Allocations
Water Street Healthcare Partners, a private equity firm focused exclusively on the healthcare industry, has invested in CCBR-SYNARC.
Comprised of two businesses that specialise in outsourced clinical services, CCBR-SYNARC expands Water Street’s global presence in the pharmaceutical services sector. It also marks the healthcare firm’s first investment from its new fund, Water Street Healthcare Partners III, which it closed last year after receiving USD750m of investor commitments in less than eight weeks.
CCBR-SYNARC is a provider of clinical services to the world’s largest pharmaceutical and biotechnology companies. The company’s SYNARC business, based in Newark, California, specialises in imaging
Rockpool Investments, the private equity investment firm headed by Nicola Horlick, has completed a first close of a planned GBP1.675m investment in Chicago Rib Shack, the fast casual dining restaurant founded and operated by Christian Arden.
The EIS-qualifying investment, which was taken up by members of the Rockpool Network and investors in Rockpool’s EIS portfolio service, will fund the opening of new restaurants across the UK.
The new Chicago Rib Shack format is based on operating barbecue-themed restaurants in UK shopping malls. The first unit opened in September 2011 in the “world food court” at Westfield shopping centre
RJD Partners has exchanged contracts to realise its investment in Ipes, one of Europe’s leading providers of fund administration and outsourcing services, in a buyout backed by Silverfleet Capital.
The transaction values Ipes at GBP50m, giving a return to RJD of 3x its original investment. Final completion is subject to obtaining regulatory approval.
Ipes is the fourth successful realisation from RJD’s second fund, RJD Private Equity Fund Il, which closed in July 2007. The first three realisations were Teaching Personnel, TransLinc and Raphael Healthcare.
RJD backed the GBP25m buyout of Ipes from its original founder in September 2008,
Segulah IV has entered into an agreement to sell 100 per cent of the shares in Medstop Group to Oriola-KD.
The transaction, which is subject to the approvals of the Swedish Competition Authority (Konkurrensverket) and the Swedish Medical Products Agency (Läkemedelsverket), values the company to SEK1,460m including an estimate of a conditional earn-out payment. The transaction is expected to be completed in the second quarter of 2013.
The Medstop pharmacy chain has a total of 65 pharmacies located in the Stockholm, Gothenburg and Malmö areas. In 2012, net sales were SEK2,300m and EBITDA SEK99m, excluding non-recurring items. Medstop’s
Maven Capital Partners, a private equity and alternative asset manager, has completed the acquisition of Fundamental Tracker Investment Management (FTIM) from City of London Group.
The primary business of FTIM is The Munro UK Dividend Fund, a passive tracker OEIC which will be rebranded under the Maven name in due course.
The fund aims to track the returns of the largest shares in the UK stock market, using an innovative dividend forecast model to determine asset allocations. This enables fund weightings to be based on a more fundamental measure of business performance, rather than the price bias used
A consortium led by iCON Infrastructure Partners II and including EEA and 2OC has entered into agreements to fund and construct an environmentally friendly 19 MW CHP facility that will provide heat and power under long-term contracts to Thames Water Utilities and National Grid.
The facility is located in Beckton, East London where it will be integrated with National Grid’s gas pressure reduction station and is in close proximity to Thames Water’s desalination plant and sewage treatment works, all of which are critical infrastructure facilities which serve London.
The facility is expected to commence full operations in the
GenSight Biologics, a biopharmaceutical company focused on the development of ophthalmic therapeutics using gene therapy, has closed a EUR32m Series A financing.
The financing was co-led by Novartis Venture Fund, Abingworth, Versant Ventures and Index Ventures.
GenSight will use the funds to develop a gene replacement therapy for Leber’s hereditary optic neuropathy (LHON) and an optogenetic therapy for retinitis pigmentosa (RP). The lead product is expected to enter the clinic in 2013 in LHON patients.
Bernard Gilly, co-founder and chief executive of GenSight, is a successful bio-entrepreneur and was formerly CEO of Fovea Pharmaceuticals (which was acquired
Private equity firm Arlington Capital Partners has acquired MB Aerospace in partnership with the company’s management team.
Headquartered in Motherwell, UK, MB Aerospace is a provider of highly engineered components for the commercial and military aero-engine and industrial gas turbine markets.
MB Aerospace manufactures complex rings, casings and other engine components for a large and diversified portfolio of aero engine and industrial gas turbine platforms. The company’s blue-chip customer base includes large OEM’s such as Pratt & Whitney, Rolls-Royce, General Electric, Boeing, United Technologies, GKN, Mitsubishi Heavy Industries and Volvo Aerospace.
“We are excited about the opportunity
There were 665 private equity-backed buyout deals announced globally in Q1 2013, valued at a total of USD87bn, a 112 per cent increase from the USD41bn in the same quarter last year, according to Preqin.
However, the number of deals fell from 770 in Q4 2012 to 665 in the first quarter of 2013.
Food and agriculture and IT were the most prominent areas of buyout activity in Q1 2013, with 38 per cent and 30 per cent of the aggregate deal value invested in these sectors respectively. This was driven by the two largest deals in the quarter,
North Castle Partners and its co-investors have completed an investment of growth capital in Ignite USA, a developer and marketer of reusable, environmentally friendly thermal mugs and hydration bottles.
North Castle is a private equity firm focused on investments in consumer-driven companies that promote healthy, active and sustainable living.
The terms of the investment, which is being made in partnership with chief executive Sami El-Saden, were not disclosed.
Ignite currently sells its products in over 50 countries across club, mass, sporting goods, specialty, direct-to-consumer, and exclusive strategic partnerships.
"North Castle’s mission is to invest in companies
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