Managers
Wakefield headquartered Prism Medical, a manufacturer and provider of specialist mobility and handling equipment, has completed the acquisition of Smirthwaite Limited for an undisclosed sum.
The deal with Smirthwaite represents the fourth acquisition completed by Prism Medical since the GBP30million MBO supported by LDC in April 2014. During LDC’s tenure, Prism Medical's staff numbers have grown by 130 people as a result of acquisitive and organic growth, with the business now employing a total of 430 people.
Prism Medical is the market leader in the provision of moving & handling solutions that enable the mobility disadvantaged to live at home
Following an initial announcement in July, JTC has formally completed its acquisition of Kleinwort Benson’s Fund Administration business, taking the company’s global headcount to over 450 staff.
Completion follows receipt of approvals from the relevant regulatory authorities and sees JTC add to its existing operations in the Channel Islands, as well as giving the company its first permanent presence in South Africa. The deal also brings JTC’s total Assets under Administration (AuA) to USD56 billion and bolsters its specific strengths in private equity, real estate and debt funds.
Nigel Le Quesne (pictured), Group CEO & Chairman, says: “The conclusion of
Markit, a provider of financial information services, is to acquire DealHub, a provider of trade processing and trading services to the foreign exchange market.
The acquisition will enable Markit to offer customers a comprehensive solution for FX across venue connectivity, trading services, trade confirmation and management, clearing and regulatory reporting. It will also expand Markit’s customer base among banks, brokers and asset managers in the FX markets.
Brad Levy (pictured), managing director and head of Markit’s Processing division, says: “DealHub is a great company and highly complementary to Markit’s growing FX processing business. This acquisition adds depth to our FX
Stearns Holdings, LLC, parent company of Stearns Lending, LLC, a leading national mortgage lender with wholesale, retail, correspondent, and strategic alliance business channels, announced today that
Funds managed by the private equity group of Blackstone are to acquire a majority stake in Stearns Holdings, parent company of Stearns Lending, a mortgage lender with wholesale, retail, correspondent, and strategic alliance business channels,the company.
This partnership with Blackstone will provide Stearns with the necessary resources to accelerate its growth and fuel its efforts to capture even greater market share. Founder Glenn Stearns will retain a significant ownership stake.
“I am extremely excited
Morgenthaler Private Equity (MPE) has recapitalised Polytek Development Corp, a manufacturer of liquid mould rubbers and casting plastics.
Customers use Polytek's proprietary chemicals to create flexible molds in order to reproduce highly-detailed, complex objects in a variety of industrial and consumer applications, including concrete casting, special effects, tooling, sculpture, and prototyping.
MPE partnered in the transaction with existing shareholders and the senior management team, including retiring President David Salisbury, who will assume the role of Chairman of the Board of Directors.
Joe Machado (pictured), Partner at MPE, says: ”We are excited to partner with Polytek and support the
Private equity firm Wellspring Capital Management has created a new flexible packaging company through the merger of portfolio companies Prolamina Corporation and newly acquired Ampac Holdings.
Financial terms have not been disclosed.
The combined company, which will be headquartered in Cincinnati, Ohio, will have a strategic geographical footprint and enhanced product offering unparalleled in the industry. Ampac's range of adhesive lamination, rotogravure printing capabilities and innovative packaging solutions is highly complementary to Prolamina's cost advantageous extrusion lamination and flexographic printing technology.
John E Morningstar, a Managing Partner of Wellspring who leads the firm's activities in the packaging sector,
11health has completed a new round of funding, raising a total of GBP775,000 from six angel investors, on top of the initial funding round of GBP500,000. This brings the total funding to over GBP1.25 million.
This round of funding enables the business to extend the management team and more effectively pursue an aggressive sales and marketing strategy in the UK and the US. It will also further establish the award-winning Ostom-i Alert as the leading medical device for bowel disease patients and develop other connected device products across the healthcare marketplace.
To support the growth strategy, 11health has appointed
European private equity firm Vitruvian Partners has acquired a majority stake in Voxbone SA, a cloud-based provider of international voice over internet protocol (VoIP) services delivering communications solutions for enterprises worldwide.
With Vitruvian’s backing, Brussels-headquartered Voxbone will look to drive its next phase of growth as it further strengthens its position as a unique player in the rapidly growing cloud communications market. The Company is the global market leader in providing geographical, mobile and toll-free numbers (Direct Inward Dialling or “DID”) and associated network capacity for enterprise customers routing and enabling the receipt of calls, messages and data communications over
Private equity firm HIG Capital has recapitalised United States Medical Supply (US MED), a direct-to-consumer mail-order medical supply business, focused on patients with chronic conditions, in partnership with management.
Headquartered in Miami, FL, US MED provides medical supplies to patients suffering from chronic conditions, including diabetes, sleep/respiratory disorders, and urological conditions who need such supplies daily. US MED is among the largest and most efficient direct-to-consumer providers of medical supplies in the nation, with a best-in-class IT, compliance, and operating platform. The Company provides a compelling value proposition to all healthcare constituents, including patients, payers, physicians, and manufacturers. US MED
A wholly-owned, indirect subsidiary of Seagate Technology is to acquire Dot Hill in an all-cash transaction valued at USD9.75 per share, or a total of approximately USD694 million on a fully-diluted equity value basis.
As Dot Hill has approximately USD49 million in cash on its balance sheet as of June 30, 2015, the transaction reflects an enterprise value of approximately USD645 million. The consideration represents a 50 per cent premium over the preceding three month stock price average.
Dot Hill’s external storage array-based systems and software products will complement and expand Seagate’s storage systems offerings and be offered as part
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