Latest news with #Greenwich-based
Business Wire
2 days ago
- Business
- Business Wire
Great Point Partners Acquires Majority Stake in Eutecma – Sustainable Temperature Controlled Pharmaceutical Packaging
GREENWICH, Conn.--(BUSINESS WIRE)-- Great Point Partners ('GPP' or 'the Firm'), a Greenwich-based private investment firm focused exclusively on the health care industry, announced today the acquisition of a majority stake in Eutecma (or 'the Company'), a German-based developer of sustainable, modular, and reusable temperature controlled packaging solutions for pharmaceutical cold chain shipments. 'Nearly 17 years later we have the chance to make even greater strides, and we're thrilled to have GPP's support in this next phase of growth.' - Eutecma Co-Founder, Markus Baumgärtner Share Since its founding in 2008, Eutecma has been committed to producing passive cooling systems that make transport and logistics more sustainable and efficient. Eutecma is a leader in the pharmaceutical industry with its patented ICECATCH ® cooling systems being a top choice among pharmaceutical, medical, and laboratory diagnostics businesses. Eutecma's ' retecma ' has created a circular system for its packaging materials with an extensive network of Refreshment Centers. The process ensures materials remain in circulation for as long as possible while shrinking carbon dioxide (CO 2) emissions, and provides real-time CO 2 reduction data to clients. 'We have successfully created innovative and sustainable cold chain solutions that have proven themselves with well-known pharmaceutical customers,' said Eutecma Co-Founder, Florian Zeilfelder. 'Our work with GPP will advance that mission so we can strategically expand our reach, especially in the US and other geographies around the world.' 'Florian and I took a leap of faith when founding Eutecma because we knew we had an innovative idea for our industry,' said Eutecma Co-Founder, Markus Baumgärtner. 'Nearly 17 years later we have the chance to make even greater strides, and we're thrilled to have GPP's support in this next phase of growth.' With this partnership, Eutecma has also acquired Resolvision, Eutecma's proprietary re-use machine technology utilized at its Refreshment Centers. 'Eutecma impressed us with their innovative technology and approach to sustainability that is making a significant impact for pharmaceutical clients,' said Eddie Hjerpe, Senior Vice President at GPP. 'Their temperature performance, CO 2 reduction data, and differentiated engineering is exactly what the evolving cold-chain industry is looking for today.' 'Eutecma has the opportunity to further expand its global capabilities at a time when there's growing demand for reusability, cost-savings, and new cooling technologies within cold chain,' said Harrison Johnson, Vice President at GPP. 'This investment underscores our dedication to supporting exceptional high growth health care companies that assist in bringing lifesaving medicines to patients across the globe.' About Great Point Partners Great Point Partners ( founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with 32 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new minority and majority private equity investments from GPP IV. Great Point manages approximately $1.5 Billion of capital in its private funds and public biotechnology equity strategy (BioMedical Value Fund). Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 growing health care companies. The private equity funds invest across all sectors of the health care industry with a particular emphasis on biopharmaceutical services and supplies, alternate site care, contract manufacturing and information technology enabled businesses. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies. About Eutecma Founded in 2008 by co-founders Florian Zeilfelder and Markus Baumgärtner, Eutecma ( is a leading designer and manufacturer of sustainable, modular, and reusable temperature controlled packaging solutions for pharmaceutical clients. The Company is headquartered in Mannheim, Germany with Refreshment Centers in the EU and U.S. Eutecma's product portfolio is designed to be reused for multiple shipments, which enables clients to meet their sustainability initiatives while simultaneously yielding lower upfront and total cost of shipment compared to other TCP solutions. To pair with its reusable TCP solutions, Eutecma's 'retecma' program enables the evaluation of used packaging at their Refreshment Centers for evaluation and refurbishment before reusing or recycling the solutions for future shipments. This refurbishment process creates a circular economy whereby Eutecma products are reused until their end of life, at which point they are recycled creating a fully circular, sustainable economy.
Yahoo
14-05-2025
- Business
- Yahoo
Beach home brings $48.5M in Palm Beach. It last sold for $16M before the pandemic boom.
