The Growth Stage launches funding platform

UK-based The Growth Stage is launching its first funding platform for private growth companies to raise capital from institutional investors. The Growth Stage is focusing on scale-up rather than start-up situations where private companies are raising more than $10 million. The company is planning on raising several funding rounds in 2018. PRESS RELEASE LONDON–(BUSINESS WIRE)–The Growth Stage, a UK based company, is launching today the world’s first funding platform for private growth companies to raise capital from regulated institutional investors (pension funds, retail funds, hedge funds, sovereign wealth funds and family offices), who have over $4tn of assets under management. The Growth Stage has been created to satisfy the increasing demand from institutional investors to invest in high growth, scale-up companies. It has no joining fee for private companies or institutional investors, and charges only 1% of funds raised – challenging the traditional funding model, and providing private companies with
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PSG adds two as managing directors to team

Providence Strategic Growth Capital Partners L.L.C., an affiliate of Providence Equity Partners, has named Bill Aliber and Brian Shin as managing directors. Aliber is an ex-chief financial officer of Ascend Learning while Shin was recently a partner at In-Q-Tel. PRESS RELEASE PROVIDENCE, R.I.–(BUSINESS WIRE)–Providence Strategic Growth Capital Partners L.L.C. (“PSG”), an affiliate of Providence Equity Partners L.L.C., a premier global asset management firm with approximately $60 billion in assets under management, today announced that Bill Aliber and Brian Shin have joined the firm as managing directors. “Bill and Brian’s considerable experience with software and technology-enabled service companies make them an ideal fit for PSG,” said Mark Hastings, Chief Executive Officer of PSG. “With his strong financial acumen and track record of driving significant revenue growth through organic and inorganic strategies, we expect Bill will provide valuable insights to enhance
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PSG adds two as managing directors to team

Providence Strategic Growth Capital Partners L.L.C., an affiliate of Providence Equity Partners, has named Bill Aliber and Brian Shin as managing directors. Aliber is an ex-chief financial officer of Ascend Learning while Shin was recently a partner at In-Q-Tel. PRESS RELEASE PROVIDENCE, R.I.–(BUSINESS WIRE)–Providence Strategic Growth Capital Partners L.L.C. (“PSG”), an affiliate of Providence Equity Partners L.L.C., a premier global asset management firm with approximately $60 billion in assets under management, today announced that Bill Aliber and Brian Shin have joined the firm as managing directors. “Bill and Brian’s considerable experience with software and technology-enabled service companies make them an ideal fit for PSG,” said Mark Hastings, Chief Executive Officer of PSG. “With his strong financial acumen and track record of driving significant revenue growth through organic and inorganic strategies, we expect Bill will provide valuable insights to enhance
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PE-backed Hearthside to acquire Greencore USA

Hearthside Food Solutions, which is backed by Partners Group and Charlesbank Capital Partners, has agreed to acquire Greencore USA, a provider of of refrigerated, fresh-made sandwiches, entrees, and salad kits. No financial terms were disclosed. HSBC and Barclays were financial advisers to Hearthside on the deal with Ropes & Gray LLP providing legal advice to Hearthside, Charlesbank and Partners Group on the transaction. PRESS RELEASE DOWNERS GROVE, Ill.–(BUSINESS WIRE)–Hearthside Food Solutions (“Hearthside”), a leading contract manufacturer, today announced the signing of a definitive agreement to acquire Greencore USA, a leader in frozen contract packaging and a top producer of refrigerated, fresh-made sandwiches, entrees, and salad kits. This transaction marks a significant step in the further growth and development of Hearthside’s network. The transaction remains subject to regulatory approval and customary closing conditions. Greencore USA is the US unit of Greencore Group plc, an Ireland-based public company. Greencore
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PE-backed Citra buys DataWing

Citra Health Solutions, a portfolio company of Great Point Partners, has acquired Portland, Oregon-based DataWing Software LLC, a provider of technology products. No financial terms were disclosed. PRESS RELEASE GREENWICH, CT and RALEIGH, NC – Great Point Partners’ portfolio company, Citra Health Solutions (“Citra”), a trusted provider of benefit administration technology solutions and care management services, has acquired Portland, Oregon based DataWing Software LLC (“DataWing”). Together, Citra and DataWing will provide a comprehensive suite of technology products to value-based care providers. For over 25 years, DataWing has offered software to help Managed Service Organizations (MSOs), Independent Physician Associations (IPAs), and other healthcare providers improve efficiencies and increase profitability. DataWing’s offering integrates with claims adjudication systems (including Citra’s EZ-CAP) to create additional value-added solutions. Additionally, DataWing products help healthcare providers obtain data from payor organizations to confirm the eligibility of patients to receive reimbursement for care. The acquisition
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Hattori joins TransPacific Group

