Allocations
Private equity firm Thoma Bravo has acquired Trader Corporation, a Canada-based digital automotive marketplace and software solutions provider, from funds advised by Apax Partners for approximately CAD1.575 billion.
The transaction, which is subject to customary closing conditions, is expected to close by the fourth quarter of 2016.
“We’re extremely impressed by Trader’s growth into the largest and most trusted digital automotive marketplace in Canada," says Holden Spaht, a managing partner at Thoma Bravo. “We look forward to partnering with Sebastian Baldwin and the entire Trader team in their commitment to innovation and accelerating the use of Trader’s current and
Permira is to sell Intelligrated, a North American-based advanced fulfilment solutions provider, to Honeywell in an all-cash transaction for USD1.5 billion.
Richard Carey, a Permira partner and co-head of the firm’s industrials sector team, says: “This was an incredibly successful partnership for Intelligrated and the Permira funds and we are proud of all that the Company has achieved. This investment is a prime example of our strategy to identify growth themes – here, the need for supply chain solutions to support the tremendous growth of e-commerce and home delivery – find the right companies and then work closely with management
Global infrastructure deal activity slowed in the second quarter, with just 225 deals concluded, down on the 339 transactions seen in Q1, according to the Preqin Q2 2016 infrastructure deals update.
However, this downtick is not reflected in the total deal value, with the USD72 billion announced in Q2 approaching the USD89 billion seen in the previous quarter.
In comparison to Q2 2015, when 215 deals were concluded for a total of USD53 billion, the number of deals remains similar; but the increased level of capital invested by infrastructure fund managers this quarter points to the rising valuations of
BGF (Business Growth Fund) is participating in a GBP55m fundraising round alongside new senior debt facilities of GBP20 million to support the acquisition of Tax Computer Systems by AIM-listed Eco City Vehicle (AIM: ECV) for an enterprise value of GBP73 million.
BGF is providing a GBP10 million structured investment to support the long-term growth of the combined group, alongside funding from a consortium of institutional investors led by technology merchant bank MXC Capital, who originated the deal, and additional debt facilities.
TCS is the supplier of corporate tax software, Alphatax, and provides associated support and professional services to large
Funds affiliated with Bain Capital Private Equity and Vista Equity Partners have completed the acquisition of insurance technology specialist Vertafore.
With over 45 years of industry expertise, more than 500,000 insurance professionals currently use Vertafore technology every day across each point of the insurance value chain.
Leading products in the company’s portfolio include the Vertafore Agency Platform, AMS360 and Sagitta management systems, ImageRight, and Sircon agency and carrier solutions.
“Today is a significant day for our employees and our customers, and this partnership will help us continue to enhance our product portfolio and invest in our technology solutions
Consolidated Precision Products (CPP) has completed its acquisition of two casting facilities from Pratt & Whitney Rzeszów, a business unit of Pratt & Whitney Canada that is a subsidiary of United Technologies Corporation.
Terms of the transaction have not been disclosed.
The two casting facilities, located in Rzeszow, Poland, specialise in aerospace engine components, with enhanced technology for manufacturing and cost-efficient processes. CPP will continue to produce the current products and plans to further expand the customer and product portfolio in the coming years.
Warburg Pincus has made numerous investments in high growth Polish companies, including INEA (the
Private equity firm OpenGate Capital has completed the acquisition of Alfatherm – just nine days after signing a definitive agreement with Emerald and PM & Partners, the shareholders and current debt holders for the acquisition.
Terms of the transaction have not been disclosed.
Alfatherm will benefit from OpenGate Capital’s operational experience in the European PVC market that have been developed through the firm’s pre-fund investments.
Under OpenGate’s stewardship, several initiatives will be implemented to leverage Alfatherm’s market position while improving upon the operations and manufacturing processes of the business.
Andrew Nikou, founder, managing partner and CEO at
Updata Partners has closed its new growth equity investment fund, Updata Partners V, with commitments of USD280 million – over its original target of USD225 million.
The fund will invest in software and software-driven companies that have achieved initial operating scale and are at an inflection point in their growth.
The fundraising is Updata’s largest to date, bringing the firm’s cumulative committed capital since inception to more than USD750 million.
“This new fund is a milestone in our history and a positive endorsement of our growth equity strategy and results,” says Carter Griffin, general partner. “We are grateful
European fund manager STAR Capital Partners has acquired Synergy Health Managed Services Limited – the operator of the UK Linen Management Services (LMS) business – for GBP50 million.
This is the first acquisition made by STAR’s third fund (STAR III).
The LMS business of Synergy Health Managed Services Limited, a wholly owned indirect subsidiary of STERIS plc, was created in 1996 and provides a range of sterile linen and laundry management services to hospitals and other healthcare providers throughout the UK including NHS trusts, private hospitals, ambulance trusts and healthcare and community trusts. The purchased company owns three dedicated
Vincent Mortier (pictured), Deputy CIO, Global Head of Multi-Asset Amundi and Pascal Blanqué, CIO, Global Head of Institutional Division Amundi have issued a joint statement on the situation post Brexit.
They write that a few days after the surprise vote in the UK, uncertainty remains high and that they believe it won’t ease anytime soon given the complexity of the subjects to be dealt with.
“However, we have some clear perspectives during this time of uncertainty. Firstly: this is a political crisis, not a financial one. We are not in a revival of 2007/2008. Secondly, there will certainly be
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