assembled a team of expert biologists and medicinal chemists that have a track record of taking drugs from concept to
European private equity deal-makers have put the brakes on their frenetic exit pace, with the EUR100 billion-plus generated in each of the last four years from divestments now falling to just EUR39.9 billion for the first six months of 2018, according to provisional H1 data from the CMBOR at Imperial College Business School, sponsored by Equistone Partners Europe and Investec Specialist Bank.
The sum sees the overall value of exits in Europe drop by nearly a third (30 per cent) from EUR56.9 billion in H2 2017, though it was a half of two quarters, with EUR25.8 billion completed in
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