A direct-beachfront estate on the far North End of Palm Beach has sold for $48.5 million — or about $32.55 million more than it sold for six years ago, before the coronavirus pandemic arrived and helped launch a real estate boom that sent property values through the ozone layer. The estate at 1519 N. Ocean Way is ripe for renovation or replacement, according to the Corcoran Group's sales listing. The new owner is Kelly J. Roberts of Laguna Beach, California, the deed recorded May 14 shows. Married to Duane Roberts, she bought the estate as trustee of a community property trust in both their names. When two limited liability companies bought the property in May 2019, the entities were linked in public records to financier Edward A. Mule and Marian Mule of Greenwich, Connecticut. Their two companies paid a recorded $15.95 million for the bulk of the property and $936,571 for a side yard, property records show. Edward Mulé co-founded and is CEO and chief executive officer, co-founder of Silver Point Capital LP, a Greenwich-based hedge fund. The company has additional offices in Chicago; London; Stamford, Connecticut; and Charlotte, North Carolina. The sale was first reported by the Wall Street Journal on May 14, the day the transaction closed. Real estate attorney Maura Ziska signed the deed to sell both of the estate's parcels. She acted as the 'authorized signatory' of the two selling entities — 1519 N. Ocean Way #1 LLC and 1519 N. Ocean Way #2 LLC, both registered in Delaware. The buyers are 'food service and real-estate entrepreneurs' who plan to 'reconfigure and renovate' the house, the Journal reported. The Journal identified the Robertses as billionaires, but they are not listed in the 2025 Forbes list of the the world's billionaires. Duane Roberts is 'widely credited with inventing the frozen burrito in the 1950s,' the Journal article said. His wife 'heads the company he founded, Entrepreneural Corporate Group,' according to the Journal. Facing about 90 feet of beachfront, the Palm Beach estate includes a federally protected dune parcel that brings the total land measurement to about 1.8 acres when measuring from the street to the high-water line, according to the Corcoran Group's sales listing. The estate is the eighth seaside property south of the inlet at the northern tip of the island. Completed in 1936, the 10-bedroom Mediterranean-style residence has 12,928 square feet of living space, inside and on its wrap-around covered lanais and roofed balconies, according to the sales listing. The floorplan is roughly T-shaped to make the most of the narrow lot. Corcoran agents Dana Koch and Paulette Koch held the listing, which entered the market in mid-February with an asking price of $54.9 million. The price never wavered. Agent Tom Shaw of Sotheby's International Realty represented the buyer, the MLS shows. The sales listing described the two-story house as a 'captivating' European style villa. But the listing also said the buyer could 'renovate or build new on this rare waterfront property,' which was described as facing 'the widest and most private beach on the island.' Interior photos show detailed crown moldings; wood and stone floors; and a master suite with a tray ceiling and wide views of the sea. Other features include a winding staircase, a poolside dining room and an expansive living room with glass doors leading to the colonnaded lanai. The original architect is unknown, and the style of its architecture has been substantially changed since it was built, according to town records. Records in the MLS show that the house has been marketed for lease since it last changed hands in 2019. Although Palm Beach property values are no longer escalating at the rapid pace that accompanied the pandemic-sparked real estate boom, prices are still far higher than they were before the health crisis arrived in the spring of 2020. * This is a developing story. Check back for any updates. Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly 'Beyond the Hedges' column. He welcomes tips about real estate news on the island. Email dhofheinz@ This article originally appeared on Palm Beach Daily News: Palm Beach ocean estate fetches $48.5M after selling for $16M in 2019
Yahoo
01-05-2025
- Business
- Yahoo
CT man accused of defrauding investors out of nearly $3.5 million through hedge fund scheme
A Stamford man has pleaded guilty to federal charges after authorities accused him of defrauding multiple people out of nearly $3.5 million through a hedge fund scheme. Justin C. Murphy, 50, appeared Tuesday in federal court in New Haven where he pleaded guilty to one count each of wire fraud and money laundering, according to the U.S. Attorney's Office for the District of Connecticut. The charges combined expose him to 30 years in prison, officials said. According to federal authorities, Murphy owned and operated Greenwich-based Mara Investment Group, LLC, which was also known as Mara Investment Management LP and Mara Investments Global Management LLC. He purported the group to be a hedge fund that solicited investments and used a 'quantitative strategy that balanced long and short positions in securities.' According to officials, between around 2016 and September 2022, Murphy defrauded investors by pursuing a 'much riskier investment strategy' than he disclosed and diverted 'substantial investor funds' for his own personal use. Authorities alleged that he also informed victims that their investments were performing more favorably than they were. Murphy allegedly went as far as to provide investors with account statements that falsely represented their account balances and federal tax forms that falsely reported business income that required them to pay taxes on money they believed they had made, officials said. Murphy has been accused of stealing about $3,465,812 through the scheme, reportedly using the money for personal expenses and to purchase a personal stake in his relative's startup company, according to authorities. Murphy was arrested in Brazil on Dec. 6, 2023, and was detained for nearly 11 months while awaiting extradition to the U.S. He has been released on $250,000 bond since November 2024. His sentencing has not yet been scheduled.
Yahoo
30-04-2025
- Business
- Yahoo
Greenwich investment group operator pleads guilty to money laundering
GREENWICH, Conn. (WTNH) — A Stamford man pleaded guilty to money laundering offenses in connection with an investment fraud scheme, according to court documents. Justin C. Murphy, 50, was charged with one count of wire fraud and one count of money laundering. Yale student robbed while walking on Lynwood Place in New Haven Murphy owned and operated Greenwich-based Mara Investment Group, LLC., which he reported was a hedge fund that balanced long and short positions in securities, according to court documents. According to court documents, between 2016 and September 2022, Murphy allegedly defrauded investors by pursuing a riskier investment strategy than what was stated. He also allegedly used investor funds personally. Murphy also told investors that their investments were performing better than they were. He allegedly provided investors with account statements that falsely represented their account balances and falsely reported federal tax forms. Murphy allegedly stole around $3,465,812 in investor funds, according to court documents. Murphy was arrested in Brazil on Dec. 6, 2023. He was detained for nearly 11 months while awaiting extradition. He's been released on a $250,000 bond since Nov. 1, 2024. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
