Weekly Investment Picks (April 27 to May 4)
May 05, 2020
The latest family office and institutional deals from the past week.
Greek telecoms operator Forthnet to be acquired by PE firm
Greek newspaper eKathimerini reported this week that telecom giant Forthnet would be acquired for €100m by private equity firm BC Partners, owner of United Group. The deal expands United Group’s network in Europe.
Apollo invests $300m in Irish printing company
Apollo Global Management, the publicly-listed private equity firm, has initiated a deal to acquire a stake in Ireland-based Cimpress. The deal is worth $300m according to sources familiar with the matter. CImpress owns Vistaprint, the commercial printing platform.
Fashion brand Hush sells major stake to private equity firm
True, a private equity firm focused on consumer brands, has agreed to acquire a 50% stake in British fashion brand Hush for an undisclosed sum. Since it launched in 2003, Hush has expanded across the globe and recently reported revenue exceeding £50m.
Warburg Pincus joins the fight against COVID-19 through biotech investment
Private equity giant Warburg Pincus has invested in biotech business Polyplus-Transfection. Sources claim the deal is worth €550m and makes Warburg Pincus an equal shareholder alongside ArchiMed, an investment firm focused on healthcare.
Huntsworth taken private for £577m
British healthcare communications firm Huntsworth has been taken private by US-based private equity firm Clayton, Dubilier & Rice. The firm paid 108 pence per share for the deal, a 50% premium to the previous closing price on the London Stock Exchange.
Ardian acquires a minority stake in Argon & Co
Paris-based management consultancy Argon & co. has sold a minority stake to growth fund Ardian for an undisclosed sum. Ardian’s growth fund raised consultancy, for an undisclosed sum. The transaction was made via Ardian’s second growth fund, which closed €230m in 2018.
Engage Brands acquires Boston Market
Restaurant chain Boston Market has been acquired by Pizza Hut and Checkers & Rally’s franchise operator Engage Brands. The company was previously owned by Sun Capital Partners.
Steiner Leisure and Neuberger Berman Investment Advisers invest in OneSpaWorld
Nasdaq-listed OneSpaWorld Holdings Ltd., a provider of health and wellness services to cruise ships and resorts, has received $75 million in funding from investment firm Neuberger Berman and wellness firm Steiner Leisure.
Docupace acquired by FTV Capital
Cloud-based digital software company focused on the wealth management industry, Docuspace has been acquired from Palisades Growth Capital. FTV Capital paid an undisclosed sum for the startup.
Supernus Pharmaceuticals acquires US WorldMeds’ portfolio
US WorldMeds Holding LLC, a Louisville-based manufacturer of pharmaceutical preparation, has sold its CNS portfolio for $530 million. Supernus Pharmaceuticals has agreed to $300 million in cash and $230 million in payments tied to future profits.
Mojo Vision Raises $51 million in latest round
Saratoga, California-based Mojo Vision, a startup trying to develop augmented reality contact lenses has secured $51 million in fresh funding. New Enterprise Associates led the round, with participation from investors such as Khosla Ventures and Gradient Ventures.
Ontic raises $12 million in Series A
Austin-Based Ontic, a software developer that enables businesses to implement physical distancing measures, has raised $12 million in its latest round. The round was led by Felicis Ventures and included Silverton Partners, Floodgate and Village Global.
Josh.ai raises $11 million in Series A
Denver-based Josh.ai, a home automation hardware and software startup, has raised $11 million in its latest round of funding. The company employs 30 people and intends to expand to 50 by the end of the year.
Pivot Bio Lands $100 million in latest round
Berkeley-based Agriculture tech startup Pivot Bio has raised $100 million in its latest round of funding. The round was led by Breakthrough Energy Ventures and Temasek, according to a statement from the company.
Dascena raises $50 million in Series B
Machine-learning diagnostic algorithm developer Dascena Inc. has raised $50 million in its latest round of funding. The round was led by Frazier Healthcare Partners and included Longitude Capital, as well as existing investor Euclidean Capital.
Procore Technologies raises $150 million. Is now worth $5 billion.
Southern California-based construction management software firm Procore Technologies has raised $150 million in its latest round of funding. The company has decided to cancel its initial public offering and is now worth $5 billion, according to Bloomberg.
ASAPP raises $185 million In Series B
Artificial intelligence customer service startup ASAPP has raised $185 million in its latest round of funding. The round included John Doerr, Dave Strohm, Emergence Capital and March Capital Partners.