North Lane Technologies, a payments technology company, completed the merger with daVinci Payments, a prepaid bankcard solutions provider. The combined entity operates under the umbrella of Syncapay, a holding company for payment technology and solutions companies, which will receive a new majority equity investment from funds advised by Centerbridge Partners. Financial terms were not disclosed.
"Cutting-edge payment experiences across expanding markets present major growth opportunities. We will continue to advance payments across the most relevant form factors and constantly ensure that people are paid when, where and how they want to be paid. The future of payments is digital, global and seamless, and we look forward to realizing the opportunities that the expanding market provides," David Josephs, daVinci CEO.
daVinci Payments was advised by Raymond James, Goodwin Procter and Idea Grove. North Lane Technologies was advised by Moelis & Co, Noerr, Ropes & Gray and Vested. Centerbridge Partners was advised by Piper Sandler, Kirkland & Ellis and Kekst CNC.
Silver Spike Acquisition, a publicly-traded special purpose acquisition company, agreed to merge with WM Holding, a technology and software infrastructure provider to the cannabis industry, in a $1.5bn deal. After closing, WMH will become a public company.
"We are thrilled to partner with Silver Spike to transition WMH to our next phase of growth as a public company. Our partnership with Silver Spike will provide us a stronger platform to advance our mission to advocate for legalization, social equity and licensing in many jurisdictions while providing cannabis businesses with the tools needed to succeed in a highly complex world of regulations," Chris Beals, WMH CEO.
WM Holding is advised by Rothschild & Co, Cooley and Gibson Dunn & Crutcher. Silver Spike is advised by Piper Sandler, Stifel, Davis Polk & Wardwell and Gasthalter & Co.
Kainos Capital, a private equity firm focused exclusively on the food and consumer industry, completed the acquisition of Nutrisystem, a direct-to-consumer nutrition and weight management brand, from Tivity Health, a provider of health improvement, nutrition, fitness and social engagement solutions, for $575m. The private capital group of MSD Partners partnered with Kainos Capital in the form of a preferred and common equity investment.
"We are excited to reestablish Nutrisystem as an independent company that is well-positioned to help the significant portion of the US population that wants to be healthier, yet struggles with weight management. For the approximately 40% of adults who are considered overweight – and increasingly at risk for a range of serious conditions – Nutrisystem can play an important role in helping improve quality of life. Nutrisystem is a valuable partner to its customers, particularly during the Covid pandemic when it is more challenging for many people to access affordable, healthy meals," Andrew Rosen, Kainos Managing Partner.
Kainos Capital was advised by Rabobank, Winston & Strawn and Kekst CNC. Tivity Health was advised by Lazard, Bass Berry & Sims and Sard Verbinnen & Co. Debt financing was provided by Rabobank.
Berkshire Partners, a Boston-based investment firm, completed the acquisition of a stake in FoodChain ID, a provider of food safety, testing and sustainability, from private equity firm Paine Schwartz Partners. Financial terms were not disclosed.
"We are excited to collaborate with Berkshire Partners through the next chapter of our growth. The Berkshire team understands our business well and shares our vision for the future. My team and I look forward to continuing to support our customers with an expanding suite of global food safety and quality solutions," Brad Riemenapp, FoodChain ID CEO.
FoodChain ID was advised by Houlihan Lokey and Morrison & Foerster. Berkshire Partners was advised by Robert W Baird, Covington & Burling and Paul Weiss Rifkind Wharton & Garrison. Paine Schwartz is advised by Joele Frank.
Alaska Communications, a full-service telecommunications provider, together with Macquarie Capital and GCM Grosvenor, two private equity firms, agreed to an amendment and restatement of their previously announced definitive agreement and plan of merger to increase the per-share consideration payable to Alaska Communications' stockholders to $3.2 per share in cash from $3 per share. The transaction is now valued at approximately $320m, including debt.
The revised per-share consideration represents a premium of approximately 68% over Alaska Communications' closing per share price of $1.91 on November 2, 2020. The transaction is subject to the approval of Alaska Communications' stockholders, regulatory approvals and other customary closing conditions.
