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The volume of European restructurings is expected to hit its next peak in 2017, according to a survey by Debtwire in conjunction with independent investment bank Greenhill and law firm Orrick.
The study, for Debtwire Europe’s 13th European Distressed Debt Market Outlook, canvassed the opinion of 130 European hedge fund managers, distressed debt investors and private equity professionals and provides insight into their expectations for the European distressed debt market in 2017 and beyond.
“2016 proved to be another challenging year for the restructuring community, mostly as a result of a continued slim pipeline of workouts and distressed opportunities,”
The Virtual Technology Cluster Group (VTC Group), which connects small innovative companies with blue chip organisations, is raising capital to support the high growth businesses within its network.
By working with SMEs, the VTC Group is a key asset in helping them expand as it gains a deep insight into the models, IP, management and commercial opportunities of these companies.
The VTC Group is raising capital through Funderbeam in Estonia, the world's first primary and secondary marketplace for early-stage investments secured by blockchain. This capital raise, the first step in a long-term partnership with Funderbeam, will allow the VTC Group
Private equity firm CenterOak Partners has completed a majority investment in Aakash Chemicals and Dye-Stuffs.
Based in Glendale Heights, Illinois, Aakash Chemicals is a value-added supplier of colorants, additives and other specialty chemicals.
Terms of the transaction were not disclosed. Aakash Shah, who will retain significant equity interest in the company, will remain in his current role as chief executive officer.
Aakash Chemicals was founded in 1978 and has developed a strong position within the North American specialty chemical distribution industry. The company supplies a diverse base of customers with a variety of specialty items, focusing on technical
Andrew Tually, counsel at international offshore law firm Carey Olsen, has joined the firm's Singapore office as a result of increasing demand for its corporate and finance legal services and rapid growth in Asia.
This follows the firm's launch in Singapore in October 2015 – with a focus on finance and corporate transactions including capital markets, mergers & acquisitions and alternative investment funds – and the opening of a Hong Kong office in November 2016.
Ben Morgan, partner in Carey Olsen's Guernsey office, says: “We’ve experienced strong growth in Asia in recent months. With offices in Singapore and Hong
Dominik Tobschall has joined venture capital firm Target Partners as an associate.
The 34-year-old software developer and lawyer supports the team in handling all tasks related to start-up investments, from deal flow to the investment process right through to portfolio management.
Prior to joining Target Partners Tobschall worked on digitalization projects and took care of technology investments and acquisitions with a member of the executive board at C.H.BECK, one of the major names in the German publishing industry. Previously Tobschall founded fruux GmbH in 2010, a venture capital funded software company.
"I am thrilled to join Target Partners,
A management group led by Joseph M Limber, in partnership with Ampersand Capital Partners and 1315 Capital, has entered into a definitive agreement to acquire the commercial laboratory of Genoptix.
Genoptix is a Novartis company that specialises in oncology diagnostics and informatics services.
The transaction is expected to close in the first quarter of 2017 subject to certain closing conditions. The financial terms of the transaction have not been disclosed.
Headquartered in Carlsbad, California, Genoptix is one of the largest haematopathology centres in the US, providing thousands of oncologists and pathologists across the UStates with comprehensive testing solutions
Steve Beck has been named a general partner at early stage venture capital firm Serra Ventures.
After working informally with the Serra team for several years, Beck joined Serra Ventures as a venture partner in January 2016.
Now named a general partner, he will focus on developing Serra Capital’s reach and influence in selected West Coast geographies.
Beck is an entrepreneur and technology investor with over 25 years of experience both launching and guiding start-up companies. He has participated in two IPOs, Baidu and Lifelock, and he has transacted five public and five private company sales.
Tim
Noerr has advised Novelis, a specialist in rolled aluminium products owned by India’s Hindalco Industries, on the refinancing of its USD1.8 billion term loan B line still existing after its acquisition by Hindalco.
The refinancing and restructuring transaction was handled by an international banking consortium under the lead of the British Standard Chartered Bank, for the first time with the involvement of numerous Asian, particularly Indian, banks.
The term of the refinancing transaction is five and a half years.
The Novelis Group was advised on German law by Noerr’s lawyers Sebastian Bock (partner) and Dr Ivan Zlatanov on
Lovell Minnick Partners, a private equity firm specialising in financial and related business services companies, has made a growth capital investment in Currency Capital, an online equipment financing exchange serving owners of small- and medium-sized companies.
The investment will support Currency Capital’s growth strategies. Financial terms of the private transaction have not been disclosed.
Headquartered in Los Angeles, Currency Capital will continue to be led by CEO Charles Anderson and his executive team who will retain a significant equity interest in the company.
Currency Capital’s online portal enables business owners to receive competitively priced loans for equipment purchases.
Catella has acted as exclusive financial adviser to Guy Hands in raising financing for the acquisition of McDonald’s Nordic operations.
The parties have signed a share sale and purchase agreement and agreed on the master franchise agreement.
Hands will become the development licensee (DL) for the Nordic markets.
The Nordic countries consist of approximately 435 restaurants, of which more than 95 per cent are franchised, and is the clear number one QSR (Quick Service Restaurant) operator in the region. Financial terms of the transaction are not being disclosed.
Under the DL structure, McDonald’s plans to transfer
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