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Frontier Development Capital (FDC), an established fund manager operating debt funds in England, has relocated its Birmingham headquarters.
The firm has moved its operations and 25 staff from Baskerville House to a 5,246 sq ft office on 45 Church Street in the heart of the city’s business district.
FDC provides access to investments of up to GBP10million, deploying flexible capital to mid-market businesses across England. After making five new staff appointments in the last 12 months, the relocation will provide the firm with the space it needs to continue its expansion.
The move follows several high-profile deals such
vasopharm, a private biopharmaceutical company developing a new treatment for traumatic brain injury (TBI), has completed a EUR9.5 million financing co-led by HeidelbergCapital Private Equity and EF Investments.
Existing investors Bayern Kapital, Future Capital, clients of Hanseatic Asset Management and Ringtons Holdings also participated in the round. In addition, vasopharm welcomed Creathor Ventures as new investor and Christian Leikert, Partner at Creathor Ventures, joins vasopharm’s board of directors.
vasopharm’s lead product, Ronopterin (VAS203), is in Phase III development for the treatment of moderately to severely injured closed head TBI patients. TBI is the leading cause of death and disability
Private equity firm Permira is to acquire a majority stake in sustainable fashion brand Reformation. As part of the transaction, Yael Aflalo will remain Chief Executive Officer and a significant owner of the company, and Hali Borenstein will remain as President.
Headquartered in Los Angeles and founded in 2009, Reformation designs and manufactures limited edition collections using sustainable methods and materials. The company puts sustainability at the core of everything it does, making effortless silhouettes that celebrate the feminine figure while catering to consumers who want to minimise their ecological footprint. From running a sustainable factory in Los Angeles to
Wren Sterling has acquired TD Armstrong Financial Planning Limited (T D Armstrong), a Dunfermline-based independent financial planning business.
The deal will secure around GBP116 million of assets under advice, taking Wren Sterling’s total assets under advice to GBP3.3 billion.
Wren Sterling has over 100 advisers based in eight regional offices across the UK. The firm specialises in all aspects of savings, investments and retirement planning, and offers pensions and benefits advice to corporate clients.
Wren Sterling was backed by Palatine Private Equity in April 2015. This is the third bolt-on acquisition Palatine has supported following the acquisitions of
Audax Private Equity (Audax) has entered into a definitive agreement to acquire Aspen Surgical (Aspen) a business unit comprised of certain surgical consumable products, from Hillrom.
The business is a leading manufacturer of branded and private label single-use surgical products including scalpels, blades, wound care, fluid control, and other patient safety surgical products, founded in 1999 and headquartered in Caledonia, MI. The Company operates two facilities with approximately 500 employees in Caledonia, MI and Las Piedras, Puerto Rico.
Young Lee, Managing Director, Audax Group, says: “We have acquired a set of products and brands that we believe are best in
TrustArc, a provider of privacy management solutions, has received a USD70 million Series D growth investment led by private equity firm, Bregal Sagemount.
Existing investors Accel Partners, Baseline Ventures, DAG Ventures, Icon Ventures and Industry Ventures will continue to retain significant stakes in the business.
“We are very excited to bring on Sagemount as a strategic and financial partner. Given their prior success investing in market-leading, high-growth technology companies, we believe they are the right partner for the next phase of our growth,” says Chris Babel, CEO of TrustArc. “We have been building on our two decades of privacy leadership
SouthStar Urgent Care, a provider of urgent care services and clinics in Louisiana and portfolio company of Shore Capital Partners (Shore Capital), a lower middle market healthcare private equity firm, has appointed Laura Miller as President and Chief Operating Officer of the Company.
This leadership change, supported by the SouthStar Urgent Care Board of Directors, took effect in spring of 2019. Former Chief Executive Officer Clayt Hulin will continue to support SouthStar Urgent Care’s mission as an Executive Advisor.
Miller joined the SouthStar team in November 2018 as Chief Operating Officer. Miller brings more than 20 years of executive
Specialist industrial investor Rubicon Partners has acquired Park Sheet Metal, a Coventry-based manufacturer of complex sheet metal components from from its owner, Stephen Payne.
Founded by the Payne family in 1947, PSM has established a market leading position as a supplier of prototype tooling and assemblies and low volume production of body-in-white components for the niche automotive sector. Its clients include prestige and performance automotive OEMs including Aston Martin, Bentley and McLaren. PSM is well placed to grow in line with global demand for high-luxury cars and the proliferation of new electric vehicles.
Rubicon Partners was advised by the
Bridges Fund Management (Bridges) has held a final close on Social Outcomes Fund II, its second fund dedicated to social outcomes contracts, with commitments of GBP35 million.
Social outcomes contracts are increasingly used by Government to commission vital social services from mission-driven providers. Instead of the traditional ‘fee for service’ approach, these contracts are structured so that the commissioner pays directly for improvements in social outcomes. This gives the provider more freedom to design and adapt the programme, to ensure better outcomes for some of the most vulnerable people in society.
Bridges works with commissioners and providers to structure
In this week’s newsletter, Elizabeth Pfeuti reports on the continued growth in co-investment activity. As Pfeuti reports, Harbourvest Partners has increased its annual co-investment commitments from USD200 million a decade ago to USD2-3 billion today. The article looks at the various upsides to this ever increasingly popular allocation method, which has led to a three-fold increase in deal value since 2013.
PE fundraising remains buoyant, broadly speaking, with Prospect Hill Growth Partners confirming it has closed its second fund with USD380 million; an USD80 million oversubscription. Overall, Europe’s alternatives industry has grown to EUR1.62 trillion according to new research by
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