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GI Partners has entered into an agreement to acquire Daxko from Pamlico Capital in a recapitalisation transaction with management.
Terms of the transaction have not been disclosed.
Headquartered in Birmingham, Alabama, Daxko is a provider of mission critical software to member-based health and wellness organisations. Daxko helps customers achieve operational efficiency, deliver strong fiscal management, and engage their members in meaningful ways.
Pamlico acquired Daxko, in partnership with management, in February 2014, and has supported the company as it completed two acquisitions, added over 50 employees, and grew revenue by approximately 30 per cent per year.
“Pamlico
Fried Frank has advised OpCapita on the raising of its second fund, OpCapita Consumer Opportunities Fund II.
Upon close, the fund reached its hard cap of EUR350 million, exceeding its debut fund, OpCapita Consumer Opportunities Fund, which raised EUR110 million when it reached its final close in December 2014.
The fund, which was significantly oversubscribed, builds on strong support from existing global investors, and also attracted new investors.
The fund intends to generate superior returns through a strategy of intense operational turnaround of underperforming businesses in the retail, consumer and leisure sectors in Europe.
The Fried Frank
Fluidic Analytics, a University of Cambridge spinout specialising in the field of protein characterisation, has raised GBP5.3 million (USD7 million) in Series B financing.
The round was led by IQ Capital Partners and included Amadeus Capital Partners, the Cambridge Enterprise Seed Fund, Parkwalk Advisors, Draper Esprit, and Cambridge Innovation Capital as co-investors.
Fluidic Analytics is developing products based on a new technology for protein characterisation that emerged from the laboratory of Professor Tuomas Knowles at the University of Cambridge. The technology, aspects of which were recently published in Nature Chemistry, allows proteins to be characterised in a rapid, accurate
Citco has launched Citco Waterfall, a proprietary technology that enables private equity firms to calculate waterfall payments for limited and general partners on a standardised platform.
Citco says the technology is the first of its kind and is available exclusively to the firm’s clients.
Citco Waterfall is designed to fill what the firm describes as a major gap in private equity fund administration offerings. Replacing a process for determining waterfalls that is labour-intensive and inefficient, Citco’s technology automates and standardises the waterfall calculation process, while maintaining maximum flexibility to account for a wide range of fund partnership agreements, scenarios,
Scipion Capital, a commodity trade finance investment manager, has appointed Paul Baker as head of trade finance to oversee all of the company’s trade functions.
In this newly created role, he will report to the firm’s chief investment officer, Nicolas Clavel.
Baker (pictured) brings to Scipion 30 years’ experience in identifying, structuring and closing trade finance facilities.
Before joining Scipion, Baker spent eight years at Sumitomo Mitsui Banking Corporation Europe (SMBC), where he was an assistant general manager in the firm’s structured trade and commodity finance department. Prior to this, Baker was director for metals and mining in the
Kuber Ventures, an alternative fund investment platform offering access to EIS/SEIS portfolios and funds, has added Tim Thornton, Matt Lenzie, and Kate Hopkin to its team.
All three hires are newly created roles as a result of the continued growth across the business and geographic regions.
Hopkin’s role as business development associate is key to providing support to the business development managers increasing Kuber’s geographical distribution footprint. Prior to joining Kuber Hopkin worked at Brooks MacDonald and Fidelity International.
Lenzie and Thornton also work to increase Kuber’s distribution capabilities and geographical coverage. Both have been bought in because
International law firm Taylor Wessing has enhanced its London private equity practice with the appointment of Duncan McDonald as partner.
The appointment McDonald, who joins from Olswang, brings the number of dedicated private equity lawyers in Taylor Wessing’s London team to 20.
McDonald is a highly experienced international private equity lawyer with an extensive track record in advising sponsors, management teams and companies on management buy-outs and buy-ins, portfolio company transactions, exits and growth capital deals. He also specialises in domestic and cross-border M&A and joint ventures.
McDonald brings deep experience across a wide range of sectors, including
NorthEdge Capital has launched a specialist deal origination team as part of its ongoing investment to support the development and growth of the firm.
NorthEdge now has over GBP525 million in funds under management since the final close of NorthEdge Capital Fund II, which reached its GBP300 million hard cap in March.
Ray Stenton, partner and head of new business, will be supported by James Hales who joins as head of origination.
Hales spent seven years leading the origination activities of global corporate finance advisory business Clearwater International. He will be responsible for identifying new investment opportunities and management
Clearwater International has advised Greek private equity house Global Finance, the majority shareholder of TotalSoft, in addition to other shareholders, on the sale of TotalSoft to Logo Software Investment.
Logo, a subsidiary of Logo Yazılım Sanayi ve Ticaret, has acquired 100 per cent of TotalSoft shares for an enterprise value of EUR30 million.
According to market reports, the Romanian enterprise application software (EAS) market is expected to grow significantly over the next five years.
TotalSoft reported a revenue of over EUR20 million in 2015 and its international sales made up 23 per cent of the overall total. In 2016
Rutland Partners has completed the sale of Millbrook Group to Spectris for GBP122 million.
The disposal from Rutland Fund II realises for investors a return of over six times its investment.
Millbrook was acquired from General Motors for an undisclosed sum on 2 October 2013. It is a test, validation and engineering service provider for the automotive, transport, tyre, petrochemical, security and defence markets.
Established in 1968, Millbrook is located at the heart of the UK automotive and fuels industries. The business owns a 665-acre site offering extensive test and validation facilities which complement over 45 miles of
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