In a recent business update following the announcement on February 29, 2024, Supply@ME Capital plc (SYME), a pioneering fintech company, has reported significant progress in its Inventory Monetisation© (IM) solutions. These solutions are designed to enhance cash flow for manufacturing and trading companies through a cutting-edge fintech platform. White-label IM Business Line Progressing SYME, in…
Agronomics invests US$ 10 million in Liberation Labs
LONDON, UK: Agronomics (LSE: ANIC) has invested US$ 10 million in its portfolio company Liberation Labs Holding Inc. as part of a wider US$ 12.5 million financing round with participation from existing investor Siddhi Capital. The investment was made in the form of a Secured Convertible Promissory Note (SCPN), a form of convertible debt, for…
ICON Aircraft files Chapter 11; aims for business sale
ICON Aircraft, the creator of the innovative ICON A5 amphibious sport plane, has declared the initiation of a strategic restructuring by filing for Chapter 11 bankruptcy protection. The company has revealed its intention to sell its business pursuant to Section 363 of the Bankruptcy Code, while also committing to maintain customer support and ongoing operations…
Nathan Morris becomes Chief Operating Officer at ALKEME
ALKEME, recognized among the top 40 insurance brokerages nationwide, has elevated its Chief Revenue Officer, Nathan Morris, to the role of Chief Operating Officer (COO), effective immediately. Morris, who has been instrumental in driving the company’s revenue growth and fostering partner and carrier relationships, will now oversee ALKEME’s national business operations. As COO, Morris is…
OmniSource has acquired Toledo Shredding, a subsidiary of ProTrade Group
Brown Gibbons Lang & Company (BGL) announced the sale of Toledo Shredding LLC, a subsidiary of ProTrade Group, which is a fully integrated scrap metal company specializing in ferrous and nonferrous metals. Toledo Shredding’s assets were sold to OmniSource, LLC. BGL’s Metals & Advanced Metals Manufacturing investment banking team served as the exclusive financial advisor…
BradyPLUS has acquired EcoIndustrial in Northeastern Pennsylvania
LAS VEGAS: BradyPLUS, a leading distributor of janitorial / sanitation (JanSan), foodservice disposables and industrial packaging products, has acquired The EcoIndustrial Family of Companies, distributors serving the greater Northeastern Pennsylvania marketplaces. Terms of the transaction were not disclosed. EcoIndustrial offers a wide array of industrial packaging, foodservice disposables, JanSan and safety products. Led by Sean…
Massimo Group marks its Nasdaq debut with a successful IPO
TEXAS: Massimo Group (NASDAQ: MAMO), a renowned manufacturer and distributor, has officially closed its initial public offering (IPO). The company offered 1.3 million shares to the public at $4.50 each, culminating in gross proceeds of approximately $5.85 million before expenses. Massimo’s shares made their market debut on the Nasdaq Capital Market on April 2, 2024,…
AM Best maintains ratings for Suez Canal Insurance amidst economic challenges in Egypt
LONDON: AM Best has reaffirmed the Financial Strength Rating of B- (Fair) and the Long-Term Issuer Credit Rating of “bb-” (Fair) for Suez Canal Insurance (SCI), with an Egypt National Scale Rating (NSR) of aa.EG (Superior). Despite the negative outlook due to the volatile economic and political climate in Egypt, SCI’s strong balance sheet and…
Clariane explores sale of Home Hospitalisation and Nursing Services Division in France
PARIS: Clariane, a leader in European healthcare, has announced the exploration of disposal options for its French Home Hospitalisation (HAD) and Nursing Home Services (SSIAD) business. The decision aligns with the company’s refinancing plan revealed last November. The division, comprising 8 HAD homes and 3 SSIAD agencies, employs 309 individuals and generated €46 million in…
Experian signs deal to acquire illion for A$820 million
LONDON, UK: Experian, the global information services company, has signed an agreement to acquire illion, one of the leading consumer and commercial credit bureaus in Australia and New Zealand. The acquisition of 100% of illion is for a total consideration of up to A$820m (c.US$532m), payable on completion of the transaction and to be funded…
Conquest acquires 182MW Finnish wind farms
Conquest, through its Conquest Infrastructure SLP – Sustainable 2 fund, has acquired a 182MW onshore wind portfolio in Finland from BHM Renewables. Developed by Winda Energy, this acquisition marks Conquest’s entry into the Finnish market and establishes a broader partnership aimed at future expansions. The deal includes two wind farms with a combined capacity of…
Ivo raises $4.8 million in funding
SAN FRANCISCO: Ivo (formerly known as Latch), a company specializing in generative AI-powered contract review solutions, has announced a successful funding round of $4.8 million. This investment is aimed at enhancing the capabilities of legal teams, improving their efficiency and accuracy, and accelerating the delivery of business value. The rebranding to Ivo, inspired by the…