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David Birne, insolvency partner at HW Fisher & Company, comments on the collapse of Carillion…
For a company Carillion’s size, it is extremely rare to opt for a liquidation rather than an administration – and a compulsory liquidation at that.
It suggests there is little, if anything, of value within the company to be saved. Almost every big insolvency in recent years has been a move towards administration rather than liquidation.
For Carillion’s 43,000 global staff, liquidation means the immediate risk of redundancy.
For Carillion it will mean huge breach of contract penalties that could dwarf anything demanded of it
Arma Partners is pleased to announce that it has acted as exclusive financial advisor to CHRONEXT in securing a USD34 million growth financing round. Investors in the round include Endeit Capital and Tengelmann Ventures, as well as existing investors Octopus Ventures, Partech Ventures and Capnamic.
CHRONEXT operates an online marketplace that enables brands, retailers and consumers to buy, sell and service new and pre-owned luxury watches in a secure, authenticated environment with customers in over 130 countries worldwide.
CHRONEXT has offices and physical outlets in Zug (Switzerland), Cologne (Germany) and London (United Kingdom) and its platform supports the full
Investment funds managed by Alinda Capital Partners, along with company management, have acquired 100 per cent ownership of Kelling Group Limited (Kelling) from Elysian Capital. Terms of the transaction were not released.
Kelling is a UK company which owns and leases specialty equipment supporting the maintenance and upgrade of rail, road, telecommunications, street lighting, electric transmission, and other critical infrastructure. The company is headquartered in West Yorkshire, with assets on-hire throughout Great Britain. Kelling does business through two subsidiary divisions, Access Hire Nationwide (AHN), and Welfare Hire Nationwide (WHN). AHN is the largest provider of vehicle-mounted access platforms (VMAPs) for hire
Barings, a leading global financial services firm with over USD300 billion in assets under management, announced that the five member investment team from Aldea Capital Partners has joined Barings Alternative Investments (BAI) group.
The Aldea team, a provider of customised private equity solutions, has integrated with BAI’s Funds & Co-Investments (FCI) platform, a team consisting of 25 investment professionals across North America, Europe and Asia Pacific.
Mina Pacheco Nazemi and Patrick O’Hara, the co-founders of Aldea, will be located in Charlotte, NC and Nazemi will assume a position on FCI’s leadership team and Investment Committee.
“As investor demand
capital D, a newly-formed pan-European private equity manager investing in mid-market companies which disrupt legacy business models, has acquired a majority stake in Invincible Brands.
Founded in November 2015, Invincible Brands has accomplished exceptional growth. The company sells its products from Germany into continental European markets, employs 80 staff and serves a customer base of 500,000 millennials.
Invincible Brands is a pioneer in social media influencer-led marketing to millennials who are now the largest addressable consumer group in the world. It creates natural health, beauty and fitness products from the ground up, using proprietary product development methods and a marketing platform
Private equity fund manager Enfoca has completed a General Partner-led secondary transaction whereby a new investment fund managed by Enfoca purchased exposure to the portfolio companies of three Enfoca-managed funds by providing a liquidity option to the existing Limited Partners (LPs).
The new fund also obtained commitments for new capital to develop the portfolio.
Canada Pension Plan Investment Board (CPPIB), which made a capital commitment of USD380 million, and Goldman Sachs Asset Management LP’s Vintage Funds (GSAM) led the transaction. The three largest Peruvian pension funds, Integra, Prima and Profuturo, which have invested with Enfoca since 2007, are also
Technology company Gas Tag has secured a multi-million pound investment from private equity house Waterland. The deal, which values Gas Tag at well in excess of GBP20 million, will enable the business to continue to scale up rapidly both within the UK and internationally.
In return for the investment, Waterland will gain a minority stake and two of its senior team will join the board of the Liverpool-headquartered company.
Waterland Private Equity has been established in Europe since 1999 but only launched its UK office in early 2017. It recently moved into larger offices in Wilmslow to house its
Inflexion Private Equity has completed the buyout of Alston Elliot, a provider of premium data-driven graphics solutions for live sports broadcasts.
Alston Elliot was founded in 1992, initially to provide computerised graphics to the BBC for its coverage of test cricket and World Snooker events. Today the business employs more than 100 people across its offices in London, Johannesburg, New Delhi and Melbourne with clients including Sky, BT, ESPN, Fox, Star, SuperSport and the BBC.
The business is led by CEO Nick Baily, who has 27 years’ experience in the TV sports broadcast industry.
Inflexion has also announced
InMotion Ventures, Jaguar Land Rover’s venture capital arm, today announces the appointment of Lars Klawitter as Executive Director Strategic Business.
Klawitter joins the business this month, and he will lead the development of proprietary mobility services and their integration into Jaguar Land Rover products and services. He will also oversee strategic partnerships and alignment on government affairs and act as an internal consultant.
Sebastian Peck, Managing Director, InMotion Ventures, says: “I am delighted to welcome Lars to the InMotion team. He joins us at an exciting time as we build on the investment success of 2017 and look to increase the
Private equity house Key Capital Partners (KCP), which has offices in Leeds and London, is celebrating a record-breaking year, having completed four deals worth a total of GBP28 million in 2017, the latest in a string of investments it has made in growing SMEs nationwide.
A leading investor in the underserved smaller buy-out market, KCP specialises in working with profitable medium sized businesses with potential for growth. Typically, the firm makes investments of between GBP3m to GBP15m and has highly experienced partners who are able to advise the management teams of its portfolio businesses, helping them to realise their expansion ambitions.
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