Deals
Norway and the UK are set to host the concentration of private equity portfolio company exit deals in the European oil and gas sector, as a potential further 24 billion barrels of recoverable oil and gas reputedly remain in the North Sea, says S&P Capital IQ.
Looking at current opportunities to be found in this area, S&P Capital IQ notes that transaction activity remains concentrated at the upstream end of the industry – whose significance continues to grow – and reflects the historic profile of active sellers such as 3i, the private equity and venture capital company.
“In the
BaltCap has signed an investment agreement of EUR1.5m with Latvian cosmetics producer and franchise developer Stenders.
Stenders has 225 franchise stores in 23 countries worldwide. It is particularly strongly represented in China and Russia, with revenues from these markets comprising more than half of the company’s turnover. The product assortment of Stenders includes more than 320 bath, body, face and hair care products.
“Producing innovative high quality articles, Stenders has become one of the strongest brand based businesses in Latvia and is now widely represented in the world. We see large potential for fast development in the markets of
Filtration Group is to acquire Porex Corporation from Los Angeles-based investment firm Aurora Capital Group.
Filtration Group is owned by Chicago-based Madison Capital Partners.
Financial terms of the transaction have not been disclosed.
The combined company will have a robust portfolio of products and technologies that serve a diverse range of end markets, including the food and beverage, healthcare, industrial, mining, micro-electronics, consumer, water and energy industries. Following the transaction close, the combined company will serve customers in over 65 countries.
Founded in 1961 and based in Fairburn, Georgia, Porex specialises in the development and manufacturing of
Rage Frameworks, a managed service provider of business process automation and big data solutions, has partnered with growth private equity firm Kayne Partners.
Headquartered in Westwood, Massachusetts, Rage was founded by serial entrepreneur Venkat Srinivasan (chairman and chief executive) and launched its managed services business in 2006. Rage delivers its software through a technology platform on a subscription basis. The company’s solutions enable large enterprise clients to automate manual business processes and use big data analytics to inform decision making.
“We are proud to have the support of Kayne Partners at this important juncture in Rage’s growth. Our partnership
Private equity firm HIG Capital has completed the sale of its portfolio company PMSI to an affiliate of Kelso & Company and StoneRiver Group.
Simultaneous with the sale, the company will be merged with Progressive Medical to create a provider of customized and clinically-focused solutions to manage pharmacy benefit management (PBM), durable medical equipment, home healthcare, transportation, translation and Medicare compliance solutions for workers’ compensation industry.
After acquiring PMSI in 2008 from AmerisourceBergen, HIG partnered with management to invest significant resources in PMSI to rebuild its infrastructure and transform its service offering.
The transaction adds to HIG’s track
Water Street Healthcare Partners has sold its anatomic pathology company, PLUS Diagnostics, to Miraca Life Sciences.
The deal makes Miraca the largest independent anatomic pathology laboratory company in the US.
Water Street acquired PLUS in 2006 when it was a regional laboratory. It invested its team’s industry expertise and network of resources to transform PLUS into a national leader offering a comprehensive menu of specialty diagnostic testing and consultative services. Working with chief executive David Pauluzzi, Water Street supported PLUS with opening bi-coastal laboratories, introducing innovative new tests and recruiting an experienced team of nationally recognised pathologists. In seven
Private equity firm First Reserve’s Fund XII, in partnership with the existing management team, is to acquire TNT Crane & Rigging from Odyssey Investment Partners.
TNT is a provider of lifting services and equipment to customers in the North American energy and industrial infrastructure end markets.
Financial terms of the transaction have not been disclosed. The transaction is subject to certain regulatory approvals and is expected to close before year-end 2013.
Founded in 1985, TNT operates one of the youngest and, at 439 units, largest mobile crane fleets in the company's served geographies in the Gulf Coast and
CYP Design Ltd (CDL) has completed a seed funding round led by Mercia Fund Management (MFM) under the Seed Enterprise Investment Scheme (SEIS).
CDL is a spin out from the Leicester School of Pharmacy, part of the Faculty of Health and Life Sciences at De Montfort University (DMU). The company was founded to market new technology designed to speed up and reduce the cost of the development of new drugs and medicines.
A leading cancer studies expert at DMU, Professor Bob Chaudhuri, has invented the technology which will provide new products and services, based on a set of proteins,
High Road Capital Partners has completed the acquisition of SMB Machinery Systems, a provider of used packaging and process equipment to the food and beverage industries.
“SMB has grown to become the leading provider of used food and beverage equipment due to the company’s deep product knowledge, comprehensive service offering, and broad inventory,” says Benjamin Schnakenberg, High Road principal. “The company is well positioned to capitalise on the proliferation of specialty beverages in both the US and emerging markets, and bring its know-how and reputation for reliability to new verticals. We look forward to working with SMB’s exceptional management team
The Abraaj Group has acquired a majority stake in Ghana Home Loans (GHL), a provider of residential mortgages in Ghana.
Established in 2006, GHL, headquartered in Accra, has a primary focus on the Ghanaian residential home buyer, offering mortgages for first time buyers, as well as buy to let, equity release, refinance and home completion products. It has also supplemented traditional mortgage lending with consumer education via housing fairs and seminars.
Jacob Kholi, partner at The Abraaj Group, says: “We are pleased to be backing an experienced local management team that has grown GHL into the market leader it
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