Africa-focused private equity firm DPI’s ADP I Fund has sold its 27.7 per cent shareholding in CAL Bank in Ghana to Arise, a financial services investment company whose major shareholders are Norfund, Rabobank and FMO. The deal is due to complete on 14 February 2017. CAL Bank is one
Sovereign Capital is to back the management buy-out of Arachas Corporate Brokers, an insurance brokerage operating in Ireland. Sovereign will work with the management team to further grow and develop the business through a strategy of buy and build. The transaction is subject to approval from the Central Bank
Middle market private equity firm Calera Capital has acquired a majority stake in the Evans Network of Companies, a provider of intermodal and other trucking services through a non-asset based agency model. Bo Bates, Evans’ CEO, the Evans family and management will retain a significant equity interest in the business.
Mourant Ozannes has acted as Cayman Islands counsel for the buyer group in connection with the take-private of China Nepstar Chain Drugstore, a Cayman Islands exempted company formerly listed on the New York Stock Exchange. The take-private was effected by way of a Cayman Islands statutory merger, pursuant to which
Palatine Private Equity-backed holiday park group Verdant Leisure has acquired its seventh leisure park. Crosslaw Caravan Park in the Scottish Borders is the third holiday park purchase in the last nine months for the bespoke leisure park operator. The park will be renamed Coldingham Bay Leisure Park with immediate
Shard Capital Partners has held the first closing of the Suir Valley Venture Fund of Suir Valley Funds ICAV, the first Irish focused venture capital fund in Ireland that uses a regulated fund with a fully regulated Alternative Investment Fund Manager (AIFM). The fund invests in early stage software companies
Cloud solutions provider (CSP) Cloud Direct has acquired Connect Support Services, following hot on the heels of its January acquisition of AOG Group, a Microsoft gold partner for hosting and communications. In previous months, Cloud Direct acquired Redblade in July 2016, ihotdesk in December 2015 and Datel Business Systems in June 2015. The acquisition of Connect
One of First Allied Securities’ affiliated independent financial advisory firms, Lifestyle Financial Advisors, has completed the merger of the Laura A Nagle independent advisory practice into its organisation. Nagle, a 35-year industry veteran, has joined Lifestyle with more than USD167 million in client assets, as of 31 October 2016.
Palamon Capital Partners has completed the sale of SARquavitae, an elderly care provider in Spain for EUR550 million. Palamon sold SARquavitae’s operating business to GeriaVi, which holds Geriatros, another leading player in the Spanish elderly care market, and is a subsidiary of DomusVi (a PAI Partners portfolio company) for EUR440 million.
Mid Europa Partners is to sell Alpha Medical, provider of laboratory testing services in the Czech Republic and Slovakia, to Unilabs. The transaction, which is subject to customary clearance by local competition authorities, and is expected to close in Q2 2017, represents the largest healthcare transaction in Central Europe since
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