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Mid-market private equity firm Stirling Square Capital Partners has acquired Assistansbolaget Försäkring Sverige, a B2C roadside assistance provider.
The acquisition is the third platform investment in Stirling Square’s Fourth Fund, which closed at EUR950 million in January and focuses on the European mid-market. Founded by Stefano Bonfiglio and Gregorio Napoleone, Stirling Square’s portfolio includes Logent, Verescence and Vernet.
Assistansbolaget contracts directly with over 350,000 customers in an annual subscription-fee model to provide drivers with RSA services across Europe. It is a tech- and data-driven innovator operating in a stable and mature industry, the company said.
Founded in 2015, Assistansbolaget has
Investec Investment Banking & Securities (“Investec”) has announced a key hire in its Oil & Gas equity research team, as part of the development of a broader sector strategy.Nathan Piper joins from Amerisur Resources, where he was previously Head of Business Development.
Nathan will be leading Investec’s coverage of Exploration & Production (E&P) companies focusing principally on UK listed companies. He previously covered the sector at Royal Bank of Canada and Bridgewell Securities. During his 12 year tenure at RBC, he was consistently ranked top 3 in UK small-mid cap external investor surveys.
Harold Hutchinson, Head of Research, says:
Hamilton Lane Collaborate to Bring New Efficiencies to Alternative Investment OperationsPrivate markets investment management firm Hamilton Lane as implemented Canoe Intelligence (Canoe) solutions as a step in its efforts to further streamline internal processes.
Canoe is a financial technology company focused on automating and improving alternative investment operations for institutional investors, capital allocators and asset servicing firms,
Hamilton Lane invested in Canoe’s series A funding round in February of 2020, and is now collaborating with the firm to unlock new efficiencies in alternative investment processes; including data collection, accounting, investment tracking, portfolio management, reporting and more. Hamilton Lane will be
With a recession more severe than the downturn caused by the global financial crisis of 2008 – and perhaps even the Great Depression – looming large, the temptation to look to the past for clues as to how the coronavirus crisis will play out is understandable.
But while the past can provide pointers to the future, it’s also worth noting that the current situation is unique in so far as it is the result of an orchestrated governmental shutdown of large sections of the global economy.
According to a recent IMF forecast, the global economy is projected to contract by 3
UK private equity house Maven Capital Partners has completed a GBP2.5 investment in Precursive, a maker of business management software. This investment by Maven will allow Precursive to pursue an ambitious growth strategy in both the UK and USA, including funding further product development and expanding its sales and marketing teams.
Founded in 2011, Precursive is a strategic partner of Salesforce, the world’s largest provider of customer relationship management software. The company helps businesses in the agency, consulting, technology, and professional services sectors operate more efficiently by automating processes such as resource management, project planning, accounting, forecasting, reporting, and client onboarding.
Private equity firm Foresight Group has sold the UK’s largest independent online retailer of golf equipment, Clubhouse Golf, to European ecommerce business, all4golf.Clubhouse has found a strong strategic partner in all4golf, and together they will look to become the pan-European market leader for golf equipment.
This represents the first exit for the GBP58 million Foresight Regional Investment fund, which supports small businesses in the North West of England and North Wales and which, since launch in 2016, has invested in 15 companies to date.
Since the fund made its original investment in February 2017, Clubhouse has more than doubled its
Law firm Sidley Austin has hired Joshua Thompson as a partner in its global finance group in New York. Thompson was previously a partner at Shearman & Sterling, where he was head of the firm’s global leveraged finance group and head of private capital.
“Josh is a widely recognised finance lawyer who has built a deep practice in leveraged finance,” says Kevin Blauch, leader of Sidley’s global finance group.
“We have many private equity and private capital clients that look to us for advice in leveraged finance and high-yield debt investment. Josh’s arrival strengthens our finance offerings to provide clients with
The UK government’s announcement of an additional GBP1.25 billion to help support early stage businesses yesterday has been welcomed by SMEs, but some businesses are affected by a loophole in the scheme.
Private equity firm Sorfam Capital has acquired an American boatbuilding company, Century Boats, for an undisclosed amount. Sorfam purchased Century Boats’ parent company, All Craft Marine, and will continue operations at its headquarters in Zephyrhills, located just north of Tampa. Sorfam and All Craft Marine were both represented by Anchors Aweigh Capital, a boutique investment banking and consulting firm focused exclusively on the maritime industry.
Century Boats will now be led by president and CEO, Lloyd R ‘Skip’ Sorenson, who is also Sorfam’s managing partner and a fourth-generation shipbuilder who has been involved in a multitude of merger and acquisition transactions
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