Allocations
HIG Growth Partners has partnered with CDI Computer Dealers’ owners and management team to make an investment in the company.
Founded in 1981, CDI is a provider of refurbished technology to the North American education market.
The financial terms of the investment were not disclosed.
“HIG’s investment in CDI provides additional resources, capital and strategic guidance that will enable us to expand our product and service offering to even better serve our core education customer base,” says Saar Pikar, CEO of CDI.
Steve Loose, a managing director of HIG, says: “Through a combination of both organic growth
KKR has partnered with the existing management team of Sedgwick Claims Management Services to acquire majority ownership of the claims and productivity management solutions provider for approximately USD2.4bn.
The business is being acquired from its current group of investors, which includes Hellman & Friedman and Stone Point Capital.
"We couldn't ask for a better partner in the next stage of Sedgwick's evolution," says David A North, president and CEO of Sedgwick. "KKR has an exceptional record of investing in financial services companies and will be a valuable strategic resource for our organisation. We share a commitment to continued innovation
Private equity firm Spire Capital has partnered with Grant Evans and the founders of Telekenex, a provider of hosted communications, security solutions and managed network/IT solutions to small and medium-sized business (SMB) and enterprise customers.
The company's offerings include hosted Voice-over Internet Protocol (VoIP), managed access/MPLS services, security solutions and value-added managed services.
This marks Spire's second investment in Spire's third fund.
Founded in San Francisco, California in 1994, Telekenex serves over 800 customers in the US, which range from SMB customers to larger, multi-location enterprises and offer bundled, hosted managed IT solutions to a variety of sectors
Olympus Partners has teamed up with Goldman Sachs to acquire PSAV, an event technology and audiovisual company.
PSAV provides event technology services within the hotel, resort and conference centre industry.
Terms of the transaction were not disclosed.
“We are thrilled to complete our acquisition by Olympus Partners and Goldman Sachs,” says Mike McIlwain, president and CEO of PSAV. “We are eager to work with them to continue providing exceptional service and value to more customers in more geographies.”
“We are excited to partner with Goldman Sachs to invest in PSAV, a market leader with an unmatched range
Private equity firm Cyprium Partners has exited from its investment in Alpha Sintered Metals (ASM), through a sale of the company to management and O2 Investment Partners.
Headquartered in Ridgway, Pennsylvania, ASM is a manufacturer of high-precision powder metal components for the automotive, small engine, recreational vehicle, lawn and garden, commercial vehicle and agricultural equipment industries.
In addition to its original subordinated debt and equity position, Cyprium invested additional capital in ASM to allow the company to establish off-shore manufacturing operations as well as to facilitate the acquisition of a competitor in the stainless steel exhaust and turbocharger components
Pan-European mid-market private equity fund Agilitas has invested in the management buyout of the waste management businesses of Impetus Waste Management, a waste management and property group in the North-East of England.
The consideration for the acquisition is not being disclosed. Impetus was founded in 2003.
In 2007 Ian Hunter became the majority shareholder of Impetus. Along with the existing management team he has grown the group to become one of the largest waste management companies in the North East of England. The waste management business handles over 500,000 tonnes per annum of commercial, industrial and municipal waste through
Alternative asset manager The Carlyle Group and Investec Asset Management have agreed to invest in J&J Africa, a pan-African logistics company specialising in the road transportation of general cargo along the Beira corridor, one of Southern Africa’s key trade routes.
Financial terms have not been disclosed. The transaction is expected to close in the first quarter of 2014.
Marlon Chigwende, managing director and co-head of the Carlyle Sub-Saharan Africa Fund, says: “Carlyle brings strong expertise working with companies in the transportation sector, along with deep experience in emerging markets, including Africa. We have a particularly strong track record in
Rollins has signed a definitive purchase agreement to acquire the assets and operations of Allpest, an independent pest control provider in Western Australia.
The acquisition is expected to close in February and is Rollins' first business venture in Australia.
Established in 1959 and headquartered in Perth, Allpest recorded revenues of approximately USD25m for 2013.
In addition to traditional residential, commercial and termite service offerings, Allpest provides consulting services around the globe on pre-border protection of Australia's biosecurity and provides specialised offerings to Australia's mining and oil and gas sectors.
Gary W Rollins, vice chairman and chief executive
With over USD1trn in US mergers and acquisitions announced last year, the US remains the strongest M&A market.
According to PwC’s 17th Annual CEO Survey, acquisition strategies are ripe for change as CEOs become comfortable with their positioning in the changing deals arena, indicating a continued uptick in deal flow throughout the year.
As a result, more US executives are planning to maintain and pursue new joint ventures and business alliances in 2014 as they seek new ways of collaboration to accelerate growth and to capture innovative and disruptive technologies even faster. As companies continue to seek new ways
Funds managed by HgCapital are to acquire a majority stake holding in the parent company of Zenith Vehicle Contracts Group from Morgan Stanley Global Private Equity (MSPE), subject to regulatory approvals.
The contract hire and leasing company was recently ranked 12th in the FN50’s list of the UK’s top 50 contract hire companies, with a risk fleet of 27,300 vehicles.
Tim Buchan, chief executive officer, says: “We thank MSPE for their contribution and are pleased to welcome HgCapital as our new partner. We look forward to working together on our long term strategy of continued investment in product and
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