Latest News
High Net Worth private investors are ready and willing to provide small and medium-sized British businesses (SMEs) with the financial support they will need as they recover from the impact of Covid-19, reveals research by Connection Capital, a specialist private client investment business.According to a survey among 233 Connection Capital clients with an estimated combined net worth of over GBP2 billion, nearly three-fifths (58 per cent) say they are interested in private equity as an investment strategy over the next 12 months, while almost a third (31 per cent) are interested in private debt.
Connection Capital says that previously successful
- 16/06/2020
Fund+, an VC investment firm focused on innovative European Life Sciences companies, has added Luc Debruyne and Gérard Lamarche to its B hard of Directors. In accordance with the Company’s governance charter, Honorary Chairman Désiré Collen, Arnoud de Pret, Pierre Drion and Hilde Laga have stepped down from the Board following expiry of the term of their office. Désiré Collen, Honorary Chairman, will remain as a Board observer.
Chris Buyse, Managing Partner and Executive Board Member of Fund+, says: “We are delighted to welcome Luc Debruyne and Gérard Lamarche to the Board. Luc Debruyne brings outstanding scientific and commercialisation experience from
- 16/06/2020
- 16/06/2020
Ancala Partners (Ancala), an independent infrastructure investment manager, has agreed to buy Hector Rail AB (Hector Rail) from EQT, including its subsidiary Hector Rail GmbH, on behalf of its European Infrastructure Fund II. Completion on the transaction is expected in Q3 2020.
Hector Rail is the largest privately-owned rail freight operator in Scandinavia and one of the few running corridor traffic between Sweden and Germany. It is growing its presence in Germany, Europe’s largest freight market, where it focuses on attractive niche segments, such as energy and intermodal flows.
Founded in 2004, the company has over 100 locomotives and
- 16/06/2020
- 16/06/2020
Innova Capital, a private equity fund in Central and Eastern Europe, has promoted Magdalena Pasecka to the position of Partner. As Partner, Pasecka will continue to fulfil the role of Innova Capital’s CFO.
“I am proud to have earned the trust of the Innova Partners and to have received this promotion. In the new role – alongside my existing activities in fund operations and portfolio monitoring – I will spend more time on the strategic outlook for portfolio companies with the intention of focusing on value and return enhancement opportunities” – says Pasecka.
Pasecka joins Andrzej Bartos, Krzysztof Kulig and
- 16/06/2020
- 16/06/2020
Enstar Group Limited (Enstar) has agreed to a recapitalisation of StarStone US Holdings (StarStone US) led by SkyKnight Capital (SkyKnight), Dragoneer Investment Group (Dragoneer) and Aquiline Capital Partners (Aquiline).The Investors have committed USD610 million in new equity capital which, together with the rollover of Enstar’s existing ownership, and an additional equity commitment of over USD20 million from management, will increase the equity capitalisation of StarStone US to over USD850 million. Enstar will receive a combination of cash consideration and shares in the recapitalized StarStone US, valued at a modest premium to book value.
As part of the capital infusion, a new
- 16/06/2020
A new survey by Intertrust, a global leader in providing tech-enabled fund and corporate solutions, reveals how Covid has impacted the decision making behind carve-outs.During a recent webinar, addressing how best to create value through carve-outs, a third (33 per cent) of industry professionals said they intended to start looking for acquisition opportunities while 11 per cent planned on initiating a strategic review of potential carve-out opportunities.
A record level of dry powder in the market is a driving factor in the expected rise in carve-outs. M&A is also likely to play a big role in the restructuring of companies
- 16/06/2020
- 16/06/2020
Private equity investors are still seeking new deal opportunities despite expected declines in revenue as experienced by their portfolio companies and no wider ‘return to normal’ until 2021.That’s according to a new global study on how Covid-19 has impacted private equity firms’ and investors’ forecasts and strategies from international audit and advisory firm Mazars.
Covering more than 150 investors in Europe, the Americas and Asia, the ‘Covid-19 and the world of private equity’ study sheds light on private equity and investor concerns and gauges their sense of optimism for the future.
Paul Joyce, Head of London M&A at Mazars, says:
- 16/06/2020
Chiltern Capital (Chiltern) has completed an investment in Doby Verrolec Limited (Doby), a UK-based manufacturer of HVAC ductwork jointing systems and ductwork components. Doby was previously a subsidiary of Heitkamp & Thumann, a family owned industrial manufacturing group headquartered in Dusseldorf.
Based in Stanley in County Durham, Doby can trace its origins back to the 1950s and employs over 50 people at its headquarters.
Chiltern has taken a majority stake in the company and will play an active role in supporting Malcolm Moss (Managing Director) and Terry Dingley (Works and Technical Director) to accelerate growth. As part of the transaction, experienced
- 16/06/2020
- 16/06/2020
Investment company Kinnevik has agreed to sell 23.2 per cent of the shares in Nordic digital commerce group Qliro Group to Swedish VC fund Rite Ventures.
The deal is expected to close in the third quarter of 2020. As a partial payment for the sold Qliro Group shares, Kinnevik will receive up to 47,439 shares in MatHem, corresponding to 0.5 per cent of the total number of shares in the company.
The balance will be paid through a promissory note from Rite Ventures, which under some circumstances provides for a purchase price adjustment.
The total consideration that Kinnevik expects to
- 15/06/2020
The Luxembourg-domiciled euro denominated structure closed with EUR 260 million of commitments on 27 March, surpassing its EUR200 million target.
Neuberger Berman launched the Crossroads funds of funds platform in the early 1980s, with the aim of constructing diversified private equity portfolios across asset classes, strategies and geographies.
The new fund, NB Euro Crossroads 2018, invests concurrently with the international fund; together they have commitments of over USD1 billion.
Investors include pension funds, insurance companies and family offices from continental Europe and the Nordics. “We identified demand in Europe for a Luxembourg domiciled euro denominated structure,” said Dik van Lomwel,
- 15/06/2020
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