Deals
Private equity investment activity held steady for emerging markets in 2013, with deal volume gaining momentum in the last six months, according to the Emerging Markets Private Equity Association (EMPEA).
This investment activity led to an overall capital flow of USD24bn in emerging markets last year, representing 883 deals and a seven per cent decline in capital year-over-year from 2012.
While fundraising was down with only 150 funds raising USD36bn in 2013, a 19 per cent decline in total capital raised compared to 2012, the relatively constant deal volume indicates that private equity investors continue to find investable companies
Anergis has closed a financing round totalling CHF8m which was fully subscribed by existing investors and directors and co-led by Sunstone Capital, BioMedInvest and Renaissance PME/Vinci Capital.
Anergis will use the proceeds to further advance the clinical development of its lead product AllerT, a vaccine to treat birch pollen allergy, and to advance two additional vaccine candidates against house dust mite and ragweed allergies.
For AllerT, the funds will specifically allow the preparation of Phase III trials and the conduct of a long-term efficacy follow-up trial of patients who participated in the recently completed field-based Phase II study. The
Cash-rich Norwegian private equity firms are eyeing up potential North Sea acquisitions, encouraged by proven management teams and reasonable market prices, claims an energy expert.
Rosalie Chadwick, a partner in legal firm Pinsent Masons, believes the Scots-Nordic alliance will be strengthened in 2014, echoing a number of investments in recent months, but it won’t be one-way traffic.
“There is an increased confidence by Norwegian investors in UK oil and gas assets,” says Chadwick. “The appeal of strong and proven management teams, who are successfully working what are often difficult assets, set against reasonable market prices, is a big pull
Intervale Capital, an energy-focused private equity firm, has invested alongside a veteran management team to form Tier 1 Energy Solutions.
Tier 1 provides wireline and completion services and is headquartered in Edmonton, Alberta.
Tier 1 currently has field operations in Nisku and Grande Prairie and a sales office in Calgary. The company plans to expand its footprint to include the most active oil and gas producing regions in the Western Canadian Sedimentary Basin.
Kevin O'Dwyer serves as Tier 1's chief executive officer. He brings over 30 years of oilfield service experience to the company, and joins a team of
An affiliate of Sun European Partners has acquired the Invensys appliance division from its parent company Schneider Electric, a specialist in energy management based in France.
Upon completion of the transaction, Invensys Appliance will become the Robertshaw Controls Company.
Robertshaw is a design, engineering and manufacturing company that sells a range of critical components and control systems used to regulate all major functions of white good appliances such as cooking, refrigeration, laundry and dishwashing machines, in both the residential and commercial sectors. Its products include electromechanical and electronic controls supplied under the Robertshaw and Ranco brand names to international
Lysanda, a telematics technology provider for fleet and insurance markets, has acquired Tracker Network (UK), a stolen vehicle recovery provider and a wholly owned subsidiary of Direct Line Group.
The combined companies intend to establish Tantalum Corporation, with approximately GBP20m in revenues and some 500,000 telematics installations throughout Europe.
The deal will combine Lysanda’s B2B customer base alongside Tracker’s long-standing B2C sales reach.
The acquisition has been funded by the existing Lysanda investors, including the Sustainable Technology Fund, Rockhopper Investments and Disruptive Capital Finance.
Cédriane de Boucaud, non-executive director at Lysanda, says: “Lysanda has been at the
BaltCap has reached the first close on its latest fund, BaltCap Private Equity Fund II (BPEF II), at EUR50.6m and has subscribed commitments of EUR63m from investors already.
BPEF II, which has a target of EUR100m, has achieved support from limited partners including the European Investment Fund (EIF) investing through Baltic Innovation Fund (a fund-of-fund initiative between EIF and the governments of Estonia, Latvia and Lithuania), the European Bank for Reconstruction & Development (EBRD) and Baltic pension funds managed by Swedbank Investment Funds, LHV Asset Management and Danske Capital.
BPEF II will continue the strategy employed by BaltCap Private
Aurora Resurgence, an affiliate of private equity firm Aurora Capital Group, has completed the acquisition of Paris-based Arc International Cookware from the Arc International Group.
The deal includes Arc International Cookware’s subsidiaries Arc International Cookware Spain & Portugal, Arc International Cookware Srl and Arc International Cookware Ltd.
The company will be re-named International Cookware as part of the corporate carve-out, effective immediately. Financial terms of the transaction have not been disclosed.
International Cookware, which operates as an autonomous subsidiary, specialises in the design, manufacture and distribution of multi-material cookware products. It holds the exclusive license for the distribution of
A fund managed by Ashmore Colombia has acquired an 85 per cent interest in Compañía de Desarollo Aeropuerto Eldorado (Codad), the concessionaire of the two runways at El Dorado Airport in Bogotá.
The runways have been acquired from Abertis Infraestructuras for a total consideration of COP132bn (approximately USD66m).
Codad was incorporated in 1995 to execute the concession contract for the construction of the second runway at El Dorado Airport and to perform maintenance on both of El Dorado’s runways. El Dorado is Colombia’s largest airport carrying the third highest number of passengers in Latin America, with 22.5 million passengers
Elysian Capital I has acquired, in conjunction with the company’s management, Wellbeing Software Group, an IT group focused on the provision of software solutions and services to hospitals throughout the UK.
The group is formed of three distinct business units, HSS, EuroKing and Apollo, of which HSS is the largest.
HSS, based in Mansfield, supplies radiology software (RIS) into secondary care (hospital trusts). The software is at the core of the radiology department, holding patient information; appointment scheduling; radiology history (e.g. MRI, X Ray or Ultra Sound); as well as providing the functionality and history for the diagnosis, consultants
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