Managers
Private equity firm American Securities, in partnership with the existing management team, has completed its acquisition of Grede Holdings, a producer of cast, machined and assembled transportation market components.
Grede had been majority owned by a private investment fund managed by Wayzata Investment Partners. Financial terms of the transaction have not been disclosed.
“Grede has established a successful track record highlighted by strong revenue growth, best-in-class operations, reputation for quality and reliability, and our long-standing customer relationships,” says Doug Grimm, chief executive officer, Grede. “For the next chapter in the company’s evolution, we look forward to partnering with American
Atlas Holdings’ portfolio company ASG, a specialty-packaging manufacturer, has acquired the Bydgoszcz, Poland-based beauty and personal care folding carton business of MeadWestvaco Corporation (MWV).
Terms of the transaction have not been disclosed.
Bydgoszcz is an important supplier of packaging to major global and regional consumer goods companies, including cosmetics and beauty brands. ASG, already one of the largest packaging suppliers for the home entertainment industry, will leverage the Bydgoszcz operation’s assets to expand its footprint in the European consumer-packaging market.
The acquisition is part of ASG’s multi-year strategy to develop additional packaging solutions for the beauty and personal
The attractiveness of the UK renewables market has decreased dramatically in the eyes of investors and developers, falling back to levels last seen in November 2012, according to EY's latest Renewable Energy Country Attractiveness Index (RECAI).
The quarterly report, which ranks the investment potential of 40 countries' renewables markets, has ranked the UK in sixth place behind the US, China, Germany, Japan and Canada.
According to the report, the UK has slipped a place for the second consecutive quarter. This is mainly due to conflicting signals over the future of support for renewables beyond the 2015 election, as well as the
Private investment firm Palladium Equity Partners has acquired, through affiliates, Q'Max Solutions, an oilfield services company with operations in Latin America, North America and Asia.
Terms of the transaction have not been disclosed.
Founded in 1993, Q'Max is a large independent oilfield services company focused on providing drilling fluids and solids control services to national and independent oil companies. The company's workforce of nearly 1,400 employees provides customised fluids and environmental solutions to challenges encountered in the drilling process. Its name "Q'Max" refers to "maximum flow from a wellbore" in engineering terms.
Chris Rivers, president and chief executive
Private equity firm Genstar Capital has completed the acquisition of US-based Pretium Packaging from Castle Harlan.
Pretium manufactures rigid plastic containers and closures that require significant technical expertise and proprietary tooling to manufacture.
Pretium uses its national manufacturing footprint, design and engineering capabilities to provide customised solutions to its customers in the food and specialty beverage, private label, pharmaceutical, personal care and household and industrial sectors.
The company sells its products to a diversified customer base ranging from Fortune 500 companies to smaller privately-owned businesses.
David Golde, who leads Genstar's packaging-related investing efforts, says: "Our investment in
Thomas Hirschberger, founder of Munich-based restaurant and bar chain Sausalitos, and EQT Expansion Capital II Limited have agreed to sell the Sausalitos Group to Ergon Capital Partners III.
The transaction is currently awaiting approval from the German competition authorities and is expected to complete in July 2014.
A team from CMS Hasche Sigle headed by lead partner Dr Oliver C Wolfgramm advised Thomas Hirschberger on all legal aspects of the sale. This included structuring and negotiating a reinvestment by Thomas Hirschberger in the Ergon Capital Partners acquisition vehicle.
Founded in 1994, Sausalitos is a casual gastro pub chain
European private equity firm Cinven is is to sell in-vitro diagnostics protein testing business Sebia to a consortium led by Montagu Private Equity and Astorg Partners for an undisclosed figure.
The transaction will generate a 2.4x return on Cinven's original investment.
During Cinven’s ownership and under chief executive Benoit Adelus' team leadership Sebia has expanded its operations into the US and emerging markets resulting in significant revenue increase comprising 21 per cent and 23 per cent of total revenue respectively at the end of LTM April 2014.
The company also launched major products such as a diabetes test
Venture capital firm Osprey Capital is making an investment into GovToday, the public sector media platform.
Having raised over GBP700,000 last year, including an initial round of investment from Osprey and a grant from the North West Fund for Digital & Creative, the latest fundraising has seen a small group of investors commit a further GBP500,000.
Along with Osprey, a significant proportion of this funding has come from the Greater Manchester Loan Fund, managed by Maven Capital Partners.
GovToday, which incorporates an online portal engaging with the public, private and third sectors as well as a programme of
Private equity firm NorthEdge Capital has committed to invest in Utiligroup, a Lancashire-based data management software and services company, pending approval from parent company Bglobal’s shareholders.
Founded in 1997, the business, located in Chorley, provides data management software and services to the energy sector. Utiligroup has helped a total of 15 new businesses enter the energy market during the last four years and supplies software and services to 29 of the active UK energy suppliers, including OVO Energy and Co-Operative Energy.
Following a strategic review, Matthew Hirst, Utiligroup chief executive, and Andrew Green, chief operating officer, are leading the
Mid-market private equity house LDC has agreed to back the GBP45 million management buyout (MBO) of Anite Travel Limited.
Anite Travel specialises in providing reservation systems to tour operators such as TUI and Thomas Cook.
Anite plc’s stated strategy is to focus on developing its leading position in wireless test solutions, leading to the decision to solicit offers for Anite Travel. Anite plc’s board chose LDC as the most appropriate backer for the MBO of Anite Travel as a result of LDC’s commitment to continue to invest and develop Anite Travel for the benefits of its customers, employees and
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