We open today with a deep dive into BlackRock Alternatives’ and Nextech’s investment in ITM Isotope Technologies, a manufacturer of targeted diagnostic and therapeutic radiopharmaceuticals and radioisotopes for cancer treatment.
Next, we have Investcorp snapping up a majority stake in SEC Newgate, a strategic communications and advocacy group, followed by Carlyle agreeing to acquire a majority stake in Anthesis, a sustainability advisory business.
We’ll finish up with a wealth management deal, as IK Partners takes majority stake in Cinerius Financial Partners.
Radioisotopes
Kicking off with a deeper look at a radiopharmaceuticals deal, as Craig McGlashan speaks to Nathalie von Niederhäusern, head of EMEA at BlackRock Private Equity Partners and Kanishka Pothula, a partner at Nextech.
BlackRock Alternatives and Nextech were part of an equity investment round of €255 million in ITM Isotope Technologies in early June, led by Temasek and also involving Qatar Investment Authority, ATHOS and Carbyne.
Munich-headquartered ITM manufactures targeted diagnostic and therapeutic radiopharmaceuticals and radioisotopes for cancer treatment.
Demand for the treatment comes from “the promising results it has shown as a complementary alternative to existing oncology diagnostics and therapeutics”, von Niederhäusern told Craig.
But the investment in ITM in particular was in part down to chemistry.
“We believe that vertical integration is a strategic imperative due to the short half-life of radioisotopes, and the complexity of manufacturing radioisotopes makes it the industry’s bottleneck,” said von Niederhäusern. “ITM has been able to position itself at the centre of the ecosystem by being the industry’s preferred supplier.
I highly recommend reading the full story to find out more about the specific radioactive agent ITM supplies and how the investment will be used to grow ITM’s capabilities. You can find it here.
For more pharma reading, take a look at my interview with Partners Group’s managing director Pascal Noth and member of management Jean Ghabache, about the firm’s recent investment in Sterling Pharma Solutions.
Communications
Moving away from pharma to comms. Investcorp signed a definitive agreement to invest approximately $100 million for a majority stake in global strategic communications and advocacy group SEC Newgate.
The transaction values SEC Newgate in excess of $250 million. The company’s other shareholders will roll over approximately 100 percent of their equity investment as part of the transaction, according to a press release.
Milan-based SEC Newgate is an insights and research-driven global communications and advocacy group. The company operates through 50 offices located in 22 countries around the world and advises more than 1,500 companies.
“SEC Newgate aligns with our investment approach to back strong, committed management teams operating differentiated businesses in growing sectors,” said Jose Pfeifer, head of Investcorp’s European private equity group. “We will use our resources to support SEC Newgate’s geographic expansion, growth through acquisitions and greenfield developments.”
Investcorp is not alone in its interest in communications companies. In April, KKR announced a growth investment in FGS Global, a global strategic advisory and communications consultancy.
Sustainability
Carlyle has agreed to acquire a majority stake in Anthesis, a pure-play sustainability advisory business. Existing investor Palatine Private Equity will reinvest for a minority stake, alongside Anthesis’ employee shareholders.
The enterprise value was for about £400 million ($508 million; €465 million), according to sources close to the deal. Carlyle and Palatine declined to comment on the size.
Palatine made an ROI of 6x with the sale. The Manchester-headquartered UK mid-market private equity firm first made a minority investment in Anthesis in March 2021 from its first impact fund and fourth buyout fund. The reinvestment is from its second impact fund, but the same buyout fund.
Carlyle’s investment, via its Carlyle Europe Partners platform, is aimed to help Anthesis expand internationally, grow its service offering and perform M&A. Anthesis made five acquisitions during Palatine’s first investment, including Wallbrook, a global ESG advisory company focused on anti-corruption, investigations, and human rights, earlier this month.
Wealth management
Let’s finish up with a bit of wealth management. IK Partners, via IK IX Fund, has made a majority investment in Cinerius Financial Partners, an independent wealth management platform.
Headquartered in Zug in Switzerland, Cinerius collectively manages assets of more than SFr10 billion (€10.23 billion; $11.13 billion).
Summit Partners, Cinerius’ existing partner, and Cinerius management team will reinvest significantly as part of the transaction. Summit Partners first invested in Cinerius in 2021.
“With a comprehensive range of services, Cinerius has exciting growth potential, which we aim to unlock during our partnership in the coming years,” said Mirko Jablonsky, partner at IK Partners and advisor to the IK IX Fund.
IK will support Cinerius’ plans to solidify its market position by pursuing organic growth initiatives, investing in its people and technology, and growing its group of partner businesses via a dedicated M&A strategy, according to a release.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: 
