Deals
Private investment firm Highlander Partners has sold its portfolio company, SensoryEffects, to Balchem Corporation, a publicly-traded human and animal health and wellness company.
The purchase price was USD567 million, before working capital and other adjustments.
The sale represents the culmination of eight years of collaboration and enterprise building between Highlander Partners and SensoryEffects' founder, chairman and CEO Charles A Nicolais and the management team he assembled.
Nicolais approached Highlander Partners nine years ago with a business plan he had developed to consolidate and professionalize certain segments of the food ingredient manufacturing industry.
Nicolais' vision was to create
Monroe Capital has funded a USD20.8 million unitranche credit facility to support the growth of Gracelock Industries.
Based in Los Angeles, California, Gracelock Industries is a privately-held e-commerce provider to the marine, power sports, and home décor industries with operations throughout North America.
Monroe Capital continues to expand its technology and e-commerce financing platform. Gracelock is an example of Monroe using its unitranche product to provide a complete financing solution to a growing e-commerce company.
DNV GL, a ship and offshore classification society and technical risk service provider, has acquired Marine Cybernetics, a specialist in third-party testing of computer control systems.
Marine Cybernetics was established in 2002 as a spin-off from the Norwegian University of Science and Technology (NTNU).
Based in Trondheim, Norway, the company introduced the concept of Hardware-In-the Loop-Testing (HIL) to the maritime and offshore industries. HIL testing reduces the risk of accidents, off-hire costs and non-productive time due to software-related issues.
“The decision to invest in Marine Cybernetics was driven by the increasing importance of software dependent systems in ensuring
US retail and consumer merger and acquisition (M&A) activity during the first quarter of 2014 was primarily driven by five multibillion dollar transactions, according to PwC's US retail and consumer deals insights Q1 2014 report.
More than half of those deals were aligned to the food and beverage sector.
For the three month period ending 31 March 2014, there were a total of 34 deals in the retail and consumer sector with disclosed values greater than USD50 million, accounting for USD39.3 billion in total deal value.
Deal volume for the quarter was consistent with the first quarter of
European private equity fundraising more than doubled in 2013 to EUR53.6bn, according to the European Private Equity and Venture Capital Association’s (EVCA) European Private Equity Activity report.
The increase was driven by a change in the profile of the funds raised, with 12 buyout funds each raising in excess of EUR1bn, representing 66 per cent of total fundraising.
The industry attracted significant levels of overseas capital into Europe accounting for around half of the funds raised (EUR26.2bn). The contribution from North American investors increased from 24 per cent in 2012 to 36 per cent.
Pension funds and fund
Flux, a provider of collaborative design software for the building construction industry, has raised USD8 million in Series A financing.
DFJ led this investment round with participation from Borealis Ventures.
Flux's mission is to spread design knowledge and improve the accessibility of design tools in order to help meet the world's demand for durable, sustainable buildings.
Flux was born out of Google's moonshot factory, Google[x]. The founding team sought a solution to reduce the environmental footprint of buildings, while simultaneously addressing rising demand for buildings driven by rapid urbanisation.
"The power required to heat, cool, light, and
Morgan Stanley Global Private Equity has completed the sale of its majority interest in Learning Care Group (US).
Financial terms of the transaction have not been disclosed.
Learning Care Group focuses on the care and education of children between the ages of six weeks and 12 years. The company’s national platform of more than 900 schools has the capacity to serve more than 100,000 children in 36 states with approximately 17,000 employees.
Learning Care Group operates under five distinct brands: La Petite Academy, Childtime, Tutor Time, The Children’s Courtyard, and Montessori Unlimited.
“Morgan Stanley Global Private Equity has
Agreement has been reached in principle for Guernsey fund administration firm Fund Corporation to be acquired by Brazilian emerging markets specialist Providence Financial, subject to regulatory approval.
All 10 Fund Corporation employees will join a newly-established Providence Financial Guernsey office.
Fund Corporation was founded in 2007 by the Trust Corporation Group and specialises in fund and investment administration across a wide range of asset classes and fund structures, particularly in assisting entrepreneurial clients looking to expand their operations with a proactive business partner.
Trust Corporation executive chairman and Fund Corporation director Michael Betley says: “Fund Corporation has worked
Private equity firm American Capital has sold its portfolio company BCCK Holdings, parent to Specialty Brands of America, to B&G Foods, a manufacturer, marketer and distributor of branded shelf-stable foods.
American Capital and its affiliated funds received USD93 million in equity proceeds and realised a gain of USD60 million from the transaction, subject to post-closing adjustments.
Of the total proceeds, American Capital received USD54 million in equity proceeds, realising a gain of USD35 million from the transaction, subject to post-closing adjustments.
American Capital also recognised USD20 million of dividend income and additional realised gains over the life of
Private equity firm Avista Capital Partners has formed a joint venture with SEACOR Tankers, an operator of a fleet of seven US-flag Jones Act vessels transporting crude oil, petroleum and specialty chemical products.
Under the terms of the joint venture, ACP III Tankers LLC, a wholly owned entity of Avista, will fund a portion of the equity required for the design and construction of three 50,000 deadweight ton product carriers, each with 330,000 barrel cargo capacity, which SEACOR has contracted to build at General Dynamic's National Steel and Shipbuilding Company (NASSCO) shipyard in San Diego, California, with vessel delivery dates
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