Managers
Healthcare-focused private equity firm Shore Capital Partners has sold Fast Pace Urgent Care, a provider of urgent care services throughout rural Tennessee and Kentucky, to Revelstoke Capital Partners.
In December 2012, Shore Capital partnered with Fast Pace founders, Stan Bevis and Reams Powers, to help grow their initial seven urgent care locations.
Shore Capital and Fast Pace together executed an accelerated growth plan and expanded the business from seven to 36 clinics in approximately three and a half years.
The growth came primarily through de novo expansion as the company opened 26 new locations and acquired three locations.
The Latin American Private Equity & Venture Capital Association (LAVCA) has launched the LAVCA venture investors content platform, with breaking deals, investor perspectives, research and curated news from the Latin American venture ecosystem.
Venture investors have deployed over USD2.1 billion in Latin America since 2011, increasing deal activity year-on-year, according to LAVCA’s Latin America Venture Capital Five-Year Trends report.
Even in the context of Brazil’s economic downturn, venture capital investors deployed record levels of capital in the country in 2015, with USD594 million invested across 182 deals. Outside of Brazil, Mexico is the second most active VC market in
Eric Sprott has agreed to acquire 30 million common shares of Redstar Gold in part through a private placement of up to 41 million shares at CAD0.10.
Redstar Gold has filed for the financing, which is a non-brokered equity private placement.
The financing will be composed of two tranches. The first tranche of 20.4 million shares at CAD0.10 is expected to close this week. In the second tranche, the company will issue up to 20.6 million shares at CAD0.10, or CAD2.06 million. The full financing is expected to close on, or before, 31 August 2016. Upon final and full closing
Private equity firm Thoma Bravo has completed its acquisition of visual analytics software specialist Qlik.
Under the terms of the merger agreement, Qlik shareholders are entitled to receive USD30.50 in cash for each share of Qlik common stock they hold.
The transaction was announced on 2 June 2016 and received approval from Qlik shareholders on 17 August 2016. As a result of the completion of the acquisition, shares of Qlik common stock were removed from listing on The Nasdaq Stock Market, with trading in Qlik shares suspended prior to the opening of business today.
Morgan Stanley served as
Platinum Equity has signed a definitive agreement to acquire the Foam Plastic Solutions (FPS) and Flow Control Devices (FCD) businesses of Broadway Industrial Group.
FPS is a supplier of protective packaging, insulation and component products to the consumer electronics, automotive, medical and other end-markets.
FCD supplies high-performance parts such as valves, fittings, sensors, and related components used in diverse end-applications.
Platinum Equity is a Los Angeles-based global private equity firm focused on acquiring businesses that can benefit from the firm's operational expertise. The proposed acquisition was led by Platinum Equity's Singapore office.
Jacob Kotzubei, the partner in
Kelso & Company has acquired Physicians Endoscopy (PE) in a recapitalisation transaction with management, from Pamlico Capital.
Terms of the transaction have not been disclosed.
Founded in 1998, PE is a developer, owner, and manager of endoscopic surgery centres across the US. The company currently owns and manages 42 facilities in partnership with over 300 gastroenterologists and 18 health systems.
Pamlico acquired PE, in partnership with management, in August 2013 and has supported the company over the past three years. Under this new partnership with Kelso, Pamlico will be exiting its investment in PE.
Barry Tanner, PE’s
Octopus Investments has launched Octopus Labs, a new fintech business which is developing technology-enabled financial solutions for the mainstream.
Octopus labs will be involved in ‘self-building’ some solutions and will support others through its fintech accelerator programme, with applications now open.
Octopus believes that for many, the world of finance – and financial products – remains complex, inaccessible and confusing. While the past few years have witnessed a fintech revolution in the UK, most of the innovations that have sprung up remain unfamiliar and unpalatable to both financial advisers and retail investors.
Octopus Labs aims to tackle these twin
Commercial law firm Noerr has advised consultancy firm Persicon on its takeover by PwC Deutschland.
Persicon was founded in Berlin in 2003 and, as a certified IT security provider for the government and officially accredited data protection inspection authority, is the leading German consulting firm in data and IT security.
PwC will take over the subsidiaries Persicon Consultancy and Persicon Cert in the planned transaction.
The takeover will enable PwC to expand its IT advice and offer its know-how in the fields of governance, risk management and compliance on a joint basis with Persicon.
Persicon advises more
An affiliate of alternative investment platform FAB Partners is to acquire US private debt investment manager CIFC for approximately USD333 million in cash.
Under the terms of the merger agreement, CIFC shareholders will be entitled to receive USD11.46 in cash per share – USD11.36 per share as consideration in the merger, plus a USD0.10 per share distribution detailed below.
This represents a premium of more than 60 per cent over CIFC's closing share price on 19 August and a premium of approximately 160 per cent over the 27 January 2016 closing share price, the day prior to CIFC's announcement
Affiliates of Siris Capital Group have completed the acquisition of Xura, a provider of digital communications services, in a transaction valued at approximately USD643 million.
The deal, which was initially announced on 23 May, was approved by a majority of Xura's shareholders on 16 August.
In connection with the closing of the transaction, the company, which will continue to operate as Xura Inc, will be wholly owned by affiliates of Siris Capital.
Xura aims to revolutionise the way the world communicates, accelerating its development of digital communications solutions for CSPs that will transform future engagement experiences across all
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