TransPacific Group said Oct. 15 that Akito Hattori has joined the firm as a director in its Hong Kong office. Most recently, Hattori was with HarbourVest Partners Japan, where he focused on Japanese business development. PRESS RELEASE NEW YORK — TransPacific Group, a leading Asia-focused private placement agent, has appointed Akito Hattori to serve as a Director in the firm’s Hong Kong office. The firm, which represents a highly selective group of private equity, credit, infrastructure, and real estate managers, continues to deepen its longstanding relationships with Asian institutional investors. Hattori assumes primary responsibility for institutional investor relationships and fundraising activity in Japan. Hattori joins TransPacific from HarbourVest Partners Japan, where he focused on Japanese business development. He previously worked at JP Morgan, marketing alternative investment products to Japanese and Korean institutional investors, in addition to assisting these investors with asset allocation and manager and market research. Prior to
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Platinum Equity to exit Exterion Media

Global, the U.K. radio group, has agreed to buy Exterion Media Group. Platinum Equity is the seller. Exterion, of London, provides media solutions including billboards, displays on buses and national railways. The deal is valued at 400 million pounds, according to press reports. Mark Boidman of PJ Solomon, along with Goldman Sachs, advised Exterion. PRESS RELEASE Oct 12 — GLOBAL MAKES BINDING OFFER TO ACQUIRE EXTERION MEDIA
GLOBAL MAKES BINDING OFFER TO ACQUIRE EXTERION MEDIA
FOLLOWING THEIR RECENT ACQUISITION OF PRIMESIGHT AND OUTDOOR PLUS INCREASING GLOBAL’S PUSH INTO OUTDOOR MEDIA
Global, the Media & Entertainment Group founded by Ashley Tabor OBE, owner of Heart, Capital, LBC, Classic FM, Smooth, Capital XTRA and Radio X, has enhanced its recent acquisitions of Primesight and Outdoor Plus, with the binding offer to acquire Exterion Media.
Exterion Media is the No 1 media owner in the UK’s transport sector and operates market leading
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Carlyle, Meinian Onehealth Healthcare invest in Adicon Holding

Carlyle Group and Meinian Onehealth Healthcare have invested in Adicon Holding Ltd. Financial terms weren’t announced. Adicon operates 20 diagnostic laboratories in China, offering diagnostic testing outsourcing services to more than 10,000 active customers, including hospitals, clinics and contract research organizations (CROs) in 28 provinces. PRESS RELEASE Hangzhou, China – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced that it, together with Meinian Onehealth Healthcare Holdings Co., Ltd., has invested in and become the single largest shareholder of, Adicon Holding Limited, one of the largest independent clinical laboratory (ICL) companies in China. Equity for the investment came from Carlyle Asia Partners V, Carlyle’s flagship US$6.55 billion fund focused on buyout and strategic investments across a range of sectors in Asia Pacific. Established in 2004, Adicon operates 20 fully-owned diagnostic laboratories in China, offering diagnostic testing outsourcing services to more than 10,000 active customers, including hospitals, clinics
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Carlyle, Meinian Onehealth Healthcare invest in Adicon Holding

Carlyle Group and Meinian Onehealth Healthcare have invested in Adicon Holding Ltd. Financial terms weren’t announced. Adicon operates 20 diagnostic laboratories in China, offering diagnostic testing outsourcing services to more than 10,000 active customers, including hospitals, clinics and contract research organizations (CROs) in 28 provinces. PRESS RELEASE Hangzhou, China – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced that it, together with Meinian Onehealth Healthcare Holdings Co., Ltd., has invested in and become the single largest shareholder of, Adicon Holding Limited, one of the largest independent clinical laboratory (ICL) companies in China. Equity for the investment came from Carlyle Asia Partners V, Carlyle’s flagship US$6.55 billion fund focused on buyout and strategic investments across a range of sectors in Asia Pacific. Established in 2004, Adicon operates 20 fully-owned diagnostic laboratories in China, offering diagnostic testing outsourcing services to more than 10,000 active customers, including hospitals, clinics
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Carlyle to buy Apollo Aviation Group

