Deals
Nordstjernan is to sell 100 per cent of the shares in KMT Group to American Industrial Partners (AIP).
KMT designs and manufactures products using ultrahigh-pressure (UHP) pump technology in industrial manufacturing, surface preparation, and food processing applications.
Headquartered in Baxter Springs, Kansas, KMT has more than 400 employees and a turnover of approximately USD160m. Its products are available in more than 60 countries and are manufactured at facilities in the US, Sweden and China.
AIP will acquire KMT for an enterprise value of USD147.5m, representing a 6.4x multiple of adjusted 2012 EBITDA.
Tomas Billing, chief executive
Ernst & Young’s global technology update for the second quarter of 2013 shows a mixed picture, with private equity (PE) deal-making soaring while corporate deal-making continued a three-quarter-long slide.
At USD33.4bn, the aggregate value of all disclosed-value deals is essentially flat year-over-year (YOY) and down eight per cent sequentially from Q113. Deal volume in Q213 fell to the lowest level since 2010 with 627 deals, down 14 per cent YOY and five per cent sequentially.
In contrast, PE volume increased for the second consecutive quarter, up 10 per cent YOY and 24 per cent sequentially. PE’s aggregate value
Grant Thornton UK advised on eight private equity mid-market deals last month, accounting for just under a quarter of the 35 investments completed in the mid-market.
The deals Grant Thornton advised on were completed across six industries.
Mo Merali, head of private equity at Grant Thornton UK, ays: “We are seeing increased activity in mid-market M&A during what is normally a quiet time of year for investment. An increase in market confidence across the board has helped and it’s encouraging to see that the mid-market is benefiting from this and continues to be the most active area of
Independent debt advisory firm Tomorrow Partners has signed three transactions over a busy summer period, following the recent launch of its high yield advisory service.
The firm advised Lion Capital and its portfolio company HEMA, the Dutch retailer, on a successful “amend and extend” of circa EUR900m of senior, second lien, mezzanine and PIK facilities which closed on 1 August 2013.
The HEMA deal followed Tomorrow Partners advising HSS, a hire services company backed by Exponent, on raising add-on financing for its acquisition of the UK platforms business of Haulotte Group, which closed on 30 June.
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Private equity firm Wynnchurch Capital has acquired Imperial Group from Accuride Corporation, in partnership with BMO Mezzanine Fund and a management team led by chief executive officer Terry Wogan.
Imperial is a metal fabricator supplying light and medium gauge fabricated metal components, precision metal stampings, and value-added assemblies serving heavy truck, bus, and industrial OEMs. Imperial has operations in Portland, Tennessee, Decatur, Texas, Denton, Texas, Dublin, Virginia, and Chehalis, Washington.
“Imperial has built an impressive franchise in the metal fabrication industry and is well positioned to take advantage of the anticipated recovery in its end markets. Our goal
Halyard Capital, a New York-based private equity fund, has sold its portfolio company Engauge Marketing to Publicis Groupe, the marketing services holding company.
Financial terms have not been disclosed.
Engauge is a digital advertising services agency in the US. Engauge was founded by Halyard Capital in partnership with the legendary marketing executive Stan Rapp, with the goal of bringing together innovative, best-of-breed marketing capabilities under one unified brand.
Launched in 2007, Engauge was formed through the union of Ten United, a Columbus, Ohio-based advertising agency with offices in Pittsburgh and Orlando; Spunlogic, a digital marketing services company
Lyceum Capital has led the acquisition of vehicle tracking and fleet management software provider Isotrak from Saints Chamonix Private Equity to accelerate the company’s UK and North American expansion strategies.
Investing alongside the existing management team Lyceum has taken a majority share in the business, which recently won contracts with a number of leading retailers in North America to add to its blue chip UK customer base.
Established in 1999, Isotrak provides vehicle tracking and fleet management software to enable businesses that operate large fleets of heavy goods vehicles (HGVs) and light commercial vehicles (LCVs) to reduce costs,
Wellington Financial, a privately-held specialty finance firm, has provided a USD2m venture debt financing for Salsa Labs of Washington, DC.
Salsa provides an integrated toolset for non-profit organisations to grow and engage their supporter base for their respective causes through online fundraising, advocacy and outreach with an easy-to-use, online organising platform.
"More than 2,000 organisations, including political campaigns, non-profit groups and other associations from small two-person organisations to global institutions are using Salsa’s state-of-the-art platform to manage their online supporters in a more effective manner," says Mark Usher, partner of Wellington Financial. "In addition to their software-as-a-service product,
EQT has invested CHF44m in Swiss dental chain swiss smile based on a partnership agreement with the founders and majority owners Dr Haleh Abivardi and Dr Golnar Abivardi.
The sisters are both dentists and founded swiss smile in 2002. The existing minority shareholders have been bought out with the new funds provided by EQT.
swiss smile operates several clinics in Switzerland and has franchises or joint ventures in UK, Russia and India. The company is the leading quality dental chain in Switzerland with a 28 per cent market share among dental chains. swiss smile also has its own
Change Healthcare has closed its latest round of financing, securing USD15m led by HLM Venture Partners.
New investor Noro-Moseley Partners also participated in the financing round, as did all existing institutional investors – BlueCross BlueShield Venture Partners, Sandbox Industries, Mitsui & Co. Global Investment, Gary and Mary West Health Investment Fund, and Solidus Co.
"There has been a dramatic increase in the nation’s focus on healthcare cost transparency. Today’s consumers not only need access to cost information, but also a means to take greater control of their healthcare," says Doug Ghertner, president and chief executive of Change Healthcare.
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