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Private Equity News
Peprofessional
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Grant Thornton: Profit Forecast Remains Steady Amid Shaky Economic Outlook
- According to a survey from Grant Thornton, CFOs still anticipate net profit growth despite a significant drop in confidence due to ongoing economic and political volatility.
- A total of 79% of CFOs anticipate growth in net profits over the next year, a 10-quarter high, while just over half (51%) are confident in their businesses' ability to meet demand goals, a 12-point drop from the firm's Q2 survey.
- Amongst the biggest uncertainties are meeting supply chain objectives and labour needs.
- The survey indicated a significant rise in IT and digital transformation spending, with 66% of CFOs planning to increase spending in this area marking a 15-quarter high.
- Generative AI for customer relationship management & development is popular.
- The survey also indicates senior finance leaders are increasing investments in sales and marketing at the highest rate with 56% expecting expenses to rise next year.
- 61% of respondents believe that the November U.S. election results may prompt changes in their business strategy with potential impact on the overall economy.
- 30% are accelerating investments in anticipation of the election, while 23% are delaying some investments until after the results are known.
- The survey demonstrates that regardless of changing political and economic conditions, CFOs remain optimistic and will continue to invest in areas they believe will create competitive advantage in the market.
- The Q3 2024 CFO survey by Grant Thornton engaged over 230 senior finance leaders.
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Funded
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Image Credit: Funded
Strategic Planning: Prepare Your Business for 2025
- Strategic planning is essential for preparing your business for 2025.
- Today’s rapidly evolving business environment makes strategic planning more crucial than ever as it helps define the business's vision, set measurable goals and create a roadmap to achieve them.
- analysing current market trends and anticipating future developments are crucial steps to mastering your strategic plan.
- To prepare for 2025, focus on areas such as Digital transformation, Sustainability, and Remote and hybrid work.
- Defining clear, measurable goals is essential while following SMART goals framework.
- Aligning the company's strategic vision with company culture helps to foster alignment and cooperation.
- Flexibility and agility in planning are the keys to thriving in uncertain situations.
- Improving technological infrastructure, investing in employee development and strengthening customer relationships are other crucial points of strategic planning.
- Finally, monitoring progress and adjusting accordingly is the most important aspect of the strategic planning process.
- By focusing on these key aspects of strategic planning, businesses can ensure resilience and growth in the years to come.
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Guardian
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Image Credit: Guardian
When private equity companies prioritise profit over care home residents | Letter
- The increasing outsourcing of care services is associated with lower standards of care, according to research.
- Many private providers of care homes for older people are owned by offshore private equity companies prioritizing profit over residents' well-being.
- These companies focus on economies of scale, low wages, minimum staffing, and cost-cutting.
- Residents often pay high fees, spend their savings, and sell their houses to fund their care in these larger care homes.
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Peprofessional
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Salt Creek Now “Welding in the Wild”
- Broco Rankin, a portfolio company of Salt Creek Capital, has acquired Ready Welder Corporation.
- Ready Welder specializes in portable welding products, including their flagship product ReadyWelder II.
- Ready Welder products are used in various industries such as automotive repair, field service, farming, oil and gas, and military field repairs.
- Salt Creek Capital invests in North American companies and aims to enhance Ready Welder's capabilities while aligning with their mission of providing high-performance tools.
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Peprofessional
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Cortec Gets New Partner
- New York-based private equity firm Cortec Group has announced the addition of Robert Schwartz to its investment team as a new partner.
- Schwartz joins Cortec from TZP Group, where he led various consumer and business-to-business companies.
- In his new role, Schwartz will focus on portfolio company acquisitions and post-closing company building and development activities.
- Cortec invests in US and Canadian companies with EBITDA of $10 million to $50 million, primarily in consumer, healthcare, and specialty services sectors.
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Funded
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Image Credit: Funded
Building Effective Collaborative Business Relationships
- Building effective collaborative business relationships involves mutual trust, aligned goals and clear communication. Define mutual goals and objectives to ensure that both parties are working toward a common purpose. Building trust doesn’t happen overnight; it’s earned through consistent, reliable actions over time. Clear and effective communication is another critical element in fostering strong business relationships. Collaboration can often be the breeding ground for innovation. In the fast-paced world of business, change is inevitable. Constructive feedback is essential for growth.
- Set clear roles and responsibilities, ambiguity in roles and responsibilities lead to inefficiency and conflict. Adaptability, being open to changes and willing to adjust plans or strategies is crucial. Long-term commitment and investment helps in working through potential difficulties and grow stronger over time. Regular feedback and performance review can identify what is working well and what needs improvement. Celebrating milestones and successes solidifies the partnership and creates a more collaborative spirit moving forward.
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Funded
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Image Credit: Funded
Vultron Funded $4.85M to Scale AI Workflow Solutions
- Vultron, a San Francisco-based company, has received $4.85 million in funding to expand its AI workflow solutions.
- Craft Ventures and Long Journey Ventures led the seed funding round, with participation from South Park Commons, Conviction Embed, and angel investors.
- Vultron integrates cutting-edge AI technology into business workflows, automating processes and enhancing decision-making.
- With the newly acquired funding, Vultron plans to strengthen its team, enhance its product offerings, and scale its operations globally.
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Peprofessional
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A Consistent Care Model: Bridging the Gap Between Private Equity and Healthcare
- The intersection of private equity (PE) and healthcare presents unique opportunities and challenges, but operational consistency can bridge the gap between the two.
- Incorporating a consistent care model helps in enhancing financial performance while ensuring individualized patient care.
- Studies have correlated consistent care models with reduced hospital readmission rates and improved management of chronic diseases.
- PE firms looking to expand existing healthcare platforms may face resistance from physician-owned businesses where standardization is not the norm.
