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CVC Capital Partners (CVC) has closed the CVC Growth Partners Fund II (Fund II) with capital commitments of USD1.6 billion, including a sidecar co-investment vehicle.
Fund II will continue the same investment strategy as its predecessor fund, investing in high-growth, mid-market companies in the software and technology-enabled business services sectors.
Fund II, which exceeded its USD1 billion target, enjoys a diverse global investor base, spread across North America, Europe, the Middle-East and Asia.
CVC’s Growth Partners platform invests primarily in North America and Europe, focusing on a variety of sectors including software, SaaS, managed services, cloud computing, mobility,
Ironwood Capital has exited its investment in Numet Machining Techniques (Numet), which has been sold to Bromford Industries.
Numet, headquartered in Orange, Connecticut, is a manufacturer of precision machined components requiring complex geometries and exotic alloys. Numet supplies many of the key leading aerospace engine platforms. Its customers include Pratt & Whitney, GE Aviation and the US Department of Defense.
Ironwood Capital Managing Director, Jim Barra, says:, “Ironwood Capital is proud to have partnered with Numet over the past several years. During our investment period, the Numet management team transformed the business from a components supplier to a value-added
Alternative asset management firm Owl Rock Capital Group has sold a passive, non-voting minority stake to Dyal Capital Partners (Dyal), a division of Neuberger Berman. Terms of the investment have not been disclosed.
Dyal’s investment provides Owl Rock with additional permanent capital to continue providing highly customised direct lending solutions to US middle market companies. Owl Rock plans to use all proceeds from the transaction to invest in Owl Rock products, which are expected to include complementary product launches and strategies in 2020.
There will be no changes in the management, strategy, investment process, or day-to-day operations of Owl Rock
A Scottish tech firm with an online platform that helps convenience stores and corner shops cash in on the growth in online grocery sales has raised a seven-figure sum to fund its expansion throughout the UK.
Snappy Shopper has raised the seed capital from Kelvin Capital, Mercia, the Scottish Investment Bank and the company’s existing management team. The investment will support the company’s ambition to become the UK’s leading online platform for convenience stores and allow it to build its team with the creation of 21 jobs over the next year.
Snappy Shopper, which is based in Dundee, brings ‘convenience stores to consumers’ doors’ and can offer deliveries in under 60 minutes in many cases. It provides an easy and seamless way
Sera Prognostics (Sera), a health diagnostics company dedicated to improving the lives of women and babies through individualised prenatal care, has raised USD36 million in a Series D financing round led by Blue Ox Healthcare Partners (Blue Ox), alongside two strategic healthcare companies.
Proceeds from the Series D financing will be used to increase commercialisation of Sera’s PreTRM test and to measure real-world clinical improvements and economic savings in collaboration with top health plans and providers.
Sera’s products focus on the early prediction of a woman’s individualised risk of preterm birth and other pregnancy complications. The Company’s PreTRM® test
In this week’s newsletter, Michael Arpey, Managing Director and Head of Investor Relations at Carlyle Group, outlines to James Williams how the group is responding to some of the biggest current trends in the private equity sector, including catering for an increased appetite for private equity investments among Asian investors.
We also look at a new report from law firm Foley & Lardner which suggests that a recent surge in revenue and viewership in the esports sector is creating a raft of new opportunities for private equity investors, but also some new challenges to address. And as if to prove apoint,
Ancala Midstream Acquisitions (Ancala Midstream) has appointed Eric Marston as Chief Operating Officer and Nick Harrison as Chief Financial Officer.
Ancala Midstream recently announced the acquisition of the Zennor-operated Finlaggan gas processing business and has grown its inventory of contracted gas volumes since taking operatorship of the SAGE system. The SAGE system now transports and processes gas from over 40 fields across the UK and Norwegian sectors of the North Sea.
Jim Halliday, Chief Executive of Ancala Midstream, says: “I am delighted to welcome Eric and Nick to the Ancala Midstream team. They bring a wealth of oil and gas industry
Belfast-based tech firm Cloudsmith has closed an equity investment round of GBP2.1 million led by Frontline Ventures and co-investors MMC Ventures, with local involvement by Techstart Ventures through its Invest NI fund, Techstart.
Cloudsmith’s Software-as-a-Service (SaaS) offers an advanced logistics platform for software developers, operators and vendors, who need to secure, manage and accelerate their product development and distribution. It distributes millions of artifacts on behalf of its global customer base spanning every time zone in almost every continent.
The seed round takes place after a pre-seed investment earlier in the year, and will be used to ramp-up Cloudsmith’s R&D
Aliter Capital has completed a transaction which will see Sponge UK (Sponge), a custom digital learning solutions specialist, coming together with Glasgow-based Bolt Learning (Bolt) to create a new player in the learning technology sector.
Sponge designs and develops bespoke digital learning solutions, including eLearning, learning games, motion graphics, interactive video and immersive technologies (such as VR and AR) and blended learning solutions. Sponge works with some of the world’s largest brands and its solutions are used in more than 124 countries worldwide, with capability to translate into over 200 languages.
Bolt was acquired by Aliter in June 2019 and
Foresight Group has made a GBP749,000 growth capital investment into Promethean Particles (Promethean), a company specialising in the manufacturing of nanomaterials.
The finance boost will allow the firm to create new jobs, scale its production capabilities and enter untapped global markets.
The investment has been made using finance from the Midlands Engine Investment Fund and is part of a GBP1.25 million funding round led by Foresight and supported by the University of Nottingham, East Midlands Early Growth Fund (managed by the British Business Financial Services), and other existing investors.
Promethean was founded in 2007 as a spin-out from the University
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