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Law firm Paul Hastings has represented Oakley Capital, a Western Europe-focused private equity firm, on its Fund III acquisition of Ekon.
Ekon is a Spanish provider of enterprise resource planning software, with the acquisition structured as a carve-out from the Iberian operations of its seller, Unit4.
The Paul Hastings team included corporate partner Anu Balasubramanian and corporate associates David Prowse and Aimée Fabri alongside tax associate Jiten Tank. Uría Menéndez, led by corporate partner Juan Carlos Machuca and corporate associate Alvaro Hernandez advised on the Spanish law aspects of the transaction.
This is Paul Hastings’ second transaction for Oakley Capital in 2019. Anu Balasubramanian
Funds advised and managed by YFM Equity Partners (YFM), a specialist private equity fund manager, have backed a significant investment into Frescobol Carioca Limited (Frescobol).
YFM’s investment comes from its two advised VCTs, British Smaller Companies VCT plc and British Smaller Companies VCT2 plc.
Founded in 2013 as the brainchild of friends Harry Brantly and Max Leese, Frescobol’s roots lie in their Brazilian heritage and travel experiences, which are reflected in a range of luxury men’s swimming trunks and resort wear that references and brings to life the Rio beach lifestyle. Growth in recent years has been rapid, now
Zeus Capital has acted as exclusive financial adviser to the shareholders of Prestat, the manufacturer, wholesaler and retailer of premium chocolates, on its sale to Italian coffee dynasty and chocolatier Gruppo illy.
Established in 1902, Prestat produces over 300 tonnes of chocolates and baked goods per annum from its artisan kitchens in London. Products are distributed throughout the UK and exported to more than a dozen countries from Japan and the USA to China and the Middle East. Prestat made GBP7m in sales for the year ended 30 April 2018.
Prestat was a favoured haunt of Roald Dahl, author
The Alternative Investment Management Association (AIMA) is opening a new office in Washington, DC. The office, which opens this week, will support the association’s growing membership and government affairs work in the United States.
The DC location expands AIMA’s existing US footprint and complements the association’s regional headquarters in New York. It will allow AIMA to deepen relationships with local regulators and work collaboratively with other industry bodies on behalf of the alternative investment industry. The additional resources will also facilitate the expansion of local committees, peer networks other practical tools for members in the US.
Jiri Krol, Deputy CEO
A consortium led by private equity firms Apax and Warburg Pincus is to acquire British satellite communications company Inmarsat in a deal worth USD3.4 billion.
The consortium, which also includes the Canada Pension Plan Investment Board (CPPIB) and the Ontario Teachers’ Pension Plan Board (OTPP), has agreed to pay USD7.21 in cash for each share of the FTSE 250 firm and says it will maintain Inmarsat’s HQ in the United Kingdom. It will also “maintain a level of expenditure on R&D consistent with Inmarsat’s past practice, in recognition of the importance of R&D to Inmarsat’s ability to continue to develop
Global investment bank GCA Altium has advised the UK’s leading independent mobile live games developer, Mediatonic, on an investment from Synova Capital.
Founded in 2005, and with headquarters in London, Mediatonic has launched over 100 games in partnership with some of the world’s largest game publishers, including Scopely and Square Enix. The company develops and manages the IP of multiple household games, including ‘Gears Pop!’ and ‘Fantastic Beasts: Cases from the Wizarding World’.
The partnership funding will support Mediatonic’s further growth, allowing it to invest in strategic partnerships, develop new titles and publish niche games by third party developers, such as
Equistone Partners Europe (Equistone), one of Europe’s leading mid-market private equity investors, has made four appointments to its investment team across Europe. The new appointments strengthen Equistone’s origination and investment capabilities across its core markets.
Two of the appointments have been made in Equistone’s Munich office: Julia Brunswicker will join the firm as an Investment Manager, and Hubert van Wolfswinkel as a Director, operating across Germany and the Netherlands. Additionally, Isabella Boman-Flavell and Caroline Pinton have each been appointed as Investment Managers and will join Equistone’s offices in London and Paris, respectively.
Guillaume Jacqueau, Managing Partner of Equistone, says:
Oase Living Water (OASE), a portfolio company of buyout firm Argand Partners, has acquired the German-based Söll Group (Söll), a supplier of specialised water treatment products, water analysis and filtering technology, and premium fish food for consumer and commercial applications.
Headquartered in Hörstel, Germany, OASE is the global market leader in water gardening products, offering a suite of products that enable the creation of tranquil, inviting outdoor oases, from simple to elaborate. The terms of the transaction were not disclosed.
The Söll Group has a 25-year history of developing and producing environmentally friendly and innovative premium water treatment
BGF is investing EUR5 million to support the growth of Winterbrook, a family-owned residential house builder based in Dublin. BGF will take a minority stake in the company.
The funds will be used to support development activity across the residential, private rental and commercial sectors. BGF expects to provide significant follow-on funding to Winterbrook as further market opportunities arise in the future.
This is the second transaction by BGF in the Republic of Ireland. It follows a recent investment of EUR10 million in the nursing home operator, Brindley Healthcare (announced in January of this year).
Winterbrook was
Bowmark Capital, a mid-market private equity firm, has completed the take-private of AIM-listed Tax Systems Plc, a provider of corporation tax software and services in the UK and Ireland. The transaction values Tax Systems at GBP114 million.
Founded in 1991, Tax Systems’ portfolio of solutions automates the end-to-end tax compliance process, enabling the company’s clients to increase the accuracy of their tax reporting, reduce the risk of non-compliance and free up the tax function to focus on value-adding tasks. Clients include a large proportion of the FTSE 250 and 23 out of the top 25 accounting firms.
Bowmark is
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