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More than two-thirds (67 per cent) of private equity professionals expect to achieve higher returns this year than in 2020, with just 3 per cent expecting lower returns, according to Investec’s annual GP Trends survey.
The research, which analyses the views of 219 private equity professionals around the world, reveals an industry upbeat as we emerge from the pandemic, eager to deploy capital and sanguine about the threat of SPACs.
When the pandemic struck last year, GPs made significant downward adjustments to their return expectations.
This year, optimism has flooded back, with the overwhelming majority (97 per cent)
Genstar Capital-backed Obsidian Insurance Holdings, an AM Best rated “A-” hybrid fronting group, has acquired admitted carrier, Western Home Insurance Company (Western Home), from Western National Mutual Insurance Company (Western National).
The acquisition supports the company’s strategic growth plans and together with Obsidian’s existing admitted carrier, Obsidian Insurance Company, Western Home will provide Obsidian’s current and existing program managers access to countrywide admitted insurance capabilities, including the sizeable California marketplace. Obsidian also offers countrywide E&S capabilities through its surplus lines carrier, Obsidian Specialty Insurance Company. Prior to closing, all remaining liabilities were assumed by Western National, an AM Best rated
LoanPro, a SaaS-based loan management, servicing and collections platform for alternative, fintech and traditional lenders, has raised a USD100 million growth equity investment from FTV Capital, a sector-focused growth equity investor in innovative enterprise technology and services, financial services, and payments and transaction processing companies.
Through this capital raise, LoanPro will enhance its platform functionality, enter new lending verticals, and further invest in client-centric growth initiatives.
LoanPro was founded in 2014 by three brothers, Rhett, Ben and Lloyd Roberts, who developed the software after finding there were no lending applications that met the needs of their own lending business.
Behrman Capital (Behrman), a private equity investment firm based in New York, has acquired Shur-Co, a manufacturer of cargo covering and cargo control systems and related accessories for the transportation industry. Financial terms of the transaction have not been disclosed.
Headquartered in Yankton, South Dakota, Shur-Co has served its customers for more than 60 years. The Company operates four manufacturing facilities and six service centers across the US, Canada, and the UK, which provide proximity to key customers, channels, and markets. This footprint is complemented by an expansive dealer and sales rep network.
The Company represents a portfolio of
Aliante Partners, an Italian buyout investor, has completed a preferred equity transaction for the investment vehicle Aliante Equity 3.
Pomona Capital was the sole investor in the transaction that included a liquidity option provided to shareholders in the vehicle and a second preferred equity line for add-on acquisitions in the portfolio companies held by Aliante Equity 3.
Aliante Equity 3 invests in mid-market companies operating in the ‘Made in Italy’ sectors known for their quality and excellence, such as Food & Beverage and Design & Furniture, with a strong focus on buy & build to create value through consolidation
Abry Partners, a Boston-based private equity firm, and Hoplon Capital, an asset manager focused on digital disruption of end markets including insurance, have acquired Concentrix Corporation’s (NASDAQ: CNXC) insurance third-party administration and software platform.
Lincoln Road Global Management (Lincoln Road), a private equity firm focused on lower middle-market companies, and Peninsula Capital Partners (Peninsula Capital), a private equity firm focused on providing customised subordinated debt and equity solutions, have sold Republic Fire Protection (Republic Fire), a full-service provider of fire safety and protection services.
Financial terms of the private transaction have not been disclosed.
Republic Fire provides a wide range of fire extinguishers, emergency lighting, alarm, industrial fire suppression, sprinkler and exit lighting products, sales, inspection and related services throughout the Southeastern US Under Peninsula Capital’s and Lincoln Road’s ownership, the Company strengthened its
Graphite Capital, a UK mid-market private equity specialist, has agreed to sell U-POL, a manufacturer and distributor of automotive repair and refinishing products, to Axalta Coating Systems.
Headquartered in Philadelphia, United States, Axalta is a global manufacturer and distributor of coatings and the leader in the premium automotive refinish segment.
The transaction values U-POL at GBP428 million, generating a total return of 4.5 times Graphite’s investment. The transaction is subject to competition authority clearances and is expected to complete in the second half of 2021.
Graphite led the GBP139 million buy-out of U-POL in 2010. Graphite has made
Genstar Capital (Genstar), a private equity firm focused on investments in targeted segments of the financial services, healthcare, industrials, and software industries, is to acquire a majority stake in Foreside Financial Group (Foreside), from Lovell Minnick Partners (LMP).
Foreside provides a robust offering of distribution solutions and governance, risk management and compliance (GRC) solutions to clients in the global asset and wealth management industries.
Established in 2005 and based in Portland, Maine, Foreside has quickly grown to become a US market leader in the investment management industry, and enjoys an excellent reputation as a best-in-class service provider across its distribution
Northern Gritstone, a new investment company founded by the Universities of Leeds, Manchester and Sheffield (the Founding Universities) to facilitate the commercialisation of university science and technology related Intellectual Property (IP) in the north of England, has appointed Lord Jim O’Neill as Non-Executive Chairman and Duncan Johnson as Chief Executive Officer.
O’Neill will become Non-Executive Chairman and will assume key responsibilities helping to establish the exciting future for Northern Gritstone. Jim has been immersed in many matters related to the Northern Powerhouse in recent years, having Chaired the Cities Growth Commission in 2013-14, and going on to help the government
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