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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
Private equity funds lawyers John Daghlian and Mary Lavelle are to join the Akin Gump as partners in London. They will both come to Akin Gump from the London office of O’Melveny & Myers.
Together, they will join the firm’s investment management practice and transactional platform. They will work closely with partners Daniel Quinn and Aleks Bakic, who recently joined the firm from O’Melveny & Myers (read more here), as well as the firm’s established US- and UK-qualified private equity funds lawyers in London, across the United States and in Asia.
A senior funds lawyer with nearly three decades’
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
Estera, a leading global provider of funds, corporate and trust services, has appointed Ethan Levner as Group Head of Funds, with overall responsibility for funds operations across the 11 jurisdictions the business operates in.
Estera is a specialist in fund administration and associated services. It provides a full range of administration services to a wide variety of blue-chip companies across asset classes including private equity, property, debt and funds listed on the LSE and TISE.
Levner has assumed this role in addition to his responsibilities as Managing Director of Estera Guernsey and Group Head of Corporate Development.
Levner
Offshore law firm Carey Olsen has appointed Michael Padarin as a corporate partner in its Hong Kong office.
Padarin, who practises British Virgin Islands (BVI) and Cayman Islands law, will spearhead the development of Carey Olsen’s new corporate offering in Hong Kong. He specialises in the formation, operation and restructuring of private investment funds, primarily private equity and venture capital funds, and their related fund sponsor vehicles. He also has significant experience representing early and later stage companies in a range of industries, including fintech, life sciences and technology, in relation to private financings, listings, cross-border investments and other M&A
YFM Equity Partners (YFM) has appointed Helen Villiers as Investment Manager. Based in the London office, she will focus on supporting YFM’s new investment activity, working with the existing team to deploy funds into growing businesses at points of transformational change.
Villiers’ appointment comes at a time of significant activity for YFM, with investments in The Protein Works from its Buyout Fund 1, marking the eighth investment from the fund, as well as recent scale up capital investments in Frescobol Carioca, Elucidat, Wooshi and Tonkotsu from its two advised VCTs.
Villiers, a qualified chartered accountant, joins from Grant Thornton’s Corporate
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
Kaiserwetter Energy Asset Management (Kaiserwetter) has launched IRIS – Analytics Machine, a technology spin-off of IoT platform Aristoteles.
The algorithms developed by Kaiserwetter provide detailed analysis of operational data of renewable energy facilities for a given point in time and are aimed at accelerating the technical due diligence process for wind farms and the respective machinery prior to M&A transactions. Kaiserwetter provides data reports to the client within five days.
The data reports include an assessment of possible performance increase (potential gain), which is regarded as a “magic number” for stakeholders in the investment cycle. Kaiserwetter’s clients can see whether
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
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