Deals
Flexera has entered into a new investment partnership with private equity firm TA Associates.
TA is acquiring equity from existing investors, and will work in partnership with existing lead investor Ontario Teachers’ Pension Plan (Ontario Teachers’) to continue to grow the company. The transaction is expected to close in February 2018.
“The USD350 billion supply chain governing how software is bought, sold, managed and secured is broken, and it’s costing organisations tens of billions of dollars per year. Flexera solves this ingrained problem, and the market is rewarding our innovation with double digit growth, and world-class customer satisfaction and renewal
GCA Altium’s UK business has ended 2017 on a high after completing 12 transactions in the final quarter of the year.
The global advisory-focused investment bank has advised on more than 50 European deals including high profile transactions such as the sale of Breitling to CVC and the GBP171 million IPO of sports retailer Footasylum.
In recent weeks, GCA Altium has advised Livingbridge on its deal with cloud services provider Giacom, as well as the partnership capital investment by Inflexion which valued Radius Payment Solutions at c.GBP800m and leading the takeover of Sofology by DFS, which is the UK’s
The Russian Direct Investment Fund (RDIF) and CDC International Capital (CDC IC) are expanding the scope of their cooperation within the framework of the Russia-France investment platform.
The parties have agreed to jointly search and invest into small and medium-sized businesses in both Russia and France (standard investment amount in each project below 20 million euros). These investments will strengthen trade and economic cooperation between the two countries. A corresponding agreement was signed today in the presence of the French Economy and Finance Minister Bruno Le Maire and the Russian Minister of Economic Development Maxim Oreshkin, during the 23rd session
Clearwater International UK has advised Seabrook Crisps Ltd (Seabrook), backed by private equity firm LDC, on its EUR25.7 million (GBP23.5 million) refinance, with funding provided by Apera Capital.
Established in 1945, Seabrook produces a range of crinkle cut, straight cut and premium lattice crisps, at its headquarters in Bradford, Yorkshire. The company supplies over 20 million bags of crisps each month and has a strong position as the major challenger brand in the category in grocery retail, value retail and foodservice.
Pan-European mid-market private debt investor Apera, is providing unitranche facilities which will support Seabrook in continuing its growth
TA Associates has completed a strategic growth investment in Healix, a provider of outsourced alternate-site infusion therapy management services. Financial terms of the transaction have not been disclosed.
Founded in 1989 by Alan Chaveleh and Mort Baharloo, Healix is a leading provider of infusion therapy management services and compounded intravenous pharmaceuticals for physician practices and hospitals. The company manages office infusion centres on behalf of physicians, hospitals and medical institutions, supporting outpatient treatment for optimal patient comfort and care. Healix also offers central pharmacy services, with patient-specific compounding from a 503A licensed pharmacy facility.
In conjunction with TA’s investment, Healix
AMP Capital’s Infrastructure Debt team has closed a EUR245 million mezzanine debt investment with France-based renewable energy provider Neoen.
Neoen is headquartered in Paris and active across the renewables space including solar and wind, and currently operates in ten countries including France, Australia, Mexico and Argentina. It is the largest independent producer of renewable energy in France, and the third largest overall energy provider in the country.
The mezzanine financing was closed in three cross-collateralised currency tranches (EUR, USD and AUD) on 14 December 2017, and has been validated as a Green Bond following ESG (Environmental, Social and Governance) due diligence by Vigeo,
Old Mutual Wealth has agreed to sell its Single Strategy asset management business (Single Strategy business) to the existing Single Strategy Management team and funds managed by TA Associates, for GBP600 million.
The deal will see TA Associates pay GBP570 million payable on or before completion, with approximately GBP30 million anticipated to be payable primarily between 2019 to 2021 as surplus capital associated with the separation from Old Mutual Wealth is released in the business. This deferred consideration is not subject to performance conditions.
Once the transaction completes, economic ownership of the Single Strategy business will pass to the
The AES Corporation (AES) is to sell its entire 51 per cent equity interest in Masin-AES Pte Ltd, a subsidiary of AES that owns AES’ business interests in the Philippines, to SMC Global Power Holdings Corp (SMC Global Power) for USD1.05 billion in proceeds to AES.
The sale includes AES’ 51 per cent equity interest in the 630 MW Masinloc coal-fired power plant in operation, the 335 MW Masinloc 2 coal-fired power plant under construction and the 10 MW Masinloc energy storage project in operation.
“We are very proud of our operational and commercial success in the Philippines, enabling
Mid-market private equity firm Graphite Capital has sold its investment in Corbin & King, a London-based restaurant group.
The sale forms part of a wider transaction in which Minor Hotels, one of the largest hospitality and leisure groups in the Asia-Pacific region, took a majority interest in the group. Minor is best known as the operator of Anantara hotels.
In 2012 Graphite provided development finance to fund the company’s expansion. At the time Corbin & King operated two restaurants: the Wolseley which had been open since 2003 and the recently opened Delaunay. Both have continued to grow strongly. Subsequently
Palatine Private Equity has invested in ZyroFisher, a cycling parts and accessories distributor, alongside mid-market private equity investor LDC.
ZyroFisher was originally formed in April 2016, when LDC backed the management buyout of Zyro and supported the simultaneous acquisition of Fisher Outdoor Leisure. Based in Darlington, the business supplies major retailers such as Wiggle, Halfords and Evans as well as over 2,000 independents, providing a route to market for dozens of specialist brands with best in class sales, marketing, distribution and customer services support.
Over the past 18 months, the team has successfully integrated the two separate companies and
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