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BTIG has appointed J Rory Rohan as a Managing Director within its Healthcare Investment Banking division. Rohan will be based in the firm’s New York office, and will report to KC Stone, Managing Director and Head of Healthcare Investment Banking, at BTIG.In his new role, Rohan will work to expand the firm’s life sciences capabilities and private placement services across its investment banking verticals. As a dedicated product specialist, he will be tasked with structuring and originating transactions for corporate clients. BTIG Investment Banking has seen a steady increase in its deal flow and banking activity in the last 12
Genstar Capital, a private equity firm focused on investments in targeted segments of the financial services, healthcare, industrial, and software industries, has teamed with existing management to invest in Sonny’s Enterprises (Sonny’s), a specialist in conveyorised car wash equipment, chemicals, controls, service and parts. Based in Tamarac, Florida, Sonny’s is the one of the largest global manufacturers of conveyorised car wash systems and provides a complete, integrated suite of products and services that meets all the needs of car wash owners and operators. The Company serves both small independents and large national car wash chains throughout the US and internationally. Established
Intercontinental Exchange (ICE) is to acquire Ellie Mae, a cloud-based platform provider for the mortgage finance industry from private equity firm Thoma Bravo in a deal valued at approximately USD11 billion. The deal, following ICE’s acquisition of a majority stake in MERS in 2016, and the remainder in 2018, and the acquisition of Simplifile in 2019, establishes ICE, through its growing ICE Mortgage Services network, as a leading provider of end-to-end electronic workflow solutions serving the evolving US residential mortgage industry.
Ellie Mae, based in Pleasanton, California with approximately 1,700 employees, was founded in 1997 with a mission to automate and
MiddleGround Capital has acquired majority ownership of Dura Automotive Systems from Bardin Hill Investment Partners. This is MiddleGround’s sixth platform acquisition made from its first fund, which closed in August 2019.Dura is a global designer and manufacturer of highly engineered automotive systems. It operates through its mechatronics, lightweight structures and exterior trim segments, making products such as shift-by-wire actuators, advanced driver-assistance systems (ADAS), electric vehicle (BEV) battery trays, mechatronic control systems and aluminium roof rails. Dura supplies leading automotive OEMs and Tier one partners worldwide, with a presence on more than 300 platforms across all light vehicle and powertrain types.
Northstar Capital (Northstar), a provider of junior capital for middle market private equity transactions, has invested in Yale Cordage, a portfolio company of River Associates (River).Based in Saco, Maine, Yale Cordage is a provider of high-performance synthetic rope for key industries such as: heavy lift, specialty industrial, utility, arborist, life safety, and oceanographic / marine. The Company utilises proprietary equipment and engineering ingenuity to design and manufacture synthetic rope and rope systems for hundreds of long-term customer relationships.
Northstar provided subordinated debt and an equity co-investment to help River finance the deal. The Northstar team remains committed to partnering with
Fund administration, capital markets, corporate and fiduciary services specialist Ocorian has assisted Pacific Equity Partners (PEP) in the closing of its 6th Core Fund (Fund VI), with AUD2.5 billion of commitments.PEP is the largest private markets fund manager in Australasia and this impressive fundraising effort means that they have achieved their target hard cap. Ocorian will continue to support PEP as their fund administration partner of choice.
Ocorian assisted with the establishment, launch and closings of Fund VI and will continue to provide ongoing support, including administrative, depositary and governance services in both Jersey and the Cayman Islands, notably with
General Atlantic-backed primary care startup Oak Street Health is listing on the New York Stock Exchange, aiming to raise close to USD328 million.
Oak Street Health, a network of primary care centres for adults on Medicare, priced its IPO of 15,625,000 shares of its common stock to the public at USD 21.00 per share.
The shares are expected to begin trading on the New York Stock Exchange under the symbol “OSH” on 6 August, 2020, and the offering is expected to close on 10 August , 2020.
In addition, Oak Street has granted the underwriters a 30-day option to purchase
Foresight Group (Foresight) has completed a EUR4.5 million top-up to the Project Bond issued in January 2019 by Pagano & Ascolillo and listed on Borsa Italiana, for the installation of LED street lights on behalf of the Foresight Italian Green Bond Fund.The top-up will support four further street lighting projects to retrofit c7,235 street lighting points across four municipalities in the Centre and South of Italy.
The project bond which was the first of its kind to be issued in Italy for the financing of greenfield projects was innovatively structured such that P&A Public Lighting (the Issuer) could draw down
Private equity funds managed by Blackstone are to acquire Ancestry from Silver Lake, GIC, Spectrum Equity, Permira, and other equity holders for a total enterprise value of USD4.7 billion. Current Ancestry investor GIC will continue to retain a significant minority stake in the company. This transaction represents the first control acquisition for Blackstone’s eighth vintage of its flagship private equity vehicle.
Ancestry is specialist in digital family history services, operating in more than 30 countries with more than three million paying subscribers across its Ancestry online properties and more than USD1 billion in annual revenue. The company harnesses the information found
Aberdeen Standard Investments (ASI) has today announced the appointment of Chris Robinson to its European Private Equity team.Robinson joins as a Senior Investment Director in the European co-investment group, following seven years at Cinven where he invested across a range of sectors, notably Healthcare and Food/Ingredients, and represented Cinven on the Boards of several portfolio companies. Robinson began his career in investment banking after graduating from the University of Cambridge.
ASI, which manages EUR11 billion in private equity investments, has been partnering with lead investors on increasingly complex mid-market co-investments and GP-led secondaries in recent years. Recent examples include
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