Allocations
Law firm Taylor Wessing has advised Rutland Partners on the acquisition of Pizza Hut’s UK dine-in restaurant business from Yum! Brands, the global owners of the Pizza Hut brand.
In the deal, Rutland acquired the share capital of Pizza Hut UK, the company which owns 330 dine in restaurants and will operate them under a franchise agreement from Yum!
Rutland will invest GBP20m in support of a broad GBP60m refurbishment and restructuring programme of the business.
Yum! will continue to act as franchisor for the dine in business whilst also growing the Pizza Hut delivery business in the UK.
Nick
Law firm Clifford Chance has advised CCM Pharma Midco, a vehicle formed by Cinven Funds, on its purchase of Amdipharm.
The transaction values Amdipharm at GBP365m.
Amdipharm is a family-owned international niche pharmaceuticals business founded by Bhikhu and Vijay Patel, which buys "legacy products" – typically off-patent generic drugs in niche disease areas.
Cinven client relationship partner Jonny Myers says: "Clifford Chance is delighted to have advised Cinven on this deal, the second acquisition we have worked on together in as many months."
In August the firm acted for Cinven on its acquisition of the generics business Mercury Pharma. The
The offshore M&A market was one of the few world markets to have experienced growth in the cumulative value of transactions in Q3 2012 compared to the same period last year, according to a report released by Appleby.
The latest edition of Offshore-i, the firm’s quarterly report which provides data and insight on merger and acquisition activity in major offshore financial centres, focuses on Q3 2012.
In the third quarter of 2012 there was a 10 per cent drop in the volume, and a 17 per cent drop in the value, of transactions that took place offshore compared to Q2.
MNX, a provider of transportation and logistics services, has been acquired by private equity firm The Riverside Company.
The deal will provide MNX with the ability to fund future expansion and acquisitions.
"MNX’s compelling service offerings and continued international expansion have contributed to a strong pipeline of opportunities that position the company for growth," says MNX chief executive Scott Cannon. "Riverside has a stellar reputation for helping companies accelerate development. We believe the acquisition marries nicely with our existing expansion plans while also benefiting our existing customers and employees. We could not be more thrilled about the opportunities presented by
Edmond de Rothschild Investment Partners’ portfolio company Vessix Vascular has been acquired by Boston Scientific in a deal worth up to USD425m.
Of this, USD125m will be paid at the closing with the balance upon achievement of certain clinical and sales milestones.
Vessix has developed a catheter-based renal denervation system for the treatment of uncontrolled hypertension.
Edmond de Rothschild Investment Partners holds a significant stake in Vessix in which it invested USD10m in June 2011 generating a return multiple of up to 10x.

Raphaël Wisniewski, Edmond de Rothschild Investment Partners’ representative on Vessix’s board, says: "We are proud to have
Maitland, a provider of fund administration, multi-jurisdictional legal, tax, fiduciary and investment advisory services, has acquired Admiral Administration.
Admiral is a hedge fund administrator with offices in the Cayman Islands; Dublin, Ireland; Halifax, Nova Scotia; and Richmond, Virginia.
It combines best of breed technology including Advent Geneva, Advent Partner and Paladyne with qualified staff to provide clients with a customised solution to meet the specific needs of the alternative investments industry including hedge funds, private equity funds, Ucits and other regulated funds.
The acquisition of Admiral supports Maitland’s strategy of targeted growth, expanded global reach and leadership in the fund
Private equity fund manager Horizon Capital has purchased four per cent of shares of Tinkoff Credit Systems (TCS Bank) for USD40m.
TCS is a credit card company and the first online bank in Russia.
It is controlled 100 per cent by Egidaco Investments.
The funding for this deal comes from Horizon Capital’s Emerging Europe Growth Fund II (EEGF II), which was raised in 2008.
Oleg Tinkov, founder of TCS Bank, says: “We are proud of the business we have built so far. Russia has a very large and growing credit card market, and we are very well positioned to capture
Gulf Oil Corporation, part of the Hinduja Group, has reached an agreement to acquire Houghton International.
Houghton, a supplier of metal working fluids, will join a portfolio of global brands owned by the Hinduja group including Ashok Leyland (truck and bus manufacturing) and Gulf Oil International (production and marketing of gasoline, lubricants, greases and other materials for industrial applications).
The acquisition of Houghton will be made by a UK registered 100 per cent owned subsidiary of Gulf Oil Corporation.
“This is an extremely exciting development and we are delighted to welcome Houghton International and its highly talented and committed staff
ALI Group is to acquire Scotsman Industries from an affiliate of private equity firm Warburg Pincus.
ALI Group is to acquire Scotsman Industries from an affiliate of private equity firm Warburg Pincus.
Terms of the transaction have not been disclosed.
Luciano Berti, ALI Group’s chairman and chief executive officer, says: "We are very pleased to welcome Scotsman into the ALI Group. The Scotsman acquisition is strategically important to our Group as it strengthens our position as leader in the global commercial foodservice equipment industry. Scotsman’s leadership in the ice machine industry opens for the ALI Group new opportunities and adds
ECI, the UK growth focused mid-market private equity firm, has sold healthcare outsourcer Harmoni to CareUK.
Harmoni is a UK provider of outsourced healthcare services including Out of Hours, 111, prisoner healthcare and IT services, providing services to over eight million people in the UK.
Harmoni has grown considerably over recent years with annualised sales growth of 39 per cent (CAGR) since 2008, reaching GBP99m for the year ending 31 March 2012. The company almost tripled its workforce over the same period of time.
Harmoni was a spinout from a former ECI healthcare investment WCI Group, which in
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