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International law firm Ropes & Gray has advised US private equity firm TSG Consumer Partners on its acquisition of a 22.3 per cent stake – worth GBP213 million – in Scottish craft beer company BrewDog.
The deal – which values the company at GBP1 billion – will facilitate further growth of the business, with GBP100 million in proceeds going into the business for continued expansion over the next 10 years. The balance of the investment will create early shareholder liquidity.
The Ropes & Gray team was led by private equity partners Kiran Sharma (London) and Chris Comeau (Boston), assisted by
Nearly nine out of 10 (88 per cent) business leaders believe that the UK needs a comprehensive industrial strategy, according to BGF’s Growth Climate Index.
However, the survey of over 280 business leaders and entrepreneurs found more than three quarters (77 per cent) want the government’s proposed industrial strategy to direct targeted support towards emerging businesses and sectors (e.g. clean energy, robotics and biotechnology) compared to just 11 per cent who believe that the government should prioritise support for established business and sectors.
The findings point to considerable support for the principles behind the government’s industrial strategy. Nearly nine
The private acute medical care market in central London grew to an estimated value of GBP1.43 billion during 2015, according to LaingBuisson.
This is equivalent to around 35 per cent of the national market for private patient revenues in independent hospitals and private patient units (PPUs) in the UK.
While this represents overall growth of more than 4 per cent compared to 2014 and an improvement on the 2.6 per cent growth seen in 2014, this is still down on the 10-year average growth of 7.8 per cent. The impact of this has been greater on the independent sector
SEI has welcomed three new participants to Codify, the company’s new Regulation Technology (RegTech) incubator. Codify is the first London-based incubator designed solely for financial regulation technology developers.
The incubator provides participants with crucial business resources and development opportunities, including office space in SEI’s UK headquarters for a minimum of four months, providing access to SEI’s extensive in-house resources and exposing them to a number of financial services sectors.
Mentoring from both SEI employees and third-party experts across various disciplines is also part of the package. External mentors include Jason Boud of the RegTech Forum, executives from leading RegTech start-ups, and
Inverness Graham, a private investment firm focused on high growth, innovative manufacturing, technology and services companies, has promoted Aliya Khaydarova to principal.
"Over the past nine years, Aliya has played a key role across all aspects of the deal spectrum – from due diligence through successful exits at AdvancedCath, RacoWireless, and Danville," says Ken Graham, founder and senior managing principal at Inverness Graham. "We're proud to recognise Aliya's drive, knowledge and significant accomplishments with this well-deserved promotion. She has been instrumental to Inverness Graham's success to date and we look forward to even greater contributions in her new role going forward."
Since joining
The most popular M&A deal project name in 2016 was Project Blue, according to Intralinks, a provider of virtual data rooms for M&A transactions.
Intralinks analysed almost 5,000 transactions in 2016 – all of which used an Intralinks Virtual Data Room – revealing that Project Blue, Project Diamond and Project Falcon were the top three most popular choices of code name.
Compared to 2015, the highest climbers in the league table were Project X, climbing from number 38 to number seven, and Project Sapphire, up from number 153 to number nine. Five of the top 10 in 2016 also
iCapital Network, a financial technology platform focused on democratising access to alternative investments for high-net-worth investors and their financial advisers, has appointed Thomas Fortin as managing partner and chief operating officer (COO).
Fortin (pictured) will report to iCapital Network’s chief executive officer, Lawrence Calcano, and be responsible for technology development and the investor services group.
Fortin joins iCapital from BlackRock, where he was head of retail technology in the BlackRock Solutions group and responsible for the strategy, design, and development of retail sales enablement and digital distribution solutions. He also drove the acquisition of FutureAdvisor.
“We are delighted
The venture capital trust (VCT) sector raised GBP542 million in the 2016/17 tax year, the second highest amount raised on record and an 18 per cent increase on last year’s figure of GBP458 million, according to the Association of Investment Companies (AIC).
This is the highest amount raised since 2004/5 (GBP779 million) when income tax relief was increased from 20 per cent to 40 per cent.
VCT assets under management to 5 April 2017 (GBP3.9 billion) are also up on last year’s GBP3.6 billion.
Ian Sayers (pictured), chief executive of the AIC, says: “These figures are a testament
PNC Bank has closed a USD100 million senior secured revolving credit for Apache Industrial Services, a portfolio company of Quantum Capital.
PNC Capital Markets led the syndication as sole lead arranger, and PNC Bank is serving as administrative agent.
Based in Houston, Texas, Apache Industrial Services provides a suite of services including scaffolding, coatings and linings, refractory, fireproofing and insulation to critical infrastructure. Apache serves the petrochemical, agricultural chemical, refinery, power generation, offshore energy and general industrial markets.
Apache will use the funds, in part, for its acquisition by Quantum, to refinance existing credit facilities, and to provide
The Riverside Company has sold a non-voting minority stake to Parkwood to accelerate continuing growth.
Parkwood is a limited partner in multiple Riverside funds.
“Parkwood has a deep understanding of Riverside including our strategy, market leadership and culture,” says Riverside co-CEO Stewart Kohl. “This is a natural extension of our mutually beneficial relationship. I’ve long admired Parkwood chairman and CEO Morton Mandel as a mentor and role model, so we’re especially happy to have them as a partner in growth.”
Parkwood’s acquisition of just under 10 per cent of the firm will be all primary capital, with the
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