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KL Outdoor-GSC, a New Water Capital portfolio company, has named Charles L “Chuck” Smith as its chief executive officer.
The company, believed to be the world’s largest manufacturer of paddle sports equipment, was created by the April 2017 merger of recreational products makers KL Outdoor and GSC/Future Beach.
New Water partner John Disa said Smith brings a rare combination of business and entrepreneurial experience that includes sales and market development, managing relationships with big-box retailers, and several years in the outdoor sports products industry. “Chuck has an impressive track record of increasing sales and expanding market share at several
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
Prestige Capital Management Limited (PCM), the AIFMD-licensed Malta arm of the Prestige group of companies, has expanded its Malta-based operation with the appointment of Dario Inclimona as junior portfolio manager to its growing team.
Inclimona will be working alongside Jonathan Scott (pictured), who joined PCM as Chief Operations Officer in November 2016, and will be looking after day to day fund investment portfolio operations.
This is part of PCM’s increasing role as the day to day operations and reporting centre for the range of Prestige Funds.
Inclimona has a career in financial services spanning eight years, having worked
Ares Management has appointed Peter Higgins as a Partner and Portfolio Manager in the Ares Credit Group.
Higgins will be based in London and will help lead the expansion of Ares’ European leverage finance product offerings alongside the existing European Credit team. Higgins was most recently with BlueBay Asset Management, where he was Partner and Senior Portfolio Manager for its Global Leveraged Finance group. After graduating with a BA from Columbia University, he developed his global leveraged finance capabilities with positions in London and New York at Deutsche Bank, Goldman Sachs, Credit Suisse First Boston and Prudential Securities.
“Peter
The Institutional Limited Partners Association (ILPA) has released guidance regarding the use of subscription lines of credit facilities by private equity general partners (GPs).
In the document, ILPA outlines the risks and potential impact on limited partners (LPs) resulting from inadequate visibility into exposure to these credit lines. In response, the organisation recommends that LPs seek greater disclosures from their fund managers around the use of subscription lines, as well as greater clarity in the partnership agreements around parameters for their use.
“Many limited partners understand how lines of credit can be beneficial to the cash flows of GPs
Kirkland & Ellis and Sidley Austin have advised Accuride Corporation, a US-based supplier of components to the commercial vehicle industry, on the acquisition of Mefro Wheels. The transaction is still subject to the approval of the antitrust authorities.
The addition of Mefro Wheels will strengthen Accuride’s position for future growth as a supplier of wheel end solutions to the global commercial vehicle industry. The combination will create a global supplier of commercial vehicle wheels and wheel end components for commercial vehicles with a total of around 5,000 employees at 15 manufacturing sites in North America, Europe, Russia and the Asia-Pacific
Kent-based Unity Media and its sister company, Unity Exhibitions, have been acquired by Mark Allen Group (MAG) for an undisclosed sum.
Unity Media publishes a number of market leading brands in the built environment. They include: Roofing, Cladding & Insulation (RCI), Glass & Glazing, Heating & Plumbing Monthly, Building Products and Your Build.
At the same time, Unity Exhibitions Ltd organises the successful annual RCI Show, to be next held in November at the Ricoh Arena in Coventry.
This is the second acquisition MAG has made this year and follows the purchase two months ago of the largest special educational
Monroe Capital has acted as sole lead arranger and administrative agent on the funding of a USD30 million asset-based facility for general corporate purposes and working capital for Arhaus.
Based in Boston Heights, Ohio, Arhaus, LLC is a home furnishings retailer offering slipcovered, leather and custom-order seating, dining tables and chairs, bedroom furniture, outdoor and office furniture, seasonal accessories and bedding.
The retailer currently operates 68 stores across the United States.
Realza Capital, a private equity group focused on the middle market segment, has sold its investment in GTT in a secondary buyout to a group formed by GED, Oquendo and the company’s management team.
Realza Capital had acquired GTT in November 2012 through its fund Realza Capital I. It made a cash on cash return of 3.2x and an IRR of 35.3 per cent on this investment.
Founded in February 1998, Gestión Tributaria Territorial provides expert advisory, consulting, collaboration in management, training services and development of IT systems in the area of tax management for local public entities. It
BioGeneration Ventures (BGV), a early stage life sciences venture capital firm, has secured investments from the European Investment Fund (EIF) and other new investors in BGV III, taking the fund’s total capital commitments to EUR66 million.
The Fund is supported by the “InnovFin – EU Finance for Innovators” initiative under Horizon 2020 and the European Fund for Strategic Investments.
The new fund will build on the track record of the first two BGV funds which yielded major successes including Dezima Pharma and Acerta Pharma. BGV was founding investor in both companies which were sold within three years at multi-billion
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