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Three Hills Capital Partners (THCP) has held the final close of its third fund, Three Hills Capital Solutions III (the Fund) at its hard cap of EUR540 million after exceeding the original target of EUR400m at the first closing in September.
Three Hills Capital Partners was advised by Rede Partners, an independent fundraising and secondaries adviser to the private equity industry.
THCP’s third fund has attracted over half of its support from new institutional investors across Europe, North America and Australasia with the remaining capital coming from the ongoing support of its strategic investor base of highly connected families
Starboard Value is making a USD200 million strategic investment in Papa John’s International, with the option to make an additional USD50 million investment through 29 March 2019.
In connection with the investment, the Papa John’s Board of Directors is expanding to include two new independent directors, including Jeffrey C Smith, Chief Executive Officer of Starboard, who has been appointed Chairman of the Papa John’s Board, and Anthony M Sanfilippo, former Chairman and Chief Executive Officer of Pinnacle Entertainment, Inc.
These directors bring substantial experience in the restaurant, retail and hospitality industries, with skill sets spanning operational turnarounds, corporate
The SidebySide Partnership, a London venture capital firm founded by technology veteran John Bailye, has launched a technology EIS fund to support ‘scale-up’ businesses.
The fund will not charge performance fees until investors have made their money back and an extra 60 per cent on top – a market-leading threshold. The SBS Later Stage EIS Fund will hold a maximum of just eight companies at any one time to enable the team to provide close support to management.
Bailye says: “Our name reflects our investment strategy – we’ll be working right alongside our investee companies. This is not a
Affiliates of Roark Capital, an Atlanta-based private equity firm focussed on investing in multi-unit businesses, have acquired a majority stake in Fitness Connection from LNK Partners.
Fitness Connection has over 500,000 members across its 41 health clubs in Texas, North Carolina, and Nevada. Terms of the transaction were not disclosed.
Founded in 1999, Fitness Connection is a category leader in the “High Value, Low Price” (HVLP) fitness segment, offering the full range of amenities and services of a large, full-service premium club for as low as USD10 per month. Memberships include access to state-of-the-art strength / cardio equipment, functional
Midlands-based CET UK has completed the acquisition of the business and assets of Enverity Ltd, a geotechnical and construction materials testing specialist, with the support of Palatine Private Equity.
The acquisition comes just three months after Palatine took a majority stake in CET in November 2018, with the intention of broadening its service capability and geographical reach through a buy-and-build strategy.
Enverity provides comprehensive testing services across the civil engineering, structural engineering and geotechnical markets. This includes primary and secondary aggregates, pavement investigations and construction materials.
Established in 1989, CET UK offers a range of specialist outsourced services
Merfish Pipe & Supply (Merfish), a master distributor of carbon steel standard pipe, fittings and flanges, and a portfolio company of One Equity Partners (OEP) is to merge with United Pipe & Supply under the ownership of Merfish Pipe Holdings (MPH), an entity that is majority-owned by OEP.
Financial terms of the private transaction have not been disclosed.
Headquartered in Ipswich, Massachusetts, United is also a master distributor of carbon steel standard pipe, which they complement with the master distribution of plastic pipe, copper tube and electrical conduit, serving the construction, electrical supply, fire protection, HVAC, mechanical and plumbing
Eldridge Industries (Eldridge) has increased its investment in Maranon Capital (Maranon) and now holds a majority ownership stake in the business.
In addition to the equity investment, affiliates of Eldridge have made further commitments to Maranon’s platform, which will support the firm’s ongoing strategic initiatives, including expanding the company’s underwriting and hold capability. Maranon’s updated Form ADV, reflecting Eldridge’s majority ownership position, has been filed with the US Securities and Exchange Commission (SEC).
“Since establishing our partnership with Eldridge in 2015, we’ve invested over USD3.7 billion in 150 transactions,” says Ian Larkin, Maranon co-founder and Managing Director. “The expanded
Levine Leichtman Capital Partners (LLCP), a Los Angeles-based private equity firm, has appointed Erik Nobel as a Managing Director, responsible for establishing and managing the firm’s newly opened office in Stockholm, Sweden.
Nobel will lead LLCP’s structured equity origination and investing efforts in the Nordic region.
Mike Weinberg, Partner and LLCP’s Head of European Investing, says: “We are very excited to welcome Erik to our team. His professional network and investing experience throughout Sweden, Norway, Denmark and Finland will be very valuable as we continue to expand our platform. I have no doubt that Erik will be a critical
Crowdcube, a UK equity crowdfunding platform, has formed an exclusive 12 month partnership with Linklaters to be its legal advisor for the ongoing service delivery to technology companies post-funding.
Fintech is Crowdcube’s biggest growth area, having raised GBP53 million in investment for fintech companies in 2017 and has worked with companies such as GoHenry, Money Dashboard, Monzo, Revolut, Chip, FreeTrade, Squirrel, WiseAlpha, Babb, Nebeus and Fourex. This partnership is central to Crowdcube’s strategy of establishing longer term relationships with clients through the ongoing service delivery beyond initial funding.
The agreement will allow Linklaters to support a select number of
Capzanine has announced the sale of its minority stake in Finance Active, a digital finance solutions provider, to Cathay Capital. The transaction also involves a major investment from Jacques Descourtieux and Patrice Chatard, the Founders, as well as a buy-in from new key managers.
Founded in 2000 in Paris, Finance Active and its 150 employees provide SaaS-based digital solutions to improve debt management and financial risks performances. The Company paves the way for greater digital transformation in finance through cutting-edge technologies and a strong emphasis on user-friendly processes. Its more than 10,000 users on 5 continents include businesses ranging from
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