The Fund Incubator, an early stage venture capital fund manager previously known as Caledonia Capital Managers, has completed its buyout by a team lead by Stephen Geddes and Barry Lawson, two private equity veterans, who take full control of its day to day investment and fund management activities. Francis Madden, the former CEO of Caledonia, says: “We have worked with Stephen and Barry for many years on fund raisings and when they approached us about the buyout we saw them as natural successors. We are pleased that they will be using the company as a base for developing a more

Law firm Paul Hastings has advised HSBC, Lloyds and ING in relation to a new revolving credit facility which will replace Brammer’s existing financing upon Advent International acquiring the company. The proposed acquisition of the company by Advent International will proceed via a scheme of arrangement.   Brammer is a London-listed supplier of maintenance, repair, and operations products serving more than 100,000 clients in a wide range of manufacturing sectors across Europe.   The Paul Hastings team was led by London partner Luke McDougall, with associates Richard Kitchen and Alon Blitz assisting.

Noerr has advised Passauer Neue Presse (PNP) on its purchase of the Donaukurier publishing group, effective 1 January 2017. Passauer Neue Presse is continuing its expansion course with this takeover.   In the past few years, PNP has already taken over newspapers in southern Bavaria. The present transaction is still subject to clearance by the Federal Cartel Office in Germany.   The Passauer Neue Presse newspaper, which on weekdays has a total circulation of some 165,000 copies, is part of the Passau publishing group, one of the largest publishers of regional daily newspapers in Europe. The publisher regularly relies on

Mid Europa Partners, a private equity firm focused on Central and South Eastern Europe, is to acquire 100 per cent of shares in Profi Rom Food, the largest supermarket chain in Romania, from Polish Enterprise Fund VI. This is the largest deal ever completed by a private equity firm in Romania and the largest retail deal in the country’s history. The transaction is subject to anti-trust clearance and is expected to close in Q1 2017.   Profi is a modern retail network with the widest geographical spread in Romania, having a strong presence in almost 250 cities, smaller towns and

LeapFrog Investments has acquired a USD22 million majority stake in Kenya’s Goodlife Pharmacy, the largest direct investment in the East African retail pharmacy sector to date. The acquisition, from private equity firm Catalyst Principal Partners, is part of LeapFrog’s plan to diversify its private equity investments into a closely linked sector – healthcare.   This will develop a platform that combines both payers and providers, thereby bringing consumers greater access to affordable, quality healthcare.   The World Health Organisation (WHO) estimates that over 150 million people fall into poverty annually due to catastrophic healthcare events and an inability to pay

Clearwater International has advised the shareholders of the UK’s MacDonald Humfrey (Automation) Limited on its cross-border sale to L-3 Communications, a New York headquartered provider of communications and electronic systems products used on military and commercial platforms. MacDonald Humfrey specialises in the deployment of checkpoint security and wider aviation solutions, as well as in the development of process automation and collaborative robotic capabilities supporting aviation and other end markets.    MacDonald Humfrey’s aviation solutions have been deployed throughout Europe, the Middle East and Canada, and most recently in the US where the company has engaged with airlines and airports to

Sunoco Logistics Partners (SXL) is to acquire Energy Transfer Partners (ETP) in a unit-for-unit transaction. The transaction was approved by the boards of directors and conflicts committees of both partnerships and is expected to close in the first quarter of 2017, subject to receipt of ETP unitholder approval and other customary closing conditions.   Under the terms of the transaction, ETP unitholders will receive 1.5 common units of SXL for each common unit of ETP they own. This equates to a 10 per cent premium to the volume weighted average pricing of ETP’s common units for the last 30 trading