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LMS Capital has sold its majority stake in UK IT services business 365IT to CORETX Holdings, a mid-market network, cloud and IT managed services provider.
Under the terms of the acquisition the enterprise value of 365IT was agreed at GBP5.4 million, which after adjusting for net debt of GBP800,000 results in an equity value of GBP4.6 million, to be settled through a combination of cash and shares.
LMS' share of the equity value is GBP4.1 million. LMS has received gross cash proceeds of GBP1.1 million plus 9,826,400 shares in CORETX having a value of GBP3 million based on a
Street Contxt, a fintech company that helps brokerages, independent research providers and asset managers distribute, manage, unbundle and value research, has secured an investment by a funding consortium led by existing investor Joe Lonsdale of 8VC and including Point72 Ventures.
The round also includes substantial contributions from Palm Drive Capital, a New York-based VC firm that helps build strategic relationships in the Greater China Region; Portag3 Ventures, a member of the Power Financial Corporation group of companies; and other unnamed funds and industry veterans, which brings total funding raised to date to USD15 million.
Additional institutional participants in
Cairngorm Capital Partners has closed its second fund – Cairngorm Capital II – at its GBP107.5 million hard cap.
The fund, which was oversubscribed, is now fully operational.
Cairngorm Capital has been backed by a consortium of long-term, international institutional investors, consisting of several prestigious European funds of funds and US university endowments.
Each of the institutional investors in its first fund increased their commitment to Fund II. In line with Cairngorm Capital’s investment philosophy, a significant investment was made by the firm’s principals.
The launch of the second fund continues Cairngorm Capital’s expansion of its business.
Snowflake Computing, a data warehouse built for the cloud, has closed USD100 million in growth funding led by ICONIQ Capital and accompanied by Madrona Venture Group.
Snowflake's Series D round also includes all of Snowflake's existing funding partners: Altimeter Capital, Redpoint Ventures, Sutter Hill Ventures and Wing Ventures.
Since its founding in 2012, Snowflake has raised a total of USD205 million in funding.
The funding will help Snowflake execute new and existing strategies, including: expanding current operations across the US and UK, and establishing Snowflake operations across other EU nations and Asia Pacific; growing Snowflake's engineering team, with
Ipes, a provider of outsourced services to private equity firms in Europe, is providing administration services to HgCapital and has supported its recent close of the HgCapital 8 Fund and, separately, a first and final close on The Mercury 2 Fund.
Both closing are at their respective hard capitalisations raising a total of GBP3.1 billion.
Both funds were significantly oversubscribed and received strong support from existing investors.
HgCapital is currently partnering in 30 investments across the larger buyout and Mercury funds, with examples including Visma, IRIS, JLA, Sovos Compliance and CogitalGroup.
Barry McClay, Ipes head of fund
Alternative credit investment company Crescent Capital Group has appointed Kenneth McRay and Glynell Bradley as senior vice presidents in investor relations.
McRay will focus on expanding the firm’s business development efforts across institutional investors, and Bradley will further enhance Crescent Capital’s relationships with consultants and gatekeepers.
McRay brings more than 20 years of experience in the financial industry. He joins Crescent Capital from Pinebridge Investments where he was a senior vice president in institutional sales and marketing. Prior to that, he was vice president at Deutsche Bank and also served at Rogerscasey and Ernst & Young.
Bradley has
Atos, a group of specialist orthopaedic clinics, is moving ahead with its growth and expansion strategy announced last summer by taking over OrthoParc clinic in Cologne.
This new acquisition, plus the acquisition of StarMed clinic in Munich in December 2016, increases its total number of clinic beds by more than 20 per cent.
Atos and OrthoParc have agreed not to disclose financial details of the transaction.
“OrthoParc allows us to expand our regional presence in North Rhine-Westphalia,” says Martin von Hummel, managing director of Atos. “We’re adding to our existing network by partnering with clinics which share Atos’
Monroe Capital has acted as sole lead arranger and administrative agent on the funding of a USD50 million unitranche credit facility to support the acquisition of Viteos Fund Services by private equity sponsor Public Pension Capital, together with FiveW Capital and Viteos management.
The Viteos management team will continue to lead the company.
Founded in 2003 and based in Somerset, New Jersey, Viteos provides customised straight-through-processing and integrates post-trade operations for the investment management industry in the US, Europe and Asia.
The company provides shadow-accounting services and a full range of middle- and back-office outsourcing through its 500+
Medical Imaging Partnership (MIP), a diagnostic imaging provider, has completed the acquisition of the MRI business and the transfer of staff of Nuada Medical, based at 45 Queen Anne Street in London, for an undisclosed sum.
MIP has assumed the lease for 45 Queen Anne Street and plans to build on the established reputation of the imaging services established by Nuada at the facility, relying on the 3T MRI scanner installed at the site.
It will continue to serve a range of complex imaging needs, particularly in multiparametric prostate scanning, neurological, and musculoskeletal imaging, and plans to expand the
Alternative asset management firm Constitution Capital has added Steven Shekane and Jonathan Williams to its credit team.
“We are very pleased to have Steve and John joining our team,” says Daniel M Cahill, managing partner of Constitution Capital. “Our people and culture are what drive our success. Steve and John each bring a combination of experience, intellectual curiosity and a passion for the middle market. These quality attributes sit at the heart of our firm’s foundation and success.”
Shekane joins Constitution Capital as a managing director and brings over 16 years of industry experience, having most recently worked as
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