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By A Paris – Following a year of high exuberance, the market for special purpose acquisition companies (SPACs) has slowed since peaking in mid-February 2021. Now, with the US Securities and Exchange Commission (SEC) changing accounting rules and vowing to keep a close eye on the market, the momentum behind these vehicles has reduced. But despite the market cooling off, the space remains attractive as the increased scrutiny can lead to better quality structures with more robust due diligence on behalf of sponsors, to the benefit of the investors.
“Since the beginning of 2020, SPACs have raised a collective USD167 billion in
Graphic Packaging Holding Company, (Graphic Packaging), a vertically-integrated provider of sustainable fibre-based consumer packaging solutions, is to acquire AR Packaging Group AB (AR Packaging), Europe’s second largest producer of fibre-based consumer packaging, from CVC Capital Partners Fund VI for approximately USD1.45 billion in cash, subject to customary adjustments.
The combination enhances Graphic Packaging’s global scale, innovation capabilities, and value proposition for customers throughout Europe and bordering regions. With a broad set of industry-leading packaging solutions, design expertise, and expanded geographic reach, the combined company will be uniquely positioned to capture continued organic growth opportunities across existing and new global customers
Genstar Capital, a private equity firm focused on investments in targeted segments of the financial services, healthcare, industrials, and software industries, is to acquire a majority ownership stake in Vector Solutions (Vector), a provider of industry-focused software solutions for training, risk management, workforce management and operational readiness.
Genstar is acquiring Vector from Golden Gate Capital, a leading private equity investment firm, which will remain a significant shareholder in the business. The transaction is expected to close in the next 45 days.
Vector is the leading provider of intelligent and industry-focused SaaS solutions that connect information and technology to deliver
Guru Capital is to acquire substantially all the assets of UK based Fintech company Oval Money Ltd, which will be acquired by and integrated into the UK based online CFD Broker ETX Capital, a Guru Capital portfolio company.
In addition, Guru Capital is in the process of negotiating the acquisition by an associated fund of 100 per cent of the shares of Oval Money Ltd’s Spanish regulated investment firm subsidiary, Oval Marketplace AV, SL.
These acquisitions support ETX’s and Oval’s shared mission of making a wide range of financial services and products accessible and affordable to everyone. The combination
International law firm RPC has advised Optio Group – a speciality insurance MGA – on its acquisition of nuclear risk specialist Northcourt.
Northcourt – which launched in 2010 – is licensed to underwrite nuclear property and liability risks globally and has clients in Europe, Russia, China, South Africa and Canada, and elsewhere across the world. The executive management team and staff will all remain with the business.
RPC Partner James Mee led the RPC team on behalf of Optio. “We were very pleased to be asked to support on what is a strategically very significant deal for Optio,” he says.
Rarebreed Veterinary Partners (Rarebreed), a technology-enabled veterinary services platform, has closed a new round of financing, led by existing investors Halle Capital Management and Trilantic North America, both leading private equity firms.
The investment will be used to support Rarebreed’s continued growth through the acquisition of additional veterinary hospitals and enhancements to the services it provides to the healthcare teams within its network.
Rarebreed partners with veterinary clinics to deliver best-in-class tools and solutions that enable employees to focus on providing the highest quality patient care. Established in 2018, the Company currently employs 800 people across 33 clinics in
MasterClass, a streaming platform that makes it possible for anyone to ‘learn from the best’, has raised USD225 million in a Series F funding round, led by Fidelity Management & Research Company and with participation from new investors including Baillie Gifford, Balyasny Asset Management and Eldridge together with existing investors IVP, Javelin, NEA and Owl Ventures.
The Series F financing follows a USD100 million Series E round that MasterClass closed a year ago, bringing its total funding to date to more than USD475 million. The latest capital will further advance the company’s strategic initiatives including:
Increased content production: Over the
Handshake, an early career network, has secured USD80 million in a venture financing round and is set to invest a tranche of the funding in the UK, supporting early careers recovery post-Covid.
The new funding round increases Handshake’s investment total to USD235.5 million and the company’s valuation to more than USD1.5 billion. This new investment reflects Handshake’s unprecedented growth, unparalleled student adoption, and a rapidly expanding market opportunity to help employers and universities embrace the virtual future of graduate recruitment.
This Series E round was led by Lightspeed Venture Partners and Spark Capital with participation from all prior investors:
Medtech start-up Gelmetix, the developer of a first-in-class polymer treatment for chronic lower back pain, has closed a successful GBP5 million Series C equity financing round.
PEWire Live kicked off its CFO/COO Summit on Wednesday, where a roster of industry experts spanning the private equity space looked at how the last twelve months have impacted GPs from an operational perspective.
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