Deals
Mid market private equity firm MidOcean Partners (MidOcean) has sold its majority investment in The Planet Group (Planet), one of the world’s leading diversified professional services organisations.
Planet will be merging with ProPharma Group (ProPharma), a portfolio company of Odyssey Investment Partners. Financial terms of the transaction were not disclosed.
MidOcean invested in Planet in January 2018, and since that time, Planet has grown significantly, entered new markets, and executed accretive acquisitions that drove strong financial and operational performance. Under MidOcean’s stewardship, Planet successfully acquired and integrated IT Works Recruitment, Interactive Business Systems, NDA Partners, and WinterWyman among other strategic
Varagon Capital Partners (Varagon) is serving as Administrative Agent, Joint Lead Arranger and Joint Bookrunner on a senior secured credit facility to support the acquisition of Sila Heating & Air Conditioning (Sila) by investment funds managed by Morgan Stanley Capital Partners (MSCP).
Sila Heating & Air Conditioning, Inc was founded in 1989 and is headquartered in King of Prussia, PA.
Sila provides a wide range of HVAC services in the North-eastern and Mid-Atlantic United States, servicing customers from New Hampshire to Virginia, including replacement, service, and maintenance, as well as plumbing and water treatment services.
Palamon Capital Partners (Palamon) has partnered with the management team of IDH Group (IDH) to enter into a binding share purchase agreement to acquire The Carlyle Group’s (Carlyle) shareholding and the shares held by the other minority shareholders in the Company to become the sole equity sponsor.
The transaction is expected to complete in the third quarter of 2021 following receipt of the necessary regulatory approvals and will be accompanied by a full refinancing of the Company’s third-party borrowings.
Palamon has been a long-term investor in IDH, having originally acquired the business in 2011 in partnership with Carlyle. The transaction
The Pro’s Closet, a destination for certified pre-owned bikes, e-bikes, and components, has closed a USD40 million Series B funding round led by The Chernin Group with participation from existing investors Foundry Group, Edison Partners, and Ridgeline.
This funding announcement follows 2021 Q1 sales that doubled from 2020. The Pro’s Closet’s revenue has more than quintupled, and the company expects to double in size again in 2021
This new round of investment will cement The Pro’s Closet’s position as the only scaled marketplace that works with every bike brand in the world. The funds will also allow
VTB Capital has led a USD250 million investment round in IVI, a Russian online cinema and streaming service, and is now one of the company’s largest shareholders.
The funds raised will be used to further expand the company’s content offer and production, as well as the further development of its advanced IVI technology platform and marketing efforts.
Yuri Soloviev, First Deputy President and Chairman of the VTB Management Board, says: “Our country has the largest Internet user base in Europe, which is why digital transformation and the transition of businesses to being online creates huge opportunities for dynamic companies
EQT Ventures has led a EUR5 million seed funding round into Vev – a visual editor for content creators to build and launch interactive websites.
Twenty20 Capital has signed an agreement with Bidvest Noonan to sell the Cordant Services group of brands.
An affiliate of private investment firm Sun European Partners is to sell Dreams to Tempur Sealy International (TPX), a global manufacturer of mattresses and bedding products.
Founded in 1985 and based in High Wycombe, Dreams is the leading bed and mattress specialist in the UK. The Company sells 11,500 mattresses, bases and headboards per week in the UK through its store network of over 200 sites and online. Dreams was acquired by an affiliate of Sun European in 2013.
Mike Logue, CEO of Dreams, says: “Our partnership with the Sun European team has been a great success, and today
Funds advised by SK Capital Partners (SK Capital), a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, have acquired Canadian coatings company Canlak Inc, and US-based Valentus Specialty Chemicals.
SK Capital plans to merge the two businesses to form a single North American wood coatings company called Canlak Coatings, which will be headquartered in North Brunswick, New Jersey.
“The combined Company will offer a comprehensive portfolio of wood coatings products to serve the sports, commercial and residential flooring, cabinet and furniture manufacturing sectors,” says Mario Toukan, a Managing Director of SK Capital. “We see tremendous opportunity
Nordic Capital has sold its remaining shares in Nordnet, a pan-Nordic digital savings and investments platform.
Under Nordic Capital’s ownership, and in close partnership with the founding Öhman Group, Nordnet underwent significant transformative change and now offers a best-in-class customer experience in the digital savings industry with sustainable growth potential.
In November 2020, Nordnet was successfully listed on Nasdaq Stockholm at an equity value of approximately SEK24 billion. The successful listing and subsequent strong share price performance reflect the strength of Nordnet’s business and its fast growth; the result of significant improvements implemented during Nordic Capital’s ownership. On 26 May
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