Carlyle Group said Oct. 15 that it agreed to buy Apollo Aviation Group (AAG), which has $5.6 billion in assets under management including 243 aircraft owned, managed or committed to purchase. AAG will become a new business line, operating as Carlyle Aviation Partners Ltd., within Carlyle’s Global Credit Segment. PRESS RELEASE New York, NY – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced it has agreed to acquire 100% of Apollo Aviation Group (AAG), a global commercial aviation investment and servicing firm with $5.6 billion in assets under management including 243 aircraft owned, managed or committed to purchase. AAG will become a new business line, operating as Carlyle Aviation Partners Ltd., within Carlyle’s Global Credit Segment. The transaction is subject to customary conditions and is expected to close no later than January 31, 2019. Established in 2002, AAG raises closed-end funds from limited
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Carlyle to buy Apollo Aviation Group

Carlyle Group said Oct. 15 that it agreed to buy Apollo Aviation Group (AAG), which has $5.6 billion in assets under management including 243 aircraft owned, managed or committed to purchase. AAG will become a new business line, operating as Carlyle Aviation Partners Ltd., within Carlyle’s Global Credit Segment. PRESS RELEASE New York, NY – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced it has agreed to acquire 100% of Apollo Aviation Group (AAG), a global commercial aviation investment and servicing firm with $5.6 billion in assets under management including 243 aircraft owned, managed or committed to purchase. AAG will become a new business line, operating as Carlyle Aviation Partners Ltd., within Carlyle’s Global Credit Segment. The transaction is subject to customary conditions and is expected to close no later than January 31, 2019. Established in 2002, AAG raises closed-end funds from limited
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EagleTree Capital buys majority of Gaylord Chemical

EagleTree Capital has acquired a majority of Gaylord Chemical Co LLC. Financial terms weren’t announced. Gaylord CEO Paul Dennis, and other existing shareholders, will retain a stake. Alberta Teachers’ Retirement Fund Board and Farol Asset Management are investing in Gaylord alongside EagleTree. Gaylord, of Slidell, Louisiana, is a specialty chemical producer. PRESS RELEASE Slidell, LA and New York, NY – October 15, 2018 – Gaylord Chemical Company, LLC (“Gaylord” or the “Company”), a global leader in specialty chemical production and innovation, and EagleTree Capital (“EagleTree”), on behalf of its private equity fund EagleTree Partners IV, today announced that EagleTree has acquired a majority stake in Gaylord. The Company’s Chief Executive Officer, Paul Dennis, and other existing shareholders will retain a significant stake in the Company. Co-investors, including the Alberta Teachers’ Retirement Fund Board and Farol Asset Management, are investing alongside EagleTree. Terms of the transaction were not disclosed.  
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Equistone-backed Group of Butchers to buy Hartmann

Group of Butchers, a portfolio company of Equistone Partners, has acquired Hartmann GmbH. Financial terms weren’t announced. Hartmann, of Warendorf-Milte, North Rhine-Westphalia, produces meatballs and mince-based products. The three siblings Martina Beuker, Christian Hartmann and Maike Hartmann are selling their stake in Hartmann. PRESS RELEASE Munich/Tilburg/Warendorf-Milte, 15 October 2018 – Group of Butchers, the Dutch supplier of high-quality meat and mince-based products in which Equistone Partners Europe acquired a majority stake in January 2017, today announces the acquisition of Hartmann GmbH, a leading family-owned German producer of meatballs and mince-based products. The deal represents Group of Butchers’ first move into the German market and strengthens the company’s position as one of the leading producers of artisan meats by extending its product range to include a number of traditionally prepared mince-based products. The financial terms of the deal are undisclosed and completion of the sale remains subject to the
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SmileDirectClub raises $380 mln

