Managers
Europe’s executives are more bullish about the European M&A outlook than they were a year ago, according to the second edition of the European M&A Outlook by Mergermarket in association with CMS.
Of the 225 Europe-based corporate executives surveyed, 76 per cent expect that dealmaking will increase or increase greatly, a 28 percentage point increase from last year’s study.
Attitudes about Europe’s economic recovery have improved significantly and the majority believe that the worst is behind us.
Thomas Meyding, head of CMS Corporate Group, says: “Our report echoes the sentiment of increasing market confidence as evidenced by the
The Ontario Teachers’ Pension Plan has agreed to acquire Bridon Limited, a manufacturer of wire rope, from Melrose Industries.
The transaction, led by Teachers’ Private Capital (TPC), values UK-based Bridon at GBP365 million (approximately USD656 million), subject to customary adjustments, and is expected to close by the end of 2014 (subject to receipt of required regulatory approvals).
Headquartered in Doncaster, Bridon operates manufacturing units worldwide, along with technical and sales offices, supported by a global network of agents and distributors. The company’s mission-critical products provide solutions to technically demanding challenges in industrial, mining, oil and gas extraction, marine and
Blackstone’s board of directors has approved a plan to spin off its financial and strategic advisory services, restructuring and reorganisation advisory services and its Park Hill fund placement businesses.
The businesses will be combined with PJT Partners, an independent financial advisory firm founded by Paul J Taubman (pictured). The parties expect the transaction to close in 2015.
The new entity will be an independent, publicly traded company, which will be led by Taubman as chairman and chief executive officer. Prior to founding PJT Partners, Taubman spent 30 years at Morgan Stanley where he served as co-president of the institutional
The RAG-Stiftung foundation has acquired a majority holding in specialist engineering firm HAHN Automation via RAG-Stiftung Beteiligungsgesellschaft mbH.
The transaction is currently awaiting approval from the merger control authorities.
A CMS Hasche Sigle team led by Dr Richard Mayer-Uellner and Dr Malte Bruhns advised the foundation on all legal aspects of the transaction.
Established in 2007, the RAG-Stiftung foundation is tasked with winding down the subsidised coal mining operations of RAG Aktiengesellschaft in a socially responsible way by the end of 2018. Another role of the private-law foundation is to finance the perpetual obligations arising from German coal
Clearlake Capital Group has acquired Sage Automotive Interiors, the second largest automotive textile supplier in the world.
Sage management invested alongside Clearlake in the transaction.
Financial terms of the transaction have not been disclosed.
“This acquisition underscores Sage’s success and vision, and provides a stable platform to help drive our future growth, both domestically and globally,” says Dirk Pieper, Sage CEO. “Clearlake is an experienced investor in the automotive space, bringing valuable industry expertise and strong financial resources. We appreciate this vote of confidence in all that Sage has accomplished and in our future, and we look forward
New Mountain Capital has closed its fourth private equity fund, New Mountain Partners IV, with USD4.13 billion of equity capital commitments.
This includes USD4.0 billion of third party limited partner commitments and over USD130 million from the general partner and affiliated investors.
The fund, which had a target of USD3.0 billion, was oversubscribed at its hard cap of USD4.0 billion of limited partner commitments.
“We thank our Fund IV investors for their friendship and partnership,” says Steven B Klinsky, founder and CEO of New Mountain. “We will do our best to reward their confidence with strong performance.”
Private equity fund Monomoy Capital Partners has completed its tender offer for the common stock of Cobra Electronics at a price of USD4.30 per share.
Immediately upon the closing of the tender offer, Monomoy completed a merger transaction to take Cobra private and add Cobra to the Monomoy portfolio of companies.
Cobra is a global designer and distributor of communication and navigation products, including two-way radios, radar detectors and citizens band radios. Monomoy will focus on improving margins and cash flow while supporting and growing its core business.
“We are thrilled to add Cobra to our consumer electronics
Keensight Capital, a European growth private equity firm, has completed the sale of FircoSoft, a provider of watch list filtering solutions for bank transactions, to Reed Elsevier.
Created in 1990 and based in Paris, FircoSoft provides software solutions which allow its clients to filter financial transactions against sanctions and watch lists in order to ensure compliance with existing regulations while meeting Know Your Customer (KYC) requirements.
Keensight Capital first invested in the company in May 2011 through a majority LBO transaction, alongside the management and Paris Orléans.
In three years, FircoSoft has opened seven new offices throughout the
An investment fund that Adamas Finance Asia (ADAM) invested USD1 million in last September has exited from a credit-finance project with a gross IRR of 22 per cent.
ADAM has also received a second semi-annual dividend distribution in the amount of USD75,301.98 from its investment in GCCF.
Following an initial dividend payment in March 2014, GCCF has to date yielded an annual dividend return of 15.06 per cent for ADAM.
GCCF was launched in August 2013 by Hong Kong-based Adamas Asset Management (HK) Limited, which since February 2014 has been has been acting as ADAM's investment manager.
Eos and Greenstone Equity Partners have joined forces in the Gulf Cooperation Council (GCC) region to meet rising investor demand for global investment opportunities in alternative assets.
Greenstone Equity Partners, a Dubai-based fund placement firm, will bring an Eos sponsored credit fund to the region's sovereign wealth funds, institutional investors and family offices.
Partnering with Eos, Greenstone Equity Partners is able to address its clients' demand for liquid alternative assets.
Eos is collaborating with Greenstone Equity Partners to expand its brand within the region and to develop new relationships with GCC-based investors.
"Greenstone is a leader in
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