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Monroe Capital has acted as sole lead arranger and administrative agent on the funding of a senior term loan to support the acquisition of The Worth Collection by private equity sponsor New Water Capital.
Based in New York, Worth is a direct-to-consumer luxury and contemporary women’s apparel business.
The company designs and sells two distinct brands, Worth New York and W by Worth, through a multi-channel distribution model consisting of appointments at a Worth representative’s, or “stylist’s” home, exclusive company-owned showrooms, and various travel trunk shows throughout the country and online.
Plans for business growth among SMEs are holding firm despite the economic and political uncertainty that has unfolded over the last year, according to Hitachi Capital’s quarterly British Business Barometer.
The last 12 months have felt like a roller coaster ride for many firms in the UK. The pound hit the lowest it has been in 30 years and there is understandable uncertainty around the political situation.
However, SMEs are showing resilience and their plans on how to grow their company have stayed the same.
Hitachi Capital Business Finance asked 1,123 of the UK’s SMEs what one thing
Equistone-backed Mecaplast Group, a supplier of plastic components for the automotive industry, has entered into an agreement to purchase Key Plastics Corporation, a manufacturer of automotive interior, exterior and under-the-bonnet plastic components.
Through the transaction, Mecaplast Group will expand its presence in key markets such as the US, Germany and China, and diversify its customer portfolio.
The combined Mecaplast and Key Plastics groups will service all major global automotive manufacturers from facilities in virtually every major international market, offering its customer base a broad portfolio of product capabilities.
Closing of the transaction is subject to approvals by competition
Arma Partners has acted as exclusive financial adviser to Five Arrows Principal Investments on its investment in White Clarke Group, a provider of end-to-end automotive and asset finance technology solutions.
Founded in 1992 and headquartered in Milton Keynes, UK, White Clarke Group delivers its mission-critical "CALMS" software and consulting services to more than 100 auto finance, asset finance and lending organisations across 30 countries.
Employing over 400 people, White Clarke Group has experienced strong new win momentum over the last several years, with global roll out across Europe, North America and Asia.
Five Arrows Principal Investments will seek
JZ Capital Partners (JZCP), a London listed fund that invests in US and European micro-cap companies and US real estate, has realised two of its investments, Southern Petroleum Laboratories (SPL) and Metpar, for a combined USD11.5 million.
JZCP received proceeds of USD8.4 million from the sale of SPL, a provider of oil and gas measurement and laboratory services, which is approximately the company’s carrying value.
JZCP also received warrants for approximately USD0.5 million on day one value in the new buyer as well as a dividend of USD1.3 million from SPL in July 2015.
JZCP received proceeds of
Fintech start-up iwoca has completed a GBP21.4 million Series C round led by Prime Ventures with existing investors Acton Capital Partners and CommerzVentures.
iwoca has also secured a GBP25 million debt facility through Shawbrook which will help the provider of flexible credit facilities to SMEs to further accelerate its loan book growth.
Talis Capital was an early backer of iwoca through its seed round in 2012 and has supported the two founders, Christoph Rieche and James Dear.
“It has been a pleasure to work with iwoca as one of its earliest board directors and it has validated our approach of
Graycliff Partners, an independent investment firm focusing on middle market private equity and mezzanine investments, has provided subordinated debt and equity financing to Dedoes Industries, a manufacturer of equipment for the automotive refinish market.
Graycliff’s investment supported the acquisition of the business by Ashland Capital Partners, a Chicago based private investment firm.
Headquartered in Walled Lake, MI and founded in 1941, Dedoes’ products are used by auto refinish shops to mix, shake, proportion, formulate, cure and store both water and solvent based paint.
“Dedoes represents an attractive investment opportunity given its leading position within its market niche, combined
EQT’s first US-dedicated fund, EQT Mid Market US, closed on 30 September with commitments of USD726 million.
The EQT Mid Market US fund applies a growth buyout investment strategy which involves developing and transforming good companies into stronger, more sustainable businesses.
The fund will make control and co-control investments in high-quality companies operating in sectors with strong underlying growth trends.
The fund will also leverage EQT’s network of over 250 industrial advisers and apply the firm's governance model and alignment principles to help support portfolio company growth.
Two acquisitions have already been made in the US by
Investment and advisory business Edition Capital has launched First Edition EIS, an investment fund that aims to provide growth support for businesses in the media and entertainment sectors.
The fund, which is targeting an initial raise of up to GBP20 million, will focus on the live entertainment, television, venues and immersive media sectors.
Edition Capital partner Harry Heartfield says: “We’re extremely excited to be launching ‘First Edition EIS’ and we’re very much looking forward to identifying the next big things in the media and entertainment sectors. The Edition Capital team is highly experienced in developing emerging brands and helping them
The Channel Islands Securities Exchange (CISE) has revised its membership rules so that firms from a wider range of jurisdictions can act as sponsors to listings on the exchange.
The membership rules previously restricted sponsors to being entities established in the Channel Islands. Now they have been updated to allow sponsors to be based in any jurisdiction deemed acceptable to the exchange.
The change is effective from 10 October 2016 and reflects the rules which are already in place for members who trade on the exchange.
Fiona Le Poidevin (pictured), CEO of the CISE, says: “This is a
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