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Avedon Capital Partners and management have sold Tesch Inkasso Group, a German debt collection company, to Lowell GFKL Group, a credit receivables management backed by the Permira Funds and Ontario Teachers’ Pension Plan (OTPP).
Tesch Inkasso is headquartered in Wiehl, Germany. Its core business is to recover debt claims, mostly from private debtors in the name of its clients.
Tesch has around 10,000 unique clients and a volume of receivables serviced of approximately EUR2 billion with leading positions in the utilities and eCommerce sectors. Tesch currently employs around 430 trained professional staff in its three locations in Gummersbach, Krefeld
An Apollo Global Management-backed consortium of investors is supporting a management-led buyout (MBO) of operational support and risk management services provider Constellis.
The consortium includes Jason DeYonker, chief executive officer of Constellis, president of the firm Dean Bosacki and certain other members of management.
It is expected that Forte Capital, Manhattan Partners and a group of existing co-investors will also be involved in the consortium.
Terms of the deal have not been disclosed.
The transaction is conditioned on customary regulatory reviews and approvals and is expected to close prior to the end of the third quarter. Holders
Mercury Fund, an early-stage venture capital firm investing in entrepreneurs and innovation that originate in the middle of the US, has hired Jackie Pfister as marketing coordinator.
Pfister, the first marketing hire for Mercury, will support the firm’s investment team in their marketing and branding efforts in order to promote thought leadership and relevant industry-related content.
Pfister will also work with Mercury’s portfolio companies in helping them reach their branding, marketing and PR goals.
“We are thrilled that Jackie has joined the Mercury team to help expand and professionalise our marketing activities,” says Blair Garrou, co-founder and managing
Branding automation company Bynder has secured USD22.3 million (EUR20 million) in Series A funding from Insight Venture Partners, a New York-based venture capital and private equity firm.
The funding is a milestone for the ‘branding automation’ category as marketers seek a solution to deliver brand consistency across all channels and international markets at the touch of a button.
The capital will be used to continue international growth and to support further product development enabling brands globally to easily create, find and use digital content. Jeff Horing, managing director at Insight Venture Partners will join the company’s board of directors.
Medical device specialist Atomo Diagnostics has raised AUD4.5 million in new equity funding from a number of professional investors including the New York-based Global Health Investment Fund (GHIF), as well as a company associated with former managing director and CEO of Macquarie Group, Allan Moss.
The new investment follows receipt of a USD6 million (AUD7.8 million) loan to Atomo by GHIF in January this year.
The latest investment will also see Global Health Investment Fund managing partner Dr Curt LaBelle join the Atomo board.
LaBelle says: “Our fund is pleased to provide additional support to Atomo Diagnostics through
The half-year 2016 edition of Mergermarket's Deal Drivers EMEA reveals a more cautious dealmaking environment, with European investors eyeing political and economic changes in key markets, notably the UK's decision to ultimately leave the EU.
As a result, European deal value dropped 18 per cent to EUR314.7 billion compared to the first six months of 2015.
Deal volume remained relatively stable with 3,222 deals, 2 per cent less than the same period last year, underpinned by deals in the mid-market range.
Paul Francis-Grey, deputy editor EMEA at Mergermarket says: "Global M&A fever has cooled after two frenzied years
The UK Financial Conduct Authority (FCA) has granted Peer Funding Limited full permission to operate an electronic peer-to-peer business lending platform.
Unlike many existing platforms, Peer Funding Limited has not been trading under interim permission and has been granted this authorisation after completing a full application process.
The authorisation allows Peer Funding to launch a new platform in the UK peer-to-peer business debt funding sector in the autumn of 2016 which will offer choice to both investor and borrower with a range of products on a single platform.
It will include business loans (6-60 months); secured business loans
Inflexion portfolio company Global Reach Partners (GRP), a UK foreign exchange specialist, has completed the acquisition of international money transfer and payment solutions provider FC Exchange.
GRP, which provides payments and hedging services to businesses and private individuals, transacts annually over GBP3.5 billion of foreign currency, through its team of over 100 traders and support staff based in London.
The acquisition will increase these transactions annually to over GBP5.5 billion and the combined team to 170 employees.
The acquisition of FCE allows GRP to build scale and add capabilities.
Mark Smith-Halvorsen, co-founder and chief executive officer of
BPS Technology has completed its underwritten AUD27.5 million institutional placement and will use net proceeds of the capital raising to fund the acquisition of Entertainment Publications Australia and New Zealand.
Entertainment Publications is a business-to-consumer deals platform with 12,000 SMEs, 18,000 not-for-profits and 550,000 members.
The consideration for the Entertainment Publications acquisition is AUD22.5 million in cash and 2,659,574 in BPS shares.
The vendor of Entertainment Publications, Ben Johnson, who will remain as chairman of Entertainment after completion, says: “Entertainment Publications and BPS share the same culture and values, making this a natural win for both companies. They
Global law firm Ropes & Gray has appointed Amanda Persaud as a partner in the funds practice in the firm’s 300-lawyer New York office.
Persaud’s practice focuses on the formation, fundraising and operation of private investment funds, including private equity funds, hedge funds, credit funds and other types of alternative asset funds.
She regularly provides counsel on a wide range of governance, operational and regulatory matters affecting sponsor clients. She frequently advises on significant business transactions such as purchases and sales of asset management businesses, spinouts and key person separations.
Persaud joins Ropes & Gray from Wachtell, Lipton, Rosen
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