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NewSpring Capital’s NewSpring Holdings, the firm’s dedicated control buyout strategy, is to purchase X5 Solutions, a provider of a complete suite of telecommunications solutions.
The transaction is pending regulatory approval and targeted to close in March, 2015.
NewSpring has partnered with a new senior executive team with experience leading and growing companies in the telecommunications industry to acquire X5 Solutions. Greg Forrest and Rick Hirsh bring decades of executive-level experience serving as founders and CEOs of several large, successful B2B technology service providers and technology integrators.
The acquisition is part of a long-term growth strategy by NewSpring to help provide
Cavendish Asset Management, which runs the only AIM OEIC in the market, has reviewed the AIM market for 2014. Peter Renton, Equity Analyst at Cavendish comments,
The past year has been a tremendous success for the IPO market on AIM, with 79 new companies floated on the exchange during the year – the highest number of IPOs since 2007, and 30% more than in 2013.
That’s according to Cavendish Asset Management, which runs the only AIM OEIC and has reviewed the AIM market for 2014.
Peter Renton, Equity Analyst at Cavendish, says: “More than GBP2.6 billion in new capital was
Prudential has provided GBP85 million to build the new hospital, which is designed to ensure Edinburgh maintains its reputation as a world-class centre of excellence in medicine.
The new building in Little France will replace the existing Royal Hospital for Sick Children, and include services from the Department of Clinical Neurosciences and Child and Adolescent Mental Health Services.
Prudential’s long-term insurance funds will provide the funding for the development through its European asset management arm, M&G Investments. Prudential currently has over GBP40 billion of infrastructure and property holdings through M&G.
The deal underlines Prudential’s commitment to invest in
WeTransfer, the global file-transfer service, has completed a major Series A round of funding from top-tier investor, Highland Capital Partners Europe.
The funding round will support the rapid growth of WeTransfer across the US, Europe and beyond. Highland Capital Partners Europe, which has previously invested in Matchesfashion.com and Brandwatch in the UK and Rent the Runway and Malwarebytes in the US, has invested USD25 million, taking up a minority share in the business.
The successful completion of fundraising is a new milestone for WeTransfer, providing the company with an injection of both capital and expertise. With its track record of
Online money transfer service WorldRemit has raised USD100m in a Series B funding round led by Technology Crossover Ventures (TCV), with participation from existing investor Accel Partners.
WorldRemit is a global leader in smartphone and web-based money transfers – providing a convenient, low-cost alternative to expensive brick-and-mortar agents.
The company enables a growing share of the USD550bn in remittances sent each year by expatriates and migrant workers to their homelands.
This investment will allow WorldRemit to extend its existing reach of 50 send countries and 117 receive countries, and expand partnerships with Mobile Money wallets operated by telecoms companies in
Shopa (www.shopa.com), the social shopping site where customers can discover, share and buy products they love, has completed a USD11 million series A funding round.
UK venture capital firms Octopus Investments (which backed Zoopla, YPlan and SwiftKey) and Notion Capital (which funded Shutl and Duedil) led the fund raising. Shopa is now planning to roll out its ocial shopping technology in China and India after launching in the UK and US.
Peter Janes, Founder and CEO of Shopa, says: “Combining online shopping with the power of social is the holy grail of ecommerce, yet many brands are failing to fully
Paul Hastings has recently advised the portfolio companies of US private equity firms Beecken Petty O'Keefe & Company and Pfingsten Partners on three separate significant cross border acquisitions.
The firm represented Paragon Medical, a portfolio company of Beecken Petty O'Keefe & Company, in its acquisition of the medical device business segment of Michael Bubolz GmbH. Headquartered in Stuhr, Germany, and with a facility in Siechnice, Poland, Michael Bubolz manufactures close tolerance surgical instrumentation, a wide variety of orthopaedic implantable components and also provides complete sterile pack products. The transaction signed on 15 January, 2015. The Paul Hastings team advising Paragon
The German market for SME private equity remains in a very robust state at the start of the year, according to latest survey of the private equity panel polled three times a year by CMS Germany and FINANCE magazine.
The portfolio companies held by German private equity investors continue to defy the many trouble spots that surround them and private equity managers believe that the business prospects of their portfolio companies actually improved further at the start of the new year. Some 40 private equity (PE) firms provide anonymous assessments of the market for the survey.
"The current strong business
Standard Life Investments, the Global Asset Manager, has made two new appointments to its Infrastructure Debt team.
Alex Campbell joins as Investment Director for Infrastructure Debt and will be responsible for the sourcing, negotiation, preparation and review of infrastructure debt funding proposals. Based at St Mary Axe, London, Alex is an experienced originator and underwriter of long-dated capital market debt with expertise across a range of infrastructure assets both social and economic. He is also experienced in related asset classes such as utilities and real estate financings.
In addition, Marianne Froude has joined as Investment Analyst for the Infrastructure team.
Sidley Austin has further expanded its energy and M&A practices with the addition of partners Karen A Dewis, Kenneth W Irvin and Daryl L Rice in Washington, DC.
Irvin’s and Rice’s practices involve a broad cross-section of energy and commodities transactions, including energy trading and marketing, hedging and derivatives transactions, as well as the representation of clients in regulatory and investigation matters before the Federal Energy Regulatory Commission (FERC). Dewis represents public and private clients in connection with complex M&A, joint venture, spin-off and other strategic transactions, with a particular focus on the energy/commodities, financial services and general industrial sectors.
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