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CVC Capital Partners’ (CVC) CVC Fund VII is to acquire TMF Group (TMF), a leading provider of specialist business services to clients operating and investing globally, from DH Private Equity Partners.
The transaction is subject to customary regulatory and anti-trust approvals.
TMF provides locally-delivered outsourced business and compliance services (including corporate secretarial, tax & accounting, legal & administration and HR & payroll) to approximately 15,000 multi-national corporates, investment funds and high-net worth individuals globally. With a network of offices across over 80 countries, and headquartered in Amsterdam, TMF Group has the in-country expertise and knowledge to help businesses of
IP Solutions, a specialist communications technology provider, has secured investment from leading mid-market private equity firm LDC to accelerate its growth strategy.
The firm, which works with well-known names such as National Geographic, Oak Furniture Land and Secret Escapes, will also have access to significant additional capital from LDC to fund a series of acquisitions in the UK to help it build scale, consolidating its position in the circa GBP500 million market for unified communications.
Headquartered in London, IP Solutions provides a wide range of cloud communications solutions for over 200 small and mid-sized businesses under a single unified service. Its solutions
Middle market private equity firm HGGC has completed the acquisition of ServiceTick by Davies Group Ltd, an insurance and claims service provider.
ServiceTick marks the fourth add-on acquisition for the Davies Group platform since HGGC acquired the business in January 2017.
Norwich, UK-based ServiceTick, which provides digital customer experience insight and intelligence to its clients through voice and digital surveys, follows the acquisition and integration of specialist regulatory services business, Cynergie UK Ltd in April, specialist casualty claims third party administrator Claims Management Services Limited (CMSL) in August, and specialist insurance and professional services provider Ambant in September.
Private equity house WestBridge Capital has exited Vista Retail Support, following its acquisition by LDC for GBP29.4million.
The deal represents the third time the company has been acquired by private equity buyers, with WestBridge having bought the business from Finance Wales in May 2014 for GBP12.3million. Vista, which generated sales of GBP17million in its last financial year, is a market leading UK field engineering specialist providing time sensitive IT support and maintenance services to the retail, hospitality and leisure sectors.
In the last three years, WestBridge has supported the executive team in successfully growing the business further and revenues
GCA Altium has acted as financial and nominated adviser on the IPO of Footasylum plc, a UK-based fashion retailer focusing on the branded footwear and apparel markets.
The IPO valued the business at GBP171.3 million raising GBP65.4 million for Footasylum and existing shareholders, with the first day of dealings taking place on 2 November 2017. The IPO will provide the business with the funding and platform to continue its expansion and investment in its new store openings and online retail activities.
Footasylum was founded in 2005 by David Makin, an established retail operator who was one of the two
HarbourVest Partners, a global private markets asset manager, has appointed Simon Jennings as a Managing Director. Based in London, Jennings will focus on business development with distribution partners in Europe and Asia to help their private wealth clients achieve their private markets objectives.
“Over the last three decades, and especially more recently, HarbourVest has worked closely with market intermediaries globally to help meet the private markets investment needs of their family office, private bank, wealth management and institutional clients,” says Peter Wilson, Managing Director and member of the Executive Management Committee, HarbourVest. “Simon understands the needs of this market segment
Henkel has signed an agreement to acquire Zotos International Inc, the North American Hair Professional business of Shiseido Company, Limited for USD485 million. The acquisition comprises leading hair professional brands such as Joico and Zotos Professional.
In fiscal 2016, Zotos International Inc. reported sales of about USD230 million and employed around 700 people. Based in Darien, Connecticut, the company is mainly focused on the US market, where it operates a manufacturing site as well as a R&D facility. The business is also present in Europe and Asia.
“This acquisition is part of our strategy to expand our position in
Noerr has advised the four partners of the digital consulting company etventure on the takeover by Ernst & Young (EY). Berlin-based partner Hans Radau and senior associate Armin Bartsch acted as lead advisors in the transaction.
etventure specialises in digital consultancy and company building. The company has more than 250 digital experts who identify, develop and test digital business approaches across all industries. The company’s clients include Deutsche Bahn, Daimler Financial Services, Franz Haniel & Cie and Klöckner & Co SE. The business, which was formed in Berlin in 2010, will remain an independent company which is part of the
Litigation finance specialist Pravati Capital has launched Pravati Credit Fund III, LP to capitalise on opportunities in the burgeoning litigation finance sector.
Litigation finance is the area where participants involved in some sort of legal action either require or desire funding to bridge the gap until settlement proceeds are released. Fund III will continue to capitalise on the success of Pravati’s first two funds and 16 years of specialised experience in litigation finance with a proven methodology of stringent due diligence in selecting and structuring investments.
The strategy aims to build an all-weather fund of differentiated return streams uncorrelated
Glennmont Partners has successfully completed the refinancing of SER for EUR190m, one of Italy’s largest operating wind portfolios, with 245 MW of installed capacity.
The transaction is Italy’s first bond ever in the wind sector and is part of Glennmont’s ongoing activities to realise additional value from its operational assets. It follows last month’s successful refinancing of Glennmont’s Sleaford biomass plant in the UK for GBP150 million.
The SER portfolio is made up of 231 wind turbines across Sicily and Puglia, all of which entered into operation between 2009 and 2012. The portfolio was acquired in June 2016. The
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