Deals
LINC Scotland members invested GBP13.76m into Scottish early-stage companies in 2012 – a 13 per cent increase in investment on the previous year.
Figures published by LINC Scotland, the national association for business angels in Scotland, show that the amount invested in new companies increased by 54 per cent last year, its members and other private investors completed 82 investments (up five per cent), and helped 59 companies (also up five per cent). Of these over a third were new to the portfolio, up from less than a quarter in 2011.
Although the total value of investment raised was
HYCOR Biomedical, Inc (HYCOR), a leading manufacturer and marketer of in vitro diagnostic products for the global allergy and autoimmune markets, has sold its urinalysis business to an affiliate of One Rock Capital Partners, Laurel Crown Partners, and StoneCreek Capital. The sale includes the KOVA® system of urinalysis products. HYCOR is a portfolio company of Linden Capital Partners (Linden).
“The divestiture of the urinalysis business represents an important step in our growth strategy for HYCOR and allows us to focus exclusively on the growing, global allergy and autoimmune sectors of in vitro diagnostics,” says Richard Novak, Chairman of HYCOR’s Board of
Osprey Capital, the venture capital firm, has exited its first investment following the sale of Allium Capital, with a return of 11.9x capital for investors. The investment in Allium Capital, a specialist advisory firm which creates and distributes retail financial services products, was made four years ago.
During this time the firm has grown assets to over GBP400m with the sale generating significant returns for investors.
Ronan Kearney (pictured), chairman, Osprey Capital, says: “Allium Capital was an excellent investment for Osprey Capital and has shown significant growth in the past four years. It is pleasing to see such a strong
NBGI Private Equity, investor in Aberdeen-based ATR Group, has acquired the Aberdeen and Norway operations of Cosalt Offshore.
This will bring together Cosalt’s technical leadership in offshore lifting, combined with its offshore inspection, testing and safety service with ATR’s global equipment rental service offering to the offshore maintenance sector.
The deal will stabilise the Cosalt business, which has been through a difficult period in recent years, safeguard jobs and provide funding to capitalise on international growth opportunities.
ATR chief executive Keith Moorhouse will lead the enlarged group. “This deal will be welcomed by Cosalt’s staff, customers and suppliers as an
The Investcorp Gulf Opportunity Fund is to acquire a controlling stake in Hydrasun, an international provider of fluid control equipment and solutions for the global offshore oil and gas sector, from Equistone Partners Europe.
The value of the transaction has not been disclosed.
Founded in 1976 in Aberdeen, Scotland, Hydrasun has international operational bases in the UK, Middle East, the Netherlands, Caspian Sea, Brazil, West Africa and the Gulf Coast of the US.
Hydrasun is specifically engaged in the integration, manufacture and testing of hydraulic equipment and fluid connectors for the offshore oil and gas sector. Its products
Accel-KKR, a technology-focused private equity investment firm, is to acquire Sage Nonprofit Solutions, a provider of accounting, donor and fundraising management, and grant management software solutions to non-profit organisations, from The Sage Group.
Accel-KKR also announced that it is making a minority investment in Swiftpage, a digital marketing platform provider for the small business market, to help fund Swiftpage’s acquisition of Sage’s ACT! contact management and Sage SalesLogix customer relationship management (CRM) businesses.
In the first transaction, Accel-KKR will acquire 100 per cent of Austin, Texas-based Sage Nonprofit Solutions, which helps more than 32,000 not-for-profit organisations, including government entities, universities,
KKR has acquired three solar photovoltaic (PV) energy projects, SSM Solar, from an affiliate of Starwood Energy Group.
Terms of the transaction have not been disclosed.
Located in Sault Ste Marie, Ontario, SSM Solar has a total capacity of 69MWdc and 60MWac, representing one of the largest PV facilities in North America and the second largest in Canada. SSM Solar is fully contracted to sell its energy output to the Ontario Power Authority (OPA) under 20-year power purchase agreements entered under the authority’s Renewable Energy Standard Offer Program (RESOP). SSM Solar powers approximately 7,000 households.
“Ontario has been at the
Aberdeen Asset Management is to acquire a 50.1 per cent stake in SVG Advisers (SVGA) for a cash consideration of GBP17.5m.
This business will be combined with Aberdeen’s existing private equity capability to create a substantial private equity fund of funds business with almost GBP5bn in assets under management
The transaction is consistent with Aberdeen’s stated strategy of acquiring smaller businesses to enhance and accelerate the group’s own organic growth.
SVGA is a wholly owned subsidiary of SVG Capital (SVGC), an international private equity investor and fund management business listed on the London Stock Exchange.
SVGA is an established private
HJ Heinz Company is to be acquired by an investment consortium comprised of Berkshire Hathaway and 3G Capital.
Heinz shareholders will receive USD72.50 in cash for each share of common stock they own, in a transaction valued at USD28bn, including the assumption of Heinz’s outstanding debt.
The per share price represents a 20 per cent premium to Heinz’s closing share price of USD60.48 on 13 February, a 19 per cent premium to Heinz’s all-time high share price, a 23 per cent premium to the 90-day average Heinz share price and a 30 per cent premium to the one-year average share
The aggregate value of technology mergers and acquisitions (M&A) declined 35 per cent worldwide in 2012 to USD114.1bn from USD175.7bn in 2011, according to Ernst & Young’s Global technology M&A update.
Deal value in 4Q2012 was USD29.4bn, down four per cent year over year (YOY) from USD30.5bn in 4Q 2011.
Nearly the entire full-year decline came from deals above USD1bn in value. For example, the largest deal of 2012 would have placed fifth in 2011 and only two 2012 deals would have made it onto the 2011 top 10 list. Companies were hesitant to engage in large, transformative, technology deals
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