Alaska Communications is advised by B. Riley FBR and Sidley Austin. Macquarie Capital and GCM Grosvenor are advised by Macquarie Group, Morgan Lewis & Bockius and Goodwin Procter.
Partners Group, the global private markets investment manager, agreed to acquire Wedgewood Pharmacy, a US animal-health compounding pharmacy business, from private equity firm New Harbor Capital. Financial terms were not disclosed.
"Wedgewood operates in an attractive, resilient market segment with strong fundamental growth drivers identified by our Thematic Sourcing approach. We have strong conviction in the pet and veterinary sector and the company's talented management team, as well as in our ability to offer significant value given our established success building franchised specialty healthcare platforms in the US. The company is an excellent candidate to achieve its next phase of growth supported by Partners Group's transformational investment strategy of operational improvement through active ownership. We look forward to working with Wedgewood to build further value in the business on behalf of all its stakeholders," Chris Russell, Partners Group Managing Director.
Wedgewood is advised by RSM International, Lincoln International and Reed Smith. Partners Group is advised by KPMG and Ropes & Gray.
Syneos Health, a fully integrated biopharmaceutical solutions organization, completed the acquisition of Synteract, a full-service CRO focused on the rapidly growing emerging biopharma segment. Financial terms were not disclosed.
"Synteract is one of the leading mid-sized, late-stage-focused CRO platforms with global reach and an attractive focus on the highest growth customer segment in the CRO space fueled by near-record funding levels. With Synteract, we will strengthen our leadership across the entire SMID category while we continue to drive growth among large biopharma customers. Importantly, we share operating and cultural philosophies built around finding the best combination of product, process and technology to fuel innovation. I look forward to welcoming Synteract to the Syneos Health family, as we collectively work to change patients’ lives," Alistair Macdonald, Syneos Health CEO.
Synteract was advised by Jefferies & Company and Skadden Arps Slate Meagher & Flom. Syneos Health was advised by Latham & Watkins and Joele Frank.
Main Post Partners, a private equity investment firm with deep experience partnering with high growth consumer brands, completed the investment in Duke Cannon, a fast-growing men's grooming company. Financial terms were not disclosed.
"We have long admired the brand that Sam, Anthony and Ryan have built and are believers in the quality of their products and mission-driven purpose of the brand. Duke Cannon is disrupting this large category and we are excited to support the team as they grow their base of loyal customers both online and in-store," Jeff Mills, Main Post Partners Managing Partner.
Duke Cannon was advised by Houlihan Lokey and Faegre Drinker Biddle & Reath. Main Post Partners was advised by Morrison & Foerster and Chris Tofalli.
Refinitiv, a global provider of financial market data and infrastructure, completed the acquisition of GIACT, a payment solutions provider, from private equity firm Tritium Partners. Financial terms were not disclosed.
"The nature of financial crime, including fraud tactics is rapidly evolving and becoming more sophisticated. This presents significant challenges for organizations as they embrace online transactions and digital onboarding of customers. With the addition of GIACT, we can bring customers a comprehensive platform to address fraud, identity theft, money-laundering and payment-related crimes. I'm excited at the prospect of combining the expansive data sets, powerful analytics and human expertise of both organizations to the benefit of our customers, and I look forward to welcoming GIACT to Refinitiv," Phil Cotter, Refinitiv Managing Director.
GIACT was advised by Raymond James. Refinitiv was advised by Evercore and Simpson Thacher & Bartlett.
Thoma Bravo, a private equity investment firm focused on the software and technology-enabled services sector, agreed to invest in Venafi, a privately held cybersecurity company that develops software to secure and protect cryptographic keys and digital certificates, at a $1.15bn valuation.
"We are thrilled to be partnering with Venafi as they continue to lead the machine identity management market and expand their dynamic global customer base. Venafi created the rapidly growing machine identity management category they continue to lead, and we have watched the company's growth accelerate as customers recognize the magnitude and complexity of their machine identity management needs. We look forward to leveraging Thoma Bravo's operational capabilities and deep understanding of the cybersecurity market to help drive Venafi's continued growth and market position," Seth Boro, Thoma Bravo Managing Partner.
