Global aerospace and defence (A&D) merger and acquisition (M&A) value reached a record level in 2011, according to Mission Control, a quarterly analysis of M&A activity in the global A&D sector by PwC. Aggregate deal value reached USD43.7 billion supported by 341 deals in 2011, compared to total deal value

Hogan Lovells has advised Ares Capital, Lloyds TSB, RBS and Santander on the acquisition by Duke Street Capital of a majority stake in Parabis, thought to be the first ever leveraged buy-out of a law firm in the UK. The deal was announced on Monday 6 February. Parabis is a

Bregal Investments is forming Bregal Partners, LP, a middle-market private equity fund with USD500 million of committed capital. The fund’s investment efforts will be led by Robert Bergmann and Scott Perekslis, who will serve as Managing Partners. The fund, based in New York, will focus on control-oriented investments in North

High Road Capital Partners has sold Milwaukee Gear Company for USD80 million, marking the first exit for the firm’s debut fund, High Road Capital Partners Fund I, LP. The sale generated a 2.6x gross cash-on-cash return and a 31.6% gross IRR for High Road. The firm’s July 2008 investment in

The Green Building Group, an HIG Europe portfolio company headquartered in Graz, Austria, has acquired a majority stake in Lumar IG d.o.o. (Lumar), the leading Slovenian manufacturer of prefabricated houses. As part of the transaction, Lumar’s founding owners, the Lukic family, have taken a stake in Green Building Group. Lumar

Mid Europa Partners has entered into a binding agreement with its partner France Telecom-Orange, for the sale of their combined 100% stake in Orange Austria to Hutchison 3G Austria (Hutchison), a subsidiary of Hutchison Whampoa Limited. Mid Europa currently holds a 65% stake in Orange Austria and France Telecom-Orange a

Phoenix Services International, a steel mill services provider, has acquired Gagneraud Industrie SAS (GI). GI will now be known as Phoenix Services France. Headquartered in France, GI began operations in the early 1900s as a subsidiary of the Gagneraud Group, which was founded in 1880, and is the largest provider

Troika Ventures, the venture arm of Troika Dialog and venture company, has successfully achieved the first exit from its investment portfolio by selling its share in Evernote Corporation to Sequoia Capital. Troika Ventures was Evernote’s first institutional investor, which has since successfully attracted multiple investment rounds from top tier international

Lyceum Capital-backed M&C Energy Group (M&C), the global energy consultancy, has expanded its US footprint and strengthened its market position with the acquisition of fellow energy consultancy Coleman Hines, headquartered in Phoenix, Arizona. The mid-market growth investor acquired M&C for £22 million in 2010 and, since then, has implemented a