Managers
Private equity firm Thoma Bravo has acquired PowerPlan, a provider of accounting, tax and capital budgeting optimisation solutions for capital asset-intensive businesses, from current investors JMI Equity and TPG Growth.
Financial details of the deal have not been disclosed.
“PowerPlan has addressed the information gaps that develop between finance and field operations in asset-centric businesses, and established a market-leading software company that is critical to all of its customers’ operations,” says Scott Crabill, a managing partner at Thoma Bravo.
“It’s exciting to be able to put our software experience and buy and build philosophy to work for PowerPlan,” added Holden
Shore Capital Partners has completed the acquisition of Summit Medical a medical device manufacturer that has been designing, engineering and manufacturing microsurgery products for over 30 years.
In addition to its Instru-Safe instrument protection line for infection control and sterilisation in the critical care market, Summit Medical manufactures ear, nose, and throat (ENT) products and a variety of other surgical products.
A Fast 50 Honoree for 2014, Summit Medical has achieved significant growth over the last several years due to its leading position in the minimally-invasive instrument protection and ENT markets. Kevin McIntosh, President of Summit Medical, and Lorraine Duchene,
Blackstone Group’s Equity Healthcare has selected ConSova Corporation as the preferred dependent eligibility partner for its 40+ affiliated companies.
Through this agreement, ConSova joins forces with Equity Healthcare to offer a full range of health care cost containment solutions to the companies within the Blackstone Group’s global asset management portfolio as well as other affiliated private equity firms. Equity Healthcare’s companies will gain access to best-of-breed solutions for Dependent Eligibility Verification, Working Spouse Provision Audits and Ongoing Verification Services.
Equity Healthcare, a wholly owned subsidiary of The Blackstone Group, leverages the scale of the combined purchasing power of its portfolio
DMS Offshore Investment Services Ltd and White Oak Global Advisors have launched of an Alternative Investment Fund (AIF) hosted on the DMS Irish platform.
White Oak has engaged the DMS AIF platform, which is regulated by the Central Bank of Ireland as an AIFM in Ireland, and by the CSSF in Luxembourg, to access its European investors, taking advantage of the firm's established track record in fund governance and expertise in independent risk management in Europe.
Since the enactment of the Alternative Investment Fund Managers Directive (AIFMD) in 2013, DMS has developed this proprietary AIF Platform to provide investment managers
Hamburg-based shipping company Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft is to buy the container line operations of Chilean shipping line Compañía Chilena de Navegación Interoceánica (CCNI), Valparaiso.
The relevant contracts were signed last weekend. As part of the transaction, Hamburg Süd is also acquiring the agency business of Chilean firm Agunsa Agencias Universales S.A. (Agunsa), which is integral to the container line service.
The CCNI / Agunsa operations are scheduled to be transferred at the end of March 2015, subject to approval from the competition authorities.
A team from CMS in Germany led by Dr Christian von Lenthe (lead partner) and Dr Arne
2014 was one of business angel syndicate Archangels’ most active years for investment in Scottish-based early stage and established technology and life sciences businesses and provided strong levels of returns for investors.
Archangels arranged funding of GBP12.2m for 14 companies, comprising GBP7.5m of investment from Archangels’ investors, with a further GBP3.5m of co-investment from Scottish Enterprise and GBP1.2m from other partners. Archangels’ annual gathering of investors and invested companies will hear that the biggest single investment was GBP2.5m in Scottish bionic prosthetic upper limb producer, Touch Bionics, in May last year.
In 2014, Archangels also invested GBP100,000 in Cytomos,
DriverUp, the first online marketplace for automotive financing, has launched giving accredited investors an opportunity to directly enter the USD379 billion auto lending industry.
DriverUp is the exclusive brand of Sierra Auto Finance, an auto finance company launched with USD50 million Series A financing, led by Emerald Development Managers and RRE Ventures.
The DriverUp platform uses technology to fundamentally improve how loans are secured and serviced by creating a direct-to-investor option that until now has not existed within the auto-lending industry. Through DriverUp's proprietary software and advanced data analytics, the marketplace enables efficient processing and direct investment in auto loans,
Property Innovation Labs (Pi Labs), Europe's first property-focused accelerator, has announced its inaugural intake of start-up companies and the launch of a crowdfunding campaign.
Pi Labs was created in October 2014 through a strategic partnership between global real estate adviser Cushman & Wakefield and venture capitalists Spire Ventures.
Entrepreneur Faisal Butt, founder of Pi Labs, will lead the three-month bi-annual programme which will provide funding, mentors and office space for the most exciting new wave of ‘proptech’ start-ups at the iconic Second Home, situated in the heart of east London’s ‘Tech City’.
Five start-ups have joined the first accelerator programme
ContaAzul, a provider of SaaS accounting and invoicing solutions to SMBs in Brazil has raised a Series C round of financing led by existing investor venture capital firm Ribbit Capital.
Tiger Global Management also participated along with existing investors 500 Startups, Monashees Capital and Valar Ventures.
ContaAzul will use the funding to develop a new specialised platform catered for Brazilian accounting firms, which will allow customers to achieve greater integration and more productive interactions with their customers. The Company also plans to use the new capital to further develop its accounting and invoicing platform, improving integration between our customers and
Automated investing service Betterment has closed a USD60 million round of growth funding led by private equity firm Francisco Partners.
Previous investors Bessemer Venture Partners, Menlo Ventures, and Northwestern Mutual Capital alos particpated.
“Our growth has continued to accelerate,” says Jon Stein, Betterment Founder and CEO. “More people are becoming Betterment customers every day, and our existing customers continue to invest more with us. This new capital will allow us to grow even faster and increase the development of new products that will continue to reinvent investing around what customers want: a seamless, personalised experience that is aligned with their
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