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Funds advised by Magenta Partners, the entrepreneurial growth investor, have sold their stake in iprism Underwriting Agency Limited to Bowmark Capital.
iprism is an insurance intermediary that sells policies to brokers and direct customers on behalf of groups such as AXA, Aviva and LV. Its online platform generates quotes and policy documentation in real time, maximising the speed and efficiency of price testing and purchase.
Magenta acquired a minority stake in iprism in November 2010.
Chase Emson, partner of Magenta Partners, says: “iprism is a great example of a business that has shown consistently strong growth despite challenging
By Perrie Michael Weiner (pictured) and Patrick Hunnius at international law firm DLA Piper – In the past few weeks, there has been much press attention and debate regarding the legal i
Naylor, a portfolio company of RLJ Equity Partners, has acquired Boxwood Technology, a provider of online career centres and career-related services to more than 1,000 major associations throughout the US.
Founded in 1998 by current chairman and CEO John Bell, Boxwood's technology platform includes career centres, career development, online learning, online and in-person career fairs, mentoring, resume writing, and a newly introduced executive recruitment concierge.
To date, Boxwood has helped associations generate over USD400 million in non-dues revenue and is the only career centre solutions provider to earn an endorsement by the American Society of Association Executives (ASAE), consecutively since 2002.
Therapeutic companion software specialist Voluntis has closed a Series D financing co-led by Bpifrance and Innovation Capital, plus Vesalius Biocapital, Qualcomm and existing investors.
With a total of EUR20.75 million (USD29 million), this fund raising is one of the largest rounds of investment in the m-health sector this year.
Voluntis existing Series C investors, CapDecisif Management, CM-CIC Capital Innovation and Sham, also participated in the round.
Voluntis embeds connectivity in therapeutics and medical intelligence in software. Dedicated to managing chronic conditions, Voluntis' digital solutions aim to enable treatment personalisation, support care coordination, and improve real-life outcomes.
Voluntis
Private equity firm Arle Capital is to acquire the Innovia Group from the Candover 2001 Fund, which Arle has managed since 2009, for an enterprise value of EUR498 million.
Innovia, headquartered in Wigton, Cumbria, is an international manufacturer of speciality films for its key markets of labels, overwrap, packaging and polymer banknote substrate. In early 2014, Innovia Security procured the Bank of England contract to supply substrate for the new polymer GBP5 and GBP10 notes.
Arle has raised fresh capital to fund the transaction from a syndicate of global investors. For the Candover 2001 Fund investors, it represents a
Some 105 victims of a private equity Ponzi scheme are to recover more than 100 per cent of the money they invested, plus an additional 10 per cent.
Receiver Mark Dottore, represented by Rob Glickman of McCarthy Lebit Crystal & Liffman Co, LPA and co-counsel Bob Rapp, was charged with attempting to recover the more than USD28 million stolen from investors of the IPOF Fund, a defunct private equity fund that was actually a Ponzi scheme operated by David Dadante.
Over the past eight years, the Receiver and his legal team brought legal action against numerous brokerage firms, a
Milbank, Tweed, Hadley & McCloy has appointed Michael “Ben” Garcia as special counsel in the firm’s global securities practice group in the New York office.
Garcia brings corporate finance and capital markets experience to Milbank.
He regularly advises issuers and underwriters in cross-border securities offerings, with a deal book that spans from Latin America to Europe, Asia and North America. He has counselled leading financial institutions and investment banks, as well as private equity firms and corporate issuers. In addition to advising on debt and equity offerings, he has advised on M&A transactions, commercial financings, leveraged buyouts and IPOs.
One Rock Capital Partners, a lower middle-market private equity firm, has held the final closing of its first fund.
The firm accepted USD431.5 million in total capital commitments, surpassing its fundraising target of USD300 million.
This is the first private equity fund raised by One Rock, which targets controlling stakes in lower middle-market companies in North America, primarily in situations characterized by complexity.
One Rock was formed in 2010 by Tony W. Lee and R. Scott Spielvogel, formerly managing directors at Ripplewood Holdings.
Mitsubishi Corporation is One Rock's strategic partner and largest investor.
Managing partner Scott
GI Partners, a middle market private equity firm, has completed the final closing for GI Partners Fund IV at the fund's USD2 billion hard cap, surpassing its USD1.5 billion fundraising target.
Fund IV will continue the investment strategy GI has pursued since inception, and focus primarily on control-oriented, deep value investments in North American middle market companies.
Rick Magnuson, founder and executive managing director of GI Partners, says: "We are grateful for the strong support from our existing investors and are very pleased to welcome a highly regarded set of new investors to GI. We believe the interest expressed
GITP Ventures, an international private equity firm led by serial entrepreneur and investor Michael Puscar, has invested in MYTIC SAS.
MYTIC's software product, Finaxion, reduces the barrier to obtaining a loan by connecting consumers with multiple lenders quickly and easily.
"The existing paradigm fails the consumer," says Adrien Battistolo, co-founder of MYTIC. "Our technology connects those consumers directly with banks to facilitate more loans for both."
In Colombia, where MYTIC is headquartered, inflation has remained near historic lows while interest rates for loans remain extraordinarily high. The official Colombian inflation rate in February 2014 was 2.32 per cent,
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