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Bregal Sagemount, a growth-focused private equity firm, has made a significant minority investment in Solo, a provider of solar sales, proposal and design software.
In 2017, Solo was the first to market with the introduction of their one-touch-close system. Today, Solo continues to enhance and expand its platform with best-in-class accuracy, real-time visualisation features, proprietary measurement and calculation engine, presale and educational tools, and integrated partner and lender solutions.
The Solo and Sagemount partnership is aligned by a shared vision of accelerating growth and speed to market through technology and talent. The investment will be used to fuel further growth
BEX Capital, a private equity secondaries specialist, has promoted Thomas Carbonel and Alexis Ferrer to Senior Partner.
BEX Capital, founded in France in 2010, is the first and only secondaries firm to be solely dedicated to the acquisition of positions in global private equity fund-of-funds, secondary funds and co-investment funds. It has over $1.3 billion of capital under management.
This summer, the firm also hired a Vice President and three Associates to join the investment team. These hires are in line with the continued growth of BEX Capital’s assets under management and deal flow, following the close of its fourth
CoverTree, one of the first ever digital insurance solutions for residents of manufactured homes, has raised a total of $10 million in a seed funding round co-led by AV8 Ventures and Distributed Ventures.
Detroit Venture Partners, Ludlow Ventures, and Annox Capital also participated in the round.
CoverTree will use funding for team growth, state and product line expansion, expansion of technology that includes distribution portals and further automated underwriting, as well as investment in the company’s major partners.
Late-stage VC is being hit hardest by the much reported ‘reset’ in valuations, as the number of high-profile examples snowballs through 2022. In a Private Equity Wire survey in July, over half of all respondents (53%) expected to see a markdown in the valuation of their VC investments in 2022, compared to 2021
GIC, a global institutional investor in partnership with Oak Street, a Division of Blue Owl, one of the largest net lease investors, are to acquire STORE Capital Corporation, an internally managed net-lease real estate investment trust (REIT) that invests in Single Tenant Operational Real Estate, in an all-cash transaction valued at approximately $14 billion.
Under the terms of the definitive merger agreement, STORE Capital stockholders will receive $32.25 per share in cash, which represents a premium of 20.4% to STORE Capital’s closing stock price as of 14 September, 2022 and a premium of 17.8% to the 90-day volume weighted average
An affiliate of Veritas Capital (Veritas), a technology and government investment firm, is to acquire Sequa Corporation (Sequa), parent company of Chromalloy, from funds managed by global investment firm Carlyle. Financial terms of the transaction have not been disclosed.
Sequa, through its subsidiary Chromalloy, is a global technology company and a solutions provider for aircraft engines and gas turbines. For over 70 years, Chromalloy’s solutions extended the life of aircraft engines and gas turbines, improving the economics of flight and power generation. Chromalloy is Sequa’s only remaining business, following the sale of its Precoat Metals business to AZZ Inc earlier
British chemicals manager Calum MacLean is to become CEO of the envisaged joint venture for high-performance engineering materials which private equity investor Advent International (Advent) and speciality chemical company LANXESS AG (LANXESS) are planning to form.
Axar Capital Management (Axar) has completed its acquisition of Pavonia Life Insurance Company of Michigan (Pavonia), a Michigan domiciled life insurance company. Financial terms of the transaction have not been disclosed.
As part of the acquisition, Axar has partnered with Mark Zesbaugh, an executive with 30 years of experience in the insurance industry, who has been appointed Executive Chairman of Pavonia.
Axar Capital Management LP is an investment manager focused on value-oriented and opportunistic investing. Axar’s investment team focuses on opportunities across the capital structure in complex situations, event driven opportunities and as a provider of debt and equity
HCAP Partners has held the final close of its second SBIC fund, HCAP Partners V, which was oversubscribed with total capital commitments of $353 million including anticipated leverage from the SBA, exceeding the initial fundraising target by over forty per cent.
Operating as a US Small Business Administration SBIC (Small Business Investment Company), the Fund will continue the firm’s strategy of investing in underserved businesses in the lower middle market and implementing the Gainful Jobs Approach, its platform designed to measure and improve job quality standards across its portfolio.
More than twice the size of its predecessor fund, HCAP Partners
Lightyear Capital, a New York-based private equity firm that partners with growth companies in financial services, technology, healthcare, and business services, has appointed Michael Langer as a managing director and member of the firm’s Investment Committee.
Langer will be responsible for leading Lightyear’s investments within the healthcare financial services sector.
Previously, Langer was a Partner at Five Arrows Capital Partners, where he focused exclusively on healthcare. He has over 20 years of private equity experience and over 15 years covering the healthcare sector. Langer has served as a member of the boards of directors of several companies throughout his career.
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