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Papier, a direct-to-consumer personalised stationery brand, has secured USD11 million in a Series B funding round led by venture capital firm Beringea.
The investment will enable Papier to accelerate its growth in the US, which already accounts for 15 per cent of the brand’s total revenues, as well as building on its collection of leading design collaborations and expanding its range of innovative products.
Existing investors Felix Capital (backers of Farfetch, Goop and Mejuri), JamJar Investments (the venture capital fund run by the Innocent Drinks founders) and Downing Ventures also participated in the round, which brought the total funds
Healthtech M&A activity saw an increase in the first half of 2019 with a healthy 100 deals inked (11 per cent more than in 2H 2018) and around USD8.3 billion in disclosed transaction value throughout the period, according to Hampleton Partners’ atest global Healthtech M&A Market Report.
Trailing 30-month median valuation multiples reached the highest levels in years, with EV/EBITDA climbing to 17.7x after the low of 13.7x in 2H 2018, and EV/S reaching 3.4x – a new record for healthtech.
Jonathan Simnett, director and healthtech specialist, Hampleton Partners, says: “M&A activity in the healthtech sector underlines a pressing
Attention all those currently in fundraising mode: this week’s newsletter has news of an upcoming webinar on 18 September focusing on industry best practices. Joining the discussion will be a selection of established and emerging managers including: Osman Qureshi, Managing Partner & Co-Founder First Alpha Energy Capital; Tatyana Kratunova, Product Strategy PE, FIS; Robert Spittler, Managing Director of the Silverfern Group and Ryan Parker, CFO, Mercato.
To find out what lessons they’ve learned from previous fund launches, what some of the best practices are for attracting the right LPs, and what role technology can play to improve the fundraising process,
London-based energy investment firm Exergy Capital has appointed Bob McGuire as a Senior Adviser to the firm.
McGuire, who joined Exergy in July, has previously held roles as head of Goldman Sachs’ and JPMorgan’s European energy and power groups, head of UK investment banking at JPMorgan and managing director and head of Europe at US private equity firm CCMP Capital. Most recently, he founded Longwing Partners in 2017, a China-focused financial advisory firm. In addition to his leadership positions at market-leading global investment banks and in the private equity industry, McGuire has gained extensive board experience in his distinguished career.
Avista Capital Partners (Avista), a private equity firm focused on growth-oriented healthcare businesses, has acquired GCM Holding Corporation (GCM) from May River.
Based in Silicon Valley, GCM is a leading outsourced manufacturer of high-precision components and assemblies, providing an integrated platform of manufacturing solutions primarily for the MedTech industry, as well as select Diversified Industrial end markets. Within MedTech, the Company manufactures products for high-growth segments such as robotic assisted surgery, radiotherapy, diagnostic technology, and other vital equipment.
GCM maintains strong and long-tenured relationships with many market-leading OEMs who value the Company’s strong capabilities in highly engineered and difficult
Ford Financial Fund has held the the closing of Ford Financial Fund III with over USD1 billion in commitments. Ford Financial Fund is a private equity fund focused on investments in community banks.
The fund is co-managed by Gerald J Ford and Carl B Webb, who are among the nation’s most experienced and successful investors in and operators of a broad range of financial services companies. The General Partner committed USD155 million of its own capital across Fund II and Fund III, which are both fully invested in Mechanics Bank. Fund II closed in May 2013.
Fund III closes in
Middle market private equity firm Freeman Spogli & Co has held the closing of FS Equity Partners VIII (Fund VIII) at its hard cap of USD1.85 billion in capital commitments.
Fund VIII is the successor fund to FS Equity Partners VII, which closed on total commitments of USD1.3 billion. Commitments to Fund VIII came from a diverse group of public and private pension funds, insurance companies, endowments, foundations, financial institutions and family offices.
“We are grateful and humbled to have received such a high level of interest for Fund VIII,” says Freeman Spogli Co-Founder and Co-Chairman, Ron Spogli. “Our team is deeply appreciative of the
Investcorp, a global provider and manager of alternative investment products, has finalised its acquisition of a majority interest in CM Investment Partners (CMIP), which acts as the investment adviser to Investcorp Credit Management BDC, (formerly known as CM Finance Inc).
The transaction was first announced in June 2019. Investcorp Credit Management BDC, a specialty finance company that has elected to be regulated as a business development company (BDC), invests primarily in the debt of US middle-market companies. Additional terms of the transaction have not been disclosed.
Under the deal, CMIP will form part of Investcorp’s Credit Management (ICM) business,
Mesirow Financial has acted as the exclusive financial advisor to Vanguard Packaging, Advanced Logistics & Fulfillment (ALF) and Great Plains Packaging (collectively Vanguard) on its investment from Dunes Point Capital.
Headquartered in Kansas City, Missouri, Vanguard is an independently owned and operated manufacturer of high-graphic corrugated displays, retail-ready packaging, industrial packaging products as well as related fulfilllment and logistics services. Vanguard is a customer-centric company that provides a comprehensive one-stop solution. The company emphasises responsiveness, innovation, and the delivery of high-quality products and services through the use of sustainable business practices, establishing the Company as one of the most sustainable
MiddleGround Capital (MiddleGround), a private equity firm that makes control investments in business-to-business (B2B) industrial and specialty distribution companies in the North American lower middle market, has held the final close of Fund I, MiddleGround Capital I, above the fund’s hard cap at USD459.5 million.
MiddleGround Capital was formed in May of 2018 by John Stewart, Lauren Mulholland and Scot Duncan and partnered with Archean Capital Partners (Archean) as its anchor investor for fund I.
“We knew right away there was something special about the MiddleGround team,” says Rob Lazaroff, a Partner at Archean. “We spoke to over forty references
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