Private equity investment firm HIG Capital has sold Safe-Guard Products International to an affiliate of Goldman Sachs, a global investment banking, securities and investment management firm. Based in Atlanta, Georgia, Safe-Guard is a provider of finance and insurance (F&I) products to the automotive industry. “HIG has been a tremendous partner
Guernsey is well on the way to introducing a funds regime which is compliant with the EU’s proposed Alternative Investment Fund Managers Directive (AIFMD). The final Level 2 rules for the detailed implementation of AIFMD were published on 19 December 2012. However, Guernsey has already begun drafting new regulations to
Private equity firm Cinven’s investment subsidiary, BCV Investments, is to sell the aviation business of portfolio company Avio, which designs, manufactures and services components for commercial and military jet engines, to GE for a total consideration of EUR3.3bn. Avio will retain full control of its space unit and will remain
The establishment of a regulated alternative investment industry in Europe took a major step forward with the publication of the European Commission’s so-called “Level 2 measures” to supplement certain elements of the Alternative Investment Fund Manager Directive (AIFMD), says the Association of the Luxembourg Fund Industry (ALFI). Marc Saluzzi (pictured),
Albion Ventures has invested GBP2.6m in Proveca, a pharmaceutical company that develops innovative and technically complex new pharmaceuticals largely for children. Proveca, which was established in 2010 by Simon Bryson and Dr Helen Shaw, focuses on the re-engineering of existing generic medicines to make them appropriate for use by young
Waud Capital Partners’ portfolio company ProNerve has acquired PhysIOM Group, one of the largest providers of intraoperative neuromonitoring (IONM) services in the western and southeastern US. Headquartered in Colorado, PhysIOM serves over 290 hospital clients across 33 states. PhysIOM represents ProNerve’s third acquisition in 2012 and establishes the company as
Aston Hill Financial has completed its purchase of Citadel Securities, a provider of investment advice and services to private and institutional investors. The deal was previously announced on 15 November. Aston Hill is a diversified asset management company with a suite of retail mutual funds, closed end funds, private equity
Gulf Oil Corporation, part of the Hinduja group, has completed its USD1.045bn acquisition of Houghton International, a metalworking fluids and lubricants company. Houghton was purchased from a US-based private equity fund AEA Investments, as announced on 7 November 2012.
Wellspring Capital Management has sold its portfolio company Cleaver-Brooks, a provider of boiler room solutions, to Harbour Group. Terms of the transaction have not been disclosed. Since acquiring Cleaver-Brooks in June 2008, Wellspring and management worked closely to leverage the company’s position and optimise the value of its integrated product
Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, has launched AbacusVoice, a fully managed voice solution. AbacusVoice offers the convenience of a hosted turnkey solution with always-on technical support, eliminating the need to invest in on-site systems and maintenance staff. As budgets
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