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European software investor Hg has agreed the sale of Eucon Group to VHV Group, a German insurance company. The terms of the transaction, which is subject to customary anti-trust approvals and is expected to close later this year, have not been disclosed. Eucon is a leading provider of best-in-class information and data-based systems for efficient product management in the automotive aftermarket. Customers include car manufacturers and suppliers, as well as a variety of workshop chains. For insurers, Eucon digitalises claims management and is one of the sector leaders for digital platform solutions for data and document processing. In addition, Eucon offers
IK Investment Partners’ (IK) IK Small Cap II Fund is to acquire a majority stake in ALBA Baving Group (ALBA) from its founding family. ALBA is a provider of infrastructure cleaning and maintenance services for municipalities and B2B customers in Germany.
Financial terms of the deal, which is subject to regulatory approval, have not been disclosed.
Founded in 1964 by Albert and Hans Baving in Neuenkirchen, ALBA has developed into one of Germany’s largest service providers for municipal infrastructure services. The Company provides street sweeping, sink box cleaning, road and highway maintenance and other infrastructure services as well as winter
Hovis, the UK’s iconic 134-year-old bakery brand, has been acquired by Endless LLP, a UK based mid-market private equity firm, for an undisclosed sum. The terms of the agreement have been approved by both the Gores Group and Premier Foods, Hovis’ current owners.
Hovis has seen a significant turnaround in the last four years, and will continue to drive its strategy focused on delivering great quality products, customer value and service. Significant investment by Endless will support the existing Hovis management team to deliver their future plans and is the third investment by the firm in recent times in the UK
Eze Castle Integration, a portfolio company of private equity investment firm HIG Capital (HIG) and a specialist in technology solutions, has acquired digital transformation firm NorthOut Inc. Eze Castle Integration says the acquisition will accelerate its digital transformation offering for the financial and professional services industries.
NorthOut is a fast-growing digital transformation firm headquartered in Boston with 165 employees focused on delivering advanced solutions that allow leading organisations to accelerate business transformation and overcome business challenges. NorthOut brings a combination of business-led digital strategy and modern engineering driven design to its core capabilities – Digital Experience Design, Application Modernisation, DevOps and
Williams Advanced Engineering’s (WAE) technology investment partnership with Foresight Group has hit a milestone of GBP50 million raised, helping a total of 20 UK-based SMEs and start-ups take their innovative products to market.Launched in 2016, the Foresight Williams Technology EIS fund has had one aim: to help grow small and medium-sized UK technology and engineering businesses, giving them access to expert technical expertise and investment.
The inspiration for the fund followed a partnership between WAE and Aerofoil Energy which rolled out an energy-saving refrigeration system across most of the UK supermarkets, preventing cold air from spilling into the aisle and
Independent private equity fund administrator Gen II Fund Services has secured a new strategic investment led by General Atlantic (GA), a global growth equity firm, and Hg, a global software investorIHS Markit, a specialist in critical information, analytics and solutions, will also make a minority investment in the company, while Cobepa SA will continue to hold a minority position and Gen II’s founders and management team will continue to hold a significant investment in Gen II whilst continuing to lead the business.
The terms of the transaction were not disclosed and closing of the transaction is conditional on customary
Prime Capital AG, an independent asset manager and financial services provider, wich manages and administers EUR 17.7 billion in various asset classes, is broadening its shareholder base with immediate effect with 70 per cent of Prime Capital shares being transferred to a total of 10 executives. Company founder and Chairman of the Supervisory Board Wolfgang Stolz will retain 30 per cent of the shares. The move gives long-serving executives and employees across the company the opportunity to participate in the future business success of Prime Capital.
The generation change and the new ownership structure have been carefully prepared over the past
Aurelius Equity Opportunities (Aurelius) is to acquire Pullman Fleet Services from Wincanton. With a particular focus on heavy goods vehicles (HGV) in the UK, Pullman Fleet Services (Pullman) will complement Aurelius-owned Rivus Fleet Solutions (Rivus) which has an offering for light commercial vehicles (LCVs).Headquartered in Doncaster, Pullman Fleet Services is the UK’s largest independent provider of commercial fleet management and maintenance, with a focus on heavy goods vehicles. Pullman has a strong reputation and track record for excellence, throughout 35 years of providing a reliable, flexible and quality service offering, and will be further supported under the ownership of Aurelius.
Chiltern Capital (Chiltern) has completed a buy-out of Inciner8 Limited (Inciner8), a designer and manufacturer of incinerators for a range of applications across the waste management industry including medical, municipal and animal. Inciner8 supplies incinerators to a range of customers including corporate, government and non-governmental organisations.
Based in Southport, Inciner8 was founded in 2003 by Vince Ferguson OBE, who will be exiting the business at completion.
Chiltern has taken a majority stake in the company and will play an active role in supporting the management team to build on Inciner8’s successful growth track record and develop additional revenue streams. As part
Downing Ventures has completed a USD35 million Series B funding round in Ayar Labs as co-lead investor.
Ayar Labs is a Deep Tech organisation that is solving semiconductor interconnect (I/O), bandwidth and power bottlenecks by moving data using light, with its TeraPHY monolithic in-package electronic/photonic chiplet-based solution. The result is a vast improvement in bandwidth, bandwidth density, latency and power consumption across a wider distance.
The round was co-led by Downing Ventures and BlueSky Capital with additional funding provided by Applied Ventures LLC, Castor Ventures and SGInnovate (Singapore) in addition to existing investor participation from Founders Fund, GLOBALFOUNDRIES, Intel
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