Balderton Capital leads Series A round for Tessian

UK-based Tessian, a machine intelligent email security platform, has secured $13 million in Series A funding. Balderton Capital led the round with participation from Accel, Amadeus Capital Partners, Crane, LocalGlobe, Winton Ventures and Walking Ventures. PRESS RELEASE London, 18th June, 2018 – Tessian, the UK-based machine intelligence start-up transforming the way enterprises secure email, today announces that it has raised $13 million (£9 million) in a Series A round led by Balderton Capital and existing investors, Accel. Amadeus Capital Partners, Crane, LocalGlobe, Winton Ventures and Walking Ventures also participated in the round. Against a backdrop where enterprises are creating a growing share of the world’s data – in 2015 businesses created 30 percent of all data globally, but this is expected to soar to almost 60 per cent by 2025 – Tessian’s mission is to automatically protect individuals and enterprises from cybersecurity threats in order to keep the world’s
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UK blockchain software startup Gospel picks up seed funding

UK-based Gospel Technology, a blockchain software startup, has raised 1.4 million pounds in seed funding. LocalGlobe led the round. PRESS RELEASE London, 18 June 2018 – A blockchain software startup that has been working with one of the UK’s biggest aerospace and defence manufacturers to develop a proof of concept to improve record keeping for its supply chain has raised £1.4m in seed funding from investors led by LocalGlobe. Marylebone-based Gospel has developed a way of securely distributing data across modern decentralised infrastructures. It offers companies like this major aerospace and defence company the potential to automate records for complex products that currently require significant manual management. With Gospel Technology the manufacturer can share only the information it needs to, securely, with other partners in its supply chain, potentially leading to improved efficiency and lower costs of information recall. Founded in December 2016 by entrepreneur Ian Smith,
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CITIC Capital offers to buy China Biologic for $110 per share: Reuters

A unit of Chinese investment firm CITIC Capital Holdings Ltd said on Monday it has offered to buy U.S.-listed biotech firm China Biologic Products Holdings Inc (CBPO.O), in a deal valuing the company at $3.65 billion. China Biologic makes and sells plasma products, such as human immunoglobin, to prevent diseases such as measles and hepatitis. The company’s shares rose 15.8 percent to $95 in premarket trading. The unit, CCRE, offered $110 in cash for each share of China Biologic it does not already own. (bit.ly/2leBZGo)
As of June 8, CCRE owned a 5.1 percent stake in China Biologic. CCRE said it plans to finance the transaction with a combination of debt and equity.

Memory care provider Silverado inks $45 mln

Silverado, a memory care provider, has secured $45 million in funding. The investor was Artemis Real Estate Partners. Coker Capital Advisors was financial adviser to Silverado on the deal. The capital will be used to develop Silverado’s memory care communities and support its hospice, palliative care and at home offerings. In addition to the funding, Kelly Sheehy, a principal and managing director of Artemis, will join Silverado’s board of directors. IRVINE, CALIF. (PRWEB) JUNE 15, 2018 Silverado today announced it has received a $45 million investment commitment from Artemis Real Estate Partners. This new financing will fuel Silverado’s 5-year plan to develop memory care communities throughout top US metro areas, and support its hospice, palliative care and at home offerings. Adding Artemis as a trusted partner will enrich Silverado’s strategic resources, and further its long-standing relationships with RLH Equity Partners and Welltower. Artemis has raised approximately $4 billion
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Tengram buys online beauty retailer Lime Crime

