14 Jun, 2022
Private equity firms eye Together stake; Hg selling MediFox at $1B valuation
* Bain Capital LP and JC Flowers & Co. LLC tapped bankers at Morgan Stanley to advise on the possible purchase of an up-to-40% stake in mortgage lender Together Financial Services Ltd., Sky News reported. Another consortium comprising Centerbridge Partners LP and Bayview Asset Management LLC is also bidding for the stake. A deal could value Together at about £1.7 billion, according to the report.
* HgCapital LLP agreed to sell MediFox GmbH, a provider of software solutions to care and therapy providers, to ResMed Inc. The transaction values MediFox at approximately $1 billion.
➤ BNY Mellon's debt management unit sale tops European financials M&A deals in May
M&A deals in European financials could see a slight boost from big banks looking to sell their activities in Russia in a bid to limit the potential fallout from the war in Ukraine.
➤ Foreigners can participate in Vietnam's growth story by investing in its banks
Seventeen out of 27 listed banks are looking to raise about $2.8 billion in 2022 to increase lending, fund growth and pay dividends, according to a report from Vietnamplus.
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DEALS
* Life insurance provider AmeriLife Group LLC secured an undisclosed amount of investment from Genstar Capital LLC.
* Bow River Capital Partners completed its strategic investment in performance improvement solutions provider One10 LLC. Financial terms of the investment were not disclosed.
* Funds managed by affiliates of Apollo Global Management Inc. agreed to buy Hispanic-focused grocery retailer Cardenas Markets Inc. from investment funds affiliated with KKR & Co. Inc. As part of the transaction, the funds will merge Cardenas Markets with Apollo portfolio company Tony's Fresh Market Inc.
* The Riverside Co. invested in Actando SA, which offers learning solutions to life sciences commercial teams. The investment is an add-on to Riverside's Red Nucleus Solutions LLC platform.
FUNDRAISING
* EcoVadis SAS raised $500 million in a fundraising round led by Astorg Partners, BeyondNetZero, General Atlantic Service Co. LP's climate investing arm, GIC Pte. Ltd. and Princeville Capital, Reuters reported. The financing brings the sustainability data firm's total capital raised to over $725 million.
* Automated sports video and analytics solutions provider Pixellot Ltd. raised $161 million in a series D funding round led by PSG Equity LLC.
* Health technology company Capital Rx Inc. secured $106 million in a series C funding round led by B Capital Group Management LP. The round brings Capital Rx's overall funding to $175 million.
* ImCheck Therapeutics SAS raised €96 million in a financing co-led by Earlybird Venture Capital GmbH & Co. KG and Andera Partners. The funding comprises €80 million from a series C round and €16 million from the last outstanding tranche of series B converted into series C shares.
VENTURE CAPITAL
* Kairos Ventures Partners secured $58 million in capital commitments at the close of its third fund. Fund III has already made 27 investments in various companies.
* Cybersecurity and technology-focused venture capital firm Blu Venture Investors Cyber GP LLC closed its first fund with almost $25 million in commitments. Blu Ventures Cyber Fund LP has so far completed three transactions amounting to about $2.7 million.
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