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The Credit Junction, a data-driven, asset-based lender for small and mid-sized businesses, has secured a USD23 million growth equity investment from Century Equity Partners (Century).
Century focuses on making investments in lower middle market companies that have demonstrated value propositions to the financial services industry. This investment provides The Credit Junction with growth capital to expand its ability to provide financing solutions to Supply Chain America, as well as commercialise its proprietary data and risk analytics platform.
This marks the second meaningful financing announcement for The Credit Junction in recent months, as the company secured a USD150 million credit
EOS Investment Management (EOS IM), an independent London-based AIFM, has acquired Neronobile, a family-founded coffee company that has enjoyed sustained growth in Europe.
The transaction sees EOS IM’s Private Equity Fund acquire 67 per cent of the company Neronobile whilst the existing shareholders maintain 33 per cent, thus maximising business continuity.
The deal is the third Italian SME acquisition by EOS IM in less than a year and the fourth since the launch of the private equity fund in 2016 with the acquisition of Poplast, a company specialising in packaging with ecological credentials, which has already grown 40
Guinness Asset Management has led a GBP1.7m investment for a minority stake in Pasta Evangelists, which is disrupting the UK’s GBP3.8 billion pasta sector, delivering fresh, authentically Italian artisan pasta direct to consumers’ homes across the UK.
Founded in October 2016 by Genoa native Alessandro Savelli and co-founders James McArthur and Chris Rennoldson, Pasta Evangelists is on a mission to become the authority in fresh pasta in the UK. The company believes premium pasta and authentic Italian pasta sauces are two categories that have seen the least innovation in the food industry in the past decade.
The GBP1.7 million
Private equity firm SWEN Capital Partners has closed fundraising for its third infrastructure fund, SWEN Infra Multi-Select 3, EUR455 million from well-regarded European investors, including pension funds, mutual and other insurance companies, banks and private clients.
This success demonstrates investors’ confidence in SWEN Capital Partners’ investment strategy, which features a solid track-record in infrastructure going back almost 10 years.
Its strategy has been successful in its two previous funds, with investments via funds (primary and secondary deals) and directly in infrastructure assets. This third fund will be invested mainly in Europe in transport, energy, communication and social infrastructure, hence,
Global law firm Ropes & Gray has named 24 attorneys as partners of the firm, while six attorneys have been named counsel, effective 1 November, in the largest round of partner and counsel promotions in the firm’s 153-year history.
The roster of new partners includes hedge fund, private equity and investment management specialists.
The new partners and counsel of the firm reflect Ropes & Gray’s diversity, global footprint, and dedication to developing and advancing its talent. They are based in nine offices on three continents, including Asia, Europe and North America, and nearly half of the new partners are women,
Centaur Fund Services and Circle Partners are the latest firms to join the North American Fund Administration Association (NAFAA), a representative group for the alternative investment fund administration industry.
“We are delighted to have Centaur and Circle as the latest members of the association,” says founding director, Chris Meader. “November will see the launch of the NAFAA working groups whose initial focus will be to discuss and define best practices and standards. We are thrilled to have these global firms collaborating with our existing members to promote the best interests of the alternative fund administration industry.”
Des Johnson (pictured),
Bessemer Ventures has launched its tenth fund, BVP X, which at USD1.85 billion is slightly larger than the company’s earlier funds, but it will adopt the same approach that has seen a total of 122 Bessemer-backed companies go public to date.
BVP X will look to invest early in promising technology companies and stick with those organisations and their leaders at every stage of the company’s growth. Each of Bessemer’s 14 partners has the decision-making autonomy to provide entrepreneurs with their first USD1 million (or USD50,000) as well as support late-stage companies with a USD100 million investment.
Bessemer says:
Sheridan Capital Partners (Sheridan) has made an investment in Empower Physical Therapy (Empower PT), a physical therapy practice management company.
Empower PT is the by-product of a dedicated group of physical therapy founder-owners unifying behind a shared vision – empowering health and wellbeing through exceptional, unmatched care. Empower PT is headquartered in Phoenix, Arizona, and currently operates outpatient physical therapy clinics across the Southwest US.
“Empower PT brings together a team of high-quality, passionate, and community-oriented therapists all focused on strengthening lives through helping others,” says Steve DiPaola, Chief Executive Officer of Empower Physical Therapy. “We are fortunate to partner
WH Smith is to acquire InMotion, a North American airport-based retailer of digital travel accessories, for USD198 million (GBP155 million).
Established in 1998, InMotion operates a concession portfolio of 114 stores across 43 airports in the United States, with a presence in nine of the top ten, and 22 of the top 25 busiest US airports.
InMotion sells a range of digital accessories includes premium headphones and earbuds, travel accessories, mobile power, portable speakers and action cameras. In the calendar year to date, the company has delivered like-for-like sales growth of 13 per cent, following like-for-like growth of 12
The International Private Equity and Venture Capital Valuation Guidelines Board (IPEV Board) has published draft amendments to the International Private Equity and Venture Capital Valuation Guidelines for consultation.
The IPEV Valuation Guidelines are reviewed periodically by the IPEV Board to ensure they continue to promote best practice when valuing investments and to incorporate changes to accounting standards. The Valuation Guidelines were last updated in 2015 and this year’s update reflects the continued experience of industry practitioners applying IFRS 13 and ASC Topic 820 (US GAAP), as well as incorporating other valuation guidance such as that reflected in the working draft of
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