Allocations
Private equity real estate fund manager Queensgate Investments has exchanged contracts to acquire Executive Offices Group, a central London serviced office business.
Executive Offices Group has provided office accommodation to businesses for over 20 years and represents a combination of high-quality central London real estate with an established operational company.
The group, which is being sold by Morgan Stanley Real Estate, controls 28 high-quality serviced offices, totalling approximately 513,700 sq ft in Mayfair, Belgravia and the City of London. Key assets include 33 St James’s Square, SW1, 78-79 Pall Mall, SW1, 53 Davies Street, W1, 84 Brook Street,
AXA Private Equity is to acquire, through its infrastructure funds, Unicredit’s 40 per cent stake in HISI (Holding di Investimenti in Sanità e Infrastrutture).
AXA Private Equity already owns 40 per cent of the share capital of HISI and, following this acquisition, the firm will own 80 per cent of the company’s capital.
HISI is a holding company which owns 65 per cent of Genesi Uno, an Italian project company awarded a 28 year concession to design, build and operate a 550 bed hospital in Legnano, Lombardy. The construction of the hospital commenced in March 2006 and completed
Climate Change Capital Private Equity’s (CPE) portfolio company Orège has completed an initial public offering on the French Euronext market, raising EUR20m of new capital to fund its next phase of growth and valuing the company at circa EUR60m.
CPE invested EUR6m in Orège, a French water technology company, in 2011.
CPE was the largest institutional investor pre-IPO and remains one of the largest investors post-IPO.
Alex Betts, a managing director of CPE, says: "The IPO places a market value on Orège of circa EUR60m, which represents a significant increase in the company’s valuation since CPE’s original investment.”
ECI Partners, the UK growth-focused mid-market private equity firm, has sold healthcare IT company CliniSys to Montagu Private Equity.
The exit has yielded ECI a 2.5x return on its investment.
Based in Chertsey, and with offices in Germany, France, Belgium and Spain, CliniSys is a provider of software solutions to clinical laboratories across Europe. The company’s laboratory information systems help customers deliver timely and accurate test results to a wide range of constituents across the healthcare delivery chain. Solutions have been successfully deployed in over 2,000 laboratories with more than 22,000 users in 34 countries.
Technological advances,
Digital music provider I Like Music is on a recruitment drive after securing a GBP700,000 growth capital deal as part of Santander’s Breakthrough programme.
The Richmond-based company, which supplies music to businesses including the BBC and Funky Pigeon, is looking to recruit an additional 10 staff to boost its sales and account management teams to launch a host of new services.
I Like Music owns the physical music collection created over 55 years by Gold Badge and award winning radio producer Phil “The Collector” Swern. Swern, a director of I Like Music, continues to keep the collection updated
Solar market specialist Sungevity has secured USD15m in new equity financings, including an investment from venture capital firm GE Ventures.
The funding will be used to accelerate the company’s capital efficient growth initiatives with a primary focus on the development of new service offerings that will diversify Sungevity’s business and grow the company’s global footprint.
The new funding follows an announcement by Sungevity in January that it had secured USD125m in combined venture capital and project financing.
The company currently services nine US states including Arizona, California, Colorado, Connecticut, Delaware, Maryland, Massachusetts, New Jersey and New York. The
Irving Place Capital and funds managed by Oaktree Capital Management have entered into a definitive agreement to sell their ownership interests in Chesapeake to The Carlyle Group.
Chesapeake is a supplier of specialty paperboard packaging, including folding cartons, leaflets and labels, for the pharmaceutical, confectionary, and premium drinks markets. Founded in 1918, Chesapeake is headquartered in Nottingham, UK and serves a blue-chip customer base from 38 sites located throughout the UK, continental Europe, the US and Asia.
Irving Place Capital and Oaktree Capital completed the acquisition and recapitalisation of Chesapeake in May 2009, supporting the transition from a
AVT, a specialist in automated retailing systems, customised kiosks and self service stores, has settled trade payables of approximately USD1.1m in exchange for the issuance of shares of its common stock to Ironridge Consumer Co, a division of Ironridge Global IV.
The capital will be used to build company-owned automated retailing systems, which will be rapidly deployed and will create recurring revenue streams for AVT.
One of AVT’s business goals for 2013 was to produce more company-owned systems, and derive ongoing revenues from these systems. While AVT’s core business continues to be the design and manufacturing of self-service
Los Angeles-based private equity firm CounterPoint Capital Partners has completed its third acquisition in as many months with the recent addition of The Bradshaw Group into its platform company, Parts Now. Financial terms have not been disclosed.
Founded in 1990, The Bradshaw Group is a distributor of desktop laser and production printer parts and supplies. It is also the only production print distributor with direct IBM/InfoPrint, Océ and HP relationships. Combined with the closings of Sunrise Fishing in April and West Bay Marketing in May, CounterPoint’s June acquisition of The Bradshaw Group marks the firm’s third acquisition in what has proven
Acquisitions are currently high on the agenda in many German M&A departments – companies are showing increasing confidence in the mergers and acquisitions market and relying on their own liquidity to finance transactions.
In contrast, bankers and advisers in the market are working primarily on sales at present. Both groups view market consolidation as an increasingly important deal driver.
Those are the key findings of the survey of the M&A panel II 2013, polled now for the eighth time by CMS Hasche Sigle and FINANCE magazine. The heads of the M&A departments at German companies plus leading investment
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