Charlesbank Capital Partners has launched Kleer-Membersy through the acquisition and merger of its namesake companies – both providers of technology-driven dental membership plans. The combined company will support an aggregate footprint of 20,000 dentists and millions of patients across all 50 states, covering everything from solo practices to the largest DSOs in the country. Charlesbank focuses on management-led buyouts, growth capital financings, opportunistic credit and technology investments.
Apis Partners has fully exited its position in South African merchant acquirer Adumo through an acquisition by South African fintech Lesaka Technologies. Payment solutions specialist Adumo was established in 2019 with investments from Apis’ growth fund and Crossfin Holdings, by merging Sureswipe, Ikhokha and Innervation. Adumo currently serves about 70,000 active clients and processes about ZAR80bn ($4.3bn) of transactions annually.
Turnspire Capital Partners has agreed to buy the nutraceuticals business of NYSE-listed Ashland. The unit provides nutrition ingredients and custom formulation services. Turnspire managing partner Ilya Koffman said, “We are thrilled to acquire this great platform with strong formulation and manufacturing capabilities, underpinned by its portfolio of proprietary ingredients, that position it as a supplier of choice to global multinationals and emerging brands alike.” Completion of the transaction is expected in calendar Q3 of 2024.
Monomoy Capital Partners has backed Southern Exteriors, a full-service installer of exterior building solutions tailored primarily for single-family homebuilders in the Southeastern US. The firm said Southern Exteriors was well positioned for growth “given the structural undersupply of housing nationwide and favorable migratory trends benefitting the Southeastern US”. Monomoy, which has about $3bn in assets under management, invests in the equity and debt of mid-market businesses.
