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Clayton, Dubilier & Rice has appointed Alfred (Fred) Festa, former Chairman and Chief Executive Officer of WR Grace & Company (NYSE: GRA) as an Operating Advisor to the firm’s funds.Festa has a demonstrated record of success in senior corporate leadership positions. He joined Grace as President and Chief Operating Officer in 2003 and went on to serve as Chief Executive Officer from 2005 until 2018 and Chairman until 2019. He is credited with leading the WR Grace’s operational turnaround, including repositioning the company’s business portfolio by spinning off its construction chemicals and packaging operations and integrating 27 acquisitions, expanding into
Neuberger Berman has held the close of the NB Specialty Finance Fund (NBSF), an alternative credit offering, with over USD300 million of committed capital from a global investor base that includes insurance companies, pension funds, asset managers, RIAs, and family offices. The Fund’s objective is to complement more traditional private debt strategies by seeking to generate attractive current income via short duration transactions. Fintech companies are often at the centre of the group’s efforts and direct relationships. The group generally targets investment partnerships primarily focused on consumer and small business related receivables and structures the transactions through a mix of forward
Chiltern has added two experienced hires to its investment team. Joe Bennett joins as an Investment Manager. He previously worked at a private family office where he led lower-mid-market deals across a number of sectors, including TMT, Business Services and Healthcare, and prior to that was a Manager in KPMG’s mid-market Transaction Services team.
Bennett says: “I’m excited to be joining Chiltern as they continue with their ambitious growth plans. Having spent most of my career working with UK SMEs as both an investor and advisor, I am looking forward to supporting the development of Chiltern’s current and future investee companies.”
QuadSAT, a Danish company that specialises in test and measurement of satellite antennas, has closed a EUR2 million Pre-Series A Investment.The round was led by Seraphim Capital, the world’s first venture fund dedicated to SpaceTech, Vaekstfonden, the Danish state’s investment fund, and Angel Investor, Helge Munk.
The use of space is key to solving significant challenges faced in the world – from ensuring worldwide connectivity to providing data to solve environmental issues. As a multitude of sectors start looking toward space, the number of satellites in orbit will increase significantly in the next few years.
With the amounts of communication
6 Degrees Health, a provider of technology-enabled healthcare cost containment solutions for self-insured employers, has secured a significant investment from FTV Capital, a sector-focused growth equity investor in innovative companies in enterprise technology and services, financial services, and payments and transaction processing. This investment will enable 6 Degrees Health to expand its platform, which enables employers to realise significant cost savings while also generating best-in-class employee experience.
6 Degrees Health’s reference-based pricing solutions encourage health plans to pay providers a fair rate, without unduly restricting employee benefits. 6 Degrees Health’s proprietary MediVI technology platform collects, analyses and benchmarks claims and
China Renaissance Holdings (China Renaissance), has held the final closing of Huaxing Growth Capital’s USD Fund III with more than USD600 million in committed capital, backed by top-tier global institutional and individual investors from Europe, Asia and the Middle East, including sovereign wealth funds, commercial banks, fund of funds and family offices.The close of the USD Fund III marks another fundraising milestone for Huaxing Growth Capital following the close of the RMB Fund III which raised over CNY6.5 billion last year. To date, China Renaissance’s private equity funds have approximately CNY40 billion of assets under management (“AUM”) in total.
After
Atar Capital, a Los Angeles-based global private investment firm, has completed the acquisition of WinCup from funds managed by BlackRock.Headquartered in Georgia, WinCup employs nearly 1,000 people across eight manufacturing facilities that provide nationwide production and distribution of a comprehensive portfolio of traditional and biodegradable foodservice packaging products. The company is first to market with two flagship products, Phade, an award-winning marine biodegradable, home and industrial compostable straw; and Vio, the only biodegradable foam-based cups, lids and straws in the US and Canada. WinCup serves an impressive blue-chip client base of distributors, restaurant chains and fast-moving consumer goods (FMCG) retailers
ynnchurch Capital (Wynnchurch) has acquired Labrie Environmental Group, (Labrie), a manufacturer of refuse collection vehicles and related parts. Founded in 1971, Labrie produces a full suite of side loader, front loader, and rear loader vehicles that it sells through a network of dealers.
“We are committed to delivering best-in-class refuse collection vehicles and service for our customers and are excited to partner with Wynnchurch as we continue that mission,” sasaysid Diana Grootonk, CEO of Labrie. Diana added, “Wynnchurch understands our business and the demanding needs of our customers, and we believe, that through our shared vision, we can take Labrie to
Avedon Capital-backed Spindel und Lagerungstechnik Fraureuth (SLF) a niche manufacturer of specialised spindles and roller bearings located in Fraureuth, Germany, has acquired STI, a specialised engineering trading company. The transaction was completed in the form of an asset deal and the parties agreed not to disclose the purchase price or further details of the transaction.
As part of a succession solution, SLF has acquired the family business STI. Founder and CEO Ralf Teufert will stay on board as CEO for a transition period and thereafter reduce his operational responsibilities over time. With the acquisition SLF further expands the group’s product
Europe-based alternatives funds have reached EUR2.00 trillion in AUM for for the first time as of the end of 2019, according to a new report from Preqin.Read the full story at Hedgeweek…
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