Managers
Barings has acted as mandated lead arranger of senior secured credit facilities to support the acquisition of UK insurance brokerage Lark Group by Bowmark Capital-backed Aston Scott.
The combination of Aston Scott, a leading provider of commercial insurance products to small and medium-sized enterprises in the UK market, and Lark’s specialised capabilities will create one of the UK’s top 20 independent commercial insurance brokers and employee benefits practices with 600 staff placing more than GBP250 million in gross premiums from 18 offices across the UK.
In addition to senior secured unitranche funding, Barings is also providing a committed acquisition
Private equity firm MidOcean Partners is to sell Water Pik, a producer of branded oral health products and replacement showerheads, to Church & Dwight Co, a specialist in personal care, household and specialty products under the Arm & Hammer brand name and other well-known trademarks, for approximately USD1billion in cash.
The transaction is expected to close in the third quarter of 2017, subject to customary closing conditions and regulatory approvals.
Water Pik is the No1 water flosser brand and the No1 replacement shower head brand in the US. Water Pik’s branded oral health business offers a complete line of
3i Group (3i) has sold Mémora, an Iberian funeral services company, to Ontario Teachers’ Pension Plan (Ontario Teachers’) in a deal worth GBP117 million. This compares to a valuation of GBP86 million at 31 March 2017.
Mémora was founded in 2001 and is headquartered in Barcelona. It is a leading funeral services player in the Iberian market, with a total of 115 parlours, 24 crematoriums, 13 cemeteries and 91 retail outlets in the Iberian Peninsula. It has a leading position in Barcelona as well as in other regional markets in Spain and Portugal, and a strong foothold across its remaining
Private equity fund manager YFM Equity Partners (YFM) has invested GBP3 million in Friska Limited (Friska), a Bristol based chain of food-to-go restaurants offering ‘feel good food’ throughout the day.
The funding will be used to support the roll out of the brand into new cities across the UK.
This investment was made by the British Smaller Companies Venture Capital Trusts alongside ongoing support from Santander.
Friska was founded in 2009 by Griff Holland and Ed Brown, trading from a single site in central Bristol and based on a founding principle of delivering ‘feel good food’ made from
Align Capital Partners (ACP) has completed a growth investment in Pleatco, a family-owned specialist in the pool and spa filtration industry.
Pleatco designs and manufactures the most advanced, scientifically engineered filtration products for pools and spas. Pleatco provides over 700 unique, aftermarket filtration products for pool and spa retailers, distributors, online retailers, and original equipment manufacturers. The Company services customers throughout the United States, Canada and Europe from its facilities in New York, California, and Mexico.
“Pleatco has and will continue to thrive under the leadership of CEO Howard Smith and a strong management team due to its focus
Virtualstock, a digital supply chain specialist, has closed a USD6 million investment round with Notion Capital, a European B2B SaaS Venture Capital (VC) firm, to support its next phase of growth.
Virtualstock’s goal is to transform global B2B supply chains and marketplaces through its unique ability to seamlessly and rapidly connect systems together. The business’ core platform (The Edge) is already used by leading retailers including Tesco, John Lewis, Sainsbury’s, Argos and Dixons Carphone to support their digital and omni-channel strategies. The company’s platform brings increased transparency and simplicity to a company’s supply chain meaning customers can take advantage of
RSM has advised on the sale of Boweld Truck Bodies to German based manufacturer Meiller.
Based in Holywell, Flintshire, Boweld specialises in the design and manufacture of steel tipping bodies and auxiliary equipment – supporting a range of clients in the commercial motor industry in the UK.
The RSM team, led by corporate finance partner James Wild with support from Nick Wyatt and James Jarvis, acted for the shareholders of Boweld on the transaction. Hill Dickinson’s corporate partner Ian Riggs with assistance from Sean Lightfoot acted as legal advisors to the shareholders.
James Wild, corporate finance partner at
Crown Capital Partners, a provider of growth capital to mid-market companies, has completed a USD50 million closing for Crown Capital Fund IV, bringing the current total capital committed to the Fund to USD225 million.
To date, USD190 million has been invested by the Fund in nine transactions, and, net of repayments, USD167 million is currently invested.
“This upsizing further underscores the quality of our growing portfolio and the strong demand from our institutional limited partners,” says Chris Johnson (pictured), Crown’s President & CEO. “We continue to deliver on our key milestones. We have completed four transactions to date in
Catapult’s portfolio business, BWB Consulting, one of the UK’s leading design engineering consultancies, has become part of the global transport engineering giant CAF Group.
The transaction, which will see BWB embark on significant expansion in the UK and abroad, has delivered an excellent return for the Catapult Growth Fund with an initial cash return in excess of 2.5x. Catapult Growth Fund also retains a significant portion of its shareholding in the business.
A multi award-winning business, delivering advice and solutions to clients in the property, development and construction industries, BWB employs more than 300 people across seven offices in
The German mid-cap LBO market generated another round of strong growth in the first half of 2017. The latest MidCapMonitor prepared by the investment bank GCA Altium that regularly analyses leveraged buyout finance transactions with a credit volume of between EUR20 million and EUR500 million recorded 41 transactions in the first six months of 2017. This represents a rise of 46 per cent compared with the same period last year.
The proportion of new finance transactions, that is, acquisition financing, did slip from 56 per cent of transactions for the entire year of 2016 to 47 per cent for the
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