Deals
Black Swan Energy has completed a USD150m increase in the equity capital commitments from its existing shareholders which include Warburg Pincus, Canada Pension Plan Investment Board and KERN Partners.
This brings the total capital commitment from its shareholders to USD501m, with the new capital being used to fully fund the appraisal and early development of its current properties.
Black Swan is focused on its growing base of liquids-rich production in the Montney play in British Columbia and the Duvernay play in Alberta. The additional capital will support further drilling in both plays.
Mid-market European private equity firm Palamon Capital Partners has agreed the sale of its majority stake in Cambridge Education Group (CEG) to Bridgepoint.
The sale will generate a return on investment for Palamon of 14.6 times, with a capital gain of GBP141m and an IRR of 58 per cent.
Cambridge Education Group provides pre-university education to students from over 95 countries via its global recruiting network. It forms part of the rapidly growing UK education export industry, which is estimated to be worth GBP17.5bn p.a. and one of the ten largest export segments in the country.
Palamon originally sourced its investment in
Segulah IV LP is to acquire Øglænd Industrier AS, a developer, manufacturer and seller of multidiscipline support solutions, cable trays and cable ladders world-wide to the oil & gas, infrastructure, ship building, wind power, water treatment and clean room industries.
These solutions deliver added value through reduced installation time, maximised volume use, weight reductions, enhanced life-time integrity and improved safety performance.
The company, with headquarters in Stavanger in Norway, is diversified in all regions of the globe, generating 60 per cent of sales outside Norway. Øglænd Industrier has 13 subsidiaries with manufacturing facilities in Norway, Malaysia and China and
Mid-market private equity provider LDC has completed the sale of its stake in Kee Safety, a global safety business, in a GBP90m deal with Dunedin.
LDC took a significant stake in Kee Safety in February 2011.
Headquartered in Meriden, near Birmingham, Kee Safety is a provider of safety systems and solutions. Its specialist product portfolio includes a wide range of personal and collective fall protection solutions, specifically designed to separate people working at height or on the ground from hazards. The business operates through a number of brands including KeeGuard, Kee Walk, Kee Access and Kee Klamp.
Since
Investec Growth & Acquisition Finance has provided a GBP16m integrated debt facility to support the growth strategy of the London-based garment designer and manufacturer Carmel Clothing.
As part of the financing arrangement, Investec has provided Carmel with revolving and amortising loan facilities, delivering working capital funding and support for future investment.
The Kentish Town-based designer and manufacturer has offices in China and Vietnam employing more than 100 staff and generating revenues of GBP30m. Carmel supplies high-profile UK and European high street stores and supermarkets such as Next and Arcadia Group, offering catwalk inspired commercial designs through early development and
Private equity firm Indigo Partners has, through an affiliate, completed the acquisition of Frontier Airlines from Republic Airways Holdings.
Final terms of the transaction, which was first announced on 1 October 2013, are not being disclosed.
Indigo Partners and its principals, led by managing partner William Franke, have considerable experience in airline-related investments.
“Today is an exciting day for Frontier Airlines and Indigo Partners, as we can now embark on a new chapter in Frontier’s history of providing safe, reliable and fairly priced air service,” says Franke. “As air travel costs have moved higher, demand has grown for
Private equity firm Centre Partners has completed the acquisition of Captain D's.
The firm’s existing senior management team will own a significant stake in the business and continue to serve in their current roles.
Captain D's, based in Nashville, Tennessee, operates a chain of 521 seafood-themed fast-casual restaurants in 26 states.
Bruce Pollack, managing partner of Centre Partners, says: "We're excited to invest in Captain D's and to partner with Phil Greifeld and his executive team. Captain D's differentiated menu of high quality seafood products at a value price point clearly distinguishes it from its competitors and the
CyberCoders, a portfolio company of Riordan Lewis & Haden Equity Partners (RLH), is to be acquired by On Assignment.
CyberCoders is a recruiting firm which combines personalised service and proprietary software to provide superior client outcomes.
CyberCoders specialises in permanent placement of mid to senior-level professionals with experience in fields such as IT, engineering, healthcare and life science, using unique systems that quickly identify the best-qualified and best-fitting candidates for clients.
On Assignment is a provider of in-demand, skilled professionals for temporary, contract-to-hire, and direct hire assignments in the growing IT, healthcare, and life sciences sectors.
Thoma Bravo has sold portfolio company Digital Insight, a provider of digital banking capabilities to financial institutions, to NCR Corporation for USD1.65bn.
The sale is expected to close in Q1 2014.
“Thoma Bravo was able to establish Digital Insight as a standalone company following our acquisition from Intuit in August, while also offering Intuit a successful and efficient outcome,” says Thoma Bravo managing partner Orlando Bravo. “Digital Insight has attracted interest from NCR with its strong set of online and mobile banking products, rich client list, and accomplished employees.”
“Thoma Bravo was an experienced and trusted partner during
Water Street Healthcare Partners has sold Massachusetts-based Medical Specialties Distributors (MSD) to New Mountain Capital.
Water Street partnered with MSD’s management team in 2010 to build the company into a leading distributor and solutions provider to the growing alternate-site home infusion therapy market.
MSD has achieved strong double-digit growth annually since Water Street invested in the company. Working with management, Water Street developed and executed a strategic plan that expanded MSD’s capabilities and extended its offering into new markets as demand for intravenous (IV) therapy in the home increased. In June 2013, MSD acquired Medical Technology Resources (MTR) to
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