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TA Associates has completed a majority investment in Professional Datasolutions, Inc (PDI), a provider of ERP software and services to the convenience retail and petroleum wholesale marketer industries. Financial terms of the transaction have not been disclosed
PDI’s enterprise resource planning (ERP) software solution and related services are designed to help convenience store retailers and wholesale petroleum marketers more effectively operate their businesses. The company’s core system, PDI/Enterprise, features multiple suites addressing a number of functional areas, including retail automation, supply chain management, business intelligence, financial reporting and workforce management. Serving large convenience store retail chains and wholesalers, PDI has
The Mosiewicz Family and Ambienta SGR are to sell SPIG to Babcock & Wilcox Enterprises. The transaction, which is subject to regulatory approvals, is expected to complete within the third quarter of 2016.
Babcock & Wilcox, a US company founded in 1867 by Stephen Wilcox and George Babcock, is a global leader in energy and environmental technologies and services for the power and industrial markets. The company, based in Charlotte in North Carolina, employs approximately 5,700 people around the world. During its 150 year-long history the company has been a leading innovator introducing, among others, the world’s first installed utility
OrbiMed, an investment firm focused on the healthcare sector, has closed its second Israel-focused venture capital fund, OrbiMed Israel Partners II, LP, with approximately USD307 million in capital commitments.
Investors in the Fund include several of the world’s largest healthcare companies, in addition to dozens of institutional investors and family offices.
Consistent with its predecessor fund, OrbiMed Israel Partners II will target all stages and sectors of the healthcare industry, with a focus on biopharmaceuticals, digital health, medical devices, and diagnostics companies in Israel. The fund is targeting to invest in approximately 20 portfolio companies. Where appropriate, Israel Partners II
Mid-market private equity firm LDC has backed the management buyout of CIPHR, a vendor of human capital management (HCM) software, to further develop its SaaS offering and expand its product range.
CIPHR, which is headquartered in Marlow, provides HR management software targeted at small and medium sized organisations (SMEs) with between 100 and 5,000 employees. Its cloud-based technology is designed to make human resource functions more efficient, spanning the employee lifecycle from talent attraction, recruitment and on-boarding, absence and core to learning and development, employee rewards and benefits.
The investment will enable the business to further drive sales effectiveness
Ares Capital Corporation and American Capital have signed a merger agreement whereby Ares Capital will acquire American Capital, excluding American Capital Mortgage Management.
The combined company would have on a pro forma basis more than USD13 billion of investments at fair value as of March 31, 2016. The Boards of Directors of both companies have unanimously approved the transaction.
Under the terms of the Ares transaction, American Capital shareholders will receive approximately USD3.43 billion in total cash and stock consideration or USD14.95 per fully diluted share. In a separate transaction, American Capital also announced today that it is selling American
BGF (Business Growth Fund), a provider of growth capital to small and mid-sized businesses, is celebrating celebrates five years of growth during which it has invested nearly GBP850 million in a diverse portfolio of more than 125 companies including manufacturers, retailers, technology providers, restaurants and more.
The milestone follows BGF’s strongest ever quarter; BGF invested over GBP100 million in the first three months of 2016 and is on course to pass GBP1 billion in committed investments later this year – a clear signal of the growing demand for this type of support among Britain’s entrepreneurial businesses.
The last five
Rail rolling stock leasing company Beacon Rail Leasing, a portfolio company of Pamplona Capital, is to purchase 13 sets of five-car intercity carriages which will be leased to TransPennine Express Limited (TPE), a FirstGroup plc company.
The carriages will be manufactured by Spanish manufacturer, Construcciones y Auxiliar de Ferrocarriles (“CAF”) and are currently scheduled to be placed into service in 2018. Beacon’s Class 68 diesel locomotives, which are leased to Direct Rail Services (DRS), will initially haul the carriages between Liverpool and Newcastle and will be sub-leased from DRS to TPE.
Beacon owns a diverse portfolio of freight and passenger
FactSet Research Systems is to sell its market research business focused on advisor-sold investments and insurance, consisting of Market Metrics and Matrix Solutions, to Asset International, a portfolio company of Genstar Capital.
The total purchase price is approximately USD165 million, subject to certain working capital adjustments, with an additional earn-out of USD10 million based on the achievement of certain growth targets over the next two years.
“This transaction is consistent with our long-term strategic direction and our commitment to delivering value to our shareholders,” says Phil Snow, Chief Executive Officer of FactSet. “We appreciate the efforts of the dedicated employees
The asset management industry faces a ‘triple whammy’ of challenges in 2016 – comprising a growing threat from disruptors, a tsunami of regulation and market turmoil – according to a new industry survey from Multifonds.
Multifonds’ annual ‘Every Fund survey’, which surveyed fund managers and administrators who manage and service assets exceeding USD27 trillion and USD19 trillion respectively, highlights the key challenges and concerns facing the asset management industry today.
Over half (54 per cent) of respondents believe a new game changing disruptor, such as Amazon or Google will enter the market in the next two years.
The
Equistone Partners Europe-backed WEALTH at work – a provider of financial education in the workplace for the private sector – has acquired the Affinity group of companies (The Farleigh Group Ltd) based in Bristol.
Affinity is a provider of financial education in the public sector with over 200 employers including local authorities, fire and police services and the NHS, throughout the UK. The acquisition is hugely significant, not only broadening coverage to now include both the private and public sectors, but also increasing assets under management to over GBP1.5 billion. Most importantly, the move comes at a time when public
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