Managers
Private equity fund manager and Enterprise Investment Scheme and venture capital trust specialist Calculus Capital has sold its holdings in AIM-listed Horizon Discovery.
The average exit multiple for sale of the shares was 1.82x, constituting a tax-free return of over 160 per cent to investors, when factoring in initial income tax relief of 30 per cent.
Calculus’s holding period in Horizon Discovery was three years and three months, representing an efficient investment-to-exit time line. The minimum holding period for a company’s shares to qualify for income tax relief through the Enterprise Investment Scheme is three years.
Horizon Discovery
Law firm Taylor Wessing has advised Rutland Partners on the sale of Millbrook Group to Spectris for GBP122 million, realising a return for investors of over six times their investment.
Taylor Wessing advised Rutland on the acquisition of Millbrook from General Motors in 2013.
The business, a test, validation and engineering service provider, owns a 665-acre site offering extensive test and validation facilities which complement over 45 miles of on and off road test tracks with a variety of surfaces, features and terrains.
Millbrook also acquired Test World in Finland in 2015, a deal on which Taylor Wessing
Orrick has advised a consortium of international private equity firms, including Bessemer Venture Partners, Columbia Capital, HarbourVest Partners, Innova Capital, MC Partners and Oak Investment Partners, in the sale of Slovakian telecommunications provider Benestra to private equity house Sandberg Capital.
The deal, announced one 26 May 2016, has now closed.
Lead partner Shawn Atkinson has been advising members of the consortium of investors since they first acquired the assets of telecommunications service provider GTS Central Europe in 2007.
Following over six years of investing in GTS’s growth and building the company into one of the leading telecoms providers
Hong-Kong based private equity firm NewQuest Capital Partners has acquired Integreon, a provider of legal, document, business and research outsourcing, from LiveIt Investments and Actis.
Financial terms of the deal have not been disclosed.
Amit Gupta, partner and chief operating officer at NewQuest, says: “The Integreon transaction is an exciting opportunity to invest in a global leader with attractive growth prospects. Over the past few years, the business has achieved an exceptional market position and is poised to take advantage of its long-standing strong client relationships, its global delivery platforms, and deep experience in working with professional clientele. Integreon
Law firm Paul Hastings has advised Filtration Group, an affiliate of Chicago-based Madison Industries, on the GBP220 million acquisition of the Porous Technologies business of UK-based industrial group Essentra.
Essentra Porous Technologies is a producer and distributor of the essential components that control liquids and vapours in products used in homes, offices, operating rooms, and beyond.
Filtration serves a diverse set of customers with offerings that span life science, process technologies, fluid and environmental air applications.
The Paul Hastings team was led by corporate partner Ronan O’Sullivan in London, alongside partners Arun Birla and Garrett Hayes in London,
Private equity firm Vector Capital has sold Gerber Technology, a provider of integrated software and automated systems for the production of flexible materials, to American Industrial Partners.
Terms of the transaction have not been disclosed.
Headquartered in Tolland, Connecticut, Gerber Technology provides integrated software and system solutions to more than 78,000 customers across 130 countries in the aerospace, construction, furniture, fashion and apparel, transportation, technical textiles, packaging, wind energy, and sign and graphics industries.
Gerber Technology’s products and services are used by more than one-fifth of the Fortune 500.
In 2011, Vector Capital completed the take-private of
Sierra Income Corporation and its affiliate Medley Management provided a senior secured first lien term loan to facilitate ZS Fund’s acquisition of AmeriJet Holdings.
AmeriJet, headquartered in Ft. Lauderdale, Florida, is a provider of air cargo and logistics services to and from the US and the Caribbean, Mexico and Latin America.
AmeriJet operates both scheduled and charter services, focusing on shipping time-sensitive, perishable, oversized, hazardous and complex product configurations utilising its network of 25 domestic offices and over 130 offices worldwide.
“We are excited to partner with ZS Fund to help finance their acquisition of AmeriJet,” says Jeff
Kayne Anderson Capital Advisors has held the final close of its newest energy-focused private equity fund, the Kayne Private Energy Income Fund (KPEIF), with total capital commitments of USD1.55 billion.
KPEIF’s strategy is to partner with a select group of high-quality management teams to acquire and develop large, long-life producing oil and gas assets in North America.
The fund is part of Kayne’s energy private equity practice, which has raised over USD7 billion since inception.
KPEIF is led by managing partner Danny Weingeist and managing directors David Iverson and Mark Teshoian.
“We are fortunate to have received
The Canadian investment landscape continued to show strength in the first six months of 2016 – especially on the venture capital (VC) side, according to the CVCA.
Building on a huge Q1, CAD683 million was invested in Q2 bringing the total to CAD1.5 billion invested over 255 deals. This is significantly higher than the first half of 2015, where CAD1.1 billion was invested over 272 deals.
The ICT sector led the way with CAD1,027 million invested in H1 (67 per cent of the total dollars invested), followed by CAD310 million in life sciences (20 per cent) and CAD114 million
Aurora Capital’s portfolio company Alltub Group, a manufacturer of collapsible aluminium tubes, has acquired Karl Höll.
Headquartered near Düsseldorf in Germany, Karl Höll is a manufacturer of collapsible aluminium and laminate tubes with annual production capacity of approximately 330 million tubes globally.
The production capacity of the combined group will be approximately two billion tubes a year with annual sales in excess of EUR150 million.
Karl Höll offers a large range of products to major pharmaceutical and cosmetic players across Europe with a specific focus on Germany. The company has two production facilities in Germany equipped with efficient
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