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Global investment firm KKR and Altavair AirFinance, a specialist in commercial aviation finance, are to form a long-term partnership to pursue the creation of a leading, global portfolio of leased commercial aircraft.
KKR will make a USD1 billion capital commitment primarily from its credit and infrastructure funds, which may be supplemented with additional commitments over time, to acquire commercial aircraft in partnership with Altavair over the next several years and Altavair will be KKR’s partner for aircraft leasing investments going forward. KKR will also acquire a 50 per cent interest in Altavair as part of the long-term partnership.
KKR’s initial
Private investment firm Gridiron Capital has completed the sale of Quality Solutions, Inc (QSI), an asset light facilities management provider, to Cushman & Wakefield (NYSE: CWK), a global real estate services firm.
The acquisition of QSI will expand Cushman & Wakefield’s facility management capabilities and coverage across North American markets.
Headquartered in Wichita, QSI offers facilities maintenance and managed services in over 75 trades to 110,000+ locations across various end markets, through over 50,000 qualified vendors. The Company’s integrated, one-stop solution reduces a client’s total cost of ownership and enables clients to strategic plan effectively. Gridiron Capital originally invested in QSI
Mid-market private equity firm Bowmark Capital, has held the closing of its new fund, Bowmark Capital Partners VI, having reached its target of GBP600 million in just 10 weeks.
The fund is 60 per cent larger than Bowmark’s previous GBP375 million fund, with 94 per cent of the capital committed by investors in its prior funds.
The significant investor demand, and the speed with which the fund was raised, belied the concerns raised in some quarters that institutional investment in the UK would be impacted negatively by Brexit uncertainties.
Bowmark Capital Partners VI was supported by 23 institutional
US technology company Workhorse Group has closed a USD35 million financing with Marathon Asset Management.
The proceeds will be used for current working capital, parts acquisitions to fulfil existing and future customer purchase orders and contracts as well as to satisfy full repayment of the senior secured notes incurred in July 2018.
The facility has a three-year term secured by a first priority lien on all assets. Funds will be provided in two separate tranches, the first of which is a USD10 million lump sum amount that will be used principally to satisfy repayment of the July 2018 senior secured notes. The remaining USD25 million will function as a
Turnspire Capital Partners (Turnspire), a special situations-focused private equity firm, has created a new company, Crane Carrier Holdings, to acquire the specialty vehicle group of Hines Corporation, which designs, manufactures and sells heavy-duty truck chassis, complete vehicles and aftermarket parts for specialty markets.
Headquartered in New Philadelphia, Ohio, Crane Carrier produces specialty trucks under three brands: the namesake Crane Carrier Company (truck chassis), Crane Carrier Company Engineered Chassis and CyKlone® Mixers with Kimble Technology.
Turnspire Managing Partner Ilya Koffman says: “We are thrilled to acquire Crane Carrier, which is an ideal fit with our operationally focused investment strategy. The
Seward & Kissel has promoted Robert Gayda and Hoyoon Nam to partner. The firm has also promoted Daniel Bresler, Kimberly Giampietro, Andrei Sirabionian, Lori Sullivan, and Michael Weitman to counsel. The promotions were effective on 1 January, 2019.
“This year’s promoted class is made up of a dynamic and enthusiastic group of lawyers in a wide range of practice areas, including bankruptcy, corporate finance, investment management, trusts & estates, and litigation,” says Seward & Kissel Managing Partner Jim Cofer. “We are proud of the unwavering commitment this group has shown to enhancing the offerings of our firm and providing exemplary support
Crestline Direct Lending, a part of the opportunistic investment group of Crestline Investors (Crestline), has closed a Senior Secured Credit Facility to support Schweiger Dermatology Group’s (SDG) expansion.
SDG is a portfolio company of LNK Partners, LLR Partners and SV Health Investors. Crestline served as administrative agent and joint lead arranger on the facility.
Since 2010, SDG has continued to grow both organically and through acquisitions and has built a multi-site platform of more than 45 locations with strong regional density, scale, and brand awareness. Additionally, the Company has made significant, advanced investments across its organisation in order to support
BGF has invested GBP6 million in TIG, a managed service provider which supports mid-market companies transitioning to the cloud.
The investment is being used to support the business’s organic growth and acquisition strategy, beginning today with the acquisition of netConsult, a specialist company providing IT transformational services and cyber security for the alternative investment sector.
TIG’s goal is to be the best cloud transformation provider for medium-sized businesses. The Watford-based group has achieved significant organic growth under the leadership of CEO Des Lekerman and COO George Georgiou. Both were part of the Eurodata management team, a company founded and
Sidley Austin has appointed John H Butler as a partner and member of the firm’s global M&A and Private Equity practice, in New York.
Butler, who joins from Davis Polk & Wardwell, counsels clients on high-profile mergers and acquisitions, private equity transactions, restructurings and general corporate representations. He represents corporate, private equity and hedge fund investors on complex transactions and has extensive experience advising financial institutions in connection with advisory assignments.
“John’s proven dedication to client service and ability to lead on major deals makes him a perfect addition as we continue to build out our M&A and Private Equity practice
Dechert has advised Central and Easter Europe-focused private equity firmMid Europa Partners (Mid Europa), a leading private equity investor in Central and Eastern Europe, on the financing relating to the acquisition of Urgent Cargus from Abris Capital Partners.
Urgent Cargus is a leading courier, express and parcel service provider in Romania, offering delivery to over 85,000 customers, including business clients, e-commerce retailers and private individuals. The company operates a dense network of 5 hubs and 71 stations connected by 360 linehaul routes, which enable the company to offer services such as 24-hour delivery across the country.
Kerim Turkmen, Partner
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