Venafi is advised by JP Morgan. Thoma Bravo is advised by Kirkland & Ellis and Finsbury Glover Hering.
Oroco Capital, a private equity firm based in Bethesda, Maryland, agreed to acquire the civil construction business of AECOM, an infrastructure consulting firm. Financial terms were not disclosed.
"Today's announcement of the sale of our Civil construction business, together with the sale of our Power construction business in October, represents a significant milestone in advancing our strategy and focusing our efforts on our higher-margin and lower-risk Professional Services businesses. Our outlook is bright as we bring together our company under our Think and Act Globally strategy, which includes transforming how we operate through the digital delivery of our work and focusing on growing our Professional Services businesses. I thank the Civil construction team on behalf of our company for their efforts over the years and wish the business the best of success under the stewardship of Oroco Capital," Troy Rudd, AECOM CEO.
AECOM is advised by DBO Partners and Wachtell Lipton Rosen & Katz.
Stratasys, an American-Israeli manufacturer of 3D printers and 3D production systems, agreed to acquire Origin, a 3D printing start-up, for $100m.
"Our customers are looking for additive manufacturing solutions that enable use of industrial-grade resins for mass production parts with process and quality control. We believe Origin's software-driven Origin One system is the best in the industry by combining high throughput with incredible accuracy. When combined with Origin's extensive materials ecosystem and our industry-leading go-to-market capabilities, we believe we will be able to capture a wide range of in-demand production applications on a global scale. Together with our intended entry into powder bed fusion technology, the acquisition of Origin reflects another step in fulfilling our objective to lead in polymer additive manufacturing by offering comprehensive, best-in-class technologies and solutions to create a fully digital additive value chain, designed for Industry 4.0 integration," Yoav Zeif, Stratasys CEO.
Index Ventures, Sequoia, Insight Partners and Cyberstarts led a $100m Series A round in Wiz, a cloud security innovator.
"The Wiz founding team is among the most customer-obsessed groups of founders I've worked with and it shows in the product they've brought to market. 2020 has accelerated cloud adoption, and security teams have to coordinate with the rest of the business in a new digitally transformed reality. Wiz is the solution that these organizations need to not only secure the investments they've made, but to get security teams out in front where they can enable engineering and lines of business to innovate even faster," Shardul Shah, Index Ventures Partner.
Funimation Global Group, a subsidiary of Sony, and an American entertainment company that specializes in the dubbing and distribution of East Asian media, agreed to acquire Crunchyroll, an American distributor, publisher, production and licensing company focused on streaming anime, from AT&T, a telecommunications company, for $1.18bn. The transaction is subject to customary closing conditions, including regulatory approvals.
"We are proud to bring Crunchyroll into the Sony family. Through Funimation and our terrific partners at Aniplex and Sony Music Entertainment Japan, we have a deep understanding of this global artform and are well-positioned to deliver outstanding content to audiences around the world. Together with Crunchyroll, we will create the best possible experience for fans and greater opportunity for creators, producers and publishers in Japan and elsewhere," Tony Vinciquerra, Sony Pictures Entertainment Chairman and CEO.
United Real Estate, a real estate brokerage firm, agreed to merge with Benchmark Realty, the largest independent real estate brokerage in the Middle Tennessee region. Financial terms were not disclosed.
"We have spent the better part of ten years positioning United Real Estate for this kind of growth. Phillip Cantrell and Benchmark's leadership operate one of the best brokerages in the US. While Benchmark's size and market share were appealing, we were also attracted to the alignment of our cultures and how Benchmark demonstrates their commitment to extraordinary agent and client outcomes," Dan Duffy, United Real Estate CEO.
Instructure, an educational technology company, agreed to acquire Certica Solutions, a K12 assessment and analytics company. Financial terms were not disclosed. The acquisition is expected to close before the end of 2020.
"Welcoming Certica into the Instructure family will support educators by combining our assessment platform with smarter, standards-based assessments, assessment item banks, and powerful analytics empowering educators to make learning personal for each student," Steve Daly, Instructure CEO.
