Managers
More than 200 jobs have been saved after Enact, the GBP7.5m SME fund launched by private equity house Endless, agreed to buy 35 West Cornwall Pasty Company outlets and stores, together with the brand.
The deal follows the appointment of administrators over the company.
The investment in West Cornwall Pasty Company is the first completed by Enact and comes just three months after the fund’s launch. Enact has been supported in the transaction by Sankaty Advisors.
Enact has ambitious plans for the business with significant capital to be invested in refreshing the brand, product innovation and investment in
Sub-investment grade corporate credit specialist Alcentra, part of BNY Mellon, has invested in Menix Groupe, the holding company for healthcare firms Serf, Dedienne Santé and Global D and a manufacturer of orthopaedic and dental implants in France.
The funding takes the form of a unitranche investment provided by funds managed by Alcentra and will support the buyout by funds advised by LBO Partners in association with Turenne Investissement and Keensight Capital.
The unitranche investment will provide capital for the growth strategy of Menix.
Frédéric Méreau, executive director, European direct lending and mezzanine investments will represent Alcentra on the
Calibration services specialist Trescal has acquired Instrument Calibration Services and Test Equipment Repair Corporation, with the support of majority shareholder private investment firm Ardian.
The two companies provide calibration and repair services for a wide variety of measurement and test equipment.
This is the fourth expansion since Ardian acquired Trescal in July 2013.
Instrument Calibration Services and Test Equipment Repair Corporation — both based in Atlanta, Georgia — generated roughly USD4.2m in sales last year and have 24 employees including 18 engineers. The terms of the deals are not disclosed.
“The acquisition furthers our growth strategy in
Content management and web experience management software provider Ektron has closed a growth equity funding round led by Accel-KKR.
This minority investment, the company's first institutional round, will enable Ektron to accelerate product and company expansion as enterprise demand for its content management, marketing and web experience management software offerings continues to grow.
Terms of the deal were not disclosed.
"We're entering a new era where businesses and people experience content across the web and mobile devices in entirely new ways," says Ektron president Tim McKinnon. "Ektron is at the forefront of helping to power these new
Jafco Ventures has raised USD260m for its fifth and largest fund to date, Jafco Technology Partners V.
In contrast to its prior four funds where Jafco received all of its capital from its limited partner in Japan, Jafco Co Ltd, the new fund features over 20 new limited partners consisting of institutional investors, endowments, foundations and family offices.
"The consistency of our successful exits as a firm enabled us to attract a very high quality mix of new LPs," says Joe Horowitz, Jafco's managing general partner. “But our overall performance is due in no small part to the extraordinary
Law firm White & Case has advised private equity firm Rhône Capital on the acquisition by its affiliates of ASK Chemicals from Ashland and Clariant.
The transaction is expected to close by the end of the third quarter of 2014 subject to standard conditions, including regulatory approvals.
“We are very pleased to have supported Rhône on this significant acquisition,” says London-based White & Case partner Ian Bagshaw, the firm’s EMEA co-head of private equity who led the team of lawyers which advised on the deal. “The global nature of ASK and the tight execution timetable meant that the deal
Tendyne Holdings has secured USD25m in an oversubscribed Series C financing led by Apple Tree Partners, along with Boulle Group members and other existing investors.
Proceeds will be used for validation of Tendyne's novel Transcatheter Mitral Valve Implant to treat mitral regurgitation, including forthcoming clinical trials.
"This financing is a significant milestone for Tendyne. In 2013 Tendyne demonstrated positive human data and this infusion of capital allows us to move ahead confidently as we accelerate our minimally invasive mitral valve programme," says Jeff Franco, founder and CEO of Tendyne. "We are excited to have Apple Tree Partners come on board.
Israeli private equity company Viola Group has increased its ownership stake in RRsat Global Communications by acquiring an additional 6.6 per cent interest from Kardan Communications L for a total investment of USD9.4m.
"The increased ownership position reflects a significant, ongoing vote of confidence by a leading private equity investment group," says Avi Cohen, RRsat's chief executive officer.
Following this transaction, Viola Group owns approximately 28.6 per cent of RRsat's shares. This latest acquisition by Viola Group follows its previously reported acquisitions during 2013 of 15 per cent of RRsat's shares from Kardan Communications and seven per cent of
Berlin-based sociomantic labs has been acquired by dunnhumby Ltd, a subsidiary of the London listed Tesco, the world's third largest retailer.
Sociomantic offers real-time bidding advertising solutions for online advertisers in 60 countries.
An international team at CMS, led by partners Jörg Zätzsch and John Hammond, advised the founders of Sociomantic on the sale, which is one of the largest exits to date in the German start-up scene.
"The German start-up landscape is still pretty attractive for both domestic and foreign investors. For Berlin's entrepreneurs, this is a landmark transaction," says Zätzsch.
Sociomantic was established in 2009.
IK Investment Partners’ IK VII Fund has invested in Ramuddenbolagen, a provider of temporary traffic control services in the Nordics.
The partnership between IK and the company’s founder and management will enable the business to grow and strengthen further.
Financial terms of the transaction are not disclosed.
Ramudden, founded in 2005 and based in Sundsvall and Gävle, Sweden, delivers products and services for temporary traffic control solutions, including the rental of essential equipment (such as traffic barriers and guide signs), traffic arrangement plans, education programmes, surveillance and maintenance services. The company is the leading specialist in Sweden and
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