Objectway buys Algorfin


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Objectway said Jan. 21 that it acquired Algorfin. Financial terms weren’t announced. Unione Fiduciaria SpA is the seller. Algorfin provides IT and administrative outsourcing services for asset management companies, custodian banks and other financial operators.

PRESS RELEASE

Objectway, the leading Fintech group in Italy and one of the premier European players in software and services for the wealth, investment and asset management industries, acquired Algorfin, the software and services division of Unione Fiduciaria S.p.A.
(Logo: https://mma.prnewswire.com/media/700775/Objectway_Logo.jpg )
Algorfin is specialised in IT and administrative outsourcing services for Asset Management Companies, Custodian Banks and other financial operators, through the Archimede, Diogene and Archimede Governance software platforms.
Archimede is the leading solution for the complete management of open-end and closed-end investment funds, including investors’ management, NAV calculation, compliance and any type of regulatory compliance required. Diogene supports the management of all the activities of a Custodian in

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Main Capital exits Axxerion


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Main Capital Partners said Jan. 21 that it sold its majority stake in Axxerion to Nemetschek Group. Financial terms weren’t announced. Axxerion provides software for facility and property management.

PRESS RELEASE
Main Capital Partners is pleased to announce the 100% sale of its majority stake in Axxerion to publicly listed, Munich-based Nemetschek Group [ticker: XETRA NEM.DE], global leader in Open Building Information Management (BIM) and Construction software.
Axxerion is the leading European SaaS-based software company active in Facility Management and Property & Real Estate Management. With an organization of nearly 100 people, Axxerion delivers truly multi-tenant software, with an extensive range of functionalities, to around 2,000 international customers, across many industry sectors. Key customers include Vodafone/Ziggo, Facilicom, Q-Park, Nutricia, MVGM (the largest property manager in Benelux), two of the Big 4 auditing firms and CBRE.
Main Capital invested in Axxerion in 2016 with a focus on accelerating the international

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SoftBank’s $100 bln Vision fund shares profits and losses with partners: Bloomberg


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SoftBank Group Corp.’s $100 billion Vision Fund has set up an unusual compensation structure for partners that allows them to share in potential enormous profits of its investments and also those deals that backfire, Bloomberg reported. The fund, which includes a $5 billion loan to employees, swaps debt for equity, generates profits when transactions make money as well as losses when they don’t, the story said.

MUFG Union buys Intrepid Investment Bankers


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MUFG Union Bank NA said Jan. 8 that it closed its buy of Intrepid Investment Bankers LLC. Financial terms weren’t announced. Intrepid, of Los Angeles, is a middle market investment bank out of Los Angeles. Intrepid will operate under its current name as a subsidiary of MUFG Union Bank.

PRESS RELEASE

MUFG Union Bank Completes the Acquisition of Intrepid Investment Bankers to Expand
its Middle Market Banking Services

LOS ANGELES, January 8, 2019 – MUFG Union Bank, N.A. today announced it has completed the acquisition of Intrepid Investment Bankers LLC (Intrepid), a leading Los Angeles-based regional middle market investment banking firm. The acquisition expands the bank’s client service capabilities to offer mergers and acquisitions and capital markets advisory services, delivering a unique value proposition to business owners and middle-market companies. Intrepid will operate under its current name as a subsidiary of MUFG Union Bank, N.A., working in

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Arsenal Capital buys Accumen


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Arsenal Capital Partners said Jan. 17 that it acquired Accumen Inc from Accretive LLC. Financial terms weren’t announced. Accumen, of San Diego, provides health system performance optimization solutions.

PRESS RELEASE

ARSENAL CAPITAL PARTNERS ACQUIRES ACCUMEN

 

NEW YORK, January 17, 2019 – Arsenal Capital Partners (“Arsenal”), a leading private equity firm that invests in middle-market healthcare and specialty industrials companies, announced today the acquisition of Accumen Inc. (“Accumen”), a leading technology-enabled provider of health system performance optimization solutions, from Accretive, LLC, a specialized investment firm based in New York.  The terms of the acquisition were not disclosed.

 

Founded in 2011, Accumen provides end-to-end strategy and services to drive value and long-term sustainability for healthcare providers’ clinical laboratories, outreach services, patient blood management systems, and imaging services.

