A new bank, Cambridge & Counties Bank, targeting established small to medium sized enterprises (SMEs), has launched in the UK.  The bank will provide SMEs with loans secured against commercial property as well as a highly competitive deposit account. In addition to this, it will also offer secured pension scheme lending, and has plans to launch professional firm financing, as well as other competitive savings accounts into both the retail and non-retail sectors. The bank has a unique structure being jointly owned by Cambridgeshire Local Government Pension Fund and Trinity Hall, a College of the University of Cambridge. They each own 50%

Funds advised by Apax Partners (Apax) and JMI Equity are to acquire Paradigm Ltd (‘Paradigm’), the largest independent software vendor focused on the growing oil and gas exploration & production (E&P) space, for approximately USD1 billion in an all-cash transaction. Paradigm is a multi-national company with a significant presence across Europe, the Americas, the Middle East, Africa, China and Australasia.
 Paradigm’s mission critical software enables engineers to optimise drilling and production decisions through the analysis of vast quantities of seismic and well-log data, spanning the entire spectrum of the E&P lifecycle from basin evaluation through to development & production.  Paradigm

The management team behind Find Invest Grow (FIG), a venture capital firm targeting the student and recent graduate market, has launched the asset management company New Model Venture Capital (NMVC).  NMVC’s first fund, the FIG Concept Seed Fund (the Fund), will provide access to FIG’s current portfolio of start-up investments as well as future deal flow.     NMVC received FSA authorisation in April 2012. It is well-advanced with capital raising for the Fund which, once closed, will provide additional funding to the start-ups supported by FIG.   Both FIG and the Fund invest in businesses founded or managed by UK

Montagu Private Equity (Montagu) has sold medical supplies manufacturer BSN medical (BSN) to EQT VI (EQT) for an enterprise value of around EUR1.8 billion. The transaction is subject to statutory regulatory clearances.   BSN, with close to EUR700 million in sales and approximately 4,000 employees, is one of the world’s leading suppliers of wound care, compression therapy, and orthopaedic products to hospitals, pharmacies and sanitary shops.   In Wound Care, the company’s diverse product portfolio includes both acute and advanced wound care products. The Compression Therapy business focuses predominantly on ready-to-wear and custom-made compression garments. In Orthopaedics, BSN offers a

A holding company owned by the Permira funds is to acquire Intelligrated (www.intelligrated.com), a North American-based provider of automated material handling solutions, services and products, in a transaction at a valuation in excess of USD500 million. Intelligrated’s management, led by founders Chris Cole and Jim McCarthy, will maintain a significant stake in the company as part of the transaction and will continue to lead the company. Intelligrated designs, manufactures and installs complete material handling automation solutions for the warehousing, distribution, consumer product manufacturing, postal and parcel markets. Solutions include conveyor systems, sortation systems, palletisers and robotics, order fulfilment systems, warehouse

Maven Capital Partners has sold its investment in Transys Projects Limited (Transys) to the German engineering concern Vossloh Kiepe, the rail transportation division of MDAX listed Vossloh AG. 

Transys is engaged in the provision of turnkey and engineering consulting solutions relating to the maintenance and enhancement of rail rolling stock. Maven client funds supported the original management buyout of the company in April 2002, since when it has significantly increased both its range of products and the depth of its engineering expertise. Over the same period the company has invested in the development of key relationships with the owners and

Gresham Private Equity, the UK mid market private equity specialist, has successfully exited Marston Group through the sale of the business to Inflexion Private Equity. The performance of the Marston Group will result in a strong return on investment for Gresham. Gresham led the management buy-out of Drakes, a leading enforcement business, from its private owner. As is typical of a Gresham investment, the plan was to professionalise and grow – both organically and through acquisition. Drakes then acquired the business of John Marston & Co, a market leader in enforcement of High Court writs, in 2008. The combined business,

Private equity firm Catterton Partners has made a capital investment in Mendocino Farms, the rapidly-growing gourmet sandwich casual restaurant brand. Terms of the transaction have not been disclosed but Mendocino Farms plans to use the investment to fund expansion throughout Southern California and eventually to new geographic regions.  Mendocino Farms takes a fine dining approach to developing gourmet and classic sandwiches through its use of premium ingredients and unique flavour combinations with a value-conscious focus. The Mendocino Farms name and concept pay tribute to the county in Northern California that is known for its support of the slow food movement

Business Growth Fund (BGF), established to help the UK’s fast growing smaller and medium sized businesses, has invested GBP3 million of growth capital in the Cennox Plc group of companies (including ATM Parts and Mainet) which provides services to the ATM (cash machines) sector.  Cennox was founded in 2004 by Clive Nation as a specialist ATM services group and has been successfully built up through organic growth and acquisition to comprise of two main businesses:  ATM Parts and Mainet.  Blue chip customers include Barclays, HSBC, Nationwide, IBM, Bank Machine, Loomis and G4S.   ATM Parts is a leading international supplier of