Deals
Odyssey Investment Partners is to sell its portfolio company One Call Care Management to Funds advised by Apax Partners.
Financial terms of the transaction have not been disclosed.
Based in Jacksonville, Florida, One Call is a provider of specialised cost containment services to the workers' compensation industry. In December 2009, Odyssey acquired One Call Medical which was merged with MSC Care Management in August 2012 to form One Call Care Management. Over the last four years, the company has grown both organically and through acquisitions to establish market leadership across multiple segments of the workers' compensation landscape.
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Idinvest Partners, a private equity firm specialising in French and European SMEs, has held the initial close of its Idinvest Digital Fund II at EUR60m.
The fund is exclusively dedicated to financing the growth of developing businesses in the digital and new technology segments (web-based, media, mobile, e-commerce services and software) in France and across Europe. The ultimate target for the fund is to reach EUR100m.
The fund’s first closing includes Bpifrance at EUR15m, as well as Allianz France, an historic Idnvest partner, and other blue-chip insurance companies and family offices. Discussions are under way with other financial partners.
CMO Compliance has completed a management buyout backed by private equity investor Inflexion.
CMO's collaboration with Inflexion coincides with the completion of the first stage in its long term business plan to develop the world's most configurable, versatile and user friendly HSE / GRC software solution.
In stage two of its long term plans, CMO is now collaborating with Inflexion who can bring capital for investment in areas such as customer support and sales and marketing.
The CMO executive team all remain in place. As part of the deal, Inflexion has introduced Loek Van den Boog as chairman.
Norway and the UK are set to host the concentration of private equity portfolio company exit deals in the European oil and gas sector, as a potential further 24 billion barrels of recoverable oil and gas reputedly remain in the North Sea, says S&P Capital IQ.
Looking at current opportunities to be found in this area, S&P Capital IQ notes that transaction activity remains concentrated at the upstream end of the industry – whose significance continues to grow – and reflects the historic profile of active sellers such as 3i, the private equity and venture capital company.
“In the
BaltCap has signed an investment agreement of EUR1.5m with Latvian cosmetics producer and franchise developer Stenders.
Stenders has 225 franchise stores in 23 countries worldwide. It is particularly strongly represented in China and Russia, with revenues from these markets comprising more than half of the company’s turnover. The product assortment of Stenders includes more than 320 bath, body, face and hair care products.
“Producing innovative high quality articles, Stenders has become one of the strongest brand based businesses in Latvia and is now widely represented in the world. We see large potential for fast development in the markets of
Filtration Group is to acquire Porex Corporation from Los Angeles-based investment firm Aurora Capital Group.
Filtration Group is owned by Chicago-based Madison Capital Partners.
Financial terms of the transaction have not been disclosed.
The combined company will have a robust portfolio of products and technologies that serve a diverse range of end markets, including the food and beverage, healthcare, industrial, mining, micro-electronics, consumer, water and energy industries. Following the transaction close, the combined company will serve customers in over 65 countries.
Founded in 1961 and based in Fairburn, Georgia, Porex specialises in the development and manufacturing of
Rage Frameworks, a managed service provider of business process automation and big data solutions, has partnered with growth private equity firm Kayne Partners.
Headquartered in Westwood, Massachusetts, Rage was founded by serial entrepreneur Venkat Srinivasan (chairman and chief executive) and launched its managed services business in 2006. Rage delivers its software through a technology platform on a subscription basis. The company’s solutions enable large enterprise clients to automate manual business processes and use big data analytics to inform decision making.
“We are proud to have the support of Kayne Partners at this important juncture in Rage’s growth. Our partnership
Private equity firm HIG Capital has completed the sale of its portfolio company PMSI to an affiliate of Kelso & Company and StoneRiver Group.
Simultaneous with the sale, the company will be merged with Progressive Medical to create a provider of customized and clinically-focused solutions to manage pharmacy benefit management (PBM), durable medical equipment, home healthcare, transportation, translation and Medicare compliance solutions for workers’ compensation industry.
After acquiring PMSI in 2008 from AmerisourceBergen, HIG partnered with management to invest significant resources in PMSI to rebuild its infrastructure and transform its service offering.
The transaction adds to HIG’s track
Water Street Healthcare Partners has sold its anatomic pathology company, PLUS Diagnostics, to Miraca Life Sciences.
The deal makes Miraca the largest independent anatomic pathology laboratory company in the US.
Water Street acquired PLUS in 2006 when it was a regional laboratory. It invested its team’s industry expertise and network of resources to transform PLUS into a national leader offering a comprehensive menu of specialty diagnostic testing and consultative services. Working with chief executive David Pauluzzi, Water Street supported PLUS with opening bi-coastal laboratories, introducing innovative new tests and recruiting an experienced team of nationally recognised pathologists. In seven
Private equity firm First Reserve’s Fund XII, in partnership with the existing management team, is to acquire TNT Crane & Rigging from Odyssey Investment Partners.
TNT is a provider of lifting services and equipment to customers in the North American energy and industrial infrastructure end markets.
Financial terms of the transaction have not been disclosed. The transaction is subject to certain regulatory approvals and is expected to close before year-end 2013.
Founded in 1985, TNT operates one of the youngest and, at 439 units, largest mobile crane fleets in the company's served geographies in the Gulf Coast and
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