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British fintech alternative payment provider start-up Fly Now Pay Later has raised GBP35 million in Series A equity and debt funding round, which will offer a new way to finance travel once restrictions ease.
Jasper Dykes, co-founder and CEO of the startup, will offer flights from 0 per cent APR. “Few industries have been affected as significantly as tourism in the wake of Covid-19. This investment is a welcome boost to the sector, and provides us with adequate cash flow to help steer us through these challenging times,” said Dykes. “It’s predicted that once lockdown restrictions begin to ease, airlines
A buyer’s ability to execute complex carve-out transactions is predicted to be the most important factor for corporate sellers of non-core assets, according to the findings of Aurelius Equity Opportunities’ (Aurelius) Annual Corporate Carve-out Survey. This finding, which has been amplified by the uncertain macro-environment caused by the Covid-19 crisis, contrasts with previous years, where the most important factor consistently chosen by respondents was securing the highest price.
The survey’s respondents, which consists of Aurelius’ corporate and advisory contacts across Europe, were canvassed for their opinions on the volume and drivers of divestment activity in Europe in 2020.
Forty seven per
Palatine Private Equity has bolstered its investment team in the South with the appointment of Tristan Craddock as partner in its Impact Team.Craddock will work alongside partners Beth Houghton and Zoe Clements to identify investment opportunities for Palatine’s Impact Fund, whilst also working with the portfolio to help generate sustainable growth. Craddock will also provide strategic advice to management teams in order to deliver social and/or environmental impact, as well as creating value by improving people strategy, digitisation and ESG management.
Palatine launched its GBP100 million Impact Fund in 2017, becoming the first mid-market private equity house to raise
Maven Capital Partners (Maven), one of the UK’s most active private equity houses, has completed a GBP1 million investment in Boiler Plan (UK) Ltd (Boiler Plan), an online platform that sells, installs and services central heating boilers across the UK.The transaction includes a GBP600,000 investment from the Maven VCTs and a further GBP400,000 investment from the North East Development Capital Fund, supported by the European Regional Development Fund and managed by Maven.
The new funding will support Boiler Plan’s ambitious growth plans, allowing the business to execute its long term strategy to create 40 new jobs in the next
Iron Pillar has closed its USD45 million Top Up Fund, which will top-up the Iron Pillar Fund I that held its final close in 2018 with capital commitments of USD90 million.
With this new infusion of funds, Iron Pillar has added three global institutions including alternatives investor 57 Stars and one European family office to its investor base.
The Top Up Fund, which was oversubscribed to its hard cap, will provide Iron Pillar additional capital to back specific Fund I portfolio companies.
Fund I has made eight investments so far, including one exit from SaaS company Now Floats, acquired by
Clayton, Dubilier & Rice (CDR) has appointed Keith Pitts, former Vice Chairman of Tenet Healthcare Corporation, as an Operating Advisor to CD&R Funds.Pitts brings more than 40 years’ experience as a senior executive in healthcare-related businesses. He served as Vice Chairman of Tenet Healthcare, a large, diversified healthcare services business in the US from 2013 until his retirement in 2019.
Prior to Vanguard Health Systems’ sale to Tenet, Pitts served as Vice Chairman of Vanguard, helping to build the business from a start-up to a public company with USD6 billion in revenue. Previously, Pitts was Chairman and Chief Executive Officer
LitCapital, a dedicated private equity growth investor in the Baltics, has made its sixth successful exit in a row selling its holding in NNL LT, a logistics service provider focused on temperature-controlled goods, operating in Lithuania and Latvia. LitCapital sold its stake to the Founders of the Company.
This investment has generated 4.0x CoC return for the Fund. Currently realized gross result of the Fund exceeds 26 per cent IRR. All LitCapital realized exits have generated 2.0x-5.7x returns.
LitCapital invested in NNL LT in 2012. Group’s revenues grew nearly fourfold and EBITDA more than doubled after substantial investments in warehouse
Like every business, the Private Equity sector has been buffeted by the COVID-19 crisis.
Global growth private equity firm TA Associates has agreed to make a strategic growth investment in Honan Insurance Group, a Melbourne-based commercial insurance broker.
The deal is expected to close in the second half of 2020. Honan’s Group CEO and executive director Damien Honan, CEO Andrew Fluitsma and COO Laurence Basell will continue to lead the business and be shareholders alongside TA following the transaction.
Honan designs, prices and negotiates insurance policies on behalf of corporate clients. The company’s main verticals are in the corporate, strata, real estate and employee benefits markets, mainly in Australia, New Zealand and Southeast
GCA Altium has appointed David Riemenschneider as Senior Advisor for Automotive Technology & Mobility.Riemenschneider brings to GCA Altium a combination of over 30 years of experience as senior executive at one of the world’s largest car makers, CEO of a private equity-backed automotive software firm and M&A advisor in Automotive Technology and Mobility. He has led circa 20 corporate finance transactions both as principal and advisor. An American citizen, David has lived in Europe (France, the UK and Germany) for over 20 years.
Riemenschneider was born and raised in Michigan (USA) where he also studied, receiving his BBA in
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