Managers
MMC Ventures-backed Base79 is to be sold to Rightster Group in a GBP50 million deal.
MMC invested in Base79 co-founders, Ashley Mackenzie and Richard Mansell, from an early stage in March 2010, and since then MMC has supported the company as a shareholder and board member in their journey to become one of Europe’s leading online video companies.
MMC invested in three rounds of funding, including a growth round investment led by The Chernin Group in 2012.
The sale will see Base79 become part of a combined business that will be the fourth-biggest YouTube multi-channel network audience in
France’s cross-border mergers and acquisitions (M&A) activity is rising considerably as the corporate M&A appetite once again returns to North America and Europe, according to a study by Robert W Baird Group.
Of the USD450bn worth of M&A deals taken place so far in 2014 – the highest half year value since before the global economic downturn – France (domestic, inbound, outbound) accounted for a quarter of all this activity.
French outbound M&A value has almost doubled in the last 12 months to June 2014 (LTM 2014) compared with the previous 12 months (LTM 2013) and French inbound M&A
HgCapital’s Parts Alliance has partnered with automotive parts business Andrew Page (AP) to acquire the business’s assets of Unipart Automotive, a UK supplier of car parts and workshop consumables.
The deal, which is for an undisclosed sum, means that HgCapital’s Parts Alliance will acquire a total of 12 of the former Unipart Automotive 33 branches, with Andrew Page to acquire the remaining 21 branches, securing 350 jobs.
The Parts Alliance is a central organisation for the UK automotive parts market based in Solihull, West Midlands. It employs over 60 people on behalf of its 12 member companies, who manage
TowerPoint Capital has entered into an agreement with AllianceBernstein Private Credit Investors to facilitate its ongoing acquisition of assets and accumulate diversified portfolios in the US, Canada and Puerto Rico.
"We are thrilled with the opportunity to have AllianceBernstein as our exclusive financial partner and to have access to their significant financial and intellectual resources," says Jesse Wellner, chief executive officer of TowerPoint. "The backing of AllianceBernstein, a leading asset manager, further validates our relevance in the marketplace and underpins our growing momentum. Both TowerPoint and AllianceBernstein share common views regarding the attractiveness of the wireless infrastructure industry and are committed
ACON Equity Partners III has completed the purchase of Injured Workers Pharmacy (IWP) from Audax Group and Parthenon Capital Partners.
IWP is a specialty pharmacy serving patients in the USD8 billion workers' compensation, automobile personal injury protection and personal injury pharmacy markets in the US.
As part of this transaction, ACON partnered with Patrick Keefe and Tracy Finn, two former senior executives of Omnicare, a provider of long-term care and specialty pharmacy services.
Also joining ACON in the transaction is Triton Pacific Capital Partners, a private equity healthcare services investor.
The company will continue to be led
European mergers and acquisitions (M&A) activity has picked up substantially in 2014 and already looks set to surpass the 10-year European average for the first time since 2007, says Standard & Poor's Ratings Services.
With around USD373 billion booked in 2014, deal flow is comfortably exceeding 2013's relatively subdued totals.
"The risk aversion triggered by the financial crisis, which steered companies toward organic expansion, is beginning to fade as belief resurfaces that growth is returning," says Taron Wade, director at Standard & Poor's. "Low financing costs, the availability of debt, and the rise in acquirers' market caps are enabling
As investors gain more confidence in the global economy, the wheels of the Chinese inbound and outbound M&A industry are expected to turn continuously for the rest of 2014.
Vivian Lam, partner, corporate department at Paul Hastings, says: “The slowdown of the Chinese economy will not have a negative impact on Chinese companies going abroad. On the contrary, more state-owned and privately-owned companies will be encouraged to go offshore to find global opportunities.
“They will make the decisions from a commercial perspective rather than from a political standpoint. The industries they are interested in will be more diversified, such
Improving economic conditions in North America saw 2013 fuel the highest level of volume and values by entry enterprise value (EV) for private equity (PE) exits since 2006, according to EY’s annual North American PE exit study.
The report, Returning to safer ground: How do private equity investors create value? A study of North American exits, highlights that IPOs drove exit activity in 2013.
Increased public market demand and a return of corporate buyers meant that IPOs accounted for 61 per cent of aggregate PE entry value of exits.
The report, now in its eighth year, examines the
LogRhythm, a security intelligence company, has finalised a USD40 million round of new equity financing led by Riverwood Capital with participation by existing investors Adams Street Partners, Access Venture Partners and members of senior management, along with new investor Piper Jaffray.
The proceeds will be used to accelerate investment in product development, sales and marketing and customer service as the company further capitalises on its strong momentum.
“LogRhythm is thriving in the security intelligence market on several fronts and has accelerated growth over the last year,” says Jeff Parks, founding partner of Riverwood Capital and newest member of LogRhythm’s
Privacy Analytics has raised USD3.5 million in a round led by Vanedge Capital, a Vancouver-based venture capital fund.
Vanedge joins the BDC IT Venture Fund and the Ontario Institute for Cancer Research (OICR) as the primary investors in Privacy Analytics.
V. Paul Lee, managing partner for Vanedge, will join the company’s board of directors.
The funds will be used to increase Privacy Analytics sales and marketing efforts, as well as bolster development of its PARAT software product line.
“We are thrilled to be working with Paul and Vanedge, whose team brings deep expertise to help our company
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