Deals
Abacus Finance Group, (Abacus), a New York-based specialty finance company, has acted as Administrative Agent and Sole Lead Arranger for USD16 million in senior cash-flow financing to support the leveraged buyout of Industrial Magnetics, Inc (IMI) by River Associates Investments LLC (River Associates).
Abacus focuses exclusively on providing cash-flow financing for private equity-sponsored, lower-middle market companies. Legal counsel to Abacus was provided by Goulston & Storrs, LLP.
Headquartered in Boyne City, Michigan, IMI is an industry leader in providing permanent magnets and electromagnets for work-holding, lifting, fixturing, conveying and magnetic separation. River Associates Investments LLC, based in Chattanooga, Tennessee, is
Monomoy Capital Partners, a New York private equity fund focused on value investment and business improvement, has acquired the stock of Raybestos PowerTrain, LLC (Raybestos) from an affiliate of Sun Capital Partners.
Monomoy has combined Raybestos and Steel Parts Manufacturing, Inc (Steel Parts), into a global growing transmission component platform that Monomoy formed in April 2011. Terms of the transaction have not been disclosed.
The combined business will continue to go to market under the Raybestos, Allomatic and Steel Parts brand names.
Raybestos combined with Steel Parts will create a leading supplier to automotive and heavy-duty vehicle customers in both
AAC Capital UK (AAC UK), the mid-market buy-out firm, has sold Amtico Group, a designer and manufacturer of high end flooring, to Mannington Mills, Inc, the US-headquartered provider of branded flooring products.
Amtico created the market for high quality floor tiles over 40 years ago and has been at the forefront of producing innovative and resilient flooring products for residential and commercial interiors ever since. Its internationally recognised brand is synonymous with cutting-edge design and high performance. The company employs 600 people operating from its headquarters in Coventry (UK) and facilities in Madison (USA) and Conyers (USA).
Amtico has
The Maven VCT Offers, which gave investors the opportunity to invest in four established and income producing VCTs managed by Maven Capital Partners, have now closed.
The Offers, which were due to close on 5 April 2012 for 2011/12 applications, and 27 April 2012 for tax year 2012/13, are now fully subscribed after the target of GBP1.25 million per company was achieved on 29 February 2012.
Investors under the Offers have gained access to four highly diversified portfolios of profitable private businesses with strong yield characteristics, and are immediately eligible for regular and attractive levels of tax-free income, including any final dividends
Investec Growth & Acquisition Finance (Investec) has provided an innovative debt facility to support the buy-out of 2M Holdings Limited (2M), owner of chemicals distribution businesses Surfachem and Banner Chemicals, by Chairman and co-founder Mottie Kessler.
2M was formed in 2003 by Mottie Kessler and Ieuan Thomas with the objective of growing a portfolio of companies in the chemicals distribution sector. Its business activities started with the acquisition of Liverpool-based Banner Chemicals in 2004 followed by the subsequent acquisitions of MP Storage in 2006 and Leeds-based Surfachem in 2007. 2M is headquartered in Runcorn and operates from Halifax, Leeds, Middlesbrough
L Capital Management has held the final closing of L Capital 3 FCPR with total commitments of EUR400 million, well in excess of the Fund’s original target of EUR350 million.
L Capital Management – an independently-operated private equity firm started in 2001 and sponsored by the LVMH Group and its private holding company Groupe Arnault, – is Europe’s most established private equity firm specializing on lifestyle brands and selective retail businesses in Europe.
L Capital 3 will invest in mid-market European lifestyle brands and selective retail benefiting from global consumption trends. In particular, it will seek to invest primarily into
International legal practice Norton Rose LLP is advising long standing client ValueAct Capital on its proposed joint offer with CVC Capital Partners Limited for Misys Plc.
Misys Plc is a leading application software and services provider, currently listed on the London Stock Exchange with a market capitalisation of GBP1.1 billion.
ValueAct Capital, with more than USD7 billion in investments and offices in San Francisco and Boston, seeks to make active strategic-block value investments in a limited number of companies. The Principals have demonstrated expertise in sourcing investments in companies they believe to be fundamentally undervalued and then working with
DC Advisory Partners has advised Citizen Watch Co Ltd (Citizen) a Tokyo based global electronics company famous for its technologically advanced watches, on the acquisition of Prothor Holding SA.
Prothor is the holding company for Manufacture La Joux-Perret, Prototec SA and Arnold & Son SA, all of whom are specialists in the luxury Swiss watch industry. Manufacture La Joux-Perret, the most well-known of the subsidiaries, is a leader in the field of high quality mechanical movements and components for the mechanical watch industry. Its product range, which uses sophisticated technological skills, boasts hundreds of unique watch movements.
The transaction
IK Investment Partners is to sell Europris, the leading Norwegian integrated mixed discount retailer focused on non-food retail, to Nordic Capital. Financial terms of the transaction have not been disclosed.
IK acquired Europris in September 2004, at which time the Company consisted of a wholesale business, a penny store concept and a franchise operation with a network of 136 stores across Norway. During its ownership, IK has successfully transformed Europris into an integrated wholesale/retail business and doubled chain revenues close to EUR 500 million in 2011.
IK has, together with management, also implemented a number of strategic initiatives and operational
Maven Capital Partners (Maven) has realised a return of 1.7x on its initial investment from the sale of its holding in ATR Group via a secondary buyout funded to the private equity manager NBGI.
ATR is a market leading provider of rental services for specialist plant, equipment and consumables, with an extensive client base of offshore and onshore energy services maintenance contractors operating in highly regulated environments. The group provides a comprehensive range of added value support services, including health and safety compliance solutions and the inspection and certification of equipment.
Maven client funds invested in the MBI of ATR
Events
12 November, 2026 – 8:00 am
12 November, 2026 – 5:00 pm
