Deals
Private equity fund manager Horizon Capital has purchased four per cent of shares of Tinkoff Credit Systems (TCS Bank) for USD40m.
TCS is a credit card company and the first online bank in Russia.
It is controlled 100 per cent by Egidaco Investments.
The funding for this deal comes from Horizon Capital’s Emerging Europe Growth Fund II (EEGF II), which was raised in 2008.
Oleg Tinkov, founder of TCS Bank, says: “We are proud of the business we have built so far. Russia has a very large and growing credit card market, and we are very well positioned to capture
Gulf Oil Corporation, part of the Hinduja Group, has reached an agreement to acquire Houghton International.
Houghton, a supplier of metal working fluids, will join a portfolio of global brands owned by the Hinduja group including Ashok Leyland (truck and bus manufacturing) and Gulf Oil International (production and marketing of gasoline, lubricants, greases and other materials for industrial applications).
The acquisition of Houghton will be made by a UK registered 100 per cent owned subsidiary of Gulf Oil Corporation.
“This is an extremely exciting development and we are delighted to welcome Houghton International and its highly talented and committed staff
ALI Group is to acquire Scotsman Industries from an affiliate of private equity firm Warburg Pincus.
ALI Group is to acquire Scotsman Industries from an affiliate of private equity firm Warburg Pincus.
Terms of the transaction have not been disclosed.
Luciano Berti, ALI Group’s chairman and chief executive officer, says: "We are very pleased to welcome Scotsman into the ALI Group. The Scotsman acquisition is strategically important to our Group as it strengthens our position as leader in the global commercial foodservice equipment industry. Scotsman’s leadership in the ice machine industry opens for the ALI Group new opportunities and adds
ECI, the UK growth focused mid-market private equity firm, has sold healthcare outsourcer Harmoni to CareUK.
Harmoni is a UK provider of outsourced healthcare services including Out of Hours, 111, prisoner healthcare and IT services, providing services to over eight million people in the UK.
Harmoni has grown considerably over recent years with annualised sales growth of 39 per cent (CAGR) since 2008, reaching GBP99m for the year ending 31 March 2012. The company almost tripled its workforce over the same period of time.
Harmoni was a spinout from a former ECI healthcare investment WCI Group, which in
Mid-market private equity firm GI Partners has sold its 75 per cent ownership stake in FlatIron Crossing, a 1.7 million square foot class-A regional mall located in Broomfield, Colorado, to its joint venture partner Macerich.
GI Partners invested in FlatIron Crossing in 2009, acquiring its 75 per cent interest in the mall from Macerich, who remained the operating partner in the venture.
The sale of FlatIron Crossing generated a return of approximately two times invested capital and over a 25 per cent gross internal rate of return to limited partners of GI Partners Fund III.
Developed in 2000 by a
ADP, a provider of human capital management services, is to sell the ADP Taxware business to Vista Equity Partners, a private equity firm focused on investments in software and technology-enabled services.
Terms of the sale have not been disclosed.
ADP Taxware, provider of automated solutions for sales, use and value-added tax compliance, is based in Salem, New Hampshire, and serves more than 1,200 clients.
Vista invests in companies that develop and market enterprise mission-critical software, software-as-a-service, and technology-enabled business services.
Robert F Smith, chairman and chief executive of Vista Equity Partners, says: “We are long-term investors in enterprise application software
August Equity’s portfolio company SecureData Europe has completed the acquisition of Quadrant Networks.
Quadrant provides application delivery and security services to a blue chip customer base including the UK’s leading e-commerce and corporate clients such as Ocado, Rightmove and Easyjet.
It ensures customers’ mission critical applications are operating in a fast, secure and available manner.
Both Paul Risk and Peter Ledger, shareholders in Quadrant, will continue to work within the consolidated group.
SecureData is a specialist IT security provider and is recognised for customer service and the delivery of high quality managed security services either on a customer’s site, in
Wellington Financial has provided a USD2.4m venture debt financing for TIM Group, a SaaS developer of applications serving the financial services industry.
Under the terms of the venture loan facility, Wellington Financial provided a term loan of USD2.4m to TIM Group and Barclays Bank provided an additional GBP500,000 overdraft facility.
"TIM Group generates new revenue for administrators, brokers and other customers. Delivering market-beating analysis to investors, TIM Group is a trusted partner to both investors and service providers," says Craig Netterfield, senior vice president of Wellington Financial. "With significant revenue growth since 2005, TIM Group is a leader in all
Harbinger Group has formed a joint venture with EXCO Resources to create a private oil and gas limited partnership that will purchase and operate EXCO’s US conventional oil and gas assets, for a total consideration of USD725m.
Under the terms of the agreement, the partnership will own EXCO’s conventional oil and natural gas assets in West Texas including and above the Canyon Sand formation as well as in the Danville, Waskom, Holly and Vernon fields in East Texas and North Louisiana.
The more than 520 billion cubic feet equivalent (Bcfe) of estimated proved reserves are approximately 82 per cent proved
Investcorp, a provider and manager of alternative investment products, is to acquire Scandinavia’s luxury retailer Georg Jensen for USD140m from private equity group Axcel Capital Partners.
As part of this transaction, Investcorp has teamed up with David Chu, the luxury brand entrepreneur and founder of Nautica, who will join the company on closing as chief creative director and co-chairman of the board.
Also joining the board on closing will be Guy Leymarie, former chief executive officer of DeBeers Diamond Jewellers, Cartier International and Dunhill.
Georg Jensen designs, manufactures and distributes jewellery, watches, fine silverware and high-end homeware.
Hazem Ben-Gacem, head
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