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Hastings Equity Partners (Hastings), a private equity firm focused on investing in lower, middle-market energy services and equipment companies, has made its ninth Fund III platform investment, in Reach Wireline (Reach).
Based in Fort Worth, Texas, Reach is a leading provider of Cased Hole Wireline services in the Permian, Mid-Continent and Marcellus regions. Founded in 2017 by an experienced executive management team led by Chief Executive Officer Chris Payson, Reach is a technologically differentiated service provider that offers leading edge greaseless cable. The company specialises in extended laterals, highly deviated wells and complex completion designs. Reach maximises efficiencies for
Palatine Private Equity has continued to strengthen its offering in the responsible investment space with two new recruits to its returns-focused Impact Fund.
James Gregson joins the Manchester team as Investment Director, while Matt Coles has joined as Investment Manager in the London office.
Gregson joins from advisory firm BDO, where he spent 11 years, including seven in the M&A team advising clients on domestic and international transactions across a variety of sectors. He has particular mid-market expertise, advising on deals generally between GBP5m and GBP20m in value.
Coles previously worked at PwC for seven years, with four
Perilune Group has restructured into two separate entities, Perilune Capital, LLC and Perilune Private Family Services (PFS). The former will focus exclusively on investments, including real estate, hedge fund seeding, commercial and business aviation and private equity on behalf of its institutional and private investors, while PFS, the successor to the Perilune Group family office, will provide estate, tax planning and concierge services for select ultra high net worth families.
Perilune Capital is headed by Carey Robinson Wolchok (pictured), Chairman and Founder of the Perilune Group, which he formed in 2008 as a private investment partnership with initial backing from
DuPage Medical Group has closed the formation of a strategic partnership with funds managed by the private equity group Ares Management.
The investment by Ares will enable continued support for growth initiatives across the entire organisation, including DMG’s practice management company, DMG Practice Management Solutions, and DMG’s subsidiary, Boncura Health Solutions. The USD1.45 billion transaction closed on 15 August, 2017.
Under the terms of the transaction, DMG’s physician group, DuPage Medical Group Ltd, will remain 100 per cent physician-owned-and-directed, and DMG physicians will retain a significant ownership stake in the practice management company. As part of its investment, Ares
Deutsche Asset Management (Deutsche AM) has provided a EUR45 million mezzanine facility to Ares Management on two designer outlet centres located in the French cities of Troyes and Roubaix.
Andrea Vanni, Head of European Real Estate Debt Investments for Deutsche AM, says: “We are excited to be a part of the financing structure and to have supported Ares on such quality assets.”
Specialist lender Investec’s Growth & Acquisition Finance (GAF) team has made a senior hire to support its ambitions in the UK mid-market.
James Goût joins from Barclays to continue the expansion of the GAF business, which provides funding for entrepreneurs, management teams and private equity houses in the UK mid-market.
Known for its flexibility in structuring across the entire capital structure, offering revolving asset-based facilities, senior cash flow lending, mezzanine finance and minority equity, GAF places a strong emphasis on its partnerships and commercial approach to supporting growing businesses.
Goût joins from Barclays, where he has significant experience across the
NorthEdge Capital has invested in Bridge Farm Nurseries (Bridge Farm), a producer of ornamental plants, flowers and herbs in the UK, backing a management buyout from its family shareholders. It is the first deal for the firm’s recently opened Midlands office.
Founded in 1988 and headquartered in Spalding in Lincolnshire, Bridge Farm works with major UK supermarkets under the brand name Neame Lea, the 2017 UK Grower of the Year, where outdoor plants, flowers and herbs are of increasing importance as a category. Bridge Farm’s core supermarket customer base, which includes Tesco and Aldi, is growing faster than the overall
Round13 Capital, a Toronto-based venture capital firm led by Lavalife co-founder Bruce Croxon and seasoned technology investor John Eckert, has closed a CAD95 million fund to invest in growth stage Canadian companies.
Round13 has made three investments since the fund closed, primarily in early-stage B2B software companies including Statflo, Hubdoc, and TouchBistro. The team’s investments will be looking to fill the gap for startups in Canada needing up to CAD5 million in capital to drive sales and marketing.
“We launched Round13 because there aren’t enough venture firms led by seasoned entrepreneurs who have been in the trenches and successfully
Options, a provider of cloud-enabled managed services to the global capital markets, has secured a significant investment from Bregal Sagemount, a New York-based private equity firm focused on growth-oriented investments.
The transaction, which sees Bregal Sagemount invest nearly USD100 million in Options, will enable the firm’s executive team to pursue strategic growth initiatives, invest further in platform innovations, and expand Options’ reach in key financial centres globally.
Options, founded in 1993 as a hedge fund technology services provider, has enjoyed a period of rapid growth in recent years and now finds itself as an established market leader in outsourced
Private equity deal volumes and valuations are beginning to diverge with the pace of PE investment activity slowing year over year while valuations have climbed to a 10-year high, according to Murray Devine’s inaugural H1 Private Equity Valuations Report.
The report, which analyses data provide by PitchBook to examine trends in PE deal volume and valuation multiples for the first six months of 2017, reveals that this is a tendency more common near the end of a market cycle when sponsors typically target high-quality asset with defensible market positions and lower-quality businesses may fail to trade hands due to mismatched
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