Deals
Private equity fund Brynwood Partners VI has sold its portfolio company, Balance Bar Company, to NBTY, a specialist in vitamins, supplements and active nutrition products and a portfolio company of The Carlyle Group.
Balance Bar, founded in 1992 and acquired by Brynwood VI from Kraft Foods in 2009, has been an innovator in the nutrition/energy bar category.
The company, which is headquartered in Valhalla, New York, is one of the leading brands in the high growth USD1bn nutrition/energy bar category.
"We are delighted to announce the divestiture of Balance Bar, which was our first investment in our most recent fund,
Platte River Equity has acquired The WellMark Company, an Oklahoma-based manufacturer of liquid and pneumatic flow controls and valves serving the oil and gas and petrochemical industries.
"We are pleased about WellMark’s new partnership with Platte River Equity," says Dick Pfieffer, co-founder of the company. "The additional capital along with the significant operating and financial experience of the Platte River team creates exciting opportunities for WellMark as we remain focused on building quality products and maintaining the highest level of service for our customers."
Platte River principal Mark Brown says: "The significant development of unconventional resources in North America has
Monomoy Capital Partners, a New York private equity fund focused on value investing and business improvement, has acquired the assets of MPI from Revstone Industries.
Monomoy acquired MPI through its second fund vehicle, Monomoy Capital Partners II. Terms of the transaction were not disclosed.
MPI is a North American manufacturer of high-precision, fineblanked metal components for powertrain systems, hydraulic systems and other safety-critical automotive and industrial applications. Fineblanking is a dual-press stamping process for cutting, shaping and machining of highly engineered metal components that produces parts with uniform flatness, dimensional accuracy, and near-net finish. The process is ideal for manufacturing
Innova Capital, a Central European private equity fund, and the European Bank for Reconstruction and Development (EBRD) are investing in EnergoBit Group, an electrical engineering services company in Romania.
Innova Capital, a Central European private equity fund, and the European Bank for Reconstruction and Development (EBRD) are investing in EnergoBit Group, an electrical engineering services company in Romania.
Innova Capital, a Central European private equity fund, and the European Bank for Reconstruction and Development (EBRD) are investing in EnergoBit Group, an electrical engineering services company in Romania.
Innova Capital, a Central European private equity fund, and the European Bank for
Buy and build add-on activity in Europe has been even weaker than the subdued levels seen in H1 2012, and well below the same quarter in 2011, according to Silverfleet Capital and mergermarket’s Buy & Build Monitor for Q3 2012.
The volume of buy and build activity in Europe in Q3 2012 was slightly below the level seen in H1 2012, with only 50 add-ons completed in the quarter, compared with 142 add-ons in H1 2012 and 85 add-ons in the same quarter last year. This represents one of the weakest quarters since the nadir in mid-2009.
The average disclosed
Following its investment in December 2011, MMC Ventures has led another GBP800,000 round of investment into Love Home Swap, the international holiday home exchange website founded by serial entrepreneur Debbie Wosskow.
Love Home Swap has appointed David Kelly as chairman (Amazon, Lastminute, eBay, mydeco, Rackspace) and Sean Cornwell (Google, eHarmony) as non-executive director.
Love Home Swap launched in 2011 to provide members with the opportunity to swap their homes with stylish residences across more than 100 countries – enabling people to holiday like a local by staying in inspiring homes around the world for free. Whether a Parisian loft
Claranet, a European managed service provider, has acquired Star, a UK provider of managed technology services.
The acquisition creates the largest mid-market provider of integrated hosting and network services in the UK and continental Europe.
Claranet is acquiring STH and its subsidiary, Star Technology Services, in a deal valued at GBP55m.
The trading entities will be maintained and will become wholly owned by Claranet.
Charles Nasser, chief executive and founder of the Claranet Group, says: “From a market and customer perspective, this is a great opportunity to bring together the experience and resources of two great companies to deliver a
Kohlberg Kravis Roberts is to acquire speciality insurance brokerage firm Alliant Insurance Services from Blackstone.
Terms of the transaction have not been disclosed.
Tom Corbett, chairman and chief executive of Alliant, says: “This transaction marks the next phase of Alliant’s growth and offers us an exciting opportunity to continue to build the business and offer best in class products and services to our clients. We are pleased to be partnering with KKR and appreciate the positive role that private capital can play in helping us manage our business and execute a growth strategy. This transaction will enable Alliant to remain
In spite of the difficult macroeconomic climate – hampered by the European and American debt crises – Australian private equity and venture capital transaction value and volume remained consistent in 2012, according to the fourth annual AVCAL/Pacific Strategy Deal Metrics survey.
Respondents to the survey, which covers AUD77.7bn worth of transactions conducted by 170 funds between FY06-FY12, are confident that the deal pipeline in FY12 has improved on FY11, driven by increased succession pressures and converging price expectations.
Market caution though, saw assets exchange for slightly lower multiples in FY12. However, a common theme emerging from the surveys was that
Hogan Lovells has advised Hay Tor Capital on its acquisition of a majority shareholding in Neonet from Nordic Capital Fund VII.
The transaction was announced on 16 November 2012.
Neonet is a Swedish independent brokerage/execution service provider at the forefront of electronic trading. Hay Tor Capital is a specialist financial services investor.
A consortium of KAS BANK and Neonet’s management also acquired minority interests in Neonet.
The Hogan Lovells team advising Hay Tor Capital was led by London private equity partner Philip Watkins (pictured), supported by associate Victoria Rodley.
Watkins says: We are pleased to have advised Hay Tor Capital
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