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Furniture Village has secured a GBP6m investment from the Business Growth Fund (BGF), the independent company established to help Britain's growing businesses.
Furniture Village was established in 1989 by co-founder and chief executive Peter Harrison. The company’s core product category is sofas, alongside cabinet furniture, beds and accessories.
The business has 40 stores across the UK, employs 760 people and generates revenues of GBP200m per annum.
BGF’s funding will enable Furniture Village to accelerate a roll-out expansion of new stores across the UK. BGF will take a minority stake in the business and Jon Simon will join the board
Mobile event app developer DoubleDutch has closed a USD19 million Series D funding led by Mithril Capital Management.
Previous investors Bessemer Venture Partners, Index Ventures and Bullpen Capital also participated, along with Singapore-based Enspire Capital.
Ajay Royan, co-founder and managing general partner of Mithril, joins the DoubleDutch board.
"More than three years into our journey, we continue to see signs that the market for data driven event technology is massive, underserved, and ripe for a winner-take-all outcome," says Lawrence Coburn, CEO of DoubleDutch. "In Mithril, we have found a partner that matches our ambition and outlook. Our mutual
Harris Williams & Co has advised Mister Car Wash, a portfolio company of private equity platform ONCAP, on its sale to private equity firm Leonard Green & Partners.
Harris Williams acted as lead financial advisor to Mister Car Wash.
The transaction, which closed on 21 August, was led by Joe Conner, Jason Bass, Jershon Jones and Jeff Kidd of Harris Williams’s transportation and logistics group, and Chris Williams from the firm’s Richmond office.
“Mister Car Wash has established itself as the premier operator in the car wash and lube centre industry. Leonard Green’s longstanding experience with world-class multi-site
Private equity firm Vector Capital has appointed Jim Murray as chief financial officer.
Murray joins Vector after 14 years at Blum Capital, where he was the chief financial officer and chief administrative officer.
Prior to that he worked at California Federal Bank, Coopers & Lybrand, and Kenneth Leventhal & Company where he specialised in tax matters.
“We are delighted to welcome Jim to Vector,” says Alex Slusky, Vector’s chief investment officer. “Jim is a seasoned and thoughtful finance executive with extensive experience in tax, finance and compliance. Jim has worked with multiple liquid and illiquid investment strategies and
CellarStone, a provider of cloud based sales performance management solutions, is to receive funding from Seattle-based Lighter Capital.
The financing will be used to expand the sales and marketing of the CellarStone solutions.
“Lighter Capital started following our company and the sales performance management market space a few years ago. With 17 million salespeople in the USA alone, the sales commission market space presented a tremendous opportunity,” says Gopi Mattel, CEO of CellarStone. “Lighter Capital was also particularly interested in our cost-effective business model in solving the sales commission management problem.”
“CellarStone’s veteran leadership, profitable and solid growth,
Clayton, Dubilier & Rice (CD&R) managed funds are to invest USD500 million in CHC Group through the purchase of convertible preferred shares to be issued in a private placement.
As part of the transaction, CHC also intends to pursue a USD100 million rights offering of the convertible preferred shares to existing shareholders.
CD&R has agreed to purchase convertible preferred shares, if any are not purchased in the rights offering, which could bring CD&R’s total investment amount up to an aggregate of USD600 million.
According to William Amelio, CHC’s president and chief executive officer, the CD&R investment enables CHC
Venture capital veteran Sonja Hoel Perkins has joined the advisory board of GridGain Systems, a provider of an open-source, in-memory computing (IMC) platform.
Perkins (pictured) brings over two decades of leadership and investment expertise in the high-tech industry, and currently serves as managing director of Menlo Ventures and founder of Broadway Angels.
"In-memory computing is more than 'on its way' to being a staple of enterprise computing," says Perkins. "GridGain is already positioned to lead the charge as organisations begin to adopt this technology and incorporate it into their core infrastructures."
"I've been fortunate to work with Sonja
2013 was a year of strong private equity exit activity in the Central and Eastern Europe (CEE) region, the third highest on record, according to the European Private Equity and Venture Capital Association (EVCA).
Unlike the previous two record years, 2013 was not dominated by one or two large disposals.
In addition, 88 companies were exited, the highest number in the past seven years. However, both fundraising and investment activity fell relative to 2012. Despite this, the region continues the trend seen since 2010 for a year-on-year increase in the number of companies receiving private-equity backing, which increased by
Highland Capital Management has launched a non-traded product line with a publicly-registered business development company (BDC) NexPoint Capital.
The BDC will be the industry’s first healthcare-focused fund of its kind with a target raise of USD1.5bn in capital for investing primarily in medium-sized businesses.
NexPoint Capital represents Highland’s initial non-traded product with the company announcing plans to introduce additional non-traded products later this year. The BDC will be distributed by Highland Capital Funds Distributor and will be led by Brad Ross, president of Highland Funds, and Brian Mitts, chief operating officer of NexPoint Advisors and head of business development
SuMi TRUST Global Asset Services, a provider of operational and administration support services to institutional asset managers, has completed the enhancement of its Asian business.
SuMi TRUST has strengthened its operational and client service teams in all three centres with all asset servicing and client relationship activity for Japanese and Asian clients now being carried out from Tokyo, supported by the operational and administration centre in Dublin.
The Tokyo-based asset servicing team is composed of sales, dedicated client relationship management and experienced operations staff transferred from SuMi TRUST Dublin office.
“We are very pleased to have completed this
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