Allocations
Global law firm White & Case has advised GSO Capital Partners on its GBP115 million debt-and-equity financing of the management buyout of XLN Telecom from ECI Partners.
White & Case also represented the management-backed Newco on the acquisition.
GSO, a subsidiary of global investment and advisory firm The Blackstone Group LP, is one of the world’s largest credit-oriented alternative asset managers with more than USD67 billion in assets under management.
London partner Gareth Eagles, who led the team which advised GSO, says: “Our team included lawyers from several of our practices but in particular our banking and private
A company owned by the private equity firm Permira is to acquire Metalogix, a provider of management tools for mission-critical collaboration platforms, including Microsoft SharePoint, Exchange and Office 365.
Members of Metalogix’s senior management team, including chief executive officer Steven Murphy, will maintain a significant equity stake in the company going forward. Terms of the transaction were not disclosed.
Metalogix is a Microsoft Gold Partner, an EMC Select Partner, and a GSA provider, and its products are backed by its live 24×7 support. With its recent acquisitions of Axceler and Idera’s SharePoint tools, Metalogix has built a suite of
Drug development firm Brabant Pharma has been sold to US-based pharmaceutical company Zogenix, in a deal where the main selling shareholders were advised by Zeus Capital.
Consideration for the deal is expected to reach up to USD130m.
Brabant is a single purpose company developing its low-dose fenfluramine treatment to Dravet syndrome, Brabafen. The disease, also known as Severe Myoclonic Epilepsy of Infancy (SMEI), is a rare form of intractable epilepsy that begins in infancy and affects one in 40,000 children born. The disease causes frequent, severe and potentially life-threatening seizures that typically start in the first year of life.
Consumer brands specialist investor Piper has sold Justin Craig Education, a UK exam revision business, to independent college brand MPW.
The sale was completed for an undisclosed sum.
Piper bought Justin Craig in 2008. Since then, it has doubled sales and become a leading brand in the group tuition market. In transforming the business, Piper has helped build a new management team, establish a bespoke bookings system and develop an efficient marketing programme to attract new customers, as well as improving the range and quality of Justin Craig's revision courses.
Chris Curry, managing partner at Piper, says: “We are proud of the way we have helped Justin Craig grow and
Private equity firm Advent International has completed the acquisition of Corialis (Core Innovative Aluminium Integrated Solutions) from Sagard and Ergon, alongside the management team led by CEO Johan Verstrepen.
Terms of the transaction have not been disclosed.
Founded in 1984, and headquartered in Belgium, Corialis is a European aluminium profile manufacturer, supplying aluminium profile systems to small and medium-sized window, door, and conservatory fabricators for both the new-build and renovation construction markets. Corialis operates under a differentiated, fully integrated hub-based model, with all production stages under one roof.
With 1,600 employees based in four major hubs (Belgium, France,
Tiptree Financial is to sell its subsidiary Philadelphia Financial Group to funds managed by the tactical opportunities group of The Blackstone Group for approximately USD155 million in cash plus additional consideration of approximately USD10 million to be paid over two years.
The transaction, which including both Tiptree’s third party administration and life insurance operations, is subject to customary closing conditions including regulatory approval and is expected to close in the third quarter of 2015.
Houlihan Lokey Financial Advisors acted as financial advisor to Tiptree and rendered a fairness opinion to its board of directors in conjunction with this transaction.
Ashurst has advised the credit business of Kohlberg Kravis Roberts (KKR) on the acquisition of the entire share capital and voting rights of Pont-sur-Sambre Power and Toul Power, two combined cycle gas turbine power plants in France.
The plants were acquired from Verbund AG, a power transmission and trading company.
The transaction is subject to regulatory approval.
The transaction was led by Paris-based corporate partner Bertrand Delaunay, assisted by associate Séverine Gallet.
A total of 298 European private equity transactions in Q3 represented a meaningful reduction in volume over the prior quarter, impacted by a decrease in both buyouts and early stage transactions, according to SL Capital Partners.
Value held up relatively well given the reduced volumes and, although the EUR19.0bn transacted was a 19.7 per cent reduction on the prior quarter, the overall performance was much higher than Q3 2013 and 2012 and average deal size remained stable.
The European private equity market continues to move in a general upward trend, although continuing to experience a high level of volatility
Independent corporate and fund services provider Crestbridge has seen the value of funds it administers grow from GBP1.84 billion in June 2013 to GBP15.06 billion in June 2014, representing an increase of more than 700 per cent.
Contributing to this growth were a number of key business wins for the firm. These included establishing and providing administration services to the Jersey-domiciled Kennedy Wilson European Real Estate fund, which raised GBP1 billion and became the second largest real estate IPO in LSE history, and being appointed to provide a range of administration and oversight services to a number of Jersey-domiciled asset
London listed private equity fund JZ Capital Partners, an investor in US and European micro cap companies, has now seen NAV growth in 20 of the past 22 quarters.
The firm’s NAV totalled USD657.4 million at 31 August 2014 (FYE 28/02/14: USD666.5 million), with pre-dividend NAV per share of USD10.27 (FYE 28/02/14: USD10.25). A distribution of 16 cents per share was paid in June 2014, while an interim dividend of 15 cents per share was paid for the period (H1 2013: 14.5 cents per share).
The firm saw USD96.4 million of proceeds during the period, primarily from the following realisations:
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