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Private equity firm HIG Capital has sold its portfolio company, Big Tex Trailers – a manufacturer and retailer of professional-grade open utility trailers and truck beds – to Bain Capital Private Equity.
HIG recapitalised the company in 2012 alongside founder and former owner Ricky Baker. Since then, the company has made significant investments in additional manufacturing facility infrastructure, automation, manufacturing best practices, marketing initiatives, management team augmentation and addition of new dealers and company-owned retail stores.
Roman Krislav, Managing Director of HIG, says: “Big Tex is an exceptional company with a strong value proposition and outstanding growth profile. We
German technology investor Target Partners posted the most active year for investment in 2015 since the founding of the firm in 1999, putting EUR25 million to work in 17 financing rounds for tech startups.
New portfolio firms included Dedrone (drone protection, Kassel), Swarm64 (database acceleration, Berlin and Oslo), Sicoya (silicon photonics chips, Berlin) and NavVis (3D indoor mapping and navigation, Munich). Follow-on rounds with new co-investors included Falcon Social (social media management, Copenhagen), tado° (intelligent home climate control, Munich), adjust (mobile app tracking and analytics, Berlin) and So1 (individual price promotions, Berlin).
“2015 was the most active year in
Private equity firm Spire Capital Partners has promoted Kerri McNicholas to Vice President following what the firm describes as ‘two and a half years of exceptional contributions to the Spire investment team’.
Most notably, McNicholas was a critical deal team member that was relied upon heavily as new investments were made out of Spire's current investment fund. In addition to assisting in the initial acquisitions of Lighthouse eDiscovery, Surgent Professional Education and Performance Assessment Network, McNicholas continues to work closely with portfolio company management teams to evaluate strategic acquisitions and grow the businesses.
In addition, Karl Rodger recently joined
Relay Ventures Fund III and Relay Ventures Parallel Fund III have acquired over 6,666,667 units of Axios Mobile Assets Corp at a purchase price of CAD0.90 per unit on a private placement basis.
Relay Ventures Fund III acquired 6,366,367 units and Relay Ventures Parallel Fund III acquired 300,300 units. Each unit consists of one common share of Axios and one common share purchase warrant. Each Warrant will entitle the holder to subscribe for one Common Share at a price of CAD1.50 per share for a period of 36 months following the closing of the Offering, subject to anti-dilution adjustments. Prior
OrbiMed has held the closing of its next venture capital fund, OrbiMed Private Investments VI, LP, with USD950 million in limited partner commitments.
Investors in the fund include some of the preeminent medical research institutions globally, along with leading endowments, foundations and sovereign wealth funds.
Consistent with its predecessor funds, the new fund will invest in all stages and sectors of the healthcare industry, with a focus on biopharmaceuticals, medical devices, diagnostics and healthcare IT companies located in North America and Europe. The new fund is expected to invest in approximately 30 portfolio companies in amounts generally ranging from
Eolus has, through its subsidiary Eolus North America, acquired two wind power projects under development in the state of Nevada.
The transaction means that Eolus will acquire 100 per cent of the shares in the US companies Crescent Peak Renewables LLC and Comstock Wind LLC for the sum of 50 000 USD. Crescent Peak owns the rights to a wind power project of 200-600 MW under development in Clark County, Nevada, and Comstock owns the right to a wind power project of 20-100 MW under development in Storey, Washoe and Carson City County, Nevada. The transaction includes a profit sharing mechanism
Delphinus Medical Technologies has added two new senior-level advisors to its Board of Directors.
With more than 35 years of combined experience with emerging healthcare innovators, John Neis and Michael Fulton, MD, will help guide the company as it develops commercialisation plans for SoftVue, the firm’s whole breast ultrasound system that allows physicians to image the entire breast for diagnostic imaging purposes.
The appointments cap off Delphinus’ Series C venture round, which garnered more than USD39 million. This unprecedented venture capital funding is the single largest amount ever raised for a healthcare imaging company in the Midwest, as well
FGP Systems (FGP), a UK-based aerospace precision engineering company, is back in profit just three months after its acquisition out of administration by Cyrus Investment Management (CIM) with funds raised through the Cyrus Secured Loans Precision Engineering EIS Fund 1.
FGP was acquired in September and following growth investment and re-structuring by a total of 105 specialist engineering jobs have been saved.
FGP was founded in 1970 as a Tier 1 ‘build to print’ aerospace precision engineering company. It designs, engineers and manufactures bespoke mission critical components for the leading UK, European and US civil and military aerospace industries.
Audax Private Equity (Audax) has sold KODA Distribution Group (KDG) to Azelis Group, a portfolio company of funds advised by Apax Partners.
Azelis is headquartered in Antwerp, Belgium and is a leading global specialty chemicals distributor with revenues over EUR1 billion.
KDG is a leading specialty chemical distributor in North America. Since Audax’ initial investment in 2010, KDG has completed seven acquisitions, transforming from a regional CASE (Coatings, Adhesives, Sealants & Elastomers) focused distributor to a multi-vertical distributor to the CASE, Specialty Agriculture, Personal Care, Industrial, and Pharma/Nutrition end markets with presence across all of North America.
Geoffrey
Venture capital fund AXA Strategic Ventures (ASV) has added four new investments over the second half 2015 to its portfolio in the US.
“Our world is becoming more transparent, digitally enabled and customer centric,” says ASV US’s General Partner, Manish Agarwal. “These developments are changing financial services and we are excited that our portfolio is helping shape this trend. Through these new companies, we want to capture innovation and invest in technologies that will tomorrow transform our industry.”
Bee is building the ‘bank of the future’ – a mobile-first, in-person bank for all Americans. Bee was launched in New York
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