7 Feb, 2022
GenNx360 invests in Nutra-Med; Lynx acquires Obel-P Automation
* Middle-market private equity firm GenNx360 Capital Partners invested in Whippany, N.J.-based contract packaging company Nutra-Med Packaging Inc.
* Toronto-based Lynx Equity Ltd. acquired Danish equipment manufacturer Obel-P Automation A/S, which specializes in the production of automation equipment for the wood industry.
➤ Renewable IPO surge could subside in 2022 as window for transactions closes
An enormous pool of environmental, social and governance-oriented capital continues to chase energy transition investments, but interest rate concerns are compressing EBITDA multiples to maintain a high barrier to entry.
➤ Many US banks on the prowl for M&A opportunities
Remarks from executives on recent earnings calls shows that several U.S. banks are open to pursuing acquisitions.
DEALS
* Lion Equity Holdings II LLC, an affiliate of Lion Equity Partners LLC, purchased Elkhart Tri-Went Industrial from Netherlands-based manufacturer of mission critical technologies Aalberts NV. Elkhart Tri-Went manufactures complex extruded aluminum components and fabricated copper tube products.
FUNDRAISING
* SuperSeed Ventures LLP raised £31 million at the final close of its latest fund, Private Equity Wire reported. The vehicle will invest in startups based in the U.K.
* Artisanal Ventures closed its oversubscribed inaugural fund, Artisanal Ventures I LP, at $62 million, according to Private Equity Wire. The fund invests in high-growth companies.
* Noemis Ventures Management LLC closed its debut fund with $25 million in total commitments. The fund plans to invest in 25 to 30 companies at the pre-seed or seed stage.
VENTURE CAPITAL
* RoadRunner Recycling Inc., a provider of recycling and waste management services, raised $70 million at the close of a series D funding round led by BeyondNetZero.
* Celestial AI Inc., an artificial intelligence-accelerator company, raised $56 million in a series A funding round led by Koch Disruptive Technologies LLC, Private Equity Wire reported. The round also saw participation from Xora Innovation and The Engine, among other investors, the report said.
* Novi Connect Inc., a business-to-business marketplace for ingredients and packaging, secured $40 million in a funding round led by Tiger Global Management LLC. Greylock Partners and Defy Partners Management LLC also took part in the funding round.
* Healthcare company Reliance Health secured $40 million in a series B funding round led by General Atlantic Service Co. LP. Picus Capital GmbH and P1 Ventures, among other investors, participated in the round.
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