SmileDirectClub said Oct. 10 that it completed a $380 million private placement led by Clayton, Dubilier & Rice. Kleiner Perkins and Spark Capital also invested. SmileDirectClub, of Nashville, provides invisible aligners to straighten teeth. J.P. Morgan served as placement agent to SmileDirectClub in connection with the transaction. Adam PhillipsJonathan Manor and Karen Lee of Kirkland & Ellis represented CD&R. PRESS RELEASE NASHVILLE, TENN., Oct. 10, 2018 (GLOBE NEWSWIRE) — SmileDirectClub, the pioneer of at-home, doctor-directed aligner therapy, today announced the completion of its first institutional private placement of equity capital for a total of $380 million. In addition, the Company received a valuation of $3.2 billion. Clayton, Dubilier & Rice (CD&R), one of the world’s leading private equity investors, led the financing, which included meaningful participation from Kleiner Perkins and Spark Capital. As part of the transaction, Rick Schnall, a CD&R Partner, will join SmileDirectClub’s
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Internet Brands’ WebMD buys MediQuality

WebMD Health Corp, which is owned by Internet Brands, has acquired MediQuality, a Belgian provider of medical news and information for healthcare professionals in the Benelux market. No financial terms were disclosed. Drake Star Partners was sell-side adviser to Citobi, the parent company of MediQuality. Internet Brands is a portfolio company of KKR and Temasek. PRESS RELEASE PARIS (October 12, 2018) – WebMD Health Corp, an Internet Brands company (and a portfolio company of KKR and Temasek) has acquired MediQuality, a Belgian based provider of medical news and information for healthcare professionals in the Benelux market. Drake Star Partners acted as a sell-side advisor to Citobi, the parent company of MediQuality. Based in Louvain-La-Neuve (Belgium), MediQuality is the leading digital and online provider of information for health care professionals in Benelux (Belgium, the Netherlands, and Luxembourg). It reaches more than 50,000 physicians and other health care professionals each
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Spectrum Equity buys majority of AllTrails

Spectrum Equity said Oct. 11 that it has acquired a majority of AllTrails. Financial terms weren’t announced. AllTrails, of San Francisco, provides a digital guide to the outdoors. AllTrails was advised by Stubbs Alderton & Markiles while GP Bullhound served as financial adviser. Spectrum Equity was advised by Latham & Watkins. PRESS RELEASE Boston and San Francisco, October 11, 2018 (Newswire.com) -Spectrum Equity announced that it led a substantial new investment in AllTrails, the most trusted and used digital guide to the outdoors, to help accelerate product development, add more trail content around the world and grow the company’s user base. As part of the transaction, Spectrum acquired a majority stake in AllTrails, in partnership with the company’s CEO Jade Van Doren, and COO Ron Schneidermann.
AllTrails helps over 9 million registered users discover, record and share their outdoor experiences, including hiking, mountain biking and trail running. AllTrails has
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Trive and Five Crowns recap Picture Head

Trive Capital and Five Crowns Capital have recapitalized Los Angeles-based Picture Head, a provider of critical post-production content editing, finishing and storage services for leading feature film, episodic TV and other media studios. No financial terms were disclosed. PRESS RELEASE Trive Capital (“Trive”), the Dallas-based private equity firm and Newport Beach-based Five Crowns Capital (“Five Crowns”) sponsored the recapitalization of Picture Head Holdings, LLC (“Picture Head” or the “Company”) to support its continued expansion. Picture Head is a facility-based, tech-enabled business services company that provides critical post-production content editing, finishing and storage services for leading feature film, episodic TV and other media studios. The platform operates through three divisions, Picture Head, Picture Shop and Formosa Group, with multiple locations in North America focused on complementary areas of the post-production services supply chain. The Company services a diverse set of studio relationships, streaming providers and related content creation customers by
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Charlesbank expands senior team with two new additions

Charlesbank has added Hiren Mankondi and Camille DeLaite to its senior team. In their new roles, Mankondi will lead technology investments for the Boston and New York-based private equity firm while DeLaite will lead talent development efforts across Charlesbank’s portfolio. Prior to joining Charlesbank, Mankondi was a partner at Pamplona Capital and DeLaite was a partner at Green Peak Partners. PRESS RELEASE Charlesbank Announces Additions to Senior Team Hiren Mankondi
Previously a Partner at Pamplona Capital, where he co-led investing its $1 billion TMT fund, Hiren will lead technology investments for Charlesbank. Prior to this, he spent 12 years with Audax Group, most recently as Managing Director, heading investment activity in information technology, software and industrial technology companies. Earlier in his career, he was at Highland Capital Partners and Accenture. He earned a BS in electrical engineering from Brown University and an MBA from Harvard Business School. “We believe technology
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