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BharCap unveils a payments processing deal, plus a radiology equipment deal roundup

Good morning dealmakers, thank goodness it’s Friday.

It’s Obey Martin Manayiti here with the Wire.

Greater demand for earlier diagnoses has increased reliance on radiology. PE firms are taking note. We are starting this morning with a look at seven PE-backed radiology-focused deals. We are also looking at the expected industry growth that is supporting PE’s interest.

Next, we are delving into the payments sector with a look at BharCap Partners’ majority investment in Electronic Merchant Systems. And we’re resurfacing our past coverage of the payments processing sector with analysis from investment bankers and other PE firms, in case you missed it.

We are conclude with Kingswood Capital Management’s acquisition of a classic name in information capture and document processing.

Radiology roundup

The global point-of-care medical imaging market is expected to expand at a compound annual growth rate of 4.3 percent by 2030, according to a Grand View Research report. At the same time, AI and other innovations are making imaging equipment more portable, accessible, affordable and easier to use. Private equity firms are increasingly investing in radiology-focused companies.

PE Hub’s healthcare reporter John Fischer rounded up seven deals completed or set to be completed this year on both sides of the Atlantic.

Upgrade to the premium version of the Wire to read all the seven deals.

Payments processing

BharCap Partners has made a majority investment in Electronic Merchant Systems, a Cleveland-based merchant services provider.

EMS was previously majority-owned by Jim Weiland, who founded the company in 1988.

Premium Wire subscribers learn more on this deal.

ICYM 

Earlier this year, I wrote a feature about the factors attracting PE firms to the payments sector. For that story, I interviewed Jamie Hamilton and Dan Daul, managing directors in William Blair’s technology investment banking group.

Upgrade to the premium version of the Wire to get more.

Kodak Moments

Kingswood Capital Management has acquired Kodak Alaris, a Rochester, New York-based information capture and document processing services provider from United Kingdom Pension Protection Fund.

Premium subscribers to the Wire have more on this deal.

If you’ve got any deal news tips to share, please reach out to me at [email protected].

That’s it for today.

I will be off for most of August, and my colleague Nina Lindholm will be filling in for me on the Friday Wire. See you in September!

MK Flynn will be back with the newsletter on Monday.

Have a nice weekend,

Obey

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

New York State Teachers’ Retirement System is considering a major shift away from large buyouts in favor of the smaller side of the market, which would put it among several large systems that have recently made similar moves. (Buyouts)

Paine Schwartz Partners is considering a portfolio-wide approach to decarbonization in place of the ad-hoc process it currently employs. The New York firm’s seventh sustainability report identifies several “hunting grounds” for decarbonization, which include ag productivity and sustainability, food and beverage products, ingredients, and controllable environment and high-value ag. (Agri Investor)

Goldman Sachs Alternatives added a co-controlled share of a 31GW US solar pipeline for $440 million to their global infrastructure strategy. The deal with US IPP BrightNight is the manager’s first foray into traditional renewables in a long while, and a response to the ongoing rebalancing of US PV market drivers. (Infrastructure Investor)

Funnelling capital where the impact is greatest: The flow of institutional capital into emerging markets is increasing, but the shortfall remains huge. (New Private Markets)

They said it

“All commerce ultimately requires payment, so the space is always highly relevant and evolving. Industry participants must be both innovative and great executors. As a result, there are many ways to play different themes and pull different levers to create value.”

— Aaron Cohen, head of the financial services and technology group at GTCR, about the appeal of payments processing for PE