Canossa Events, the premium motoring events business of Motorsport Network, completed the acquisition of Cavallino, a US-based concours event and media company. Financial terms were not disclosed.
"I have dedicated a lifetime to building the Cavallino community with a passion for all things Ferrari and it is a business with an impeccable reputation. I received several offers for the business, but I wanted it to be part of an ecosystem that serves the Ferrari community and where it can thrive. In Luigi, the Canossa team and the wider Motorsport Network group, I have found the ultimate platform run by people who share my passion and vision," John Barnes, Cavallino President.
BASF explores $400m sale of chemical assets.
BASF, a chemical producer, is exploring the sale of US chemical assets to streamline the company's portfolio, Bloomberg reported. The deal value could reach $400m.
BASF reportedly considers the sale of a surfactants plant in Kankakee, Illinois, that could be valued at about $250m. It is also working with an advisor to explore options for a kaolin business in the southern US state of Georgia, potentially selling for $150m.
Airbnb prices its $3.5bn IPO.
Airbnb, a vacation rental company, priced its IPO above the marketed price range to gather c. $3.5bn as a result of investors' demand increse since a market drop.
Airbnb shares were sold for $68 each, surpassing the marketed range of $56-$60 apiece. The company's post-IPO valuation increased to $47bn, including employee stock options and restricted stock units.
EnTrust Global completes $2.1bn fundraise. (FS)
EnTrust Global, an alternative asset management firm, completed fundraising for its EnTrust Global Blue Ocean Funds for investments in the global maritime industry. The fund closed at $2.1bn after raising $925m since April of 2020.
"We continue to see strong demand for our debt capital solutions from clients around the world, and we have continued to deploy capital efficiently to our select customer base while also successfully maintaining the quality of our existing portfolio throughout a very tough time period as a consequence of Covid-19," Svein Engh, EnTrust Senior Managing Director and Portfolio Manager.
Endless, a UK-based private equity investor, agreed to acquire Amscan International, the holding for international wholesale, retail and e-commerce businesses of Party City, an American publicly traded retail chain of party stores, for $59m.
"We believe this transaction represents another positive step in our transformation strategy. The sale of these assets enables us to focus on our core North American retail and wholesale operations, where we see the greatest opportunities for profitable growth, while maintaining the benefits of our vertically integrated structure. We are excited about the progress we are making to reinforce our position as the leading party platform in North America," Brad Weston, Party City CEO.
Party City is advised by Kurzman Eisenberg Corbin & Lever, Osborne Clark, Joele Frank and ICR. Endless is advised by GCA Altium, Squire Patton Boggs and Deloitte.
Gilead Sciences, a research-based biopharmaceutical company, agreed to acquire MYR, a German biotechnology company, for c. $1.8bn.
"We are proud of our achievement in bringing Hepcludex from preclinical stage to patients in need within such a short timeframe. We are excited to join Gilead, whose experience in the hepatitis field and global infrastructure will realize the full potential of Hepcludex and provide access to as many patients as possible around the world with this debilitating disease," Dmitry Popov, MYR Chief Executive Officer.
MYR is advised by UBS and Freshfields Bruckhaus Deringer. Gilead Sciences is advised by Goldman Sachs, Flick Gocke Schaumburg, Gibson Dunn & Crutcher and Mayer Brown.
EQT Partners agreed to acquire Molslinjen, Denmark's largest passenger ferry company, from a group of shareholders led by Polaris, a Nordic private equity firm. Financial terms were not disclosed.
"We have followed Molslinjen closely for years and are tremendously impressed with its transformation into an indispensable element of the Danish transport infrastructure, under the leadership of Carsten Jensen and his management team. The next development phase of Molslinjen will be defined by the company's ambitious sustainability agenda and continued investments in electrification and renewable fuel sources. In parallel, we also believe that there is scope to further build on Molslinjen's successful inorganic growth strategy. Taken together, these investments will further future-proof the company, and we look forward to embarking on this journey together with Carsten and the management team," Daniel Pérez, EQT Partner.
EQT is advised by McKinsey & Company, DC Advisory, Danske Bank, Ernst & Young, Accura Advokatpartnerselskab and Arup.