 

Steve McLean, a Senior Partner of Arsenal said, “Accumen has a best-in-class management team with highly valuable expertise in providing operating

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Cars.com hires bankers to explore alternatives, including a sale


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Cars.com said Jan. 16 that it has hired advisers to explore strategic alternatives, including a sale. Cars.com has retained JP Morgan as its financial adviser and Latham & Watkins LLP as legal counsel. Cars.com, which provides an online automotive marketplace, was spun off from Tegna in 2017. The Chicago company has a $1.6 billion market cap.

WEX to buy Discovery Benefits


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WEX said Jan. 16 that it agreed to buy Discovery Benefits Inc. Financial terms weren’t announced. Discovery Benefits is employee benefits administrator for more than one million consumers.

PRESS RELEASE

SOUTH PORTLAND, Maine–(BUSINESS WIRE)–WEX (NYSE:WEX), a leading financial technology service provider, today announced the signing of an agreement to acquire Discovery Benefits, Inc. (DBI), a high-growth employee benefits administrator to more than one million consumers across all 50 states. DBI plays a key role in the consumer-directed healthcare ecosystem by offering account administration technology and services.
DBI has been a well-established partner of WEX’s Health division for more than a decade, trusting WEX’s proven healthcare technology platform to manage a portion of its consumer-directed account administration. This acquisition will combine one of the industry’s fastest-growing benefits administrators—known for its leading benefits account technology—with WEX’s dynamic, cloud-based technology platform. The acquisition is expected to accelerate WEX’s growth rate, provide partners and

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Cognism raises 2.8 mln pounds


This post is by Luisa Beltran from PE Hub Blog: Venture Capital Deals


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Cognism said Jan. 17 that it raised 2.8 million pounds ($3.6 million) in funding form investors including Oliver Wyman, South Central Ventures, LCIF, Newable and other existing investors. Cognism, of London, provides sales acceleration software.

PRESS RELEASE

LONDON, January 17, 2019 /PRNewswire/ —
Cognism, the end-to-end sales acceleration solution providing organisations with a more intelligent way to prospect, today announces that it has raised £2.8 million in a funding round from investors including Oliver Wyman, South Central Ventures, LCIF, Newable and other existing investors. The funding follows strong growth since Cognism was founded in 2016.
Cognism has grown rapidly in revenue in 2018, experiencing 23% monthly growth. The company was seeking expansion capital and selected Oliver Wyman to partner with in order to bring its platform to the Enterprise level, alongside South Central Ventures who remains the lead investor in the company. The funding

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KeyBank to buy Laurel Road’s digital lending business


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KeyBank National Association, said Jan. 16 that it agreed to buy Laurel Road‘s digital lending business. Financial terms weren’t announced. Laurel Road’s three bank branches located in southeast Connecticut are not part of the transaction. Laurel Road, of New York City, provides student loan refinancing platform. KeyBank is part of KeyCorp.

PRESS RELEASE

CLEVELAND, Jan. 16, 2019 /PRNewswire/ — KeyBank National Association today announced that KeyBank and Laurel Road Bank have entered into a definitive agreement for the acquisition by Key of Laurel Road’s digital lending business; Laurel Road’s three bank branches located in southeast Connecticut are not part of this transaction. Through the acquisition, Key will enhance its digital capabilities with state-of-the-art, customer-centric technology and will leverage Laurel Road’s proven ability to attract and serve professional millennial clients.
Laurel Road, based in New York City, has built a best-in-class student loan refinancing platform, which launched in 2013

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Orchard Global Asset Management raises $2.5 bln for its Taiga Special Opportunities Fund


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Orchard Global Asset Management said Jan. 17 that its Taiga Special Opportunities Fund closed on $2.5 billion. Taiga looks invest in opportunities arising from the regulatory environment applicable to global financial institutions.

PRESS RELEASE

Orchard Global Asset Management raises $2.5bn in Taiga Special

Opportunities Fund 

London (January 17, 2019) – Orchard Global Asset Management (OGAM), an alternative investment management firm with a focus on opportunistic fixed income and structured credit transactions, today announces that it has closed the Taiga Special Opportunities Fund after raising $2.5bn in capital commitments.

