Managers
Practice Plan, a leading UK provider of membership plans and other support services to dental practices, backed by UK private equity house Dunedin, has made two transformational acquisitions; Isoplan, a UK dental plan provider, and Medenta, the market leader in dental patient finance.
Based in Oswestry, Shropshire, Practice Plan is known for its innovative approach to helping dental practices grow their customer bases by offering marketing, business and consultancy support, in addition to providing practice branded dental membership plans.
These acquisitions form part of an active business expansion strategy, demonstrated by the company’s exceptional growth since Dunedin made its original
Blackboard has completed its acquisition by an investor group led by affiliates of Providence Equity Partners in an all-cash transaction valued at approximately USD1.64 billion in enterprise value, plus the assumption of approximately USD136 million in debt.
As previously announced, the transaction was approved by Blackboard stockholders at a special meeting of stockholders held 16 September, 2011.
Pursuant to the terms of the acquisition agreement, Blackboard stockholders will receive USD45.00 in cash for each share of Blackboard common stock. The transaction represents a 21 per cent premium over the closing price of USD37.16 per share on April 18, 2011,
Monroe Capital has funded a USD27.5 million unitranche facility to support the acquisition of Fabco Automotive Corporation Partners by Wynnchurch Capital, Ltd.
Based in Livermore, CA, Fabco is a leading North American supplier of highly engineered, specialty gearbox, axle and transfer case products for all-wheel drive, medium and heavy duty vehicles used in severe service applications. Prior to the acquisition by Wynnchurch, Fabco was a subsidiary of Accuride Corporation.
Tom Aronson (pictured), Managing Director at Monroe Capital, said: “Our unitranche facility was ideally suited to finance the acquisition of Fabco. A corporate divestiture is always a more challenging transaction. We
Velocis Fund has met its first fund closing target. The real estate private equity fund accepted USD36.5 million in capital commitments and an additional USD4.7 million of co-investment equity for a total of USD41.2 million of equity under management. Incorporating maximum leverage of 60 per cent, this first closing will give Velocis Fund approximately USD100 million in purchasing power.
"This closing has taken our fund from concept to reality," says Fred Hamm, Velocis managing principal. "We are carrying out our original stated strategy and are continuing to pursue real estate assets that meet our investment criteria. While excited about this
Independent fund services provider Butterfield Fulcrum, and Luxembourg Investment Solutions SA (LIS), a regulated (UCITS-licensed) management company, have signed a strategic cooperation agreement to provide a complete suite of management company and fund administration services in Luxembourg.
This relationship offers non-European fund initiators a quick and cost effective solution to launch Luxembourg-domiciled funds with a single point of contact for fund administration and corporate secretarial needs. With a focus on alternative investment funds and structures, this strategic partnership will help investment managers, institutional investors and family offices realise their investment ideas through a unique plug and play solution.
Butterfield Fulcrum
Some 674 private equity-backed buyouts deals worth an aggregate USD60.6bn were announced in Q3 2011, a 23% decrease in value from the previous quarter’s total of USD78.7bn, according to Preqin’s quarterly deals data. A total of 254 exits valued at an aggregate USD56.2bn were announced in Q3 2011, 54% down from the record total of over USD120bn in Q2 2011.
In Q3 2011, 670 private equity-backed buyout deals with an aggregate value of USD60.6bn were announced, a 23% decrease in value compared to Q2 2011. However, aggregate deal value in Q3 2011 is 7% larger than in Q1 2011, when
Latham & Watkins represented DIC, the private equity arm of Dubai Holding, in connection with the sale of Ishraq Dubai LLC (Ishraq Dubai) to Almulla Group.
Ishraq Dubai was 51% owned by DIC and 49% owned by Ishraq Gulf Real Estate Holding BSC, which in turn is majority owned by DIC. Ishraq Dubai owns four hotels in Dubai operating under the franchised Holiday Inn Express brand, located in Dubai Internet City, Al Safa, Jumeirah and at Dubai International Airport Terminal 3.
The Latham & Watkins mergers and acquisitions team was led by Dubai partner Charles Fuller and associate Will Seivewright.
CI Capital Partners, a North American private investment firm, has acquired Galls, LLC, a USD163 million revenue, full service marketer and distributor of public safety, first responder and private security products, from ARAMARK Corporation. The terms of the transaction were not disclosed.
Founded in 1967, the Lexington, Kentucky based Galls markets and sells uniforms, duty gear, footwear, medical supplies and other products used by law enforcement, fire safety, emergency medical, private security and corrections personnel. The Company has built its reputation by providing customers with the industry’s broadest offering of well-recognised products, fast delivery and a high level of customer
Guernsey’s commitment to meeting international standards of transparency and exchange of information in tax matters was further underlined last week, with the signing of a Tax Information Exchange Agreement (TIEA) with the Republic of Slovenia.
Iztok Jarc, Ambassador of the Republic of Slovenia, and Lyndon Trott (pictured), Guernsey’s Chief Minister, signed the agreement at a ceremony in the Island’s capital, St Peter Port, on Monday 26th September.
The Chief Minister says: “I was honoured to welcome His Excellency, Iztok Jarc, to Guernsey for the signing of this important agreement. The signing of this TIEA is yet another example of Guernsey’s
AXA Private Equity portfolio company Kallista has acquired Poweo’s operational French wind farms from VERBUND, Austria’s leading electricity company.
This latest investment strengthens Kallista’s position in the French renewable energy market and underlines the continued support of AXA Private Equity for its industrial partner. This acquisition increases the number of wind farms operated by Kallista in France from 19 to 29 and its installed capacity from 194 MW to 296MW, corresponding to the annual electricity household consumption of a city the size of Lyon (240 000 households), making it the leading non-integrated wind energy producer France.
Today’s transaction was completed
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