Managers
The offshore M&A market increased in value at twice the worldwide average last quarter compared to the previous quarter, according to a report released by Appleby, a provider of offshore legal, fiduciary and administration services.
The latest edition of Offshore-i, the firm’s quarterly report which provides data and insight on merger and acquisition activity in major offshore financial centres, focuses on Q2 2012.
The key themes emerging from the report show that in the second quarter of 2012 the value of deals involving offshore targets increased 12 per cent, up USD3.8bn from the previous quarter. This compares to a six
Premium bar and nightclub operator Novus Leisure has been sold by majority shareholders Barclays Ventures and RBS Strategic investment Group for GBP100m to new investors LGV Capital and Hutton Collins, which have backed the existing management team.
Novus Leisure is the UK’s largest private bar and nightclub operator having a portfolio of 52 primarily London-based premium bars, including Balls Brothers and Tiger Tiger outlets and Polynesian themed nightclub Kanaloa.
Novus Leisure also operates nightlife guide website www.latenightlondon.co.uk.
Latham & Watkins represented Barclays Ventures, RBS and the Novus Leisure management team as sellers in the transaction with a deal team
Koontz-Wagner has completed the previously announced sale of its subsidiary, Koontz-Wagner Custom Controls, to Global Power Equipment Group.
Custom Controls is a manufacturer and integrator of engineered packaged control house solutions for the energy, oil and gas, and electrical industries.
Headquartered in Indiana, Custom Controls has delivered products and services to more than 1,000 customer sites in over 35 countries.
The Custom Controls acquisition will expand Global Power’s products portfolio to its current customers and supports global expansion into adjacent infrastructure products and services.
Luis Manuel Ramírez, president and chief executive officer of Global Power, says: “We are acquiring a
European private equity firm Cinven has sold 10.8 million ordinary shares of Ziggo NV, the largest cable operator in the Netherlands, at a price of EUR23.50 per share, realising EUR255m of gross proceeds.
Following the listing in March 2012 and this sale of shares, Ziggo will have generated total proceeds of EUR569m for the Fourth Cinven Fund and a total money multiple of 2.7x including Cinven’s remaining shareholding in the company.
At close of trading on 30 July 2012, Ziggo ordinary shares were trading at a 34 per cent premium to the issue price. On completion of this transaction, Cinven
Total assets under management held by private equity funds worldwide have reached USD3 trillion for the first time, highlighting the sustained growth of the industry despite challenging wider economic conditions, according to research conducted by Preqin for the 2012 Private Equity Performance Monitor.
The figure is calculated using unrealised portfolio value and the dry powder (uncalled capital) available to private equity funds across the whole scope of the asset class.
Industry assets under management increased by nine per cent from December 2010 to December 2011.
Buyout funds account for approximately 40 per cent of the industry’s assets – USD804bn in
CitySprint, a UK same day distribution network, has completed its sixth acquisition since it was backed by Dunedin, the UK mid-market private equity house, in 2010.
CitySprint has acquired the same day courier, UK overnight and international operations of Scarlet Couriers.
CitySprint is on track to deliver GBP100m of revenues in 2012.
Nicol Fraser, director at Dunedin who sits on CitySprint board, says: “Dunedin continues to build value through acquisitions and organic growth. Scarlet Couriers represents the sixth strategic acquisition undertaken by Citysprint in the last 18 months and the 12th by Dunedin portfolio companies in total.”
The
Maitland, the international wealth and fund services firm, has acquired 100 per cent of Inter-Ocean Management, a corporate services and trust company based in Mauritius.
The deal takes effect from 1 July 2012.
Over the past five years, Mauritius has transformed itself into a springboard for trade and investment into Asia and the fast-growing markets of Africa. Mauritius’ favourable tax regime and wide international double tax and bilateral investment treaty network makes it a sought after jurisdiction for the establishment of international holding companies and trusts for international corporations and individuals. It is also a suitable jurisdiction for the establishment
AXA Private Equity, the European diversified private equity firm, has signed an agreement with the management team of Fives Group, led by Frédéric Sanchez, to acquire a stake in the company.
As part of the same transaction, the management team becomes the majority stakeholder as Fives enters the next phase of its development. As a result, previous owner Charterhouse now fully exits its stake in the company.
Since rebranding as Fives in 2007, the group has grown to become a major player in sustainable industrial development. Fives designs and supplies production lines and ready-to-work factories for the world’s largest industrial
United Initiators has acquired Syrgis Performance Initiators (SPI) from Syrgis Performance Products, which is owned by Edgewater Capital Partners.
SPI is a manufacturer of customer tailored formulations of ketone peroxides in North America and Europe and benzoyl peroxides in North America. Both products are organic peroxide initiators used in the production of thermoset composite materials.
Headquartered in the US, SPI has a global reach with manufacturing locations in the US and Sweden in addition to trading operations in Shanghai. In 2011, SPI had total net sales of approximately USD50m.
Acquiring SPI will enable United Initiators to expand
An affiliate of private equity investment firm HIG Capital has completed the acquisition of substantially all the assets of Arctic Glacier Income Fund.
The transaction was effectuated pursuant to the Companies’ Creditors Arrangement Act (Canada) and the US Bankruptcy Code.
The new company, Arctic Glacier Holdings, will be based in Winnipeg, Canada, and will continue to conduct business under the Arctic Glacier name.
Arctic Glacier is a producer, marketer and distributor of packaged ice. The company is the largest producer of packaged ice in Canada and the second largest producer in the US. Arctic Glacier operates a network of 39
Events
12 November, 2026 – 8:00 am
12 November, 2026 – 5:00 pm
