Allocations
Arma Partners has acted as exclusive financial adviser to Evidon, a portfolio company of Warburg Pincus, on the sale of its Ghostery consumer assets to Cliqz.
Cliqz is a Munich-based web browser provider with integrated search engine owned by Hubert Burda Media and the Mozilla Corporation.
The Ghostery assets include the popular anti-tracking browser extension and mobile app, with 10 million active users around the globe.
Euronext has announced the launch of Euronext Family Business, the first European index dedicated to family businesses, designed to highlight the performance of 90 family companies listed in the four countries covered by Euronext.
Components of the Euronext Family Business Index are selected from listed companies in compartments A, B and C of Euronext and on Alternext. To be eligible, candidates must meet criteria defining family businesses as determined by Euronext, with no limit on size or sector.
The criteria include the requirement that the physical person(s) who created the company, or the physical person(s) who acquired the company capital,
KKR is to acquire a stake of up to 40 per cent in Telxius, a critical telecom infrastructure owner and service provider in Europe and Americas.
The deal implies an enterprise value of EUR3.678 billion and is subject to the customary closing conditions.
Telxius owns and operates a large portfolio of nearly 16,000 telecommunications towers in five countries. It also manages an international network with approximately 65,000 kilometres of submarine fibre optic cables, of which around 31,000 kilometres are owned by Telxius. Both business units benefit from growth in their core markets, as the use of mobile data and
Summa Equity has acquired Linfre Education AB from the company’s founder and a handful of private investors.
The founder and CEO Josef Lind will reinvest the majority of his proceeds, and the management team will also invest alongside Summa Equity.
Tommi Unkuri, partner at Summa Equity, says: “We are very excited about concluding Summa Equity’ third investment, and the first one within the investment theme changing demographics. This investment also fits within another of our four themes, tech-enabled business, where education is a core segment. Through Lin Education we will contribute to the digitalisation of the Swedish educational system.
Enstar Group is to sell its subsidiary Pavonia Holdings (US) for USD120 million to an affiliate of Global Bankers Insurance Group, the insurance and reinsurance group of companies of Eli Global.
Pavonia owns Pavonia Life Insurance Company of Michigan, Pavonia Life Insurance Company of New York, and Enstar Life (US). Enstar originally acquired the Pavonia business from HSBC Finance in 2013.
Completion of the transaction is subject to regulatory approvals and satisfaction of closing conditions. The transaction is expected to close during the third or fourth quarter of 2017.
Dominic Silvester, Enstar’s chief executive officer, says: “Since acquiring the
SoftBank Group (SoftBank or SBG) is to acquire Fortress Investment Group (Fortress) in a cash deal worth approximately USD3.3 billion.
Under the terms of the merger agreement, which has been unanimously approved by a Special Committee of Independent Directors of Fortress's Board of Directors and Fortress's full Board of Directors, each Fortress Class A shareholder will receive USD8.08 per share, which represents a premium of 38.6 per cent to the closing price of Fortress Class A common stock on 13 February, 2017, and a premium of 51.2 per cent to Fortress's 3-month volume-weighted average price, excluding dividends. In addition, each Fortress Class A
Summa Equity’s first fund, Summa Equity Fund I, has closed with commitments of SEK4.5 billion, exceeding the initial target of SEK3.3 billion after being significantly oversubscribed. The fund size was limited to SEK4.5 billion despite oversubscription.
Summa Equity was founded in 2016 by five partners brought together by a shared vision of building a leading specialised private equity firm in the Nordic lower mid-market. The firm focuses on capturing the investment opportunity provided by thematic megatrends that are expected to drive long term growth.
Reynir Indahl, Managing Partner, Summa Equity, says: “Our investment strategy is designed to address the challenges
International law firm Proskauer has advised European buyout firm HgCapital on the close of two new funds with a combined value of GBP3.1 billion.
HgCapital 8 closed with GBP2.5 billion in commitments, five months after launching in September 2016, and HgCapital Mercury 2, closed on its target of GBP575 million in capital commitments; with both Funds significantly oversubscribed and receiving strong support from existing investors. These fundraisings will continue to extend HgCapital’s investment focus on software and technology-enabled services across Europe.
“The whole team have excelled themselves on the HgCapital 8 and Mercury 2 fundraisings,” says Andrew Jessop, General Counsel
One Equity Partners’ portfolio company, The WW Williams Company has completed the acquisition of Auto Safety House, one of the largest vehicle maintenance service and parts provider for trucks, pre-owned and new buses, and other vehicles in the Southwestern US.
The company is also the Thomas Built Bus distributor for the State of Arizona.
Auto Safety House will nowl operate as a brand under the ownership of WW Williams, a provider of mechanical repair services and products for commercial trucks, diesel power generators, warehousing, inventory management and logistics services. Financial terms were not disclosed.
Founded in 1941, ASH is one
BioMedPartners has held the first closing of BioMedInvest III, the firm’s third equity venture capital fund, at CHF75 million.
BioMedInvest III is a healthcare venture capital fund which invests in private early-to-mid- stage companies in Switzerland, Germany and neighbouring countries of the European Union.
“We are delighted that the continued success of BioMedInvest convinced many of the major investors of the previous funds to commit also to BioMedInvest III. Among these are the European Investment Fund (EIF) on behalf of the ERP-EIF Dachfonds as cornerstone investor, and the Berner Kantonalbank, BEKB. In addition we could gain several important new private
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