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Benhamou Global Ventures (BGV), an early-stage venture capital firm with deep Silicon Valley roots and an exclusive focus on the digital transformation of the enterprise with a cross-border innovation theme, has held the first close of the BGV Opportunity Fund with over USD40 million of capital committed to date.
Investors in this fourth fund include both existing limited partners as well as several new international and institutional LPs.
The BGV Opportunity Fund will focus on capturing the full pro rata in winning portfolio companies from BGV II and BGV III as they mature and raise late stage equity rounds.
Private equity firm Auxo Investment Partners has acquired Midway Rotary Die Solutions, adding deeper capabilities to its manufacturing platform – Bernal Rotary Dies, Atlas Die, and Atlas Chem-Milling.
Terms of the deal have not been disclosed.
Joining Auxo’s portfolio of industry-leading die manufacturers allows Midway Rotary Die Solutions to continue to grow, serve a wider array of customers and offer its existing customers new capabilities in wide format RP® rotary dies and flexible rotary dies, while preserving its legacy of best-in-class customer service and unrivalled solutions to customers’ converting challenges. Midway designs, manufactures and sharpens dies for customers in
An affiliate of middle market private equity firm Peak Rock Capital (Peak Rock) has sold Precision Global (Precision) to an affiliate of ONCAP, the middle-market private equity platform of Onex Corporation.
Founded in 1949 by the inventor of the aerosol valve, Precision is one of the world’s leading producers of valves, actuators and related dispensing solutions. The Company operates a global network of facilities spanning fifteen countries on six continents, serving a diverse customer base comprised of many of the world’s largest multinational consumer packaged goods companies across personal care, household, food & beverage, industrial, and pharmaceutical end markets. Precision
KPS Capital Partners (KPS) has signed a definitive agreement, through an affiliate, to sell the attachments division of International Equipment Solutions (IES), consisting of IES’ Paladin, Genesis and Pengo business units, to Stanley Black & Decker for USD690 million.
KPS will retain ownership of the cabs division of IES, consisting of IES’ Crenlo, Emcor and Siac do Brasil brands (collectively, “IES Cabs”).
IES Attachments is a major independent manufacturer of attachment tools for off-highway applications. During KPS’ ownership, IES Attachments acquired and integrated CWS Industries (July 2012) and Kodiak (March 2015), and launched Paladin do Brasil (July 2013).
UK Technology investment specialists TECHNEDs has appointed Iain McKenzie as a partner. McKenzie joins founder and principal Simon Mewett and lead associates Archie Maddocks and Ed Crane as the business becomes an LLP.
“Having experience and success in corporate finance and managing significant growth for Enghouse Interactive to a USD100 million business, Iain brings a diverse experience to TECHNEDs’ market-leading, technology investment practice,” says Simon Mewett, Managing Partner at TECHNEDs. “We are excited to welcome Iain as a partner to TECHNEDs family as we enter an exciting phase as we become an LLP.”
McKenzie specialises in the M&A of
When the Trump administration ushered in the Tax Cuts and Jobs Act (the Tax Act) on 22 December 2017, US federal corporate tax rates were slashed from 35 per cent to 21 per cent. It was the biggest cut in three decades and as far as private equity managers are concerned, the news was greeted with open arms.
“The corporate tax rate reduction was a big change,” says E George Teixeira (pictured), Tax Partner, Financial Services Tax Practice Leader and Co-Chair of the Private Equity Practice, Anchin. “Given that a lot of the PE investments that family offices and private
Alter Domus, a provider of third-party middle office, fund and corporate services to alternative investment managers and lenders globally, has appointed Spencer Wells to lead its UK office in London.
Wells (pictured), will be responsible for driving the performance and growth of the UK business together with expanding new and existing client relationships in the region.
In addition to Spencer’s appointment the UK Management team has been further strengthened by the recruitment of Matthew Molton as Head of Operations UK. Molton has more than 13 years of experience in the financial sector. Prior to joining Alter Domus, Matthew was
DataOnline, a provider of Industrial Internet of Things (IIoT) solutions, has completed the acquisition of Independent Technologies. Along with DataOnline’s recent acquisition of Germany-based Wikon GmbH, the combined business will serve more than 1,000 customers in 75-plus countries across Europe, Asia, and the Americas.
Independent Technologies, founded in 1985, is a diversified provider of hardware, software, and services to the telecommunications, oil & gas, and power industries. Its brands include Enertrac, Wintel, and Sheyenne Dakota. The largest division, Wesroc, is the leading provider of IIoT solutions to the North American propane market, offering cellular, satellite, and LoRa technology.
“We
BlueMountain Capital Management (BlueMountain), a private diversified alternative asset management firm, has appointed Scott Troeller as a Portfolio Manager to source, evaluate, and execute infrastructure-related private investments, with an initial focus on energy, environmental, and telecommunications infrastructure in North America.
In the newly-created position, Troeller will report to Andrew Feldstein, Co-Founder and Chief Investment Officer.
While BlueMountain has previously made significant private infrastructure investments, such as in Aligned Energy, a leading data centre provider that recently received a strategic investment from Macquarie Infrastructure Partners, Troeller will be BlueMountain’s first senior investment professional to focus exclusively upon infrastructure.
“One of
I Squared Capital (ISQ), through its ISQ Global Infrastructure Fund II, has finalised the acquisition of TIP Trailer Services, a pan-European and Canadian trailer leasing and services company, from HNA Group (International) Company Limited.
All regulatory approvals required have been obtained, closing conditions have been met and the sale has been successfully completed per 1 August 2018.
Bob Fast, CEO of TIP Trailer services, says: “TIP’s Senior Leadership team and I are very excited to be undertaking this next phase in our company’s future and we remain convinced of the benefits that it will bring to our customers, our
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