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Some 70 per cent of VCT managers report that portfolio companies have been net recruiters over the last year, with a further 80 per cent expecting net recruitment next year, according to a poll by the Association of Investment Companies (AIC).
Some 88 per cent of VCT managers expect overseas sales from portfolio companies to increase next year. The greatest sources of overseas growth for portfolio companies are currently Asia Pacific (25 per cent), North America (25 per cent), emerging markets (19 per cent) and Europe (19 per cent).
Some 44 per cent of managers report that portfolio companies
ClickSlide has closed its seed investment round led by Ariadne Capital Entrepreneurs (ACE) Fund and three angel investors.
The investment will be used to fund product development.
ClickSlide Abacus is a cloud-based platform that allows software to be connected to a programmable interface for the testing of APIs against live mobile applications. Such technology can create a substantial reduction in application build time.
ClickSlide Abacus can produce a live application connected to any REST, SOAP and XML -RPC APIs. Live testing of APIs against mobile applications can be used to test API viability at hack-a-thons. ClickSlide Abacus is used
An affiliate of private equity investment firm HIG Capital has made an investment in California Forensic Medical Group (CFMG), a provider of outsourced healthcare services for county jail inmates in California.
Since 1983 the company has provided California counties with healthcare services for county jail inmates. CFMG is based in Monterey, California, and has operations throughout California.
HIG has partnered with Dr Taylor Fithian, president and medical director, Elaine Hustedt, vice president of operations and personnel, and Dan Hustedt, vice president of finance.
“We have found a wonderful partner in HIG, who understands how important CFMG is to our customers
Georgia Oak Partners has made an investment in TeamOne Logistics, a provider of workforce solutions to companies with transportation or warehousing related functions.
Founded in 2003, TeamOne specialises in employee services, including recruitment and screening, training and development, benefits, risk management and compliance.
With approximately USD50m in revenue, TeamOne has more than 750 employees across 26 states.
Georgia Oak is partnering with the existing management of TeamOne Logistics, including founder Jerry Gray. A 30-year veteran in the transportation and logistics industry, Gray continues as president of TeamOne.
“The Georgia Oak partnership is an exciting next step for us and will
Tower Fund Services has launched as a new fund administration firm for alternative investment managers.
The firm provides a full spectrum of tailored outsourced solutions for hedge funds, funds of funds, multi-manager platforms, private equity, venture capital and real estate funds.
Its suite of services includes fund start-up, accounting, valuation, reporting and tax services to alternative investment managers in all strategies and structures.
Tower Fund Services was co-founded by the former managing director and director of operations for Apex Fund Services (US).
Co-founder and managing director Vince Sarullo says: “No one in the investment management industry needs reminding that
Water Street portfolio company Sarnova, a distributor of healthcare products in the emergency medical services and acute care markets, has acquired DXE Medical.
The acquisition extends the company’s portfolio of resuscitation equipment, and expands its services into maintaining, repairing and recertifying EMS and acute care equipment.
“As a market leader, we have been looking at new ways to support health care providers who are operating under increasingly constrained budgets. Adding repair and recertification capabilities to our menu of services enables us to become a long-term partner to our customers in helping them care for and maximise the life of their
Private equity firm Warburg Pincus has appointed Janet Vergis as an executive-in-residence, a role which will see her support the firm in the identification and evaluation of investment opportunities in the biopharmaceutical sector, particularly in the US.
Vergis (pictured) joins Warburg Pincus with 25 years of pharmaceutical experience and a strong track record of growing businesses.
Most recently, Vergis served as the chief executive officer of OraPharma, a specialty pharmaceutical company focused on oral health, where she led the successful turnaround and subsequent sale of the company to Valeant Pharmaceuticals.
Prior to her role at OraPharma, Vergis managed a USD6bn portfolio
Markit and Compliance Technologies International (CTI) have launched the FATCA Service Bureau, a new service designed to help financial institutions comply with the Foreign Account Tax Compliance Act (FATCA).
The FATCA Service Bureau unites the capabilities of Markit Counterparty Manager and CTI’s specialised tax validation and reporting systems to offer a solution that combines sophisticated document management, automated tools for Internal Revenue Service (IRS) registration and e-tax form submission.
Jeff Gooch, managing director and global head of processing at Markit, says: “FATCA compliance is another process-intensive requirement placed upon the financial industry that demands an automated solution. Combining the know-your-customer
Wisdom Capital Partners has partnered with Stanwich Partners and Ironwood Capital to acquire privately-held Advanced Recycling Systems (ARS) of Lowellville, Ohio.
Founded in 1991, ARS designs and manufactures patented equipment used in the collection, recycling and removal of dust and debris generated in industrial environments.
ARS offers a proprietary line of products including steel grit recyclers and dust collectors for the bridge painting, municipal water tank, shipbuilding and industrial market segments.
"ARS is well positioned for future growth as an aging infrastructure in the US continues to require significant investment and attention. There is also a growing need for environmentally-friendly
Endurance Resources has secured a USD100m growth equity commitment from Lime Rock Partners, an energy-focused private equity firm.
The capital will allow Endurance Resources to acquire producing and development assets currently operated by the Endurance team and to pursue additional opportunities in the Bone Spring oil play in Lea and Eddy Counties, New Mexico.
Endurance Resources was founded by Don Ritter and Garrett Smith. With the initial investment of Lime Rock Partners’ commitment, Endurance Resources will continue the development of its producing oil properties, Bone Spring acreage, and other plays in the Delaware Basin.
Ritter says: "Over the last five
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