Deals
EMIS Group has conditionally agreed to acquire Ascribe Group, a software and IT services provider to the UK’s secondary healthcare market, from ECI Partners and certain other vendors for an initial enterprise value of GBP57.5m.
Ascribe was taken private by ECI from the AIM market in January 2009 in a GBP33m public to private transaction. This deal provides an initial consideration of GBP57.5m with further monies due contingent on short term performance. From the initial cash consideration alone, ECI has yielded a 2.1x return on its investment.
As part of this transaction, Numis Securities has placed 4,400,000 new
The Russian Direct Investment Fund (RDIF) and Abu-Dhabi’s department of finance have created a partnership for investing in Russian infrastructure projects and developing cross-border investment cooperation between the countries.
Under the agreement Abu-Dhabi’s department of finance will invest up to USD5bn in the partnership.
When implementing investments, the parties will be guided by the principle of obtaining the attractive returns on invested capital.
It is expected that partnership will officially be formed by the end of 2013.
Kirill Dmitriev, chief executive, RDIF, says: “We are pleased to welcome our partners from Abu Dhabi’s department of finance.
Confluence, a provider of data management solutions, has acquired Data Agent, a provider of alternative investment industry data management and reporting solutions.
Already a provider of Form PF and Form CPO-PQR reporting solutions, Data Agent brings the experience and expertise to position Confluence to provide a data management and automated solution to solve the complex regulatory reporting demands of the Alternative Investment Management Fund Directive (AIFMD).
Confluence made the announcement as the company debuts its Unity NXT AIFMD Transparency Reporting solution at the ALFI Global Distribution Conference 2013 in Luxembourg.
Like Confluence, Data Agent delivers value to
EMW, the commercial law firm, has advised Whitworths senior management on the offer to them to subscribe for employee shareholder shares.
EMW says that the deal is believed to be one of the first deals to take advantage of the new employee shareholder status which became available from 1 September.
Under the terms of the deal, the senior management team are being offered equity in Whitworths, which will (subject to certain conditions being met) be exempt from capital gains tax, making the shares more attractive to employees.
Ian Morris, the EMW principal who led the deal for
Nova Capital has acquired a portfolio of businesses within Newell Rubbermaid’s hardware group in North America for USD214m.
The acquisition was announced on 9 August and includes five home improvement and hardware brands: Amerock, Ashland, Bulldog, Drapery Hardware and Shur-Line.
The acquisition was funded through a newly established fund with equity provided by its limited partners, including Nova and secondary funds managed by HarbourVest Partners and Landmark Partners.
“Nova is committed to targeted investment in these businesses to drive future growth. Our proven track record of combining operational and financial expertise is well established and has consistently
DW Healthcare Partners (DWHP), a healthcare-focused private equity firm with offices in Toronto, Ontario and Park City, Utah, has sold portfolio company St Andrews Acquisitions.
St Andrews has been sold to Bregal Partners, a private investment firm that operates as the investment arm for Cofra Holding, a European family holding company. Cain Brothers was retained by St. Andrews to lead the sale process.
St Andrews provides community-based residential and behavioural services and support to adults and children with intellectual and developmental disabilities. DWHP purchased a majority interest in St Andrews six years ago. Through a strategic growth and
Black Diamond Capital Management has acquired TFL, a provider of specialty chemicals for the leather industry.
TFL is the only company providing a full range of solutions to its customers covering every step of the leather production process.
"This transaction allows us to move forward seamlessly to continue to offer our customers first-rate products, solutions and technical support, while at the same time providing us with the opportunity to become the preferred supplier," says Eugen Katzenstein, co-chief executive of TFL. "It also allows us to continue to bring to market new ideas and innovative concepts with our extensive
Calastone, the independent cross-border transaction network for the global funds industry, has secured a USD18m round of investment led by Accel Partners with participation from existing investor Octopus Investments.
The investment will be used to accelerate the company’s global growth strategy, with a focus on Asia Pacific and Europe, in addition to expanding its product range.
Calastone was launched in 2007 with the primary objective of significantly reducing the cost and risks associated with mutual fund transaction processing. Calastone’s approach to introducing interoperability for the industry has been to build out a global network, complemented by a wide
Space‐Time Insight, a provider of situational intelligence solutions, has raised USD20m in series C financing to drive the company’s continued expansion in the US and international markets.
London-based private equity fund Zouk Capital joins current investors Opus Capital Ventures, EnerTech Capital, and Novus Energy Partners in this round of financing.
“To make critical decisions, companies worldwide need to analyse huge volumes of data residing in numerous silos across their IT and operational infrastructures in real-time,” says Space-Time Insight chief executive Rob Schilling. “The series C financing enables Space-Time Insight to extend the reach of situational intelligence, fulfilling the needs of those businesses and
Clearlake Capital Group has completed the acquisition of Futuris Automotive from Elders Limited.
The transaction was first announced on 31 July 2013. Clearlake operating advisor and automotive industry veteran Mervin Dunn has joined the Futuris board of directors as co-chairman.
Established in 1967, Futuris Automotive designs, engineers and manufactures seating and interior systems for leading global OEMs. Key automotive solutions include seating systems and hardware, interior products such as door trims, headliners, and floor carpets, and various aftermarket services. Futuris has design and engineering centres in Australia, China and the US and manufacturing facilities in Australia, China, Thailand
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