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Providence Strategic Growth (PSG)-backed Arcoro, a provider of human resources management (HR) solutions for high-risk industries, has appointed John Herr as Chief Executive Officer. Herr, a 25-year internet technology industry veteran, most recently served as CEO of Avetta, a global cloud-based supply chain risk management and commercial marketplace platform. He will assume day-to-day leadership of Arcoro and join its Board of Directors. Herr’s appointment comes as John O’Hara retires from his role as Chief Executive Officer. O’Hara will serve in an advisory role to Herr through the end of 2020.
“I am incredibly proud of everything our team has accomplished
Clayton, Dubilier & Rice has appointed Akhil Johri, former United Technologies Corporation (UTC) Chief Financial Officer, as an Operating Advisor to CD&R funds. Johri worked for more than 30 years at UTC, serving as Executive Vice President and Chief Financial Officer of UTC from 2015 to 2019 and as Special Advisor to the Chairman and CEO from 2019 to 2020. He was also Chief Financial Officer for Pall Corporation, a publicly traded leader in filtration, separation and purification solutions. He currently serves on the boards of Boeing and Cardinal Health.
In his new role, Johri will work on a range of
The latest research from eFront, the leading financial software and solutions provider dedicated to Alternative Investments, reveals that the global private equity market showed higher resiliency and lower volatility over the first two quarters of 2020 compared with public equity markets, as firms dealt with the fallout of the coronavirus crisis.However, the under-reaction of private markets exhibited in Q1 was not followed by the performance bounce back that public markets went through in Q2.
The adverse effects of the economic slowdown lasted longer in the European private equity market than in other regions, with US and Asian funds performing more
Shamrock Environmental (Shamrodk) a portfolio company of private equity firm CenterOak Partners (CenterOak), has acquired Virginia American Industries (VAI). VAI is a regional provider of non-hazardous wastewater treatment services, operating through Centralised Wastewater Treatment (CWT) facilities in Florida and Virginia under the Aqua Clean and Reco trade names, respectively. Terms of the transaction were not disclosed.
Shamrock, which was formed in 1994 and is headquartered in Browns Summit, North Carolina, provides mission-critical, non-hazardous wastewater treatment and related industrial services to customers in diverse end markets across the Southeast US. The Company is led by CEO and shareholder Greg Kiser,
Texthelp Ltd, a specialist in literacy and accessibility technology, has secured a significant investment from Five Arrows, the private equity arm of Rothschild & Co, as LDC, the private equity arm of Lloyds Banking Group exits. Five Arrows is investing in Texthelp through its European fund (Five Arrows Principal Investments) and its US fund (Five Arrows Capital Partners). Five Arrows targets investments in category-leading B2B data and software companies across healthcare, education, and other vertical end-markets.
Founded in 1996, Texthelp has established itself as the global pioneer and leader in cloud-based assistive technology and learning analytics for the education and corporate
Foresight Group (Foresight), an independent infrastructure and private equity investment manager, has invested GBP4 million into MR Machine Knives Limited (MRMK), providing equity release and growth capital to the business. The investment and Foresight’s involvement will support founder and Managing Director Michael Bailey in the continuing growth of the business, leveraging the outstanding reputation that MRMK has built up since its inception.
MRMK is a specialist manufacturer of machine knives based in Sheffield, a city world-renowned for its stainless steel production and industrial heritage. The Company supplies a diverse range of knives for the food production and packaging industries. The Company
Odyssey Investment Partners (Odyssey) is to acquire Protective Industrial Products Inc (PIP), a global supplier of personal protective equipment (PPE) and industrial safety products, from Audax Private Equity. Financial terms of the transaction have not been disclosed.
PIP, founded in 1984, offers a broad suite of the most recognised PPE products and brands across numerous segments, including hand & arm protection, protective clothing, head protection, eye & hearing protection, and other safety protection. Headquartered in Latham, New York, PIP has a diversified channel presence across distributors, retailers, and e-commerce platforms; the largest and most knowledgeable sales force in the industry; and
Periscope Equity (Periscope), a Chicago-based private equity firm focused on investing in technology-enabled services and software companies, has held the final closing of its second institutional fund, Periscope Equity II, with USD225 million of capital commitments. The Fund exceeded its target and was oversubscribed with the backing of an experienced group of limited partners, including university endowments, pension funds, charitable foundations, funds-of-funds and family offices. Periscope completed the fundraise of its inaugural fund in 2018 with $104 million of capital commitments.
“The durability and growth of our existing portfolio during the pandemic demonstrates the benefits of our consistent investment strategy,
I Squared Capital, a global infrastructure investment manager, is to sell Grupo T-Solar to Cubico Sustainable Investments Ltd, a renewable energy specialist jointly owned by Ontario Teachers’ Pension Plan and PSP Investments, for a total enterprise value of EUR1.5 billion.“Our objective during our stewardship of T- Solar was to improve operations, grow the platform and establish T-Solar as a leader in renewables energy in Spain. We will continue to invest globally in renewables generation as well as transition energy in both industrial and growth economies,” says Sadek Wahba, Chairman of Grupo T-Solar and Managing Partner of I Squared Capital.
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NewSpring, a family of private equity strategies, has completed 16 separate investments in lower-middle-market companies to date in 2020. This deal flow pace is ahead of prior years and demonstrates the firm’s unique ability to invest through all economic periods with its proven, flexible, multi-strategy approach.
“NewSpring’s multi-strategy approach was formed to support the range of capital needs often experienced by businesses in the lower-middle market, which is large and highly fragmented,” says Jon Schwartz, President and COO of NewSpring Capital. “By specialising in this market segment for over 20 years, building deep relationships with proven, innovative management teams, and
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