Allocations
OMERS Private Equity (OPE) has completed the sale of Maxxam Analytics International Corporation to Bureau Veritas for CAD650m.
Founded over 40 years ago, Canada-based Maxxam provides analytical services and solutions to the energy, environmental, food and DNA industries.
Maxxam processes approximately 2.5 million samples and generates in excess of 41 million results annually through the only national network of laboratories.
Since OPE acquired Maxxam in September 2008, its revenue has grown by 80 per cent and the company has continued to strengthen its market position both organically and through strategic acquisitions.
"We are very proud to have
Actis has made a 36 per cent equity investment in the AutoXpress group, an East African tyre wholesaler and retailer.
Operating through 20 company-owned stores in Kenya and Rwanda, AutoXpress is the key distributor and retailer of leading tyre, battery and suspension brands, including Pirelli, Dunlop, Marshal, BKT, KYB and Energizer.
Servicing both corporate customers and the fast growing Kenyan retail market, AutoXpress is a third generation family business.
Peter Schmid, head of private equity at Actis, says: “AutoXpress is a compelling entrepreneurial business that meets a core consumer need: access to quality tyres, automotive parts and services
Private equity firm HIG Capital has completed the sale of its portfolio company SeaStar Solutions to American Securities.
Based in Litchfield, Illinois, SeaStar Solutions (formerly Teleflex Marine) is a manufacturer of precision-engineered vessel control systems and other specialised applications in marine and industrial end markets.
The company has approximately 750 employees and operates through four manufacturing facilities in North America, while maintaining an international sales presence in Europe, Asia and Australia.
In 2011, HIG partnered with management to acquire SeaStar from Teleflex and undertook multiple initiatives to grow the company and improve its profitability. These efforts include the
Newgen Software, a provider of business process management (BPM), enterprise content management (ECM) and customer communication management (CCM) solutions, has raised equity capital from IDG Ventures India and Ascent Capital.
Avendus Capital was the financial advisor to the transaction. The investment will be used to strengthen presence in the US and other major developed markets, as well as in new product development.
Diwakar Nigam, the managing director of Newgen Software and a founder member of NASSCOM, says: "I am pleased that IDG Ventures India and Ascent Capital have placed their confidence in us. The investment will be used to
Vector Capital, a technology focused private equity firm, has acquired CollabNet from existing venture investors and other shareholders.
Concurrent with the buyout, Vector has also made a growth equity investment in the company, which will be used to accelerate product development, strengthen CollabNet’s sales and marketing efforts, and enable add-on acquisitions.
CollabNet, founded in 1999, is a provider of cloud-based application lifecycle management (ALM) solutions for agile software delivery at scale. It is the founder and principal sponsor of Subversion and a pioneer in cloud-based application development. Its customer base includes both large enterprises such as Capgemini, Intel, Ameritas,
Sub-investment grade corporate credit specialist Alcentra, part of BNY Mellon, has invested in Cambridge Education Group (CEG), a provider of foundation programmes and English language training.
Alcentra’s senior loan will support the buyout by Bridgepoint in a transaction totalling GBP185m and will provide a strong platform to deliver the company’s global growth plans.
Established in 1952, the company is a leading player in the international schools market, providing pre-university education to more than 4000 students recruited from over 95 countries via its global marketing network. CEG addresses the UK and US pathway market through sixth form colleges in the
Partners of Ogier Fiduciary Services have agreed terms for a management buy-out of the business from the Ogier Group.
The deal closed on 1 February 2014 with final completion being subject to the regulatory approvals.
The management buy-out of Ogier Fiduciary Services is being backed by Electra Partners, an independent private equity fund manager with over 25 years’ experience of supporting businesses, including those in the financial services industry. On behalf of its major client, Electra Partners has agreed to invest GBP83m of equity in the GBP180m transaction.
Nick Kershaw (pictured), CEO of Ogier Group, says: "Ogier Fiduciary
Wasserstein & Co, on behalf of its private equity fund Wasserstein Partners III, has acquired all of the assets of Recorded Books from Haights Cross Communications (HCC), a K-12 educational and library publisher.
Northwestern Mutual and Lexington Partners are co-investing in the transaction with Wasserstein & Co.
With operations in the US, UK, and Australia, Recorded Books offers more than 13,500 exclusive unabridged audiobooks to the library, school, and retail markets. In addition, Recorded Books offers libraries more than 100,000 eBooks through its proprietary OneClick Digital platform, and 12 electronic resources including Zinio, a multi-platform distribution service for digital
American Securities, a US private equity firm, has acquired SeaStar Solutions in partnership with the company's management team from an affiliate of HIG Capital.
SeaStar is a manufacturer of precision-engineered vessel control systems and other specialised applications in marine and industrial end markets.
Financial terms of the transaction have not been disclosed.
SeaStar’s marine products include hydraulic steering, electronic steering (CAN Bus), joystick controls, mechanical steering, shift and throttle cables and controls, and replacement engine parts. SeaStar's industrial products include thermal solutions for the transportation and defence industries, and aftermarket components for outdoor power equipment.
SeaStar
Dallas-based Transition Capital Partners (TCP) has closed on the sale of its portfolio company, LT Energy Services, to B/E Aerospace, a manufacturer of aircraft cabin interior products.
The sale was part of B/E Aerospace’s previously announced acquisition of two oil field service companies for USD265m.
Houlihan Lokey served as the exclusive sell-side financial advisor to LT Energy Services and Locke Lord LLP acted as corporate legal counsel.
Acquired by TCP in April 2012, LT is headquartered in Houston and provides rental equipment and accommodation systems to major oil & gas producers. Under TCP’s ownership and direction, LT expanded
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