Deals
Business Growth Fund (BGF) has invested GBP10m for a minority stake in The Consulting Consortium (TCC), a UK independent regulatory and compliance consultancy.
Headquartered in London with an office in Leeds, TCC provides specialist regulatory compliance services to FCA regulated firms in the financial industry.
TCC has advised over 250 financial services clients since 2001 and more than 140 in the last two years including a number of FTSE 100 and multi-national companies.
Entrepreneur Joanne Smith founded TCC in 2000. With over 20 years’ experience in the financial services industry, she began her career at the Financial Services Authority
Advent International, ATP and Bain Capital are to acquire 100 per cent of the share capital of Nets from the existing shareholders, a group of 186 primarily Danish and Norwegian banks, for a cash consideration of DKK17.0bn, corresponding to a price per share of DKK92.37.
In addition, the shareholders will receive the dividend for 2013 totalling DKK498m, or DKK2.70 per share.
The transaction is subject to regulatory approvals/confirmations and is expected to close in the second quarter of 2014.
Nets, headquartered in Copenhagen, is a Northern European provider of payments, information and digital identity solutions. Founded in 1968,
Private investment firm TPG is to acquire The Warranty Group, a provider of warranty solutions and related programmes, from Onex Corporation for an enterprise value of approximately USD1.5bn.
Under the terms of the agreement, TPG will acquire The Warranty Group and its operating units including Virginia Surety Company, London General Insurance Company, and Resource Automotive.
The transaction is expected to close in the third quarter of 2014, and is subject to customary closing conditions and regulatory approvals.
“We are excited to partner with TPG, which will provide our company with the global resources and deep financial industry expertise
Court Square Capital Partners – along with participation by the existing senior management team – will lead an equity investment that will result in the purchase of a majority interest in Conterra Ultra Broadband Holdings.
The transaction includes the acquisition of stakes owned by the company's current institutional shareholders, including affiliates of Goldman Sachs, Duke Energy and GE Capital.
Terms of the transaction were not disclosed.
This investment will bolster Conterra's expansion of its broadband network operations on a national basis in order to capitalise on the growing demand for high-capacity, carrier-class bandwidth services by the company's customers
LongueVue Capital (LVC), a New Orleans-based private equity firm, has invested USD8m of senior secured debt in Prime Health Services, a national provider of medical cost containment solutions.
Founded in 2001 and headquartered in Brentwood, Tennessee, Prime Health is a diversified medical cost containment company that offers a full spectrum of services, including a nationwide Preferred Provider Organisation (PPO) as well as medical cost containment solutions.
Prime Health's cost containment services are tailored to the workers' compensation, auto liability and corrections markets. The company's primary customer base includes insurance companies, third party administrators, and self-insured employers.
"Prime Health
invendo medical, a manufacturer and distributor of a single-use and computer-assisted colonoscopy system, has closed a EUR20.3m financing round led by new investor Xeraya Capital, which invested via an affiliated company.
A German family office also joined as a new investor and existing investors TVM Capital, Wellington Partner, 360° Capital and the founders participated in the financing as well.
The financing will allow invendo to kick-off its industrialisation efforts for the FDA-cleared invendoscopy system.
The invendoscope SC20 has several features that are new to the field of colonoscopy:
— It is the only market-cleared single-use colonoscope
—
Private equity firm Excellere Partners has completed investments in Frontline Energy Services and G2 Partners forming an integrity and risk management solutions provider focused on the energy and utility industries.
Frontline, headquartered in Flagstaff, Arizona, offers a host of integrity management services, including programme management, environmental and governmental compliance, field inspection, GPS data collection, cross-bore program implementation, and distribution integrity management program administration.
G2, headquartered in Houston, Texas, specialises in providing integrity and risk management solutions to the energy industry, including pipeline data and records management, pipeline and facilities integrity engineering, GIS and systems engineering, regulatory compliance support, strategic
Italian Angels for Growth (IAG), Zernike META Ventures, through the Ingenium Emilia Romagna II Fund, and Atlante Seed are to invest in the growth of CellPly, an Italian start up specialised in molecular diagnostics.
The overall investment will come to over EUR2m and will involve the same business team as well as venture capital funds and numerous business angels that will take part in the operation.
It represents one of the biggest seed capital investments carried out in Italy and seeks to contribute to the completion of the prototyping phase of the diagnostics platform developed by CellPly.
The
Private investment firm Inverness Graham Investments has completed its sale of lCCNexergy, a provider of rechargeable power solutions.
The sale of ICCNexergy generated a 5.5x gross cash-on-cash return and a 34 per cent gross IRR for Inverness Graham I.
Under Inverness Graham's ownership, ICCNexergy increased revenue by more than seven times and EBITDA by more than 15 times through both organic and acquisitive growth.
Inverness Graham initially invested in regional battery pack supplier EletriTek-AVT in 2007 and shortly thereafter acquired Nexergy, forming Nexergy Inc. Since then, the company has completed three add-on transactions. The 2010 merger of
HIG Capital’s portfolio company, Trinity Services Group, has completed the acquisition of Swanson Services Corporation, a provider of commissary products and integrated software services to correctional facilities.
Based in Denver, Colorado, Swanson has been owned and operated by three generations of the Swanson family since its founding in 1983. Over its 30 year history providing correctional fiduciary technology, Swanson has established a national presence with over 500 clients in 41 states.
“With the acquisition of Swanson completed, we are excited to expand our secure commissary operations to new markets and clients, while offering a growing array of services and
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