Managers
MJ Hudson’s annual Private Equity Fund Terms Research for 2017 finds that there has been improved GP/LP alignment through stronger fund governance in the private equity world.
Noerr has advised listed venture capital company Aurelius Equity Opportunities on the largest exit in the company’s history to date – the sale of The Secop Group, which has production facilities and branches worldwide, to Japanese group Nidec at a valuation of EUR185 million.
At the same time, Aurelius has proposed that the dividends to be announced in the upcoming general meeting be doubled.
Secop is a global supplier of specialised compressors for refrigerators and freezers in the “household” and “light commercial” segments. Secop’s Household division is a leading supplier of compressors for refrigerators and freezers in Europe. Its
NorthEdge Capital has invested in environmental and industrial services specialist Future Industrial Services (FIS), backing the management buy-out from its Irish listed parent company, One51, at an equity value of GBP16 million.
Headquartered in Kirkby, Merseyside, FIS works with clients including government, major utility and multi-national companies to provide a range of cost-effective solutions to waste management and decontamination requirements.
Founded in 1999, the business operates a 75-strong fleet of specialist vehicles and owns a market leading share of articulated vacuum tankers able to carry a wide range of products. Operating from eight sites across the UK, from the
HKE Holdings, an entity owned by investment funds managed by KKR, intends to make a tender offer for the common shares of Hitachi Kokusai Electric.
Hitachi Kokusai operates two business segments: a video and communication solutions business engaged in video security, IoT high-reliability wireless, and railroad solutions; and a thin-film process solutions business focusing on semiconductor manufacturing equipment as well as systems maintenance and sales of parts and used equipment.
In connection with the tender offer, the offeror has entered into an agreement with Hitachi, the lead shareholder in Hitachi Kokusai, and HVJ Holdings, an entity backed by funds
The international finance centre of Guernsey has launched two of its new Private Investment Funds (PIFs), four months after the new structure was developed and released to the global investment community.
GMT Communications Partners, with the assistance of the Guernsey offices of Northern Trust and law firm Carey Olsen, has launched a PIF to take advantage of the structure’s flexibility, simplicity, lower costs and the speed at which it can be brought to market.
Dominic Wheatley, CEO of the island’s promotional agency Guernsey Finance, says that the unveiling of two funds in a fortnight is a very promising start
Vitol Africa has acquired Shell’s 20 per cent shareholding in Vivo Energy, meaning that the firm, in conjunction with funds advised by Helios Investment Partners, now owns 100 per cent of Vivo Energy.
Vivo Energy, the company behind the Shell brand in Africa, was created by Helios, Vitol and Shell in 2011 when Shell divested its majority share in its downstream operations in 14 African markets.
Since then, its shareholders have made significant investments in people and assets, expanding the retail network from 1,300 to 1,780+ stations, its presence to 16 countries and enhancing its industry-leading operational and safety
In the first quarter of 2017, Israeli high-tech companies raised a total of USD1.03 billion in 155 transactions, a 4 per cent decrease from the USD1.07 billion raised in 165 deals in the previous quarter and 8 per cent lower than the USD1.11 billion raised in 174 deals in Q1 2016.
The number of transactions was down 10 per cent in Q1 2017 compared to the quarterly average of 172 deals in the previous three years.
The average financing round reflected a minor increase, with USD6.6 million, compared to the USD6.5 million and USD6.4 million averages of Q4 2016
Global fintech and payment solutions provider Tuxedo Money Solutions has been acquired by Erik Fällström and Andreas H Tuczka, of Aldridge EDC Specialty Finance Partners (AEDC).
The deal completed on 20 April, following the approval of the FCA.
Former co-founder of HOIST Finance, Erik Fällström, and former partner at Lone Star Europe, Andreas Tuczka, will support Tuxedo CEO John Sharman in delivering the company’s growth plans across Europe and beyond.
With extensive experience within financial services, the new investors will help to drive Tuxedo’s diversification and growth on four fronts: customised, white label card and payment programmes; PayTech platform
Funds managed by Cornerstone Partners and Oaktree Capital Management are to acquire IT Kontrakt, a vendor of IT services outsourcing in Poland, from Work Service (WS Group).
The preliminary share purchase agreement was concluded on 31 March 2017.
The transaction requires approvals from relevant third parties, including the consent of the Polish competition authority (UOKiK).
ITKontrakt is a leading player in the IT services outsourcing market in Poland, offering staff augmentation, custom software solutions and managed services for blue-chip multinational clients from various industries including pharmaceuticals, financial services, TMT and automotive.
ITKontrakt has been operating in the
KL Outdoor, maker of Sun Dolphin kayaks, and GSC Technologies, maker of Future Beach kayaks, are to combine to form a single company.
“The merger will create the largest kayak company in the world,” says Mark Becker, partner at Boca Raton-based private equity firm New Water Capital.
Affiliates of New Water Capital completed significant investments in KL Outdoor in December 2016 and GSC Technologies on 7 April 2017.
The merger is expected to result in a company with increased capacity to accommodate fast growing customer demands, a broader product offering and brand portfolio, strengthened financial standing and multiple
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