Deals
Ashburton (Jersey) Limited is to form the international arm of a new asset manager that will become the fourth financial services franchise of FirstRand Limited alongside existing brands FNB, RMB and WesBank.
The new business takes its name from Ashburton, which has a long established track record of providing traditional products in developed and emerging markets, and which will now form part of Ashburton Investments.
These traditional offerings – currently managed on behalf of both international and Southern African investors – will be supplemented by the integration of the investment management businesses of BJM, RMB Private Bank
German Equity Partners III (GEP III), the private equity fund managed by ECM Equity Capital Management, is selling its majority shareholding in KADI, a Swiss producer of frozen food, to the Munich-based private equity company Paragon Partners.
GEP III acquired a majority interest in KADI in July 2008 in the context of an ownership succession. The management team will maintain a significant equity interest in the company and is reinvesting as part of this transaction.
Together with Paragon Partners KADI intends to continue its growth strategy. The parties have agreed not to disclose the purchase price or other
SiteWit Corporation, which automates search engine marketing and website engagements for small businesses, has raised over USD1.5m in new equity capital from investors including Stage 1 Investors.
SiteWit provides small to medium sized businesses with tools that enable them to efficiently market their websites on Google AdWords, Bing Ads and Yahoo, which results in higher conversion ratios of website visitors to customers and sales growth. SiteWit markets its tools exclusively through a cadre of large hosting and software as a service partners who focus website building software and also partners who create marketplaces for the SMB market.
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European private equity firm, Cinven, is to acquire CeramTec from Rockwood Holdings, Inc. (NYSE. ROC) for a total consideration of EUR1.49 billion.
CeramTec is a leading global manufacturer of high performance ceramics for application in medical, automotive, industrial, and electronic end-markets. The Company’s proprietary product portfolio includes hip joint prostheses components, including the Biolox brand; high speed cutting tools; and ballistic ceramics for armour.
In 2012, the Company generated revenues of €425 million. Its main operations are located in Plochingen, Germany and CeramTec employs more than 3,000 people across 18 facilities worldwide.
Building on more than 100 years of innovation,
Private equity (PE) exit numbers dropped in Europe last year to 61 from 2011’s total of 85, according to Myths and challenges – How do private equity investors create value?, Ernst & Young’s annual study of European PE exits.
The report cites a volatile economic climate and low transactions activity as the primary challenges for PE.
However, despite the criticism sometimes levelled at the industry, in aggregate terms PE-owned businesses grew employment by two per cent in 2012. Forty-four per cent of the businesses studied made add-on acquisitions, while only 10 per cent made disposals. Eighty per cent
Eaton Towers, a pan-African tower company, has signed a deal with Telkom Kenya covering its existing portfolio of over 1,000 towers.
The 15-year management and leasing deal is focused on both the maintenance of existing sites and building new sites and extends Eaton Towers’ partnership with the Orange Group following the 2012 deal with Orange Uganda.
Eaton Towers has also completed its third round of equity financing, provided by majority shareholder Capital International Private Equity Fund (CIPEF) and its co-investment limited partners.
Integrated telecommunications services provider Telkom Kenya operates Orange’s mobile and fixed-line telecommunications services in Kenya.
The Gym, a UK operator of low-cost gyms, has secured new investment from Phoenix Equity Partners, a UK middle-market private equity firm, to support its continued expansion.
Bridges Ventures, which has been an investor in The Gym since 2007, retains a substantial shareholding in the business and will also provide further funding. A total of GBP50m of new equity has been committed which will support the further growth of the business.
The Gym will continue to be led by chief executive John Treharne, who founded the business. The Gym currently has over 200,000 members and 36 gyms located across
Sycamore Partners has completed its acquisition of Hot Topic in a transaction is valued at approximately USD600m.
Hot Topic operates more than 800 stores selling clothing, accessories and music to teens.
"Hot Topic and Torrid are both leaders in their categories, and we are excited to have both brands as part of our portfolio," says Stefan Kaluzny, managing director of Sycamore Partners. "Sycamore Partners is very pleased to have the opportunity to partner with Lisa Harper and her team to invest in the continued development of both the Hot Topic and Torrid retail brands."
Lisa Harper, chief
Salvepar has committed to invest USD7m in Latin America Power (LAP), a developer and operator of renewable energy projects in Chile and Peru with a staff of approximately 65 employees.
This investment by the company comes as part of a capital increase in LAP led by LAP existing shareholders, of which P2 – a joint venture between Blackstone-backed Patria Investimentos and Promon, a major player in infrastructure EPC in Brazil – is one.
LAP seeks to benefit from the significant growth and industrialisation of both Chile and Peru, which has created the need for a substantial increase in
RTI Biologics is to acquire privately held Pioneer Surgical Technology, headquartered in Marquette, Michigan.
Pioneer is a medical technology company that manufactures and distributes metal and synthetic products in the orthopedics, biologics, spine, trauma and cardiothoracic markets. The acquisition of Pioneer supports RTI’s initiatives to expand its current implant portfolio into metals and synthetics and to grow direct distribution.
“The combination of RTI and Pioneer is an exciting opportunity for both companies and their employees," says Brian K Hutchison, RTI president and chief executive officer. "This acquisition is strongly aligned with RTI’s long term strategic plan, accelerating new
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12 November, 2026 – 8:00 am
12 November, 2026 – 5:00 pm
