Managers
Audax Group has acquired Wheel Pros, a designer, marketer and distributor of branded aftermarket wheels, from Platinum Equity.
Headquartered in Denver, Colorado, the company also distributes performance tyres and accessories.
Geoffrey Rehnert, co-CEO of Audax Group, says: “Wheel Pros is a market leader in the automotive aftermarket industry. We look forward to partnering with Randy White, Jody Groce and the Wheel Pros team to grow the business organically and through strategic add-on acquisitions.”
Randy White, CEO of Wheel Pros, says: “We are excited to continue growing the business organically and by leveraging Audax’ expertise in identifying and integrating
M&A activity targeting the UK stood at GBP37.5bn in the first half of 2014, representing the lowest half-year value since H1 2010 (GBP37bn) and a 12.5 per cent drop from H1 2013 (GBP42.9bn), according to MergerMarket.
Only one mega-deal (valued above USD5bn) has been announced in the region so far this year – the GBP8.6bn acquisition of the Oncology division of GlaxoSmithKline by its German peer Novartis.
The lack of large transactions in the country pulled the UK M&A value down this semester.
However, the second quarter of 2014 witnessed a stark improvement compared to the previous quarter
Perfect Channel, a cloud-based enterprise auction platform, has secured growth funding of GBP2 million from Beringea, which manages the ProVen Venture Capital Trusts.
The investment will be used to build the senior management team, to launch in the US and to expand the development team.
Perfect Channel provides an end-to-end auction solution for businesses, with services across auction design, auction management and post-auction analytics. Its platform is designed for scale, managing up to 60,000 simultaneous bidders, across a variety of different verticals on a global basis.
Perfect Channel already has a strong roster of clients including Christie’s, Lloyd’s
Cloud contact centre vendor NewVoiceMedia has secured USD50m in a Series E round of funding, taking the total raised by the company over the last 18 months to USD105m.
The new investment will accelerate the company’s international expansion, develop its portfolio of cloud solutions and strengthen its infrastructure, sales, marketing and professional services capability in North America, APAC and EMEA.
New investor Technology Crossover Ventures (TCV) led the round, joined by existing shareholders Bessemer Venture Partners, Highland Capital Partners Europe, Eden Ventures, Notion Capital and salesforce.com.
NewVoiceMedia’s cloud customer contact platform integrates with Salesforce to connect organisations with
Mobile healthcare provider Vanguard Healthcare Solutions has raised GBP16.5m in a debt refinancing deal with high street bank AIB.
Vanguard Healthcare provides additional capacity through the provision of mobile surgical facilities – including operating theatres, endoscopy suites, mobile wards and clinics – to the NHS and private healthcare providers in the UK and abroad.
The company has been financially backed by MML Capital since April 2009, when it underwent a management buyout from Nuffield Health.
The refinancing of the existing senior debt and MML Capital’s mezzanine facilities will reduce the company’s cost of capital and decrease annual
KKR has acquired a majority interest in OEG Offshore Group, a provider of specialist equipment to the offshore oil and gas industry.
OEG’s executive management retain a significant holding in the company.
OEG is headquartered in Aberdeen, UK with regional hubs in the main offshore oil and gas regions including Singapore, Australia, and the US and 20 further diversified stocking locations worldwide.
OEG manufactures and leases specialist Cargo Carrying Units which are essential items used by oil and gas operators and their service providers to transport equipment and supplies to and from rigs and platforms as part of
Private equity firm GTCR’s management partnership Opus Global, led by former VeriFone chief executive Douglas Bergeron, has acquired Hiperos, a specialist in third party management.
Hiperos’ SaaS-based solutions serve the third party-related information management, risk, compliance and performance needs of Global 2000 companies such as Aetna, AXA, Bank of Montreal, CA Technologies, Charles Schwab, Microsoft, News Corporation, PNC Bank, Rockwell Automation, Sun Life Financial, State Street, TD Bank, and United Technologies.
GTCR and Opus Global – in partnership with Hiperos’ current management team – will look to accelerate the company’s strong rate of organic growth by investing in global
Agritek Holdings is to receive an estimated USD400,000 from its institutional partners and private equity fund based in Chicago this month.
The funds will be used to roll out and market the company's Mont Blunt brand of e-cigarettes and to cover initial infrastructure costs related to its agricultural greenhouse project based in Pueblo, Colorado.
"Our appearance at last week's First Annual Cannabis conference in Denver clearly raised awareness of our company and the Mont Blunt brand to the investment public and investors alike. We have already received the initial USD200,000 to our balance sheet as of last week and
Private equity firm Vector Capital has acquired IPVALUE Management from existing venture investors and other shareholders.
Financial terms of the transaction have not been disclosed.
IPVALUE, founded in 2001, is a provider of intellectual property (IP) transactional and advisory services for the world’s premier technology companies, top R&D labs, and other developers and owners of marquee intellectual property.
IPVALUE partners with these IP owners to generate revenue from under-monetised patents via licensing, as well as via patent sales or divestiture transactions when appropriate.
Rob Amen, a managing director at Vector Capital who will join IPVALUE’s board of
Private equity and alternative firms are moving down market to support the retail marketplace, according to research from analytics firm Cerulli Associates.
"Private investment managers, following in the tracks of hedge-fund-focused alternative firms and traditional long-only managers, are tapping the public markets," says Michele Giuditta, associate director at Cerulli. "Delivering illiquid private investments to the retail marketplace is challenging, as the typical buyout fund on average has a lifecycle of approximately 10 years."
Cerulli's latest annual report, Alternative Products and Strategies 2014: Identifying Opportunities in a Dynamic Investment Landscape, focuses on the US retail and institutional alternative product landscape,
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