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Funds managed by Crestview Partners (Crestview) have invested in Upwell Water, a San Francisco-based, water-focused specialty finance company. Upwell Water was founded to create one of the world’s leading water finance companies and acquires and finances water assets to facilitate the deployment of needed water solutions that enable a sustainable water future, one of the core focus areas of the United Nations’ Sustainable Development Goals.
Crestview’s investment in Upwell Water, alongside a previous commitment from the 2040 Fund and Upwell, LLC, provides the Company with the equity capital to create a USD1 billion specialty finance company. The Company’s capital market solutions
Gen Cap America (Gen Cap), a private equity firm focused on lower middle market buyouts, has sold Aero Systems Engineering (ASE) to Calspan Technology Holding Corporation (Calspan) headquartered in Buffalo, New York. Terms of the transaction have not been disclosed.Based in St Paul, Minnesota, ASE is a leading provider of design and build engine test and wind tunnel facility solutions as well as lab testing services for jet engines and airframes for a global customer base of OEMs, MROs, militaries, government agencies, universities and research organisations. They offer a portfolio of highly complex, mission critical testing solutions to the global
Symetrica, a manufacturer of radiation detection products for military and homeland security applications, has closed a GBP4 million funding round. The round was led by Parkwalk, the leading investor in startups spun out of UK universities – with participation from other existing Investors and the management team – and includes a provision for a further £2 million commitment from a specialist defence and security investor.
Symetrica was founded in 2002 by the former head of Physics and Astrophysics at Southampton University. The company manufactures, supplies, and supports a wide range of devices – from handheld and backpack-mounted sensors to vehicle-based
Vitruvian Partners (Vitruvian) has closed Vitruvian Investment Partnership IV (VIP IV) at its hard cap of EUR4.0 billion. The hard cap was reached in under three months from formal launch of the fundraising.VIP IV is one of the largest funds focused on supporting high growth companies in the middle market. With a primary focus in Europe, the Fund has global reach with the ability to support businesses seeking assistance with international expansion. Vitruvian is able to provide this global reach through its network of offices across Europe and satellite offices in the US and China.
VIP IV reached the hard
Office Depot Europe, a portfolio company of Aurelius Equity Opportunities has agreed to sell its Spanish direct business unit, which runs on the commercial brand Viking, to strategic buyer Bruneau Spain, a subsidiary of the French Bruneau Group. Bruneau is a leading mail order company for office supplies headquartered in Villebon sur Yvette, France. Office Depot Europe will hereby completely exit the Spanish market following the successful sale of its Spanish contract business unit on 23 July, 2020. Financial details have not been disclosed.
Bruneau will integrate the business into its existing platform and further develop it. The business has excellent
Ardian has acquired a majority stake in Finaxy, a French multi-specialist B2B and B2C insurance broker, from European mid-market private equity firm, Equistone Partners Europe.Founded in 2009 under the leadership of Erick Berville, Finaxy has become a top 10 insurance broker in France following Equistone’s acquisition of a majority stake in the Group in 2014. With a strategic positioning focused on B2C niches and specific B2B business expertise, the Group has successfully leveraged its know-how to build a third offering dedicated to insurers and bank insurers. Since its inception, the Group has delivered strong organic growth and an active buy-and-build
BGF’s total H1 investment stands at GBP177 million, including GBP128 million into new portfolio companies and GBP49 million into existing portfolio companies.
BGF backed 24 new companies in the first half of 2020, while completing eight exits. Some of its latest deals include British ceramics manufacturing company Emma Bridgewater, Bayfield and AIM-listed The City Pub Group in London.
“Covid-19 is already having a dramatic impact on the economy with growing unemployment and real concern about rising insolvencies as furlough ends and recessionary conditions hold sway,” said Stephen Welton, executive chairman at BGF.
“BGF as a business has maintained full employment
CORE Industrial Partners (CORE), a Chicago-based private equity firm, has formed a new platform called Incodema Holdings and completed the acquisitions of Incodema, a precision sheet metal engineering solutions provider, and Newchem (Newcut), a photo chemical etching manufacturer. The Company specialises in micro, intricate parts and serves customers from prototype through high-volume production.
Founded in 2001, Incodema offers a broad array of internal sheet metal cutting and forming solutions, including laser, micro waterjet, specialty stamping, multislide and welding, among others, that allow Incodema to generate typical turnaround times of 6-8 days for complex, tight tolerance parts. Further, with the capability to
HKW, an Indianapolis-based middle-market private equity firm, has appointed Lilly Green as Vice President of Deal Generation. Green will serve as part of HKW’s shared sourcing effort covering business services, health & wellness, and technology. Prior to joining HKW, she most recently served as business development manager for the technology group at Welsh, Carson, Anderson & Stowe.
“The time and effort we put into our sourcing infrastructure has always been at the core of our business,” says Ted Kramer, President & CEO of HKW. “Lilly’s experience in originating deals and managing relationships in conjunction with understanding the strategic priorities of
Behrman Capital, a private equity investment firm based in New York and San Francisco, has appointed Vincent M Buffa as Chief Executive Officer of its portfolio company Micross Components (Micross), a global supplier of high-reliability microelectronic services and products for the defence, space, commercial aerospace, medical and severe-duty industrial applications. Buffa currently serves as Chairman of Micross and is a Behrman Capital Operating Partner.
Behrman andcBuffa have a successful history of collaboration in the defense and aerospace industry and, in particular, the high-reliability electronic components sector. Buffa served for seven years as the CEO and President of Data Device Corporation
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