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Mid Europa Partners, a private equity firm focused on Central and South Eastern Europe, has completed the acquisition of Romanian supermarket chain Profi Rom Food.
Profi is a modern retail network with the widest geographical spread in Romania, having a strong presence in almost 250 cities, smaller towns and villages. Profi operates two store formats in urban areas, Standard and City, and recently developed Loco, a successful format for rural parts of the country. Profi is one of the top employers in Romania, with nearly 11,000 employees.
The transaction execution was led by Andrej Babache with the support of Ratko
Goldman Sachs has agreed to invest USD95 million in MDC Partners through the purchase of non-voting convertible preference shares (the Preference Shares).
In connection with the closing of the transaction, Bradley J Gross, a managing director in the Merchant Banking Division of Goldman Sachs, will join the MDC Partners Board of Directors, which will expand to seven members. Subject to the satisfaction of certain conditions, the transaction is expected to close in the first quarter of 2017.
Scott L Kauffman, Chairman and Chief Executive Officer of MDC Partners, says: "We are extremely pleased to be partnering with Goldman Sachs.
Global investment bank GCA achieved record revenues of GBP148 million and EBIT of GBP27 million in 2016, successfully completing 133 deals over the course of the year.
This is GCA’s first set of results since its July 2016 merger with Altium.
Recent high profile deals included advising JayZ on the investment by Stream in Tidal, the sale of Urban Engines to Google and the acquisition of Pretty Little Thing by GBP1.5bn listed company boohoo.com.
GCA Altium, GCA’s European business, which is headquartered in Manchester and has seven offices across Europe, completed a total of 66 transactions, including two of the largest software buyouts
Cairngorm Capital Partners is making a further investment in Polyframe Group Limited (Polyframe), a UK manufacturer of trade windows and doors, to facilitate Polyframe’s acquisition and merger with Customade Group Limited (Customade).
The enlarged group, with revenues in excess of GBP100 million, will trade as Customade and now has a comprehensive product range across aluminium windows, composite entry doors and PVCu products. It operates nationwide, with almost 900 employees across 10 manufacturing facilities extending from Scotland to the South-West.
Established in 1980, Customade is a specialist manufacturer of high-quality aluminium and PVCu windows, doors and conservatory roof products. Known for
APS Holding (APS) has acquired a portfolio of Croatian non-performing loans (NPL) with a nominal value significantly exceeding EUR100 million. The firm’s newly established office in Croatia is expected to have more than 40 employees in the first half of the year.
The acquisition includes secured and unsecured non-performing corporate loans, with the secured positions held against mostly residential, commercial and industrial property. The portfolio has been acquired from Hrvatska Poštanska Banka with the approval of the Croatian National Bank.
Martin Machoň, CEO of APS, says: “Our target is to assist banks with distressed debts and help debtors to be
Last year proved to be a challenging year for the private equity (PE) industry as market instability and political uncertainty took hold worldwide. But 2017 has ushered in a more optimistic outlook, according to BDO’s Eighth Annual PErspective Private Equity Study.
When the initial survey of 200 fund managers across North America and Western Europe was conducted in October 2016, more than half (56 per cent) of fund managers characterised the investment environment as favourable, while 44 per cent said it was unfavourable—the highest proportion since 2014. In a follow-up poll conducted in early January, however, the number of fund
One of the persistent pain points for alternative fund managers is finding a way to streamline the investor onboarding process by automating the subscription document process. To date, this has remained a notoriously inefficient and error-prone set of processes, stymieing the ability for managers – both hedge funds and PERE funds – to bring investor capital into funds and put that capital to work in a timely fashion.
Focus on the front office
A recent survey by MergerMarket and Pepper Hamilton (Going the Distance: The Expanding Lifecycles of Private Equity Funds) finds that the entire lifecycle of PE
Sixpoint Partners (Sixpoint), a global investment bank serving the middle market, has appointed Michael Leonardo as Vice President, West Coast Distribution.
In addition, the company has promoted three long-standing members in the New York office, deepening its distribution and origination capabilities. Leonardo’s appointment and the promotions are effective immediately.
Leonardo joins from Ironwood Capital Management where he was an Associate Vice President, responsible for developing and maintaining the firm’s distribution and platform relationships. Previously, he worked at BlackRock where he advised institutional clients on customised portfolios and SMAs through the US Wealth Advisory and Global Client Group. He will
Blue Bay Travel, the award-winning online travel agent specialising in long-haul holidays to the Caribbean, Mexico and Indian Ocean, has secured a GBP6.5million investment from mid-market private equity firm LDC.
Founded in 2003 by Stuart and Angela Wilson, Blue Bay Travel provides holidays to more than 16,500 passengers per year – with a 31 per cent increase in bookings in 2016.
The business operates under several specialist brands – including Caribbean Warehouse, specialising in destinations such as Mexico, Dominican Republic, Barbados and Saint Lucia – and Tropical Warehouse, focusing on the Indian Ocean and Far East. Since 2003 the
Kerogen Capital (Kerogen) has committed to invest an initial USUSD50 million in Energean Israel, a subsidiary of Energean Oil & Gas, ahead of the planned USD1.3 billion development of the Karish and Tanin gas fields, offshore Israel.
Energean Israel is the operator of and holds a 100% interest in each of the Karish and Tanin licences, acquired from Delek Group in December 2016, for an upfront consideration of USD40million as well as USD108.5million in contingent payments. Proceeds from Kerogen’s investment in Energean Israel will finance the acquisition and key workstreams to investment sanction including FEED studies and the Field Development
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