Managers
OFI InfraVia’s European Fund II, its second European infrastructure fund, has acquired a 24 per cent stake in Régaz – the regulated gas distribution network of the City of Bordeax – from Dalkia France.
Gas distribution in France is regulated by the Commission de Regulation de l’Energie (CrE) under a standard WACC-based rAb regime.
With a RAB of approximately EUR265m, Régaz is France’s largest independent gas distribution company, which operates and services a network of 3,315 km and 210,000 points of delivery.
“Régaz is an excellent gas distribution business enjoying a solid regulatory framework and an attractive investment
Paul Hastings has advised OpenGate Capital in connection with the acquisition of Kem One SAS, the second largest European manufacturer of PVCs, together with the industrial investor Alain de Krassny.
The reorganisation plan of Kem One SAS was approved on 20 December by an order of the Tribunal de Commerce (Commercial Court) of Lyon, after months of negotiations with Groupe Kem One’s principal business partners and support from the French Government to preserve the continued viability of the French petrochemical industry.
Kem One SAS is part of the upstream business activity of Kem One Group. The order also provides for the
Law firm Paul Hastings has advised the British fund Fortelus Capital Management on the sale of the luxury shoes and accessories brand Bruno Magli to Da Vinci Invest, a Swiss independent capital management fund.
The new shareholder has also appointed Marcus Ensemberger as new CEO while the existing management will continue to manage the brand, whose headquarter will remain in Italy.
The Paul Hastings team, led by partner Bruno Cova, also includes partner Antonio Azzarà and associates Flavio Acerbi, Shida Galletti and Ante Picello.
Milbank, Tweed, Hadley & McCloy has represented Morgan Stanley as the debt provider to finance construction of a major new wind farm under development in Carson County, near Amarillo, Texas.
The 182 MW Panhandle 2 Wind Project, which Pattern Energy Group has agreed to acquire from its majority shareholder, Pattern Energy Group LP (“Pattern Development), will be part of Texas’s new Competitive Renewable Energy Zone. E
xpected to be operational in the fourth quarter of 2014, the Panhandle 2 facility will connect to the state’s main power grid, generating wind power from 79 Siemens 2.3 MW SWT-2.3-108 wind turbine
Nordic online travel agency group European Travel Interactive (eTRAVELi) is expanding its operations through the purchase of the price comparison website Flygresor.se.
Through the acquisition, the group is stepping into a new submarket and further bolstering eTRAVELi’s position in the market.
eTRAVELi is continuing to grow by acquiring Svenska Resenätverket AB, which includes the price comparison website Flygresor.se.
”Flygresor.se is a strong brand and offers an excellent service today. Where eTRAVELi is concerned, the takeover represents a step into a new market segment, and with us as its owners, Flygresor.se will enjoy further expansion opportunities,” says Ralph Axelson,
Deal flows in emerging Europe mergers and acquisitions are expected to increase in 2014, according to the Emerging Europe: M&A Report 2013/14 by law firm CMS and DealWatch.
M&A activity in emerging Europe in 2013 essentially remained flat in terms of deal volume and showed a moderate decline in deal value, falling from EUR138bn in 2012 to EUR112bn in 2013.
Last year the number of announced deals with a value above EUR1m dropped by two per cent to a total of 2,555 transactions. The most active sector by deal number in 2013 was services, with 484 deals representing 19
Gladstone Investment Corporation has invested USD13m in a combination of debt and equity to purchase Meridian Rack & Pinion, doing business as Buy Auto Parts.
Gladstone Investment, together with Digital Fuel Capital, a private equity firm focused on e-commerce and digital marketing, and Meridian's existing management team provided the capital in support of the acquisition of the business.
Jean-Pierre Gilbertz, the founder of Meridian, also continues to hold a sizeable stake in the company.
One of Gladstone Investment's affiliated companies, Gladstone Capital Corporation, also participated as a co-investor by providing USD5.6m of debt and equity financing on the
Affiliates of Roch Capital have acquired New Carbon Company, a provider of waffle and pancake mix to restaurants, hotels, colleges and other foodservice establishments, from PNC Riverarch.
The transaction also included investments by the New Carbon management team.
New Carbon was previously a portfolio company of PNC Riverarch Capital. Terms of the transaction were not disclosed.
Founded in 1937, New Carbon provides its Golden Malted brand waffle mix, along with waffle irons and related maintenance, to over 40,000 customer locations throughout North America and internationally. New Carbon’s customer base includes prominent national restaurant chains and lodging operators,
Evaneos, an online specialist for tailored travel, has closed a financing round of USD6m through XAnge Private Equity and founding investor ISAI.
The investment will be dedicated to the European growth of the French start-up, already established in France, Spain, Italy and Germany.
Doubling its volume of sales each year, Evaneos hopes to continue this significant growth and triple its workforce in the coming years.
Eric La Bonnardière, CEO of Evaneos.com, says: "XAnge's interest for Evaneos.com demonstrates the validity of the concept and business model we invented four years ago, along with the international growth perspectives that
An investment consortium led by Pembroke VCT, with support from Lepe Capital, has acquired specialist publishing and events group Boat International Media from August Equity.
Financial details of the deal have not been released but the purchase price is believed to be just in excess of GBP10m.
Pembroke is a venture capital trust, which specialises in investing in high growth consumer-facing businesses. Lepe Capital is a growth capital investor that specialises in media and consumer sectors. The consortium also includes several other private investors including Charles Dunstone and Tara Getty.
Boat International Media provides information and services across
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