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FloWorks International (FloWorks), a specialty flow control distribution platform backed by Clearlake Capital Group, has acquired Flotech, a value-added distributor and servicer of industrial valves.
Financial terms of the transaction have not been disclosed.
Founded in 1961, Flotech is a distributor and servicer of industrial valves and automation solution.
Together with Flotech, FloWorks will now have over 50 global branches, all strategically located in key markets to support customers focused on the chemical, sanitary, utility, refining, integrated circuit fabrication, pulp and paper, power generation, municipal, microelectronics, life sciences, food & beverage, agriculture, and general industrial end markets.
YFM Equity Partners (YFM) has made an additional multi-million pound investment in the UK-headquartered film and TV visual effects company Outpost VFX through its British Smaller Companies VCTs.
This will enable the business to continue its rapid scale-up by investing in high calibre artistic talent, company culture and its tech infrastructure.
Since YFM first backed Outpost VFX in February 2021, the business has seen rapid growth, delivering 150% revenue uplift in its first full year of trading since investment. It has continued to build its team which has increased almost four-fold to service continuing growth, including strengthening its management with
The New York State Common Retirement Fund, currently the third largest pension fund in the United States with over $280 billion in assets, allocated over 75% of it $4 billion investment outlay in June to alternatives, according to a report by DailyAlts.
NB Renaissance and Chequers Capital are to sell the Biolchim Group (Biolchim), an Italy-based global producer and distributor of a specialty fertilisers, to JM Huber Corporation, one of the largest US family-owned companies whose products are used in a broad range of applications including agriculture, food and beverage, personal care, building materials and other.
eFront, BlackRock’s alternative investment management platform, has partnered with sustainability tech firm Clarity AI to enable GPs and LPs to generate quantitative sustainability assessments of alternative investment portfolios.
Through a simplified workflow, eFront is encouraging industry participation and help solve the gap of sustainability metrics outside publicly listed companies—fostering an ecosystem of communication across LPs, GPs, and PortCos.
LPs opting into the eFrontnow sustainability service will be able to access and extract Clarity AI ESG data related to their portfolios and utilise that data within their reporting. GPs will also be able to generate analytics and benchmarking at the company-,
Abris Capital Partners (Abris), an ESG transformation specialist private equity investor, has supported GreenGroup, a central European circular economy specialist, in acquiring UAB Ecso, a Lithuanian LDPE (Low Density Polyethylene) recycling company.
Part of an ambitious M&A strategy, this acquisition marks GreenGroup’s entry into the polyolefin recycling market and creates the platform for further expansion in this sector across the CEE region. Over the next few years, GreenGroup will invest EUR 150 million to EUR200 million to further consolidate its position as the largest integrated recycling group in CEE through capex investments and bolt-on acquisitions.
UAB Ecso is GreenGroup’s second
Pension funds are among those investors that sold a record $33 billion of private fund investments in the first six months of 2022, according to a report by The Financial Times.
Partly triggered by the recent steep decline in stock markets, investors are now selling stakes in PE and VC funds at the fastest pace on record, as the downturn in equities spreads to the private markets.
The report cites data from Jefferies as revealing that H1 sales of stakes in private funds jumped to $33 billion from $19 billion in the same period in 2021, with sales typically bine
QinetiQ US, a wholly owned subsidiary of QinetiQ Group and a leading defence company is to acquire Avantus Federal (Avantus) from NewSpring Holdings for an enterprise value of $590 million.
The combination of QinetiQ US and Avantus will create a powerful growth platform to address the complex and large scale intelligence and defense challenges government customers face today. The closing of the acquisition is subject to customary conditions, including regulatory approvals, and is expected to close by end of calendar year 2022.
Avantus is a provider of mission-focused cyber, data analytics, and software development solutions to the Department of Defense,
An affiliate of CenterGate Capital (CenterGate), an Austin-based private equity investment firm, has made an investment in Prisma Graphic (Prisma), a marketing solutions provider that offers a range of technology-enabled marketing logistics functions for enterprise customers.
Established in 1980 and headquartered in Phoenix, AZ, with an additional location in Nashville, TN, Prisma provides custom commercial printing, data analytics-driven direct mail services, packaging, and brand management for customers in a variety of end markets across the US. Prisma has built a strong reputation for customer service through its high-touch approach and proprietary software platform.
CenterGate Capital was represented by McDermott Will
Senate Democrats have a provision in forthcoming US climate and tax legislation that would allow the carried rate interest loophole to be closed or at least narrowed, according to a report the New York Times.
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