Deals
US retail and consumer merger and acquisition (M&A) activity in 2012 was primarily driven by corporations spinning off businesses, private equity investment in retail, increased cross border activity and expansion into e-commerce, according to PwC’s US retail and consumer M&A insights 2012 Year in Review and 2013 Outlook report.
The report finds that strong retail and consumer deal activity in 2012 drove both deal volume and value up from the prior year as the number of larger deals over USD1bn almost doubled.
Private equity activity in the retail sector comprised nearly 40 per cent of deal volume and 55 per
The Thames Valley and South Coast corporate finance team of James Cowper has secured the sale of Reading-based Aggregated Telecom for an undisclosed sum.
Acting on behalf of the company’s owner, James Cowper sold 8el to Selection Services, backed by Palatine Private Equity.
Founded in 2001 by Justin Hamilton-Martin, Aggregated Telecom which trades as 8el, is a networking, connectivity, voice and hosted telephony service provider to over 40,000 users across the UK. The sale was agreed and finalised on 23 January. Together the companies will boast revenues of GBP37m and around 400 employees.
The James Cowper team was led by
Private equity firm Parthenon Capital Partners has completed an investment in Envysion, a provider of managed video surveillance as a service (MVaaS) for QSR, retail, wireless, convenience store and cinema customers.
Proceeds from the transaction will be used to provide growth capital for the company and to provide liquidity to certain shareholders.
Envysion is led by chief executive officer Matt Steinfort, who, with his team, has developed a cloud-based MVaaS solution providing powerful video-based business intelligence solutions to numerous retail end-markets.
Steinfort, who co-invested alongside Parthenon in the transaction, says: “Since we first met the Parthenon team over a year
BioClinica, a provider of clinical trial management solutions, has entered into a definitive agreement to be acquired by a holding company controlled by private equity firm JLL Partners.
Simultaneously, JLL Partners has reached a definitive agreement to acquire CoreLab Partners, a provider of medical imaging solutions and cardiac safety services based in Princeton, New Jersey.
Following the proposed acquisitions, BioClinica and CoreLab Partners will be merged to create a provider of medical imaging services and eClinical solutions for clinical trials. Ampersand Capital Partners, which is the majority owner of CoreLab Partners, will also be a significant investor in the combined
Israel Cleantech Ventures (ICV) has held the final closing of its second fund with just above USD74m in commitments.
Having raised its debut fund in 2007, ICV now has approximately USD150m under management.
ICV’s second fund has attracted new limited partners, including institutional investors, multi-national corporations and family offices. Many of its existing LPs also re-upped from the previous fund.
The fund is managed by partners Jack Levy, Meir Ukeles and Glen Schwaber working together with a team of venture partners – all industry veterans – led by Arnon Goldfarb, with nearly two decades of experience at Israel Chemicals and
Omnes Capital (formerly Crédit Agricole Private Equity), via the LCL Régions Développement and CAPE Région Expansion funds, and Odyssée Venture are investing in a management buy-out deal for Nomios, alongside the founding director Sébastien Kher and key employees.
Based in Boulogne Billancourt, Nomios is a specialist integrator in the fields of IT security and the optimisation of company network performance. The company offers a full range of services combining integration and maintenance of IT security systems and audit and consultancy services.
Created in 2004, the company has tripled in size over the last four years, whilst conserving profitability levels
P&P Water Holdings (Greece), an affiliate of Paine & Partners Capital Fund III, has completed the acquisition of majority ownership of Eurodrip, a manufacturer and supplier of drip irrigation solutions.
As part of the investment, which was previously announced in October 2012, Water Holdings purchased all of the shares of Eurodrip currently held by Aquanova International Holdings, a company controlled by Global Capital Investors II, a private equity fund advised exclusively by Global Finance, as well as Bellaria Holding, which together represent approximately 67.5 per cent of the company’s outstanding shares, for a price of EUR1.53 per share.
In addition,
Panoramic Growth Equity’s renewable energy distribution specialist business, Solfex Energy Systems, has been sold to Travis Perkins.
The sale represents the first exit from the Panoramic Enterprise Capital Fund I, which held its final close in September 2010 and was oversubscribed at GBP34m.
The sale has generated an IRR of 62 per cent for Panoramic, in just 16 months since it invested GBP1.25m into the business in September 2011. This return is expected to increase to an IRR of 120 per cent following the earn out period. With Panoramic’s backing Solfex has seen its profitability increase substantially and turnover
Merger and acquisition (M&A) activity in the US oil and gas industry hit a 10-year high during the fourth quarter of 2012 with 75 deals, according to PwC US.
A number of factors drove this activity, including private equity (PE) interest, foreign buyers, shale plays, and companies looking to get deals done before the end of the year with the looming fiscal cliff and proposed tax changes.
In fact, that flurry of fourth quarter activity pushed overall deal volume in 2012 to a 10-year high at 204 transactions (for deals valued at over USD50m), representing USD146.2bn – the second highest
SB Israel Telecom, an affiliate of Saban Capital Group, has closed its purchase of the controlling interest in Partner Communications Company from Scailex Corporation.
Partner, a provider of communications services in Israel, including cellular, internet and fixed telephony, operates the orange and 012 Smile brands in Israel.
The transaction includes the assumption of debt owed by Scailex to Advent Investments, a subsidiary of Hutchison Whampoa.
Haim Saban, chairman and chief executive officer of Saban Capital Group, says: “We have great confidence in the Israeli economy and we are very impressed with the quality of management, entrepreneurial spirit and strength of
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