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Turnspire Capital Partners (Turnspire), a special situations-focused private equity firm, has signed a definitive agreement to acquire the Goodyear air springs business (Goodyear Air Springs) from EnPro Industries, (EnPro).Goodyear Air Springs, under a global and exclusive license from The Goodyear Tire and Rubber Company and headquartered in Fairlawn, Ohio, is a provider of premium air springs for trucks, trailers, buses, and specialty vehicles. Founded by The Goodyear Rubber and Tire Company in 1957, Goodyear Air Springs has over 60 years of technology leadership. The Company is a preferred partner to original equipment manufacturers (OEM) and trucking fleets across North America
Karma Ventures and byFounders have led a USD6.1 million funding round in Icelandic anti-money laundering startup Lucinity.
Existing investors Nordic based Crowberry Capital and US based early stage investor Preceptor Capital also participated in the founding round.
The software startup Lucinity is an Anti-Money-Laundering app that “uses human AI to ‘make money good’ by augmenting financial crime fighters in financial firms with AI technology,” according to the company.
Margus Uudam, founding partner at Karma Ventures, led the deal. “The huge problem Lucinity tackles, the team’s excellent background in financial services and AML solutions industry and the revolutionary approach that the
By Deborah Ruff, Head of US & International Arbitration, Julia Kalinina Belcher, Counsel, and Charles H Golsong, Counsel, Pillsbury Winthrop Shaw Pittman LLP – On 22 May 2020, the Tribunal de Commerce of Paris ordered the insurance giant AXA France IARD SA to pay Maison Rostang, a Michelin-starred Parisian restaurant, EUR 45,000 for two months’ worth of revenue lost due to the Covid-19 pandemic. A simple case of Covid-19 losses? Not quite.
Foley & Lardner has appointed Stephen Meli as a partner in the firm’s Business Law Department and Fund Formation & Investment Management Practice Group in Boston. Meli comes to Foley from Proskauer Rose, where he was a partner in the Private Investment Funds Group. His arrival follows directly on the heels of partner Katharine Beattie, who joined Foley’s Boston office last month.
Meli focuses his practice on private fund formation, emerging and spin-out private fund sponsors, and institutional investor representation. He establishes and structures emerging- and middle-market buyout, venture capital, growth equity, credit and similar funds, including funds-of-funds and secondary
Ocean Avenue Capital Partners (OACP) has completed fundraising for Ocean Avenue Fund IV. The Fund had a USD300 million target and received limited partner commitments at its hard cap of USD350 million.
ECI Partners, a growth-focused mid-market private equity firm, has invested in the international critical communications service provider, CSL. The investment will support CSL to further enhance its offering to its customer base, investing in product innovation and ensuring the high-quality service levels it is known for as it expands.
CSL is a specialist in providing M2M and IoT connectivity solutions in the Fire, Security and Telehealth sectors. It has invested significantly in its core Fire & Security customer base over the last 24 years, with the latest DualCom Pro range providing simple and reliable alarm signalling for domestic, commercial and retail
Hydrogen fuel cell specialist Bramble Energy has raised GBP5 million in a Series A round led by BGF with participation from existing investors including IP Group, Parkwalk Advisors, and UCL Technology Fund.Bramble Energy has developed the only technology capable of producing gigawatts of hydrogen fuel cells using existing global manufacturing resources, dramatically reducing the time to market and investment needed versus existing fuel cell designs. Hydrogen fuel cells generate electric power from an electrochemical reaction rather than combustion, thereby eliminating carbon emissions from the power unit and producing only water and heat as by-products.
Addressing a key component of
Carey Olsen has promoted corporate lawyers Michelle Falcucci (Bermuda) and Nick Ghazi (Jersey) to senior associate.Falcucci has been a member of the corporate team at Carey Olsen Bermuda since June 2019. She advises on all aspects of Bermuda corporate and commercial law, with a particular focus on mergers and acquisitions, joint ventures and private equity. Falcucci also has experience in the field of investment funds, including the formation and ongoing maintenance of private equity, real estate and hedge funds.
Ghazi has been a member of the Jersey corporate team since 2017. His practice focuses on restructuring and debt finance,
Isarel-based private equity investor Catalyst Fund has appointed Lisya Bahar-Manoah (37) as partner. Catalyst invests in Israeli technology companies in growth stages. Catalyst Private Equity firm was established in 1999 by Edouard Cukierman, Yair Shamir and Boaz Harel. With over USD300 million under management, the fund supports the long-term growth of medium-sized Israeli companies, with innovation in global markets. Focus sectors for the Fund’s investments include telecom, advanced manufacturing, IT, medical equipment, and life sciences/pharma. Some of the prominent portfolio companies include: Mobileye, Tufin Technologies, Taboola, Arbe Robotics, Eloxx, SatixFy, XJet and more.
During the past 14 years, Bahar-Manoah has gained
Enterprise IT managed services organisation DSP and Leeds-based Explorer UK, an Oracle consultancy, development and support provider, have been brought together to form one of the largest independent Oracle partners in the UK. DSP is backed by Leeds headquartered YFM Equity Partners (YFM) which invested GBP5.3 million in the business in 2018 to fund its GBP10 million MBO led by Simon Goodenough, making it the sixth investment from YFM’s Buyout Fund I. Since the 2018 management buyout, DSP has doubled turnover and profitability, and grown its contract base by 300 per cent. The deal, which included working capital provided by Santander
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