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The Rise Fund, the global impact investing platform of alternative investment firm TPG, is to invest USD200 million in Airtel Mobile Commerce BV (AMC BV), a wholly owned subsidiary of Airtel Africa.
AMC BV is currently the holding company for several of Airtel Africa’s mobile money operations; and is now intended to own and operate the mobile money businesses across all of Airtel Africa’s fourteen operating countries.
The Transaction values Airtel Africa’s mobile money business at USD2.65 billion on a cash and debt free basis. The Rise Fund will hold a minority stake in AMC BV upon completion of the
- 18/03/2021
The Riverside Company, a private equity firm focused on the smaller end of the middle market, has signed a definitive agreement with Vista Equity Partners (Vista) to sell ARCOS, a specialist in resource management software for utilities, airlines and other critical infrastructure industries.
The proposed transaction is expected to close in the second quarter of this year, subject to the satisfaction of customary closing conditions.
Since 2005, ARCOS’ technology has helped hundreds of the largest utilities and airlines manage their crews and resources, especially in unplanned scenarios where resources are needed on short notice.
“We are proud of the work
- 18/03/2021
- 18/03/2021
Oncology data and informatics platform M2GEN has secured a significant new investment by Clayton, Dubilier & Rice (CD&R) funds, the Merck Global Health Innovation Fund (Merck GHI), and McKesson Ventures. The financial terms of the transaction have not been disclosed.
Merck GHI and McKesson Ventures invested alongside CD&R funds, collectively now the company’s largest shareholder. Existing shareholders Moffitt Cancer Center, Hearst Healthcare, and The Ohio State University Foundation continue to hold a significant minority interest M2GEN. Proceeds from the transaction are expected to accelerate growth of M2GEN’s consented, linked clinical and genomic data asset and advance the technology and informatics
- 18/03/2021
Global investment bank GCA Altium has appointed two experienced professionals, Sabial Hanif and Luke Pedley, as Vice Presidents in its Midlands M&A team.
Based in Birmingham, the team has grown consistently since the office opened in January 2020 and now numbers seven dedicated M&A professionals in the region.
Hanif has been appointed as Vice President at GCA Altium and brings a wealth of experience in business services and technology, including marketing services, live events and the social media agency sector. He joins GCA Altium from the Deloitte M&A team in the Midlands. Hanif is also a qualified accountant and
- 18/03/2021
New State Capital Partners (New State) and its portfolio company, Mako Steel, have made a majority investment in Rabco Enterprises LLC, a full-service provider of self-storage building systems based in Winter Garden, Florida.
Together, Mako and Rabco will form a nationwide self-storage solutions company. Terms of the transaction have not been disclosed.
The Rabco executive team will retain a stake in the combined operation. Mako Steel CEO Caesar Wright will become CEO of the combined entity, and Emmett Buster Owens III, president of Rabco, will continue with the combined company. Ron Raboud and Larry Cox, owners of Rabco, will
- 18/03/2021
Resurgens Technology Partners, a software-focused private equity firm, has made a strategic investment in Pennsylvania-based EnergyCAP, Inc.
EnergyCAP’s solution, which includes its industry-leading software and complementary services, is used by more than 2,100 organisations across government, education and commercial sectors to streamline utility bill accounting and energy management.
For decades, EnergyCAP has empowered organisations to derive value from their energy information. The company’s award-winning EnergyCAP software is at the core of each implementation and delivers the functionality that energy, sustainability and facility managers need to meet energy conservation goals, improve their organisation’s bottom line and protect the environment. A market
- 18/03/2021
There has been some improvement on gender diversity in private equity and venture capital, but considerable progress is required on ethnicity, a new report has found.
The survey report, produced by the British Venture Capital and Private Equity Association (BVCA) and Level 20, builds on the 2018 ‘Women in Private Equity’ report and highlights data from across the industry including, for the first time, on ethnicity. The report also expands on data published by Diversity VC in 2019 in the ‘Diversity in UK Venture Capital’ report.
The data collected on gender indicates the overall proportion of women in the industry
- 18/03/2021
TA Associates, a specialist global growth private equity firm, has appointed Andrew Lowry as a Vice President in its Boston office and as a member of the firm’s Strategic Resource Group.
“We are very pleased to welcome Andrew to TA,” says Kevin Masse, a Managing Director and Chief Portfolio Officer at TA who leads the firm’s Strategic Resource Group. “Andrew brings to the firm what we believe to be an ideal skill set to further our efforts as active, constructive and value-add partners with management teams. We look forward to his collaboration with our portfolio company management teams to help
- 17/03/2021
Quantuma has appointed a new director, Valentina Vitali, to its corporate finance team.
Vitali’s appointment follows a significantly active period for Quantuma and the wider K3 Capital Group’s corporate finance teams. This includes Quantuma’s team completing eight transactions in the last fortnight, at a combined value of over GBP130 million, and KBS being named the UK’s most active M&A adviser across multiple regions across the UK in the Experian MarketIQ UK and Ireland M&A review.
Prior to joining the firm, Vitali was an associate director at Grant Thornton, focusing on private equity transactions and origination. In this role, she was
- 17/03/2021
Nyobolt, the original founder of ultra-fast charging niobium-based battery technology, has appointed Bernstein Asia analyst, Mark Newman as Chief Commercial Officer and Head of Strategy.
Newman will be responsible for developing Nyobolt’s commercial partnerships in sectors that will benefit from the record-breaking ultrafast charging and high-power of Nyobolt’s technology such as automotive, energy storage, consumer devices, and industrial equipment.
Newman previously spent 11 years as Managing Director and Senior Analyst covering technology at Bernstein, where his research was focused on batteries, electric vehicles and semiconductors. During this time, he was lead author of numerous Bernstein Blackbooks including “The
- 17/03/2021
- 17/03/2021
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