Deals
Alternative Asset manager Ares Management closed approximately USD3.0 billion in investments commitments across 67 transactions during the third quarter of 2017.
Accruent/Genstar Capital – Ares served as administrative agent, joint lead arranger and joint book runner for a first lien term loan to support Accruent’s acquisition strategy and to refinance the company’s existing capital structure. Ares also served as administrative agent for a term loan and invested in the second lien term loan in connection with the transaction. Accruent is a leading provider of real estate and facilities management software serving customers across several industry verticals including retail, telecom, healthcare, higher education
Amundi Private Equity Funds (Amundi PEF), a key player in private equity, and Entrepreneur Venture, have acquired a minority stake in Greenoffice, a designer of innovative solutions for selective sorting, to support its international development.
Since its creation in 2004, Greenoffice has revolutionised selective sorting by designing innovative solutions that stand out by their attractive design, extreme simplicity of use and, more recently, integrated connectivity. The results are very convincing: sorting quality of close to 100% and productivity gains allowing businesses to lower their waste management costs by at least 25% and restaurants to significantly reduce waste. Driven by its
Dallas-based private equity firm CenterOak Partners has completed a majority investment in FullSpeed Automotive. Based in Greenwood Village, Colorado, FullSpeed Automotive is one of the nation’s largest independent franchisors of automotive quick lube centres.
President and Chief Executive Officer John B Adams and the existing management team will continue to lead the Company following CenterOak’s investment.
“We are pleased to partner with a strong and experienced management team that has demonstrated a proven ability to generate organic and acquisitive growth,” says Randall Fojtasek, Managing Partner of CenterOak. “FullSpeed Automotive represents an attractive opportunity to work with one of the
Tour Partner Group, a newly-formed formed holding company for Hotels & More, Irish Welcome Tours and Authentic Vacations, is to acquire Trans Nordic Tours, the largest local inbound tour operator to the Nordic countries by revenue.
Trans Nordic Tours, launched in 1995, is based in Denmark and successfully led by founders Yvonne and Pierre d’Hermilly. It provides in-market services for consumers travelling to popular destinations throughout Scandinavia, Iceland, Greenland, Finland, the Baltics and Russia. Since inception, it has grown to 41 staff, speaking 17 different languages, and services a fast growing and geographically diverse client base.
The acquisition marks
Smartkarma, Asia’s largest provider of independent investment research, has closed a Series B round of financing led by Sequoia India, which brings the company’s total funding to USD21 million.
Smartkarma is disrupting the traditional model of investment research, which has long been dominated by investment banks. It is a model in a state of flux: banks are under pressure from regulators to improve pricing transparency and resolve inherent conflicts between their research and investment banking departments. Many investment banks are also downsizing research desks due to cost constraints, resulting in a decline in the depth and breadth of coverage of
Oakley Capital Private Equity III (Fund III) is to aquire Apollo Global Germany (Career Partner Group), from its current shareholder Apollo Education Group Inc.
Fund III, together with a number of underlying Fund III investors, will hold a 79 per cent stake in the business. Fund III will be partnering with CEO Dr Sven Schütt and his management team, who will be investing in the new structure.
Career Partner Group is a leading provider of private higher education and personnel development in Germany. Operating principally under the brand of International University of Applied Sciences Bad Honnef (IUBH), the business
Certain funds managed by Ellington Management Group, a US-based investment manager, are to become minority shareholders in the Thea Artemis Greek Non-Performing Loans (NPL) servicing platform, subject to regulatory approval.
The Ellington Funds have also made an investment alongside DDM to participate in the income generated from the servicing and performance of the Artemis Portfolio. As a result of this transaction DDM’s investment will decrease by EUR15 million from EUR50 million to EUR35 million.
Thea Artemis was formed in July 2017 through a partnership between Attica Bank and Aldridge EDC, a specialty finance company and acquirer and manager of
Preservation Capital Partners (Preservation Capital), a financial services focused private equity firm, is to acquire a substantial stake in Ascent Underwriting (Ascent), a cyber and specialty lines MGA.
Preservation Capital will provide significant growth capital to support Ascent’s growth ambitions through the development of new business lines and complementary products via the acquisition of emerging risk/specialist MGAs and through selective team hires.
The investment will assist Ascent to meet the strong growth in demand for cyber insurance cover globally and further develop Ascent’s proprietary OPTIO technology platform, while expanding its global distribution and in-house talent base.
The existing
Westpac Banking Corporation and Northill Capital have entered into an agreement regarding the sale of Hastings.
Northill is an independent, privately held asset management business, established in London in 2010. Northill is a long-term investor in high quality, specialist asset management businesses, with extensive global operating experience. As at 30 September 2017, assets under management by businesses in which Northill owns a majority interest total approximately USD48 billion. Northill is focused on investing in a long-term partnership, supporting the continued development of Hastings as an independent asset management business and providing significant co-investment capital to enhance alignment with investors.
Private equity firm High Street Capital has acquired a controlling interest in Open Range Beef, a niche provider of beef processing services, focused on serving the Certified Organic, grass-fed, antibiotic-free, toll processing and other niche markets.
Open Range Beef focuses on food safety, employee safety, quality processes, humane animal handling practices and traceability, as evidenced by its certifications from Oregon Tilth and Safe Quality Foods, among others.
The acquisition is High Street’s eighth platform investment for Fund IV.
Andrew Simmons, an HSC Principal, says: “Under the ownership of Jill Noetzelman, Pat Shudak and Tim Donmoyer, Open Range Beef
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