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Europe’s private equity industry has continued to rebound following disruption caused by the pandemic, completing 741 buyouts cumulatively valued at EUR141.5 billion in 2021, according to provisional full-year data from CMBOR, the Centre for Private Equity and MBO Research.
Deal volume is broadly consistent with previous years, barring the understandable dip in 2020, whilst deal value reached its highest level since 2007, signalling Europe’s upswing as markets began to stabilise.
Private equity activity in the UK market in 2021 reached levels not seen since before the global financial crisis. At GBP45.8 billion, the cumulative value of the 235 buyouts of
Symplr, a specialist in enterprise healthcare operations including governance, risk management, and compliance (GRC) software-as-a-service (SaaS) solutions, backed by Clearlake Capital Group, and Charlesbank Capital Partners has raised new capital via a Clearlake-managed dedicated fund, Icon Partners V (Icon V).
In addition to broadening symplr’s investor base, the transaction provides new and follow-on capital at a significantly larger scale to support the Company’s accelerated organic growth and acquisition strategy.
Terms of the transaction have not been disclosed.
The funding from the dedicated Clearlake investment vehicle provides symplr with access to approximately USD1.6 billion in equity capital, including rollover from
Audax Private Debt, the debt financing unit of Audax Group, an alternative investment manager specialising in investments in North American middle market companies, has appointed Bradley Patton as a Managing Director to oversee its Capital Markets for the Private Debt Origination platform.
Based in New York, Patton will be responsible for leading capital markets and syndication efforts across the Audax Private Debt platform, including unitranche and junior debt investments. He will also continue to expand and cultivate Audax Private Debt relationships across the middle market.
Octopus Investments, part of Octopus Group, has appointed Jennifer Ockwell as Head of Institutional.
Ockwell will be responsible for co-ordinating Octopus’ global institutional strategy as it continues to expand its offering to institutional investors.
Based in London, Ockwell will lead Octopus’ institutional funds distribution team, strengthening its engagement with new and existing investors across pension funds, insurers, sovereign wealth funds and family offices in regions that include the UK, Europe, Asia, United States and the Middle East. She will report into Jonathan Digges, Octopus’ Chief Investment Officer.
Octopus currently manages GBP3.4 billion on behalf of institutional investors, representing
Voting is now underway for the Private Equity Wire European Awards 2022, which will recognise excellence among private equity fund managers and service providers in Europe across a wide range of categories.
Voting for the awards is conducted via an online poll of the entire Private Equity Wire userbase, with participants asked to make their choice from a shortlist of firms in each category.
The pre-selection data for the fund manager awards was provided by Bloomberg.
The GP manager categories cover fund performance and fundraising success by firms across a range of private markets investment strategies – including buyout, growth,
Smile Doctors, a US-based, orthodontics-focused dental support organization (OSO), has secured a strategic investment from Thomas H Lee Partners (THL), a private equity firm investing in growth companies.
THL is investing alongside existing financial sponsor Linden Capital Partners (Linden) in an equal partnership, while affiliated orthodontists will retain a significant ownership stake in the organisation.
Banyan Capital Partners (Banyan), a Canadian middle market private equity firm, has invested in Innovative Surface Solutions (Innovative), a distributor of liquid surface solutions in North America.
Innovative marks the inaugural investment through Banyan Committed Capital LP, an evergreen investment vehicle that has recently closed its first USD216 million tranche of commitments.
Banyan is partnering with the Company’s CEO and existing majority owner, Greg Baun, who has served in this role since 1994, to help facilitate Innovative’s next phase of growth. Greg will remain in the role of CEO post-close and retain a significant ownership stake in the Company.
Castlight Health, a healthcare data and navigation company, and Vera Whole Health (Vera), a specialist in advanced primary caremajority owned by Clayton, Dubilier & Rice (CD&R), are to merge.
The transaction, which has been unanimously approved by Castlight’s Board of Directors, is valued at an equity value of approximately USD370 million and will be structured as an all cash tender offer to acquire all outstanding shares of Castlight. Under the terms of the agreement, Vera will commence a tender offer to acquire all outstanding shares of Castlight Class A common stock and Class B common stock for USD2.05 in cash
Brackendale Consulting Ltd, a global private equity marketing, communications and design agency, has promoted Laura Shelley, previously PR & Marketing Director, to company COO and appointed Param Barodia as PR & Marketing Associate.
In her role as COO, Shelley will support Brackendale’s CEO Fay Margo in the day-to-day running of the business, enhancing administrative and operational procedures as well as overseeing staff management. She remains an active member of Brackendale’s PR and Marketing team.
Barodia previously worked as Content Marketing Lead at start-up marketing firm blazon, where he worked with early-stage businesses to establish their brand and identity with
Advancing Eyecare, a provider of ophthalmic instruments and a portfolio company of Atlantic Street Capital (ASC), has acquired Santinelli International, a provider of optical finishing equipment.
Advancing Eyecare is currently comprised of Lombart Instrument, Marco Ophthalmic, INNOVA Medical, S4Optik, Santinelli International and other leading brands. Founded in 1973, Santinelli International is the leading provider of lens edging equipment in the United States. The combined scope of Advancing Eyecare offers the broadest product portfolio, the most knowledgeable people, and the most reliable service in the industry.
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