Tengram Capital Partners has acquired Los Angeles-based Lime Crime, an online beauty retailer. No financial terms were disclosed. In addition to the funding, Lime Crime has appointed Stacy Panagakis as CEO. Panagakis is the former general manager of Fresh. PRESS RELEASE LOS ANGELES, June 18, 2018 /PRNewswire/ — Lime Crime, the trendsetting makeup brand known for its vibrant, cruelty-free and vegan products, announced today it has been acquired by Tengram Capital Partners, a leading private equity firm that focuses exclusively on branded consumer and retail companies. Stacy Panagakis, formerly General Manager of Fresh, also joins as Chief Executive Officer. Founded by entrepreneurs Doe Deere and Mark Dumbelton in 2008, Lime Crime is a pioneering, digitally native beauty brand and a cult favorite among fashion-forward beauty aficionados. Through continuous creativity and innovation, Lime Crime stands apart by creating a magical world where beauty is redefined, and unabashed self-expression is encouraged. For
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Elucidata Corp grabs $1.7 mln seed

Cambridge, Massachusetts and New Delhi, India-based Elucidata Corporation, a data science company focused on developing tools and software solutions for drug discovery, has raised $1.7 million in seed funding. Hyperplane Venture Capital led the round. Source: Press Release

Vintage Capital to buy Rent-A-Center for about $1.3 bln

Vintage Capital has agreed to acquire Plano, Texas-based Rent-A-Center Inc, a furniture retailer, for $15 per share in cash or about $1.365 billion. The deal is expected to close by the end of 2018. PRESS RELEASE PLANO, Texas & ORLANDO, Fla.–(BUSINESS WIRE)–Rent-A-Center, Inc. (NASDAQ/NGS:RCII) (“Rent-A-Center” or the “Company”), a leader in the rent-to-own industry, today announced that it has entered into a definitive agreement (the “Merger Agreement”) with Vintage Rodeo Parent, LLC (“Vintage”), an affiliate of Vintage Capital Management, LLC (“Vintage Capital”), pursuant to which Vintage will acquire all of the outstanding shares of Rent-A-Center common stock for $15.00 per share in cash. The transaction, which is not subject to a financing condition, and is expected to close by the end of 2018, subject to customary closing conditions including the receipt of stockholder and regulatory approvals, represents a total consideration of approximately $1.365 billion, including
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Northleaf acquires stake in Lal Lal Wind Farms from Macquarie Capital

Northleaf Capital Partners has acquired a minority stake in Lal Lal Wind Farms, two wind generation projects in Australia. The seller was Macquarie Capital. No financial terms were disclosed. The wind farms are scheduled to be fully operational by the second half of 2019. Also, Northleaf has opened an office in Melbourne, Australia. PRESS RELEASE TORONTO–(BUSINESS WIRE)–Northleaf Capital Partners (Northleaf) is pleased to announce the opening of an office in Melbourne, Australia as the firm continues to expand its US$10 billion global private markets investment management platform. The announcement coincides with Northleaf reaching financial close on its third Australian infrastructure investment – a 40% equity interest in Lal Lal Wind Farms, two wind generation projects located near Ballarat, Victoria. “A formal presence in Australia extends Northleaf’s worldwide network, enhancing our capabilities to provide investors with access to highly differentiated mid-market infrastructure, private equity and private credit investments globally,” said
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Zenaton scores $2.35 mln seed

Zenaton, a SaaS developer tool company, has secured $2.35 million in seed funding. Accel and Point Nine Capital led the round with participation from other investors that included the Slack Fund and Kima Ventures. PRESS RELEASE 18th June 2018: Zenaton (https://zenaton.com), a cloud-based developer tool company that makes building workflows easy, today announces a $2.35 million (€2 million) seed investment led by Accel and Point Nine Capital, with participation from the Slack Fund, Kima Ventures, and business angels including Julien Lemoine, CTO and co-founder of Algolia, and Francis Nappez, CTO and co-founder of BlaBlaCar. Most businesses have coded workflows governing how their users interact with their service or automating internal tasks. For example, ordering an item on an ecommerce website will trigger a workflow that steers the process through specific steps, from order fulfillment through delivery and customer follow-up. These workflows are typically coded by developers
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General Catalyst taps Getty Images co-founder as XIR

General Catalyst has named Jonathan Klein as its newest executive-in-residence, according to an announcement from the venture firm. Klein is co-founder of Getty Images, where he was CEO for more than 20 years and currently is the chairman.

