Deals
An affiliate of private equity investment firm HIG Capital (HIG) is to acquire Elekeiroz, a leading chemicals manufacturer in Brazil, from its controlling shareholder Itaúsa – Investimentos Itaú, one of Brazil’s largest conglomerates.
HIG will acquire 96.5 per cent of the Company’s shares from Itaúsa and plans to acquire the remaining shares as soon as possible. Elekeiroz, which is listed on the São Paulo stock exchange, generated sales of over BRL975 million in 2017.
Founded in 1894 in the state of São Paulo, Elekeiroz is the sole producer of oxo-alcohols in Latin America and the largest producer of plasticisers
Littlejohn & Co, a middle market private investment firm based in Greenwich, CT, has made an investment, alongside company management, in Motion Recruitment Partners, a global recruitment firm.
Terms of the transaction were not disclosed.
Headquartered in Boston, with services spanning 47 countries, Motion Recruitment is a leader in the talent acquisition industry. The company provides specialised IT staffing through its Jobspring Partners and Workbridge Associates businesses and offers global recruitment outsourcing services through its Sevenstep business for a broad range of industries in need of both permanent and contract labour.
Brian Ramsay, President at Littlejohn, says: “As
NovellusDx, a specialist in functional genomics, has completed an equity financing of USD6 million backed by Helsinn Investment Fund, Bio Capital Impact Fund, and Windham Venture Partners. This adds to the nearly USD17 million already raised by the company.
“We are excited to invest in NovellusDx and support their aim to lead the functional genomics revolution,” says Roberto De Ponti, Head of New Venture and Strategic Investment at Helsinn International Services sarl. “NGS has revolutionised cancer care and now we have the opportunity to take it one step further to functionally test the mutations found and their response to drugs.
Hutchinson Networks, an Edinburgh-based technology business, has received a GBP2.2 million growth capital investment from funds advised by YFM Equity Partners (YFM), the private equity fund manager.
Hutchinson Networks Limited is a leading provider of multi-vendor IT and network solutions to national and international clients offering advanced infrastructure services to a rapidly expanding client base, including a major UK airport, an international consumer brand, several Fortune 100 companies and a global retail technology brand.
Hutchinson Networks employs 89 staff across the UK and a network of professionals across the globe. The business is projecting turnover of GBP11.5 million this year,
GALA Kerzen, a leading manufacturer of candles backed by Equistone Partners Europe has made its third bolt-on transaction since February with the acquisition of Korona Candles (Korona).
Based in Poland, Korona is one of the world’s leading manufacturers of “private label” candle products. With the acquisition of Korona, GALA Kerzen is further expanding its product range, growing its international presence, and establishing itself as a leading global candle manufacturer following the recent additions of Indian company Ramesh Flowers and Berlin-based JewelCandle to the group. GALA Kerzen has acquired its shareholding in Korona from the company’s management, who will in turn
Gainline Capital Partners (Gainline), a private equity firm that invests in US based middle market companies, has made an investment in Integrated Energy Services Corporation (iES).
Terms of the deal have not been disclosed.
iES is a leading provider of grid relationship management software and demand response services to commercial electricity customers. This transaction marks Gainline Capital Partners’ second platform investment in its inaugural fund.
iES Founder and CEO Brock Nigg, says: “We are excited to partner with Gainline as we execute on our strategic vision and enter the next phase of growth at iES. Gainline’s investment and support
Victory Park Capital (VPC) has made a USD45 million investment in Miami Gardens-based United Automobile Holdings (United Auto).
Founded in 1989, United Auto is a leading provider of non-standard auto insurance products in the United States, with a primary focus on serving various Florida and Texas markets. The company’s unique suite of capabilities come from its two operating subsidiaries, namely United Automobile Insurance Company (UAIC), a regulated property and casualty insurance carrier focused on the non-standard automobile market, and United Group Underwriters (UGU), a managing general agency specialising in sourcing and underwriting non-standard auto insurance policies. The company’s products are
Italmatch Chemicals is to acquire Afton Chemical’s metalworking fluid business (formerly Polartech).
The deal includes the acquisition of the entire business and assets relating to metalworking fluid carried out in Bedford Park (Illinois, USA) and Manchester (UK, Europe) sites, the know-how, technology and business in India and China, with production carried out from Hyderabad plant and in China.
Sergio Iorio, CEO of Italmatch Chemicals Group, says: “This acquisition represents for Italmatch Chemicals a significant step forward in the strategy of expanding its market position in the industrial lubricants market. The agreement strategically follows the recent acquisition of Elco Corporation
KPS Capital Partners (KPS) has signed a definitive agreement, through an affiliate, to sell Electrical Components International (ECI) to an affiliate of Cerberus Capital Management. Financial terms of the transaction have not been disclosed.
ECI is the world’s leading manufacturer of wire harnesses, control boxes and value-added assembly services for consumer appliance and specialty-industrial applications. ECI manufactures products for a variety of electronic and electromechanical applications for customers worldwide in a diverse range of end-markets, including home appliances, agriculture and construction, heating, ventilation and air conditioning (HVAC), specialty transportation, automotive, commercial appliance and commercial electronics. ECI currently operates 35 manufacturing
Omnes has made a partial exit from the French telecoms construction group Circet, through a sale to Advent International.
Omnes initially invested in Circet in February 2017 and continues to support the number one French firm specialising in the construction and maintenance of telecommunications infrastructure.
Omnes generated an IRR of 103 per cent in the deal, which marked the second successful exit for Omnes Croissance 4 fund this year. In February 2017, the Capcom exit generated a multiple of 2.6 times and an IRR of 95 per cent.
Circet was founded in 1993 and reported revenues in excess
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