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Cennox, a portfolio company of York Capital Management’s private equity group (York Private Equity), has acquired a group of Dutch-based companies including, Lincsafe, Merlin, Cashtester and Secusystems.
The transaction includes all staff and facilities, with Ron van Veenendaal, founder and Managing Director of the companies, joining the Cennox Operating Board.
Terms of the transaction have not been disclosed.
The number of first-time funding rounds into UK seed-stage startups remained flat in 2021, despite venture capital overall seeing another record year of funding, according to new research commissioned by SFC Capital.
The data shows a decline in funding rounds between 2018 and 2020, and only a marginal uptick in 2021, far below the growth in later-stage venture capital. SFC Capital is calling for urgent action to reinvigorate seed-stage investment and help secure the next generation of innovative businesses emerging across the UK, with SEIS at risk of becoming redundant as a funding mechanism due to startups’ growing funding needs
Garnett Station Partners (Garnett Station), a New York-based investment firm founded in 2013 by Matt Perelman and Alex Sloane that manages over $1 billion of assets, has appointed Dennis Maloney as operating partner.
Maloney will work with Garnett Station’s portfolio companies to drive innovation and enhance digital strategies.
Prior to joining Garnett Station, Maloney spent 12 years at Domino’s Pizza leading the company’s digital transformation and innovation strategies as Chief Digital Officer and most recently as SVP and Chief Innovation Officer.
Groundworks, which secured a significant growth capital investment from private equity firm Cortec Group’s Cortec Group Fund VII, in January 2020, has acquired Peak Structural (Peak).
This is the tenth deal acquisition completed by Groundwork’s since Cortec’s investment.
Terms of the transaction have not been disclosed.
Founded in 2002 by Paul and Lisa Sutton, Peak serves the single-family residential market in Denver and Colorado Springs with a suite of services including foundation repair, concrete lifting, crawlspace encapsulation, basement waterproofing and other related services.
CI Partners-backed Patriot Growth Insurance Services (Patriot) has partnered with Business Benefits Group (BBG) in Virginia, along with BBG’s subsidiary, Incisive Financial Group (IFG).
The move extends Patriot’s footprint into the important Virginia and District of Columbia marketplaces. BBG is one of the largest remaining independent insurance agencies in the region.
BBG provides employee benefits, property and casualty insurance, retirement benefits, wealth management services, human resources, compliance, and benefits technology services. BBG has experienced extraordinary organic growth over the last several years, and their investments in talent, tools and business solutions have them well-positioned to continue this impressive growth.
Sally Alayarian has been named as IQ-EQ’s new Group Chief Risk Officer.
With over 20 years of international management experience in financial services, Alayarian joins the Group after spending six years as Global Director Risk Management & Internal Audit for a multinational professional services firm based in Amsterdam. She has also operated as an independent director advising boards and regulatory bodies on the optimisation and evolution of integrated risk and control frameworks, and has held executive positions in the banking sector.
Alayarian will be based in the Netherlands and will join IQ-EQ’s Group Management Team. Her main responsibilities will include
Fintech company Outfund has closed a £115 million Series A round led by Force Over Mass, PostFinance, 1818 Venture Capital and Tribe Capital.
The finding will support Outfund’s rapid global growth as it provides a faster, fairer and more affordable way for SMEs to raise growth capital across the globe.
Founders seeking capital can apply for finance using Outfund’s simple online application. Given the proprietary technology and product, only simple checks are required to access capital and there is no need for companies to provide business plans or go through prolonged risk assessments. Businesses simply connect their revenue accounts and,
Reframe Capital, a provider of alternative investment product and capital raising solutions, has launched a new investment capability with the appointment of Ray Maxwell (through his consulting business, Priv-ity Limited) as advisory partner.
Maxwell’s extensive experience in private equity will serve to address the growing demand from asset owners to source and evaluate individual private equity and other private markets co-investment deals.
His investment career spans over four decades, and began at the Post Office Superannuation Fund where he built and led the alternative investments division in the early 1980s. In 1997, Ray joined Invesco (through the acquisition of LGT
Cooee, an AI platform that helps mobile apps boost customer retention with personalised engagement, has received £300,000 in pre-seed funding from investors including Jenson Funding Partners, the venture capital firm, as well as several angel investors from the United States, India and UK.
TA Associates, a global growth private equity firm, has appointed Vishal Gupta as a Director in its Mumbai office.
Prior to joining TA, Gupta worked at Softbank Vision Fund as an Investment Director, where he focused on technology investments within the consumer, education and financial services sectors.
Before Softbank, he was a Vice President at TPG Capital and spent time in the Investment Banking Department at Credit Suisse. Vishal earned his Bachelor of Technology in Industrial Engineering from the Indian Institute of Technology, Kharagpur, and his Post-Graduate Diploma from the Indian Institute of Management, Ahmedabad.
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