HgCapital, the European sector-focused private equity investor, has acquired Qundis Group, a German foremost provider of submetering devices and systems for consumption-dependent billing of heat and water. HgCapital will acquire the company from financial investor Capcellence and Qundis management team, pending approval by the antitrust authorities. The Qundis management team will reinvest a substantial portion of their stake as part of the transaction.   Qundis was created in 2008 by the merger of QVEDIS (previously part of Siemens) and KUNDO SystemTechnik. Headquartered in Mühlhausen, the company has approximately 220 employees and currently provides submetering systems to a highly fragmented customer

Sagard, Jean Jacques Namani (President of Stokomani) and his management team have signed an agreement to acquire, from Advent International, Stokomani, the leading French discount wholesaler of leading brands. This transaction should be finalised by June 2012. The value of the transaction was undisclosed. For over 50 years, Stokomani has been the leading French specialist discounter of end‐of‐line products. Through its network of 37 stores, Stokomani offers a large range of constantly renewed brand name goods at attractive prices in the clothing, sportswear, beauty and healthcare, home ware or toy sectors. It is based on this unique concept, developed by

Cummins Inc has signed an agreement to acquire the heavy duty emissions control business of 3i-backed Hilite International. Headquartered in Marktheidenfeld, Germany, Hilite is a global supplier of leading automotive system solutions. The purchase price was undisclosed. Hilite’s emissions control unit is a world-class technology leader in the design and assembly of exhaust dosing systems for on- and off-road heavy duty vehicles. The business accounts for approximately 25 percent of Hilite’s revenues. It is a market leader offering superior solutions which enable its customers to meet increasingly strict global emissions standards. Following the sale, Hilite will focus on its core

Novartis has signed a definitive agreement to acquire specialty dermatology generics company Fougera Pharmaceuticals. Under the terms of the agreement, Novartis will acquire the business, which is based in Melville, New York, for USD1.525 billion in an all-cash transaction.   The sellers are comprised of a consortium of private equity funds led by Nordic Capital, DLJ Merchant Banking (a Credit Suisse affiliate) and Avista Capital Partners. The acquisition creates another strong global growth platform for Sandoz, the generic pharmaceuticals division of Novartis. Based on 2011 IMS data, the combined businesses will become the No1 global company in generic dermatology medicines,

The British Racing Drivers’ Club (BRDC) is continuing its plan to attract commercial investment to help realise the full potential of Silverstone and its 760-acre Estate. The BRDC signed an exclusivity agreement with one prospective partner towards the end of 2011. Negotiations with the potential investor remain positive, but with the period of exclusivity coming to a close the BRDC plans to broaden its search and engage with other interested parties.  Stuart Rolt, Chairman of the BRDC, says: “The commercial potential of Silverstone and the Estate is significant and we are seeking external investment, from third parties who share our

Ludgate Environmental Fund Limited has made three new investments in biomass, anaerobic digestion and waste heat recovery, each with the expectation of significant growth potential. Ludgate Environmental Fund has committed GBP7.0 million to Tamar Energy Limited, to fund the development and construction of food and mixed waste anaerobic digestion plants that produce renewable energy. Tamar Energy is developing a UK network of more than 40 plants with capacity to generate 100MW of electricity over the next five years. The company has an advanced pipeline of projects as well as experienced engineering and construction partners with proven success in the UK.

KSL Capital Partners has completed the previously announced acquisition of the historic Grove Park Inn Resort & Spa. One of the most iconic resorts in the United States, the 512-room Grove Park Inn sits between the majestic Blue Ridge and Great Smoky Mountains in Asheville, North Carolina. Constructed in 1913, the resort features one of the country’s most widely acclaimed spas, eight dining outlets and seven retail outlets, an 18-hole Donald Ross-designed golf course, a 50,000-square-foot sports complex, and 55,000 square feet of meeting space with 42 meeting rooms. As part of the resort’s Centennial celebration in 2013, KSL Capital

JP Morgan’s Worldwide Securities Services business has been appointed to provide private equity fund administration services to 8 Miles Fund I, a Pan-African private equity fund that plans to invest in businesses across a broad range of industries, with the aim of driving long-term growth in Africa.  8 Miles, which recently closed its first fund raising, plans to focus on growth sectors in Africa including agribusiness, consumer and retail, health, telecommunications, banking and financial services.   JP Morgan will provide a set of comprehensive services including fund and partnership accounting, capital call/distribution management, investor reporting, and investor tracking, investor relations

Montagu Private Equity has reached an agreement to acquire CAP from Top Right Group (formerly Emap International). CAP is a market leading provider of vehicle valuation data, new vehicle information and business solutions to the automotive industry. Terms of the transaction, which is expected to close later in May, were not disclosed. Founded in 1979 and based in Leeds (UK), CAP’s data and information systems serve clients across a broad variety of automotive-related sectors. CAP’s current used car values are used as the benchmark for residual values performance across the disposals industry and CAP Monitor is the leading residual values

Matrix Private Equity Partners LLP has sold portfolio company Camwood Limited (Camwood) to its management team. Camwood is an IT services business that specialises in application migration and portfolio management. It is a leader in its field of Application Intelligence. Four years ago Camwood spun out App-DNA, a software toolset for application management which was then sold to Citrix in October 2011 for USD92 million, generating a 32x return for Matrix advised VCT, The Income & Growth VCT plc.  Following that transaction, Matrix retained its original stake in Camwood.  The sale back to management of the remaining Camwood business has