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An affiliate of CenterGate Capital (CenterGate), an Austin-based private equity investment firm, has made an investment in Mid-State Industrial Maintenance (Mid-State), a provider of on-site and off-site industrial maintenance and service solutions.
Established in 1973 and headquartered in Lakeland, Florida, Mid-State serves a wide customer base across the southeastern United States, spanning the chemical processing, phosphate mining, power generation, and building products industries. CEO Jeff Clyne will continue to lead Mid-State and serve on its Board of Directors.
“We are excited about our partnership with CenterGate and what it means for our employees and customers,” says Clyne. “CenterGate’s investment
The market for private equity (PE) collateralised fund obligations (CFOs) continues to gain traction post-financial crisis, according to Fitch Ratings. Since the first post-financial crisis CFO deal came to market in 2014, five transactions with a face value of USD3.4 billion have been issued.
“The resurgence of the PE CFO market coincides with the growth of the secondaries market for PE interests overall,” says Greg Fayvilevich, Senior Director, Fitch Ratings. “Insurance sponsors, secondaries funds, and various limited partners are increasingly looking to PE CFOs for regulatory capital relief, alternative funding sources, PE portfolio management or to generate liquidity.”
PE
Kuber Ventures, an alternative investment platform specialising in EIS and SEIS, has added three new funds available to individual investors and advisers building diversified tax efficient portfolios on behalf of their clients.
The three new funds announced by Kuber are the Evergreen EIS Fund from EMV Capital (EMVC), Vala EIS Portfolio and Velocity SEIS Technology Fund 4, each of which allows investment into early stage, knowledge-intensive companies.
The EMVC Evergreen EIS Fund invests in B2B businesses built on core technological innovations generating tangible economic value for the UK economy. It will leverage EMVC’s corporate network to validate the opportunities
HIG Capital (HIG) has completed the sale of its portfolio company Caraustar Industries (Caraustar) to Greif, Inc for USD1.8 billion.
Headquartered in Austell, GA, Caraustar is a specialist in the production of uncoated recycled paperboard (URB) and coated recycled paperboard (CRB), with a variety of applications that include tubes and cores and a diverse mix of specialty products. Additionally, Caraustar is also one of the largest collectors and processors of recovered fibre in the United States. The Company services its diversified customer base through a large network of facilities across North America.
HIG acquired Caraustar in May 2013 in
athenahealth, a provider of network-enabled services for hospital and ambulatory customers nationwide, has been acquired by an affiliate of Veritas Capital (Veritas) and Evergreen Coast Capital (Evergreen) for approximately USD5.7 billion in cash.
Virence Health (Virence), the former GE Healthcare Value-based Care assets that Veritas acquired in 2018, will combine with athenahealth under the athenahealth name and brand. The combined company will be led by Virence Chairman and Chief Executive Officer Bob Segert and an executive leadership team comprised of executives from both companies, and will be headquartered on the athenahealth campus in Watertown, Massachusetts. As part of the transaction,
Investcorp has acquired a controlling stake in Revature, a technology talent development company.
The terms of the transaction have not been disclosed.
Revature, one of the largest employers of university graduates in the US, offers no-cost coding immersion programs that are the first in the industry to address the growing technology skills gap. Revature’s unique model provides turn-key talent acquisition services for its Fortune 500 and consulting clients. For customers, Revature recruits, develops and deploys enterprise-ready technology talent that enables these corporates to succeed. For university graduates, Revature provides coding immersion programs that offer pathways to building careers as
Private investment firm VSS’ portfolio company TCC, a Los Angeles-based technology and services provider to corporate human resources and tax departments, has acquired uConfirm, an independent provider of income and employment verification services.
Financial terms of the transaction have not been disclosed.
uConfirm provides employee verification data to third parties such as lenders, pre-employment screening providers, property managers, social service agencies and other organisations. The company provides a secure platform that reduces the burden on employers and employees alike.
“uConfirm’s advanced data platform is a complementary fit with TCC’s comprehensive tax credit and incentive solutions business,” says Jeffrey
Flex Fleet Rental, a provider of medium-term truck rentals to commercial customers, has completed a strategic transaction with Waterfall Asset Management’s private equity platform. TRP Capital Partners (TRP), a transportation-focused private equity firm, is also making a strategic investment alongside Waterfall.
Flex Fleet Rental’s existing management team will continue to lead the company’s operations, led by CEO Michael Kraupp and Vice President Brian Goldhardt.
“Since 2013 we have invested in our team and processes to build a national rental fleet of light and medium-duty trucks, and we are proud of the growth in the business and the customer relationships we have earned
Jersey Finance has appointed experienced financial services professional Joe Moynihan as its new CEO.
Moynihan (pictured), starts in his new position on 18 February and is taking over the reins from Geoff Cook, who is leaving after twelve years in the role.
An experienced financial services professional with a longstanding career in Jersey in both the private and public sector, Moynihan spent the majority of his executive career with AIB, latterly as the Chief Executive Officer of the Jersey and Isle of Man offices.
He then spent just under four years with the Government of Jersey as Director
International law firm CMS has appointed Ed Kingsbury as a partner in the firm’s funds practice in London.
Kingsbury, who joins from Dechert, has significant experience advising a range of clients on investment funds and investment management arrangements.
Kingsbury has a particular interest in private equity, venture capital and credit funds, and acts for a range of investment firms and investors. His experience includes advising on investment funds through their life cycle, carried interest arrangements, ongoing house and regulatory issues, cornerstone investments into funds, complex secondaries, investment manager-related mergers and acquisitions and merging and de-merging asset managers.
He
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