5 Nov, 2021
H.I.G. buys Beco Holding; Astara acquires majority stake in BDV Solutions
* An affiliate of H.I.G. Capital LLC acquired BECO Holding Co. Inc., a distributor and service provider of fire suppression, life safety and kitchen system equipment. The company's leadership team will retain a significant ownership stake in the business.
* Middle-market private equity firm Astara Capital Partners acquired a majority stake in employment-based immigration services provider BDV Solutions LLC in partnership with its current owners, including founder and CEO Britt Vergnolle.
➤ Fed's taper plan hammers odds of near-term interest rate hike
The market has placed higher odds on a rate hike in summer 2022. The central bank, meanwhile, will be patient, Chairman Jerome Powell said.
➤ LatAm financial sector sees fewer capital offerings in Q3
During the three-month period ended Sept. 30, issuances during the period in the region, excluding the British Virgin Islands, the Bahamas and the Cayman Islands, came to 13.
DEALS
* KKR & Co. Inc. invested in SK E&S Co. Ltd. by purchasing 2.4 trillion South Korean won worth of redeemable convertible preferred shares newly issued by the South Korean energy company. SK E&S will use the investment to fund its transformation into a global clean energy solution provider.
* The Carlyle Group Inc. offered to buy U.K.-based Metro Bank PLC, according to Dow Jones Newswires. Metro Bank advised its shareholders to take no action at this stage.
* Inflexion Partners is working with advisers from Clearwater International for the potential sale of Goals Soccer Centers, Sky News reported. A deal could value the business at £200 million, the news outlet said, citing sources.
* CAI Capital Partners acquired Midwestern Electric, an Indiana-headquartered infrastructure services provider focused on specialty electrical services.
FUNDRAISING
* San Diego-based Section 32 LLC collected $740 million at the close of its oversubscribed fourth venture fund. Section 32 Fund 4 will invest in the technology and healthcare sectors.
* Mission BioCapital LP raised $275 million for its Mission BioCapital V LP. The vehicle already funded seven companies and acted as a co-founder in four of them.
VENTURE CAPITAL
* Upwest Labs LLC raised $70 million for its fourth fund. Upwest backs Israeli startups looking to enter the U.S. market.
* New York-based Social Impact Capital secured $42 million at the close of its first fund.
* Fountain, a hiring platform for enterprises, raised $85 million in series C financing led by SoftBank Vision Fund 2. B Capital Group Management LP, Mirae Asset Venture Investment Co. Ltd. and Uncork Capital, among other investors, took part in the round.
* PubNub Inc., a provider of data stream network for developers of real-time applications, secured $65 million in a series E financing round led by The Raine Group. Sapphire Ventures LLC and Scale Management LLC, among other investors, also took part in the round.
* BabyList Inc., an online baby registry services provider, raised $40 million in series C funding round led by NVP Associates LLC. Halogen Ventures Partners LLC and Marcy Venture Partners LLP, among other investors, participated in the round.
* Analytics solutions provider Neuro-ID Inc. secured $35 million in a series B round of funding led by Canapi Ventures, with participation from Fin Venture Capital LLC and TTV Capital LLC.
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