SK Capital Partners, a private investment firm, agreed to acquire Ipackchem, a producer and distributor of plastic packaging products, from Sagard, a French private investment firm. Financial terms were not disclosed.
"With its global reach, specialty chemicals expertise, strong connectivity to our customer base and strong M&A capabilities, SK Capital is the perfect partner for Ipackchem as we embark on our next chapter," Jean-Philippe Morvan, Ipackchem CEO.
SK Capital Partners is advised by Rothschild & Co, Kirkland & Ellis and BackBay Communications.
Electrocomponents, a British-based distributor of industrial and electronics products, agreed to acquire Synovos, a provider of integrated supply solutions in the Americas, and Needlers, a UK provider of safety products and PPE, for £150m ($201m).
"Both Synovos and Needlers are very good businesses, aligned to our strategy of selectively adding high-quality, value-creating bolt-on acquisitions to the Group. Synovos enables us to expand our value-added solutions offer in the Americas, significantly enhancing our proposition for corporate customers. It is an excellent fit with our existing IESA business and will increase our ability to support clients in managing their procurement, inventory and maintenance needs globally. Needlers is a very high-quality business that we have been following for a long time and significantly enhances our safety, hygiene and PPE offering which is a critical capability in today's world," Lindsley Ruth, Electrocomponents CEO.
Electrocomponents is advised by UBS and Numis Securities. Synovos is advised by Houlihan Lokey.
US private equity group Blackstone and B&J Holdings, a 41.3% shareholder in Applegreen representing the holdings of Applegreen's founders, are set to acquire the remaining shares in Applegreen, an Irish company that operates a number of petrol stations in Ireland, the UK and the US, for €407m ($493m).
The move to take Applegreen private comes as the business grapples with Covid-19, Brexit, and an accelerating shift by motorists towards electric vehicles. The board of Applegreen believes the offer, if effected, would represent a compelling opportunity for shareholders to realize their investment at an attractive premium to the prevailing share price.
Applegreen is advised by Goodbody and Shore Capital & Corporate.
GlobalWafers, a silicon wafer manufacturing company, agreed to acquire Siltronic, a supplier of silicon wafers, for $4.5bn. Closing of the transaction is subject to customary closing conditions, and is expected to complete in the second half of 2021.
"This combination shows how attractive the Siltronic team and its leading-edge solutions are in this market. GlobalWafers has made important commitments for a successful future of Siltronic within the GlobalWafers Group. In particular, the guarantees made to the sites and the workforce were very important to us, but also maintaining the strong Siltronic brand under the GlobalWafers umbrella," Christoph von Plotho, Siltronic CEO.
Boehringer Ingelheim, a research-driven pharmaceutical company, agreed to acquire NBE Therapeutics, a clinical-stage Swiss biotechnology company, from PPF Group, a private equity firm, for €1.18bn ($1.43bn). The closing of the transaction is subject to customary closing conditions and is expected during the course of Q1 2021.
“I am extremely proud of the NBE-Therapeutics’ team and delighted that our world class ADC expertise is being recognized by Boehringer Ingelheim. This transaction is a validation of our platform and its potential for the next generation cancer therapies. We look forward to progressing NBE-002, our lead program and best-in-class anti ROR1 ADC, and to continuing the fight against cancer alongside Boehringer Ingelheim with its strong clinical development capabilities,” Bertrand Damour, NBE Therapeutics, Chief Executive Officer.
NBE Therapeutics is advised by Optimum Strategic Communications.
Investment fund Energy Infrastructure Partners agreed to acquire a 49% stake in BayWa r.e., a global renewables platform, from BayWa, a German company which operates in the agriculture, building materials and energy sectors, for $642m.
"Our excellent relationship with BayWa as the majority partner, the impressive performance of BayWa r.e. 's management team and our proven record in large-scale renewable investments will allow us to jointly build out and develop this platform in the years to come. The strategic progression will enable institutional investors to profit from stable cash flows while accessing a renewable power generation portfolio of significant size," Roland Dörig, EIP Managing Partner.
