Managers
Mid-Atlantic Dental Service Holdings, operating as Mid-Atlantic Dental Partners, has secured commitments for up to USD12.5 million in growth equity led by SC Goldman and Company.
Since the company’s launch in March of 2016, Mid-Atlantic Dental Partners has performed significantly ahead of its business plan, with eight existing offices, and seven new offices in the process of closing. The additional equity will be used to expand their successful model into the South Jersey, Baltimore, and DC suburbs.
“Our unique partnership model, where selling dentists retain a portion of the ownership of the company and build personal wealth over time,
Mishcon de Reya’s Corporate department has advised Sompo Japan Nipponkoa Insurance, a subsidiary of Sompo Holdings, on the sale of its specialist UK insurance subsidiary Sompo Canopius to private equity firm Centerbridge Partners for USD952 million.
The sale is subject to regulatory approval and is expected to close in the first quarter of 2018.
Sompo Holdings is one of Japan’s three largest property and casualty insurers and an increasingly active overseas dealmaker. The disposal of Canopius is part of Sompo’s wider strategic plan, returning cash to provide increased flexibility for its growth ambitions while also creating a secure future for Canopius.
Mourant Ozannes has advised CTBC Bank Co on certain senior loan facilities in connection with the USD800 million acquisition of Tricor Holdings Limited, a provider of integrated corporate services, by Trivium Investment Limited (Trivium).
Trivium is ultimately controlled by global private equity firm, Permira.
Completion of the transaction was subject to the satisfaction of certain regulatory closing conditions, which required Mourant Ozannes to also advise with respect to detailed provisions of the BVI regulatory regime.
Lead Mourant Ozannes Partner, Simon Lawrenson, says: “This was a complex transaction and an excellent example of the strength of our global banking
Orrick has advised Atomico, the venture capital firm founded by Skype co-founder Niklas Zennström, on their investment in the USD90 million Series B financing of Lilium.
Founded in 2015, Lilium is a Bavarian developer of the world’s first fully electric vertical take-off and landing jet.
The financing was led by Tencent and also included LGT and Obvious Ventures. It brings Lilium’s total capital raised to more than USD100 million. Atomico previously invested USD10 million in Lilium’s Series A financing in December 2016.
Lilium will use the financing for the development of the five-seat Lilium Jet that will fly
Private investment firm Littlejohn & Co has agreed to sell Newgistics, a provider of technology-enabled parcel logistics to the e-commerce and direct-to-consumer retail industry, to Pitney Bowes (PBI) for approximately USD475 million.
Since being acquired by Littlejohn in 2013, Newgistics has undergone a period of tremendous growth, including: greater than 50 per cent increases in both revenue and EBITDA; substantial investments in software development, new product launches, automation and overall expansion of the network; developing international capabilities, now the Company’s fastest growing segment of business; successfully implementing management succession plan and making key hires in marketing and fulfilment; and fully
Global alternative asset manager The Carlyle Group (NASDAQ:CG) is to acquire French insurance software vendor Prima Solutions, in partnership with its management team.
The transaction is expected to close on 30 September, 2017, subject to approval from the relevant authorities. Carlyle Europe Technology Partners III, a EUR657 million Carlyle fund focused on European technology, media and telecommunications (TMT) companies, will make the investment. Financial terms are not disclosed.
Prima Solutions is a French software vendor that designs, develops and markets software exclusively for insurance providers. Founded in 2000 by Hugues Delannoy, co-founder of the Assurland.com insurance comparison website, Prima
Global performance improvement solutions provider GP Strategies Corporation has acquired certain assets and the business of CLS Performance Solutions Limited (CLS), an independent provider of Enterprise Resource Planning (ERP) end user adoption and training services in the United Kingdom.
CLS will operate as part of GP Strategies’ Performance Readiness Solutions group effective September 1, 2017. This acquisition will extend GP Strategies’ ability to deliver ERP systems training and user adoption services in the United Kingdom and throughout Europe.
Deborah Ung, Executive Vice President of GP Strategies’ Performance Readiness Solutions group, says: “We have a long history of partnering with CLS
Funds managed by Foresight Group have provided a GBP40 million secured loan note facility for Reward Finance Group Limited.
Leeds headquartered Reward is an independent lender which provides secured loans to UK-based SMEs seeking more flexible finance, more promptly than mainstream lenders can deliver. Reward’s bespoke funding solutions take multiple assets as security, enabling the Company to provide short to medium term loans or invoice discounting facilities to support companies in a variety of different situations.
Founded in 2011 by the joint managing directors Tom Flannery and David Jones, Reward has delivered year on year growth in its loan
UK mid-market private equity firm LDC has backed multi-disciplinary engineering consultancy Patrick Parsons with a multi-million-pound development capital investment to support the firm’s UK expansion strategy together with the acquisition of infrastructure engineering specialist THDA.
Headquartered in Newcastle, Patrick Parsons has more than 250 specialist engineers and provides design services across civil, structural, geo-environmental and M&E disciplines to blue-chip clients in the residential, commercial and infrastructure sectors.
Some of the firm’s most notable projects include consulting on restoration works at Durham Cathedral and developing the world’s first modular flat packed white water course in Glasgow.
Under the leadership
The alternative assets industry reached a record size as of the end of 2016, according to the latest performance analysis data released by Preqin examining assets under management, horizon returns, public market equivalents and top performing funds.
Hedge funds saw their assets hit a record USD3.25 trillion, despite net investor outflows through the year. Private capital funds, meanwhile, increased their assets by over 7 per cent, from USD4.27 trillion as of the end of 2015 to USD4.59 trillion 12 months later. Private equity funds represent the largest proportion at USD2.58 trillion, followed by real estate (USD785 billion), private debt (USD605
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