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Middle-market private equity firm Pamlico Capital (Pamlico) has closed the previously announced sale of its portfolio company Dexter & Chaney (Dexter + Chaney) to Viewpoint Construction Software (Viewpoint). Terms of the transaction have not been disclosed.
Headquartered in Seattle, Washington and founded in 1981, Dexter + Chaney is a provider of financial and operational management software for construction contractors. The Company’s product, Spectrum Construction Software, is used by more than 1,100 contractors. Pamlico acquired Dexter + Chaney in partnership with management in December 2014. Since that time, Pamlico has helped recruit a new management team, adding senior executives including Brian
ArchOver, a peer-to-peer (P2P) business lending platform, has become a member of UK Finance, the newly created trade body for financial organisations in the UK.
Following its acceptance into the Asset-Based Finance Association (ABFA) last month, ArchOver will represent the interests of peer-to-peer lenders in the new group.
UK Finance will combine six financial trade bodies, including the British Bankers Association, Payments UK and the ABFA, and will act as a united voice lobbying government on standards in the financial sector. ArchOver is committed to a highly secure model of lending, with its Secured & Insured and Secured &
An investment partnership advised by Permira is to acquire a strategic equity stake in Klarna Bank AB which currently serves 60 million consumers and 70,000 merchants.
Permira is a global investment firm which advises funds and accounts with a total committed capital of circa EUR32 billion. Permira focuses on identifying companies for long-term investment, combining local knowledge and global expertise to help them grow sustainably and realise their full potential.
The investment partnership will acquire shares from existing shareholders General Atlantic, DST Global and Niklas Adalberth, upon receipt of approval from the Swedish Financial Supervisory Authority (Finansinspektionen). As a
Luke McDougall, Leveraged Finance Partner at Paul Hastings comments on the news that leveraged finance issued so far this year in Europe, the Middle East and Africa (EMEA) has already surpassed last year’s total, reaching a record USD143 billion in the first half of 2017, which is nearly 8 per cent higher than in the whole of 2016…
The auction pipeline for the second half of the year is looking good. The activity level we have seen on the buy side, including on CLO formation, indicates this strong demand will continue.
However, the incoming European leveraged lending guidelines
Machine intelligence company, Graphcore, has secured USD30 million in a Series B funding round led by Atomico.
The new funding comes as the company prepares to ship its first Intelligence Processing Unit (IPU) hardware to customers later this year, with scale-up production for enterprise datacentres and cloud environments in 2018.
The Series B round is dedicated to accelerating roadmap development and building a community of developers and partners around its PoplarÔ graph framework software, establishing Graphcore as the leader in the market for machine intelligence processors.
Nigel Toon, CEO at Graphcore, says: “Atomico has a genuinely deep understanding
Dah Chong Hong Holdings Limited (DCH) is to acquire 80 per cent of Zhejiang Ciji, 100 per cent of Yuyao Ciji, 100 per cent of Ciji Xinghang and 80 per cent of Cixi Chiao.
These are acquisitions of luxury brand dealerships in the Zhejiang province and include two existing Mercedes-Benz dealerships (in Cixi and Ninghai), three authorisations for new Mercedes-Benz dealerships (in Yuyao, Fenghau and Cixi) and one existing Audi dealership (in Cixi) for a total of RMB920,800,000, and approximately HKD1,060,945,760. The deal will be funded by internally-generated cash and bank loans.
DCH, a majority-owned subsidiary of CITIC Limited,
Consumer-focused private equity firm Fireman Capital Partners (FCP) has promoted Chris Akelman to Principal and Ekta Sharma to Vice President.
“We are pleased to announce the promotion of two highly talented members of the Fireman Capital team,” says Dan Fireman, Managing Partner of FCP. “Both Chris and Ekta have been instrumental in the success of our firm, and these promotions are a testament to their strong work-ethic, investment expertise and valuable insight. We look forward to their continued success.”
Since joining Fireman Capital Partners in 2012, Akelman has been responsible for evaluating and executing new investment opportunities and supporting
An affiliate of Sun Capital Partners has completed the sale of Creekstone Farms Premium Beef, a supplier of USDA-certified beef and pork products. Terms of the private transaction have not been disclosed.
The choice of food lovers across the world, Creekstone Farms supplies many of the nation’s top grocers and restaurants with a variety of high-quality meats, including Black Angus beef and antibiotic-free Duroc Pork. The Company also exports its products across Europe, Latin America, and Asia.
“We’re proud of our success building Creekstone Farms into a leading international provider of top-grade meats,” says Marc Leder, Co-CEO of Sun
Mid-market private equity firm Graphite Capital has acquired Random42, one of the largest global medical animation producers, from Vespa Capital.
Medical animation provides a graphic representation of disease mechanisms and the ways in which medical and pharmaceutical products interact with the human body.
Random42 provides high-quality medical animation and digital media services to the healthcare and pharmaceutical industry. It has expertise in 2D and 3D animation, Virtual and Augmented Reality production, interactive services and mobile application development.
As medical and pharmaceutical products become progressively more complicated, animations are needed more frequently to explain their function clearly and to
FinTech Studios, a cloud platform of AI-based financial information, FinTech apps and big-data analytic products operated in partnership with top FinTech startups, financial institutions, data providers and strategic partners, has raised USD1 million in Series Seed funding, led by KEC Ventures.
Jeff Parkinson, Managing Partner of KEC Ventures, will join the FinTech Studios board of directors.
FinTech Studios was founded in 2014 by Jim Tousignant, the Company’s CEO, who previously was co-founder and President of Multex, a leading online research and financial information platform that went public in 1999 and achieved a market cap of USD1.5 billion.
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