Deals
Clearlake Capital-backed TEAM Technologies, a growth-oriented North American engineering solutions and specialty manufacturer serving healthcare end markets, has acquired iiMED Medical Solutions (iiMED) from affiliates of ACON Investments.
Financial terms of the transaction have not been disclosed.
The transaction represents the eighth transaction completed by TEAM since 2012 and the fourth acquisition since Clearlake invested in TEAM in 2018.
United Fintech, a London-based financial technology investor and holding company, has completed a 25 per cent minority investment in buy-side Portfolio/Order Management System vendor Athena Systems.
Mizuho Americas is to acquire Capstone Partners, an independent, middle-market placement agent focused on fundraising and advisory services to private equity, credit, real assets, and infrastructure investment firms.
Financial terms of the transaction, which is expected to close in the first half of 2022, subject to regulatory approvals, have not been disclosed.
Capstone was named “Best Placement Agent” by Private Equity Wire in 2021, following a year when its clients held closes totalling more than USD10 billion in fund commitments.
Viridi Parente (Viridi), a specialist in developing safe, resilient, point-of-use battery storage technology, has raised USD94.695 million in a Series C funding round led by existing investor B Thomas Golisano.
New investors include Ashtead Group/Sunbelt Rentals, a specialist in the equipment rental industry providing a highly diversified offering of equipment and solutions that service a broad customer base with more than 1,025 locations supporting a rental fleet of USD11 billion, and National Grid Partners, the investment arm of National Grid, one of the world’s largest investor-owned energy companies.
This round of funding, values Viridi, post-money, at USD700 million.
Private equity firm TruArc Partners’ portfolio company AI Fire, a specialist in fire protection and safety services, has completed four acquisitions.
AI Fire partnered with the TruArc team in March 2021. With TruArc’s support, AI Fire has accelerated a buy-and-build strategy designed to fuel the company’s growth and expand its geographic footprint to service national, regional, and local customers all under one umbrella.
AI Fire has acquired the following companies since the partnership with TruArc in March: Blackstone Fire Control and FESS Fire Protection which established a new regional footprint in the Carolinas, TEC Control Systems which increased density in
project44, a supply chain visibility platform, has secured received an investment totalling USD420 million from a syndicate led by Thoma Bravo, TPG, and Goldman Sachs Asset Management (Goldman Sachs).
Emergence Capital, Insight Partners, Chicago Ventures, Generation Investment Management, Sapphire and Sozo Ventures also participated acquiring equity interests resulting in a project44 pre-money valuation of USD2.2 billion.
Also Sixth Street committed to make available additional funding, in support of the company’s strategic acquisition programme and product development activities.
When combined with its USD202 million equity raise in May of 2021, project44 has set a funding record for Logistics Tech enterprise SaaS
The Helper Bees, a full-service insurtech company that creates innovative ageing-in-place solutions for both payers and insureds, has secured USD12.8 million in a Series B funding round led by Trust Ventures, with additional support from Silverton Partners, Northwestern Mutual Future Ventures, Impact Engine, and Congress Avenue Ventures.
Eurazeo has made a USD75 million minority investment in Jaanuu, Inc (Jaanuu), a direct-to-consumer designer and manufacturer of premium, performance-oriented medical apparel and accessories.
Jaanuu is one of the fastest growing brands in the multi-billion dollar medical apparel market as a result of its innovative designs which deliver maximum functionality and comfort. Eurazeo’s investment brings Jaanuu’s total capital raised since its founding to approximately USD100 million.
Eurazeo’s partnership with Jaanuu will support brand marketing investments to build awareness and drive trial, as well as continued investment in product innovation.
The Riverside Company, a global private investor focused on the smaller end of the middle market, has invested in Mainstream Electric, Heating, Cooling and Plumbing (Mainstream), a provider of residential HVAC installation and repair, plumbing, electrical, excavation and drain services in the Greater Spokane, Washington, and Coeur d’Alene, Idaho, markets.
This is an add-on investment to Riverside’s platform, Radiant Plumbing and Air Conditioning, a provider of essential, maintenance-focused home services.
This is Radiant’s third add-on, acquiring Schmidt Mechanical Group, in July and Done Services Group, in October 2021.
Recykal, a B2B marketplace for waste and provider of cloud-based solutions to facilitate transparent and traceable material flows in waste, has raised USD22 million in funding by investment funds managed by Morgan Stanley India.
Existing investors Circulate Capital, Vellayan Subbiah, and Arun Venkatachalam from the Murugappa Family also participated in this round.
This is the second institutional fundraise by the company following a USD4 million round in 2020.
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