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Littlejohn & Co, a private investment firm based in Greenwich, Connecticut, has sold C&K Holdings, a provider of function-critical, highly engineered electromechanical switch and interface technology solutions, to Sun European Partners, an affiliate of Sun Capital Partners, Inc.
Financials have not been disclosed.
Founded in 1928, C&K is one of the world’s most trusted brands of high-quality electromechanical switches. The Company has developed a comprehensive product portfolio featuring 50,000+ unique products, serving over 20,000 customers across the Industrial, Automotive and Aerospace sectors, and blue-chip OEMs. C&K is headquartered in Newton, MA, with global design centres in Newton, Dole, France,
Perusa Partners Fund 2 has acquired a majority 51 per cent stake in MBN (MBN-PROLED) a specialist in the development, production and distribution of LED lighting.
Under the brand names PROLED and MBNLED, MBN-PROLED offers high-quality LED lighting, controllers and components worldwide. The partnership’s goal is to achieve a leading European position for the company through growth and acquisitions.
MBN-PROLED founder Bernd Menrad remains 49 per cent shareholder and continues to lead the company as sole managing director. Both parties have agreed not to disclose the purchase price and further details of the transaction.
Dr Christian Hollenberg, founding
Prosper, a marketplace lending platform for consumer loans, has secured a USD50 million investment from an investment fund co-managed by FinEX Asia.
The Series G investment, which brings Prosper’s total equity raised to USD410 million to date, will be used to make strategic investments in the company’s platform and products.
“This investment is a strong signal of confidence in our business fundamentals and the momentum we are seeing right now,” says David Kimball, CEO, Prosper Marketplace. “Over the past year, we’ve shown that we can build a sustainable business that continues to redefine the online lending experience for our
Private equity firm Providence Equity has complete an investment in DoubleVerify (DV), a provider of digital media measurement software and analytics.
As previously disclosed, digital marketing and advertising executive and former CEO of Starcom MediaVest Group Laura Desmond has been appointed Lead Director of the DoubleVerify Board of Directors. The DoubleVerify management team, under the direction of CEO and President Wayne Gattinella, will continue to lead the Company.
Since DV was founded in 2008 with the creation of the first brand safety solutions for online advertisers, 3rd party measurement has become a requirement for most brand advertisers. Today the
Funds managed by Inflexion Private Equity have agreed the buyout of Xtrac Ltd, a specialist in the design and manufacture of high performance transmissions for the motorsport and automotive industry.
Xtrac supplies most of the world’s top motorsport teams in both two and four-wheeled formulae across the globe, from MotoGP to Formula 1. The business enjoys strong EBITDA growth; over 80 per cent of the British manufacturer’s’ revenue is generated through exports, particularly for high performance automotive applications including hybrids and electric vehicles.
Inflexion is backing Xtrac’s well established management team, who will remain with the business. Inflexion’s investment
FinEX Asia’s private equity fund manager has closed an investment of USD50 million in Prosper Marketplace, a US online marketplace lending platform for consumer loans.
“FinEX Asia is excited to complete the Series G financing into Prosper, a leader in marketplace lending in the US,” said Maggie Ng, CEO of FinEX Asia. “Our team’s expertise is in fintech and consumer lending. Our investment strategy starts with the U.S. because of our strong network with online marketplace lenders. In parallel we are considering investment opportunities in other verticals globally.”
Founded earlier this year by Maggie Ng, a former Consumer Lending
China Renaissance Group has appointed Ke Wei as Partner of the New Economy Fund and member of the Investment Committee. Wei will report to Fan Bao, Chairman and CEO of China Renaissance Group.
Wei previously served as Managing Director at global private equity firm General Atlantic (GA), where he focused on investments in the TMT and consumer sectors. During his eight years at GA, Wei has led and participated in a number of significant deals and delivered solid returns for investors. Prior to GA, Wei was Investment Principal at another private equity firm, Actis. He also worked at Boston Consulting
CBFI Investment Limited (CBFI), a newly incorporated company indirectly owned by Canyon Bridge Fund I (Canyon Bridge) – a fund managed by US headquartered Canyon Bridge Capital Partners – is to acquire the entire ordinary share capital of Imagination Technologies Group (Imagination).
The price of 182 pence per share represents a premium of approximately 47.4 per cent. to the Imagination share price on 21 June 2017, the day immediately before the announcement by Imagination of the start of a formal sale process of 123.5 pence per share.
CBFI currently has no plans to make any changes to the continuing employment of employees and management, nor
Appleby Cayman has acted as Cayman Islands counsel to the Ad Hoc Group of Creditors on the financial restructuring of Ocean Rig UDW Inc and three of its subsidiaries by way of four inter-connected Cayman Schemes of Arrangement and Chapter 15 recognition.
The restructuring resulted in a net debt reduction of approximately USD 3.25 billion and involved the provision of a new USD 450 million credit facility. Creditors received ordinary shares, cash and new loan notes in consideration of the release of debt. In addition, potential claims against the group were transferred into a preserved claims trust to allow creditors
Private equity fund manager YFM Equity Partners (YFM) has invested in the GBP9 million transaction into 4net Technologies Ltd (4net) to support the continued growth of the business through new product and market development.
YFM’s investment is the fourth investment from its YFMEP 2016 Fund.
4net develops and provides contact centre and telephony solutions to UK enterprises and central and local government. It is one of a small number of Avaya top-level Diamond partners in the UK and has a range of other accreditations, and is the provider of the “Antenna” platform to a number of central government departments.
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