M Group Services, a leading provider of services to essential infrastructure markets in the UK and Ireland, has completed the acquisition of Babcock International Group PLC’s Overhead Line Power business for GBP75 million. Babcock’s Overhead Line Power business serves clients including National Grid, Scottish Power Energy Networks and Western Power Distribution.   Following the acquisition, the business will be rebranded to form part of Morrison Energy Services, sitting alongside and enhancing existing electricity, gas and green energy capabilities, within M Group Services’ Energy division. As the latest addition to the growing number of businesses forming the Group, the overall service

Fintern, a UK credit technology platform, has secured GBP8 million of new capital in its latest funding round. The investment, which brings the Company’s total capital raised to GBP40 million and will help drive expansion plans, was led by Hambro Perks, an international investment firm focused on private investing. The investment round also included an equity investment from Fintern’s primary debt provider, Varengold Bank, and other high-net-worth individuals. Osborne Clarke LLP advised Fintern on the fundraising.  The proceeds from the investment will be used to bolster Fintern’s presence in the UK, build out its team and launch its first B2B

nThrive, a healthcare revenue cycle management (RCM) software-as-a-service (SaaS) platform provider backed by Clearlake Capital Group, is to acquire PELITAS, a provider of healthcare patient access, digital patient intake, and front-end RCM software solutions. Financial terms of the transaction have not been disclosed. The addition of PELITAS’s integrated patient access and digital patient engagement software solutions, awarded Best in KLAS for 2019, 2020 and 2022, will advance nThrive’s position as a leading software provider in front-end revenue cycle management.

Private equity firm Growthdeck has closed an oversubscribed funding round for Kelda – a specialist in water, energy, and carbon saving showers. Fundraising for the company, led by Growthdeck, amounted to GBP1.35 million exceeding its original target of GBP1.1 million by nearly 25 per cent. This is Kelda’s second fundraise with Growthdeck.

The EQT Mid Market US fund (EQT Private Equity), together with the Verdane Capital IX fund (Verdane) have agreed to sell Forsta to Press Ganey, a specialist in patient, member, employee and consumer experience across the healthcare ecosystem. Headquartered in London, UK, Forsta is a provider of customer experience and market research software and services to enterprise customers and market research professionals. Forsta provides solutions in Quantitative (including Surveys & Reporting), Qualitative (including Digital Qual & Live Video, Video Insights), and Voice of the Customer/Voice of the Employee segments, to help deliver intelligence with clarity, confidence, and impact. The company

Shopware AG (Shopware), a digital commerce software solutions provider in the DACH region, has raised USD100 million in growth capital from global investment firm, Carlyle (NASDAQ: CG), and PayPal (NASDAQ: PYPL), the global payments and commerce platform. Founders Sebastian and Stefan Hamann will retain a significant majority stake in the business and remain co-CEOs of the company. Carlyle and PayPal’s growth capital will help drive Shopware’s international expansion and the development of new products.    Equity for the transaction will be provided by Carlyle Europe Technology Partners (CETP) IV, a EUR1.35 billion fund that invests in small and mid-market technology-focused

NaaS, one of China’s leading new energy operations and technology providers, has successfully raised RMB500 million in Series A financing from Real Fund, CICC Capital, GSR United Capital, and Sino Pacific Capital. Established in 2019, NaaS is China’s leading comprehensive EV charging service platform and is servicing China’s No1 fast charger network with over 175,000 fast chargers.  NaaS also offers hardware, software, and technology services and solutions to charger operators and works with all members of the EV charging value chain. 

Modumetal, a provider of nanolamination coating technologies, has raised USD14 Million in Series A-2 funding led by Atlas Innovate and Rotor Capital. Modumetal also added two independent members to its Board of Directors: Tushar Porwal, an automotive industry leader and current Head of Manufacturing for BrightDrop, GM’s brand of electric commercial vehicles; and Robert Workman, an oil and gas industry executive and current CEO and Director of PSS Industrial Group. Modumetal will use the funding to further accelerate commercialisation of its oil and gas coating solutions, scale its operations, and expand its customer base in new key industries that include

Aleo, a leading platform for building private blockchain-based applications, has raised USD200 million in a Series B funding round led by Kora Management and SoftBank Vision Fund 2. Tiger Global, Sea Capital, Slow Ventures, Samsung Next, and Andreessen Horowitz (a16z), also participated culminating in a valuation of the company at USD1.45 billion.  Following the company’s USD28 million Series A, which was led by a16z in April of 2021, Aleo’s Series B represents the largest fundraising round ever in the zero-knowledge industry.

Clyde Munro Dental Group has been given a further GBP25 million war chest for acquisitions – after getting the green light from its biggest backer for a new funding package. Already Scotland’s biggest independent dental group, the firm will now embark on a period of further growth through acquisition, with the additional funding package from international banking and wealth management firm, Investec.   Since it was created in 2015, founder Jim Hall has steered Clyde Munro from seven practices to 54 across Scotland, with more than 200 dentists, 400 staff and 460,000 patients.   The funding package also includes an