Managers
Japanese denim brand EVISU has agreed a buy-back deal for its retailing and franchising rights in China.
Parent company EVISU Group Limited is reinvesting, alongside private equity fund Cassia Investment, to buy back New Elegant Trading’s interest in their China joint venture, which is financially supported by IDG Capital.
The acquisition consideration is USD40 million. David Pun, chairman and CEO of EVISU Group Limited, will remain the majority shareholder.
Pun says: "The company made concerted efforts with its China joint venture partner over the past few years to establish brand awareness and secure a footing in China. We
Decision Tech, a performance marketing and data company that owns and operates broadbandchoices.co.uk, has acquired comparemymobile.com for an undisclosed sum.
The move comes just three months after Decision Tech completed the acquisition of sellmymobile.com, and strengthens the group’s presence in the mobile handset recycling market.
The comparemymobile.com acquisition makes Decision Tech the UK’s most used price comparison service for consumers and businesses trading in mobiles and other gadgets. Decision Tech will use this latest acquisition to develop its proposition in two key areas.
First, it will expand the suite of data insight products and services already offered by
European technology has come of age in 2016, with the total M&A deal value more than doubling in the last 12 months to USD127.2 billion, according to M&A advisory firm Magister Advisors.
This was driven by the blockbuster acquisitions of ARM, Supercell and NXP.
There was also a series of transformational mid-market deals, a significant shift for Europe which has traditionally been a hunting ground for consolidation deals. Unprecedented M&A interest from Asian buyers, together with a strong IPO market for the best European tech businesses, has driven the surge in “blockbuster” deals.
According to the review, the
Burford Capital is to acquire GKC Holdings, the parent of Chicago-based Gerchen Keller Capital, for USD160 million in a combination of cash, Burford shares and loan notes and a further potential USD15 million in performance-based share consideration.
The acquisition will be immediately accretive to earnings per share.
GKC is a law-focused investment manager, registered as an investment adviser with the US Securities and Exchange Commission. It currently has USD1.3 billion in assets under management in private investment vehicles, raised from public pensions, financial institutions, university endowments, foundations and family offices.
Burford and GKC are the two largest litigation
German hotel group Meinninger Hotels and private equity firm VIYM have signed a management agreement which will see Meinninger open its first hotel-hostel hybrid in Russia, as part of VIYM’s Nikolskiye Ryady development in Saint Petersburg.
The overall cost of the Nikolskiye Ryady project, including both hotel properties – the Meinninger Hotel and Holiday Inn Express – is expected to be around USD50 million.
The hotel-hostel hybrid will have 158 rooms, with a total area of 7,300 sq m. The operator is already participating in the drafting of construction blueprints, to ensure that the new property is built in
Online investment platform SyndicateRoom has seen the first exit for a company that raised funds on its platform, following the acquisition of Oval Medical.
Oval, a medical technology company designing and producing auto-injectors to enhance medical safety and address trypanophobia (fear of needles), has been acquired by US-based healthcare contract manufacturer SMC.
Oval Medical raised GBP1,118,647 in August 2014, via the SyndicateRoom platform, with 40 SyndicateRoom investors contributing to this total. SMC is acquiring Oval to build on its existing business in the drug delivery device market, paving the way to grow and to develop further Oval’s core auto-injector
Mid-market private equity investor Equistone Partners Europe is acquiring a majority stake in Group of Butchers, alongside its current management, from Nordian Capital Partners for an undisclosed sum.
Group of Butchers is a producer of high-quality meat products sold at supermarkets and delivered to the out-of-home market.
Founded in 1997 under the name Dutch Grill Specialties and headquartered in Tilburg, Netherlands, Group of Butchers focuses on the production and distribution of high-quality meat products. The company brings together several local butcher production sites, each producing their own specialties.
Group of Butchers has 350 employees across six production facilities
Elaghmore Partners has closed its initial fund, Elaghmore I, at GBP60 million and completed its first acquisition.
The fund held a first and final close and is now fully operational. The fund was oversubscribed and the investors are a mixture of US and European institutions.
The investment strategy of Fund 1 is focused on UK-headquartered industrial businesses that present a significant opportunity for growth and value creation.
The partners will participate in every phase of the investment, including turnaround of the business, if necessary, its growth and development, and ultimately ensuring it is well placed to deliver returns
Providence Strategic Growth Capital Partners (PSG), an affiliate of private equity and credit investment firm Providence Equity Partners, has closed its second fund with USD640 million of equity commitments.
PSG Fund II, which closed at its hard cap and was oversubscribed, received commitments from existing and new investors, including corporate pensions, family offices and high net worth individuals.
To date, the firm has made six investments in PSG Fund II: Boston Logic, PaySimple, LogicMonitor, Untangle, Anju Software and Conversica.
PSG invests in lower middle market software and technology-enabled service companies primarily in North America. The firm works closely
Private equity (PE) and venture capital (VC) funds in the US showed stronger performance in the second quarter of 2016 than the first, according to Cambridge Associates.
Energy investments helped generate the rebound for the PE benchmark, and returns from healthcare VC investments made the biggest leap from the first quarter of 2016 to the second.
The Cambridge Associates US Private Equity Index returned 4.0 per cent in Q2 2016, outperforming the large-cap S&P 500, the small-cap Russell 2000 and the tech-oriented Nasdaq Composite indices for the quarter.
The Cambridge Associates US Venture Capital Index posted a 0.7
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