Deals
Water Street Healthcare Partners has sold its outsourced pharmaceutical services company AAIPharma Services to Cambridge Major Laboratories.
AAIPharma and CML have merged to form a provider of integrated chemistry, manufacturing and controls (CMC) services. The transaction marks Water Street’s fourth strategic transaction in the past three weeks.
Water Street acquired AAIPharma in 2009 when it was a division of a global corporation and transitioned it to a standalone company. Together with management, Water Street created and executed a strategic expansion programme that transformed AAIPharma into a leading independent provider of pharmaceutical development services. Over the past two years, AAIPharma
UK-based private equity firm Lonsdale Capital Partners has acquired a majority interest in Oteac Limited, the firm’s third deal in the last 12 months.
Oteac is a provider of integrated fire and safety services, both offshore in the oil and gas sector and onshore in the UK.
The tougher regulatory environment has led to much stricter requirements on the company’s clients for Oteac’s engineering services.
Oteac was acquired by Sandy Brown in 2007 and Bill Hogarty joined in 2009. Both will continue as directors and shareholders in Oteac. Hogarty will continue as CEO of the company and he,
Almost half of M&A executives in Europe expect a rise in transactions over the coming year, with the German-speaking countries remaining the driver of the market.
That is the conclusion of the M&A Outlook study, for which international commercial law firm CMS surveyed 225 representatives of companies, private equity houses and law firms in conjunction with analysis provider Mergermarket.
"The economy is slowly recovering from the financial crisis. This new growth also appears to be giving the M&A market a long-anticipated boost," says Thomas Meyding, CMS partner in Stuttgart and head of the CMS corporate group.
Although European
Clayton, Dubilier & Rice (CD&R) is to acquire John Deere Landscapes (JDL), a unit of Deere & Company's agriculture and turf segment.
Deere will initially retain a 40 per cent ownership stake in the new standalone company. The carve-out transaction is valued at approximately USD465m.
With over USD1bn in annual revenue, JDL is the largest North American distributor of landscaping products sold primarily to professional landscape contractors for use in residential and commercial settings. JDL distributes wholesale irrigation, landscape lighting, nursery, and turf and maintenance supplies. Some turf and maintenance products are sold under the JDL-owned LESCO brand.
KKR has invested in wireless infrastructure businesses managed by Associated Partners.
Under the agreements, KKR has made minority investments in PEG Bandwidth, AP Wireless and AP Towers.
PEG Bandwidth designs, builds and operates Ethernet backhaul networks connecting wireless communications towers to the data fibre backbone, principally in rural geographies. The company’s networks, the need for which is driven by significant increases in wireless data usage, typically replace aging copper lines that connect cell sites to wireless carriers’ core networks.
AP Wireless acquires interests in cell site ground and rooftop leases in the US and internationally.
AP Towers
Mid-market private equity activity in the US improved in the third quarter, according to a report issued by BMO Harris Bank.
Deal activity picked up, particularly in healthcare and software sectors, buoyed by debt markets that are clearly open for business.
"It was a good quarter, punctuated by a fairly vibrant August and September, which are not traditionally the most active months of the year," says Dennis Robleski, group head for BMO Harris Bank's sponsor finance group. “While market activity is up, it's important to keep in mind that this is an improvement from what has been a relatively
Cinven portfolio comapany Host Europe Group has acquired domainfactory for an undisclosed consideration.
domainfactory currently manages 1.1 million domains and serves approximately 173,000 customers – mostly in the small and medium enterprises and private professional market segments.
This transaction follows the recent acquisition by Host Europe Group of Telefónica Germany Online Services, an enterprise managed hosting provider.
Thomas Vollrath, chief executive of Host Europe Group, says: “This is our second acquisition in recent months and is consistent with our strategy of consolidating a highly fragmented hosting market in Europe. Under the leadership of the two founders – Sara
European venture capital fundraising declined from 2Q 2013 and 3Q 2012 both in the number of funds and amount raised, according to DJX VentureSource’s latest Europe venture capital report.
Venture capital investment into European companies experienced a quarter over quarter decline.
Business and financial services and energy and utilities were the only two sectors to register quarter over quarter increases in capital raised.
Exits remain steady as venture-backed merger and acquisition (M&A) activity in Europe improved in 3Q 2013. Initial public offerings (IPOs), however, took a dip.
Record levels of cash on balance sheets and increasing boardroom confidence will fuel M&A growth, according to a report from law firm Hogan Lovells.
Hogan Lovell’s latest Evolution Report examines the conditions required to reignite the global economy, through a survey of 240 board level members at leading global companies. The report shows cautious optimism, coupled with decreasing concern about market weakness and volatility, which could be the catalyst for long-awaited growth.
Global corporates are now holding record levels of cash on their balance sheets, at USD5.6trn, almost double what they held a decade ago. Combined with a global
Management consultancy JMJ Associates has agreed to an equity investment from 3i Group, a London-headquartered international private equity investor.
Following JMJ's recent strong growth, the current shareholders of JMJ decided to seek an investor to support the continuing expansion of its international footprint. 3i will support JMJ's next stage of development by providing operational and strategic expertise, as well as using its international network to identify and support further growth opportunities.
3i focuses on mid-market private equity, infrastructure and debt management. Once invested, 3i will work in partnership with JMJ's management team to accelerate the company's growth plans. 3i
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