Managers
High Road Capital Partners’ portfolio company Banner Solutions has completed the acquisition of Berg Wholesale, marking the fourth acquisition for the company under High Road Capital’s ownership.
Based in Tualatin, Oregon, Berg Wholesale is a wholesale distributor of door hardware, bath hardware, and security products for the residential and multi-family housing markets. In addition to its Portland-area headquarters, Berg has distribution centres near Anaheim, California, and Orlando, Florida.
Banner Solutions, formerly Midwest Wholesale Hardware, was acquired by High Road Capital Partners Fund II in February 2017. Its acquisition of Berg Wholesale follows its acquisitions of Akron Hardware, Hardware Suppliers
An affiliate of HIG Capital (HIG), a private equity investment firm with over EUR26 billion of equity capital under management, is to acquire the European Polyurethane Systems Business in a carve-out transaction from Covestro AG.
The transaction is subject to clearing by the relevant antitrust authorities with closing anticipated for the second half of 2019.
The European Polyurethane Systems Business operates four systems houses in Germany, Denmark, the Netherlands and Spain. It employs approximately 250 full-time employees and generates annual sales of approximately EUR230 million. Systems houses develop and formulate tailor-made ready-to-use chemical blends for the production of a wide
Whitehelm Capital’s Listed Core Infrastructure Fund (LCIF) has passed its third anniversary achieving a return of 16.5 per cent pa gross of fees and 15.3 per cent pa net of fees, in GBP unhedged, since inception on 31 May 2016.
The Fund’s performance exceeds the OECD CPI + 5 per cent benchmark by 7.7 per cent pa. LCIF has received a 5-star quantitative Morningstar Rating as a result of its strong performance relative to its peer group. Since inception, LCIF’s investment philosophy has been underpinned by an active approach to Responsible Investment and addressing Environmental, Social, and Governance (“ESG”) issues. This
Rockpool has backed the management buyout of Datum Alloys, a steel stencil foil manufacturer in Europe and the USA. This is Rockpool’s 5th investment in the last twelve months and brings the total invested to over GBP400 million since the firm was established in 2011.
Datum Alloys (Datum) is based in Kingsbridge, Devon and was established in 1993. Datum provides precision stainless steel stencil foils to the electronics industry and is the leading supplier of its product in Europe and the USA. The company employs 32 people and has manufacturing facilities in Kingsbridge in the UK as well as Endicott
Private equity firm Clessidra SGR is to acquire an 80 per cent stake in L&S Group, a specialist in the interior lighting sector, with a particular focus on the furniture industry.
Founded in 1977 in Maron di Brugnera (PN), home of the largest furniture district in Italy, L&S manufactures and distributes lighting solutions and embedded LED systems for residential, industrial and retail applications. A solid expansion strategy developed overtime has led L&S to operate in over 70 countries worldwide, with four manufacturing facilities in Italy, Germany, China, and the United States, and over 400 employees, recording total revenues of approximately
HIG WhiteHorse, a credit affiliate of private equity firm HIG Capital, has arranged a EUR60 million Senior Secured Loan for Grupo Hospitalario Recoletas (Recoletas).
Recoletas is a family-owned Spanish hospital group headquartered in Valladolid, Spain. It focuses on the private healthcare market, and operates 7 hospitals and several clinics. The company works with all local insurance companies (c.90% revenues), and maintains a dominant position in Castilla and Leon.
HIG WhiteHorse has provided a flexible financing structure which replaces the company’s existing debt facility and provides additional capital to support growth, continuing the revenue expansion already initiated.
Amando Rodríguez, CEO at
Quantum computing software developer Riverlane has raised GBP3.25 million in seed funding, led by venture capital investors Cambridge Innovation Capital and Amadeus Capital Partners, with the participation of Cambridge Enterprise.
Riverlane is building a simulation engine for microscopic systems to replace expensive laboratory tests with computer simulation. Riverlane’s software leverages the capabilities of the quantum computer, which operates using the principles of quantum mechanics. In the same way that graphics processing units (GPUs) accelerate machine learning workloads, Riverlane uses quantum computers to accelerate the simulation of quantum systems.
The company is working with leading academics and companies on critical early
Old Mutual Private Equity (OMPE), the direct private equity investing arm of Old Mutual Alternative Investments, has acquired a majority interest in Footgear, a South African retailer of branded footwear.
The transaction was finalised on 3 June 2019 and is pending approval from the Competition Commission.
Founded in 2001, Footgear is a retailer of branded footwear with 63 stores nationwide. Footgear’s footwear offering is family orientated, catering across categories, gender and age-groups, servicing men, women and kids underpinned by high levels of customer service, in a unique shop setting delivered by an energetic and motivated staff complement. Its offering includes an array of sports performance footwear, sports-inspired lifestyle, casual and leisure
O’Melveny has advised Kayne Partners on a USD25 million minority investment in executive search firm Riviera Partners. Private equity firm ROCA Partners joined Kayne in the investment, which was announced on 4 June, 2019.
Kayne Partners is the growth equity group of Kayne Anderson Capital Advisors, a provider of capital and connections to privately held, high growth, enterprise software and tech-enabled service businesses in North America. Headquartered in Los Angeles, Kayne has invested more than USD500 million in platform investments and add-on acquisitions together across four funds.
The O’Melveny team advising Kayne Partners was led by partners David Smith and
Browne Jacobson has advised Mobeus Equity Partners on its GBP3 million capital growth investment in Parsley Box.
The investment will be used to accelerate product development, customer acquisition and recruitment in the Edinburgh based business which was established in 2017 by Adrienne and Gordon Macaulay to provide nutritionally balanced meals for the UK’s growing elderly population.
The business currently offers a choice of over 70 ambient meals and has to date completed 130,000 orders for over 75,000 customers.
Mobeus Equity is a leading lower mid-market UK private equity investor and venture capital firm, specialising in management buyouts, growth capital and
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