Healthcare-focused Leerink Capital hires ex-Wilshire sr executive Karl Beinkampen as president

Leerink Capital Partners hired ex-Wilshire Private Markets executive Karl Beinkampen as president. Beinkampen worked as president and chief investment officer of Wilshire Private Markets from 2010 to 2018. Prior to Wilshire, Beinkampen worked at Morgan Stanley for 15 years. Leerink Capital Partners was formed in 2013 as a multi-strategy, healthcare-focused principal investing business. Press Release Leerink Capital Partners (“LCP”), a multi-strategy healthcare-focused principal investment business, announced today that Karl Beinkampen, CFA will join the firm in June as President, responsible for all aspects of LCP’s business and activities. Mr. Beinkampen’s hiring follows successful fund closings in two of LCP’s private fund families. Mr. Beinkampen joins Leerink Capital Partners from Wilshire Private Markets (“WPM”), a division of Wilshire Associates, where he was President and Chief Investment Officer, responsible for leading its global private markets business. From 2010 to 2018, Mr. Beinkampen served on WPM’s Business Committee and as Chair of
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Cressey & Co funds raise $1.1 bln

Cressey & Co LP said June 18 that its latest flagship closed on $995 million while a related co-investment vehicle raised $105 million. The Cressey funds will invest in healthcare services and information technology businesses in the North American healthcare industry. The target for Cressey & Company Fund VI LP was $750 million. Kirkland & Ellis LLP served as legal counsel in the formation of Fund VI. PRESS RELEASE CHICAGO and NASHVILLE – June 18, 2018 – Cressey & Company LP (“Cressey & Company”), a healthcare-focused private investment firm, today announced the closing of Cressey & Company Fund VI, LP (“Fund VI”) on $995 million and a related co-investment vehicle on $105 million, bringing total new capital commitments to $1.1 billion. The new funds will continue Cressey & Company’s focus on investing in and building leading healthcare services and information technology businesses in the North American healthcare industry. “We
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Vestar-backed Quest Analytics buys BetterDoctor

Quest Analytics, a portfolio company of Vestar Capital Partners, has acquired BetterDoctor. Financial terms weren’t announced. Health Catalyst Capital was the seller. BetterDoctor, of San Francisco, provides a data management platform. PRESS RELEASE Quest Analytics Acquires BetterDoctor to Create First Health Plan Platform to Ensure Network Adequacy, Provider Data Accuracy and Improved Member Experience Appleton, WI – June 18, 2018 – Quest Analytics, the leading provider of network access and adequacy services to health plans and insurance regulatory agencies, today announced that it has acquired BetterDoctor, the nation’s most accurate provider data management platform. Together, the companies will provide the first comprehensive platform that enables health plans to optimize their member experience while complying with federal and state regulations for network adequacy and accuracy. Terms of the transaction were not disclosed. Today, healthcare costs in the U.S. are spiraling. As a result, health plans are narrowing the
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New State Capital exits Central Conveyor

New State Capital Partners said June 18 that it sold Central Conveyor Company LLC for $140 million. The buyer was U. S. Tsubaki Holdings Inc, a subsidiary of Tsubakimoto Chain Co. Central Conveyor, of Wixom, Michigan, provides automotive and industrial conveyor systems, conveyor system integration, custom conveyor design and controls automation. Morgan, Lewis & Bockius LLP served as legal adviser, Lincoln International served as financial adviser, while Duff & Phelps provided sell-side due diligence services to New State Capital and Central Conveyor. PRESS RELEASE NEW YORK, NEW YORK – June 18, 2018 – New State Capital Partners today announced that the firm has sold Central Conveyor Company LLC, (“Central Conveyor” or “Company”), a global leader in automotive and industrial conveyor systems, conveyor system integration, custom conveyor design and controls automation, to U. S. Tsubaki Holdings, Inc., a wholly owned subsidiary of Tsubakimoto Chain Co. (“Tsubaki”), for approximately $140 million. The transaction closed
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Novacap closes $220 mln Horizon Telecom buy

