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Start-up Townsquared, an online community designed to help small businesses connect and share resources with each other, has secured an USD11.05 million round of Series B funding.
This brings the total amount of funding the company has received to USD16.4 million. The latest funding round is led by top-tier international venture capital firm Sierra Ventures and Intuit, the leading provider of business and financial management solutions for small businesses. Additional investors include Jocelyn Goldfein, former Engineering Director at Facebook and former VP of Engineering at VMware, and Pravin Madhani, Angel Investor.
Townsquared has been able to establish a strong national
PNC Bank has closed senior secured credit facilities totalling USD48 million for two new clients: Wellnext, a Florida-based family of brands that delivers research-backed nutritional supplements, and Elite One Source Nutrisciences, a Montana-based manufacturer of supplements for branded marketing companies.
The financing package for Wellnext, a portfolio company of WM Partners, included a USD30 million senior secured revolving loan and treasury management services. Based in Sunrise, Florida, Wellnext is a family of brands that delivers research-backed nutritional supplements for every consumer life stage.
PNC provided an USD18 million senior secured financing package for Elite One Source Nutrisciences, Inc., a portfolio
Global Fashion Group SA (GFG), has concluded a financing round worth EUR330 million. During the process, Noerr advised its longstanding client Rocket Internet SE, which is the anchor shareholder of GFG.
Due to high demand by investors, the minimum commitment was raised by EUR30 million from the original EUR300 million. Rocket is investing EUR68 million in total. This includes the conversion of an investment from a prior financing round. GFG’s largest shareholder Kinnevik also took part in the financing round, along with others. GFG is valued at EUR1 billion following the transaction.
Rocket again relied on a Noerr team led
Monroe Capital has increased its credit facility to OSG Billing Services (OSG) to support the acquisitions of ClickSpark (ClickSpark) and The Garfield Group (Garfield).
Based in Rochester, New York, ClickSpark is a performance-based internet marketing company that specialises in lead generation and technology. Garfield, based outside of Philadelphia, Pennsylvania, provides marketing and advertising agency services including branding, marketing and public relations strategy and execution, with a particular emphasis on digital strategy. OSG is a leading provider of outsourced billing and statement services and customer communication management.
The acquisition of ClickSpark and Garfield will further expand OSG’s digital marketing platform, branding, strategy
IK Investment Partners’ IK VIII Fund is to acquire Ellab A/S (Ellab), a manufacturer of thermal validation solutions, primarily used for validation for food and pharmaceutical industries, from a group of private investors. Financial terms of the transaction have not been disclosed.
Founded in 1949, Ellab is a leading global supplier of solutions for measuring, recording, monitoring and validating critical parameters of thermal processing, selling its products in over 65 countries across the globe. The Company offers a wide product range of high-precision systems for temperature, pressure and humidity monitoring and validation based on either data loggers or thermocouple based
ECI Partners (ECI) and Livingbridge have sold their investment in Reed & Mackay to Inflexion generating a multiple of 3.4x cost to investors.
Reed & Mackay is a premium corporate travel management company delivering a personalised service through cutting edge technology. Its strategic travel management services focus on law firms, insurance companies, finance houses and the Energy Sector. More recently it has opened offices in Scotland, the US and the UAE. Reed & Mackay also provides an industry leading Event Management service. In the year to March 2016 Reed & Mackay handled nearly 600,000 client travel transactions.
Since ECI invested
HIG Capital (HIG) has sold a minority stake to Dyal Capital Partners III (Dyal), a permanent capital vehicle managed by Neuberger Berman. Dyal has acquired a passive non-voting stake, representing less than 15 per cent of the economic interests of the firm.
Proceeds will be primarily used to increase the firm’s investments in its own funds and to seed and fund a number of growth initiatives, in order to further capitalise on the firm's unique position in the small and mid-cap market.
Sami Mnaymneh and Tony Tamer, the Founders and Co-CEOs of HIG, says: "We are delighted to welcome Dyal
Private equity firm Arlington Capital Partners has successfully closed its latest fund, Arlington Capital Partners IV, with total capital commitments of USD700 million, the Fund’s hard cap, and in excess of its target of USD575 million.
The fundraise, which was significantly oversubscribed, successfully reached its final closing three months of its launch.
Fund IV received capital commitments from a globally diverse group of investors, including public pension funds, corporate pension funds, insurance companies, fund of funds, and foundations. The Fund will continue Arlington’s strategy of targeting high-growth government-related sectors including aerospace and defense, government services and technology, healthcare, and business
Norfund, FMO and Rabobank have entered into a partnership to reaffirm their long-term commitment to Africa’s future development, growth potential and the local financial sector.
The partners are committed to strengthen and develop effective, inclusive financial systems in Africa. It is also envisioned that Banco Montepio, a financial group based in Portugal with banking investments in Africa, will join the partnership in the near future.
The partners currently hold stakes in several financial service providers (FSPs) in Sub-Saharan Africa which they have agreed to pool together. The new company, to be named Arise, will start with a presence in over
An affiliate of private equity firm HIG Capital has completed an investment in the owner of the Buonvento shopping centre in Italy. The shopping centre comprises approximately 20,000 square meters and tenants include leading international and national retailers.
The asset, located in Benevento, is the leading shopping centre in its catchment area.
The transaction represents HIG’s 29th real estate investment in Europe since the start of 2013. HIG continues to add to its sizeable portfolio of Real Estate assets in Europe, consisting of both equity as well as debt investments, with a particular focus on its target market of value-added small/midcap
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