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Plexus Capital, a provider of capital to small businesses in the US, has closed Plexus Fund IV at its fully subscribed offering of USD400 million.
Consistent with its predecessor funds, Fund IV will focus on the same strategy of investing in profitable businesses with USD10 million to USD100 million in revenue to support growth, recapitalisations and transitions of ownership.
With the closing of Fund IV, Plexus has raised more than USD950 million since inception in 2005, including capital accessed through SBA’s Small Business Investment Company programme. In addition to SBA capital and significant investments from the Plexus team, investors
Smartrac, a portfolio company of private equity firm One Equity Partners (OEP), is to sell its Secure ID & Transactions business to the Linxens Group.
The transaction is subject to regulatory approval and other customary closing conditions.
OEP has helped support Smartrac to grow into the largest global player in its industry. Smartrac produces over 2.2 billion RFID transponders annually and offers one of the most comprehensive technology portfolios with more than 1,000 patents and patent applications. Over the past five years, Smartrac’s revenues have almost doubled.
The sale of the Secure ID & Transaction Business is the
C5 Capital, a technology investment firm focusing on the cyber security, data and cloud computing sectors, has acquired ITC Secure Networking for GBP24 million.
The acquisition marks the fund’s fourth investment following its investments in Metrasens, a UK based sensor company; Omada, a provider of identity and access management technology; and Balabit, a software company focusing on real-time user behaviour analytics for the identification of internal and external attackers.
ITC was established in 1995 by CEO Tom Millar and is headquartered in Docklands London. It provides organisations with assured IT and specialises in providing its NetSure360 managed infrastructure and security
A group led by the AlixPartners’ founder Jay Alix and three global investors has agreed to acquire ownership stakes in the business from CVC Capital Partners.
The transaction values AlixPartners at more than USD2.5 billion.
The new ownership structure will include Caisse de dépôt et placement du Québec (CDPQ), Public Sector Pension Investment Board (PSP Investments) and Investcorp Group, together with founder and current shareholder Alix.
AlixPartners’ managing directors will continue to hold a significant stake in the firm and have access to a new equity system.
Founded in 1981, AlixPartners works with clients to help them
By Fiona Le Poidevin (pictured), CEO, Channel Islands Securities Exchange (CISE) – International developments such as the EU’s Alternative Investment Fund Managers Directive (AIFMD) and the OECD’s Base Erosion and Profit Shifting (BEPS) initiative are placing increased focus on the substance of investment structures.
Asset management groups are still dealing with the implications and in doing so, they should consider how they can demonstrate additional substance by listing on the Channel Islands Securities Exchange (CISE).
We offer a fully regulated marketplace from our offices in Guernsey and Jersey, which are within the European time zone but outside of the EU. Today,
Fund governance firm DMS Governance has expanded its US business with the appointment of William H Woolverton, former senior managing director and general counsel at Gottex Fund Management, in its New York office.
Woolverton (pictured), who will serve as managing director – US and head of US legal, has experience working on fund governance and administration issues with a particular emphasis on managing legal and compliance issues for a wide variety of public and private investment funds.
He has also worked with boards of directors and CEOs of investment management firms on governance best practices and day to day corporate
First Names Group has promoted Andrew De La Haye to deputy managing director of its Jersey trust business, effective immediately.
De La Haye previously worked as client services director at the group for two years.
He joined the business following the acquisition of Seymour Trust in 2014 where he held the position of managing director.
De La Haye says: “First Names Group has achieved phenomenal growth over the past few years and I am really looking forward to supporting Ben with the day-to-day management of the business. I am constantly impressed by our ‘First Names’ for their dedication
Private equity fund manager YFM Equity Partners has backed the MBO of Ferrabyrne.
YFM managed funds have invested alongside private co-investors to provide a GBP4 million funding package.
YFM's funding includes the second investment from its new YFMEP 2016 Fund, which held a first close in June.
Ferrabyrne designs, develops, manufactures and services systems and components, including rubber and metal for global customers in the rail, commercial vehicle and energy generation industries. Its key products include suspension components for passenger and freight rail vehicles and heavy-duty trucks, as well as components for wind turbines. Ferrabyrne has 73 employees working
SPIE, a European company specialising in electrical and mechanical engineering, HVAC services and energy and communication systems, has acquired Trios Group, a UK-based provider of compliance, facility and property-related services based in Birmingham.
Trios Group will enhance SPIE UK’s technical facility management division.
Trios Group, first established in 1919, has expanded steadily to become a national provider of technical building services, generating revenues of GBP65 million in the year to 31 March 2016.
Operating across the commercial, local government, health, education, distribution, leisure and retail markets, Trios Group self-delivers virtually all of its maintenance and compliance services through three divisions: property maintenance, legal & statutory compliance and access & security.
Law firm Howard Kennedy has advised Impressario Festivals on the sale of its four festivals – Rewind, Boardmasters, Field Day and SouthWestFour – to media and entertainment group Global.
The sale of the four festivals was completed in early October 2016 and will effectively double shareholder value for the original investors in the company.
Impressario will continue to provide strategic and management advice to the festival operators until April 2017.
Howard Kennedy worked with the team to establish Impressario in 2013, which raised some GBP9 million under the Enterprise Investment Scheme. In 2013, Howard Kennedy also helped Impressario
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