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The private debt team of Tikehau IM acted as sole arranger and provider of financing for the acquisition of Flexitech, a supplier of brake hose products, by Sun Capital.
Established in France in 1960, Flexitech has over 50 years of operations experience and currently employs over 1,200 highly skilled full-time employees. Flexitech operates its own facilities in France, Romania, the United States, Mexico and Brazil, and supports its customers through local partners in China and India. Flexitech provides extensive product design, engineering and testing services to leading international automotive original equipment manufacturers (OEMs) including BMW, Daimler, Fiat-Chrysler, Ford, General Motors, JLR, Peugeot
Skillsoft has entered into a USD150 million accounts receivable Credit Facility provided by Sound Point Capital Management, LP and Morgan Stanley Senior Funding, Inc.
The borrower under the Credit Facility is Skillsoft Receivables Financing LLC, a bankruptcy-remote Delaware limited liability company and a wholly-owned subsidiary of Skillsoft Corporation. The Credit Facility is non-recourse to Skillsoft Corporation and is not subject to any financial covenants.
The Credit Facility allows the Company to borrow against its high-quality accounts receivable and provides incremental capital to the Company in addition to its existing USD100 million revolving credit facility. The availability under the Credit Facility
Intrepid Investment Bankers acted as adviser to JD Beauty, a designer and marketer of branded, professional-quality brushes and beauty care accessories, on the sale of a majority stake in the business to Topspin Partners.
“Intrepid’s insights and knowledge in the beauty care sector were invaluable in helping us explore our strategic options and in finding us the right partner to further accelerate our growth,” says Jeff Rosenzweig, Founder and CEO of JD Beauty. “We believe we are only at the beginning of building JD Beauty and the Wet Brush brand and are excited to have Topspin as our partner going
Dorado Systems, a national healthcare EDI platform, has closed a round of equity funding from Spring Lake Equity Partners.
"Dorado is thrilled to be partnering with the team at Spring Lake," said Ed Kennedy, Dorado's CEO. "Aligning with a private equity market leader is a testament to Dorado Systems' continued growth and success, and will allow the business to reach new heights."
This funding round will enable Dorado to drive forward in the healthcare and higher education markets. With Spring Lake's backing, the firm will add resources to support its burgeoning roster of clients, which includes the nation's premier healthcare
Atlanta-based Elite Crowdfund has launched a new crowdfunding platform designed to connect accredited investors with highly vetted early stage investment opportunities.
Elite Crowdfund users can invest in early growth stage firms in exchange for an equity share in the company.
Unlike some other equity-based crowdfunding platforms, Elite Crowdfund relies on quality, not quantity, and every company listed in the firm’s elite portfolio must meet stringent criteria and complete a thorough due diligence process, including an evaluation of its risk profile, likelihood of profitability and the ability to exit.
For a company to be included in Elite Crowdfund's portfolio of opportunities,
Ropes & Gray represented six pharmaceutical companies and Alzheimer’s Research UK in their investment in the Dementia Discovery Fund (DDF), a UK Government-sponsored fund established to support the discovery and development of novel dementia treatments.
This public-private collaboration is the first of its kind to address one of the most important global medical needs.
“This was a unique opportunity to represent six leading pharmaceutical companies and Alzheimer’s Research in their pioneering collaboration with the UK Government to fund new treatments for dementia,” says Matthew Judd, the Ropes & Gray private investment funds partner who led the deal. “The worlds of
Morrison & Foerster advised Global Logistic Properties Limited (GLP), the leading provider of modern logistics facilities in China, Japan, and Brazil, on the syndication of 45 per cent of its interests in GLP US Income Partners I.
The syndication, to two leading global institutional investors from Asia and one from North America, closed on 26 October.
Morrison & Foerster’s deal team is led by Singapore corporate partners Eric Piesner and Shirin Tang, Washington, DC corporate partner David Slotkin, and Singapore associates Lip Kian Ang and Lisa Park. Advice was also provided by San Francisco corporate partner Ken Muller, New York
Law firm Howard Kennedy has advised Puma VCT 12 (managed by Puma Investments, part of the Shore Capital Group) on the launch of its 2015 prospectus.
This is the twelfth Puma VCT promoted and managed by the Puma Investments team and sponsored by Howard Kennedy. Puma Investments has a strong track record in providing funding to established businesses across the UK. Its principal focus is on capital preservation and generating stable returns for its investors.
Puma VCT 12 looks to raise £30m in this tax year. Puma VCT 11, launched in the 2013/14 tax year, raised over GBP30m, representing
Technology-focused private equity firm Francisco Partners is to sell Aesynt to Omnicell for USD275 million. Francisco Partners acquired Aesynt in October 2013.
“It has been a true pleasure to partner with the Aesynt management team to transform the business,” says Chris Adams, partner at Francisco Partners and chairman of the Aesynt board of directors. “Through significant investment in new products – particularly new enterprise medication management software – the team significantly revitalised the organisation and returned it to rapid growth.”
Aesynt enables health systems to reduce cost and improve patient safety through the integration, automation, and management of medication preparation and
CitySprint has completed the acquisition of Dartford-based Bexley Couriers, bringing the number of acquisitions made by CitySprint to twenty-one, since it received investment from UK mid-market private equity firm Dunedin in 2010.
It follows the acquisition of two Milton Keynes based logistics operations, CJ’s Logistics and Worldwide Logistics and Distribution, which took place earlier this year.
Since its establishment in 1988, Bexley Couriers’ diverse fleet has offered a range of local and national delivery services. The acquisition further strengthens CitySprint’s regional network, whilst giving Bexley Couriers’ customers access to CitySprint’s unrivalled network of 3,000 couriers, which can reach
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