Deals
Private equity firm HIG Capital has completed the sale of its portfolio company American Hardwood Industries (AHI) to Baillie Lumber.
Based in Waynesboro, Virginia, AHI is a manufacturer and supplier of hardwood lumber in the US and abroad.
Founded in 1955, AHI is the largest producer in its regions with over 100 million board feet of annual capacity across eleven sawmills and kiln drying facilities in Virginia and throughout the Appalachian territory. AHI sells its products under the Augusta, Blue Triangle and Graham Lumber brands.
HIG originally invested in AHI, then Augusta Lumber, in 2006. Since that time,
M&A is back on the corporate agenda to help deliver growth and expansion, however, corporates around the world are underestimating the costs and resources needed to complete a successful integration.
While the integration phase of a deal may never grab the headlines, it is in many ways the only way to properly evaluate the outcome of a deal, according to a survey by EY.
The right combination: Managing integration for deal success, a survey of over 200 senior corporate executives around the world involved in the deal integration process, found that, based on their most significant deals in the
RLJ Credit Opportunity Fund, an RLJ portfolio company, has invested in ShareTracker, a provider of communications and telecom market share measurement products.
The announcement supports ShareTracker's efforts to expands its current existing wireless, video, voice and data market share measurement product offerings to include cable, satellite and fibre TV subscription services, as well as mobile and fixed broadband services market and flow share measurement.
"The RLJ Credit investment in ShareTracker promotes American entrepreneurship and skilled job creation in a sector that is vitally important to business performance," says Robert L Johnson, founder of the RLJ Companies. "With our support,
FTBpro, the largest fan-generated media platform in online football, has closed a USD18m investment, bringing its total funding since inception to USD24m.
The company plans to use proceeds to further boost its global expansion, enhance strategic partnerships and enrich its mobile and video product offerings.
The fundraising round involved FTBpro’s existing investors, Battery Ventures and Gemini Israel Ventures, as well as new investment from London-based Dawn Capital and a major Asia-based media investor.
FTBpro, founded in 2011, is headquartered in London with offices in Tel Aviv. Following the investment round, the company will open offices in South East
China's largest fresh fruit shopping site, Fruitday.com, has completed a new round of financing led by ClearVue Partners, a private equity fund targeting fast growing and promising Chinese consumer companies.
SIG Asia Investments also participated in this round of financing.
"We met many PE firms and ClearVue was different. They were strategic, professional and had a deep understanding of our business and the consumer market in China — we are thrilled to receive investment from ClearVue Partners," says Wang Wei, founder and CEO of Fruitday.com. "We believe that there is strong and increasing consumer demand in China for the freshest,
UK fitness network PayasUgym has secured GBP1.6m in a funding round led by Albion Ventures and MMC Ventures, bringing total investment to date to GBP3.5m.
With 12 million ex-gym members in the UK (double the amount of gym members) PayasUgym offers a solution for those looking to get back into the gym, as well as first timers, by offering flexible, discounted gym passes nationwide.
The funding will be used to strengthen PayasUgym’s position in the UK and to launch new products and services – including enabling customers to compare and directly book fitness classes all over the UK.
MENA region commerce platform Souq.com has secured USD75m (AED275.5m) in an additional round of funding from existing investor Naspers Limited.
This round of funding brings the total amount raised by Souq.com to USD150m (AED551m) – the largest amount raised by any internet-based business in the region.
Souq.com has grown more than 10 fold in the past two years. Souq.com registers 23 million visits per month on its website, and 6.2 million registered users. It offers the widest selection of products in over 15 categories, from electronic gadgets to baby nappies, in a combined retail and marketplace model.
Ronaldo
An affiliate of Proprium Capital Partners is to make a significant minority investment of growth capital in Edinburgh-based property developer and investor Chris Stewart Group (CSG).
Terms of the investment have not been disclosed.
Founded in 1996, CSG executes city-centre redevelopment projects including its award-winning Advocate's Close development off Edinburgh's Royal Mile. CSG's long term objective is to invest in high quality prime locations, drawing on its relationships and experience.
The first deal concluded by the new partnership involves the purchase of Baxter's Place, a historic Georgian terrace building in Edinburgh's city centre, which is designated for 240-bed upmarket hotel development.
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Aviva has sold its Turkish general insurance business, Aviva Sigorta AŞ, to a private equity consortium led by EMF Capital Partners.
This agreement is part of Aviva’s strategy to narrow the group's focus on businesses where it has a leadership position and can generate attractive returns.
Aviva’s life and pensions business in Turkey, AvivaSA, is unaffected by this transaction.
The sale is subject to relevant regulatory approval and is expected to complete in the first half of 2014.
Funds advised by CVC Capital Partners have acquired Synsam Nordic A/S, an optical retailer in the Nordic region, from Alipes and former store owners.
Synsam’s history stretches back to 1968 when independent opticians in Sweden joined forces under a common brand name.
Alipes identified significant development opportunities within the fragmented Nordic optical market and during the years 2007 to 2009 performed, together with former store owners, over 200 individual acquisitions of Synsam and Profil Optik stores in Denmark, Norway and Sweden.
Synsam is the largest optical retail chain in the Nordic region with more than 420 own stores
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