“We appreciate the support of our existing LPs and welcome new investors into Taiga,” said Paul Horvath, Group CEO and co-founder of OGAM, “and believe that these relationships are a testament to OGAM’s continued ability to identify attractive risk-reward opportunities.”  Over 40% of the capital commitments into Taiga came from existing OGAM investors, with the remaining 60% made up

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Koch Equity, Golden Gate to invest another $1.5 bln in Infor


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Koch Equity Development LLC and Golden Gate Capital agreed to invest $1.5 billion in Infor, which sells financial and manufacturing software. Koch, in 2017, closed a $2 billion investment in Infor, of New York, which is backed by Golden Gate, Summit Partners and management.

PRESS RELEASE

NEW YORK – January 16, 2019 – Infor, a global leader in business cloud software specialized by industry, today announced an agreement to receive a $1.5 billion investment from shareholders Koch Equity Development, LLC (KED) and Golden Gate Capital.
This investment builds on KED’s investment of more than $2 billion in early 2017, and it represents an important milestone as Infor considers a potential IPO in 2019 or 2020, subject to market conditions.
“Koch and Golden Gate Capital have been phenomenal partners for Infor, and all of our 17,300 employees are excited about this milestone as we prepare for the next

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Fiserv to buy First Data in $22 bln stock deal


This post is by Luisa Beltran from PE Hub Blog: PE-Backed Mergers and Acquisitions


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Fiserv and First Data said Jan. 16 that their boards have approved an agreement where Fiserv is buying First Data in a $22 billion stock deal. Once the deal closes, Fiserv shareholders will own 57.5 percent of the combined company, while First Data shareholders will have 42.5 percent. Fiserv said it plans to refinance the roughly $17 billion of debt that First Data is expected to have at the time of closing. The deal is expected to generate about $500 million in savings. KKR, which owns 39 percent of First Data and has 86 percent of voting rights, will have 16 percent of the company once the deal closes.

PRESS RELEASE
Fiserv to Combine with First Data Corporation to Create Global Leader in Payments and FinTech
• Combined Company to Have Increased Scale, Expanded Footprint and More Extensive Range of High-Value Client Solutions
• Expected to Generate

™

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Gotham Green invests $4 mln in Chooze Corp


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Gotham Green Partners has invested $4 million in Chooze Corp, which owns the LucidMood brand of functional cannabis products. LucidMood produces disposable vape pens.

PRESS RELEASE

NEW YORK and BOULDER, Colo., Jan. 15, 2019 /PRNewswire/ — Chooze Corp, owner of the popular LucidMood brand of functional cannabis products, announced today that it has secured a $4 million investment from Gotham Green Partners — a leading private equity firm focused on the cannabis space. The investment will enable Chooze Corp to expand distribution of LucidMood products beyond Colorado and Maryland to new states starting with Nevada, Massachusetts, California, and Pennsylvania, launch a new line of THC-free products into the CBD market, and establish a formulation division to produce white-labeled cannabis products for third-party brands.
“We are very impressed with what Chooze Corp has accomplished to date, and see the potential for LucidMood to become a nationally recognized brand. Adding

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Meketa Investment to merge with Pension Consulting Alliance


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Meketa Investment Group Inc is merging with Pension Consulting Alliance LLC. Financial terms weren’t announced. Meketa advises public and private institutional investors, while PCA serves U.S. tax-exempt and public pension fund clients. The combined firm will be called Meketa Investment Group Inc.

PRESS RELEASE
Meketa Investment Group and Pension Consulting Alliance to Join Forces

Combination Unites Long-Established, Highly Respected Investment Consultancies with Demonstrated Public, Private Markets & Real Estate Expertise
January 16, 2019 06:00 AM Eastern Standard Time
BOSTON & PORTLAND, Ore.–(BUSINESS WIRE)–Investment consulting and advisory firms Meketa Investment Group, Inc. (“Meketa”) and Pension Consulting Alliance, LLC (“PCA”) today announced that they have entered into an agreement to join forces. The integration is expected to happen in the first half of 2019 and the combined firm will be called Meketa Investment Group, Inc.

The combination of Meketa and PCA brings together two of the industry’s most experienced and

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Apax Partners invests $200 mln in Fractal Analytics


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Apax Partners said Jan. 16 that it invested $200 million for a minority stake in Fractal Analytics, which provides AI to Fortune 500 companies. In 2016, Khazanah Nasional Berhad, the strategic investment fund of the Government of Malaysia, invested $100 million in Fractal, PitchBook said.

