Allocations
Affiliates of middle-market private equity firm JF Lehman & Company have acquired IMECO of Iron Mountain, Missouri, in partnership with company management.
IMECO is a domestic provider of turnkey marine electro-mechanical solutions for US government and commercial customers.
The company’s integrated maritime solutions include the design, engineering, planning, procurement and installation of HVAC, cargo handling, electric steering, propulsion and fire suppression systems for government and commercial vessels.
Roy Arnold, president of IMECO, says: "JF Lehman & Company is an excellent partner for IMECO given the firm’s unique expertise and relationships as well as capital to accelerate our growth. We look
Riverside Partners, a Boston-based private equity firm, has completed an investment in Stinger Medical, a provider of mobile clinical workstations and medical technologies.
Riverside Partners’ investment was completed in partnership with the Stinger management team and the founder of the business.
Headquartered in Murfreesboro, Tennessee, Stinger Medical provides mobile medical workstations and related technologies for the acute care market. Stinger has a long history of innovation in the medical cart industry. Its team is dedicated to creating products that streamline workflow processes, reduce errors, enhance the quality of patient care and help providers comply with meaningful use guidelines. Stinger’s proprietary
2012 was the most active year in terms of “mega deals” in the UK since 2009, fuelled by a 15 per cent upturn in the number of very large transactions, according to Experian.
The number of very large mega deals worth over GBP1bn announced in 2012 increased from 34 in 2011 to 39 – worth a total of GBP128bn.
The majority of these mega deal transactions were cross-border in nature. It included the GBP5bn acquisition of NDS Group, a Middlesex pay TV software firm, by California-based Cisco Systems and the GBP4.6bn investment of Nottingham-based retail chemist group Alliance Boots
An affiliate of global private equity investment firm HIG Capital has completed the recapitalisation of Big Tex Trailer Manufacturing.
Headquartered in Mt Pleasant, Texas, Big Tex is a manufacturer of professional grade open utility, equipment, horse, livestock, and cargo trailers and truck beds in the US and Canada. Big Tex features a collection of prominent brands including Big Tex, CM, S&H, and Circle J.
Roman Krislav (pictured), principal of HIG Capital, says: "We are very pleased to be partnering with Ricky Baker and the talented Big Tex team and look forward to the company’s next phase of growth. Big Tex
American Capital’s portfolio company Potpourri Group (PGI) has acquired Cuddledown, a multi-channel retailer of high-end bedding related products.
PGI is a multi-brand direct marketer offering a broad product line of home decor, casual apparel, gifts and accessories through catalogues and the internet.
"Cuddledown’s product offering and merchandising expertise in the high-end bedding market makes the company an excellent addition to PGI’s diverse product mix and will give PGI the opportunity to expand into the bedding product sector," says Brian Graff, American Capital senior vice president and senior managing director.
American Capital first invested in PGI in 2005. Formed in 1998,
Private equity funds that closed in the final quarter of the year raised USD74.6bn, a similar amount to the USD75.0bn raised by funds that closed in the previous quarter, according to data from Preqin.
However, Preqin expect the Q4 figure to increase by around 10 to 20 per cent and exceed the Q3 total as further information becomes available.
Q2 was the strongest quarter of 2012 for fundraising, with 212 funds reaching a final close having collected USD90.2bn in commitments. The total capital raised by funds that closed in 2012 was USD311.7bn, slightly larger than the USD311.0bn raised by funds
Dyal Capital Partners has acquired a passive minority interest in Scopia Fund Management from members of the management team.
Based in New York, Scopia is an alternative asset management firm with approximately USD3.4bn of assets in long/short equity strategies.
Under the terms of the transaction, Scopia will retain complete control over its management, operations and investment process. It will continue to be led by Matt Sirovich and Jeremy Mindich, managing partners and co-portfolio managers, and the rest of the existing management team. Following the transaction, Scopia’s equity will be owned solely by the management team and Dyal.
Sirovich says: "We
The IFG Trust and Corporate Group has concluded its acquisition of Moore Group following receipt of regulatory approval from the Jersey Financial Services Commission (JFSC).
The acquisition marks a significant development in the group’s growth strategy within the international fund sector and adds the Far East to its geographic locations.
This is the first acquisition since IFG Trust and Corporate Group’s MBO in July 2012 when it separated from IFG Group plc. The group is currently undergoing a rebrand and is due to unveil its new corporate identity in February 2013.
Declan Kenny, chief executive of IFG Trust and Corporate
Consumer-focused private equity investment firm Brentwood Associates has completed the sale of Pacific Island Restaurants (PIR) to Nimes Capital.
PIR is the sole franchisee of Pizza Hut and Taco Bell throughout Hawaii, Guam and Saipan. Terms of the transaction have not been disclosed.
Since acquiring PIR in 2004, Brentwood has worked with the PIR management team to help them build on their market positions in both brands. The company implemented one of the most successful call centres in the Pizza Hut system, while also opening six new restaurants and acquiring six restaurants.
Anthony Choe, partner at Brentwood, says: "The PIR
HIG Growth Partners’ portfolio company, Community Intervention Services (CIS), has completed the acquisition of Access Family Services.
CIS was established by HIG in partnership with veteran behavioural healthcare executive Kevin Sheehan to acquire, develop and operate a national network of community-based mental health and substance abuse treatment programmes.
Access marks CIS’s second acquisition and provides the company with a strong regional presence in the Southeast.
Headquartered in Charlotte, North Carolina, Access was founded by Derek Bullard (pictured) in 1999 and has since grown into a leading provider of community-based outpatient behavioural health services delivered primarily in the patient’s natural environment as
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