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LDF Group (LDF), a UK-based alternative provider of SME finance, has rebranded as White Oak UK following its acquisition by White Oak Global Advisors on 30 June 2018.
White Oak UK is excited to use the rebrand as an opportunity to reinforce its vision of significantly developing lending levels to UK smaller businesses, who still struggle when trying to access finance for their businesses.
This, coupled with a new focus on expanding operations to provide fast and convenient business finance to larger, middle-market companies across the UK draws on the wider group’s experience in mid-market solutions, providing White Oak
Ladenburg Thalmann Financial Services (Ladenburg) has made a strategic investment in Track Technologies (Track), a San Francisco-based digital provider of tax automation for independent contractors, freelancers, and other workers who generate self-employed income.
The investment, which is the first major outgrowth of Ladenburg’s recently launched Innovation Lab and its inaugural Innovation Symposium in May, enables Ladenburg to align new technology-enabled solutions to support the business growth of financial advisors affiliated with its five independent advisory and brokerage (IAB) subsidiary firms: Securities America, Triad Advisors, KMS Financial Services, Investacorp and Securities Service Network (SSN).
Adam Malamed, Executive Vice President and
Keyhaven Capital Partners (Keyhaven) has secured an equity funding of up to EUR260 million for DARAG, its legacy insurance acquirer, to support growth plans for the business.
Funding has been provided by Crestview Partners (Crestview) via its European partner Aleph Capital Partners (Aleph Capital).
DARAG, a Keyhaven portfolio company, specialises in taking inactive or discontinued (run-off) businesses from direct insurers and reinsurers. The Company has completed 26 transactions across Europe since its inception in 2009.
The new capital commitment follows a period of significant strategic development for DARAG, which has seen it grow substantially in the rapidly expanding
The Illinois Service Federal Savings and Loan Association (ISF Bank) – one of America’s leading black-owned lending institutions – is rebranding as GN Bank to align with its international banking operations. GN Bank internationally has over 330 branches.
“We want something different to come out of the South Side of Chicago,” says Dr Papa Kwesi Nduom, president of Groupe Nduom and chairman of ISF Bank. “We’re linking the South Side to the world through this traditional, black-owned bank.”
At a time when available lending capital is decreasing for black-owned businesses, GN Bank will become one of the few remaining
Guernsey Finance is set to take a broader role in the development of the island’s financial services sector through the permanent appointment of Dr Andy Sloan as Deputy Chief Executive, Strategy.
Sloan (pictured), has been Acting Director of Strategy on part-time secondment from the Guernsey Financial Services Commission for the past nine months. He now joins permanently to oversee development of jurisdictional-wide financial services strategy through Guernsey Finance in line with the role set out in the Committee for Economic Development’s recently approved Economic Vision.
Dominic Wheatley, Chief Executive of Guernsey Finance, says: “Dr Sloan complements the strong team
Accendo Capital has appointed Elise Auer as Director of Investor Relations. In her new role, Ms. Auer will direct business development activities for Accendo Capital and assume responsibility for ongoing communications and client service for existing fund investors.
Auer started her career in corporate finance and private equity investing and then in business development activities for alternative asset managers from new launches to established multibillion organisations – most recently at Broadwalk Asset Management and Galena Asset Management, part of Trafigura.
She is an active Member of the Executive Committee of the CAIA Association in London. Auer is a native of
UK mid-market private equity invester LDC has promoted Dan Smith to investment director, following a year of successful investments and exits.
Since joining LDC in August 2015, Smith has been involved in a number of the region’s most notable transactions. This has included supporting the firm’s GBP31.8 million investment in NBS, the commercial arm of the Royal Institute of British Architects (RIBA), in addition to the management buyouts of Skipton-headquartered Sigmat and Knaresborough-based Pelsis, the leading European manufacturer of branded pest control products.
Smith also played an important role in LDC’s reinvestment in cycling parts and accessories distributor ZyroFisher,
OFS Capital Corporation (NASDAQ: OFS) and Ironwood Capital have a made a debt investment to support a recapitalisation of Performance Team, a Los Angeles-based third-party logistics and distribution provider, offering consolidation, warehousing, distribution and transportation services across the US.
“OFS Capital has a long history of partnering with owners and management teams of family-owned companies to help them grow their businesses. We are excited to partner with Performance Team, a second-generation family-owned and operated company, to enable the buy-out of an existing equity owner and be a part of the Company’s continued growth and success,” says OFS Capital Senior Managing Director
Pamlico Capital is to make a strategic investment in Personify, a provider of technology solutions for non-profit organisations.
Terms of the transaction have not been disclosed.
“This marks a new chapter for Personify, and the next step in creating a leading Constituent Management and Engagement (CME) Platform,” says Eric Thurston, President and CEO of Personify. “Our vision is to help associations, charities and health and wellness organizations manage their members, fundraisers, donors and constituents by continuing to innovate and develop market-leading solutions for our clients. This partnership with Pamlico gives us the opportunity to accelerate our plans to create
Calculus Capital, an Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) specialist, has invested GBP2 million in software company CloudTrade.
CloudTrade’s technology – which has been patented in Europe, the US and Australia – enables companies to automatically process electronic documents such as invoices and sales orders received by email.
The software extracts information from a human-readable, machine-generated document, such as a PDF, validates it and then converts it into a data file that is fed directly into the company’s accounting system, without human intervention.
This automation enables companies to make significant savings on administrative costs and
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