Allocations
Private equity firm Clessidra SGR is to acquire an 80 per cent stake in L&S Group, a specialist in the interior lighting sector, with a particular focus on the furniture industry.
Founded in 1977 in Maron di Brugnera (PN), home of the largest furniture district in Italy, L&S manufactures and distributes lighting solutions and embedded LED systems for residential, industrial and retail applications. A solid expansion strategy developed overtime has led L&S to operate in over 70 countries worldwide, with four manufacturing facilities in Italy, Germany, China, and the United States, and over 400 employees, recording total revenues of approximately
HIG WhiteHorse, a credit affiliate of private equity firm HIG Capital, has arranged a EUR60 million Senior Secured Loan for Grupo Hospitalario Recoletas (Recoletas).
Recoletas is a family-owned Spanish hospital group headquartered in Valladolid, Spain. It focuses on the private healthcare market, and operates 7 hospitals and several clinics. The company works with all local insurance companies (c.90% revenues), and maintains a dominant position in Castilla and Leon.
HIG WhiteHorse has provided a flexible financing structure which replaces the company’s existing debt facility and provides additional capital to support growth, continuing the revenue expansion already initiated.
Amando RodrÃguez, CEO at
Quantum computing software developer Riverlane has raised GBP3.25 million in seed funding, led by venture capital investors Cambridge Innovation Capital and Amadeus Capital Partners, with the participation of Cambridge Enterprise.
Riverlane is building a simulation engine for microscopic systems to replace expensive laboratory tests with computer simulation. Riverlane’s software leverages the capabilities of the quantum computer, which operates using the principles of quantum mechanics. In the same way that graphics processing units (GPUs) accelerate machine learning workloads, Riverlane uses quantum computers to accelerate the simulation of quantum systems.
The company is working with leading academics and companies on critical early
Old Mutual Private Equity (OMPE), the direct private equity investing arm of Old Mutual Alternative Investments, has acquired a majority interest in Footgear, a South African retailer of branded footwear.
The transaction was finalised on 3 June 2019 and is pending approval from the Competition Commission.
Founded in 2001, Footgear is a retailer of branded footwear with 63 stores nationwide. Footgear’s footwear offering is family orientated, catering across categories, gender and age-groups, servicing men, women and kids underpinned by high levels of customer service, in a unique shop setting delivered by an energetic and motivated staff complement. Its offering includes an array of sports performance footwear, sports-inspired lifestyle, casual and leisure
O’Melveny has advised Kayne Partners on a USD25 million minority investment in executive search firm Riviera Partners. Private equity firm ROCA Partners joined Kayne in the investment, which was announced on 4 June, 2019.
Kayne Partners is the growth equity group of Kayne Anderson Capital Advisors, a provider of capital and connections to privately held, high growth, enterprise software and tech-enabled service businesses in North America. Headquartered in Los Angeles, Kayne has invested more than USD500 million in platform investments and add-on acquisitions together across four funds.
The O’Melveny team advising Kayne Partners was led by partners David Smith and
Browne Jacobson has advised Mobeus Equity Partners on its GBP3 million capital growth investment in Parsley Box.
The investment will be used to accelerate product development, customer acquisition and recruitment in the Edinburgh based business which was established in 2017 by Adrienne and Gordon Macaulay to provide nutritionally balanced meals for the UK’s growing elderly population.
The business currently offers a choice of over 70 ambient meals and has to date completed 130,000 orders for over 75,000 customers.
Mobeus Equity is a leading lower mid-market UK private equity investor and venture capital firm, specialising in management buyouts, growth capital and
UK Private equity firm Maven Capital Partners (Maven) has invested a further GBP750,000, in car insurance platform, Honcho Markets (honcho).
The funding has been provided by Maven VCTs (GBP322,500), North East Development Capital Fund, supported by the European Regional Development Fund (GBP322,500) and the Finance Durham Fund, established by Durham County Council (GBP105,000). The follow-on investment will support the business as it enters its next phase of development to launch the product nationally, add new insurance product lines and make significant enhancements to its platform. The investment will also support the creation of 10 jobs over the next 12 months,
Inzura.ai, a UK-based global insurtech, has raised a further GBP1 million in a pre-A funding round. This follows a seed investment round in early 2018 and rapid growth in the UK and South East Asian markets.
Inzura works with brokers and insurers to deliver enhanced digital versions of their insurance products through smartphone apps, leveraging telematics, integrated dashcams and artificial intelligence (AI). With some customers already achieving over 30 per cent improvements in loss ratio, Inzura’s digital products are customer focused, cost significantly less to operate, reduce fraud, and enable greater pricing accuracy.
Inzura’s revenue growth of over 65
A total of USD2.891 billion was invested in the data and insights industry last year, either through venture capital or private equity. Market research is now receiving funding comparable to sectors such as Energy and IT Hardware, with recorded VC investment of USD1.75 billion and USD2.28 billion respectively according to PitchBook data VC investment.
The average transaction size was USD43.1 million – an increase of 63 per cent after a corresponding 69 per cent jump the year before. Of the 173 investors who invested in market research and insights in 2018, over 90 of them are completely new to the sector. There
Palamon Capital Partners (Palamon) is to sell Il Bisonte to Tokyo Stock exchange-listed fashion distribution specialist, Look Holdings (Look).
The transaction values Il Bisonte at an Enterprise Value of EUR100 million, three times the entry price paid by Palamon, producing a 26 per cent Gross IRR for Palamon European Equity III.
Palamon acquired Il Bisonte in the summer of 2015 from its founder, Wanny di Filippo, who established the business in 1970 from an artisanal workshop in Florence, Italy. Il Bisonte was one of few remaining independent luxury Italian brands focused on leather handbags and accessories, with an authentic
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