Weekly Investment Picks (June 29 to July 8)
July 09, 2020
The latest family office and institutional deals from the past week.
Carlyle acquires language translation software provider Memsource
Carlyle Europe Technology Partners IV, with €1.35 billion in assets under management, is set to acquire a majority stake in Memsource, a translation software company based in Czech Republic. Although financial terms of the deal were not disclosed, the fund typically invests between €30 to €80 million.
KKR acquires a controlling stake in Indian pharmaceutical company JB Chemicals & Pharmaceuticals
Private equity giant KKR has agreed to pay 745 rupees ($9.96) a share for another 26% stake in JB Chemicals & Pharmaceuticals. The deal is priced at a 4.5% premium to the company’s current market price per share.
Axcel acquires Swedish IT services provider AddPro
Denmark-based private equity firm Axcel has agreed to acquire AddPro, an IT services provider, for an undisclosed sum. Founded in 2000, AddPro offers application and cloud integration services.
Intriva Capital acquires UK-based peer-to-peer lender LendingWorks
Special situation investment specialist Intriva Capital has acquired a stake in British peer-to-peer lending platform LendingWorks for an undisclosed sum. The company has disbursed over £250 million in loans since inception in 2014 and hopes to scale past £1 billion in lending by 2025.
AP Moller – Maersk agrees to buy KGH Customs Services from Bridgepoint
Shipping giant AP Moller – Maersk has agreed to pay SEK 2.6bn ($279m) to acquire customs broker KGH Customs Services from Bridgepoint Development Capital. The deal is expected to be completed in cash at a valuation that is 16.3 times the company’s trailing annual earnings.
Hg’s Mercury 2 fund invests in German software provider F24
British private equity firm Hg has acquired a substantial stake in F24, a software provider based in Munich, for an undisclosed sum. F24 is considered Europe’s leading SaaS provider for alerting and crisis management as well as critical business communication.
Silver Lake to acquire Silae, a French human resources software provider
Investment giant Silver Lake is expected to acquire Silae, a HR software specialist based in France’s Aix-en-Provence. While financial details of the deal were not disclosed, Silae claims to have doubled revenue and tripled earnings in the past two years. The company now serves 550,000 businesses and 4 million employees across the country.
KKR acquires retirement and life insurance company Global Atlantic Financial Group for $4 billion
Private equity giant KKR has expanded its assets under management by acquiring retirement and life insurance company Global Atlantic Financial Group. The deal is on par with Global Atlantic’s book value is set to be completed next year.
Tikehau’s T2 Energy Transition Fund Invests in Euro Group Laminations
Paris-based Tikehau’s T2 Energy Transition Fund, which has raised €500 million in funding last year, has acquired a 30% stake in Italian steel components provider Euro Group Laminations. This is the fund’s first deal since raising funds.
Jüsto raises $12M in Pre-Series A Round
Mexico City-based online supermarket Jüsto has raised a pre-Series A round of $12 million. The company raised $10 million in seed funding last year. The company plans to expand operations across ten Mexican cities before eventually entering neighboring Colombia.
Veriff raises $15.5M
Estonia-based identity verification platform Veriff has raised fresh funding to fuel overseas expansion. The company can already verify ID documents from 190 countries in 35 languages.
Uber acquires Postmates for $2.65 billion
Ridesharing giant Uber Technologies has acquired food delivery startup Postmates for $2.65 billion. The company’s stock surged 8% on the news this week.
Wagestream Raises $25M
British fintech startup Wagestrem has raised $25 million in new funding this week. The company hopes to provide better access to capital for wage earners across the country.
OwnBackup raises $50 million in Series D
Insight Partners has led a round of investment in data software service provider OwnBackup. The $50 million in new funding will help the company store and protect for software-as-a-service (SaaS) companies across the world.
Truepill raises $25M in Series B
California-based health tech startup Truepill has raised $25 million in funding in a round led by an unnamed investor. TI Platform Fund, Optum Ventures, Initialized Capital and Sound Ventures were also involved in the round.
Perfect Day extends Series C round to $300 million
Perfect Day, a startup that makes animal-free dairy proteins whey and casein, has raised $300 million in its latest round of funding. The company’s previous funding rounds were led by Temasek Holdings and The Canada Pension Plan Investment Board.
The Mom Project raises $25M in Series B
The Mom Project, a Chicago-based startup that helps working moms find jobs, has raised $25 million in a Series B round of funding. The round was led by 7 Global Capital and also included Citi, Synchrony, High Alpha and Silicon Valley Bank, alongside existing investors Initialized Capital, Grotech Ventures, OCA Ventures, Aspect Ventures, Wintrust Financial, IrishAngels and Engage Ventures.
Doctor On Demand Raises $75M in Series D
San Francisco-based virtual care provider Doctor On Demand secured $75 million in a Series D round of funding. The round was led by General Atlantic, however other investors were undisclosed.