Allocations
Funds advised by CVC Capital Partners have agreed to acquire Domestic & General Group (D&G), in partnership with the existing management team, from Advent International.
Since acquiring the business through a public-to-private transaction in December 2007, Advent has worked alongside the original management team to increase revenues, expand D&G’s presence in continental Europe and introduce new products.
Under Advent’s ownership EBITDA has increased from GBP41m in FY 2008 to GBP83m in FY 2013 (which ended 31 March), while the number of appliances covered has grown to 22 million across the UK, Europe, Australia and New Zealand. Approximately one-quarter
Private equity firm Parthenon Capital Partners has acquired eSecLending, a securities lending agent.
Founded in 2000 to provide an alternative approach to securities lending, eSecLending is the largest independent securities lending agent. Clients include asset managers, pension funds, insurance companies and corporations, whose combined assets under management exceed USD2trn.
As part of the transaction, securities lending industry veteran Craig Starble will co-invest in eSecLending and join as the company’s chief executive officer. Starble was formerly an executive vice president and head of securities finance at State Street as well as chief executive officer of Premier Global Securities Lending.
Parsley Energy has closed on a USD65m preferred equity investment by Natural Gas Partners (NGP).
Parsley is a Midland, Texas-based company that was founded by its chief executive Bryan Sheffield in 2008. With nine rigs running, Parsley is one of the most active operators in the prolific Midland Basin. Since its inception, Parsley has drilled over 270 wells and is currently producing over 17,000 barrels of oil equivalent per day (Boepd) on a gross operated basis and over 5,000 Boepd on a net basis.
Parsley will continue to focus on vertical development in the Wolfberry play and will
Affiliates of GSO Capital Partners (GSO), a division of Blackstone, Wells Fargo and 3Bear management have finalised an equity commitment to 3Bear Energy to pursue the development of North American midstream oil and natural gas assets.
“I am pleased to announce the commitment to 3Bear from GSO and Wells Fargo,” says Bob Clark, chief executive and founder of 3Bear. “This is our second partnership with GSO, one of the preeminent investors in the energy industry. We previously partnered with GSO on the successful development of Bear Tracker Energy, and we look forward to working with them again as we
Funds managed by private equity firm CVC Capital Partners have entered into exclusive final negotiations with Campbell Soup Company following a firm offer made by CVC to acquire certain European activities (excluding the UK, Ireland, Middle East and Africa) of the company.
Campbell Europe is a consumer food business primarily active in Belgium, France, Germany, Sweden and Finland. Campbell Europe owns a portfolio of heritage consumer brands primarily in soups, sauces and bouillons such as Devos Lemmens, Royco, Liebig, Déli Soup, Erasco, Blå Band, Touch of Taste and Lacroix.
In fiscal 2012, Campbell Europe generated annual net sales
Newell Rubbermaid is to sell its Hardware business, which includes the Amerock, Ashland, Bulldog and Shur-Line brands, to Nova Capital, an acquirer of corporate and private equity portfolios.
Newell Rubbermaid is an American manufacturer and distributor of many household items.
The transaction is expected to close within the third calendar quarter, subject to certain customary conditions.
2013 sales for the Hardware business are estimated to be approximately USD255m. Gross proceeds from the transaction are expected to be USD214m, which includes the retention of accounts receivable. The company anticipates after-tax cash proceeds of approximately USD175m. Rothschild acted as
Law firm Eversheds has advised Pinstripe, a US-based recruitment process outsourcing (RPO) business, and its private equity backer Accel-KKR on the purchase of UK-based Ochre House.
The acquisition will form the largest independent provider of global RPO and strategic talent management solutions.
Financial investments from both leadership teams and technology-focused private equity firm Accel-KKR enabled the transaction.
Pinstripe and Ochre House’s combined presence includes 767 employees, serving 88 clients in 43 countries around the world. This footprint includes Ochre House’s 2012 acquisition of two strategic resourcing firms in the Middle East and North Africa, TAAHEED and Carmichael
Private equity firm Superior Capital Partners has recapitalised two businesses in the architectural glass and aluminium industry.
The deal was brought to Superior by industry veteran Leon Silverstein and included the acquisition of two businesses – Silverstein’s company Aldora Glass Holdings (based in Ft. Lauderdale, Florida) and Coastal Glass Distributors (based in Charleston, South Carolina).
The combined company will be led by Silverstein, who has spent his entire career in the architectural aluminium and glass industry. These investments represent the 14th and 15th acquisitions, and the sixth platform company, from Superior’s inaugural fund.
Aldora and Coastal are
Despite a slowdown in US retail and consumer merger and acquisition (M&A) activity in the second quarter of 2013, consumer sentiment and retail sales trends remain positive, along with strong corporate balance sheets and availability of private equity "dry powder," which should help trigger M&A activity during the second half of 2013.
According to PwC’s US retail and consumer deals insights Q2 2013 report, in the second quarter of 2013, there were a total of 21 deals worth USD50m or more in the retail and consumer sector, accounting for USD5.4bn in deal value, a 49 per cent decrease in
Private equity firm Harvest Partners’ portfolio company TruckPro has purchased CCI Corporation from Illinois Tool Works.
Terms of the transaction have not been disclosed.
TruckPro is one of the largest independent distributors of heavy duty aftermarket truck parts and accessories in the US. TruckPro distributes a full range of maintenance and repair products for heavy duty vehicles of substantially all makes and models. The company sells its products to a diverse, growing base of customers in numerous end markets, including small, regional and national trucking companies, private fleets, waste services companies, construction companies, municipalities, and independent repair shops.
Events
12 November, 2026 – 8:00 am
12 November, 2026 – 5:00 pm
