Deals
Loss adjusting and claims management firm Cunningham Lindsey Group and a CVC Capital Partners-led investor group including Allied World Financial Services have agreed to a recapitalisation by which funds affiliated with CVC will acquire majority ownership of Cunningham Lindsey.
Founded more than 100 years ago, Cunningham Lindsey has grown organically and through acquisitions into the largest loss adjusting and claims management firm globally with a network of approximately 7,000 people operating in 61 countries.
In 2007, affiliates of Stone Point Capital acquired a majority interest in the company via a public-to-private transaction, with Fairfax Financial Holdings retaining a substantial ownership
Mexcian restaurant group Tortilla, which is backed by private equity firm Quilvest, has secured GBP2.25m in new bank financing from Santander Corporate Banking to fund expansion.
The new credit facilities will further enhance Quilvest’s original GBP3.5m investment in Tortilla in December 2011.
The financing comes as Tortilla secures three additional sites in London, Kent and Southampton and continues to pursue its expansion strategy. Including these three new openings, Tortilla will have 11 restaurants in the UK and is understood to be in discussions for several additional locations. The new London site at 460 Strand is adjacent to Trafalgar Square.
Quilvest
Middle market private equity firm The Sterling Group’s affiliated investment fund, Sterling Group Partners III, is to acquire all of the equity interests that comprise the Dexter Axle business from Tomkins Industries, a subsidiary of Pinafore Holdings.
The Dexter Axle business manufactures trailer axle, brake and suspension assemblies and related replacement parts and components.
The closing of the transaction is subject to customary conditions and is expected to occur in the last quarter of 2012.
AXA Private Equity has agreed to acquire a majority 70 per cent stake in Bruni Glass, a European provider of glass containers for spirits, food, pharmaceutical products and related accessories.
Alongside AXA Private Equity, the founding members and the management of Bruni Glass took part in the deal with a total stake of 30 per cent.
Bruni Glass, founded in 1974, has been a market leader in glass containers for wine, champagne, food and pharmaceutical products for over 35 years, with a particular expertise in speciality products, often developed to meet a customer’s specific requirements. The group is well known
Bayside Capital has completed the sale of portfolio company Environmental Filtration Technologies (EFT) to Nederman Holding.
Based in Charlotte, North Carolina, and with locations across North America, Germany, France and Australia, EFT is an industrial air filtration company. EFT offers air pollution control and air filtration equipment, including industrial dust collectors, baghouses, air and liquid filtration systems, filter bags and cartridges, as well as equipment and engineered systems for evaporation and distillation.
EFT markets its products under the globally-recognised MikroPul, Menardi, Filtex and Filter-Media, LCI and Pneumafil brands.
After investing in EFT, Bayside restructured the company’s balance sheet, narrowed its
Medical device company Mainstay Medical has completed an oversubscribed series B financing round for USD20m (EUR15.3m) led by Fountain Healthcare Partners.
Other new investors in the series B round include Medtronic, Capricorn Venture Partners and Seventure Partners. Existing series A investors Sofinnova Partners and Twin City Angels also participated.
This funding will advance the ongoing development of Mainstay Medical’s disruptive new medical device for the treatment of patients with chronic non-specific low back pain. As part of the financing, Mainstay Medical relocated its head office and executive leadership to Dublin, Ireland from Minneapolis, Minnesota US.
The World Health Organization reports
Private equity firm Riverstone has committed to invest up to USD200m in Kerogen Energy.
With offices in Houston, Texas, and Calgary, Alberta, Kerogen is focused on onshore unconventional oil and liquids exploration and production in the US and Canada.
Kerogen is led by chairman Alexander Kulpecz and president and chief executive Murray Grigg, both of whom have technical expertise and management track records specific to the exploration and development of hydrocarbons from shale oil reservoirs.
Since its formation in late 2010, the company has identified and completed the technical evaluations of proprietary liquids-rich shale plays in both the US and
RAMP has completed a series C financing led by New York-based StarVest Partners.
As part of the transaction, Deborah Farrington (pictured), co-founder and general partner at StarVest, will be joining RAMP’s board of directors.
StarVest is also joined by Hearst Interactive Media and EDBI as new investors in RAMP, along with participation from existing RAMP investors Fairhaven Capital, Accel Partners, General Catalyst Partners, and Comcast Ventures. This round brings the total capital raised to USD40m for the company.
To date, RAMP has built a leadership position in helping media companies create more value from their digital content assets, including digital
Mimecast has secured USD62.15m in series C funding led by private equity firm Insight Venture Partners, with existing investors Dawn Capital also participating.
Mimecast plans to use the funding to accelerate the development and deployment of new technology, and to support plans for rapid expansion in the US market.
Founded in the UK in 2003 by Peter Bauer (chief executive) and Neil Murray (chief technology officer), Mimecast has grown rapidly with over 50 per cent year on year revenue growth recorded in six of the past nine years. Today, the company has over 6,000 customers globally – including 70
Business Growth Fund (BGF) is investing GBP5.4m of growth capital in Swanbridge Hire and Sales (SHS), a provider of high specification industrial scaffolding services based in Barry, South Wales.
This is the fourth investment to be led by BGF’s regional team for the South West of England and South Wales; and SHS is the first business to be backed by BGF in Wales.
The investment was managed for BGF by Paul Oldham, Ned Dorbin and Alex Garfitt. SHS was introduced to BGF by Grant Thornton Corporate Finance in Cardiff.
Founded in 1998 by Paul Smith, SHS erects and dismantles large
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