Deals
Kier has completed its investment in Biogen (UK) Limited, establishing a 50/50 joint venture in the UK’s leading food waste to energy business with its parent company Bedfordia Group plc.
Headquartered in Bedfordshire, Biogen designs, builds and operates large-scale anaerobic digestion (AD) plants to process food waste and produce renewable energy.
Kier’s maximum total investment is GBP24.375m (comprising a mixture of preferred and ordinary equity), of which GBP5.375m was invested on completion. A further GBP2.5m of equity will be invested in December 2012 and another GBP2.5m in July 2013. The remaining GBP14m is scheduled to be invested in instalments
A holding company owned by the Permira funds has completed the acquisition of Intelligrated, a North American-based provider of automated material handling solutions, services and products, in a transaction at a valuation in excess of USD500m.
Intelligrated designs, manufactures and installs complete material handling automation solutions for the warehousing, distribution, consumer product manufacturing, postal and parcel markets.
Solutions offered by Intelligrated include conveyor systems, sortation systems, palletizers and robotics, order fulfilment systems, warehouse control software and advanced machine controls.
The Permira funds’ investment will support the company’s growth opportunities, including further penetration of its customer base in North America, emerging
AXA Private Equity has acquired the entire share capital of frostkrone Holding alongside the company’s management, which is reinvesting.
The previous majority shareholder, Argantis Beteiligungs, a private equity firm focused on German SMEs, now fully exits from the company.
frostkrone and its subsidiary, Bornholter, produce and market frozen finger food and snack products such as mozzarella sticks, cream cheese jalapeños, chilli cheese nuggets and sushi. The company markets its products in food retail outlets and the food service sector. With its workforce of 102 employees, the frostkrone Group generated sales of approximately EUR36m in 2011.
AXA Private
The offshore M&A market increased in value at twice the worldwide average last quarter compared to the previous quarter, according to a report released by Appleby, a provider of offshore legal, fiduciary and administration services.
The latest edition of Offshore-i, the firm’s quarterly report which provides data and insight on merger and acquisition activity in major offshore financial centres, focuses on Q2 2012.
The key themes emerging from the report show that in the second quarter of 2012 the value of deals involving offshore targets increased 12 per cent, up USD3.8bn from the previous quarter. This compares to a six
Premium bar and nightclub operator Novus Leisure has been sold by majority shareholders Barclays Ventures and RBS Strategic investment Group for GBP100m to new investors LGV Capital and Hutton Collins, which have backed the existing management team.
Novus Leisure is the UK’s largest private bar and nightclub operator having a portfolio of 52 primarily London-based premium bars, including Balls Brothers and Tiger Tiger outlets and Polynesian themed nightclub Kanaloa.
Novus Leisure also operates nightlife guide website www.latenightlondon.co.uk.
Latham & Watkins represented Barclays Ventures, RBS and the Novus Leisure management team as sellers in the transaction with a deal team
Koontz-Wagner has completed the previously announced sale of its subsidiary, Koontz-Wagner Custom Controls, to Global Power Equipment Group.
Custom Controls is a manufacturer and integrator of engineered packaged control house solutions for the energy, oil and gas, and electrical industries.
Headquartered in Indiana, Custom Controls has delivered products and services to more than 1,000 customer sites in over 35 countries.
The Custom Controls acquisition will expand Global Power’s products portfolio to its current customers and supports global expansion into adjacent infrastructure products and services.
Luis Manuel Ramírez, president and chief executive officer of Global Power, says: “We are acquiring a
European private equity firm Cinven has sold 10.8 million ordinary shares of Ziggo NV, the largest cable operator in the Netherlands, at a price of EUR23.50 per share, realising EUR255m of gross proceeds.
Following the listing in March 2012 and this sale of shares, Ziggo will have generated total proceeds of EUR569m for the Fourth Cinven Fund and a total money multiple of 2.7x including Cinven’s remaining shareholding in the company.
At close of trading on 30 July 2012, Ziggo ordinary shares were trading at a 34 per cent premium to the issue price. On completion of this transaction, Cinven
Total assets under management held by private equity funds worldwide have reached USD3 trillion for the first time, highlighting the sustained growth of the industry despite challenging wider economic conditions, according to research conducted by Preqin for the 2012 Private Equity Performance Monitor.
The figure is calculated using unrealised portfolio value and the dry powder (uncalled capital) available to private equity funds across the whole scope of the asset class.
Industry assets under management increased by nine per cent from December 2010 to December 2011.
Buyout funds account for approximately 40 per cent of the industry’s assets – USD804bn in
CitySprint, a UK same day distribution network, has completed its sixth acquisition since it was backed by Dunedin, the UK mid-market private equity house, in 2010.
CitySprint has acquired the same day courier, UK overnight and international operations of Scarlet Couriers.
CitySprint is on track to deliver GBP100m of revenues in 2012.
Nicol Fraser, director at Dunedin who sits on CitySprint board, says: “Dunedin continues to build value through acquisitions and organic growth. Scarlet Couriers represents the sixth strategic acquisition undertaken by Citysprint in the last 18 months and the 12th by Dunedin portfolio companies in total.”
The
Maitland, the international wealth and fund services firm, has acquired 100 per cent of Inter-Ocean Management, a corporate services and trust company based in Mauritius.
The deal takes effect from 1 July 2012.
Over the past five years, Mauritius has transformed itself into a springboard for trade and investment into Asia and the fast-growing markets of Africa. Mauritius’ favourable tax regime and wide international double tax and bilateral investment treaty network makes it a sought after jurisdiction for the establishment of international holding companies and trusts for international corporations and individuals. It is also a suitable jurisdiction for the establishment
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