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An affiliate of private equity investment firm HIG Capital has completed the acquisition of Cardinal Logistics (Cardinal), a provider of dedicated transportation and logistics services in North America.
Founded in 1997 and headquartered in Concord, NC, Cardinal provides fully outsourced transportation and logistics solutions to customers across diverse end markets. The Company’s dedicated contract carriage offering allows customers to lock in dedicated fleet and drivers, servicing complex route structures with scheduled pick-ups and deliveries across distribution centres, suppliers, and stores. Cardinal is able to enhance operating efficiencies and deliver exceptional service to its customer base.
“Partnering with HIG enables Cardinal
EY has appointed Paul Ahern as Partner to lead its mid-market Private Equity team.
Ahern rejoins EY – having previously led the firm’s Parthenon UK strategy business for a number of years – following a period supporting an early stage technology business where he successfully supported growth as well as a number of fundraising cycles.
At EY, Ahern will be focused on developing the firm’s mid-market private equity business, supporting clients across their life cycle, driving maximum value for their investments and assets.
Commenting on his appointment, Ahern says: “Mid-market remains the area where the greatest volume of
YFM Equity Partners (YFM), a specialist private equity fund manager has backed the MBO of The Protein Works from B&B Investment Partners.
Dan Freed and Andy Thomas lead the investment for YFM and this announcement marks the 8th investment from YFM’s Buyout Fund I taking it past 70 per cent invested.
Founded in 2012, The Protein Works is a direct-to-consumer sports nutrition business that sells a wide range of protein powders, snacks, supplements, and foods, manufactured at their 34,000 square foot facility in Runcorn, Cheshire. The business has won several awards including New Business of the Year 2014 at
INVL Baltic Sea Growth Fund is investing up to EUR30 million into Grigeo cardboard business, a leading paper and wood industry company for the Baltic region.
Under this agreement, up to 49.99 per cent of Grigeo Investicijų Valdymas shares, a company owned by Grigeo, will be acquired by BSGF Salvus, a subsidiary of the fund, in two phases. The transaction is to be completed upon the fulfillment of contractual terms and conditions, subject to the permission issued by the Competition Council.
In the first phase, BSGF Salvus, a subsidiary of the INVL Baltic Sea Growth Fund, will acquire a new
Corsica Technologies, the managed IT services platform of private investment firm Inverness Graham Investments, has acquired EDTS and EDTS Cyber (EDTS), a full-service, Managed IT Solutions Provider (MSP) serving small to medium-sized organisations.
EDTS also operates as a Managed Security Services Provider (MSSP) delivering critical security services to help clients protect their data.
“Corsica’s acquisition of EDTS allows us to strategically expand our geographic footprint into markets with similar size and maturity characteristics,” says Trey Sykes, Managing Principal of Inverness Graham. “EDTS broadens our platform service capabilities and strengthens our operations and technical know-how in the areas of security, automation,
New research from Luxoft, a global technology services and consulting partner, has revealed that Tier one, Tier two and Tier three investment banks are overconfident about the EU’s new Securities Financing Transactions Regulation (SFTR), which comes into force next April.
Almost all (99 per cent) senior compliance professionals responsible for implementing the regulation are confident they will meet the requirements, yet Luxoft’s Regulatory Outlook Report shows that this confidence may be misplaced.
Some 98 per cent of Tier one, Tier two and Tier three investment banks will be relying on systems and process infrastructure used for past regulations such
Barnes & Noble is to be acquired by funds advised by Elliott Advisors (UK) Limited (Elliott) for USD6.50 per share in an all-cash transaction valued at approximately USD683 million, including the assumption of debt.
Elliott’s acquisition of Barnes & Noble, the largest retail bookseller in the United States, follows its June 2018 acquisition of Waterstones, the largest retail bookseller in the United Kingdom. James Daunt, CEO of Waterstones, will assume also the role of CEO of Barnes & Noble following the completion of the transaction and will be based in New York.
The USD6.50 per share purchase price represents a
The first wave of middle-office outsourcing deals came on the heels of the the credit crisis in 2008. Given this timing, it should come as no surprise that the origin of these first generation deals was driven by cost savings. At the time, middle-office operations was viewed as a necessity but also a cost centre.
SANNE, a provider of alternative asset and corporate business services has appointed Malcolm Hassan as managing director of business development and marketing.
Based in SANNE’s London office, Hassan will oversee business development alongside brand & market positioning across its global platform.
Hassan will focus on achieving SANNE’S growth strategy of supporting the ambitions of fund managers with investment strategies that span the alternatives asset class through its professional services offering and jurisdictional reach.
With more than 23 years of industry experience, Malcolm joins SANNE from RBS where he was responsible for building and growing RBS’ Funds Banking business to be
Private equity firm The Riverside Company has invested in Champion Healthcare Technologies (Champion), a SaaS provider that enables hospitals to manage surgical implants throughout their life cycle – from receipt, inventory storage and usage to post-surgical tracking and reporting.
Champion is combining with HemaTerra Technologies (HemaTerra), a provider of SaaS-based solutions for independent and hospital-based blood collection centers and plasma collection centres. Riverside made an investment in HemaTerra earlier this year.
Champion’s industry-leading solutions are used by many of the largest and most sophisticated health systems in the US. Through deep integration with vendors, system-wide visibility into implants and analytics,
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