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Venture capital firm Alumni Ventures Group (AVG), has opened a new fund focused on investing in entrepreneurial companies working to shape and accelerate the world’s recovery from the Covid-19 crisis. The Post-Covid Fund will invest in ventures that either directly or indirectly address the multiple impacts of the virus and that demonstrate strong resilience in the face of Covid- and recession-related challenges. Likely target sectors include healthcare, technology, services, data monitoring and analysis, learning, payments, communications, entertainment, and others.
“We believe this pandemic has changed our world forever,” says Michael Collins, CEO of Alumni Ventures Group. “Trends will accelerate. Whole new
Clayton, Dubilier & Rice has completed the acquisition of Huntsworth, a provider of specialty services that help pharmaceutical and biotech companies commercialise new therapies and support the life cycle of drug innovation for multiple years, from Phase II and Phase III trials to loss of exclusivity. The transaction was valued at GBP577 million.
Huntsworth’s broad range of value-added service include Medical Affairs, Market Access, and Marketing services to a large and diverse portfolio of clients consisting primarily of pharmaceutical and biotechnology companies in the US and Europe. Over the last 10 years, the business has transformed from a traditional communications agency
Levine Leichtman Capital Partners Europe (LLCP) has acquired SiPM in partnership with management and its founding partners. Terms of the transaction have not been disclosed.Founded in Belgium, SiPM is a pioneer in high-impact e-learning solutions for blue-chip corporations worldwide. The Company has changed the way their clients train their procurement, supply chain and sales professionals by providing role-specific curriculum and the latest e-learning methods, resulting in maximum impact for employees and organisations. Since its founding, SiPM has rapidly expanded its platform to over 50,000 individuals employed by over 200 blue-chip corporations in over 100 countries worldwide.
David Rajakovich, Managing Director
Oxwash, a laundry and dry-cleaning startup aiming to disrupt the traditional laundry service sector, has secured a GBP1.4 million investment from TrueSight Ventures, Biz Stone (co-founder of Twitter), Paul Forster (founder of Indeed.com), Founders Factory and other angel investors. Oxwash’s service is taking medical-grade laundry technology typically used in spaceship and hospital sterilisation and making it accessible to all. The new investment will be used to expand Oxwash’s reach across South East England and scale the team
Oxwash, founded by former NASA engineer Kyle Grant, uses ozone generation technology and delivery to provide coronavirus (Covid-19) disinfection for customers. Oxwash combines ozone disinfection
YFM Equity Partners (YFM) has appointed Laura Sisson as an investment manager. Sisson, who is based in company’s Manchester office will support YFM’s investment team in the origination of new growth capital and buyout opportunities, predominantly in the North West.Laura joins from KPMG’s transaction services team in Manchester, where she worked with management teams and private equity firms on a wide range of mid-market transactions, predominantly in the business services and industrial sectors.
Andy Thomas, partner at YFM, says: “We’re pleased to welcome Laura to the team at YFM as we continue to build our presence in the North
KPS Capital Partners (KPS) has signed a definitive agreement to acquire the Lufkin rod lift solutions business (Lufkin) from Baker Hughes (NYSE: BKR). Lufkin was founded in 1902 and acquired in 2013 by General Electric’s (NYSE: GE) Oil & Gas division. The division subsequently merged with Baker Hughes, Inc in 2017.
Lufkin, headquartered in Missouri City, Texas, is a leading global provider of rod lift products, technologies, services and solutions, including automated control and optimisation equipment and software for rod lift equipment to the oil and gas industry. With over 100 years of industry leadership, Lufkin manufactures a complete line
A majority (83 per cent) of private equity GPs do not expect to make a portfolio exit within the next 12 months in the Covid-19 environment, a new report by Investec reveals.
Verso Capital, a growth stage buyout investor with a special focus on carve-out situations, has launched a new EUR100 million sector agnostic fund.
The first investors in Verso Fund III are KRR III, Tesi, pension funds Ilmarinen, Varma and Elo, as well as Nokia, Valeado AB and Etrisk Oy, with a total investment commitment of EUR66 million.
The fund’s target size is EUR100 million and fundraising will continue until the end of 2020.
The fund acquires businesses within the EUR5-50 million revenue bracket but suffers from growth or profitability bottlenecks.
“The shift in the world economy forces companies to focus
The number of private equity (PE) backed deals for AIM companies has trebled in the last 12 months and the Covid-19 driven stock market fall could see this trend continue if AIM’s valuation gap with the main market grows, says accountancy and business advisory firm, BDO LLP.12 companies from AIM were acquired and taken private by PE funds in 2019/20, up from just four deals in 2018/19 (year end March 31).
BDO says that if the Covid-19 crisis impacts on share prices, AIM companies could see a repeat of previous cycles, when low AIM company valuations saw PE funds
Global law firm Goodwin has appointed James Grimwood as a partner in the firm’s private equity group in London.Grimwood advises on private equity transactions for institutions and management teams both domestically and cross border. He has a wealth of experience in handling corporate transactions, including M&A, joint ventures and reorganisations, having acted on many large and high-profile matters. Grimwood is ranked as a ‘Leading Individual’ for Private Equity: Buyouts by Chambers UK.
“In London, our private equity practice has now grown to more than 60 lawyers across deals, funds and debt and we are looking forward to continued momentum,”
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