The Food Revolution Group is to sell its New Zealand-based business and bioactive intellectual property and lease its LangTech Citrus (LTC) assets to Singaporean company Gravity Solutions Global (GSG), in a deal worth more than AUD17 million over 10 years. FOD chief executive Bill Nikolovski says the deal will allow the company to focus on commercialising its range of consumer products and growing its market share in Australia and internationally.   “This will significantly reduce our expenditure on further research and development of ingredients and technologies. The sale of the bioactives and ingredient intellectual property will give us value for

Law firm Watson Farley & Williams (WFW) has advised a group of German investors, led by Nordwind Capital (Nordwind) and Dr Hans Albrecht, on their participation in Iranian start-up ChapAgha.com.  WFW advised Nordwind and its fellow investors on the drafting and signing of the participation agreement, as well as on the implementation of the participation and capital increase in Iran.   Nordwind is a Munich based private equity firm specialising in acquisitions of medium-sized companies and growth capital investments. Dr Albrecht is its managing director and founder.   ChapAgha, which translates to Mr Print, offers online printing services in Iran

Golub Capital, as Administrative Agent and Joint Lead Arranger, has provided a senior credit facility to support the acquisition of RelaDyne by Audax Private Equity (Audax). RelaDyne, headquartered in Cincinnati, Ohio, is an industry-leading lubricant, fuel, and DEF distributor providing customers with integrated reliability management services for industrial and commercial businesses. RelaDyne's distribution platform spans more than 40 locations serving customers across the Central, Mid-Atlantic, and Southern US. This marks the fifth transaction Golub Capital and Audax have completed together over the past year. "We are thrilled to partner with Audax to support RelaDyne's impressive growth strategy and management," says

Start-up Townsquared, an online community designed to help small businesses connect and share resources with each other, has secured an USD11.05 million round of Series B funding.  This brings the total amount of funding the company has received to USD16.4 million. The latest funding round is led by top-tier international venture capital firm Sierra Ventures and Intuit, the leading provider of business and financial management solutions for small businesses. Additional investors include Jocelyn Goldfein, former Engineering Director at Facebook and former VP of Engineering at VMware, and Pravin Madhani, Angel Investor. Townsquared has been able to establish a strong national

PNC Bank has closed senior secured credit facilities totalling USD48 million for two new clients: Wellnext, a Florida-based family of brands that delivers research-backed nutritional supplements, and Elite One Source Nutrisciences, a Montana-based manufacturer of supplements for branded marketing companies. The financing package for Wellnext, a portfolio company of WM Partners, included a USD30 million senior secured revolving loan and treasury management services.  Based in Sunrise, Florida, Wellnext is a family of brands that delivers research-backed nutritional supplements for every consumer life stage. PNC provided an USD18 million senior secured financing package for Elite One Source Nutrisciences, Inc., a portfolio

Global Fashion Group SA (GFG), has concluded a financing round worth EUR330 million. During the process, Noerr advised its longstanding client Rocket Internet SE, which is the anchor shareholder of GFG. Due to high demand by investors, the minimum commitment was raised by EUR30 million from the original EUR300 million. Rocket is investing EUR68 million in total. This includes the conversion of an investment from a prior financing round. GFG’s largest shareholder Kinnevik also took part in the financing round, along with others. GFG is valued at EUR1 billion following the transaction. Rocket again relied on a Noerr team led

Monroe Capital has increased its credit facility to OSG Billing Services (OSG) to support the acquisitions of ClickSpark (ClickSpark) and The Garfield Group (Garfield). Based in Rochester, New York, ClickSpark is a performance-based internet marketing company that specialises in lead generation and technology. Garfield, based outside of Philadelphia, Pennsylvania, provides marketing and advertising agency services including branding, marketing and public relations strategy and execution, with a particular emphasis on digital strategy. OSG is a leading provider of outsourced billing and statement services and customer communication management.  The acquisition of ClickSpark and Garfield will further expand OSG’s digital marketing platform, branding, strategy

Clearwater International has advised the shareholders of Chase Search and Selection Limited (CHASE) on its recapitalisation with investment provided by Vespa Capital. The business, established in 1998 by Chris and Judy Phillips, started life as a permanent recruitment agency serving the pharmaceutical sector. Today, CHASE is the largest independent recruitment and contract sales organisation (CSO) in the UK providing specialist nursing and sales and marketing personnel to pharmaceutical, biotech and healthcare customers.   Vespa will support CHASE’s continued development; with investment in existing and new personnel and systems to promote further growth. It will also assist the company in its

Noerr has advised Oddo Seydler Bank on the restructuring of a EUR60 million bond of Singulus Technologies as part of a debt-equity swap which involved issuing new shares and bonds. The lead partners were Frankfurt-based Dr Laurenz Wieneke and Dr Julian Schulze De la Cruz.   In February 2016, the Singulus bondholders and shareholders approved a comprehensive restructuring plan at the company which provided that the former bondholders should each transfer their bonds to Oddo Seydler as the settlement agent and receive rights to purchase new shares and bonds in return. The former bondholders made use of more than 82 per