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QuotedData’s morning briefing 5 September 2023 – CLDN, BOOK, RTW, HGT

a cup of coffee sits on a wooden board

In QuotedData’s morning briefing for 5 September:

  • Caledonia Investments (CLDN) announced that it has agreed terms for the sale of its majority stake in Seven Investment Management , a vertically integrated retail wealth management business, to Ontario Teachers’ Pension Plan Board, a global investor with approximately C$250 billion in net assets. Caledonia is expected to receive cash proceeds of c.£255m, net of transaction expenses. In its audited accounts as at 31 March 2023, the shareholding was valued at £187.1m excluding a further £13.2m which will be invested into the business.
  • Literacy Capital (BOOK) announced the sale of its entire interest in Butternut Box, a business providing healthy, fresh dog food on a subscription to dog owners’ homes, receiving £21.8m in cash, a 53.8%premium to carrying value.
  • RTW Biotech Opportunities (RTW), is pleased to note the announcement by its portfolio company Beta Bionics, Inc. that it has secured $100 million in funding to advance diabetes technology and redefine diabetes management with its iLet Bionic Pancreas. Beta Bionics is a medical technology company focused on the design, development, and commercialisation of the iLet Bionic Pancreas, an autonomous insulin delivery system that streamlines diabetes management and reduces the burden on patients and physicians. The Series D funding is expected to help further develop and test the bionic pancreas as well as expand access.
  • HgCapital Trust plc (HGT), announced that it has agreed the sale of Commify, the UK-headquartered European leader in business messaging solutions, to ECI Partners. The terms of the transaction have not been disclosed and completion is subject to closing conditions. This transaction values HGT’s investment in Commify at approximately £21.9 million. This would represent an uplift of 32% over the carrying value of £16.6 million at 31 March 2023.


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