Weekly Investment Picks (April 6 to April 13)
April 13, 2020
The latest family office and institutional deals from the past week.
Harwood Capital to take Fulcrum Utility Services private
London-listed utility infrastructure and services provider Fulcrum Utility Services is being taken private by UK-based private equity firm Harwood Capital. Harwood paid £14 million to acquire up to 53.5 million ordinary shares in Fulcrum at a price of 26.25p per share- a 47.5% premium to its closing price on April 7.
Oakley Capital exits Inspired for £99m
Oakley Capital Investments (OCI) has sold its stake in Inspired, an institutional education firm. Oakley first acquired the stake in 2013. Proceeds from the exit are estimated at £99m.
EQT to acquire French hand sanitiser producer
Sweden-based EQT, a private equity firm, has struck a deal to acquire Schülke, the hand sanitizer and personal hygiene products unit from French industrials group Air Liquide. The company intends to increase supply in the near-term as demand spikes on account of the COVID-19 pandemic.
Palatine Private Equity invests in IT services provider Acora
Acora, a managed IT services provider, has sold a minority stake to UK-based Palatine Private Equity for an undisclosed sum.
Airbnb is raising $1bn in fresh funding
Private equity firms Silver Lake and Sixth Street have invested $1 billion in home sharing giant Airbnb. The company intends to use part of the funds to support its hosts through the ongoing pandemic shutdown.
NHS data privacy provider Privitar raises $80m
Investors including ABN Amro Ventures, Salesforce Ventures, IQ Capital, Partech and Accel have completed a Series C funding round in Privitar. The company provides data privacy services to the UK’s National Health Service (NHS). The round was led by private equity giant Warburg Pincus.
Elysian sells software provider Wellbeing
UK-based private equity firm Elysian has completed its sixth exit through its sale of Wellbeing Software Group Holdings. Wellbeing provides radiology and maternity software solutions to manage patient workflow and data. Australian technology company The Citadel Group paid £103m for the firm, 4.3 times higher than Elysian’s cost-basis.
SoFi to acquire Galileo Financial for $1.2 billion
Galileo Financial Technologies, a Salt Lake City-based provider of transaction processing software and transaction processing APIs, has been acquired by Social Finance Inc. The deal expands the San Francisco-based fintech company’s portfolio of FinTech solutions which already includes student loans and cryptocurrency trading.
Southwest Generation to acquire Mankato Energy for $680 million
Northern States Power Co. has sold its electrical contractor Mankato Energy Center LLC for $680 million. The unit is a natural gas-fired power plant.
Prime Healthcare to acquire St Francis Medical Center for $350m
Verity Health System of California Inc. has offloaded hospital operator St Francis Medical Center for $350m. The company is now bankrupt and has been trying to sell the unit since 2018.
AcreTrader raises $5 million seed round
RZC Investments has led a seed round in farmland crowdfunding startup AcreTrader. The platform intends to expand across the U.S. to help make farmland investments mainstream.
Living Security raises $5 million Series A
Austin-based enterprise security awareness software provider Living Security has raised $5 million in its Series A round of funding. The round was led by led by Silverton Partners. Existing investors Active Capital and new investors Rain Capital and SaaS Venture Partners also participated in the financing.
SilverCloud raises $16M Series B
The MemorialCare Innovation Fund has led a Series B round of funding in digital mental health platform SilverCloud Health. The Boston-based company’s platform is used by over 300 healthcare service providers across the globe.
IFM Restoration Raises $10M Series A
Dallas-based home repair startup IFM (Integrity First Maintenance) has raised $10 million in its latest round of funding. Austin-based S3 Ventures and San Francisco-based Brick & Mortar Ventures led the round.
Cohesity Receives $250M in latest round
Data storage startup Cohesity has raised $250 million. The round, led by DFJ Growth, Greenspring Associates, Foundation Capital and Wing Venture Capital, raises the startup’s valuation to $2.5 billion.
Tonkean Raises $24M Series A
Lightspeed Venture Partners has led a Series A round in automation software developer Tonkean. The San Francisco-based startup raised a $7.2 million seed investment last year.