EIP is advised by Skadden Arps Slate Meagher & Flom.
Private equity firm Charterhouse Capital Partners agreed to acquire a minority stake in Lane Clark & Peacock, a professional advisory firm specializing in pensions, investment consulting and insurance, from Inflexion, a capital market company, for £300m ($401m).
"Our new partnership with Charterhouse comes at an ideal time to help continue our growth as a business. Charterhouse's established reputation for investing in people businesses and backing ambitious management teams, together with the Partners increasing our own financial commitment to the firm, is excellent news for our clients and people. These transactions consolidate LCP's position as the leading independent, owner-managed pensions, investment and insurance consultancy in the UK and Ireland, whilst also supporting our diversification strategy in areas such as health, energy, financial wellbeing and data analytics," Aaron Punwani, LCP CEO.
Charterhouse Capital Partners is advised by Greenbrook.
Global Graphics, a developer of integrated hardware and software solutions, agreed to acquire HYBRID Software Group, a group of software development and marketing companies, from Congra Software, a holding company which, through its subsidiaries, develops and sells enterprise software for the graphics arts industry, for $97m.
"Combining Global Graphics and HYBRID Software will create the foremost enterprise software supplier for digital printing, as well as for traditional label and packaging market segments and I'm proud to announce it to the industry. The DNA of both companies is similar – customer-focused innovation in graphic arts and industrial inkjet – and there's a strong existing relationship and a great fit between HYBRID Software and the Global Graphics companies: Global Graphics Software, Meteor Inkjet, and Xitron," Guido Van der Schueren, Global Graphics Chairman.
Spanish private equity firm Portobello Capital completed the acquisition of Poligof, an Italian manufacturer of backsheet film, from investment firm 21 Invest. Financial terms were not disclosed.
"This operation confirms 21 Invest's attitude in caring for the long-term industrial growth of investee companies, reacting proactively even in the midst of a pandemic. Poligof is today an industrial group that will continue to grow and establish itself in new international markets," Alessandro Benetton, 21 Invest Founder.
Summit Partners, a global growth equity firm, agreed to invest €50m ($61m) in Solactive, a German provider of financial indices based in Frankfurt.
"We are proud to be one of the fastest-growing index providers in the world and widely regarded as a disruptor in the global index market. We are excited to join forces with Summit Partners and work together to further accelerate our journey. Summit brings significant experience in the technology and financial services sectors, as well as deep resources in supporting the expansion of our businesses across products, regions and client segments," Steffen Scheuble, Solactive Founder and CEO.
McLaren looks for £500m in SPAC listing.
McLaren, a UK-based supercar manufacturer, is in discussions to raise £500m ($670m) in newly-issued equity in an attempt to potentially go public through a SPAC deal.
McLaren wants to refinance ist business within the following 12 months, as the pandemic damaged the manufacturing company. The other option is to sell a minority stake in its racing division and explore possibilities for the applied division that sells racing and car technology.
AMS puts Osram Digital Systems for sale.
Austrian sensor maker AMS is putting German lighting group Osram's Digital Systems unit up for sale as it takes full control of the company, Reuters reported.
Lonza lists Lanxess, private equity firms, as potential suitors. (FS)
Lonza, a Swiss contract drug maker, shortlisted German chemicals group Lanxess and private equity groups to sell its Lonza Specialty Ingredients unit, Reuters reported. The deal could value the unit at $3.4bn.
Buyout groups Advent, Carlyle, Partners and a consortium comprising Bain and Cinven were among those advancing to the next round of bidding, which will be followed by one final one round. Lone Star private equity and SK Innovation have been mentioned as possible bidders.
Quilter weighs sale of international operations. (FS)
Quilter, the British wealth manager, considers the sale of international operations to streamline its business, Bloomberg reported. The company is reportedly working with an advisor to gauge interest in the unit.
As of the end of September, the business had $27.4bn of assets. The company has been divesting peripheral operations, agreeing last year to sell a portfolio of heritage life insurance and pension policies to focus on wealth management in the UK.
