Managers
JTC Group, a provider of fund, corporate and fiduciary services, has expanded its global footprint to include the Netherlands through the acquisition of New Amsterdam Cititrust (NACT).
The deal, which remains subject to regulatory approvals, will see the entire management team and all staff remain with the organisation and join JTC, with completion of the transaction expected in mid-2017.
NACT was founded in 1981 and services a client portfolio ranging from entrepreneurs and their families to venture capitalists, private equity firms and publicly listed companies. The business provides a range of corporate and administration services, including: company formation, corporate
Venture capital (VC) deal volume continued to fall in Q1 2017 with only 2,716 deals completed globally during the period compared to 3,201 in Q4 2016, according to Venture Pulse Q1 2017 – the quarterly global VC trends report by KPMG Enterprise.
Despite the fourth straight quarter of declining deal activity, VC investment grew to USD26.8 billion in Q1 17. The increase in funding was strongly affected by a resurgence in mega-deals, including Airbnb's USD1 billion+ Series F round, and Grail's USD914 million Series B tranche.
Globally, the Americas led VC investment, accounting for USD17.8 billion. The US made up
SV Health Investors, the venture capital and growth equity firm formerly known as SV Life Sciences, has closed on its sixth flagship fund at its target of USD400 million.
SV also manages the Dementia Discovery Fund, plus five other funds that aim to support entrepreneurs and companies that create and deliver breakthrough treatments and healthcare solutions.
Together, the seven funds have had capital commitments of more than USD2 billion. Over the past 20 years SV Health Investors has invested in over 175 companies. SV has added more than 10 new portfolio companies in the past year.
SV VI,
An affiliate of New Water Capital Partners, a Boca Raton-based private equity investment firm focused on lower-middle market companies, has completed its recapitalisation of Montreal-based GSC Technologies, a manufacturer of kayaks, watersports equipment and storage and outdoor furniture products.
“GSC offers leading North American retailers a great product suite of kayaks, paddle boards and accessories under strong brands, with feature-rich designs and attractive price points,” says New Water partner Mark Becker.
Family-owned GSC features the Future Beach brand, as well as other paddle sports brands, including Equinox, Patriot, Heritage, and Viper. Additionally, GSC produces branded storage and outdoor furniture products. Company production facilities include a combination of company-owned and -operated manufacturing locations and outsourced manufacturing partners across the US and Canada.
The most popular M&A deal project name in 2016 was Project Blue, according to Intralinks, a provider of virtual data rooms for M&A transactions.
Intralinks analysed almost 5,000 transactions in 2016 – all of which used an Intralinks Virtual Data Room – revealing that Project Blue, Project Diamond and Project Falcon were the top three most popular choices of code name.
Compared to 2015, the highest climbers in the league table were Project X, climbing from number 38 to number seven, and Project Sapphire, up from number 153 to number nine. Five of the top 10 in 2016 also
The venture capital trust (VCT) sector raised GBP542 million in the 2016/17 tax year, the second highest amount raised on record and an 18 per cent increase on last year’s figure of GBP458 million, according to the Association of Investment Companies (AIC).
This is the highest amount raised since 2004/5 (GBP779 million) when income tax relief was increased from 20 per cent to 40 per cent.
VCT assets under management to 5 April 2017 (GBP3.9 billion) are also up on last year’s GBP3.6 billion.
Ian Sayers (pictured), chief executive of the AIC, says: “These figures are a testament
PNC Bank has closed a USD100 million senior secured revolving credit for Apache Industrial Services, a portfolio company of Quantum Capital.
PNC Capital Markets led the syndication as sole lead arranger, and PNC Bank is serving as administrative agent.
Based in Houston, Texas, Apache Industrial Services provides a suite of services including scaffolding, coatings and linings, refractory, fireproofing and insulation to critical infrastructure. Apache serves the petrochemical, agricultural chemical, refinery, power generation, offshore energy and general industrial markets.
Apache will use the funds, in part, for its acquisition by Quantum, to refinance existing credit facilities, and to provide
The Riverside Company has sold a non-voting minority stake to Parkwood to accelerate continuing growth.
Parkwood is a limited partner in multiple Riverside funds.
“Parkwood has a deep understanding of Riverside including our strategy, market leadership and culture,” says Riverside co-CEO Stewart Kohl. “This is a natural extension of our mutually beneficial relationship. I’ve long admired Parkwood chairman and CEO Morton Mandel as a mentor and role model, so we’re especially happy to have them as a partner in growth.”
Parkwood’s acquisition of just under 10 per cent of the firm will be all primary capital, with the
Middle market private equity firm One Equity Partners’ portfolio company Anvil International has acquired AFCON, a provider of patented fire protection pipe hangers and seismic bracing products.
Financial terms of the private transaction have not been disclosed.
Headquartered in El Monte, California, AFCON manufactures a complete range of fire protection products, including clamps, pipe hangers and sway brace fittings for a wide variety of pipes and copper system piping. Established in 1968, AFCON pioneered the fire hanger and pipe bracing business with innovative products designed to minimise damage to fire suppression systems during earthquakes.
“We’re pleased to be
Private equity activity in Africa will inject billions of US dollars of sustainable investment over the next five years, research shows.
Private equity deals in Africa are growing from a low base equivalent to 0.18 per cent of Africa’s GDP in 2016.
Every 0.01 per cent increase will mean USD200 million more investment and could easily reach USD1.1 billion over the next five years.
A growth engine: Trends and outcomes of private equity in Africa, commissioned by global law firm Baker McKenzie with The Economist Corporate Network, also shows private equity investors in Africa are distinct from other
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