Deals
MMC Ventures has led an GBP850,000 investment round in home-swapping website Love Home Swap.
Love Home Swap (www.LoveHomeSwap.com) is an international holiday home exchange website founded by UK serial entrepreneur Debbie Wosskow. Love Home Swap launched in October 2011 to provide members with the opportunity to swap their homes for stylish and unique residences across 70 countries. Users are invited to sign up for membership, with the company generating revenue through member subscriptions. In addition to a home swap service, premium membership offers access to a dedicated travel team, personal concierge, travel guides and other benefits.
Love Home Swap has just agreed its
Saugatuck Capital Company has made an investment in Tulip Molded Plastics Corporation. Saugatuck teamed with management to acquire the assets of the Molded Products Division from Tulip Corporation in a leveraged buyout. Saugatuck provided equity capital through its investment vehicle Saugatuck Capital Company VII LLC which, along with management, owns 100% of Tulip.
First Niagara Bank provided the senior debt financing and Ironwood Capital and Harbert Mezzanine Partners provided the mezzanine financing as well as an equity investment.
Founded in 1982, Saugatuck Capital Company is a long-established private investment firm committed to leveraged recapitalisations, buyouts and growth equity investments in
HelloWallet, a provider of personalised financial guidance, has secured USD12 million in Series B funding. Chicago-based Morningstar invested USD6.75 million and DC-based TD Fund (TDF) invested USD4 million. Existing investors and new investors also participated in the round.
Morningstar is a leading provider of investment research, reaching more than 20 million workers with its retirement advisory services. HelloWallet offers personalised financial guidance to employees of Fortune 1000 companies. Initially, Morningstar and HelloWallet plan to co-market their services to employers and 401(k) providers and in the future expect to further integrate their services.
This investment and new agreement with Morningstar comes
Foreign companies acquired majority stakes in 131 Indian companies during 2011, registering a 30% rise in such transactions as compared to the previous year, according to a study by Venture Intelligence, a research service focused on Private Equity and M&A transaction activity in India.
Of these Inbounds deals, there were 65 deals with an announced value of USD9.99 billion. In comparison, 2010 had witnessed a total of 101 inbound deals, of which, there were 50 transactions with announced values totaling almost USD8.4 billion.
The largest inbound M&A deal by value announced during 2011 was Vodafone’s March 2011 buyout of the
Rutland Partners, the specialist turnaround and restructuring investor, is selling Attends Healthcare Group to Domtar Corporation for an enterprise value of EUR180 million. The transaction is conditional only on customary regulatory clearances and is expected to complete in late February.
Rutland acquired Attends, a European leader in branded and own label incontinence products, from 3i in July 2007 for EUR93.5 million and has invested over EUR25 million in support of management’s plan to restructure operations and develop the product portfolio. Products are manufactured in Aneby, Sweden and supplied across Northern and Western Europe through a mix of reimbursement, retail and contract channels.
The
Carey Olsen and Heritage International Fund Managers Limited (HIFM) have acted for Better Capital Limited, an existing Guernsey closed-ended fund listed on the London Stock Exchange (LSE), on its conversion into a protected cell company (PCC) with the interests of the existing listed fund forming the 2009 cell, and the launch of its second cell, the 2012 cell.
The 2012 cell has raised GBP169.9m of new money to invest in Better Capital’s second fund, Better Capital Fund II (“Fund II”). The new money was raised under a placing and an open offer to existing shareholders. Like the 2009 cell, the
SEA Medical Systems, a healthtech company focused on safety and management of IV medicine, has closed a USD3 million Series B investment with Chicago-based venture capital firm JK&B Capital, which specialises in investments in Information Technologies, healthcare and communication markets.
As part of the agreement, Chairman of JK&B Capital David Kronfeld, and Quantum Technology Partners’ Barry Dickman joined SEA Medical’s board of directors. Proceeds from this investment will allow SEA Medical to accelerate development of its IV products and expand its technology into additional medical applications.
"Thousands of people are killed or seriously injured in US hospitals each year when
SquareTrade, the independent consumer warranty provider, has secured a USD238 million growth equity investment led by affiliates of Bain Capital. Other financial terms of the private transaction have not been disclosed.
“We are very excited to partner with SquareTrade, which is disrupting a USD20+ billion global industry with its innovative approach to warranties.” says Mike Krupka, a Managing Director of Bain Capital Ventures.
“We were attracted by the incredibly high satisfaction levels among consumers and retailers, along with the vision of co-founders Steve Abernethy and Ahmed Khaishgi, and their ability to execute the plan to build the first great brand
Channel Islands law firm Carey Olsen has advised Colfax UK Holdings Limited on its acquisition of Charter International plc through a Jersey scheme of arrangement. This deal is believed to be the largest transaction of its kind in Jersey with an estimated value of USD2.426 billion in cash and stock (approximately GBP1.528 billion) which is based on the closing price of GBP23.04 per Colfax share on 9 September, 2011.
Colfax UK Holdings Limited is a subsidiary of Colfax Corporation, a US-based international industrial group listed on the New York Stock Exchange.
A Carey Olsen cross practice team was instructed by,
GenNx360 Capital Partners (GenNx360) has formed GenNx360 India Advisors Private Limited. The new entity will operate out of two offices located in Gurgaon and Bangalore, India.
“This entity in India is the next logical step in our growth strategy of building a world-class, global organisation," says Jim Shepard, Managing Partner. "India has become one of the most vibrant and important finance and services hubs in the world. Our goal is to take advantage of the rich talent base in both financial and operating skills in India."
GenNx360 launched in 2006, and during GenNx360’s accelerated build-out of its team, Genpact has been
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