Deals
A marked improvement in the availability of debt financing for mid-market private equity deals has seen PE deal values rise to their highest level in a year, according to BDO’s latest Private Company Price Index/Private Equity Price Index (PCPI/PEPI).
The index, which compares the EV/EBITDA ratios being paid on the sale of private companies to trade (PCPI) and private equity (PEPI) buyers, showed a quarter-on-quarter jump of 36 per cent on the values paid for private equity deals – up to 10.5 in Q2 2013, from 7.7 in Q1 2013 – and marking the end of a decline that had
Investec Growth & Acquisition Finance has provided follow-on financing to existing client 2M Group, owner of chemicals distribution businesses Surfachem and Banner Chemicals, to fund its recent acquisition of INEOS ChlorVinyls’ packed chlorine business.
In March 2012, Investec backed 2M’s chairman Mottie Kessler on the buy-out of the business from its co-founder Ieuan Thomas. This was followed in July 2012 by the acquisition of Northampton-based KMZ Chemicals, which augmented the business’ specialty chemicals product offering.
The INEOS Acquisition is Investec’s third deal with 2M and marks the business’ entry into the industrial gas distribution sector, servicing the UK
Equistone Partners Europe has acquired Karl Eugen Fischer Beteiligungs, a portfolio company of Equita.
Equita was advised by Baird, a mid-market investment bank.
Based in Burgkunstadt, Germany, Karl Eugen Fischer specialises in tyre cord cutting machinery.
Equita is an independent, non-bank-affiliated investment company based in Bad Homburg, which invests in mid-sized companies in the German-speaking countries.
Equistone Partners Europe is an independent investment firm that operates across France, Germany, Switzerland and the UK.
Mandarin Capital Partners has sold its portfolio company Gasket International to Hutchinson.
Mandarin was advised by Baird, a mid-market investment bank.
Italy-based Gasket International is a designer and manufacturer of premium quality valve sealing solutions for critical applications in the oil and gas industry. With two facilities in Italy and one in China, Gasket serves over 200 valve OEMs across the globe.
Private equity firm Mandarin Capital Partners invests in small and medium sized businesses in Italy and China.
France-based Hutchinson is a global, diversified manufacturer of thermoplastic elastomer and rubber solutions serving the aerospace, automotive,
Terra Firma has reached an agreement to sell 100 per cent of Carmel Capital II, including its wholly owned subsidiary Phoenix Natural Gas Limited, to Hastings’ managed fund Utilities Trust of Australia (UTA) and The Royal Bank of Scotland Group Pension Fund (RBSGPF).
Hastings manages an unlisted infrastructure mandate for RBSGPF.
Phoenix is Northern Ireland’s largest natural gas distribution and energy services company. Phoenix Natural Gas owns and operates the Greater Belfast natural gas network and is responsible for making gas available to around half the population of Northern Ireland.
Guy Hands, chairman of Terra Firma, says:
NTT Communications, Arkadin International and AXA Private Equity have entered into exclusive negotiations over NTT Com’s acquisition of a majority stake in Arkadin.
The agreement will be implemented after the necessary notification and consultation with the relevant works council. The management of Arkadin will reinvest alongside NTT Com. The agreement remains subject to the authorisation of the antitrust authorities.
Arkadin offers a wide range of conference-related solutions covering audio, web, video conferencing and unified communications services. It serves approximately 37,000 customers in 32 countries, including France, Germany, the UK, US, Australia, China, Singapore and Japan. The company was
Atlanta-based AHC Media has been acquired by local industry executives and Lone Peak Capital Group.
David R Fournier, the new chief executive of AHC Media, has a long history in the technology and publishing industries. Brand director Beth Schilling has over 25 years’ experience in pharmaceutical and healthcare sales and marketing.
Lone Peak Capital Group, located in Atlanta and founded by Ana Kolar, Brian Simmons, and Kyle Tomlin, is a private investments firm that also provides corporate financial solutions.
In 1974, Leslie C Norins started American Health Consultants (AHC) in Atlanta, growing the medical publishing company to one
Grosvenor Capital Management, one of the world’s largest discretionary allocators to hedge funds, is to acquire the Customized Fund Investment Group (CFIG), a private equity, infrastructure and real estate investment management company, from Credit Suisse Group.
CFIG is one of the largest providers of customised private equity solutions globally with approximately USD18bn of assets under management and 11 offices around the world.
Following the completion of the transaction, CFIG will be renamed the GCM Customized Fund Investment Group. Terms of the transaction were not disclosed.
"This transaction makes each firm a more valuable partner for existing
Investcorp has agreed to acquire Tyrrells Potato Crisps, the manufacturer of premium crisps and snacks, from Langholm Capital for GBP100m.
Founded at Tyrrells Court Farm, Herefordshire, in 2002, Tyrrells is recognised for its tasty hand cooked potato and vegetable crisps as well as a range of premium snacks, including popcorn and savoury nibbles. Available across an array of UK distribution channels, Tyrrells has also expanded internationally, with markets such as Germany, France, the Netherlands and North America today accounting for approximately 20 per cent of group turnover. The company employs 270 people and generates in excess of GBP100m in
HgCapital, the European sector focused private equity investor, has acquired Nair & Co.
Nair & Co provides a tailored solution for fast growing companies that are looking to expand into international markets, but do not have the technical or administrative expertise to do so. Nair & Co sets up the required international entities and integrates legal, accounting, payroll, tax and human resources services to ease the process of international expansion.
Nair & Co is headquartered in Bristol, UK, with 450 employees based in offices in India, the US, Singapore, Japan and China.
HgCapital’s services team has previously
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