Weekly Investment Picks (April 20 to April 27)
April 28, 2020
The latest family office and institutional deals from the past week.
Cath Kidston rescued by Baring Private Equity
Baring Private Equity Asia has acquired British retailer Cath Kidson for an undisclosed sum. The company will shut all 60 stores across the UK as part of the deal and has already announced it will furlough 820 of its 940 employees across the country.
Pyrex brand distributor acquired for €60m.
Los Angeles-based Aurora Capital has sold its stake in International Cookware Group, the distributor of the iconic Pyrex brand. The company was acquired by European private credit firm Kartesia.
Sweden’s Assistansbolaget acquired for undisclosed sum
Swedish road assistance firm Assistansbolaget has been acquired by Stirling Square Capital Partners. Stirling is a mid-market private equity firm based in London. Although the firm did not disclose financial details of the deal, it focuses on acquisitions ranging from €50 million to €500 million.
Ardian invests in France’s Euro4x4parts
Ardian (formerly Axa Private Equity), a France-based, independent private equity investment company, has acquired a minority stake in French autoparts giant Euro4x4parts for an undisclosed sum. The company employs 80 people across 8 locations and distributes over 70,000 parts across Europe.
KKR acquires minority stake in Mirastar
Private equity giant KKR has acquired a minority stake in Mirastar for an undisclosed sum. Mirstar is an investment management firm focused on industrial and logistics assets across Europe.
Medallia to acquire Voci Technologies for $59 million.
Pittsburgh-based Voci Technologies, a software publisher, has been acquired by Medallia for a total $59 million in cash. Publicly-listed Medallia is a customer experience company based in California.
Affinivax raises $120 million in Series B
Boston-based biotechnology startup Affinivax has closed on a $120 million Series B funding round this week. The round was led by Viking Global Investors and included Bain Capital Life Sciences and Ziff Capital Partners.
SimpliRoute raises $3 million in Series A
Chile-based SimpliRoute has secured a $3 million Series A round led by TheVentureCity. The company provides urban logistics solutions for delivery, retail, and e-commerce enterprises.
AvidXchange raises $128 million in extended Series F round
Charlotte-Based Fintech Unicorn AvidXchange has extended its latest round of funding (previously pegged at $280 million) to add another $128 million. The extension investors included Lone Pine Capital, Schonfeld Strategic Advisors, Pivot Investment Partners, MasterCard, Sixth Street Partners and Neuberger Berman. AvidXchange is now worth over $1 billion.
Clever Care raises $20 million in Series A
Westminster, California-based Clever Care Health Plan has raised $20 million in its latest round of funding. The round was led by Norwest Venture Partners with participation from Global Founders Capital.
Bestow raises $50 million in Series B
Dallas-based digital life insurance platform, Bestow, has raised $50 million in a Series B round of funding. Peter Thiel’s Valar Ventures led the round. Existing investors NEA and Morpheus Ventures, and Core Innovation Capital also participated in the round.
Relationship training app Relish secures $5M Series A
In a round led by Bessemer Venture Partners, with participation from previous investors Trinity Ventures and Bullpen Capital, Relish has raised $5 million. The platform uses data-driven algorithms to create relationship improvement plans for users.
AI startup Peak extends Series A by $12 million
United Kingdom based Peak has extended its latest funding round by an additional $12 million. The enterprise software firm hopes to make artificial intelligence tools more accessible for businesses. The round was led by existing investors MMC Ventures and Praetura Ventures.