Allocations
Middle-market private equity firm One Equity Partners is to sell East Balt Bakeries (East Balt), a global supplier of premium buns and artisanal rolls to major restaurant chains, to Grupo Bimbo for USD650 million.
The transaction is expected to close in the second half of 2017, subject to customary closing conditions and regulatory approvals.
Headquartered in Chicago, East Balt employs 2,200 workers who produce 13 million specialty bread products each day, including bagels, biscuits, buns, English muffins, tortillas and bread. Founded in 1955 as a single bakery with one delivery truck, East Balt now operates 21 bakeries in 11
TickSmith, a specialist in big data applications for capital markets, has announced a strategic investment of CAD2 million from Illuminate Financial Management, a venture capital firm with a specific focus on capital markets financial technology, to further commercialise its flagship product, TickVault.
TickSmith addresses a growing need of exchanges, banks and buy-side institutions in capital markets: exploring and unlocking value from constantly growing volumes and ever-increasing sources of financially relevant data. TickSmith powers the data distribution platform of CME Group, enabling the exchange to monetise its historical data. The National Bank of Canada is also amongst its global client base.
With Q2 closed out, new data shows public pension plans in the United States are increasingly favouring exposure to real assets and private equity strategies.
Of new investment commitments announced by US public pension plans in Q2 2017 and tracked by eVestment’s Public Plan IQ solution, 85 were for real asset strategies and 68 were for private equity. These were far-and-away the most popular new commitments announced in Q2 2017.
By comparison, private debt strategies saw 29 new commitments from public pension plans in Q2, equity strategies saw 28 new commitments in the quarter and fixed-income, hedge-fund and multi-asset
Receipt Bank, a bookkeeping automation platform, has raised USD50 million in Series B funding from Insight Venture Partners. The investment will be used to accelerate the growth of the company and to further develop its products.
The group passed USD10 million ARR (Annual Recurring Revenue) in 2016 and continues to grow at more than 100 per cent every year.
Receipt Bank has been revolutionising bookkeeping for small business since its launch in 2011. Working with the leading accountants and bookkeepers around the world, it was the first software company to automate the collection and data extraction of receipts and
Canadian private equity company Novacap has closed its latest private equity fund, Novacap TMT V at its hard cap with total commitments of USD840 million. The Fund surpassed its target size by 40 per cent, driven by strong demand from new and existing investors.
“We are delighted by the support we have received from our existing long-term investors and welcome several new international investors to the Fund,” says Pascal Tremblay, President and Managing Partner of Novacap TMT. “The closing of the Fund comes at a period of significant activity for Novacap, both in terms of new investments and add-on acquisitions. TMT
Apposite Capital, the private equity firm with an exclusive focus on healthcare, has acquired Swanton Care & Community Ltd (Swanton), a provider of residential and supported living care for adults with complex learning disabilities, mental health disorders and acquired brain injuries.
Apposite plans to further grow and develop the business through investment in both organic growth and acquisitions. Financial terms of the transaction are not disclosed.
Established in 2006, Swanton operates 24 specialist residential care homes, providing 259 registered beds across East Anglia, The West Midlands and South West Wales, the North East and Scotland. Swanton also provides a
Abacus Group, a provider of managed IT solutions and infrastructure to the financial services industry, has secured a minority growth investment from WestView Capital Partners, a Boston-based private equity firm focused on middle market growth companies.
Abacus will continue to be majority-owned and operated by the Company’s senior management team.
Chris Grandi, co-founder and CEO of Abacus, says the company added 51 new clients in the first half of 2017 and continues to grow at a rapid pace. Founded in 2008, Abacus has established a large presence in the alternative investment management segment of the financial services industry, with
Boyne Capital Partners has partnered with management to acquire AmeriBest Home Care, a homecare company serving the senior and disabled communities throughout Pennsylvania.
Omar Khanataev, CEO, will continue to lead the Company’s daily operations. The AmeriBest transaction represents the most recent platform investment in BCM Fund I. Boyne Capital is dedicated to investing in the lower middle market sector, specifically companies with revenues of less than USD100 million and with EBITDA of USD2 million to USD10 million.
According to the Boyne Managing Partner, Derek McDowell: “We are very pleased to partner with Omar Khanataev and the team at AmeriBest
Cleary Gottlieb is assisting Alpha Private Equity in the disposal of a significant shareholding in Caffitaly, a company active in the manufacturing and marketing of coffee capsules and coffee machines, to Compagnie Nationale à Portefeuille (CNP), at the end of an auction procedure.
The transaction, which was announced on 14 July and is subject to clearance by the competent antitrust authorities, contemplates the reinvestment by Alpha funds and Caffitaly’s founder, Sergio Zappella, alongside CNP.
The Cleary Gottlieb team assisting Alpha comprises Roberto Casati, Gerolamo da Passano, Cristina Dionisio, Mattia Paglierini, Gianluca Atzori and Caterina Marchionni on corporate aspects and
Finstar Financial Group will invest USD150 million into new financial technology startups over the next five years, Oleg Boyko, the Chairman of Finstar, has confirmed. The money will also be used for research and development (R&D) within the Group’s portfolio companies.
Global investment in financial technology startups increased to USD12.7 billion last year, according to the CB Insights Global Fintech Report 2016. Finstar is at the vanguard of this swift growth, with its global presence and wealth of experience in the sector. The pledge to invest USD150 million into fintech startups and in-house R&D is part of the Group’s wider
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