Deals
Sub-investment grade corporate credit specialist Alcentra, part of BNY Mellon, has invested in CorpAcq plc, a South Manchester-based company committed to the acquisition and investment in strong asset backed, profitable and cash generative owner-managed enterprises.
Headquartered in Altrincham and founded in 2006, CorpAcq has grown its business to manage eight portfolio companies representing more than GBP70m in revenues in the year ending December 2012.
The warranted loan investment transaction was underwritten by Alcentra and co-arranged with private-debt fund Prefequity. Graeme Delaney-Smith (pictured) and Frédéric Méreau of the European direct lending and mezzanine investments team will represent Alcentra on
Private equity investor Risk Capital Partners has completed its acquisition of a majority holding in Red Hot World Buffet to provide development capital for the restaurant group’s further expansion.
Red Hot World Buffet was founded in 2004 by husband and wife Parmjit and Helen Dhaliwal. It now has seven large restaurants across the UK, employing 600 people with a turnover of GBP22m.
The transaction value has not been disclosed.
The buffet restaurant group, which serves English, Indian, Chinese, Italian, Tex-Mex and Japanese dishes, amongst others, has grown from one small site to having seven restaurants in Northampton,
Private investment firm Bregal Partners has made an investment in OmniForce in partnership with OmniForce’s management team and founder.
Los Angeles-based OmniForce is an athletic event production company. Its services include participant marketing and event publicity, participant training and fundraising support, sponsorship sales, and event planning and logistics.
In 2013, nearly 50,000 people will participate in OmniForce’s events. Such events include two-day bike rides and walks, 10 km runs, and obstacle course challenges.
"We are very pleased to partner with a proven and highly successful management team in expanding OmniForce’s collection of events around the world," says Robert Bergmann,
Private equity fund Estancia Capital Partners has acquired a minority non-controlling interest in Stamford, Connecticut-based Sustainable Growth Advisers (SGA).
SGA is a boutique traditional equity manager focused on providing high value-added active US and global growth equity mandates for sophisticated clients. Terms of the transaction were not disclosed.
Michael Mendez (pictured), partner at Estancia, says: “We were attracted to the ‘institutional quality’ of SGA’s investment team and process. The firm’s distinct culture and history of delivering top peer group relative performance are exceptional. We will continue to support a shared vision of creating an investment firm focused on
A consortium comprised of the Russian Direct Investment Fund (RDIF), the European Bank for Reconstruction and Development (EBRD) and the CapMan Russia II fund has completed an investment in MAYKOR, a Russian IT outsourcing and service provider.
The three partners will invest up to USD100m in MAYKOR that will allow the group to grow its market share. The RDIF will invest USD50m, with the EBRD and the CapMan Russia II fund contributing the remaining part.
The new funds will support MAYKOR’s growth strategy to increase the scale of its operations and its service portfolio diversification inside Russia.
Chiesi Group, a European pharmaceutical company, has signed through its UK affiliate Chiesi Ltd a definitive agreement with Sunstone Capital to acquire Zymenex, a biopharmaceutical group focused on research and development of biologic therapeutics for the treatment of rare and life threatening genetic diseases.
Terms of the transaction have not been disclosed.
The acquisition of Zymenex includes Lamazym, a phase III recombinant enzyme indicated for use to treat patients suffering from alpha-Mannosidosis, as well as other early stage compounds.
Zymenex R&D capabilities will establish a research and development position for Chiesi in the recombinant biologics market for
Aquiline Capital Partners has made an investment, through affiliates, in Tourmalet Advisors, an alternative investment manager based in Fairfield, Connecticut.
Tourmalet, led by chief executive officer Michael Corasaniti, was founded in October 2009 and has a track record of managing, investing, structuring and trading distressed residential mortgage assets. The firm’s objective is to generate superior risk adjusted returns through the purchase, servicing and liquidation of distressed whole loans.
“We have known Mike Corasaniti and his team at Tourmalet for a number of years and have been impressed with their expertise and approach to investing in the residential mortgage
Qualcomm is to sell Omnitracs, its North and Latin American transportation and logistics business, to Vista Equity Partners, a US-based private equity firm.
Subject to the terms and conditions of the definitive agreement, Vista will purchase Omnitracs for USD800m in cash.
"In the late 1980s, Qualcomm pioneered the use of commercial vehicle telematics with the introduction of the first mobile information system for transportation and logistics. As one of Qualcomm’s earliest businesses, Omintracs has maintained a leadership position within the industry for 25 years. Today, the opportunity for fleet management and telematics is evolving rapidly, and we believe
Keating Capital, a pre-IPO investor and business development company, has made an additional USD1m convertible note investment in SilkRoad, an existing portfolio company.
Keating Capital’s investment is part of a USD16m growth financing round completed by SilkRoad.
Other participants in the financing include Foundation Capital, Intel Capital, Azure Capital Partners and Crosslink Ventures.
SilkRoad intends to use the new funding to fuel ongoing product innovation across SilkRoad’s Life Suite talent management software to support company growth.
Chicago-based SilkRoad is a provider of cloud-based human capital management (HCM) solutions to small- and medium-sized businesses (SMBs). SilkRoad’s Life
Private equity firm Thoma Bravo has completed its acquisition of Keynote Systems, a provider of internet and mobile cloud testing and monitoring, for USD20 per share or approximately USD395m.
With the transaction completed, Keynote’s stock will cease trading on the Nasdaq under the ticker symbol KEYN.
Keynote will remain headquartered in San Mateo, California. In addition, retiring chief executive Umang Gupta will transition the CEO role to software and technology industry veteran Jennifer Tejada.
“Jennifer brings a passion for innovation and unparalleled experience to hit the ground running with the tremendous platform that Umang and the Keynote team
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