Managers
Aurelius Equity Opportunities has sold its subsidiary SECOP to the Nidec Group headquartered in Kyoto, Japan.
At a sales price of EUR185 million, this is the largest company sale in Aurelius’ history.
The transaction is subject to the approval of the competent authorities and is expected to close in the coming months.
With the sale, Aurelius increases the capital it invested in SECOP by a multiple of approximately 11x. The transaction will have a positive effect on Aurelius’ 2017 group profit of EUR100 million.
The combination of the transaction and advanced plans for further disposals in the
Monroe Capital has acted as sole lead arranger and administrative agent on the funding of a unitranche facility to support the future growth of Priority Ambulance, by private equity sponsor Enhanced Equity Funds.
Based in Knoxville, Tennessee, Priority Ambulance provides emergency and nonemergency medical transport to the communities it serves in Tennessee, Alabama, New York, Arizona, Indiana, Georgia and South Carolina.
Throughout its national footprint, Priority Ambulance operates approximately 400 emergency and nonemergency vehicles staffed by more than 1,600 licensed paramedics and EMTs. Priority’s ambulances are equipped with the latest medical equipment and technology.
Eaton Partners, a placement agent and advisory firm and wholly owned subsidiary of Stifel Financial Corp, has served as lead placement agent for PA Direct Credit Opportunities Fund II (PADCOF II), which held a final close of approximately USD740 million.
The fund, part of the Portfolio Advisors direct investing platform, is run by the credit investment team led by Chuck Harper and Igor DaCosta, and will primarily invest in direct junior debt instruments, with equity participation.
It will provide capital to financial sponsors that are conducting leveraged buyouts, growth financing or recapitalisation transactions for US middle market companies.
Alterity Investments, advised by MMX Retail, has sold 12/15 High Street in Winchester for GBP15.825 million.
The property is situated on the prime retail pitch of Winchester’s High Street and comprises three integrated buildings forming a single department store offering 50,612 sq ft of retail space across five floors.
The property is currently occupied by Debenhams on a 30-year lease, circa 17 years left until lease expiry, with fixed rental increases throughout the remainder of the lease. Debenhams is the only department store in the city.
Scott Mitchell, partner at MMX Retail, says: “Winchester presents an attractive opportunity for
Maven Capital Partners has completed the GBP6 million management buy-out of ProspectSoft to support the roll-out of the new cloud-based SaaS software – Prospect365.
ProspectSoft provides customer relationship management (CRM) and e-commerce software for the business-to-business (B2B) market.
Its technology can be fully integrated with clients’ existing accounting and enterprise resource planning (ERP) packages including systems such as Access Dimension, Exchequer, Pegasus and Sage.
The business will use the funding from Maven to help roll out its new Cloud-based SaaS software application Prospect365. The product was officially launched in December 2016 following several years of development and will
Align Capital Partners’ platform company Alliance Source Testing (AST) has acquired the stack testing operations of Golden Specialty, a provider of source emission (or stack) testing services to industrial facilities in the western US.
Partnering with AST will allow the combined company to deepen customer relationships through greater proximity to existing and newly served customer facilities.
Together, AST and Golden have a strong national footprint of nine offices across Alabama, Arkansas, Texas, Pennsylvania, Utah, Washington and Iowa, with attractive geographic density in key regions and the technical expertise to serve a diverse range of end markets.
Scott Swiggard,
Law firm Howard Kennedy has advised Lynx Equity on its acquisition of specialist label printer Label Express.
The acquisition completed on 12 April and is Lynx Equity’s second UK investment.
Lynx Equity is a Canadian-based private equity firm with a diverse portfolio of companies across North America. It invests in small and medium sized businesses, typically valued between USD1 million and USD10 million, where owners wish to retire. Its first investment in the UK was the acquisition earlier in 2017 of specialist bathroom and kitchen storage company SignalHome. Further UK acquisitions are expected.
Label Express has for the past 30
The Gores Group is to sell Fotona Holdings to AGIC Capital, a European-Asian cross border private equity firm focused on industrial technology and healthcare investments in Europe and the US.
The Gores Group acquired Fotona in 2014 through its Small Capitalisation Partners investment fund.
Founded in 1964, Fotona is a Central European manufacturer of high performance lasers for medical, dental and aesthetic applications. Fotona sells these systems through a network of 70-plus worldwide distributors and through a direct salesforce in the US.
In January 2014 Gores partnered with Jeff Jones, the founder of Fotona’s US product distributor, to
Sfoglia Torino has acquired 100 per cent of the capital of Idea Quick, an Italian frozen puff pastry producer, with growth capital provided by Unigrains.
The acquisition follows an expansion process launched in February 2017, in which Enzo Perrino, the CEO of Sfoglia Torino, acquired Righi Srl in view of consolidating the frozen puff pastry sector.
In 2016, Sfoglia Torino saw sales of roughly EUR11 million, up nearly 10 per cent compared to 2015. Following the acquisitions of Righi and Idea Quick, the newly created group surpasses EUR30 million in sales and can further invest in opportunities for sustainable
Private equity firm Omnes Capital invested a total of EUR167 million invested in 2016, supporting 13 new companies such as Bankin’, Mes Docteurs and Ducatillon.
It also completed 24 disposals representing EUR416 million – an increase of 58 per cent compared with 2015.
These included SIMP (4.9x), Nomios (4.8x) and Denyall (2x), as well as the sale of a portfolio of 100 MW of wind and solar energy assets developed in partnership with SMEs in the sector.
Omnes Capital achieved a gross IRR of 15 per cent on the CACI fund (launched in 2005), which was fully divested
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