Allocations
Pharmaceutical firm Almirall has agreed with London-based AstraZeneca to transfer its drug platform for respiratory disease treatments.
Once the transaction is completed, AstraZeneca will pay USD 875 million for the rights.
Up to USD1.22 billion is additionally payable if certain milestones are reached with regard to the development, launch and commercialisation of existing and future drugs.
The German subsidiary, Almirall Sofotec, which develops inhalation technology, and a substantial number of employees dedicated to the respiratory disease business, will also transfer to AstraZeneca.
The transaction is subject to approval from the authorities and the consultation of the employee
Nautic Partners has partnered with management to acquire Custom Window System, a designer and manufacturer of impact resistant and non-impact windows, doors and porch enclosures.
Custom was founded in 1986 and is headquartered in Ocala, Florida.
“We believe that Custom has developed into one of the largest and most well-respected window and door manufacturers in Florida by developing high quality products and providing a consistently high level of service to its customers. Custom is ideally positioned for further growth given the attractiveness of the Florida market and the company’s leading reputation across multiple product categories,” says Doug Hill, managing
Catterton, a consumer-focused private equity firm, has acquired designed jewellery brand John Hardy.
Terms of the transaction have not been disclosed.
Founded in 1975, John Hardy is a luxury designer jewellery brand. Its collections are available at more than 600 retail locations across 27 countries and regions.
The company has appointed Robert Hanson as chief executive officer, effective immediately. Hanson brings more than 25 years of brand development and retail experience to John Hardy, including with American Eagle Outfitters and Levi Strauss.
Hanson says: "With Catterton's well-established track record for partnering with leading brands to help them capitalise
Evercore is expanding its investment banking capabilities in London through the formation of a new European dedicated debt advisory business.
The business will be led by Swag Ganguly who joins the firm as a senior managing director from Rothschild in London. He will be supported by Mark Craig who joins as a managing director from Lloyds Bank in London.
This new business expands the services that Evercore can provide to existing and new clients in Europe and will form a core part of its offering in conjunction with strategic and mergers and acquisitions advice.
The team will work
Mission Creek Capital Partners, an independent investment advisory firm headquartered in San Francisco, has reported strong private equity stock distribution activity and new client mandates.
Mission Creek provides private equity and venture capital distribution management services for private equity institutional investors, general partners, executives and entrepreneurs.
Mission Creek currently manages distribution mandates for institutional and private clients with combined private equity commitments exceeding USD4.0 billion.
Henri Moudi, managing director, says: “Resurging IPO and M&A appetite has resulted in an attractive exit and stock distribution environment for private equity and venture capital funds. The first half of 2014 was
Bridges Ventures’ portfolio company Alina Homecare has acquired a homecare provider in the Midlands.
This is the second deal completed by Alina and follows the acquisition of a homecare provider in Hertfordshire in May this year.
Alina is continuing to invest in ‘greenfield’ branches and, in addition to the first branch that it opened on the South Coast in March, it is now opening a further two greenfield branches in the region.
Bridges announced its backing of Alina in May 2014 as the latest investment of the Bridges Sustainable Growth Fund III.
Alina aims to improve standards
Clairvest Group has held a final closing for Clairvest Equity Partners V and its parallel partnerships (CEP V).
Marketing of CEP V commenced in February 2014 with a fund target size of USD500 million.
CEP V closed at USD600 million, the fund's hard cap, and was materially oversubscribed.
Clairvest's commitment to the fund is USD180 million alongside USD420 million from third party investors.
"We are delighted to have a renewed commitment by many of our existing fund investors as well as to welcome several new investors to CEP V. We are pleased that the market was receptive
Thoma Bravo has completed its acquisition of Sparta Systems, a provider of enterprise quality management solutions, from current investors Summit Partners and Altaris Capital Partners.
Financial details have not been disclosed.
“Sparta is an established leader in the enterprise quality management solutions space, and we look forward to working with the company’s management team to identify and pursue future growth opportunities,” says Scott Crabill, a managing partner at Thoma Bravo. “We expect to help management further accelerate Sparta’s growth and expand the company’s geographical and sector reach.”
“We are excited to partner with Thoma Bravo, which has a
Mid-market private equity firm LDC has exchanged contracts to sell its stake in pharmaceutical manufacturer Penn Pharmaceuticals in a GBP127million transaction with Packaging Coordinators.
LDC took a significant stake in Penn in April 2007, investing GBP33million in the business. The exit will deliver nearly a 3x return on its original investment.
Established in 1979 and headquartered in Tredegar in South Wales, Penn provides a selection of contract development and manufacturing organisation (CDMO) services to its customer base that comprises some of the world’s leading pharmaceutical and biotech companies. Its reach spans Europe, Japan and the US, and it provides
AnaCap Financial Partners, together with HIG and Deutsche Bank, has completed the acquisition of a EUR495m portfolio of non-performing and sub-performing loans from Volksbank Romania.
Under terms of the agreement, funds advised by AnaCap will jointly acquire the entire portfolio with HIG and Deutsche Bank.
The portfolio of 3,566 loans in total is backed by a mix of primarily residential, commercial real estate and development land. APS Romania will be appointed as master servicer.
The transaction is the largest of its kind in Romania to date and came about as a result of the ongoing pressure on financial
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