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Following the announcement of an exclusivity agreement in January 2022, global private equity firm Astorg has completed its investment in ARMOR-IIMAK, an ARMOR Group company, via its newly launched Mid-Cap fund.
Hubert de Boisredon and ARMOR-IIMAK’s Management team remain the majority shareholders with Astorg owning a 40% stake in the business.
Headquartered in Nantes, France, ARMOR-IIMAK, is a specialist in thermal transfer ribbons, which are inked films used as consumables for the thermal transfer printing industry.
This transaction marks the second investment made by Astorg’s Mid-Cap fund.
Varagon Capital Partners is serving as Administrative Agent, Joint Lead Arranger and Joint Bookrunner on a senior secured credit facility to support CapVest Partners’ acquisition of Second Nature Brands.
Headquartered in Detroit, MI, Second Nature Brands is a leading creator of snacks and treats that make lives better, naturally. Under its growing family of brands, Kar’s Nuts®, Second Nature Snacks®, and Sanders Chocolates®, Second Nature Brands has an extensive distribution network across the United States and a growing direct-to-consumer eCommerce presence.
TPG Growth has acquired a stake in private equity firm Granite Creek Capital’s portfolio company, Morrow Sodali, a global shareholder engagement and governance advisory firm.
TPG Growth is the middle market and growth equity platform of global asset management firm TPG.
As part of the transaction, Granite Creek continues to hold a minority ownership position in Morrow Sodali, and Granite Creek’s Co-Founder and Partner, Mark Radzik, was named to the Board of Directors. Since 2018, Granite Creek has worked closely with Morrow Sodali’s leadership team to expand its operational, strategic, and capital resources. Over that time, Morrow Sodali substantially increased
Affiliates of Stellus Capital Management (Stellus), a specialist in lower middle market direct lending, have provided senior debt financing and an equity co-investment in support of Abry Partners’ (Abry) investment in Inoapps.
Squire Patton Boggs has expanded its global Private Equity Practice in Europe with the appointment of Corporate partner Sara Belotti who joins the firm’s Milan office from Baker McKenzie.
Belotti’s arrival follows that of private equity lawyers Anthony Guillaume, who has joined the firm in Paris, and Teresa Zueco and a six-lawyer team who arrived in Madrid last November, and four new partners in London over the past 12 months.
With a practice focused on M&A, private equity and capital markets, Belotti has a successful track record in cross-border and multi-jurisdictional transactions, advising a range of Italian and global
PrimeSource Brands (PrimeSource), a North American provider of specialty branded residential building products backed by Clearlake Capital Group (Clearlake), has acquired Axxis, a provider of fastening tools and collated fasteners.
The transaction is PrimeSource’s fourth acquisition during Clearlake’s ownership.
Financial terms of the deal have not been disclosed.
Axxis, which goes to market under the Complete and KlinchPak brands, primarily serves STAFDA distribution and packaging houses. The combination with Axxis further enhance PrimeSource’s portfolio of branded fasteners and related fastening tools. Carl Schneider, CEO of Axxis, will remain involved as part of the PrimeSource team focused on accelerating Axxis’
Capital Dynamics, an independent global private asset management firm, has held the final close of Capital Dynamics Future Essentials II (Future Essentials II) with EUR300 million in commitments.
The fund is managed by a multinational investment team in North America, Europe and Asia and invests in high quality, limited access private equity primary funds, particularly mid-market buyout and growth capital funds, with additional allocation to co-investments and secondary transactions. This second-time fund significantly surpassed the size of its predecessor fund, which closed in January 2019.
Future Essentials II has already made substantial commitments through its access to propriety
Puma Private Equity has exited its stake in global digital wellbeing platform Tictrac, returning a 2x money multiple and 38% internal rate of return on its investment after just two years.
The overall transaction is valued at up to £35 million.
The exit has been realised following a bid by Dialogue Health Technologies Inc (Dialogue), Canada’s premier virtual healthcare and wellness platform, and is the largest acquisition in their history.
Tictrac’s software and services provide information for businesses to take better care of their employees’ health and wellbeing, and the business has amassed an impressive global client list,
Palatine-backed Construction Testing Solutions (CTS), a provider of construction consulting and testing services, has made a further strategic acquisition as it continues its drive to become an industry leading provider of services to the construction sector.
The acquisition of GT Certification is the seventh acquisition since Palatine’s investment in CTS in 2018 and follows a refinancing in late 2021.
GT Certification with headquarters in Tipton, West Midlands, employs 39 staff and operates across the UK. It is a well-established construction materials and torque and force calibration business, providing a variety of solutions to developers, construction contractors, specialist industrial flooring companies,
FISCAL Technologies, a provider of supplier risk intelligence solutions, has secured second-round follow-on funding from Octopus Ventures, and Calculus Capital.
FISCAL Technologies software, NXG Forensics, uses the latest AI and forensics to prevent fraud and provide a unique view of supplier risk. The platform is used by 300 organisations around the world to protect over £400 billion of annual spend. The additional capital provided by Octopus and Calculus will be focussed on building out the platform’s range of modular SaaS applications, with a particular focus on increasing regulatory risks such as sanctions and ESG monitoring.
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