RCP Advisors, an independent sponsor of private equity funds-of-funds, secondary funds, and co-investment funds focused on North American lower middle market buyouts, has announced the closing of its first co-investment fund, the USD110 million RCPDirect, LP.   “RCP’s strategy has always been to partner with the best managers in the lower middle market. These relationships will provide RCPDirect with compelling investment opportunities and diligence resources,” says Dave McCoy, Principal of RCP Advisors and RCPDirect’s Portfolio Manager. “We are pleased by the confidence our LPs have placed in us and are excited about the opportunity to expand the co-investment strategy within

The takeover bid for Parseq (AIM: PSQ) by CEO Rami Cassis, backed by Nova Capital Management and Dover Street VII LLP (the close-ended private investment fund controlled by HarbourVest Partners, LLC), has been declared unconditional.  The offer, at 9p per Parseq share, was made via CNH Bidco, a newly-incorporated company formed and controlled by Rami Cassis, Nova and Dover Street. Acceptances from 246,672,233 Parseq Shares, representing approximately 54.13 per cent. of the issued share capital of Parseq, had been received by 1 December 2011.   Parseq provides mobile and online banking software and technology-led outsourcing services to a blue-chip client

Tri-Star Electronics International, a portfolio company of Brockway Moran & Partners, has been acquired by an affiliate of Carlisle Companies Incorporated for USD285 million. The transaction was led by Jon Nemo, Chris Rogers, Chris Smith and Mike Rohman from the firm’s Aerospace, Defense & Government Services (ADG) Group, along with Darwin Olympia from the firm’s Richmond office.  Harris Williams & Co acted as the lead advisor to Tri-Star.   “Brockway Moran & Partners and Harris Williams & Co. have a long history of working together and we are excited to represent them in the sale of Tri-Star to Carlisle. Tri-Star is a

UK-based alternative asset management company Duet Group has invested into Expatcare Health International Ltd, a Health Maintenance Organisation (HMO) based in Nigeria. This investment reflects the growing commitment of Duet to growth capital companies in Africa who are looking to expand their operations. The investment will be made through a convertible instrument converting into a majority stake in the business. Health insurance in Africa is a sector with double-digit growth due to the low penetration of private health insurance and the rapidly increasing middle class. According to Nigeria’s National Insurance Commission, only an estimated 6% of approximately 150 million people

AXA Private Equity is selling its stake in the transport packaging company KTP Kunststoff Palettentechnik (KTP) to Andreas Wintrich and a new investor. AXA Private Equity acquired a majority stake in the company, which is headquartered in Bous, in 2006. Sales have since almost doubled, despite the economic downturn. As a result of the sale, minority shareholder Andreas Wintrich will again become the majority shareholder.   KTP develops and produces reusable transport packaging, including containers, pallets and carrier systems. KTP also offers tailored packaging solutions to its customers. The products are superior to steel rack boxes in terms of their

Pitango Venture Capital and Index Ventures have completed another round of investment in Evolven Software, a provider of change and configuration management software for the modern data centre and cloud. This round of financing will be used for further development of Evolven’s SaaS-based Change Monitoring solution, targeting delivery to both the US and European markets. Evolven is also available as an on-premise option. "Evolven’s SaaS model has a strong first-mover advantage, and an unprecedented opportunity to redefine configuration management, by making it accessible and consumable across IT operations,” says Rona Segev-Gal (pictured), General Partner at Pitango Venture Capital, “Evolven is

Interchem SA, the leading Polish wholesaler of household products and personal care goods, controlled by Resource Partners, has finalised the acquisition of Polbita Sp. z o.o., the owner and operator of Drogerie Natura, the Polish personal care retail chain. Interchem was acquired in January 2011 by Resource Partners, a private equity fund focusing on consumer goods companies in Central and Eastern Europe. In May 2010, Resource Partners established a strategic partnership with AXA Private Equity in Central and Eastern Europe and this collaboration has recently been strengthened which has allowed the financing of this build-up.   The combined companies will

WFEL, the Stockport-based defence engineering group which is backed by UK mid-market private equity house Dunedin, has secured a significant contract to supply GBP57 million of tactical military bridges to the Swiss armed forces. This agreement follows a highly competitive two-year international procurement contest and as such strengthens WFEL’s position as the world leader in its market. The deal also typifies Dunedin’s approach of investing in businesses with international growth opportunities. 
 Dunedin director, Dougal Bennett (pictured), who sits on WFEL’s board, says: “Dunedin was attracted to WFEL on account of its strong position in a highly specialised market and its