Deals
Verint Systems has completed its acquisition of KANA Software, a portfolio company of Accel-KKR, for USD514.2m in cash.
"Accel-KKR was an extraordinary partner to the KANA management team following the acquisition that brought the company private in December 2009," says Mark Duffell, KANA's CEO. "Accel-KKR did what they said they were going to do including supporting our efforts through investments to grow the company both organically and through targeted strategic acquisitions. Through our partnership, we were able to create a market leader in the growing customer service software market."
"We are very pleased with the results of our investment in KANA,
Private equity house Key Capital Partners (KCP) has sold food manufacturer TSC Foods to Edward Billington and Son Limited.
Scunthorpe-based TSC Foods, which was founded in 1991, produces and supplies chilled and frozen sauces, soups, entrees and dressings to the retail and food service markets.
The business developed the Glorious! soup range, which is sold in Morrisons, Asda and Sainsbury’s supermarkets, as well as the Co-op and Ocado.
The Billington Group is headquartered in Liverpool and is one of the UK’s largest family owned businesses. The group has over 150 years’ of trading experience with operations across the
Website building platform BaseKit has secured a further GBP4.5m funding from the Angel CoFund backed by the British Business Bank, alongside existing investment from Eden Ventures, NESTA and Nauta Capital.
The additional funding follows a previous investment of GBP10m.
George Whitehead, chairman of the Angel CoFund, says: “We are very impressed with what BaseKit has achieved and also its potential for the future. Our goal is to provide cash for high-growth UK businesses – and BaseKit’s company vision, ability to execute and current momentum classify it is as exactly the kind of business we like to invest in.”
OMERS Private Equity (OPE) has completed the sale of Maxxam Analytics International Corporation to Bureau Veritas for CAD650m.
Founded over 40 years ago, Canada-based Maxxam provides analytical services and solutions to the energy, environmental, food and DNA industries.
Maxxam processes approximately 2.5 million samples and generates in excess of 41 million results annually through the only national network of laboratories.
Since OPE acquired Maxxam in September 2008, its revenue has grown by 80 per cent and the company has continued to strengthen its market position both organically and through strategic acquisitions.
"We are very proud to have
Actis has made a 36 per cent equity investment in the AutoXpress group, an East African tyre wholesaler and retailer.
Operating through 20 company-owned stores in Kenya and Rwanda, AutoXpress is the key distributor and retailer of leading tyre, battery and suspension brands, including Pirelli, Dunlop, Marshal, BKT, KYB and Energizer.
Servicing both corporate customers and the fast growing Kenyan retail market, AutoXpress is a third generation family business.
Peter Schmid, head of private equity at Actis, says: “AutoXpress is a compelling entrepreneurial business that meets a core consumer need: access to quality tyres, automotive parts and services
Private equity firm HIG Capital has completed the sale of its portfolio company SeaStar Solutions to American Securities.
Based in Litchfield, Illinois, SeaStar Solutions (formerly Teleflex Marine) is a manufacturer of precision-engineered vessel control systems and other specialised applications in marine and industrial end markets.
The company has approximately 750 employees and operates through four manufacturing facilities in North America, while maintaining an international sales presence in Europe, Asia and Australia.
In 2011, HIG partnered with management to acquire SeaStar from Teleflex and undertook multiple initiatives to grow the company and improve its profitability. These efforts include the
Newgen Software, a provider of business process management (BPM), enterprise content management (ECM) and customer communication management (CCM) solutions, has raised equity capital from IDG Ventures India and Ascent Capital.
Avendus Capital was the financial advisor to the transaction. The investment will be used to strengthen presence in the US and other major developed markets, as well as in new product development.
Diwakar Nigam, the managing director of Newgen Software and a founder member of NASSCOM, says: "I am pleased that IDG Ventures India and Ascent Capital have placed their confidence in us. The investment will be used to
Vector Capital, a technology focused private equity firm, has acquired CollabNet from existing venture investors and other shareholders.
Concurrent with the buyout, Vector has also made a growth equity investment in the company, which will be used to accelerate product development, strengthen CollabNet’s sales and marketing efforts, and enable add-on acquisitions.
CollabNet, founded in 1999, is a provider of cloud-based application lifecycle management (ALM) solutions for agile software delivery at scale. It is the founder and principal sponsor of Subversion and a pioneer in cloud-based application development. Its customer base includes both large enterprises such as Capgemini, Intel, Ameritas,
Sub-investment grade corporate credit specialist Alcentra, part of BNY Mellon, has invested in Cambridge Education Group (CEG), a provider of foundation programmes and English language training.
Alcentra’s senior loan will support the buyout by Bridgepoint in a transaction totalling GBP185m and will provide a strong platform to deliver the company’s global growth plans.
Established in 1952, the company is a leading player in the international schools market, providing pre-university education to more than 4000 students recruited from over 95 countries via its global marketing network. CEG addresses the UK and US pathway market through sixth form colleges in the
Partners of Ogier Fiduciary Services have agreed terms for a management buy-out of the business from the Ogier Group.
The deal closed on 1 February 2014 with final completion being subject to the regulatory approvals.
The management buy-out of Ogier Fiduciary Services is being backed by Electra Partners, an independent private equity fund manager with over 25 years’ experience of supporting businesses, including those in the financial services industry. On behalf of its major client, Electra Partners has agreed to invest GBP83m of equity in the GBP180m transaction.
Nick Kershaw (pictured), CEO of Ogier Group, says: "Ogier Fiduciary
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