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Over half of large and medium sized businesses (55 per cent) expect a substantial revenue drop this year due to the Coronavirus outbreak. The poll, commissioned by Leonne International, a global private equity provider, was conducted by independent survey company Censuswide, which quizzed 200 senior business decision-makers on the government’s response to the Covid-19 crisis.
The polling was conducted between Wednesday 18 March – Thursday 19 March after the Chancellor’s announcement of a GBP330 billion package to support businesses cope with the outbreak. Some 52 per cent agreed that the government was doing enough to help companies tackle the crisis, with
- 23/03/2020
French private equity group Ardian has completed its acquisition of a majority stake in Audiotonix, a manufacturer of audio mixing consoles, from Astorg.
- 20/03/2020
As the global economy is entering a recession following the global coronavirus pandemic, business activity grinds toward a halt worldwide. What will this mean for the health of GP’s portfolios and how can the risks be managed in an effective way?
- 20/03/2020
Lindsay Goldberg, a private investment firm that focuses on partnering with families, founders and management teams seeking to actively build their businesses, has completed its sale of VDM Metals (VDM) to Acerinox for EUR532 million.
- 19/03/2020
YFM Equity Partners-advised funds have sold their shares in GroupBC to strategic acquirer Bentley Systems, a provider of comprehensive software and digital twins services for advancing infrastructure.
GroupBC was backed by British Smaller Companies VCT plc and British Smaller Companies VCT2 plc, both are advised by YFM.
The exit has delivered a money multiple return in excess of 3x for the investors, according to YFM, which has been investing in UK SMEs since 1982. The Mayfair-based firm’s portfolio includes companies like Springboard, Tonkotsu and Sharpcloud.
“GroupBC has scaled strongly since the YFM-backed MBO in 2014, breaking new ground with project
- 19/03/2020
- 19/03/2020
Medicxi, a European life sciences investment firm, has appointed Sanford (Sandy) Zweifach and Paul Sekhri as Venture Partners.In their roles at Medicxi, Zweifach and Sekhri will leverage their strong track records of successful transactions and respective 30 plus years of experience stewarding life sciences companies to help steer Medicxi’s portfolio companies to optimal growth and the best suited strategic transactions, as a number of molecules in development move to proof of concept stage, or enter the clinic.
Zweifach is currently the Chairman of Palladio Biosciences, and Executive Chairman of Janpix, two Medicxi portfolio companies. His focus is in corporate partnering, business development,
- 19/03/2020
- 19/03/2020
Polsinelli, an Am Law 100 firm, has appointed Daniel F Valsamopoulos as a shareholder in the firm’s Corporate and Transactional Practice in New York. Valsamopoulos was previously a partner at Westerman Ball Ederer Miller Zucker and Sharfstein, a boutique law firm on Long Island.
Valsamopoulos regularly represents private investment firms and private and public companies in a wide range of transactional matters including private equity and venture capital investments, mergers and acquisitions, divestitures, joint ventures, strategic alliances, private offerings of securities and general corporate matters.
“I am excited to join Polsinelli and work with the firm’s outstanding attorneys,” says Valsamopoulos.
- 19/03/2020
PEF Services, a fund administrator for Alternative Investment Managers, today has released a new white paper entitled “Distribution Waterfalls: The Definitive Guide for Limited Partners.” Investing is about returns, and, in private equity, how those returns are distributed to investors is dictated by the waterfall provisions of the Limited Partnership Agreement. Until recently, many investors paid less attention to this important calculation than they should, mainly because of the complexity of the calculation and the difficulty in getting enough detailed information to review it for reasonableness.
Drawing on PEF’s extensive fund administration expertise, and knowledge on the subject of distribution waterfalls,
- 19/03/2020
Mourant has won ‘Best Offshore Law Firm’ at the Private Equity Wire European Awards 2020.The awards, hosted by specialist funds publication, Private Equity Wire, recognise excellence among GPs and their service providers, celebrating the achievements of firms that contributed to a successful year in the private equity sector.
Partner and Global Head of the firm’s Investment Funds practice, Ben Robins, says: “2019 proved another exciting year for the global private equity industry where a dynamic market saw strong deal-making and fund raising exceeding half a trillion dollars for the fourth year in a row.
“Mourant also had a standout
- 19/03/2020
Capricorn Partners has joined a double-digit million growth financing round for plant-based protein firm Prolupin with an investment of EUR7 million, from its Capricorn Sustainable Chemistry Fund and Quest for Growth.
The funding round was led by Capricorn Partners, an independent manager of private and quoted equity funds that invest in minority shareholding positions of companies with technology as competitive advantage, and Stockholm-based growth investor Novax powered by the Swedish Axel Johnson family.
The round was initiated by existing investors Munich Venture Partners and eCapital Entrepreneurial Partners. Investment bank Bryan, Garnier & Co acted as financial advisor on the transaction.
The
- 19/03/2020
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