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HC Technologies, a Chicago-based principal trading firm with offices in New York City and London, has launched a private equity arm, HC Private Investments (HCPI).
HCPI will make investments in lower-middle market manufacturing companies ranging in size from USD10 to USD100 million in enterprise value focused on consumer and industrial markets. Typical equity investments will range in size between USD5 million and USD25 million.
Led by veteran middle market investors, John P Kelly and Matthew J Moran, HCPI was founded as an alternative to the traditional private equity model given its highly patient and flexible capital base and long-term investment
CVC Capital Partners Fund VI has agreed to acquire Etraveli, the global flight-centric online travel agency (OTA), from ProSiebenSat.1. The agreement is subject to approval by the relevant authorities.
Etraveli, which is based in Uppsala, Sweden, is a global e-commerce platform for flight tickets (eg Gotogate, Supersaver/Supersavertravel, Seat24, Flygresor), combining a leading position in the Nordics with a fast-growing international business. The Company today fulfils over EUR2 billion in transactions annually across almost 50 countries, by delivering attractively priced flight content through its proprietary technology platform.
Lorne Somerville, Partner and Head of TMT at CVC, says: “The online travel
Permira Debt Managers (PDM), the debt management and advisory arm of Permira, has reached a final close on its third direct lending fund, Permira Credit Solutions III, with commitments of circa EUR1.7 billion. Including leverage the Fund will have investable capital of circa EUR2.1 billion.
PCS3 is taking advantage of the rapidly growing and highly attractive opportunity for direct lending in Europe. A structural shift in European credit markets, catalysed by the financial crisis of 2008, continues to drive a retrenchment of traditional sources of debt capital. This has created a significant funding gap that has driven strong demand for
Now Healthcare Group (NHG) has received a minority investment from health cash plan provider Medicash of GBP4 million.
Founded in 2015 by Lee Dentith, NHG provides digital healthcare services through its brands Dr Now, Now GP and Now Pharmacy. This exciting new partnership with Medicash will enable the business to further develop its artificial intelligence and machine learning offering through its mobile app products and its online pharmacy, enabling the faster development of auto diagnoses and medicine adherence solutions.
The company intends to further develop its hugely successful private medical insurance offering and also its soon-to-be launched new NHS
Falcon Group has secured USD100M in funding from KKR’s credit platform (KKR Credit).
With nine offices worldwide, Falcon continues to see widespread and growing demand from corporates looking for innovative funding solutions. The company now operates in over 30 countries and across 15 industries having deployed over USD8 billion in the last three years. The inaugural deal – in line with the company’s three-year strategic plan – will serve to both diversify the company’s funding sources and provide additional capacity to scale up its financing capacity rapidly in coming years.
“This investment from KKR Credit – one of the
BMO Global Asset Management EMEA Private Equity (BMO PE) has completed the first close of Castle Mount with EUR60m in commitments from a range of institutional, wholesale and high net worth individual clients from Germany, the UK and Canada.
Castle Mount LP is a multi-manager co-investment fund, investing in European lower mid-market buyouts with a focus on prime managers. It represents the first opportunity for investors to gain direct exposure to BMO PE’s co-investment activity. The Fund has a number of live deals under consideration for deployment of assets. The investment portfolio will consist of 15 to 25 co-investments in
Cairngorm Capital Partners’s (Cairngorm Capital) portfolio company Stevenswood Trade Centres Limited (Stevenswood) has acquired Sameday Holdings Limited (Sameday).
This transaction, which is highly geographically complementary, accelerates Stevenswood’s strategy to develop a national network of trade counters. The new combined group will continue to be headquarted in Livingston and will have 37 branches across the UK, generating revenues of over GBP45 million and employing over 180 people.
Established in 2006, Sameday operates a network of seven counters in the west of England, from Bristol to Reading, distributing windows, doors and conservatory roofs to the installer market and employing 20 people.
83North, an international venture capital firm with operations in Europe and Israel, has appointed Joe Tucci as a special Adviser.
Until September 2016, Tucci was the CEO and Chairman of EMC. He joined EMC in 2000 and led it to become one of the world’s leading and most respected technology companies. In 2016, EMCmerged with Dell, a global IT company. The deal was one of the biggest technology mergers in recent history and valued EMC at USD67 billion. Tucci stepped down from the organisation following the closure of the deal. Today, he is the Co-CEO and Co-Chairman of GTY Technology
BGF (Business Growth Fund) has invested an initial GBP2 million in Milk Visual Effects, an Oscar winning independent visual effects (VFX) company which creates innovative and complex visual effects for high-end television and feature films.
Milk will use the funding to expand its studios; invest in new technical equipment and R&D and hire the best industry talent, significantly increasing its capacity to work with the world’s leading feature film, high-end television and digital content producers such as Warner Bros., the BBC and Netflix.
Milk was founded by five VFX supervisors and producers in 2013, including current CEO and visual
Celanese Corporation (NYSE:CE), a global technology and specialty materials company, and funds managed by Blackstone (NYSE:BX), one of the world’s leading investment firms, are to form a joint venture (JV) that will create a global acetate tow supplier.
Celanese and Blackstone will own 70 per cent and 30 per cent of the JV, respectively.
Under the terms of the agreement, Celanese will contribute its Cellulose Derivatives business unit, including its equity interest in existing JVs with China National Tobacco Corporation, and Blackstone will contribute its Rhodia Acetow business unit, which it recently acquired from Solvay. The new company is
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