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Aug. 29, 2022: Ampersand Recapitalizes Drug Developer

Plus, Tiger Infrastructure’s 11:11 announces acquisition, and White Wolf finances Montera’s property restoration merger

Aug. 29, 2022: Ampersand Recapitalizes Drug Developer

Read the top headlines from Monday, August 29, 2022 below:

Tiger Infrastructure’s 11:11 Systems Announces Acquisition

11:11 Systems, a managed infrastructure solutions provider backed by middle-market private equity firm Tiger Infrastructure Partners, announced its acquisition of Sungard Availability Services’ Cloud Managed Services operations in a recent press release. The businesses said they expect to close the deal this fall. The acquisition will see 11:11 enhance its cloud management, AWS and Azure professional services expertise and talent. In a statement, 11:11 CEO Brett Diamond said the acquisition is “a natural fit to enhance and strengthen our existing data center footprint, technology stack and services.”

Sungard marks the latest in a string of acquisitions for 11:11. Last May the company announced its acquisition of Unitas Global, which followed its takeovers of iland and Green Cloud Defense.

Ampersand Recapitalizes Drug Developer Phosphorex

Private equity firm Ampersand Capital Partners, which targets the healthcare industry, is recapitalizing Phosphorex, a biotechnology and pharmacology developer. Phosphorex develops and manufactures nanomedicines and other technologies, and provides formulation development for pharmaceutical and biotechnology businesses. New backing from Ampersand will be used to build out the company’s facility and enhance manufacturing capabilities with the addition of packaging, process development, and analytical testing services. Ampersand partner Trevor Wahlbrink pointed to “the significant and growing interest in therapeutics leveraging nanoparticle technologies” as a key motivation behind the investment.

Related content: The Top 3 Trends Shaping Life Sciences M&A

White Wolf Finances Montera’s Property Restoration and Mitigation Merger

White Wolf Capital Group’s Private Credit Management unit announced it provided the funding for Montera Investment Group to acquire and merge two property restoration and mitigation businesses to form the newly-combined NMR. The result of the merger between Advanced and ProFire, the Florida-based business serves both residential and commercial customers with their services that include water and mold mitigation as well as property restoration. Financial terms of the investment were not disclosed, but White Wolf noted in its announcement that the financing included a secured term loan a preferred equity investment, and common equity co-investment.