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Noerr has advised a banking consortium on the financing of the German subsidiary of the French Recylex Group.
The banks are providing the German subsidiary of the listed French recycling group with EUR67 million.
The financing package includes a EUR40 million investment in a new reduction furnace in the lead segment. The new reduction furnace is to recover internally the lead and silver contained in certain by-products from the smelter. Recylex expects to create around 30 new jobs at the Weser-Metall subsidiary and to increase the Recylex Group’s annual lead production by approximately 30,000 tonnes. The other funds provided
Francisco Partners has sold Source Photonics to a private equity consortium led by Redview Capital and Asia-IO, with participation from investors including TR Capital, Axiom Asia and Aberdeen Asset Management.
Source Photonics is a provider of communications and data connectivity components and modules in next-generation data centres, mobile and fixed-line networks.
Source Photonics was originally acquired by Francisco Partners in October 2010 as a carve-out from MRV Communications. Following the acquisition, Francisco Partners recruited CEO Doug Wright to join the company in May 2013.
“It has been a pleasure to work with Doug and the talented management team
Goodwin has advised Spice Private Equity (Bermuda), a subsidiary of the Swiss investment company Spice Private Equity Ltd, on a USD31.1 million sale of assets.
Seven assets were sold including all primary fund investments, simplifying cash management for Spice and creating further capacity for new direct investments.
The portfolio comprised five primary fund investments (Navis Asia VII, Northstar IV, Baring Asia VI, Carlyle Sub Saharan Africa Fund and Helios III) and two co-investments (Altico Capital and Rede D’Or).
During the holding of the portfolio, a gain of 6 per cent was generated.
The Goodwin team in London was
Noerr has advised Landesbank Baden-Württemberg (LBBW) and Siemens Bank on financing the purchase of automotive supplier Dieter Braun by Deutsche Beteiligungs AG (DBAG).
The DBAG Fund VI, advised by DBAG, has acquired the majority of the shares in Dieter Braun by way of a buyout.
The seller is the private equity firm Seafort Advisors. Besides DBAG, the management will also hold shares in Dieter Braun in future.
The Dieter Braun Group specialises in cable assembly and lighting technology particularly for the automotive industry, with a workforce of some 1,500 and sites in Germany, the Czech Republic, Mexico, China
Veritable and Moelis Asset Management have teamed up to launch Archean Capital Partners, which will provide new private equity portfolio managers with the initial capital, advice and infrastructure necessary to launch their own funds.
Veritable is a wealth management firm with over USD13 billion of assets under management.
Moelis AM is the parent company for alternative asset management firms with an aggregate of over USD3billion in assets under management.
Through Archean Capital Partners, Veritable and Moelis AM will seek capital commitments for a series of single manager, special purpose vehicles (SPVs) that will invest in selected newly launched
Beechbrook Capital has completed its first three investments from its most recent fund, Private Debt III.
The fund’s first transaction was to provide growth financing in support of H2 Equity Partners’ investment in Multi Pilot Simulations, a designer and manufacturer of flight simulation training devices based in Groenekan in the Netherlands.
The second transaction was for D&D London, the luxury restaurant, bar and hotel group based principally in London and whose restaurants include Quaglinos and Coq d’Argent. Beechbrook provided a mezzanine loan to part-refinance LDC’s and the management’s shareholder loans.
The third investment was a mezzanine loan to
ACA Compliance Group, a provider of compliance, cybersecurity, performance and technology solutions to financial services firms, has acquired Telavance.
Founded in 2010 by Salvatore Cangialosi (pictured), Gokul Kallambunathil, Rama Pappu and Mahesh Viswanathan, Telavance provides anti-money laundering (AML) risk reviews and related regulatory compliance services and software solutions.
It offers leadership and expertise in the areas of risk assessment and mitigation, remediation of regulatory actions, model risk management, fraud rules assessments, NYS DFS 504 compliance, AML software system enhancements and optimisations, and transaction reviews and “look-backs.” Telavance’s client base is primarily centred in the banking industry.
As a
Ylan Steiner, head of the London venture capital team at King & Wood Mallesons, has joined Orrick as a partner in its technology companies group, resident in the London office.
This addition follows the arrival of Christoph Brenner, head of KWM’s German corporate practice, who joined the firm as a partner in Orrick’s Munich office earlier this month.
“Ylan is deeply respected in the London technology, venture capital and growth equity community. Having worked across the table from him for more than 15 years, I hold him in the highest regard and am thrilled that he is joining our team,”
GenNx360 Capital Partners, a New York-based private equity firm investing in middle market industrial manufacturing and business services companies, has appointed Daphne Dufresne as a managing partner.
Dufresne will be actively engaged in all aspects of GenNx360's investment activities and portfolio management, and will be a voting member of the firm's investment committee.
Prior to joining GenNx360, Dufresne was a founding partner and managing director of RLJ Equity Partners where she was responsible for sourcing, executing and monitoring investments, management of the firm, fundraising, chaired a number of the firm's portfolio company boards, and was a member of
PNC Riverarch Capital has sold its portfolio company Goldco to Seven Hospitality, a consortium of high-net-worth investors.
Terms of the transaction have not been disclosed.
Goldco is an operator of 46 Burger King restaurants in Southeast Florida, primarily in the Fort Lauderdale and Treasure Coast regions. Since its founding in 1980 with a single restaurant, Goldco has grown its footprint through new store development and acquisitions.
Investment professionals at PNC Riverarch Capital led the investment in Goldco in late 2012. Under the ownership of PNC Riverarch Capital, Goldco significantly expanded its footprint in Southeast Florida, implemented a sophisticated
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