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Maven Capital Partners (Maven) has been appointed to manage two separate fund entities as part of the Midlands Engine Investment Fund (MEIF) initiative, with GBP50 million in the West Midlands and GBP40 million in the East & South East Midlands.
Maven has a long established record of working with advisers and SMEs across the Midlands, and has made a number of significant investments in recent years. In addition to the existing team operating out of Birmingham, Maven’s regional presence will be further strengthened with the opening of an East Midlands office during the next few weeks, and Maven is currently
By Alison Swonnell, Director of Fund Operations, LCM Partners Limited – Non-performing loans are getting attention from the highest of places. Search for the term and you will find a deluge of publications about NPLs from the ECB, ESMA and EBA as well as pretty much every management consultant and accounting firm. Open the financial press and almost every day there is an announcement of an asset manager, such as LCM Partners, buying portfolios of bank loans, many of which represent eye-watering figures of outstandings, hundreds of individual companies or many thousands of consumers. A decade on from the start of
For non-US fund managers wishing to tap into the US retirement marketplace, setting up a Collective Investment Trust (CIT) could be an attractive proposition, given the growth of defined contribution (DC) assets. Thanks to their ease of set-up, speed to market, and share class flexibility, CITs are enjoying a renaissance period.
As outlined in a recent white paper by SEI – The Defined Contribution Market Meets Its Match – DC assets have grown from USD4.3 billion just over a decade ago (2006) to USD7 trillion through the end of 2016. They account for 28 per cent of the USD25 trillion
BDC Capital, the investment arm of BDC, has completed a USD10 million minority equity investment in Rx Drug Mart (RxDM), alongside Persistence Capital Partners (PCP) and RxDM’s other existing shareholders.
The investment was made in support of RxDM’s growth strategy and in part enables the company to continue to look at acquisition opportunities.
“We are excited to support RxDM’s platform as they execute on their growth strategy to expand across the country,” says Claude Miron, Vice President, Growth Equity with BDC Capital. “The investment showcases BDC’s commitment to help Canadian businesses with high-growth potential scale to the next level.”
Private equity firm Blackford Capital has exited its ownership of Westlake Village, California-based personal injury lien funding company Key Health.
Key Health is the national leader in providing personal injury lien funding and acts as a liaison between medical providers and personal injury victims’ attorneys to ensure access to necessary medical care.
Blackford Capital, which specialises in professionalising founder and family-owned businesses in the middle-market, successfully accomplished a two-prong strategy during its investment in Key Health. First, Blackford put in place the financial infrastructure, KPIs, and incentives necessary for growth. Second, Blackford successfully supported and provided accountability for the
Blue Point Capital Partners, in partnership with management, has acquired its eighth Blue Point III platform investment, SASE Company, a manufacturer and supplier of equipment and consumables used in the concrete polishing industry.
SASE provides a comprehensive portfolio of high-quality products including grinding machines, vacuums, diamond tooling, abrasives and related products. The Company, with locations in Rockford, Tennessee, and Kent, Washington, is well-positioned for continued growth due to its industry-leading reputation for technology, quality and superior customer service.
“The acquisition of SASE represents an excellent opportunity to partner with a local company with a strong management team, and acquire
Middle-market private equity firm Calera Capital has completed the sale of United Site Services (USS) to Platinum Equity. Terms of the transaction have not been disclosed.
Calera Capital acquired a majority interest in United Site Services in August 2014.
United Site Services, based in Westborough, Massachusetts, is a leading provider of portable restrooms, temporary fence and related site services. The company serves customers throughout the United States through a network of more than 80 locations and the largest fleet of portable sanitation equipment in the country.
“We were very fortunate to have the opportunity to work together with
Century Park Capital Partners and Akoya Capital Partners have completed the sale of ICM Silicones Group (ICM) to the CHT Group (CHT), a specialty chemicals conglomerate headquartered in Germany.
ICM is a leading independent formulator and manufacturer of specialty silicone materials offering one of the market’s broadest portfolios of customised silicone products. ICM’s product catalog includes over 800 proprietary formulations spanning emulsions, elastomers, antifoams, gels and gums. The Company serves over 2,000 customers across the automotive, cosmetics, electronics, food processing, industrial, personal care and thermal management end markets. ICM is headquartered in Michigan and has additional manufacturing operations across the
Private equity fund administrator Gen II Fund Services has opened a new office in Boston, Massachusetts. In addition, the company has appointed Shaun Buckley, who will be based in Boston, as Managing Director.
Buckley comes to Gen II from State Street, where he had broad responsibility for private equity fund administration and reporting across an institutional client base.
The Boston office, located at 125 High Street in the city’s financial district, joins New York and San Francisco as the third client service centre for the Firm and reinforces Gen II’s commitment to unparalleled client service, delivered by the most
Solar Spectrum, a portfolio company of Hercules Capital, has merged with Horizon Solar Power, a designer and installer of residential and commercial solar systems in Southern California.
“We are very pleased to see Solar Spectrum’s management team, along with its new lead investor Northern Pacific Group, take quick, decisive, action since emerging from bankruptcy,” says Manuel Henriquez chairman and CEO of Hercules Capital. “The combination of the two companies will create one of the nation’s largest residential solar providers. In addition, Horizon Solar Power, led by its distinguished CEO Frank Kneller, has achieved an outstanding record of accomplishments and has
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