Ampersand Capital Partners has announced it has sold portfolio company Adaptas Solutions to IMI.
Adaptas, based in Palmer, Mass., provides components for complex laboratory instruments in the life sciences, diagnostics and lab automation markets.
IMI, formerly Imperial Metal Industries, is a British-based engineering company that designs, manufactures and services engineered products that control…
Sentinel Capital Partners has acquired TTG Imaging Solutions, according to a news release.
TTG, based in Pittsburgh, Pa., provides a range of products and services to cardiology, oncology and other types of providers. Founded in 2004, the company has grown significantly in recent years, completing nine transactions since March 2019.
The Jordan Company has announced it has closed The Resolute Fund V with approximately $5 billion in commitments.
The fund was oversubscribed and hit its hard cap.
The Jordan Company, founded in 1982 and headquartered in New York, is a middle market private equity firm that invests in a wide range of industries in North America,
On the heels of a related action filed by the Securities and Exchange Commission (“SEC”) on November 12, 2021, Eckfeldt v. Barber was filed in the Superior Court of California, Orange County, on December 9, 2021, claiming breach of contract, fraud, intentional misrepresentation, and conversion.
In a recent opinion, the U.S. Court of Appeals for the Third Circuit weighed in on what standard to apply in reviewing government motions to dismiss False Claims Act (FCA) actions. As discussed in detail in a July 2021 Law360 article titled “Tide Is Turning Against FCA Case Dismissals,” a three-way circuit split has developed regarding the standard governing a government motion to dismiss a whistleblower’s non-intervened qui tam case, but the varying approaches in the courts may be less important to the viability of government dismissals than the actions of the executive and legislative branches.[1]
Finback Investment Partners has invested in Equality Health, according to a news release.
Equality, based in Phoenix and founded in 2015, is a population health risk management company and provider of value-based physician networks focused on improving care delivery for underserved populations.
Finback, based in Coral Gables, Fla., is a private equity…
Two related cases, Bradley D. Sharp v. Shinhan Bank Co., Ltd. (the “Shinhan Action”) and Sharp v. Daishin Securities Co., Ltd. (the “Daishin Action”), were filed in the United States District Court for the Central District of California on November 23, 2021 by the receivers for various businesses under the Direct Lending Investments, LLC umbrella of companies (“Direct Lending”). Both actions allege that certain redemptions paid out to investors in a fraudulent investment scheme constitute constructive and actual fraudulent transfers under California’s Uniform Voidable Transactions Act, regardless of the investors’ knowledge of the underlying fraud.
Plaintiffs in both actions are receivers (the “Receivers”) appointed in the underlying SEC enforcement action against an investment manager entity that was used to carry out a fraudulent investment scheme (the “Receivership Entity”). Defendants in the Shinhan Action are investment funds (the “Defendant Funds”) that invested in the scheme, trustees (the “Defendant Trustees”) that entered into subscription agreements with the Receivership Entity on the Defendant Fund’s behalf, and fund managers (the “Defendant Managers,”) that sold the funds to investors. Defendant in the Daishin Action is a South Korean investment company that invested in the scheme.
Avesi Partners has announced it has invested in Danforth Advisors.
Danforth, based in Waltham, Mass., is a provider of strategic and operational finance and accounting for life science companies. The company states that it has served more than 750 private and public life science companies across the sectors of drug discovery and development, medical…
Nautic Partners has announced it received a strategic investment from Blackstone GP Stakes.
Nautic, based in Providence, R.I., is a middle market private equity firm focused on investments in healthcare and a few other sectors. The firm prefers to make $50 million to $400 million-plus equity commitments in a variety of growth, consolidation and…
On Nov. 23, 2021, the New York Court of Appeals sided with the policyholder, resolving a decades-long insurance coverage dispute, J.P. Morgan Sec. Inc. v. Vigilant Ins. Co., __ N.E.3d __, 2021 N.Y. Slip Op. 06528, 2021 WL 5492781 (Nov. 23, 2021). It held that a $140 million disgorgement payment to the Securities and…