Advent in talks to acquire unit of Arkema. (FS)
Advent is in talks to acquire the plexiglass business of French chemicals company Arkema, Bloomberg reported. Other potential suitors could consider buying the asset if talks with Advent fall apart.
The investment firm is already negotiating final terms of a potential purchase of Arkema's Altuglas International division. The deal value of the transaction could reach $1.2bn.
Banco BPM, BPER consider merger in 2021.
Italian banks Banco BPM and BPER are considering a possible merger deal in the first half of 2021, Reuters reported. Banco BPM reportedly turned its attention to BPER after preliminary discussions with UniCredit, an Italian global banking and financial services company, led nowhere, while politics later derailed talks with another bank Credit Agricole Italy.
BPER may aspire to a "merger of equals" in an all-share deal despite its smaller size. Banco BPM's Italian shareholders viewed the tie-up favorably.
Exor, an investment holding company, agreed to acquire a majority stake in Shang Xia, a Chinese luxury fashion brand, from Hermes, a French high fashion luxury goods manufacturer, for $97m.
"Within just a decade, Shang Xia has managed to position itself as one of the first Chinese brands on the international luxury stage. This has been achieved thanks to the consistent commitment of Hermes all along. As founder of Shang Xia, Exor joining our initial duo is a thrill as it will enable Shang Xia to pursue our dreams and ambition with more power than ever," Jiang Qiong Er, Shang Xia Founder.
RTW Investments, an investment firm, led a $181m Series D funding round in Nuance Pharma, a biopharmaceutical company. The round was also joined by GT Fund, CBC Group, Matrix Partners China, HBM Healthcare Investments and Konruns Pharmaceutical.
"This is an important milestone for Nuance Pharma, which reinforces our deep industry expertise and strategic business model. We are well-positioned to advance the clinical development of our robust therapeutics pipeline, and we look forward to bringing in more assets to China and building a leading presence in these key therapeutic areas," Mark Lotter, Nuance Founder and CEO.
GIC led a $100m Series C funding round in Huice, a software-as-a-service developer. The round was also joined by GL Ventures, SoftBank Ventures Asia and Legend Capital.
With the fresh funding, Huice aims to facilitate its pipeline of software products, besides investing in talent recruitment and service support.
Fancl Asia picks Blackstone and Carlyle for next round bids. (FS)
Fancl Asia, a Japanese skincare brand, selected buyout firms Blackstone Group and Carlyle to participate in the next round of bidding for its business outside home country, Bloomberg reported.
CMC Holdings, an investment firm which is selling the business, has also invited Bain Capital and Citic Capital, an alternative investment management company, to proceed to the second phase of bidding. Some of the suitors could consider teaming up with technology companies for joint offers.
Xpeng raises $2.2bn in share offering.
Xpeng, a Chinese electric-vehicle maker, raised $2.2bn in an upsized share sale as investors appetite for stocks increases. The company sold 48m American depositary shares at $45 apiece, a 7.6% discount to the previous day's close.
Previously, Xpeng was marketing to sell 40m ADS. Xpeng could raise additional c. $300m if it exercises an over-allotment option to sell an additional 7.2m shares.
Integral closes Integral Fund IV at hard cap. (FS)
Integral Group, a Tokyo-based private equity company, announced it closed its Integral Fund IV after substantial oversubscription. The fund closed at a hard cap of $1.2bn.
Integral Fund IV will mainly look for buy-out opportunities in the Japanese mid-market. It received commitments from new and existing investors, including domestic and international banks, insurance companies and pension funds.
Integral Group was advised by Kirkland & Ellis.
CLSA raises $226m for private debt fund. (FS)
CLSA Capital Partners, the alternative asset management firm, raised $226m for its Lending Ark Asia Secured Private Debt Fund. The fund will invest in high-quality and secured private debt opportunities across the Asia-Pacific region, consisting of privately-negotiated, three-to-five-year maturity secured private debt financing, senior/mezzanine tranches of asset-backed securities, and bank-collateralized loan obligations.
Lending Ark Asia seeks to capture opportunities that arise from the imbalance between the growing demand for credit from issuers serving the rising Asian middle-class and the shrinking supply of credit available from banks due to capital constraints.
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