Deals
Fortino has invested the first EUR20 million from its new Digital Growth Fund in fast-growing cloud software pioneer MobileXpense.
The Brussels-based company is specialised in travel and expense management and already completed more than 1,300 implementations worldwide.
As a majority shareholder, Fortino Capital will assist the MobileXpense management to further expand internationally and grow in the medium to large corporate segment by boosting sales and marketing efforts and by enriching the product portfolio.
MobileXpense was founded in 2000 by Xavier Deleval and Patrick Billiet who had previously worked together at Shell. They have a strong international customer base
FFL Partners, a private equity firm focused on investing in quality middle-market companies in growing markets that can benefit from their experience and capital, has completed the acquisition of Autism Learning Partners (ALP), a provider of Applied Behaviour Analysis (ABA) therapy.
Terms of the transaction have not been disclosed.
Headquartered in Southern California, ALP is a leader in providing ABA therapy services for children and young adults with autism spectrum disorders and developmental disabilities. Founded in 1988, the Company’s services feature the use of positive reinforcement techniques that help autistic children and young adults improve their social communication and
Gryphon Investors (Gryphon), a San Francisco-based private equity firm, has made a majority investment in Potter Electric Signal Company, LLC (“Potter” or “the Company”), a leading provider of mission critical products to the fire safety industry.
Kelly Romano, the former president of several of United Technologies’ Fire and Security, and Carrier Corporation global businesses; Mark Levy, the former President and CEO of Honeywell Life Safety; and Rob Salek, the former CEO of Gryphon portfolio company Consolidated Fire Protection, will join the Board of Directors of the Company (along with Gryphon professionals Bob Grady, Wes Lucas and Felix Park) as part
An investor group led by affiliates of Apollo Global Management, Crestview Partners and Reverence Capital Partners is to acquire Voya Financial’s Closed Block Variable Annuity business (CBVA Business).
The investment will be made through a newly formed standalone entity, Venerable Holdings. The proposed transaction, which is expected to close in the second or third quarter of 2018, is subject to regulatory approvals and other customary closing conditions. Apollo, Crestview, and Reverence will own equal stakes in Venerable, and Athene Holding and Voya will also acquire minority positions in Venerable.
The investors in Venerable are all well-established strategic investors with
Private equity investor Equistone Partners Europe has acquired a majority shareholding in the Dugas Company, a promoter and exclusive distributor of high-end spirits headquartered in Paris.
Equistone’s investment in the Dugas Company alongside its management team, led by founder François-Xavier Dugas and the Chevrillon Group, will allow the company to maintain the momentum generated by its strong growth over the past ten years.
Renowned for its position as a key partner of major international rum brands such as Diplomatico, Angostura, Don Papa and Botran, the Dugas Company also distributes leading brands of whisky, such as Springbank, Bunnahabhain and Glengoyne,
Summa Equity Fund I (Summa) is to acquire Norsk Gjenvinning from Altor Fund III (Altor). The transaction is subject to government approval and is expected to be completed in Q1 2018.
Norsk Gjenvinning is Norway’s largest and leading recycling company, with around 1200 employees and annual revenues in excess of NOK 4 billion. Private Equity fund Altor bought the majority stake in the company in 2011, and have since strengthened the company’s position as a leading player in recycling and industrial solutions for the circular economy.
“We are very enthusiastic about Summa as our new owner, as they share
Private equity firm Gen Cap America has sold Thomas Pipe & Supply, a Phoenix, AZ distributor of industrial pipe, valves and fittings, to Winsupply. Gen Cap acquired Thomas Pipe & Supply in 2008. Terms of the transaction have not been disclosed.
Thomas Pipe & Supply is a distributor of industrial pipe, valves and fittings (PVF) to the MRO and industrial markets. Founded in 1983, Thomas Pipe has grown to be the largest PVF distributor in the state of Arizona and has enjoyed consistently strong performance through innovation, product line expansion, industry-leading customer service and a superior operating model.
Gen
Atlantic Street Capital has acquired a majority stake in Lori’s Gifts, the largest multi-unit retailer of gift shops in hospitals, from the Bernick family.
Founded in 1981, Lori’s Gifts is the nation’s leading operator of hospital gift shops with more than 350 shops in hospitals from coast to coast. The company assumes all staffing, buying, accounting and operational responsibilities and offers dynamic merchandise assortments that include elite national brands. It also provides patient gift service for all their locations and same‐day in‐room delivery for personal care items, gifts, flowers, balloons, drinks, snacks, and accessories. Lori’s is based in Carrollton, Texas
The capital markets team at leading audit, tax and consulting firm RSM has acted on deals totalling over GBP1 billion in 2017 – highlighting a strong year and an uplift in activity across the practice.
RSM has advised on a range of high-profile deals including the GBP200 million AIM IPO of the omni-channel women’s fast fashion brand, Quiz Plc; the GBP250 million IPO of PRS REIT plc; and the GBP50m AIM IPO of Keystone Law Group. The team has completed 12 transactions across the Main Market and AIM in 2017, with a total value of GBP1.06 billion.
Diane Craig,
AnaCap Financial Partners (AnaCap), a specialist European financial services private equity firm, has sold First Names Group, a leading independent provider of trust, corporate, real estate and fund administration services worldwide.
The buyer is SGG Group, a leading multi-jurisdictional provider of financial services, backed by Astorg Partners, the European investment firm. Completion of the sale which is subject to regulatory approval, secures AnaCap a 2.6x return on its investment.
First Names Group works closely with client and professional advisers to establish and administer a range of internationally structured solutions, including trusts, companies and foundations, as well as providing fund
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