PRESS RELEASE
Funds advised by Apax Partners invest USD 200 million in Fractal Analytics
Investment will accelerate Fractal’s path to a $1 billion-revenue company in the AI space

New York, London & Mumbai, January 16, 2019: Funds advised by Apax Partners (the “Apax Funds”) have today announced a definitive agreement to invest USD 200m for a significant minority stake in Fractal Analytics, a global provider of AI to Fortune 500 clients. The transaction, which consists of a secondary stake acquired from existing shareholders and a primary investment into the business, is expected to close by February 2019.

Founded in 2000 with the vision

™

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OpenGate to buy Saint-Gobain’s silicon carbide unit


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OpenGate Capital said Jan. 15 that it agreed to buy the silicon carbide division of Saint-Gobain SA. Financial terms weren’t announced. The Saint-Gobain silicon carbide division produces metallurgical feedstock, refractory materials abrasive grains, and products used in technical ceramics.

PRESS RELEASE

January 15, 2019 03:00 AM Eastern Standard Time
LOS ANGELES & PARIS–(BUSINESS WIRE)–OpenGate Capital, a global private equity firm, announced today that it has entered into exclusive discussions to acquire the silicon carbide division of Saint-Gobain S.A. (EPA: SGO). The transaction is anticipated to be formally signed and completed in the first half of 2019. Financial terms were not disclosed.
The silicon carbide division has a global manufacturing footprint with sites across Norway, Belgium, Brazil and Venezuela. The business produces metallurgical feedstock, refractory materials abrasive grains, and products used in technical ceramics.
About OpenGate Capital
OpenGate Capital is a global private equity firm specializing in the acquisition and

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Zix to buy AppRiver for $275 mln


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Zix Corp said Jan. 15 that it agreed to buy AppRiver for $275 million. Marlin Equity Partners is the seller. AppRiver provides cloud-based cybersecurity solutions. True Wind Capital has agreed to invest $100 million in convertible preferred equity. SunTrust Bank and KeyBanc Capital Markets are providing debt.

PRESS RELEASE

Zix to Acquire AppRiver, Leading Cloud-Based Cybersecurity Solutions Provider
• Combination Creates Leading Cloud-based Email Security Provider to Small and Midsize Business (SMB) Market with over $180 Million of Annual Recurring Revenue (ARR)
• Company Also Secures $100 Million Convertible Preferred Equity Commitment from True Wind Capital and $200 Million Debt Commitment from SunTrust Bank and KeyBanc Capital Markets
• Conference Call Scheduled for Today, January 15, at 8:30 AM ET
January 15, 2019 06:31 AM Eastern Standard Time
DALLAS–(BUSINESS WIRE)–Zix Corporation (Zix) (NASDAQ:ZIXI), a leader in email security, has entered into a definitive agreement to acquire AppRiver, a leading provider

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Tritium Partners Fund II raises $465 million


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Tritium Partners LP said Jan. 15 that its second fund closed on $465 million. The target for Tritium II LP was $375 million. Tritium focuses on growth companies in sectors including internet and information services, supply chain and logistics, as well as financial and business services.

PRESS RELEASE

Austin, TX (January 15, 2019) – Tritium Partners, LP (“Tritium”), a private equity firm specializing in buyouts of growth companies in the lower middle market, announced its final closing on its second fund – Tritium II, L.P. – with $465 million of committed capital, a 50% increase from Tritium’s 2015 inaugural fund. Tritium II, which was oversubscribed, was strongly supported by existing investors, who in aggregate increased their commitment level in this fund, and several new, substantial institutional investors. The fund’s investors include leading retirement systems, private pension plans, university endowments, foundations, diversified financial institutions and insurance companies. The fund, which

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Bain Capital Private Equity to buy majority of Brillio


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Bain Capital Private Equity has agreed to buy a majority of Brillio. Financial terms weren’t announced. Brillio’s current management team will continue to lead the company. Brillio, of Santa Clara, California, provides digital consulting and technology services.

PRESS RELEASE

SANTA CLARA, CA — January 15, 2019 — Brillio, a global digital technology consulting and solutions company, today announced the signing of a definitive agreement for Bain Capital Private Equity to acquire a majority stake in the company to further scale its digital transformation offerings. Brillio will continue to be led by the current management team, headed by Chief Executive Officer Raj Mamodia. Financial terms of the private transaction were not disclosed.

“We are honored to collaborate with Bain Capital Private Equity as we continue to establish Brillio as the preferred transformation services partner for our customers. In order to realize our goal of being one of the world’s leading provider

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