Deals
International law firm Proskauer represented Acorn OakNorth Holdings Limited in its latest investment round in which it secured a GBP154 million investment from affiliates of The Clermont Group, Toscafund and Coltrane Asset Management.
Launched in September 2015, OakNorth is a UK bank providing fast, flexible and accessible debt finance (GBP500,000 to GBP20 million) to UK businesses, helping to create thousands of new jobs and homes in the country. In 25 months, it has grown its loan book to over GBP800 million with clients including LEON, Galliard Homes, Frogmore, Brasserie Blanc, Strawberry Star and The Collective. Its loans have directly helped
InflaRx, a biopharmaceutical company developing new therapeutics in the terminal complement space, has closed a USD55 million Series D financing and investment round.
The round was co-led by Bain Capital Life Sciences LP, Cormorant Asset Management LLC and RA Capital Management LLC, and complemented by certain investment funds managed by a leading US investment management firm. The transaction is comprised of a USD30 million capital increase and a USD25 million secondary share purchase. Proceeds from the capital increase will be used to advance clinical phase IIb development of InflaRx’s lead drug candidate IFX-1, a first-in-class anti-human complement factor C5a monoclonal
Turenne Capital has acquired a 20 per cent interest in Innovacom, a longstanding European venture capital player focused on innovation, with an eye to developing a partnership.
Amid the dynamic of consolidation in the private equity market, Turenne Capital, with EUR730 million in assets under management, aims to become a concentration hub in France and to reach critical mass of EUR1 billion in AuM in the coming months.
Since 1988, Innovacom has specialised in innovation capital and seed capital transactions, offering start-ups support from early to late stages. Innovacom has nearly EUR200 million under management and aims to raise
HGGC and Court Square Capital (Court Square) are to merge Court Square-owned Research Now, a specialist in market research data, with Survey Sampling International (SSI), an HGGC-owned provider of data solutions and technology for consumer and business-to-business research.
The combined company will continue to be owned by HGGC and Court Square with management having a significant stake in the business. Terms of the private transaction have not been disclosed.
The combined capabilities of Research Now and SSI–including first-party data, technology platforms, and partnerships with major brands, publishers and ad tech providers–will position the integrated organisation to expand the core
Shell, one of the world’s largest energy providers, has signed an agreement to buy NewMotion in a deal that will enable both companies to accelerate the transition to low-carbon transport.
Drake Star Partners acted as the exclusive financial advisor to NewMotion’s shareholders in this transaction.
Under the terms of the deal, NewMotion will remain focused on accelerating its mission in Europe by delivering more innovative smart-charging solutions to homes, businesses and public parking spaces. The acquisition will help NewMotion enhance its electric vehicle (EV) charging services turning more parking spaces into charging stations as well as improving users’ charging
Global law firm Ropes & Gray has advised Bridgepoint Development Capital – another new client for the firm – on its sale of Inspired Thinking Group (ITG), a UK-headquartered technology-led provider of outsourced marketing services, to Equistone Partners Europe.
ITG helps global brands and retailers, such as Heineken, Audi and Puma, to deliver their multi-channel marketing more efficiently and effectively, utilising its proprietary software platform, “MediaCentre”. The financial terms of the deal, which was announced on 10 October, have not been disclosed.
The Ropes & Gray team was led by London-based private equity partner Helen Croke. Other members of
Morgan Stanley Expansion Capital, a growth-focused private investment platform within Morgan Stanley Investment Management, has closed on over USD275 million of capital commitments for North Haven Expansion Credit LP and its related funds, exceeding its fundraising target.
Expansion Credit intends to capitalise on Morgan Stanley Expansion Capital’s (Expansion Capital) long-standing history of private growth investing in late-stage, private companies across a broad range of industries, including technology, healthcare, consumer, ecommerce, digital media and business services.
“We are pleased that investors have placed their trust in us and recognise the potential of our Expansion Credit offering, given our strong sourcing
Noerr has advised UniCredit Bank AG and National-Bank Aktiengesellschaft on financing the acquisition of shares in the outdoor advertising specialist IT Works.
The shares were acquired by the Munich mid-market investor Afinum Management, which is acquiring a significant interest in IT Works via one of its funds.
IT Works welcomes its new shareholder as part of its growth strategy. The IT Works management is also acquiring a substantial interest in the Düsseldorf company.
The banks were advised on the financing transaction by a team from Noerr led by partner Tom Beckerhoff. UniCredit Bank regularly relies on advice from
CVC Capital Partners Strategic Opportunities (CVC) and Téthys Invest have entered into final exclusive negotiations to acquire Astorg and Montagu Private Equity’s remaining majority stake in Sebia.
CVC and Téthys Invest would therefore join Caisse de dépôt et placement du Québec (CDPQ) and Sebia management as shareholders of Sebia.
Founded in 1967, Sebia is a provider of clinical protein electrophoresis equipment and reagents, a technology used for in-vitro diagnostic testing. Its systems analyse proteins in order to screen and monitor various diseases and conditions; primarily oncology (Multiple Myeloma), metabolic disorders such as Diabetes and also Hemoglobinopathy and rare pathologies.
Mid-market private equity investor Equistone Partners Europe Limited (Equistone) has acquired Inspired Thinking Group (ITG), a Birmingham-headquartered technology-led provider of outsourced marketing services.
Equistone has acquired a majority stake in the company from Bridgepoint Development Capital (BDC) alongside management, for an undisclosed sum. With a pan-European network of offices, Equistone will support the company’s ambitious international growth aspirations and continued investment into digital marketing services.
ITG helps global brands and retailers including Heineken, Audi and Puma to deliver their multi-channel marketing more efficiently and effectively, utilising its proprietary software platform, “MediaCentre”. Going forward, under its new “Intelligent Marketing Made
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