Deals
Intralinks’ Q3 2013 Deal Flow Indicator (DFI) predicts an 18 per cent increase in year-over-year early-stage global M&A activity in early 2014, with particularly strong performance in Europe, Middle East and Africa (EMEA) and Latin America.
With overall deal flow only slightly below the record level seen in the previous report, indications are there is a sustained recovery underway in the global M&A market.
“We expect the growth in global M&A activity to continue unabated into 2014,” says Matt Porzio, vice president, M&A strategy and product marketing at Intralinks. “The DFI data indicates year-over-year growth in all geographies,
Electra Partners has agreed to sell its interest in feminine hygiene brand Lil-lets Group to Premier Foods, a South African manufacturer and distributor of fast moving consumer goods.
The transaction is subject to regulatory approvals in South Africa.
Allowing for the process of applying for regulatory approvals, on completion Electra Private Equity will receive gross proceeds of GBP37m. Based on the 31 March 2013 valuation of Lil-lets, this level of proceeds would imply a reduction in Electra's diluted NAV per share of 12p. This is explained by a weakening currency in South Africa.
Lil-lets is a branded
Amundi’s acquisition of Smith Breeden Associates has been finalised following completion of the customary conditions of informing regulatory authorities and gaining approval from certain clients and shareholders.
Smith Breeden Associates is now Amundi Smith Breeden.
Paris, France-based Amundi is a European asset management firm with close to EUR750bn in assets. Amundi Smith Breeden is the North American investment headquarters for Amundi.
The creation of Amundi Smith Breeden, a fully-owned and controlled subsidiary within Amundi’s fixed income organisation, is a significant step toward Amundi’s goal of creating a global fixed income platform with established regional expertise.
There
Belltown Alpha Renewables has completed the acquisition of a 10.2MWp solar project in Somerset and a 500kW wind project in Wales.
Belltown Alpha Renewables was formed in May 2013 as a joint venture between Belltown Power and Alpha Real Capital, which has committed an initial GBP50m to fund the acquisition and construction of 30MW of wind, solar PV, hydro and biomass assets in the UK.
“We are very pleased to have completed our first two transactions ahead of our business plan,” says Belltown Power chief executive Michael Kaplan. “The opportunity to build small and medium scale renewable energy
Private equity firm GTCR is to sell its portfolio company Six3 Systems to CACI International, a provider of information solutions and services to government customers, for USD820m.
Headquartered in McLean, Virginia, Six3 is a high-end national security and defence intelligence services provider focused on developing and acquiring specialised capabilities that cater to the intelligence community, Department of Defense and civilian security agencies.
Six3 was formed in July 2009 by industry veteran Bob Coleman in partnership with GTCR. Through a series of four acquisitions, Six3 has established a strong presence in the areas of intelligence surveillance and reconnaissance, intelligence
Tenex Capital Management, a New York based private equity firm focused on middle market investments, is to acquire the machinery and tools business of Walter Meier of Switzerland.
Walter Meier Tools is a manufacturer and marketer of industrial and wood working machinery and equipment under the JET, Wilton and Powermatic brands. The company has operations in seven countries and sells in over 30 markets worldwide.
The transaction is expected to close by 31 October 2013.
Michael Green, chief executive of Tenex Capital Management, says: “In Walter Meier Tools, we have acquired a strong company with great brands
Versartis has completed a USD20m series D financing led by new investor Sofinnova Ventures.
Existing investors Advent Venture Partners’ Advent Life Sciences fund, Aisling Capital, Amunix Operating, Index Ventures and New Leaf Venture Partners all participated in this round.
As a result of its investment, general partner Srinivas Akkaraju will represent Sofinnova on the Versartis board of directors.
The proceeds from this financing will primarily be used to prepare for an international Phase 3 paediatric trial of VRS-317, the company’s proprietary long-acting recombinant human growth hormone (rhGH) for the treatment of growth hormone deficiency (GHD).
This
Ardian (formerly AXA Private Equity) is teaming up with Laboratoires Anios chief executive Bertrand Letartre and deputy chief executive Thierry Letartre to acquire a majority stake in the business from Air Liquide.
Laboratoires Anios is one of the European leaders in disinfection solutions for hospitals and clinics. The transaction reflects Ardian’s willingness to support Bertrand and Thierry Letartre in their growth strategy for the business.
The proposed transaction remains subject to the signing of a definitive agreement and approvals by the French antitrust authorities and the works council bodies of Laboratoires Anios.
Based in the outskirts of
ODSA Topco, a company backed by funds advised by Apax Partners, is to acquire product development services firm GlobalLogic.
The agreement will further enable GlobalLogic to deliver design and engineering solutions to companies worldwide, and continue as a leading provider of software R&D services. Terms of the agreement have not been disclosed.
Under the terms of the transaction, the GlobalLogic business will be acquired by ODSA. The transaction is subject to customary closing conditions and is expected to be completed before the end of 2013.
"Over the past decade, we have built GlobalLogic into a 6,600 person-strong
AUA Private Equity Partners, a lower middle-market private equity firm investing in US Hispanic-oriented and/or family-owned businesses, has recapitalised Associated Foods Holdings.
In excess of 30 per cent of invested capital has been distributed back to investors within 10 months of the firm’s original investment.
AUA Equity acquired Associated in December 2012, partnering with the existing owners Harry Laufer and Ira Gober. Since AUA’s investment, AUA has accelerated the company’s growth by adding new stores to its network, creating a distribution partnership with UNFI, bolstering the management team and increasing the company’s note portfolio to existing and new
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