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An affiliate of funds advised by SK Capital Partners (SK Capital) is to sell Niacet Corp (Niacet) to Kerry Group plc, the global taste and nutrition company, for USD1,015 million (EUR853 million) on a cash-free, debt-free basis, subject to customary closing adjustments.
Following the acquisition, Niacet will be integrated into Kerry’s global food protection and preservation platform.
Jack Norris, Managing Director at SK Capital, says: “SK Capital is privileged to have partnered with Kelly Brannen and the entire Niacet team. We are proud and appreciative of Niacet’s accomplishments over the last four years leveraging the strong foundation the Brannen family
Oxwash, the UK-based green laundry startup backed by Twitter co-founder Biz Stone has raised GBP2.08 million (USD3 million) in seed expansion investment, to clean up the traditional and environmentally costly washing and dry cleaning sector with its space-age technology.
The Agri-Business Capital Fund (ABC Fund) has invested USD1 million in Apollo Agriculture (Apollo), a Kenyan ag-tech which uses machine learning and automated operations technology to help small scale farmers access the resources they need to maximise their profitability.
Darshan Patel, Chairman & Joint-Managing Director, and Dipam Patel, Joint-Managing Director of Indian personal care and beauty products company Vini Cosmetics, and Sequoia Capital, are to sell a majority stake in the Company to KKR for approximately USD625 million.
The Co-Founders will continue to hold a significant stake in Vini and collaborate with KKR in the next phase of the Company’s growth. In addition, existing investor WestBridge Capital will acquire a further stake from the Founder Group to increase its shareholding in Vini.
Founded in 2010, Vini manufactures, markets and distributes its branded deodorants, cosmetics and toiletries through its flagship
Mid-market private equity firm LDC has invested GBP13 million in digital media company Hybrid. LDC’s investment will support Hybrid’s existing management team to grow and develop the business organically and explore targeted acquisitions.
Hexcite Group, a provider of design, communication, brand activation, signage, display and merchandising products and services for major brand owners and retailers, has appointed Wes Mulligan as Group Chief Executive.
Mulligan has led a number of businesses across retail, leisure and support services sectors. In recent years, as CEO of Danwood, he led the turnaround and exit of the UK’s largest independent supplier of printers and photocopiers. At Selecta, the vending and coffee business, he led the integration and alignment of five businesses into one to create a GBP200m-plus turnover market leader.
Mulligan joins the Hexcite Group as it
Adenia Partners, a private equity firm investing in Africa, has acquired a majority stake in Herholdt’s, a leading distributor of low-voltage electrical products and solar products in South Africa. Financial terms of the transaction have not been disclosed.
Established in 1964, Herholdt’s operates in Bloemfontein, Kimberley and George, and has recently opened branches in Johannesburg and Cape Town.
Herholdt’s supplies a broad product portfolio of 10,000-plus items to professionals – such as installers, contractors and resellers – as well as end-users. Herholdt’s originally focused on the sale of electrical equipment such as cabling, switches and sockets, as well as lighting.
Wheelhouse Advisors, a provider of prudential management, regulatory reporting and accounting, tax and HR support to the financial services sector, has partnered with ThinCats, a funding specialist for the mid-market.
Inflexion has acquired ANS, a provider of digital transformation and cloud managed services.
ANS and existing Inflexion investment UKFast will be brought together under one parent group to address the rapid market growth opportunity for digital and cloud services. The group will combine ANS’s public cloud, DevOps, applications and data expertise with UKFast’s leadership in private cloud, hosting and security, to create the UK’s independent leader in secure cloud-led digital transformation across the public and private sectors.
Each business will continue to operate under its existing brand, while offering customers the full portfolio of offerings from across the extended group.
Private equity investment firm Growthdeck has closed a GBP4.3 million fundraise for the new bar group Maven Leisure, completing the investment firm’s largest single raise.
Maven Leisure is looking to open at least seven premium bars in central London supported by this funding. The fundraise has been structured as GBP2.3 million in EIS-qualifying equity and GBP2 million in mezzanine debt. It will be used to take advantage of very favourable conditions for acquiring prime landmark London sites.
Maven’s group of bars will be anchored by a landmark new rooftop site on King William Street in the City of London, featuring
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