Deals
Pet health and insurtech company, Bought By Many, has acquired VetBox, a UK pet health subscription and fulfilment business, in a major step in the extension of its offering beyond insurance.
The full acquisition of the business, announced today, follows an initial investment from Bought By Many in VetBox in 2020.
The acquisition of VetBox draws on investment from a USD350 million Series D funding round in June 2021 after the company gained unicorn status with a valuation of over USD2 billion through its holding company Many Group. The investment in Many Group represented one of the largest funding
Mavis Tire Express Services Corp (Mavis), an independent US-based automotive service platform backed by private equity firm BayPine and TSG Consumer Partners is to acquire Tuffy Tire & Auto Service Centers (Tuffy).
Tuffy’s CEO and President, Roger Hill, will join the leadership team of the combined company.
Terms of the transaction, which is expected to close before the end of 2021, have not been disclosed.
Private investment firm Auxo Investment Partners has acquired Ferrovia Services, a provider of railroad and Department of Transportation (DoT) vegetation management services with locations across the US.
The addition follows Auxo’s recent purchase of Genesis Rail Services, LLC, a full-service railroad maintenance company, as Auxo develops a leading, diversified platform serving the railroad maintenance and mechanical services industry.
Auxo plans to integrate Ferrovia and Genesis Rail under one platform, facilitating the cross-selling of services to improve offerings to existing customers.
Aruwa Capital Management (Aruwa), an early-stage growth equity and gender lens fund investing in Nigeria and Ghana has made an investment in CrowdForce, a financial services distribution platform serving the underserved and unbanked population in Nigeria.
In line with Aruwa’s gender lens investing strategy and from meetings held with agents and aggregators in the field, the firm observed a significant representation of women in CrowdForce’s agent network, with over 35 per cent of the Company’s agents being women, which is in line with its mandate to partner with companies who are providing economic empowerment to women.
New York-based private investment firm Aquiline Capital Partners (Aquiline) is to become a significant shareholder in VirtusLab, a software development and consulting company based in Poland. VirtusLab specialises in cloud-native, reactive systems, data science, data engineering and front-end development to enterprise customers globally.
Financial terms of the transaction, which will see existing management roll a portion of their equity stake and maintain ownership in the company, have not been disclosed. Founder and CEO, Rafal Pokrywka will continue to lead the business, along with CTO, Pawel Dolega and COO, Tomasz Orzechowski.
Solactive AG (Solactive) has acquired 100 per cent of the share capital of Global Property Research BV (GPR) from Van Lanschot Kempen NV.
PGR holds a longstanding track record in the indexing business and is a registered Benchmark Administrator under the European Benchmarks Regulation. Since its inception, in 1995, the company ranks amongst the top global index providers in property and infrastructure research and provides its services to leading financial institutions.
Investcorp, a global alternative investment firm, has RESA Power (RESA), a provider of power services that enhances the safety, reliability, and efficiency of electric power systems, from Blue Sea Capital, a growth-oriented private equity firm.
Investcorp’s partnership with RESA, which is led by Monte Roach, an industry veteran with over 30 years of experience will focus on continuing the Company’s organic growth, expanding geographically across North America, and accelerating the completion of strategic, value-creating add-on acquisitions.
Terms of the transaction have not been disclosed.
Growth-focused private equity firm Trilantic North America has spun out its energy team to form a new, independent firm called Greenbelt Capital Partners (Greenbelt).
Greenbelt will formally launch on 1 January, 2022, and will be headquartered in Austin, Texas, while maintaining an additional presence in New York. The firm, named after the outdoor recreational parkland in Austin, will be led by Chris Manning, who currently serves as one of the Managing Partners of Trilantic North America. Chris will be joined by Glenn Jacobson, Andy Hopping, Chris Murphy, Sam Graham, and the rest of the Trilantic North America energy team. Trilantic
Sentinel Capital Partners, a private equity firm that invests in promising midmarket companies, has sold portfolio company Fazoli’s Group to strategic buyer FAT Brands for an enterprise value of USD130 million.
Fazoli’s, which specialises in moderately priced Italian food favourites, including freshly prepared pasta, Submarinos sandwiches, and unlimited signature breadsticks, has nearly 220 franchised and company-owned restaurants in 28 states.
Godspeed Capital Management (Godspeed Capital), a lower middle-market Defence & Government services, solutions, and technology focused private equity firm, has made a strategic investment in Varen Technologies, a provider of cybersecurity, software, and intelligence solutions for the Defence and Intelligence Communities.
Financial terms of the transaction, which will see Varen Technologies will remain headquartered in Columbia, Maryland, and continue to be led by President & CEO Marty Leshin and the existing management team, have not been disclosed.
Godspeed Capital plans to meaningfully invest in Varen Technologies by increasing investments in technology, talent acquisition, business development, corporate infrastructure, and strategic acquisitions
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