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Global infrastructure deal activity slowed in the second quarter, with just 225 deals concluded, down on the 339 transactions seen in Q1, according to the Preqin Q2 2016 infrastructure deals update.
However, this downtick is not reflected in the total deal value, with the USD72 billion announced in Q2 approaching the USD89 billion seen in the previous quarter.
In comparison to Q2 2015, when 215 deals were concluded for a total of USD53 billion, the number of deals remains similar; but the increased level of capital invested by infrastructure fund managers this quarter points to the rising valuations of
BGF (Business Growth Fund) is participating in a GBP55m fundraising round alongside new senior debt facilities of GBP20 million to support the acquisition of Tax Computer Systems by AIM-listed Eco City Vehicle (AIM: ECV) for an enterprise value of GBP73 million.
BGF is providing a GBP10 million structured investment to support the long-term growth of the combined group, alongside funding from a consortium of institutional investors led by technology merchant bank MXC Capital, who originated the deal, and additional debt facilities.
TCS is the supplier of corporate tax software, Alphatax, and provides associated support and professional services to large
Funds affiliated with Bain Capital Private Equity and Vista Equity Partners have completed the acquisition of insurance technology specialist Vertafore.
With over 45 years of industry expertise, more than 500,000 insurance professionals currently use Vertafore technology every day across each point of the insurance value chain.
Leading products in the company’s portfolio include the Vertafore Agency Platform, AMS360 and Sagitta management systems, ImageRight, and Sircon agency and carrier solutions.
“Today is a significant day for our employees and our customers, and this partnership will help us continue to enhance our product portfolio and invest in our technology solutions
Boston-based investment firm Berkshire Partners has led a majority recapitalisation of Parts Town, a parts distributor in the foodservice equipment market.
Summit Partners, an existing shareholder, will remain a significant investor in the company. Terms of the transaction have not been disclosed.
Founded in 1987 in Addison, Illinois, Parts Town is the fastest-growing distributor of genuine OEM repair and maintenance parts for the foodservice industry and provides locally-focused field service and technical support.
Parts Town provides customised solutions to food equipment manufacturers, food equipment service companies, and restaurants. The company has been named to the Inc. 5000 list
The British Business Bank has appointed Neeta Atkar as a non-executive director to the board and the new chair of the British Business Bank Board Risk Committee, effective 1 July.
Atkar is chief risk officer at TSB Bank. She is a member of TSB Bank’s executive team, responsible for setting the bank’s risk appetite, strategy and framework, and advising the board and the executive on risk and regulatory matters.
Atkar has over 25 years’ experience in risk management and has held senior positions at a number of financial services firms, the Bank of England and the regulators.
Atkar says: “I’m very
Consolidated Precision Products (CPP) has completed its acquisition of two casting facilities from Pratt & Whitney Rzeszów, a business unit of Pratt & Whitney Canada that is a subsidiary of United Technologies Corporation.
Terms of the transaction have not been disclosed.
The two casting facilities, located in Rzeszow, Poland, specialise in aerospace engine components, with enhanced technology for manufacturing and cost-efficient processes. CPP will continue to produce the current products and plans to further expand the customer and product portfolio in the coming years.
Warburg Pincus has made numerous investments in high growth Polish companies, including INEA (the
Private equity firm OpenGate Capital has completed the acquisition of Alfatherm – just nine days after signing a definitive agreement with Emerald and PM & Partners, the shareholders and current debt holders for the acquisition.
Terms of the transaction have not been disclosed.
Alfatherm will benefit from OpenGate Capital’s operational experience in the European PVC market that have been developed through the firm’s pre-fund investments.
Under OpenGate’s stewardship, several initiatives will be implemented to leverage Alfatherm’s market position while improving upon the operations and manufacturing processes of the business.
Andrew Nikou, founder, managing partner and CEO at
River SaaS Capital has appointed Wendy Jarchow as chief investment officer.
Jarchow will manage River SaaS Capital's portfolio of loans, devise strategies for growth and act as a liaison between investors.
"Wendy has a wealth of investment and start-up knowledge, and we are excited to have her join our team," says River SaaS Capital president Matt Kennedy. "Her invaluable experience will be crucial to furthering River SaaS's future and the future of our customers."
Jarchow comes to River SaaS Capital with over 18 years of experience in finance, venture capital and strategic planning. As a venture partner at
Middlemarch Partners has acted as the sole merchant banking adviser in the completion of a USD21.95 million preferred equity raise for FlexShopper, an online provider of lease-to-own (LTO) financing and payment solutions for consumers.
Middlemarch Capital Partners, Middlemarch Partners' co-investment arm, invested alongside a USD5 billion private equity fund that led the investment round.
The financing will enable FlexShopper to accelerate its growth in originating consumer leases through its LTO e-commerce marketplace and patent pending LTO payment method that is used by leading retailers across the US.
FlexShopper is able to support LTO transactions online, in stores, and
Updata Partners has closed its new growth equity investment fund, Updata Partners V, with commitments of USD280 million – over its original target of USD225 million.
The fund will invest in software and software-driven companies that have achieved initial operating scale and are at an inflection point in their growth.
The fundraising is Updata’s largest to date, bringing the firm’s cumulative committed capital since inception to more than USD750 million.
“This new fund is a milestone in our history and a positive endorsement of our growth equity strategy and results,” says Carter Griffin, general partner. “We are grateful
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