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Independent Growth Finance (IGF), a commercial finance provider for SMEs, has delivered a GBP1.95 million combined invoice finance and asset based lending line for Pearl Automotive, a supplier to the automotive aftermarket.
The funding delivered by IGF will help to consolidate and grow Pearl Automotive’s existing business, and allow the firm to invest in new machinery to make the processes more efficient within its Essex headquarters.
Pearl Automotive has over 40 years’ expertise in supplying the automotive aftermarket with more than 7,500 lines, including fitted and workshop consumables, servicing and display stands. The firm supplies customers throughout the global
The number of Jersey-registered fund managers marketing into Europe through national private placement regimes (NPPRs) under the Alternative Investment Fund Managers Directive (AIFMD) continued to rise during 2016, according to the latest figures from the Jersey Financial Services Commission (JFSC).
As at December 2016, 127 alternative investment fund managers (AIFMs) had been authorised in Jersey to market into Europe through NPPRs, up more than one fifth (22 per cent) compared to December 2015.
Over the same period, the total number of Jersey alternative investment funds (AIFs) being marketed into Europe through NPPRs also increased significantly to stand at 254,
TVS Rico Supply Chain Services has acquired a majority stake in SPC International from Beringea, adding repair and parts supply to the company’s end to end supply chain services.
Beringea will retain a 5 per cent stake in SPC International, an Uxbridge UK based company which has grown significantly since its establishment in 1989 and has annual turnover of GBP20 million.
SPC International has operations in UK, France, Slovakia, USA and India. It offers hardware support with specialisation in IT spares and repairs, supporting multi-vendor maintenance contracts. SPC’s services and solutions include repair and refurbishment, remarketing, reselling, warranty management and
Kings Bromley Nursing Home in Burton-On-Trent, Staffordshire, has been acquired by RD Capital Partners (RDCP Care Limited) in a leveraged buyout deal supported by a seven figure funding package structured by Allied Irish Bank (GB).
The 55-bedroom facility has been purchased from its previous owners Embrace Care Group and will become RDCP Care’s flagship nursing home.
Kings Bromley Nursing Home provides specialist residential, nursing, palliative, dementia and physical disability care for older people. Offering expert care and support to people with a wide range of conditions such as Parkinson’s disease, stroke, heart and chest related problems, reduced mobility and
Quad-C Management, a middle market private equity firm, has held the final close and activation of its latest fund, Quad-C Partners IX.
Fund IX was oversubscribed and had a single closing at its hard cap of USD1.1 billion of limited partner commitments, exceeding its target of USD800 million.
Fundraising commenced in mid-July and was wrapped up by early January.
Similar to Quad-C’s prior funds, Fund IX will invest in middle market companies in partnership with owners and managers ranging in size from USD75 million to USD400 million.
Of the 13 deals in Fund VIII, eight were companies
Investcorp, a provider and manager of alternative investment products, has completed its acquisition and integration of the debt management business of 3i (3iDM) from 3i Group plc.
The business, now renamed Investcorp Credit Management (ICM), adds USD11 billion of assets under management, bringing the total to approximately USD21.4 billion.
Investcorp Credit Management is a credit investment platform managing funds which invest primarily in senior secured corporate debt issued by mid and large-cap corporates in Western Europe and the US. The business has a strong track record of consistent performance and growth, employing approximately 50 people in London, New York
Alternative investment specialist LGT Capital Partners is to acquire European Capital Fund Management, a London- and Paris-based private debt manager, from companies controlled by Ares Management.
Subject to regulatory approvals, the transaction is expected to close in the second quarter of 2017. The purchase price has not been disclosed.
In partnering up with European Capital, LGT Capital Partners will strengthen its investment competency in private markets. The transaction encompasses all private debt funds managed by European Capital and a team of more than 20 specialists.
“We are pleased to attain such an experienced team that has built a strong
Corporate advisory firm Clearwater International has appointed David Weavers as a partner based in its Manchester office.
Weavers arrives at Clearwater with over 15 years’ experience in M&A having previously worked for Rothschild and Deloitte.
The appointment follows Clearwater International’s strongest year yet, having completed a record breaking 106 deals worth over EUR9 billion in 2016 – a deal value increase of over 120 per cent from 2015; average deal values also nearly doubled during the period.
Michael Reeves, CEO, Clearwater International, says: "We’re thrilled to be welcoming a new partner to the business and to be further strengthening
Needham & Company has added key research, sales and sales trading professionals in healthcare services research; Boston equity sales; corporate access origination and client strategy; event-driven, special situations and merger arbitrage sales; and sales trading.
Kevin Caliendo, managing director, recently joined the firm. He brings 20 years of Wall Street experience, primarily on the buy-side, analysing and investing in the healthcare industry. Caliendo spent the past two years at Deimos Asset Management as a portfolio manager. Prior to that, Caliendo was a healthcare portfolio manager at SAC Capital, FrontPoint Partners, and Clearbridge Advisors.
Patrick “Pat” Malloy, managing director, has
ClearLight Partners has sold Consumer Safety Technology (CST or Intoxalock) to Welsh, Carson, Anderson & Stowe for an undisclosed figure.
Headquartered in Des Moines, Iowa, Intoxalock provides ignition interlock devices and accompanying driver monitoring services.
Ignition interlock devices are used primarily in DUI drivers’ vehicles to prevent the vehicle from starting when the driver has consumed alcohol.
Intoxalock serves a mission of making the roads in the US safer, preventing drivers from driving drunk, and helping people with substance abuse problems get their lives back on track.
ClearLight invested in Intoxalock in 2012 and supported strong growth
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