Allocations
An affiliate of private equity firm Veritas Capital is to acquire Harris Corporation’s government IT services business for USD690 million in cash.
Proceeds from the transaction will be used to support the company’s capital allocation strategy, including pension pre-funding and share repurchases.
The transaction is subject to regulatory review and other customary closing conditions and is expected to close before the end of fiscal 2017.
Headquartered in Herndon, Virginia, the business provides IT and engineering managed services to US government agencies, including supporting NASA’s Space Communications Network and Deep Space Network programmes, and operates within the company’s critical
An affiliate of private equity investor Sun Capital Partners has completed the acquisition of Arrow Tru-Line (Arrow), a manufacturer and distributor of garage door hardware and fittings. Terms of the private transaction have not been disclosed.
Founded in 1970, Arrow Tru-Line has built its brand on providing a wide range of high-quality products for both residential and commercial customers. The Archbold, Ohio-based Company currently operates two plants and four distribution centers in the US and Canada.
“Our investment in Arrow Tru-Line is an exciting opportunity for Sun Capital to leverage its resources and expertise to drive growth,” says Marc Leder,
UK fund management company Octopus Investments has appointed Chris McVey as a fund manager in the smaller companies team.
McVey (pictured) joins a team which, following significant growth in funds under management in recent years, now invests over GBP1 billion in UK quoted smaller companies.
McVey will focus on management of the Octopus AIM inheritance tax portfolios, the Octopus AIM Venture Capital Trusts and the FP Octopus UK Micro Cap Growth Fund.
McVey brings with him over 16 years’ experience within the UK smaller company equity market. He joins Octopus from Citigroup where he was a director for
The Longfort Group, through L Concepts, has completed its acquisition of Scoozi Italian Restaurant, its maiden acquisition in Thailand.
Scoozi has 24 branches located across the Great Bangkok area having opened its first location in downtown Bangkok in 2004.
It specialises in Neapolitan-style pizzas made in traditional wood-fired ovens.
Scoozi operates both dine-in and delivery formats.
"We are excited about our foray into the Thai consumer market especially through such an established platform as Scoozi," says TW Pang, chief executive of The Longfort Group. "The potential of the brand is enormous and we look forward to stewarding
Fiera Infrastructure has acquired Suncor Energy's 50 per cent interest in the Cedar Point II Limited Partnership, owner of the 100 megawatt (MW) Cedar Point II wind facility.
Cedar Point II, located in Forest Hill, Ontario, consists of 46 wind turbines located on privately owned lands under long-term leases, is co-owned with affiliates of NextEra Energy Canada and has been operating since October 2015.
It benefits from a 20-year power purchase agreement with the Independent Electricity System Operator (IESO), formerly Ontario Power Authority, whereby 100 per cent of the output is sold to the ISEO in exchange for a
Sixpoint Partners has held the closing of Incline Equity Partners IV with over USD601 million of total capital commitments.
The fund closed at its hard cap and well in excess of its USD450 million target after only three months of marketing.
The fund, which is the fourth investment vehicle for the founding principals of Incline Equity Partners, received commitments from a number of top-tier investors, including endowments, foundations, multi-manager funds, consultants, public pensions, corporate pensions and family offices.
Fund IV follows the strategy of its predecessor, Incline Equity Partners III, which closed above its target at USD301 million
The VT UK Infrastructure Income Fund (UKIIF), which is advised by GCO Advisory – a subsidiary of Gravis Capital Partners – has raised over GBP120 million of assets in the 12 months since its launch.
The fund has returned over 11 per cent to investors including three full and one part-period dividend payments totalling 4.5940p in respect of the C GBP income share class.
The fund is expected to achieve its target of 5 per cent distributions from the next dividend payment to be announced at the end of March.
Through its investments in 27 infrastructure securities, the
The private equity team at Foresight Private Equity invested over GBP17 million into nine companies across the UK during the last quarter of 2016.
The Foresight Regional Investment Fund, targeting companies in the North West of England, North Wales and South Yorkshire, supported by Foresight’s new Manchester office, has already deployed one third of funds within its first 12 months and has a strong pipeline of investment opportunities under consideration.
The Foresight Nottingham Fund has now made investments into 12 companies and is over 50 per cent deployed. Portfolio company TheIdleMan.com announced a further investment from Channel 4 in
UpWest Labs, Singulariteam and OurCrowd Funds were the most active venture capital funds in Israel during 2016, according to a report from IVC Research Center, in cooperation with Israeli law firm APM & Co.
All three completed eight first investments in 2016, and while considered early stage, low-placement, small funds, their new portfolio strategies in 2016 were varied.
UpWest Labs, a micro VC with approximately USD9 million under management, performed six first investments in seed rounds, in addition to two A rounds.
Singulariteam, managing a total of USD152 million in three funds, evenly split its eight first investments
M&A deals in Central-Eastern Europe peaked in value in 2016 at EUR86.7 billion, a 62 per cent increase compared to 2015 and the highest result since 2013.
This is according to the Emerging Europe M&A report 2016/2017, published by CMS in cooperation with EMIS.
With 1,985 transactions, the CEE region experienced a 7 per cent decline in the volume of announced deals, but their median value increased by EUR2 million to EUR11.2 million.
Helen Rodwell (pictured), partner, CEE corporate practice, CMS, says: “Dealmakers acted cautiously as global economic growth remained weak, amid uncertainty about election and referendum results. Confidence
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