- External operational experts are often called upon to help achieve consistent margins and EBITDA across different locations.
- Operational transformations or operating models focus on identifying and implementing best practices consistently to bridge the gap between financial and clinical expertise.
- Improving operational efficiency through standardization of routine tasks enables healthcare providers to redirect their focus towards individualized patient care.
- Standardization framework involves creating operational archetypes or consistency within distinct groups tailored to specific clinic clusters.
- Bridging the gap between private equity and healthcare through a consistent care model aligns financial objectives with patient care excellence and fosters operational efficiency.
- Adopting consistent care model across a healthcare portfolio enhances value creation and allows for scalability across various sectors by focusing on operational excellence.
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Peprofessional
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Shore Powers Up with New Capital
- Shore Capital Partners has closed its inaugural Healthcare Advantage Fund, second Business Services Partners Fund, and first Shore Search Partners Fund, exceeding their targets and representing over $1.9 billion in combined capital commitments.
- The funds received commitments from existing investors and select new limited partners, including university endowments, financial institutions, pension funds, insurance companies, funds of funds, and family offices.
- The Healthcare Advantage Fund focuses on healthcare companies with $5 million to $100 million of revenue and $1 million to $10 million of EBITDA, while the Business Services Fund invests in lower-middle-market companies with $5 million to $50 million of revenue and $1 million to $7 million of EBITDA.
- The Search Fund will support executives pursuing acquisition opportunities and provides access to Shore's networks and resources to help them find, execute, and operate microcap companies.
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Peprofessional
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POLARIS Laboratories Announces Strategic Investment from Riverspan Partners to Accelerate Innovation and Growth
- Riverspan Partners has acquired POLARIS Laboratories, a provider of test and measurement services.
- POLARIS Laboratories offers advanced laboratory testing and AI-enabled analysis services for various applications.
- The company's services assist companies in maintaining equipment and reducing downtime through predictive maintenance.
- The strategic partnership aims to drive innovation, develop new solutions, and expand into new markets.
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Peprofessional
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NewSpring Acquires Radar Systems Maker C Speed
- NewSpring Holdings has acquired C Speed, a provider of radar systems and engineering services for civilian and military applications.
- C Speed specializes in designing, prototyping, and manufacturing radar systems, including radar receivers, exciters, and signal processors.
- The acquisition of C Speed establishes the latest platform company within the NewSpring Holdings Federal Platform.
- NewSpring has appointed Andy Maner and Lt. Gen. Kevin McLaughlin to the C Speed Board of Directors.
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Funded
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Image Credit: Funded
These Are the Reasons You Are Struggling With Sales
- Converting sales is a difficult task for any business but for some, it’s much harder.
- Businesses need to adapt to new technology and software to succeed.
- Capping commissions can hinder overall revenue and productivity.
- Paying close attention to leads can increase the chances of closing a sale.
- Marketing departments need to deliver qualified leads to sales representatives.
- Knowing what your competitors are doing right can provide valuable insight.
- Investing in training programs and sales mentorship increases employee engagement.
- Developing a formal sales process leads to consistent results.
- Implementing these solutions can improve sales productivity.
- Funded.com offers access to angel investors, venture capital or lenders to help grow your business.
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Guardian
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Image Credit: Guardian
TGI Fridays secures rescue deal but more than 1,000 UK jobs lost
- TGI Fridays in the UK has secured a rescue deal with two private equity groups buying 51 restaurants.
- However, 35 outlets will close resulting in the loss of over 1,000 jobs.
- Unite, the trade union, criticized the closures and job losses, stating that staff were given no notice or redundancy consultation.
- The rescue deal aims to provide stability and support for TGI Fridays in the challenging casual dining sector.
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StartupDaily
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Australian startup investor Boman Group grabs a $10 million slice of OpenAI
- Australian fund manager Boman Group has invested AUD 10 million in OpenAI's record-breaking USD 6.6 billion fundraising round.
- Boman Group follows a 'Unicorn strategy' of investing in late-stage technology companies, having previously backed Airbnb, Databricks, and Klarna.
- Boman executive director Eva Zhuang led the investment, citing the decreasing cost and increasing productivity gains of AI as a key driver.
- OpenAI's valuation has nearly doubled since earlier this year, with its AI assistant ChatGPT gaining significant traction.
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Hitconsultant
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Image Credit: Hitconsultant
The Impact of Private Equity Consolidation in Healthcare
- Steward Health Care System LLC and its affiliated debtors each filed a petition for relief under Chapter 11 of the United States Bankruptcy Code in 2023.
- PE ownership, while contributing to capital investment and efficiency gains, could have negative impacts on patient lives, as alleged increases in bloodstream infections, falls, ER visits, and hospitalizations show a correlation with PE acquisitions in healthcare.
- The USA's DOJ’s Antitrust Division and the Department of Health and Human Services have officially launched an investigation into the impact of PE acquisitions in healthcare.
- PE consolidators need to be honest, competent, and transparent while taking care of superior patient care at more affordable prices.
- The government can and should act against anticompetitive or short-termist behavior by PE firms that harm the healthcare interests of patients and communities.
- Investors must emphasize innovation and long-term value in healthcare, scaling already-proven care delivery models, and tech-native solutions for fundamentally better operations.
- PE firms should focus on fundamental innovation gains that drive sustainable value for society at large and not just their LPs.
- Austin Walters, a Senior Partner at SpringTide Ventures, has been instrumental in driving value through operational efficiencies and strategic growth initiatives.
- Walters has a deep understanding of the complex dynamics within the healthcare industry, and he is a recognized expert in health tech and healthcare.
- Walters is passionate about mentoring emerging leaders and contributing to community health initiatives outside of his professional endeavors.
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