Deals
Merus, a biopharmaceutical company focusing on human antibody therapeutics, has secured a EUR31m extension to its series B financing round, bringing the total round to EUR47.6m.
Johnson & Johnson Development Corporation (JJDC) joined as a new investor along with existing investors Novartis Venture Fund, Pfizer Venture Investments, Bay City Capital, LSP (Life Sciences Partners), and Aglaia Oncology Fund.
A representative of JJDC will join Merus’ board of directors.
Merus will use the new funds to broaden its portfolio of pre-clinical programs for the treatment of cancer patients and to bring its lead programmes into phase I clinical
LBO France has announced the sale of Groupe Poult’s Polish activities to Bridgepoint, for an undisclosed amount.
Established in 1993 and operating under the Dr Gerard brand, the business was acquired by Groupe Poult in 2010 as part of a build up orchestrated by LBO France. Today it’s a leading biscuit producer in Poland, selling products to all retail formats, operating from three sites in the country and employing 950 people.
As part of the transformation realised by LBO France and under the ownership of Groupe Poult, the Polish business grew significantly, transitioning from a local family owned business
Rowmark, a manufacturer of highly engineered extruded plastic sheet used for engraving and specialty applications, has been acquired by Bertram Capital.
Based in Findlay, Ohio, Rowmark represents Bertram Capital’s third platform investment in the plastics industry. In addition to the equity investment in Rowmark, Bertram Capital also provided subordinated debt to finance the acquisition.
"Rowmark is an established market leader with strong brand recognition, supported by state-of-the-art manufacturing and an unmatched distribution network," says Kevin Yamashita, Partner at Bertram Capital. "Rowmark is led by a capable and experienced management team. They have built a platform with robust operating fundamentals
Funds managed by IK Investment Partners have entered into an agreement with the Norwegian foundation Det Norske Veritas (DNV) to acquire its subsidiary DNV Petroleum Services (DNVPS).
Financial details for the transaction have not been disclosed.
Founded by the Norwegian foundation DNV in 1981, DNVPS is a provider of fuel management services for the maritime and power sectors with customers including ship owners, managers and charterers as well as power plant operators. The company primarily operates within two segments, fuel quality testing and bunker quantity surveys.
DNVPS has experienced strong growth since inception, reaching USD50m in revenue
Opsona Therapeutics has raised an additional EUR3m (USD4m) in a second closing of its previously announced series C equity financing from new investor Omnes Capital.
The extension brings the total raised by Opsona in this series C financing to EUR36m (USD48.6m). On 25 April 2013, Opsona raised EUR33m (USD43m) from Novartis Venture Fund, Fountain Healthcare Partners, Roche Venture Fund, Seroba-Kernel Life Sciences, BB Biotech Ventures, Sunstone Capital, Baxter Ventures, Amgen Ventures, and EMBL Ventures.
The company will use the proceeds of this series C financing to supplement funding a three-part multi-centred, double blinded and placebo controlled clinical study
LNK Partners, a private equity firm focused on investing in the consumer/retail sector, has teamed with management to acquire Fitness Connection, a low-price, high-value chain of health clubs.
The size of LNK’s investment and other terms were not disclosed.
Fitness Connection’s strategy combines value pricing of USD9.95 to USD19.95 per month and no long-term contract obligation with a full range of amenities and services including personal training, kid’s club, group exercise classes, and access to swimming pool, basketball, racquetball, women’s only areas, cardio movie theatre, sauna, steam room, and tanning facilities. The company currently has 28 locations in
Private equity firm The Sterling Group’s affiliated investment fund, Sterling Group Partners III, has completed the acquisition of ROM Corporation and Specialty Manufacturing Inc (SMI).
The businesses have been combined through its holding company, Safe Fleet Acquisition Corp. The investment is Sterling’s fifth investment in its third fund, a USD820m fund raised in 2010. The companies were formerly owned but independently operated and financed by Century Park Capital Partners.
Headquartered in Belton, Missouri, the newly combined company provides safety and productivity-oriented components to the emergency vehicle, truck and trailer, utility vehicle, school bus, and transit bus end markets.
ACTIVE Network is to be acquired by private equity firm Vista Equity Partners in an all cash transaction valued at approximately USD1.05bn.
Under the terms of the agreement Vista will commence a tender offer to acquire all of the outstanding shares of ACTIVE’s common stock for USD14.50 per share in cash, representing a premium of approximately 111 per cent to ACTIVE’s year to date average closing stock price.
The ACTIVE board of directors unanimously recommends that ACTIVE stockholders tender their shares in the tender offer.
"This announcement represents a very positive event for our stockholders and allows
PowerbyProxi, developer of a wireless power system, has received USD4m in funding from Samsung Ventures Investment Corporation (SVIC).
Michael Pachos from SVIC joins PowerbyProxi’s board.
This brings the total value of the company’s Series C financing to over USD9m following an announcement earlier this year that PowerbyProxi had raised USD5m from TE Connectivity and existing investor Movac.
SVIC is the investment arm of the Samsung Group, a global player in areas that range from mobile devices and flat-panel displays to chemicals and life insurance. This investment marks its first in the wireless power industry.
"Receiving this
The TCW Group has acquired Los Angeles-based Craton Equity Partners, a private equity firm that specialises in socially responsible investing.
Terms of the transaction were not disclosed.
Founded in 2006, emerging manager Craton Equity provides growth capital to venture-backed companies within the sustainability, resource efficiency and carbon-reducing technology sectors. The firm has USD241.5m in assets under management and typically invests in companies with low-capital requirement business models that generally operate independent of any tax credits and government subsidies.
“The acquisition of Craton Equity further expands our alternative asset management platform at a time when institutional investors are
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