Managers
UK private equity house Maven Capital Partners (Maven) has funded a replacement capital transaction in Westway Services Holdings (Westway).
Maven originally supported an MBO of the London-based facilities management business in 2009 and has since helped grow Westway’s footprint throughout London and the South East.
The GBP3.6 million recapitalisation of Westway, which is Maven’s 10th Private Equity transaction this year, has not only delivered a 1.6x money multiple return for Maven client funds prior to any future equity realisation, but has also increased Maven’s equity stake in the business.
Founded in 2001, Westway provides installation, commissioning, maintenance and
High Road Capital Partners has sold portfolio company Handi Quilter marking the third exit for the firm’s debut fund, High Road Capital Partners Fund I, LP.
North Salt Lake, Utah-based Handi Quilter is a leading developer and manufacturer of mid- and long-arm quilting machines for the consumer quilting market. The company was acquired by Blue Point Capital Partners. Transaction terms were not disclosed.
“In the three years High Road owned Handi Quilter, revenue grew by 76% and EBITDA by 87%,” says Bob Fitzsimmons, High Road’s Managing Partner. “Handi Quilter exemplifies our strategy of buying niche leaders and working
An affiliate of HIG Capital has purchased the majority of the assets associated with Ferro Corporation’s (NYSE: FOE) Polymer Additives Division (PAD).
PAD will be rebranded and operate as Valerus Specialty Chemicals (Valerus).
Headquartered in Independence, Ohio, Valerus is a leading provider of specialty chemicals that impart critical attributes to polymers, including resiliency, flame retardancy and ease of processing. The Company has a very diverse and broad product line with over 250 active SKUs of polymer modifiers, lubricants and stabilisers. Valerus holds a strong reputation within the industry for consistently delivering reliability, quality and product innovation. The Company is expected
Salvepar has acquired a 5% interest in DRT, a developer of rosin and turpentine extracted from pine resin. DRT and its subsidiaries supply more than twenty industries with value-added products.
The Ccmpany mainly supplies the perfume, adhesive, rubber, gum and food supplement markets with a wide range of more than 250 everyday products for the consumers around the world. DRT, which is headquartered in the Landes, operates four factories in Southwestern France and industrial sites in China and India. DRT is a French company enjoying growing influence and reputation in international markets.
Salvepar intends to support DRT’s development, including
By Chris Humphries, Managing Director, Stuarts Walker Hersant, Attorneys-at-Law – The Cayman Islands continues to be the leading offshore jurisdiction for mutual funds and hedge funds. Its position as the premier jurisdiction is as a result of innovative legislation and the absence of taxation together with the presence of sophisticated and professional service providers and a favourable regulatory environment.
The Cayman Islands offers:
• A straightforward fund registration procedure.
• A flexible investment fund regime within a clear and effective regulatory environment.
• Experienced legal, administrative and accounting service providers.
• No requirement to have Cayman Islands based directors or
In 2011, ahead of the introduction of the AIFMD in Europe, an article entitled “A foot in both camps”, was written by Derek Delaney, Managing Director of DMS Offshore Investment Services (Europe) Limited. In it, Delaney (pictured) wrote: “There is an enduring perception that the established European domiciles such as Ireland and Luxembourg are in direct competition with the leading offshore domiciles such as Cayman. This perception has transcended reality to the extent that leading participants in both camps deem it necessary to fight their corner.”
With over 225 staff, DMS is the world’s largest provider of fund governance services
Private equity investor Advent International is to acquire majority ownership of Brazilian technology products provider Allied SA from One Equity Partners (OEP) and other minority shareholders.
The Radomysler family, which founded the company, will retain a significant minority stake and continue to lead Allied. The transaction, subject to regulatory approval and certain closing conditions, is expected to be completed in the first quarter of 2015. Financial terms of the acquisition were not disclosed.
Founded in 2001, Allied provides services and supply chain management solutions to more than 3,700 customers, including telecommunications carriers, OEMs, retailers and corporate customers (B2B channel).
Venture fund manager MMC Ventures has enjoyed a bumper 2014, attracting GBP74m in total investment into its portfolio in the past 12 months.
2014 saw the team make 23 investments in total, demonstrating why CB Insights named MMC as one of the UK’s most active early stage investors for the third year running.
Over half of these deals were follow-on funding rounds supporting existing MMC portfolio companies including: Invenias, Masabi, Tyres on the Drive, Wool and the Gang and Love Home Swap. Portfolio businesses which have attracted third party funding this year include; Somo, MUBI, PactCoffee.com, PayasUgym, Brightpearl, Gousto and
Private equity and infrastructure investment firm First Reserve has awarded Deutsche Bank a fund services mandate.
First Reserve selected Deutsche Bank’s Alternative Fund Services to provide an integrated bank loan fund administration solution. As part of the solution, Deutsche Bank is providing its customisable investor reporting, fund accounting, and bank loan administration services.
“We look forward to growing our platform utilising Deutsche Bank’s full range of services,” says Josh Weiner, Managing Director at First Reserve. “We selected Deutsche Bank for their ability to provide an integrated model and flexible reporting to our investors.”
“We are delighted to build
Prairie Cloudware has completed a USD3.2 million capital raise. The company was founded to help financial institutions protect and extend their payments franchise while improving security, convenience and control for their customers.
“Three times as many consumers trust financial institutions over other providers to make payments safe,” said Kevin Kammer, CEO of Prairie Cloudware. “With the support of our investors, we are providing a solution that will allow financial institutions to reinforce their role as the primary provider of payment services, offering their customers safe, convenient ways to make digital payments on-line and in stores.”
Prairie Cloudware’s Digital Payments
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