Allocations
Kohlberg Kravis Roberts has completed its acquisition of all of the outstanding shares of Gardner Denver for approximately USD3.9bn, including the assumption of debt.
Timothy W Sullivan has been appointed as president and chief executive officer of Gardner Denver, effective immediately. Michael M Larsen has transitioned to the role of interim vice president and chief financial officer, effective immediately.
Pete Stavros (pictured), member of KKR and head of the firm’s Industrials investment team, says: “We are excited about taking this next step in the evolution of Gardner Denver. We would like to thank Michael for his leadership through the
Funds affiliated with Apollo Global Management have signed a definitive agreement under which Apollo will acquire Pitney Bowes Management Services (PBMS) for approximately USD400m in cash.
The transaction, which is subject to customary closing conditions, is expected to close in the fourth quarter of 2013. Until then, Pitney Bowes will continue to operate PBMS.
“This transaction represents a tremendous opportunity for both Pitney Bowes and PBMS,” says Marc Lautenbach (pictured), president and chief executive, Pitney Bowes. “It is part of our continued evolution into a company better aligned to address the needs of clients while focusing on the
L’ArcoBaleno has secured a seven-figure financing round from a group of international investors.
L’ArcoBaleno is positioned to lead the luxury design industry by bringing a curated marketplace of intriguing and valuable furniture, lighting, crafts and decorative arts direct to consumers.
Since its launch in June, consumers around the world are acquiring collectible material at L’ArcoBaleno including objects ranging in price up to USD40,000.
Led by venture capital firm Holtzbrinck Ventures L’ArcoBaleno’s latest funding round also includes DN Capital, Otto Capital BV and Novel TMT Ventures. Individual investors Carmen Busquets, Frederic Court and Christophe Maire have all contributed
Activa Capital and Bpifrance have signed agreements with the managers of Nexeya and several financial shareholders relating to the acquisition of a majority block representing 57.9 per cent of total capital and 58.7 per cent of voting rights for EUR12.00 per share.
Nexeya is an industrial group which operates mainly in the defence, aeronautics and transportation sectors.
The transaction, to which the main managers and founders of Nexeya are fully associated, aims at providing the company with a new reference shareholder to support the implementation of its development strategy.
As part of the transaction, Activa Capital and Bpifrance
RoundTable Healthcare Partners, an operating-oriented private equity firm focused exclusively on the healthcare industry, has completed the acquisition of Santa Cruz Nutritionals (SCN) from Levine Leichtman Capital Partners.
SCN, founded in 1968, is a manufacturer of gummy vitamin, mineral, supplement (VMS) and other nutraceutical products in the US. Financial terms of the transaction were not disclosed.
Lester Knight, a founding partner and co-chairman of RoundTable, will serve as chairman of the board of Santa Cruz. Mike Westhusing, chief executive officer, and Randy Bridges, chief financial officer and chief operating officer, will continue to lead the company’s management team and
SigmaCare has secured new equity funding from healthcare investment firm Marlin Equity Partners and existing investors.
SigmaCare provides clinical software to the long-term and post-acute care market enabling providers to improve quality of care and financial results by driving down costs, increasing revenue and reducing risk and re-hospitalisations.
"The funding from Marlin Equity Partners will allow SigmaCare to expand our nationwide presence, accelerate product innovation and strengthen interoperability initiatives," says Steve Pacicco, chief executive of SigmaCare. "Marlin’s broad resources and expertise make them the right partner to help SigmaCare address the rapidly changing needs of our customers and
Green Innovations has settled over USD2.6m in trade payables, removing these obligations from its balance sheet, in exchange for the issuance of shares of its common stock to Ironridge Consumer Co, an institutional investor specialising in direct equity investments in consumer product companies.
As a result of the transaction, Green Hygienics, a wholly-owned subsidiary of Green Innovations, has turned strategic payables on the balance sheet into equity. In addition to significantly strengthening the balance sheet, the transaction will enable the company to focus on increasing sales and its ongoing efforts to develop high-quality eco-friendly products made from sustainable and
Venture capital fund manager Mercia Fund Management (MFM) has invested GBP150,000 in Oxford Genetics Ltd.
The new biotechnology company is behind SnapFast – a system that simplifies the purchase of synthetic DNA molecules (plasmids).
Dr Ryan Cawood, chief executive of Oxford Genetics, invented the SnapFast system and likens it to “Lego for DNA”.
Historically, most genetic engineering has been performed by combining pieces of DNA, gathered from a variety of sources that were never intended to fit together. This can make clinical research and drug development time-consuming, costly and often frustrating. Oxford Genetics provides all of the
A fifth portfolio company of life sciences venture capital firm Domain Associates has received funding under its investment agreement with Russian state investment corporation Rusnano.
ReVision Optics, a Southern California-based firm developing Raindrop, an inlay for presbyopic vision correction in Phase III trials, has raised USD55m in a financing in which Domain, Rusnano subsidiary RusnanoMedInvest and other investors participated.
A year ago Domain and Rusnano announced a USD760m partnership whereby Rusnano agreed to invest along with Domain and Domain portfolio investor syndicates. In addition, the partnership fosters transfer of technology into Russia and establishes manufacturing facilities in Russia
Venture capital investment into European companies experienced a quarter over quarter increase, while exits for European venture-backed companies improved on Q1 2013.
However, during the first half of 2013, initial public offering (IPO) and merger and acquisition (M&A) activity declined in contrast to the same period in 2012.
A total of 12 European venture capital funds accumulated EUR890m in Q2 2013, an increase of 17 per cent in amount raised from the prior quarter albeit with a 14 per cent drop in the number of funds.
In contrast with Q2 2012, the number of funds fell by
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