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European Buy & Build activity in 2016 reached its highest level on record with the largest number of deals in the UK & Ireland, according to Silverfleet Capital’s latest annual European Buy & Build Monitor.
The Buy & Build Monitor, which tracks global add-on activity undertaken by European headquartered companies backed by private equity, identified 5371 add-ons in 2016 compared to the 464 and 414 add-ons recorded in 2015 and 2014 respectively.
The average disclosed value of add-ons in 2016 was GBP73 million, up from an average of GBP42 million in 20153.
Historically, the volume of add-on deals
Legal & General is helping to finance a fleet of new Bombardier trains for the First MTR South Western Trains franchise.
The GBP100 million long term debt investment by LGIM Real Assets, on behalf of clients including Legal & General Retirement (LGR) is part of a total GBP1 billion commitment made from a group of institutional investors to Rock Rail.
This deal represents the largest single UK rolling stock deal for which all senior debt is provided by institutional investors. It is also Legal & General’s second UK rolling stock deal following the backing of a new fleet of
BlackRock is to acquire Cachematrix, a provider of financial technology which simplifies the cash management process for banks and their corporate clients in an open-architecture platform.
Cachematrix supports approximately USD200 billion in client assets through relationships with many of the world’s largest banks and asset managers.
Cachematrix enables financial institutions to provide corporate clients with a portal for allocating cash to a variety of money market funds and direct cash instruments. Corporate clients are also able to seamlessly analyse, perform compliance checks and generate detailed reports for their cash investments on the Cachematrix platform.
BlackRock is one of
Beenext, a global venture capital-focused fund has spun out from the Gordian Capital platform.
Since 2005, Singapore-based Gordian has provided a regulated, physical and operational infrastructure for institutional quality teams seeking to launch private equity, venture capital, real estate, private credit and hedge funds.
“Although we have many years of venture capital investment experience, we had limited experience in establishing a fund, tax matters and structuring as well as the operational and regulatory aspects of operating a fund. Gordian Capital was very helpful and handled all those activities allowing us to focus on investing and working with our investee
View, a specialist in dynamic glass, has completed a financing round of over USD200 million, including a USD70 million investment from funds and accounts managed by BlackRock.
“We are delighted to be supported by BlackRock, who recognizes View’s potential to transform the real estate industry,” says View CEO Rao Mulpuri. “View is now installed across 20 million square feet of buildings and continues to experience tremendous growth across commercial offices, healthcare, education, multi-family residential, and airports. This investment enables us to scale our operations to meet rapidly growing demand.”
View enables building owners to improve people’s comfort and productivity
CVC Capital Partners’ (CVC) CVC Fund VI has agreed to acquire Pasubio, a specialist provider of premium leather for the automotive industry, from the Pretto family.
The family will retain a minority shareholding in the company and Luca and Alberto Pretto will continue in their current management roles with the existing management team.
Pasubio is a leading leather solution provider for the interiors of the premium and luxury segment of the automotive industry. The company’s activities include raw hides selection, tanning, finishing and crafting. Pasubio’s sales are predominantly generated by premium automotive original equipment manufacturers. Its clients include Jaguar
The French private equity market has produced an average annual return of 10.1 per cent over the last 30 years, according to a new report published by the Association Française des Investisseurs pour la Croissance (AFIC) and EY.
The net performance of closed-end funds meanwhile totalled 14.7 per cent per year.
“With an annual return of more than 10 per cent over 30 years, the French private equity sector’s overall performance has remunerated the savings allocated to the financing of start-ups, small- and medium-sized businesses (PME) and intermediate-sized businesses (ETI). This stable performance reflects the vitality of these companies funded
Pharos Capital Group, a physician-founded healthcare private equity firm based in Dallas and Nashville, has promoted Anna Kovalkova to Partner, effective immediately. Kovalkova is based in the firm’s Nashville office and was most recently a Principal.
Concurrently, the firm promoted three Senior Financial Analysts to Associates. They are Lauren Gurley and Kevin Ryan, based in Nashville, and Jim Kerrigan in Dallas.
Kovalkova is responsible for leading the evaluation, due diligence and execution of investments as well as for overseeing portfolio companies. She currently serves on the boards of Back Yard Burgers, Beacon Specialized Living Services, Sona Dermatology & Medspa,
Denver-based private equity firm Platte River Equity has acquired a majority interest in MFG Chemical with owner and founder, Charles E Gavin, III, maintaining a minority equity interest in the company.
Headquartered in Dalton, Georgia, MFG is a specialty chemical manufacturer of polymers, surfactants and esters used in various applications in the oil field, water treatment, mining, coatings and agricultural markets.
“For almost 40 years, MFG has leveraged its differentiated position in maleic anhydride and glacial acrylic acid to develop and manufacture new products in partnership with our customers to better serve their needs,” says Gavin.
“We remain
TPG Growth, a middle market and growth equity platform of global alternative asset firm TPG, is to acquire Discovery Midstream (Discovery), a Dallas-based provider of oil and natural gas gathering and natural gas processing services in the southern portion of Colorado’s Denver-Julesburg Basin.
Discovery’s current management team will continue to run the company post-transaction and is investing alongside TPG Growth in this transaction. Additional terms of the transaction were not disclosed.
Discovery’s assets are strategically located in Weld and Adams counties. The company is currently constructing more than 120 miles of pipeline and a 60 Mmcf/d natural gas processing
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