Allocations
Private equity firm Golden Gate Capital has acquired Tronair Parent from Levine Leichtman Capital Partners.
Tronair will remain headquartered in Holland, Ohio and will continue to be led by its current senior management team, including president and CEO Harley Kaplan.
Terms of the transaction have not been disclosed.
Founded in 1971, Tronair specialises in the design, manufacture, and sale of ground support equipment (GSE) for business, commercial and military aircraft.
Its GSE product lines – comprised of over 1,000 SKUs – are used by over 300 unique aircraft platforms. It serves aircraft OEMs such as Bombardier, Gulfstream,
Private equity investment firm Thoma Bravo has completed fundraising for Thoma Bravo Fund XII, its most recent flagship fund, with USD7.6 billion in commitments.
Thoma Bravo has completed more than 140 software and technology-enabled service acquisitions, representing about USD30 billion in enterprise value.
"Over the past 15 years we have been able to help software and technology companies realise their growth and profitability objectives while launching them into their next phase of innovation," says Orlando Bravo, a managing partner at Thoma Bravo. "We thank all of our investors for giving us the opportunity to continue to implement our model
3i Infrastructure has completed its investment in renewable development and operating company Valorem.
3i Infrastructure has invested EUR57 million to acquire its 28.5 per cent interest in the French business and to fund the company’s pipeline.
3i Infrastructure acquired its interest from FCPR Capenergie, a fund managed by Omnes Capital, and other minority shareholders.
It has also committed to invest a further EUR12 million over the next three years with a view to increase the company’s owned installed capacity.
The transaction was announced on 14 July.
European private equity investor Idinvest Partners has held the first close of its Secondary Fund III (ISF III) at its initial target of EUR350 million.
ISF III will follow its predecessor fund by focusing on mature secondary transactions in the European small and mid-market.
ISF III has already completed its first secondary transaction and Idinvest Partners is targeting a final close of EUR400 million for ISF III during the remainder of 2016.
The fund's 2014-vintage predecessor, ISF II, closed at EUR228 million and is now fully invested across 17 secondary transactions.
Christophe Bavière, CEO of Idinvest Partners, says: “We are very grateful
Investors hunting for returns should closely monitor five trends that could spark an increase in corporate takeovers in coming months, according to asset manager AllianceBernstein (AB).
Mark Phelps, AB’s chief investment officer—Concentrated Global Growth, says that while the annual scale of global mergers and acquisitions was currently down on the past two years, the five trends could support a pickup in mergers and acquisitions activity as CEOs across regions and industries were compelled to consider deals to boost earnings.
These five trends are:
Cheap finance – “With interest rates at record lows, companies can easily find leverage to
Hong-Kong based private equity firm NewQuest Capital Partners has acquired Integreon, a provider of legal, document, business and research outsourcing, from LiveIt Investments and Actis.
Financial terms of the deal have not been released.
Amit Gupta, partner and chief operating officer at NewQuest, says: “The Integreon transaction is an exciting opportunity to invest in a global leader with attractive growth prospects. Over the past few years, the business has achieved an exceptional market position and is poised to take advantage of its long-standing strong client relationships, its global delivery platforms, and deep experience in working with professional clientele. Integreon
HarbourVest Bidco has received an irrevocable undertaking from a SVG Capital shareholder in respect of 31,221,994 SVG Capital shares and letters of intent from SVG Capital shareholders to accept its offer in respect of a total of 35,419,782 SVG Capital shares.
These represent, in aggregate, approximately 20.0 per cent and 22.7 per cent, respectively, and together 42.7 per cent, of the issued share capital of SVG Capital as at 9 September 2016 (the last business day prior to the commencement of the offer period).
The irrevocable undertaking remains binding in the event of a higher, or any other, bid or
Zencap Asset Management has launched Zencap Infra Debt 2, attracting a total commitment of EUR236 million for its first closing from four institutional investors in the insurance sector.
The new vehicle, a French FCT, will invest through Natixis’ infrastructure platform, which provides access to infrastructure debt and bespoke servicing on each investment up until maturity.
The vehicle complies with the requirements of French Fonds de Prêts à l’Économie.
The strategy offered by the fund provides institutional investors with portfolio diversification and commitment to sustainable development through investment in various sectors such as social infrastructure, utilities, renewable energy, transportation,
Hermes Investment Management has launched the Hermes Direct Lending Strategy with an initial commitment from a cornerstone institutional investor.
Hermes intends to follow this with the launch of a fund later in the year, subject to regulatory approval.
The strategy aims to provide access to the stable, low-correlated returns offered by predominantly senior-secured loans to small and medium enterprises. It will initially have a UK focus, where there is the largest and most creditor-friendly lending market in Europe, while maintaining flexibility to invest across the continent.
UK senior-secured transactions will be originated through partnership with Royal Bank of
Private equity is enhancing value in operating companies, according to analysis by CEPRES looking at thousands of PE-backed operating companies post the global financial crisis.
CEPRES has found that during the period there has been a steady and significant increase in average compound annual growth rate (CAGR) of EBITDA for PE-backed companies.
Further, CEPRES found that increase in valuation of companies post the financial crisis is driven more by EBITDA growth than prior years.
This evidence supports the view that activist PE fund managers are effective and able to deliver on the promise of delivering returns through value
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