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KPS Capital Partners (KPS) has signed a definitive agreement, through an affiliate, to sell Electrical Components International (ECI) to an affiliate of Cerberus Capital Management. Financial terms of the transaction have not been disclosed.
ECI is the world’s leading manufacturer of wire harnesses, control boxes and value-added assembly services for consumer appliance and specialty-industrial applications. ECI manufactures products for a variety of electronic and electromechanical applications for customers worldwide in a diverse range of end-markets, including home appliances, agriculture and construction, heating, ventilation and air conditioning (HVAC), specialty transportation, automotive, commercial appliance and commercial electronics. ECI currently operates 35 manufacturing
Omnes has made a partial exit from the French telecoms construction group Circet, through a sale to Advent International.
Omnes initially invested in Circet in February 2017 and continues to support the number one French firm specialising in the construction and maintenance of telecommunications infrastructure.
Omnes generated an IRR of 103 per cent in the deal, which marked the second successful exit for Omnes Croissance 4 fund this year. In February 2017, the Capcom exit generated a multiple of 2.6 times and an IRR of 95 per cent.
Circet was founded in 1993 and reported revenues in excess
Pacific Global Asset Management has selected Virtus Partners (Virtus), a global provider of alternative investment operations outsourcing and administration services, to provide full middle office and fund administration services to their newly launched CLO investment fund, managed by Pacific Asset Management.
Virtus Fund Services offers a custom suite of middle office and fund administration services exclusively for credit managers and has offices in New York, London, Houston, Austin, Dublin and Luxembourg with over USD140 billion in assets under administration.
“Pacific Global Asset Management is committed to leveraging state of the art technology to enhance our controls and efficiencies,” says
A combination of strong financial markets, industry consolidation and net fund inflows has helped bolster total management fees for Europe’s asset managers in the second half of last year, according to a new report from Moody’s Investors Service.
The report, ‘Asset Management – Europe Fee revenue up on M&A, markets, and fund inflows’, finds that total management fees across the surveyed group rose 12.7 per cent in H2 2017 compared with end-June 2017. Excluding M&A transactions, Moody’s estimates that overall fee revenue increased by 6 per cent.
“About half of the increase in fees we recorded was due to the
The Montreux Healthcare Fund’s Operating Company (Fund), Active Assistance (Active), has secured a GBP95 million debt package from BlackRock, one of the largest institutions in the financial sector.
The transaction augments Active’s ability to finance its pipeline acquisitions for the foreseeable future, which it will seek to purchase with a mixture of equity and debt.
The terms of the Senior Facility Agreement, which will allow the replacement of an existing bridging facility, are preferential to those secured on the Fund’s previous asset pool during its last cycle in which it achieved more than a 110 per cent return over
International private equity firm, Cinven, is to acquire Partner in Pet Food (PPF), a European pet food manufacturer, from Pamplona Capital Management for an undisclosed amount.
Headquartered in Hungary, PPF has nine manufacturing operations across Europe. PPF supplies pet food to more than 250 customers in Europe, including traditional retailers, discounters, speciality pet retailers and online specialists. Its product range covers the main categories of dog and cat food including wet and dry food including single serve products. Established in 1999, the company employs more than 1,400 people and produces more than 450,000 tons of pet food per annum, distributed
Alven, an independent venture investment firm based in France, has selected Ipreo’s iLEVEL platform for the monitoring and management of its fast-growing portfolio.
iLEVEL has become widely-accepted as the platform of choice for private market investors globally, enhancing portfolio data integrity, streamlining operations, and elevating performance across the entire investment lifecycle. Several hundred GPs and LPs worldwide, across all private asset classes, now rely on iLEVEL for data collection, portfolio monitoring, reporting and analytics, investor reporting, valuation and audit, and fundraising.
“With a proven track record of investments, we’re growing quickly, and we want to make sure that we
Law firm Akerman has added experienced corporate partner Ted Rosen to its M&A and Private Equity Practice in New York.
Involved in complex transactions for more than three decades, Rosen joins the Corporate Practice Group from Fox Rothschild, where he served as administrative partner for the New York Corporate and Public Companies Practices and as co-chair of the Private Equity Practice Group. Rosen advances Akerman’s longstanding capabilities dedicated to mergers and acquisitions, private equity funds, international transactions and venture capital transactions.
“Ted is highly regarded for his consummate ability to meet client objectives in complex transactions and he adds
BGF has exited its minority investment in Brownhills Glass, an independent UK’s glass merchant and processor.
BGF invested GBP2.9 million in the Walsall-headquartered company in 2015 to support the acquisition of Durham-based Peterlee Glass, helping extend its presence into the North East. The funding has also supported investment in a new manufacturing site for Peterlee, expanding its capacity. Brownhills will now continue its growth strategy with new investment from Duke Royalty, a provider of alternative capital solutions.
Brownhills Investments serves trade customers, architects, interior designers, construction professionals and private home owners throughout the UK. Its products and services range
Crocus Technology, a supplier of disruptive Tunnel Magneto-Resistance (TMR) sensors, has secured USD35 million in funding through a combination of debt and equity from internal investors and external sources.
The funding will enable Crocus Technology to accelerate its revenue growth by expanding its operations and go-to-market resources and by investing in the continuous development of innovative products to serve the demand of existing and emerging markets.
Crocus’ proprietary MLU(TM) technology enables its TMR sensor products to have high magnetic sensitivity with minimal variation over a wide temperature range, coupled with ultra-low power consumption, which makes them ideal sensing solutions
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