Allocations
After an explosion in internet-related investment activity in Europe in 2012, activity in the first half of 2013 fell temporarily by one third versus the same period last year as investors temporarily paused for breath, according to analysis by Magister Advisors, an M&A advisory firm to the technology industry.
The analysis is confined to investments with a meaningful value of USD10m or more. During the entire period however, the average investment value held firm at USD29m. All signs point to a resumption of significant internet activity later in 2013, as VCs position themselves to invest actively again in the sector.
The US wireless industry promises to get more interesting – and much more competitive – with the expected closing on 10 July of SoftBank’s USD21.6bn acquisition of Sprint Nextel, and Sprint’s purchase of spectrum-rich Clearwire.
Law firm Morrison & Foerster has been advising SoftBank in both the Sprint and Clearwire transactions, which were cleared by the FCC just before the 4 July holiday.
In addition to handling the M&A assignment, MoFo was litigation and antitrust counsel to SoftBank and worked on other aspects of both transactions. In the process, MoFo helped SoftBank prevail over DISH Network, which had
August Equity has completed an investment in Minerva Education, the first investment through its new fund, August Equity Partners III.
Minerva consists of Eaton Square School Group (ESS) and Ravenstone School.
ESS, founded in 1981, is a highly sought after London-based schools group with sites in Chelsea, Pimlico, Belgravia and Knightsbridge. ESS currently has over 650 pupils on roll and has recently completed buildings works to enhance capacity across the group.
Ravenstone, founded in 2007, offers pre-prep and prep education from two excellent locations in South Kensington and Marble Arch. The schools have over 100 pupils on roll
Rising valuations and an improving house building industry followed by a recovery in construction will see the number of deals in the building products sector increase in the coming years, according to accountancy and business advisory firm BDO.
In its report, Rebuilding for the future, which analysed 375 transactions in the sector since 2008, it found that dealflow in 2012 was 65 per cent higher compared to 2010, a low point for the sector, and that the trend was set to continue.
Distressed acquisitions have become commonplace in the past few years. This has been consistent with increasing
US venture capital firms raised USD2.9bn from 44 funds during the second quarter of 2013, a decrease of 33 per cent compared to the level of dollar commitments raised during the first quarter of 2013 but equal to the number of funds, according to Thomson Reuters and the National Venture Capital Association (NVCA).
The dollar commitments raised during the second quarter of 2013 is a 54 per cent decline from the levels raised during the comparable period in 2012 and marks the lowest quarter for venture capital fundraising, by dollars, since the third quarter of 2011.
The top
Private equity firm MidOcean Partners has acquired, along with Vulcan Capital and other investors, Water Pik, a marketer and supplier of branded health and wellness products.
Water Pik has become the market leader in both its oral health and replacement showerhead business segments. Water Pik’s oral health business offers a complete line of products, including its line of water flossers, a clinically proven sonic toothbrush and a full line of professional dental products. Water Pik’s replacement showerhead business leverages its technology across a broad array of platforms, including EcoFlow (water conservation) and EasySelect (adjustable in-handle water pressure and spray
UK targeted mergers and acquisitions saw 485 deals valued at GBP40.6bn in the first half of 2013, down 16.5 per cent and 10.9 per cent by volume and value, respectively, from H1 2012 when they were 581 deals valued at GBP45.6bn, according to data released by MergerMarket.
A decline in deal value from Q1 to Q2 was responsible for the overall H1 drop. Q2 deals valued at GBP15.1bn were 40.6 per cent down from Q1 2013 (GBP25.5bn) and 46.7 per cent down from Q2 2012 (GBP28.4bn).
The UK however, became more active in the search for companies outside
MPM Capital, a life science-dedicated venture investment firm, has acquired a minority stake in InformedDNA, the largest independent US provider of genetic counselling and genetic benefits management services.
The investment from MPM’s SunStates Fund will be used to expand InformedDNA’s current genetic benefits utilisation management offerings while also funding the development of new specialty genetic services for the pharmaceutical industry.
"InformedDNA’s genetics expertise combined with MPM’s strong track record in biotechnology, specialty pharmaceutical and medical technology investment made this the perfect match," says InformedDNA chief executive officer David Nixon.
InformedDNA’s flagship enterprise is its national network of
Edmond de Rothschild Investment Partners has made the third investment of BioDiscovery 4, its fourth fund dedicated to life sciences, through its participation in the series B financing round of OncoEthix.
OncoEthix is a Swiss-based oncology drug development company founded in 2009. Edmond de Rothschild Investment Partners participated in the Series B financing round of CHF18m alongside SV Life Sciences and existing investors Index Ventures and Endeavour Vision.
The funds will be used for the clinical development of OTX015, a small molecule inhibitor targeting BET bromodomain proteins 2/3/4. The BET proteins are considered potential cancer targets because of
Private equity firm Metric Capital Partners (MCP) has completed its investment in Change of Scandinavia, a leading player in the Nordic lingerie and apparel segment.
Headquartered in Farum, Denmark, Change has a strong focus on comfort, value for money, in-store service levels and large product offering with over 100 custom sizes.
The company was established in 1995 by Claus Jensen, its current chief executive and lead shareholder. Following the opening of its first concept store in Copenhagen in 2001, Change has since enjoyed a strong and steady growth path.
Change benefits from a vertically integrated value chain
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