Novacap said June 18 that it finalized its buy of Horizon Telcom. The deal was valued at more than $220 million. Horizon provides fiber-optic bandwidth infrastructure services operating primarily in Ohio. Novacap said it partnered with Hamilton Lane, HarbourVest Partners and RCP Advisors to complete the transaction. PRESS RELEASE
Longueuil, QC – June 18th, 2018 – Novacap, one of Canada’s leading private equity firms, announced today that it has finalized the acquisition of Horizon Telcom (“Horizon”). Horizon is a premier provider of fiber-optic bandwidth infrastructure services operating primarily in Ohio. Novacap acquired the company from its owners at a valuation of over US$220,000,000. Horizon began as a local telephone company over 120 years ago and over the last decade has grown its fiber network from 700 route miles to over 4,300 route miles and nearly 550,000 fiber miles with over 1,600 on-net locations and 16,600 near-net buildings.
“The acquisition
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Tensions rise as private equity-backed companies push limits: Reuters

NEW YORK, June 15 (LPC) – Investors are taking the fight against an assault on leveraged loan documentation to the courts as more private equity-backed companies, such as troubled retailer PetSmart, seek flexibility that could lead to raising new debt. Private equity firms have been able to exploit red-hot investor demand for floating rate US leveraged loans and weaken loan documentation as demand continues to outstrip supply, but this has already produced at least two court cases as investors fight back. Legal conflicts have erupted among lenders to US retailers such as Not Your Daughters Jeans (NYDJ) and J Crew in the last 12 months, as issuers added extra debt by exploiting loopholes in their credit documents. PetSmart’s owners took steps on June 4 to potentially create additional flexibility by creating a new unrestricted subsidiary and transferring 16.5% of its online company Chewy into the new facility. Investment
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Qualcomm-NXP deal still waiting for China nod: Reuters

BEIJING/SHANGHAI (Reuters) – China is yet to approve U.S. chipmaker Qualcomm Inc’s (QCOM.O) proposed $44 billion acquisition of NXP Semiconductors (NXPI.O), three people close to the talks said, dismissing an earlier media report that said Beijing had already greenlit the deal. Chinese clearance would remove a long-running roadblock to the deal that has become entangled with broader trade tensions between the United States and China. The acquisition has already got a nod from eight of the nine required global regulators, with China being the only hold-out. Hong Kong-based South China Morning Post reported on Friday morning that China had given its go-ahead to the deal, citing people with knowledge of the matter, driving up shares of the U.S. firm in extended trade. But Reuters sources, who are close to the Qualcomm-NXP deal, said they were not aware of any Chinese approval. One of them said
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Revetas, Goldman Asset Management buy TriGranit

Revetas and Goldman Sachs Asset Management have acquired TriGranit. Financial terms weren’t announced. TPG Real Estate, the real estate platform of TPG, is the seller. TriGranit’s portfolio of Central and Eastern European assets include total gross leasable area of over 173,000 sqm, made up of Class A office buildings fully leased to international tenants and three Class A permitted office development projects. PRESS RELEASE REVETAS ANNOUNCES ACQUISITION OF TRIGRANIT FROM TPG REAL ESTATE Revetas, a specialist real estate investment manager focusing on the Central and Eastern Europe (‘CEE’) region, together with funds managed by Goldman Sachs Asset Management, announced it has acquired TriGranit from TPG Real Estate, the real estate platform of global alternative asset firm TPG. Terms of the transaction were not disclosed. TriGranit’s high-quality portfolio of Central and Eastern European assets comprises a total gross leasable area (GLA) of over 173,000 sqm, made up of Class A
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