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Shore Capital Partners, a healthcare-focused private equity firm, has sold ClearPath Diagnostics, a provider of laboratory diagnostic services in the north-eastern US, to Laboratory Corporation of America (LabCorp).
Shore Capital partnered with ClearPath’s founding pathologists, Dr Michael Jozefczyk and Dr Michael Mazur, to drive the company’s expansion beyond the local Syracuse, New York market.
Together, Shore Capital and ClearPath executed a growth strategy that extended the company’s geographic reach to four states and expanded the service menu to include new cutting-edge tests.
The growth was driven by organic initiatives as ClearPath expanded the sales force from one professional
The Riverside Company has completed fundraising for its first-ever growth lending fund – Riverside Acceleration Capital (RAC) – which is designed to fuel the growth of enterprise software companies with flexible, non-dilutive capital.
As a long-term partner, RAC also intends to support its companies with follow-on equity investments, and will leverage the substantial resources and experience of The Riverside Company.
The fund hit its USD50 million fundraising target and has already made several investments.
RAC is designed to provide growth capital to software businesses without altering ownership or control dynamics. This provides strategic options for companies that have
Amadeus Capital Partners has made an early-stage investment in Healx, a British healthcare company that seeks new uses for existing drugs in the fight against rare diseases.
Amadeus Capital is investing in a GBP1.5 million Series A round, alongside healthcare entrepreneur Jonathan Milner.
Board members include bio-tech entrepreneur Darrin Disley and drug development leader David Brown, co-inventor of Viagra.
Healx, founded and based in Cambridge, operates in the fast-growing drug ‘repurposing’ sector. The company uses advanced data analytics, including machine learning and computational biology techniques, alongside scientific literature analysis, to identify novel drug applications for rare diseases that
Omnes Capital is selling its majority stake in SIMP to the HCP Packaging group, owned by Baring Private Equity Asia.
HCP is a specialist in the design, development and manufacture of prestige primary packaging for the cosmetics, skincare and fragrance industries.
Omnes acquired a stake in SIMP in 2011. The deal involves keeping the management team in place, with Alain Blondel as chairman and Eric de Bardonnèche as commercial and development director.
Founded in 1949 in the Paris region, SIMP is a pioneer in plastic and rubber injection moulding. It designs and manufactures small precision industrial components produced
Global advisory and fund administration firm Maitland has appointed Martina Swart to the newly created role of group head of governance services.
Swart (pictured) joins from Orbis Investment Advisory, where she was a senior adviser to the business, covering governance matters.
Previously, Swart held the position as global head of prime service legal advisory at Barclays in New York and prior to that, she held senior legal roles at major global financial institutions, including Citigroup, Citadel Investment Group and Credit Suisse.
Swart’s 15 years of experience in investment banking and fund management, has included management of legal, risk and compliance
NVM Private Equity has backed a management buy-out (MBO) at Presteigne Broadcast Hire, a specialist in the broadcast equipment hire sector in the UK.
The business hires a selection of specialist equipment predominantly to outside broadcast companies with a particular focus on the live sport and event sector.
Founded by industry veteran Mike Ransome, Presteigne invests in the latest products and emerging technologies. Headquartered in Crawley and with additional facilities in Warrington, Presteigne has supported many global sporting events. More recently these have included the supply of equipment and services in connection with the Rio 2016 Olympics and this season’s
SME lender iwoca has closed a GBP21 million Series C equity financing round led by Prime Ventures, a growth capital firm dedicated to investing in technology.
The new round brings iwoca’s total equity funding to GBP38 million.
All series A and B investors participated in the round including Acton Capital Partners, CommerzVentures, Global Founders Capital and Redline Capital.
In parallel iwoca also raised a GBP25 million secured debt facility via a syndicate led by Shawbrook Bank which increases its available debt facilities to GBP40 million.
The investment will be used to further develop iwoca’s proprietary technology and
AXA Investment Managers – Real Assets has appointed Mark Gilligan as head of infrastructure equity, effective from 3 October.
Based in London, Gilligan (pictured) will report to Ruulke Bagijn, global head of real assets private equity at AXA IM – Real Assets, and will have responsibility for the infrastructure equity team.
Gilligan has over 20 years’ experience in the infrastructure and resources sectors and joins AXA IM – Real Assets from UBS Global Asset Management where he has been since 2007. At UBS, he was head of European infrastructure and was both responsible for undertaking and managing infrastructure investments
Seyfarth Shaw has appointed Gregory A Markel as a partner in the firm’s litigation department based in New York.
Markel joins from Cadwalader, Wickersham & Taft in New York.
Markel’s practice focuses on high-stakes litigation regarding securities and antitrust issues, corporate governance, mergers and acquisitions, and directors' and officers' defence. In addition, he handles high level internal investigations involving complex financial issues and is often retained by corporate boards of directors to handle serious internal matters.
Markel is one of only 50 lawyers in the US to have been named to the Lawdragon 500 in each of the
Law firm Paul Hastings has advised FLSV Fund Administration Services (FAS) and its owners on its disposal to Sanne Group for a total consideration of USD65.8 million subject to customary adjustments.
The transaction is expected to complete by the end of November 2016.
FAS is a New York-headquartered business offering fund administration and reporting services to private equity institutions and alternative asset managers, primarily in North America.
Paul Hastings has advised FAS and its owners for a number of years.
Sanne Group is a provider of outsourced corporate and fund administration, reporting and fiduciary services.
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