Deals
Equistone Partners Europe has completed the sale of Yorkshire-based glass container manufacturer Allied Glass, which sees CBPE Capital reacquire a former portfolio business.
Equistone’s Fund III supported the management team when it acquired a majority share in 2010 as part of a GBP75m management buyout.
The company, which employs over 660 people across two factory sites in Leeds and Knottingley, is the UK’s fourth largest glass bottle manufacturer by volume and a leader in specialist bottle serving the high-end global spirits industry. Allied specialises in the production of complex bottles and supplies containers to world-leading brands including Johnny Walker,
Paul Hastings advised Astorg Partners in connection with the sale of OGF, a French funeral services company, to funds managed by Pamplona Capital Management, an investment company.
This transaction was the second-largest LBO acquisition in France in 2013.
Astorg Partners is an independent French capital investment firm that manages EUR2bn and invests in manufacturing or service companies, very often family-owned, with high growth potential.
Astorg Partners was also advised by Ashurst and Cravath Swaine & Moore on financing issues.
Pamplona was represented by the Paris and London Offices of Allen & Overy, and the management of OGF, which
Alternative asset manager The Carlyle Group has completed the acquisition of the Red Oak power generation facility located in Sayreville, New Jersey.
The acquisition was executed in conjunction with Cogentrix Energy Power Management, which was acquired by Carlyle funds in late 2012, and brings the total number of power generating facilities acquired since then to 11 with an aggregate enterprise value of more than USD1.2bn. Financial terms were not released.
Robert Mancini, Carlyle managing director and chairman of the board of Cogentrix, says: “This acquisition is a great opportunity to create value for our fund investors by taking advantage
Private equity and alternative asset manager Maven Capital Partners has participated in the GBP55m investment in Global Risk Partners (GRP), led by Penta Capital, providing GBP5m of the funding.
This deal represents another opportunity for Maven client funds to invest in private equity transactions led by Glasgow-based Penta. Maven previously invested as part of a syndicate in the 2010 acquisition of online insurance provider esure, which earlier this year undertook a successful IPO, and the 2011 buy-and-build platform Six Degrees Group.
GRP has been set up by chief executive David Margrett who had a series of senior roles at
Technology dealmakers may be showing a little spring in their step heading into 2014, according to the latest M&A Leaders Survey issued jointly by M&A law firm Morrison & Foerster and technology research firm 451 Research.
In their latest canvass of tech industry insiders, MoFo and 451 Research found participants modestly bullish about the pace of mergers and acquisitions, both in recent months and looking ahead.
Forty per cent said the past six months generated more deal activity than at any point in the past two years, compared with 36 per cent saying the same period produced less M&A
Having emerged from the global recession and its aftermath, the real estate private equity sector is finally positioned for growth in 2014, according to EY’s latest global market outlook.
"Five years on, and following a long recovery, global real estate is now entering a broad up-cycle and, having learned some important lessons during the downturn, private equity funds are heading down a path toward growth. What remains to be seen is if they are in for a brisk morning walk or just a Sunday stroll," says Mark Grinis, EY's global real estate fund services leader.
The strategies being deployed
Private equity firm North Castle Partners is to acquire Jenny Craig, an iconic brand in the weight loss industry, from Nestle.
The terms of the investment, which is expected to close later this month, have not been disclosed.
"We are very excited to bring Jenny Craig into the North Castle family and to continue its 30-year tradition of providing consumers with dedicated one-on-one coaching and great tasting, clinically proven food to support their weight loss goals. As a firm focused exclusively on consumer businesses that promote health, wellness, and active living, we were able to draw upon substantial experience from
Babson Capital Europe has completed a mezzanine investment in Busy Bees, the largest UK nursery chain.
The childcare company has been acquired by Teachers’ Private Capital, the private equity division of Ontario Teachers’ Pension Plan. The total debt package includes a mezzanine facility co-arranged by Babson Capital Europe.
Established in 1983, Midlands-based Busy Bees is the largest children’s nursery daycare provider in the UK. The business has grown both organically and via acquisitions, and currently operates 213 nurseries, where its 7,000 staff look after some 19,500 children on a daily basis.
The management team is led by chief
Credit Suisse is to spin off the DLJ Investment Partners business (DLJIP), including the existing investment team led by Igor DaCosta and Charles Harper, to Portfolio Advisors.
Portfolio Advisors, an independent, employee-owned firm that provides tailored private equity, private credit and real estate investment solutions to both institutional and high net worth clients through separately managed accounts and commingled fund-of-funds programmes, will become the new investment manager of DLJ Investment Partners (DLJIP I), DLJ Investment Partners II (DLJIP II), and DLJ Investment Partners III (DLJIP III).
DaCosta (pictured) and Harper will continue to manage the DLJIP funds and all
Bestinvest, the UK wealth manager and online investment service, is to be acquired by a company owned by the Permira funds for an undisclosed sum.
The transaction, which is subject to regulatory approval, is expected to complete in the first quarter of 2014.
Founded in 1986, Bestinvest is a UK private client investment group that provides a broad range of services for private investors whether they choose to make their own decisions or require investment advice, financial planning and investment management.
The UK wealth management industry offers attractive growth dynamics with assets increasing in excess of 10 per
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